Document:

Exhibit 10.26

 

BASIC
LEASE INFORMATION

INDUSTRIAL NET

 

	LEASE DATE:	December 7, 2020	 
	 	 	 
	TENANT:	SIERRA HOMES, LLC,
	 	a Nevada limited liability company
	 	 
	TENANT’S NOTICE ADDRESS PRIOR TO	Sierra Homes, LLC
	COMMENCEMENT DATE:	4960 Longley Lane, #29
	 	Reno, NV 89502	 
	 	 	 
	TENANT’S NOTICE ADDRESS ON AND AFTER	The Premises	 
	COMMENCEMENT DATE:	 	 
	 	 	 
	TENANT CONTACT:   Steve Parkey	PHONE NUMBER:
	 	 
	LANDLORD:	SW COMMERCE RENO, LLC,
	 	a Delaware limited liability company
	 	 
	LANDLORD’S NOTICE ADDRESS:	SW Commerce Reno, LLC
	 	c/o AEW Capital Management, LP
	 	601 South Figueroa Street, Suite 2150
	 	Los Angeles, CA 90017-3405
	 	Attn: Southwest Commerce Reno Asset Manager
	 	 
	 	With a copy to:	 
	 	 	 
	 	AEW Capital Management, LP
	 	World Trade Center East
	 	Two Seaport Lane	 
	 	Boston, Massachusetts 02210 2021
	 	Attention: General Counsel
	 	 
	LANDLORD’S REMITTANCE ADDRESS:	Payments by Check:	 
	 	 	 
	 	Southwest Commerce – HHV005
	 	P.O. Box 82552	 
	 	Goleta, CA 93118	 
	 	 	 
	 	Payments by ACH:	 
	 	 	 
	 	Bank:	Union Bank
	 	 	Los Angeles, CA 
	 	Account Number:	 
	 	ABA:	6
	 	Account Name:	SW Commerce Reno LLC, CBRE, Inc.
	 	 	AAF AEW Capital MGMT LP

 

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	PROJECT
    DESCRIPTION:	A
    two (2) building, 235,500 rentable square foot project located at 895 East Patriot Boulevard and 875 East Patriot Boulevard in Reno,
    Nevada 89511, which is commonly known as Southwest Commerce Center I.
	 	 
	BUILDING
    DESCRIPTION:	A
    162,000 rentable square foot building located at 875 East Patriot Boulevard, Reno, Nevada 89511, commonly known as Building B
	 	

 

	PREMISES:	Approximately
    24,000 rentable square feet described as Suite 208, located in Building B.
	 	
	PERMITTED
    USE:	Warehouse,
    storage, and light assembly of cabinets and pre-cut countertops, excluding any manufacturing
	 	
	 	 
	PARKING
    DENSITY:	Two
                                            (2) spaces per 1,000 rentable square feet of the Premises

	 	 
	PARKING
    AND PARKING CHARGE:	Forty-eight
    (48) non-exclusive parking spaces at no monthly charge during the initial Term
	 	

	COMMENCEMENT
    DATE:	January
                                            1, 2021

	 	 
	LENGTH
    OF TERM:	Sixty-one
    (61) full calendar months
	 	 
	EXPIRATION
    DATE:	January
    31, 2026

 

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	RENT:	 
	 	 
	BASE RENT:	Tenant shall pay Base Rent pursuant to the following schedule:

  

	Period	 	Monthly Base Rent	 
	1/1/21 - 12/31/21	 	$	15,600.00	*
	1/1/22 - 12/31/22	 	$	16,068.00	 
	1/1/23 - 12/31/23	 	$	16,550.04	 
	1/1/24 - 12/31/24	 	$	17,046.54	 
	1/1/25 - 12/31/25	 	$	17,557.94	 
	1/1/26 - 1/31/26	 	$	18,084.67	 

 

	*	Base Rent for the first full calendar
                                   month of the initial Term is subject to abatement pursuant to Paragraph 6.C. of this Lease.

 

	ESTIMATED FIRST YEAR OPERATING
EXPENSES:	$3,072.00 per month
	 	 
	SECURITY DEPOSIT:	$21,156.67 ’
	 	 
	TENANT’S PROPORTIONATE SHARE:	 
	 	 
	OF BUILDING:	14.81%
	 	 
	OF PROJECT:	10.19%
	 	 
	TENANT’S BROKER:	SYN/Gold Dust Advisors
	 	 
	LANDLORD’S BROKER:	Kidder Mathews
	 	 
	GUARANTOR(S):	None

 

The foregoing
Basic Lease Information is incorporated into and made a part of this Lease. Each reference in this Lease to any of the Basic Lease Information
shall mean the respective information above and shall be construed to incorporate all of the terms provided under the particular Lease
paragraph pertaining to such information. In the event of any conflict between the Basic Lease Information and the Lease, the latter shall
control.

 

	LANDLORD	 	TENANT	 
	 	 	 	 	 	 
	SW COMMERCE RENO, LLC,	 	SIERRA HOMES, LLC,	 
	a Delaware limited liability company	 	a Nevada limited liability company	 
	 	 	 	 	 	 
	By:	/s/ Lily Kao	 	By:	Steve Parkey	 
	 	 	 	 	 	 
	Name: 	Lily Kao	 	Name: 	Steve Parkey	 
	 	 	 	 	 	 
	Title:	Authorized Signatory	 	Title:	Managing Member	 
	 	 	 	 	 	 
	Dated:	12/15/2020	 	Dated:	12/8/2020	 

 

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TABLE
OF CONTENTS

 

	 	 	Page
	Basic Lease Information 	i
	Table of Contents 	iv
	1.	Premises	1
	2.	Possession and Lease Commencement	1
	3.	Term	2
	4.	Use	2
	5.	Rules and Regulations	3
	6.	Rent	3
	7.	Operating Expenses	4
	8.	Insurance and Indemnification	8
	9.	Waiver of Subrogation	10
	10.	Landlord’s Repair and Maintenance	10
	11.	Tenant’s Repair and Maintenance	11
	12.	Alterations	11
	13.	Signs	12
	14.	Inspection/Posting Notices	12
	15.	Services and Utilities	13
	16.	Subordination	15
	17.	Financial Statements	15
	18.	Estoppel Certificate	15
	19.	Security Deposit	16
	20.	Limitation of Tenant’s Remedies	16
	21.	Assignment and Subletting	17
	22.	Authority	18
	23.	Condemnation	19
	24.	Casualty Damage	19
	25.	Holding Over	20
	26.	Default	21
	27.	Liens	23
	28.	Substitution	24
	29.	Transfers by Landlord	24
	30.	Right of Landlord to Perform Tenant’s Covenants	24
	31.	Waiver	24
	32.	Notices	25
	33.	Attorneys’ Fees	25
	34.	Successors and Assigns	25
	35.	Force Majeure	25
	36.	Surrender of Premises	26
	37.	Hazardous Materials	26
	38.	Miscellaneous	27
	39.	Sharing Sustainability Information	29
	40.	Additional Provisions	30
	41.	Jury Trial Waiver	31
	Signatures 	32

 

	Exhibits:	 
	 	 
	Exhibit A	Rules and Regulations
	Exhibit B	Outline and Location of the Premises
	Exhibit B-1	Outline of the Building
	Exhibit B-2	Outline of the Project
	Exhibit B-3	Legal Description
	Exhibit C	Intentionally Omitted
	Exhibit D	Hazardous Materials Questionnaire
	Exhibit E	Contractor Insurance and Subcontractor Insurance Limit Requirements
	Exhibit F	Service Contractor Insurance Limit Requirements

 

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LEASE

 

THIS LEASE
(the “Lease”) is made as of December 4, 2020, by and between SW COMMERCE RENO, LLC, a Delaware limited liability
company (“Landlord”), and SIERRA HOMES, LLC, a Nevada limited liability company (“Tenant”).

 

1.
PREMISES

 

Landlord leases
to Tenant and Tenant leases from Landlord, upon the terms and conditions hereinafter set forth, those premises (the “Premises”)
outlined on Exhibit B and described in the Basic Lease Information. The Premises shall be all or part of a building (the “Building”)
outlined on Exhibit B-1 and of a project (the “Project”) outlined on Exhibit B-2, which may consist of
more than one building and additional facilities, as described in the Basic Lease Information. The Project is legally described on Exhibit
B-3 attached hereto. Landlord and Tenant acknowledge that physical changes may occur from time to time in the Premises, Building or
Project, and that the number of buildings and additional facilities which constitute the Project may change from time to time, which may
result in an adjustment in Tenant’s Proportionate Share, as defined in the Basic Lease Information, as provided in Paragraph 7.A.

 

2.
POSSESSION AND LEASE COMMENCEMENT

 

The term commencement
date for this Lease (“Commencement Date”) shall be the date set forth in the Basic Lease Information and the expiration
date for this Lease (“Expiration Date”) shall be the date set forth in the Basic Lease Information. The Premises are
accepted by Tenant in “as is” condition and configuration without any representations or warranties by Landlord. By taking
possession of the Premises, Tenant agrees that the Premises are in good order and satisfactory condition. However, notwithstanding the
foregoing, Landlord agrees that the warehouse area of the Premises is in “white walled” condition and the dock doors, roll
up doors and the base Building electrical, heating, ventilation and air conditioning and plumbing systems located in the Premises shall
be in good working order as of the date Landlord delivers possession of the Premises to Tenant. Except to the extent caused by the acts
or omissions of Tenant or any Tenant Parties (as hereinafter defined) or by any alterations or improvements performed by or on behalf
of Tenant, if such systems are not in good working order as of the date possession of the Premises is delivered to Tenant and Tenant provides
Landlord with notice of the same within thirty (30) days following the date Landlord delivers possession of the Premises to Tenant, Landlord
shall be responsible for repairing or restoring the same. Landlord shall not be liable for a failure to deliver possession of the Premises
or any other space due to the holdover or unlawful possession of such space by another party, however Landlord shall use reasonable efforts
to obtain possession of the space. The commencement date for the space, in such event, shall be postponed until the date Landlord delivers
possession of the Premises to Tenant free from occupancy by any party. Upon Landlord’s request, Tenant shall promptly execute and
return to Landlord a commencement date memorandum in which Tenant shall agree, among other things, to acceptance of the Premises and to
the determination of the actual Commencement Date, in accordance with the terms of this Lease, but Tenant’s failure or refusal to
do so shall not negate Tenant’s acceptance of the Premises or affect determination of the Commencement Date.

 

Subject to
the terms of this Paragraph, provided that this Lease has been fully executed by all parties and Tenant has delivered all prepaid rental,
the Security Deposit, and insurance certificates required hereunder, Landlord grants Tenant the right to enter the Premises, at Tenant’s
sole risk, on December 1, 2020 solely for the purpose of installing racking systems, telecommunications and data cabling, equipment, furnishings
and other personalty. Such possession prior to the Commencement Date shall be subject to all of the terms and conditions of this Lease,
except that Tenant shall not be required to pay Base Rent or Tenant’s Proportionate Share of Operating Expenses with respect to
the period of time prior to the Commencement Date during which Tenant occupies the Premises solely for such purposes. However, Tenant
shall be liable for any utilities or special services provided to Tenant during such period. Notwithstanding the foregoing, if Tenant
takes possession of the Premises before the Commencement Date for any purpose other than as expressly provided in this Paragraph, such
possession shall be subject to the terms and conditions of this Lease and Tenant shall pay Base Rent, Tenant’s Proportionate Share
of Operating Expenses, and any other charges payable hereunder to Landlord for each day of possession before the Commencement Date. Said
early possession shall not advance the Expiration Date.

 

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3.
TERM

 

The term of
this Lease (the “Term”) shall commence on the Commencement Date and continue in full force and effect for the number
of months specified as the Length of Term in the Basic Lease Information or until this Lease is terminated as otherwise provided herein.
If the Commencement Date is a date other than the first day of the calendar month, the Term shall be the number of months of the Length
of Term in addition to the remainder of the calendar month following the Commencement Date.

 

4.
USE

 

A.
General. Tenant shall use the Premises for the permitted use specified in the Basic Lease Information (“Permitted
Use”) and for no other use or purpose. Tenant shall control Tenant’s employees, agents, customers, visitors, invitees,
licensees, contractors, assignees and subtenants (individually, a “Tenant Party” and collectively, “Tenant
Parties”) in such a manner that Tenant and Tenant Parties cumulatively do not exceed the parking density specified in the Basic
Lease Information (the “Parking Density”) at any time. Tenant shall pay the Parking Charge specified in the Basic Lease
Information as Additional Rent (as hereinafter defined) hereunder. So long as Tenant is occupying the Premises, Tenant and Tenant Parties
shall have the nonexclusive right to use, in common with other parties occupying the Building or Project, the parking areas, driveways
and other common areas of the Building and Project, subject to the terms of this Lease and such rules and regulations as Landlord may
from time to time prescribe. Landlord reserves the right, without notice or liability to Tenant, and without the same constituting an
actual or constructive eviction, to alter or modify the common areas from time to time, including the location and configuration thereof,
and the amenities and facilities which Landlord may determine to provide from time to time.

 

B.
Limitations. Tenant shall not permit any odors, smoke, dust, gas, substances, noise or vibrations to emanate from the Premises
or from any portion of the common areas as a result of Tenant’s or any Tenant’s Party’s use thereof, nor take any action
which would constitute a nuisance or would disturb, obstruct or endanger any other tenants or occupants of the Building or Project or
elsewhere, or interfere with their use of their respective premises or common areas. Storage outside the Premises of materials, vehicles
or any other items is prohibited. Tenant shall not use or allow the Premises to be used for any immoral, improper or unlawful purpose,
nor shall Tenant cause or maintain or permit any nuisance in, on or about the Premises. Tenant shall not bring upon the Premises or any
portion of the Building or Project or use the Premises or permit the Premises or any portion thereof to be used for the growing, manufacturing,
administration, distribution (including without limitation, any retail sales), possession, use or consumption of any cannabis, marijuana
or cannabinoid product or compound, regardless of the legality or illegality of the same. Tenant shall not commit or suffer the commission
of any waste in, on or about the Premises. Tenant shall not allow any sale by auction upon the Premises, or place any loads upon the floors,
walls or ceilings which could endanger the structure, or place any harmful substances in the drainage system of the Building or Project.
No waste, materials or refuse shall be dumped upon or permitted to remain outside the Premises except in trash containers placed inside
exterior enclosures designated for that purpose by Landlord. Landlord shall not be responsible to Tenant for the non-compliance by any
other tenant or occupant of the Building or Project with any of the above-referenced rules or any other terms or provisions of such tenant’s
or occupant’s lease or other contract.

 

C.
Compliance with Regulations. By entering the Premises, Tenant accepts the Premises in the condition existing as of the date
of such entry. Tenant shall at its sole cost and expense strictly comply with all existing or future applicable municipal, state and federal
and other governmental statutes, rules, requirements, regulations, laws and ordinances, including zoning ordinances and regulations, and
covenants, easements and restrictions of record governing and relating to the use, occupancy or possession of the Premises, to Tenant’s
use of the common areas, or to the use, storage, generation or disposal of Hazardous Materials (hereinafter defined) (collectively “Regulations”).
Tenant shall at its sole cost and expense obtain any and all licenses or permits necessary for Tenant’s use of the Premises. Tenant
shall at its sole cost and expense promptly comply with the requirements of any board of fire underwriters or other similar body now or
hereafter constituted. Tenant shall not do or permit anything to be done in, on, under or about the Project or bring or keep anything
which will in any way increase the rate of any insurance upon the Premises, Building or Project or upon any contents therein or cause
a cancellation of said insurance or otherwise affect said insurance in any manner. Tenant shall indemnify, defend (by counsel reasonably
acceptable to Landlord), protect and hold Landlord and the Landlord Indemnitees (as defined in Paragraph 8.C. below) harmless from and
against any loss, cost, expense, damage, attorneys’ fees or liability arising out of the failure of Tenant to comply with any Regulation.

 

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5.
RULES AND REGULATIONS

 

Tenant shall
faithfully observe and comply with the building rules and regulations attached hereto as Exhibit A and any other rules and regulations
and any modifications or additions thereto which Landlord may from time to time prescribe in writing for the purpose of maintaining the
proper care, cleanliness, safety, traffic flow and general order of the Premises or the Building or Project. Tenant shall cause the Tenant
Parties to comply with such rules and regulations. Landlord shall not be responsible to Tenant for the non-compliance by any other tenant
or occupant of the Building or Project with any of such rules and regulations, any other tenant’s or occupant’s lease or any
Regulations.

 

6.
RENT

 

A.
Base Rent. Tenant shall pay to Landlord and Landlord shall receive, without notice or demand throughout the Term, Base Rent
as specified in the Basic Lease Information, payable in monthly installments in advance on or before the first day of each calendar month,
in lawful money of the United States, without deduction or offset whatsoever, at the Remittance Address specified in the Basic Lease Information
or to such other place as Landlord may from time to time designate in writing. Base Rent for the second full month of the Term (subject
to Abated Base Rent pursuant to Paragraph 6.C below) and the first installment of Tenant’s Proportionate Share of Operating Expenses
(as defined in Paragraph 7.A below) shall be paid by Tenant upon Tenant’s execution of this Lease. If the obligation for payment
of Base Rent commences on a day other than the first day of a month, then Base Rent shall be prorated and the prorated installment shall
be paid on the first day of the calendar month next succeeding the Commencement Date. The Base Rent payable by Tenant hereunder is subject
to adjustment as provided elsewhere in this Lease, as applicable. As used herein, the term “Base Rent” shall mean the
Base Rent specified in the Basic Lease Information as it may be so adjusted from time to time.

 

B.
Additional Rent. All monies other than Base Rent required to be paid by Tenant hereunder, including, but not limited to, Tenant’s
Proportionate Share of Operating Expenses, as specified in Paragraph 7 of this Lease, charges to be paid by Tenant under Paragraph 15,
the interest and late charge described in Paragraphs 26.D. and E., and any monies spent by Landlord pursuant to Paragraph 30, shall be
considered additional rent (“Additional Rent”). “Rent” shall mean Base Rent and Additional Rent.

 

C.
Abated Base Rent. Notwithstanding anything in this Lease to the contrary, so long as Tenant is not in default under this Lease,
beyond any applicable notice and cure periods, Tenant shall be entitled to an abatement of Base Rent with respect to the Premises, as
originally described in this Lease, in the amount of $15,600.00 for the first full calendar month of the initial Term (the “Abated
Base Rent”). If Tenant defaults under this Lease at any time during the Term (as the same may be extended) and fails to cure
such default within any applicable cure period under this Lease, then all Abated Base Rent shall immediately become due and payable. Only
Base Rent shall be abated pursuant to this Section, as more particularly described herein, and Tenant’s Proportionate Share of Operating
Expenses and all other rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the provisions
of this Lease.

 

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7.
OPERATING EXPENSES

 

A.
Operating Expenses. In addition to the Base Rent required to be paid hereunder, Tenant shall pay as Additional Rent, Tenant’s
Proportionate Share of the Building and/or Project (as applicable), as defined in the Basic Lease Information, of Operating Expenses (defined
below) in the manner set forth below. Tenant shall pay the applicable Tenant’s Proportionate Share of each such Operating Expenses.
Landlord and Tenant acknowledge that if the number of buildings which constitute the Project increases or decreases, or if physical changes
are made to the Premises, Building or Project or the configuration of any thereof, Landlord may at its discretion reasonably adjust Tenant’s
Proportionate Share of the Building or Project to reflect the change. Landlord’s determination of Tenant’s Proportionate Share
of the Building and of the Project shall be conclusive so long as it is reasonably and consistently applied. “Operating Expenses”
shall mean all expenses and costs of every kind and nature which Landlord shall pay or become obligated to pay, because of or in connection
with the ownership, management, maintenance, repair, preservation, replacement and operation of the Building or Project and its supporting
facilities and such additional facilities now and in subsequent years as may be determined by Landlord to be necessary or desirable to
the Building and/or Project (as determined in a reasonable manner) other than those expenses and costs which are specifically attributable
to Tenant or which are expressly made the financial responsibility of Landlord or specific tenants of the Building or Project pursuant
to this Lease. Operating Expenses shall include, but are not limited to, the following:

 

(1)
Taxes. All real property taxes and assessments, possessory interest taxes, sales taxes, personal property taxes, business or
license taxes or fees, gross receipts taxes, service payments in lieu of such taxes or fees, annual or periodic license or use fees, excises,
transit charges, and other impositions, general and special, ordinary and extraordinary, unforeseen as well as foreseen, of any kind (including
fees “in-lieu” of any such tax or assessment) which are now or hereafter assessed, levied, charged, confirmed, or imposed
by any public authority upon the Building or Project, its operations or the Rent (or any portion or component thereof), or any tax, assessment
or fee imposed in substitution, partially or totally, of any of the above. Operating Expenses shall also include any taxes, assessments,
reassessments, or other fees or impositions with respect to the development, leasing, management, maintenance, alteration, repair, use
or occupancy by Tenant of the Premises, Building or Project or any portion thereof, including, without limitation, by or for Tenant, and
all increases therein or reassessments thereof whether the increases or reassessments result from increased rate and/or valuation (whether
upon a transfer of the Building or Project or any portion thereof or any interest therein or for any other reason). Operating Expenses
shall not include inheritance or estate taxes imposed upon or assessed against the interest of any person in the Project, or taxes computed
upon the basis of the net income of any owners of any interest in the Project. If it shall not be lawful for Tenant to reimburse Landlord
for all or any part of such taxes, the monthly rental payable to Landlord under this Lease shall be revised to net Landlord the same net
rental after imposition of any such taxes by Landlord as would have been payable to Landlord prior to the payment of any such taxes.

 

(2)
Insurance. All insurance premiums and costs, including, but not limited to, any deductible amounts, premiums and other costs
of insurance incurred by Landlord, including for the insurance coverage set forth in Paragraph 8.A. herein.

 

		(3)	Common Area Maintenance.

 

(a) Repairs,
replacements, and general maintenance of and for the Building and Project and public and common areas and facilities of and comprising
the Building and Project, including, but not limited to, the roof and roof membrane, elevators, mechanical rooms, alarm systems, pest
extermination, landscaped areas, parking and service areas, driveways, sidewalks, truck staging areas, rail spur areas, fire sprinkler
systems, sanitary and storm sewer lines, utility services, heating/ventilation/air conditioning systems, electrical, mechanical or other
systems, telephone equipment and wiring servicing, plumbing, lighting, and any other items or areas which affect the operation or appearance
of the Building or Project, or that are reasonably necessary for the health and safety of the occupants of the Building or Project, which
determination shall be at Landlord’s discretion, except for: those items to the extent paid for by the proceeds of insurance; and
those items attributable solely or jointly to specific tenants of the Building or Project.

 

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(b)
Repairs, replacements, and general maintenance shall include the cost of any improvements made to or assets acquired for the
Project or Building that in Landlord’s reasonable opinion are intended to reduce any other Operating Expenses, including present
or future repair work, or which enhance in any material respect the general appearance, or use or operating efficiency of the Property
or any portion thereof, or are reasonably necessary for the health and safety of the occupants of the Building or Project, or for the
operation of the Building systems, services and equipment, or are required to comply with any Regulation, such costs or allocable portions
thereof to be amortized over such reasonable period as Landlord shall determine, together with interest on the unamortized balance at
the publicly announced “prime rate” charged by Wells Fargo Bank, N.A. (San Francisco) or its successor at the time such improvements
or capital assets are constructed or acquired, plus two (2) percentage points, or in the absence of such prime rate, then at the U.S.
Treasury six-month market note (or bond, if so designated) rate as published by any national financial publication selected by Landlord,
plus four (4) percentage points, but in no event more than the maximum rate permitted by law, plus reasonable financing charges.

 

(c) Payment
under or for any easement, license, permit, operating agreement, declaration, restrictive covenant or instrument relating to the Building
or Project.

 

(d)
All expenses and rental related to services and costs of supplies, materials and equipment used in operating, managing and
maintaining the Premises, Building and Project, the equipment therein and the adjacent sidewalks, driveways, parking and service areas,
including, without limitation, expenses related to service agreements regarding security, fire and other alarm systems, janitorial services
to the extent not addressed in Paragraph 11 hereof, window cleaning, elevator maintenance, Building exterior maintenance, landscaping
and expenses related to the administration, management and operation of the Project, including without limitation salaries, wages and
benefits, management fees and management office rent.

 

(e) The
cost of supplying any services and utilities which benefit all or a portion of the Premises, Building or Project to the extent not addressed
in Paragraph 15 hereof.

 

(f)
Legal expenses and the cost of audits by certified public accountants; provided, however, that legal expenses chargeable as
Operating Expenses shall not include the cost of negotiating leases, collecting rents, evicting tenants nor shall it include costs incurred
in legal proceedings with or against any tenant or to enforce the provisions of any lease.

 

(g) The cost of insurance endorsements applicable to green buildings, including (without limitation) coverage in order to repair,
restore, replace and re-commission the Building for certification or recertification in accordance with standards applicable to the U.S.
Environmental Protection Agency’s ENERGY STAR rating, the U.S. Green Building Council’s LEED Green Building Rating System,
the Building Owners and Managers Association (BOMA) International’s 360 Performance Program or any comparable rating, certification
or performance program now or hereafter in existence (“Third Party Sustainability Standards”) (without hereby obligating
Landlord to seek such certification) or support achieving energy and carbon reduction targets.

 

(h)
The cost of sustainability and energy management services including all costs of applying, reporting and commissioning the
Building or any part thereof to seek certification under any Third Party Sustainability Standard applicable to the Building as in effect
from time to time.

 

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(i)
All costs of maintaining, managing, reporting, commissioning, and re-commissioning the Building or any part thereof that is
rated, certified or otherwise labeled under any Third Party Sustainability Standard applicable to the Building.

 

(j)
Capital improvements or replacement of capital items that are intended by Landlord in good faith to achieve a verifiable expense
savings in Operating Expenses (including utilities).

 

If the rentable area of the Building
and/or Project is not fully occupied during any fiscal year of the Term as determined by Landlord, an adjustment shall be made in Landlord’s
discretion in computing the Operating Expenses for such year so that Tenant pays an equitable portion of all variable items (e.g., utilities,
janitorial services and other component expenses that are affected by variations in occupancy levels) of Operating Expenses, as reasonably
determined by Landlord.

 

Operating Expenses shall not include
the cost of providing tenant improvements or other specific costs incurred for the account of, separately billed to and paid by specific
tenants of the Building or Project, the initial construction cost of the Building, or debt service on any mortgage or deed of trust recorded
with respect to the Project other than pursuant to Paragraph 7.A.(3)(b) above. Notwithstanding anything herein to the contrary, in any
instance wherein Landlord, in Landlord’s sole discretion, deems Tenant to be responsible for any amounts greater than Tenant’s
Proportionate Share, Landlord shall have the right to allocate costs in any manner Landlord deems appropriate.

 

The above enumeration of services
and facilities shall not be deemed to impose an obligation on Landlord to make available or provide such services or facilities except
to the extent if any that Landlord has specifically agreed elsewhere in this Lease to make the same available or provide the same. Without
limiting the generality of the foregoing, Tenant acknowledges and agrees that it shall be responsible for providing adequate security
for its use of the Premises, the Building and the Project and that Landlord shall have no obligation or liability with respect thereto,
except to the extent if any that Landlord has specifically agreed elsewhere in this Lease to provide the same.

 

B.  Payment
of Estimated Operating Expenses. “Estimated Operating Expenses” for any particular year shall mean
Landlord’s estimate of the Operating Expenses for such fiscal year made with respect to such fiscal year as hereinafter
provided. Landlord shall have the right from time to time to revise its fiscal year and interim accounting periods so long as the
periods as so revised are reconciled with prior periods in a reasonable manner. During the last month of each fiscal year during the
Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of the Estimated Operating Expenses for the
ensuing fiscal year. Tenant shall pay Tenant’s Proportionate Share of the Estimated Operating Expenses with installments of
Base Rent for the fiscal year to which the Estimated Operating Expenses applies in monthly installments on the first day of each
calendar month during such year, in advance. Such payment shall be construed to be Additional Rent for all purposes hereunder. If at
any time during the course of the fiscal year, Landlord determines that Operating Expenses are projected to vary from the then
Estimated Operating Expenses by more than five percent (5%), Landlord may, by written notice to Tenant, revise the Estimated
Operating Expenses for the balance of such fiscal year, and Tenant’s monthly installments for the remainder of such year shall
be adjusted so that by the end of such fiscal year Tenant has paid to Landlord Tenant’s Proportionate Share of the revised
Estimated Operating Expenses for such year, such revised installment amounts to be Additional Rent for all purposes hereunder.

 

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C. Computation of
Operating Expense Adjustment. “Operating Expense Adjustment” shall mean the difference between Estimated
Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty
(120) days after the end of each fiscal year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a statement of
actual Operating Expenses for the fiscal year just ended, accompanied by a computation of Operating Expense Adjustment. If such
statement shows that Tenant’s payment based upon Estimated Operating Expenses is less than Tenant’s Proportionate Share
of Operating Expenses, then Tenant shall pay to Landlord the difference within twenty (20) days after receipt of such statement,
such payment to constitute Additional Rent for all purposes hereunder. If such statement shows that Tenant’s payments of
Estimated Operating Expenses exceed Tenant’s Proportionate Share of Operating Expenses, then (provided that Tenant is not in
default under this Lease) Landlord shall pay to Tenant the difference within twenty (20) days after delivery of such statement to
Tenant. If this Lease has been terminated or the Term hereof has expired prior to the date of such statement, then the Operating
Expense Adjustment shall be paid by the appropriate party within twenty (20) days after the date of delivery of the statement.
Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenant’s Proportionate Share
of the Operating Expense Adjustment shall be prorated based on a month of thirty (30) days and the number of calendar months during
such fiscal year that this Lease is in effect. Notwithstanding anything to the contrary contained in Paragraph 7.A or 7.B,
Landlord’s failure to provide any notices or statements within the time periods specified in those paragraphs shall in no way
excuse Tenant from its obligation to pay Tenant’s Proportionate Share of Operating Expenses.

 

D.
Net Lease. This shall be a triple net Lease and Base Rent shall be paid to Landlord absolutely net of all costs and expenses,
except as specifically provided to the contrary in this Lease. The provisions for payment of Operating Expenses and the Operating Expense
Adjustment are intended to pass on to Tenant and reimburse Landlord for all costs and expenses of the nature described in Paragraph 7.A.
incurred in connection with the ownership, management, maintenance, repair, preservation, replacement and operation of the Building and/or
Project and its supporting facilities and such additional facilities now and in subsequent years as may be determined by Landlord to be
necessary or desirable to the Building and/or Project.

 

E. Tenant Audit.
If Tenant shall dispute the amount set forth in any statement provided by Landlord under Paragraph 7.B. or 7.C. above, Tenant shall
have the right, not later than twenty (20) days following receipt of such statement and upon the condition that Tenant shall first
deposit with Landlord the full amount in dispute, to cause Landlord’s books and records with respect to Operating Expenses for
such fiscal year to be audited by certified public accountants selected by Tenant and subject to Landlord’s reasonable right
of approval. In no event shall such certified public accountants be paid on a contingency fee basis. The Operating Expense
Adjustment shall be appropriately adjusted on the basis of such audit. If Tenant shall not request an audit in accordance with the
provisions of this Paragraph 7.E. within twenty (20) days after receipt of Landlord’s statement provided pursuant to Paragraph
7.B. or 7.C., such statement shall be final and binding for all purposes hereof. Tenant acknowledges and agrees that any information
revealed in the above described audit may contain proprietary and sensitive information and that significant damage could result to
Landlord if such information were disclosed to any party other than Tenant’s auditors. Tenant shall not in any manner
disclose, provide or make available any information revealed by the audit to any person or entity without Landlord’s prior
written consent, which consent may be withheld by Landlord in its sole and absolute discretion. The information disclosed by the
audit will be used by Tenant solely for the purpose of evaluating Landlord’s books and records in connection with this
Paragraph 7.E. In no event shall Tenant be permitted to examine Landlord’s records or to dispute any statement of Operating
Expenses unless Tenant has paid and continues to pay all Rent when due.

 

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8.
INSURANCE AND INDEMNIFICATION

 

A.
Landlord’s Insurance. All insurance maintained by Landlord shall be for the sole benefit of Landlord and under Landlord’s
sole control. Landlord shall keep in force throughout the Term Commercial General Liability Insurance for the common areas and All Risk
or Special Form coverage insuring the Landlord and the Building, in such amounts and with such deductibles as Landlord determines in its
sole discretion from time to time in accordance with sound and reasonable risk management principles. The cost of all such insurance is
included in Operating Expenses. Landlord shall not be obligated to insure, and shall have no responsibility whatsoever for any damage
to, any furniture, machinery, goods, inventory or supplies, or other personal property or fixtures which Tenant may keep or maintain in
the Premises, or any Leasehold Improvements (as defined in Paragraph 12.C below) within the Premises.

 

B.
Tenant’s Insurance. Tenant shall procure at Tenant’s sole cost and expense and keep in effect from the date of
this Lease and at all times until the end of the Term the following:

 

(1)
Property Insurance. Insurance on all personal property and fixtures of Tenant and all improvements, additions or alterations
made by or for Tenant to the Premises on an “All Risk” or Special Form basis, insuring such property for the full replacement
value of such property and naming Landlord and the Landlord Parties and any other party reasonably designated by Landlord as loss payee
(Property—Special Form).

 

(2)
Business Interruption Insurance. Tenant shall keep in force throughout the Term Business Interruption Insurance with limit
of liability representing loss of at least approximately six (6) months of income.

 

(3)
Liability Insurance. Commercial General Liability insurance covering bodily injury and property damage liability occurring
in or about the Premises or arising out of the use and occupancy of the Premises and the Project, and any part of either, and any areas
adjacent thereto, and the business operated by Tenant or by any other occupant of the Premises. Such insurance shall include contractual
liability insurance coverage insuring all of Tenant’s indemnity obligations under this Lease. Such coverage shall have a minimum
combined single limit of liability of at least One Million Dollars ($1,000,000.00) each occurrence, and a minimum general aggregate limit
of Two Million Dollars ($2,000,000.00) and excess liability insurance with a limit of not less than $5,000,000.00 per occurrence. All
such policies shall be written to apply to all bodily injury (including death), property damage or loss, personal and advertising injury
and other covered loss, however occasioned, occurring during the policy term and shall be endorsed to add Landlord, the Landlord Parties,
any other party designated by Landlord and any party holding an interest to which this Lease may be subordinated as an Additional Insured,
and shall provide that such coverage shall be “primary” and non-contributing with any insurance maintained by Landlord,
which shall be excess insurance only. Such coverage shall also contain endorsements including employees as additional insureds if not
covered by Tenant’s Commercial General Liability Insurance. All such insurance shall provide for the severability of interests of
insureds; and shall be written on an “occurrence” basis, which shall afford coverage for all claims based on acts,
omissions, injury and damage, which occurred or arose (or the onset of which occurred or arose) in whole or in part during the policy
period.

 

(4)
Workers’ Compensation and Employers’ Liability Insurance. Workers’ Compensation Insurance as required by
any Regulation, and Employers’ Liability Insurance in amounts not less than One Million Dollars ($1,000,000) each accident for bodily
injury by accident; One Million Dollars ($1,000,000) policy limit for bodily injury by disease; and One Million Dollars ($1,000,000) each
employee for bodily injury by disease.

 

(5)
Commercial Auto Liability Insurance. Commercial auto liability insurance with a combined limit of not less than One Million
Dollars ($1,000,000) for bodily injury and property damage for each accident. Such insurance shall cover liability relating to any auto
(including owned, hired and non-owned autos).

 

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(6)
Contractor/Service Contractor Requirements. Tenant will require that all parties performing work on or with respect to the
Premises, including, without limitation, contractors, subcontractors and service vendors, maintain insurance coverage at such parties’
expense, in the following minimum amounts:

 

		(a)	Workers’ Compensation: Statutory amount;

 

		(b)	Employer’s Liability: $500,000 each accident; $500,000
disease-policy limit; and $500,000 disease - each employee;

 

		(c)	Automobile Liability: $1,000,000 covering losses due to the
insurer’s liability for bodily injury or property damage;

 

		(d)	Medical Expenses: $5,000 per person per accident;

 

		(e)	Uninsured/Underinsured Motorists’ Coverage: $1,000,000;

 

		(f)	Commercial General Liability: Bodily injury and property
damage: Per Exhibit E attached hereto (for construction contractors) or per Exhibit F attached hereto (for service contractors);

 

		(g)	Excess Liability Coverage: Per Exhibit E attached
hereto (for construction contractors) or per Exhibit F attached hereto (for service contractors) or such greater amount as is
needed for the specific job; and

 

		(h)	Transit Coverage: As needed for the specific job.

 

(7) General
Insurance Requirements. All coverages described in this Paragraph 8.B. shall be endorsed to (i) provide Landlord with thirty
(30) days’ notice of cancellation or material change in terms or reduction in any policy aggregate limit by fifty percent
(50%) or more; and (ii) waive all rights of subrogation by the insurance carrier against Landlord. If at any time during the Term
the amount or coverage of insurance which Tenant is required to carry under this Paragraph 8.B. is, in Landlord’s reasonable
judgment, materially less than the amount or type of insurance coverage typically carried by owners or tenants of properties located
in the general area in which the Premises are located which are similar to and operated for similar purposes as the Premises or if
Tenant’s use of the Premises should change with or without Landlord’s consent, Landlord shall have the right to require
Tenant to increase the amount or change the types of insurance coverage required under this Paragraph 8.B. All insurance policies
required to be carried by Tenant under this Lease shall be written by companies rated A-VIII or better in “Best’s
Insurance Guide” and authorized to do business in the state in which the Building is located. In any event deductible amounts
under all insurance policies required to be carried by Tenant under this Lease shall not exceed Five Thousand Dollars ($5,000.00)
per occurrence unless Landlord provides express written approval for increased deductible amounts. Payment of any deductibles shall
be the sole responsibility of Tenant. Tenant shall deliver to Landlord on or before the Commencement Date, and thereafter at least
thirty (30) days before the expiration dates of the expired policies, a certificate of insurance providing evidence of the insurance
coverage required under this Paragraph 8.B or, upon request of Landlord, certified copies of Tenant’s insurance policies, and,
if Tenant shall fail to procure such insurance, or to deliver such policies or certificates, Landlord may, at Landlord’s
option and in addition to Landlord’s other remedies in the event of a default by Tenant hereunder, procure the same for the
account of Tenant, and the cost thereof shall be paid to Landlord as Additional Rent.

 

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C. Indemnification.
Tenant shall indemnify, defend by counsel reasonably acceptable to Landlord, protect and hold Landlord and its directors,
shareholders, investment managers, partners, lenders, members, managers, contractors, affiliates, employees, trustees, principals,
beneficiaries, officers, mortgagees and agents (each a “Landlord Party” and collectively, the “Landlord
Parties”) harmless from and against any and all claims, liabilities, losses, costs, loss of rents, liens, damages,
injuries or expenses, including reasonable attorneys’ and consultants’ fees and court costs, demands, causes of action,
or judgments, directly or indirectly arising out of or related to: (1) claims
of injury to or death of persons or damage to property or business loss occurring or resulting directly or indirectly from the use
or occupancy of the Premises, Building or Project by Tenant or any Tenant Parties, or from activities or failures to act of Tenant
or any Tenant Parties; (2) claims arising from work or labor performed, or for materials or supplies furnished to or at the request
or for the account of Tenant in connection with performance of any work done for the account of Tenant within the Premises or
Project; (3) claims arising from any breach or default on the part of Tenant in the performance of any covenant contained in this
Lease; and (4) claims arising from the negligence or intentional acts or omissions of Tenant or any Tenant Parties. The foregoing
indemnity by Tenant shall not be applicable to claims to the extent arising from the gross negligence or willful misconduct of
Landlord. Landlord shall not be liable to Tenant and Tenant hereby waives all claims against Landlord and the Landlord Parties for
any injury to or death of or damage to any person or property or business loss in or about the Premises, Building or Project by or
from any cause whatsoever (other than Landlord’s gross negligence or willful misconduct) and, without limiting the generality
of the foregoing, whether caused by water leakage of any character from the roof, walls, basement or other portion of the Premises,
Building or Project, or caused by gas, fire, oil or electricity in, on or about the Premises, Building or Project, acts of God or of
third parties, or any matter outside of the reasonable control of Landlord. The provisions of this Paragraph shall survive the
expiration or earlier termination of this Lease.

 

9.
WAIVER OF SUBROGATION

 

Landlord and
Tenant each waives any claim, loss or cost it might have against the other for any damage to or theft, destruction, loss, or loss of use
of any property (a “Loss”), to the extent the same is insured against (or is required to be insured against under the
terms hereof) under any property damage insurance policy covering the Building, the Premises, Landlord’s or Tenant’s fixtures,
personal property, leasehold improvements, or business, regardless of whether the negligence of the other party caused such Loss.

 

10.
LANDLORD’S REPAIR AND MAINTENANCE

 

Landlord shall
maintain in good repair, reasonable wear and tear excepted, the structural soundness of the roof, foundations, and exterior walls of the
Building. The term “exterior walls” as used herein shall not include windows, glass or plate glass, doors, dock bumpers
or dock plates, special store fronts or office entries. Any damage caused by or repairs necessitated by any negligence or act of Tenant
or the Tenant Parties may be repaired by Landlord at Landlord’s option and Tenant’s expense. Tenant shall immediately give
Landlord written notice of any defect or need of repairs in such components of the Building for which Landlord is responsible, after which
Landlord shall have a reasonable opportunity and the right to enter the Premises at all reasonable times to repair same. Landlord’s
liability with respect to any defects, repairs, or maintenance for which Landlord is responsible under any of the provisions of this Lease
shall be limited to the cost of such repairs or maintenance, and there shall be no abatement of rent and no liability of Landlord by reason
of any injury to or interference with Tenant’s business arising from the making of repairs, alterations or improvements in or to
any portion of the Premises, the Building or the Project or to fixtures, appurtenances or equipment in the Building, except as provided
in Paragraph 24. By taking possession of the Premises, Tenant accepts them “as is,” as being in good order, condition and
repair and the condition in which Landlord is obligated to deliver them and suitable for the Permitted Use and Tenant’s intended
operations in the Premises, whether or not any notice of acceptance is given.

 

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11.
TENANT’S REPAIR AND MAINTENANCE

 

Tenant shall
at all times during the Term at Tenant’s expense maintain all parts of the Premises and such portions of the Building as are within
the exclusive control of Tenant in a first-class, good, clean, secure and sanitary condition and promptly make all necessary repairs and
replacements, as determined by Landlord, including but not limited to, all windows, glass, doors, walls, including demising walls, and
wall finishes, floors and floor covering, heating, ventilating and air conditioning systems, ceiling insulation, truck doors, hardware,
dock bumpers, dock plates and levelers, plumbing work and fixtures, downspouts, entries, skylights, smoke hatches, roof vents, electrical
and lighting systems, and fire sprinklers, with materials and workmanship of the same character, kind and quality as the original. Tenant
shall, at Tenant’s sole cost and expense, immediately upon notice from Landlord, sanitize the Premises if Landlord reasonably determines
the same is necessary, utilizing such methods as reasonably determined by Landlord. Tenant shall at Tenant’s expense also perform
regular removal of trash and debris. If Tenant uses rail and if required by the railroad company, Tenant agrees to sign a joint maintenance
agreement governing the use of the rail spur, if any. Tenant shall, at Tenant’s own expense, enter into a regularly scheduled preventative
maintenance/service contract with a maintenance contractor for servicing all hot water, heating and air conditioning systems and equipment
within or serving the Premises. The maintenance contractor and the contract must be approved by Landlord. The service contract must include
all services suggested by the equipment manufacturer within the operation/maintenance manual and must become effective and a copy thereof
delivered to Landlord within thirty (30) days after the Commencement Date. Landlord may, upon notice to Tenant, enter into such a service
contract on behalf of Tenant or perform the work and in either case charge Tenant the cost thereof along with a reasonable amount for
Landlord’s overhead. Notwithstanding anything to the contrary contained herein, Tenant shall, at its expense, promptly repair any
damage to the Premises or the Building or Project resulting from or caused by any negligence or act of Tenant or the Tenant Parties. Nothing
herein shall expressly or by implication render Tenant Landlord’s agent or contractor to effect any repairs or maintenance required
of Tenant under this Paragraph 11, as to all of which Tenant shall be solely responsible. Repair and maintenance work shall be undertaken
in compliance with Landlord’s Building construction standards (if any) from time to time to the extent applicable (which standards
shall be made available to Tenant by Landlord’s Building manager upon request). All repair and maintenance performed by Tenant in
the Premises shall be performed by contractors or workmen designated or approved by Landlord and must comply with Landlord’s sustainability
practices, including any third-party rating system concerning the environmental compliance of the Building or the Premises, as the same
may change from time to time. Tenant is responsible for reporting lighting purchases to Landlord in a format suitable to Landlord.

 

12.
ALTERATIONS

 

A.
Tenant shall not make, or allow to be made, any alterations, physical additions, improvements or partitions, including without
limitation the attachment of any fixtures or equipment, in, about or to the Premises (“Alterations”) without obtaining
the prior written consent of Landlord, which consent shall not be unreasonably withheld with respect to proposed Alterations which: (a)
comply with all applicable Regulations; (b) are, in Landlord’s opinion, compatible with the Building or the Project and its mechanical,
plumbing, electrical, heating/ventilation/air conditioning systems, and will not cause the Building or Project or such systems to be required
to be modified to comply with any Regulations (including, without limitation, the Americans With Disabilities Act); and (c) will not interfere
with the use and occupancy of any other portion of the Building or Project by any other tenant or its invitees. Specifically, but without
limiting the generality of the foregoing, Landlord shall have the right of written consent for all plans and specifications for the proposed
Alterations, construction means and methods, all appropriate permits and licenses, any contractor or subcontractor to be employed on the
work of Alterations, and the time for performance of such work, and may impose rules and regulations for contractors and subcontractors
performing such work. Tenant shall also supply to Landlord any documents and information reasonably requested by Landlord in connection
with Landlord’s consideration of a request for approval hereunder. Tenant shall cause all Alterations to be accomplished in a first-class,
good and workmanlike manner, and to comply with all applicable Regulations and Paragraph 27 hereof and with Landlord’s Building
construction standards (if any) from time to time to the extent applicable (which standards shall be made available to Tenant by Landlord’s
Building manager upon request. Tenant shall at Tenant’s sole expense, perform any additional work required under applicable Regulations
due to the Alterations hereunder. No review or consent by Landlord of or to any proposed Alteration or additional work shall constitute
a waiver of Tenant’s obligations under this Paragraph 12. Tenant shall reimburse Landlord for all costs which Landlord may incur
in connection with granting approval to Tenant for any such Alterations, including any costs or expenses which Landlord may incur in electing
to have outside architects and engineers review said plans and specifications, and shall pay Landlord an administration fee of fifteen
percent (15%) of the cost of the Alterations as Additional Rent hereunder. All such Alterations shall remain the property of Tenant until
the expiration or earlier termination of this Lease, at which time they shall be and become the property of Landlord; provided, however,
that Landlord may, at Landlord’s option, require that Tenant, at Tenant’s expense, remove any or all Alterations made by Tenant
and restore the Premises by the expiration or earlier termination of this Lease, to their condition existing prior to the construction
of any such Alterations. All such removals and restoration shall be accomplished in a first-class and good and workmanlike manner so as
not to cause any damage to the Premises or Project whatsoever. Tenant shall dispose of, in an environmentally sustainable manner, any
equipment, furnishings, or materials no longer needed by Tenant and shall recycle or re-use in accordance with LEED-EB: O&M sustainability
practices. If Tenant fails to remove such Alterations or Tenant’s trade fixtures or furniture or other personal property, Landlord
may keep and use them or remove any of them and cause them to be stored or sold in accordance with applicable law, at Tenant’s sole
expense. In addition to and wholly apart from Tenant’s obligation to pay Tenant’s Proportionate Share of Operating Expenses,
Tenant shall be responsible for and shall pay prior to delinquency any taxes or governmental service fees, possessory interest taxes,
fees or charges in lieu of any such taxes, capital levies, or other charges imposed upon, levied with respect to or assessed against its
fixtures or personal property, on the value of Alterations within the Premises, and on Tenant’s interest pursuant to this Lease,
or any increase in any of the foregoing based on such Alterations. To the extent that any such taxes are not separately assessed or billed
to Tenant, Tenant shall pay the amount thereof as invoiced to Tenant by Landlord.

 

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Notwithstanding the foregoing, at
Landlord’s option (but without obligation), all or any portion of the Alterations shall be performed by Landlord for Tenant’s
account and Tenant shall pay Landlord’s estimate of the cost thereof (including a reasonable charge for Landlord’s overhead
and profit) prior to commencement of the work. In addition, at Landlord’s election and notwithstanding the foregoing, however, Tenant
shall pay to Landlord the cost of removing any such Alterations and restoring the Premises to their original condition such cost to include
a reasonable charge for Landlord’s overhead and profit as provided above, and such amount may be deducted from the Security Deposit
or any other sums or amounts held by Landlord under this Lease.

 

B.
In compliance with Paragraph 27 hereof, at least ten (10) business days before beginning construction of any Alteration, Tenant
shall give Landlord written notice of the expected commencement date of that construction to permit Landlord to post and record a notice
of non-responsibility. Upon substantial completion of construction, if the law so provides, Tenant shall cause a timely notice of completion
to be recorded in the office of the recorder of the county in which the Building is located.

 

13.
SIGNS

 

Tenant shall not place,
install, affix, paint or maintain any signs, notices, graphics or banners whatsoever or any window decor which is visible in or from
public view or corridors, the common areas or the exterior of the Premises or the Building, in or on any exterior window or window
fronting upon any common areas or service area or upon any truck doors or man doors without Landlord’s prior written approval
which Landlord shall have the right to withhold in its absolute and sole discretion; provided that Tenant’s name shall be
included in any Building-standard door and directory signage, if any, in accordance with Landlord’s Building signage program,
including without limitation, payment by Tenant of any fee charged by Landlord for maintaining such signage, which fee shall
constitute Additional Rent hereunder. Any installation of signs, notices, graphics or banners on or about the Premises or Project
approved by Landlord shall be subject to any Regulations and to any other requirements imposed by Landlord. Tenant, at its sole cost
and expense, shall remove all such signs or graphics by the expiration or any earlier termination of this Lease. Such installations
and removals shall be made in such manner as to avoid injury to or defacement of the Premises, Building or Project and any other
improvements contained therein, and Tenant shall repair any injury or defacement including without limitation discoloration caused
by such installation or removal.

 

14.
INSPECTION/POSTING NOTICES

 

After reasonable
notice, except in emergencies where no such notice shall be required, Landlord and Landlord’s agents and representatives, shall
have the right to enter the Premises to inspect the same, to clean, to perform such work as may be permitted or required hereunder, to
make repairs, improvements or alterations to the Premises, Building or Project or to other tenant spaces therein, to deal with emergencies,
to post such notices as may be permitted or required by law to prevent the perfection of liens against Landlord’s interest in the
Project or to exhibit the Premises to prospective tenants, purchasers, encumbrancers or to others, or for any other purpose as Landlord
may deem necessary or desirable; provided, however, that Landlord shall use reasonable efforts not to unreasonably interfere with Tenant’s
business operations. Tenant shall not be entitled to any abatement of Rent by reason of the exercise of any such right of entry. Tenant
waives any claim for damages for any injury or inconvenience to or interference with Tenant’s business, any loss of occupancy or
quiet enjoyment of the Premises, and any other loss occasioned thereby. Landlord shall at all times have and retain a key with which to
unlock all of the doors in, upon and about the Premises, excluding Tenant’s vaults and safes or special security areas (designated
in advance), and Landlord shall have the right to use any and all means which Landlord may deem necessary or proper to open said doors
in an emergency, in order to obtain entry to any portion of the Premises, and any entry to the Premises or portions thereof obtained by
Landlord by any of said means, or otherwise, shall not be construed to be a forcible or unlawful entry into, or a detainer of, the Premises,
or an eviction, actual or constructive, of Tenant from the Premises or any portions thereof. At any time within six (6) months prior to
the expiration of the Term or following any earlier termination of this Lease or agreement to terminate this Lease, Landlord shall have
the right to erect on the Premises, Building and/or Project a suitable sign indicating that the Premises are available for lease.

 

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15.
SERVICES AND UTILITIES

 

A.
Tenant shall (where practicable) contract for and pay directly when due, for all water, gas, heat, air conditioning, light,
power, telephone, sewer, sprinkler charges, cleaning, waste disposal and other utilities and services used on or from the Premises, together
with any taxes, penalties, surcharges or the like pertaining thereto, and maintenance charges for utilities and shall furnish all electric
light bulbs, ballasts and tubes. If any such services are not separately billed or metered to Tenant, Tenant shall pay an equitable proportion,
as determined in good faith by Landlord, of all charges billed or metered with other premises. All sums payable under this Paragraph 15
shall constitute Additional Rent hereunder. At least annually, Tenant shall be required to submit to Landlord electricity consumption
data in a format deemed reasonably acceptable by Landlord. In addition, Landlord may install and shall have access to the Premises to
monitor a separate meter (or submeter) to determine the actual use of any utility in the Premises or any shared common area and may make
available and share actual whole-project energy and water usage data as necessary to maintain the Building’s “green building”
certification, if any. If there is no meter or submeter in the Premises, then, upon request, Tenant shall provide monthly utility usage
to Landlord in electronic or paper format or provide permission for Landlord to request information regarding Tenant’s utility usage
directly from the utility company.

 

B.
Tenant acknowledges that Tenant has inspected and accepts the water, electricity, heat and air conditioning and other utilities
and services being supplied or furnished to the Premises as of the date Tenant takes possession of the Premises, if any, as being sufficient
in their present condition, “as is,” for the Permitted Use, and for Tenant’s intended operations in the Premises. Landlord
shall have no obligation to provide additional or after-hours electricity, heating or air conditioning, but if Landlord elects to provide
such services at Tenant’s request, Tenant shall pay upon demand to Landlord a reasonable charge for such services as determined
by Landlord. Tenant agrees to keep and cause to be kept closed all window covering when necessary because of the sun’s position,
and Tenant also agrees at all times to cooperate fully with Landlord and to abide by all of the regulations and requirements which Landlord
may prescribe for the proper functioning and protection of electrical, heating, ventilating and air conditioning systems. Wherever heat-generating
machines, excess lighting or equipment are used in the Premises which affect the temperature otherwise maintained by the air conditioning
system, Landlord reserves the right to install supplementary air conditioning units in the Premises and the cost thereof, including the
cost of installation and the cost of operation and maintenance thereof, shall be paid by Tenant to Landlord upon demand by Landlord.

 

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C.
Tenant shall not without written consent of Landlord use any apparatus, equipment or device in the Premises, including without
limitation, computers, electronic data processing machines, copying machines, and other machines, using excess lighting or using electric
current, water, or any other resource in excess of or which will in any way increase the amount of electricity, water, or any other resource
being furnished or supplied for the use of the Premises for reasonable and normal office use, in each case as of the date Tenant takes
possession of the Premises and as determined by Landlord, or which will require additions or alterations to or interfere with the Building
power distribution systems; nor connect with electric current, except through existing electrical outlets in the Premises or water pipes,
any apparatus, equipment or device for the purpose of using electrical current, water, or any other resource. If Tenant shall require
water or electric current or any other resource in excess of that being furnished or supplied for the use of the Premises as of the date
Tenant takes possession of the Premises, if any, as determined by Landlord, Tenant shall first procure the written consent of Landlord
which Landlord may refuse, to the use thereof, and Landlord may cause a special meter to be installed in the Premises so as to measure
the amount of water, electric current or other resource consumed for any such other use. Tenant shall pay directly to Landlord upon demand
as an addition to and separate from payment of Operating Expenses the cost of all such additional resources, energy, utility service and
meters (and of installation, maintenance and repair thereof and of any additional circuits or other equipment necessary to furnish such
additional resources, energy, utility or service). Landlord may add to the separate or metered charge a recovery of additional expense
incurred in keeping account of the excess water, electric current or other resource so consumed. Landlord shall in no case be liable for
any damages directly or indirectly resulting from nor shall the Rent or any monies owed Landlord under this Lease herein reserved be abated
by reason of: (a) the installation, use or interruption of use of any equipment used in connection with the furnishing of any such utilities
or services, or any change in the character or means of supplying or providing any such utilities or services or any supplier thereof;
(b) the failure to furnish or delay in furnishing any such utilities or services when such failure or delay is caused by acts of God or
the elements, labor disturbances of any character, or otherwise, or because of any interruption of service due to Tenant’s use of
water, electric current or other resource in excess of that being supplied or furnished for the use of the Premises as of the date Tenant
takes possession of the Premises; or (c) the inadequacy, limitation, curtailment, rationing or restriction on use of water, electricity,
gas or any other form of energy or any other service or utility whatsoever serving the Premises or Project otherwise; or (d) the partial
or total unavailability of any such utilities or services to the Premises or the Building or the diminution in the quality or quantity
thereof, whether by Regulation or otherwise; or (e) any interruption in Tenant’s business operations as a result of any such occurrence;
nor shall any such occurrence constitute an actual or constructive eviction of Tenant or a breach of an implied warranty by Landlord.
Landlord shall further have no obligation to protect or preserve any apparatus, equipment or device installed by Tenant in the Premises,
including without limitation by providing additional or after-hours heating or air conditioning. Landlord shall be entitled to cooperate
voluntarily and in a reasonable manner with the efforts of national, state or local governmental agencies or utility suppliers in reducing
energy or other resource consumption. The obligation to make services available hereunder shall be subject to the limitations of any such
voluntary, reasonable program. In addition, Landlord reserves the right to change the supplier or provider of any such utility or service
from time to time. Landlord may, but shall not be obligated to, upon notice to Tenant, contract with or otherwise obtain any electrical
or other such service for or with respect to the Premises or Tenant’s operations therein from any supplier or provider of any such
service. Tenant shall cooperate with Landlord and any supplier or provider of such services designated by Landlord from time to time to
facilitate the delivery of such services to Tenant at the Premises and to the Building and Project, including without limitation allowing
Landlord and Landlord’s suppliers or providers, and their respective agents and contractors, reasonable access to the Premises for
the purpose of installing, maintaining, repairing, replacing or upgrading such service or any equipment or machinery associated therewith.

 

D.
Tenant acknowledges that the rail tracks serving the Building do not belong to Landlord. If Tenant uses such rail tracks, Tenant
shall enter into a license agreement with the railroad company that owns such tracks and shall pay any license fees or costs associated
with such use of the rail tracks by Tenant or any Tenant Party. Tenant’s indemnity obligation pursuant to Paragraph 8.C of this Lease
shall apply to any use of the rail tracks by Tenant. Tenant shall not do, permit or suffer in, on or about the rail tracks anything that
is unsafe or otherwise may create a hazardous condition, or that may increase Landlord’s insurance rates, or cause a cancellation
or modification of Landlord’s insurance coverage. Tenant agrees that Landlord has made no representations or warranties with respect
to the rails tracks or the suitability or usability thereof and Landlord shall not be liable for the availability or non-availability
of the rail tracks and Tenant’s inability to use the rail tracks shall not affect any of Tenant’s other obligations under this Lease.
If Tenant uses such rail tracks, Tenant shall reimburse Landlord or the railroad company from time to time upon demand, as Additional
Rent, for its share of the costs of any repair and maintenance of the railroad tracks and for any other sums specified in any agreement
to which Landlord or Tenant is a party respecting such tracks, such costs to be borne proportionately by all tenants in the Building using
such rail tracks, based upon the actual number of rail cars shipped and received by such tenant during each calendar year during the Term.

 

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16.
SUBORDINATION

 

Without the
necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, this Lease shall be and is
hereby declared to be subject and subordinate at all times to: (a) all ground leases or underlying leases which may now exist or hereafter
be executed affecting the Premises and/or the land upon which the Premises and Project are situated, or both; and (b) any mortgage or
deed of trust which may now exist or be placed upon the Building, the Project and/or the land upon which the Premises or the Project are
situated, or said ground leases or underlying leases, or Landlord’s interest or estate in any of said items which is specified as
security. Notwithstanding the foregoing, Landlord shall have the right to subordinate or cause to be subordinated any such ground leases
or underlying leases or any such liens to this Lease. If any ground lease or underlying lease terminates for any reason or any mortgage
or deed of trust is foreclosed or a conveyance in lieu of foreclosure is made for any reason, Tenant shall, notwithstanding any subordination,
attorn to and become the Tenant of the successor in interest to Landlord. Within ten (10) days after request by Landlord, Tenant shall
execute and deliver any additional documents evidencing Tenant’s attornment or the subordination of this Lease with respect to any
such ground leases or underlying leases or any such mortgage or deed of trust, in the form requested by Landlord or by any ground landlord,
mortgagee, or beneficiary under a deed of trust, subject to such nondisturbance requirement.

 

17.
FINANCIAL STATEMENTS

 

At Landlord’s
request from time to time, Tenant shall deliver to Landlord a copy, certified by an officer of Tenant as being a true and correct copy,
of Tenant’s most recent audited financial statement, or, if unaudited, certified by Tenant’s chief financial officer as being
true, complete and correct in all material respects. At the request of Landlord from time to time, Tenant shall provide to Landlord any
guarantor’s current financial statements or other information discussing financial worth of such guarantor, which Landlord shall
use solely for purposes of this Lease and in connection with the ownership, management, financing and disposition of the Project. Tenant
hereby authorizes Landlord to obtain one or more credit reports on Tenant at any time, and shall execute such further authorizations as
Landlord may reasonably require in order to obtain a credit report.

 

18.
ESTOPPEL CERTIFICATE

 

Tenant agrees
from time to time, within ten (10) days after request of Landlord, to deliver to Landlord, or Landlord’s designee, an estoppel certificate
stating that this Lease is in full force and effect, that this Lease has not been modified (or stating all modifications, written or oral,
to this Lease), the date to which Rent has been paid, the unexpired portion of this Lease, that there are no current defaults by Landlord
or Tenant under this Lease (or specifying any such defaults), that the leasehold estate granted by this Lease is the sole interest of
Tenant in the Premises and/or the land at which the Premises are situated, and such other matters pertaining to this Lease as may be reasonably
requested by Landlord or any mortgagee, beneficiary, purchaser or prospective purchaser of the Building or Project or any interest therein.
Failure by Tenant to execute and deliver such certificate shall constitute an acceptance of the Premises and acknowledgment by Tenant
that the statements included are true and correct without exception. Tenant agrees that if Tenant fails to execute and deliver such certificate
within such ten (10) day period, Landlord may execute and deliver such certificate on Tenant’s behalf and that such certificate
shall be binding on Tenant. Landlord and Tenant intend that any statement delivered pursuant to this Paragraph may be relied upon by any
mortgagee, beneficiary, purchaser or prospective purchaser of the Building or Project or any interest therein. The parties agree that
Tenant’s obligation to furnish such estoppel certificates in a timely fashion is a material inducement for Landlord’s execution
of this Lease, and shall be an event of default (without any cure period that might be provided under Paragraph 26.A(3) of this Lease)
if Tenant fails to fully comply or makes any material misstatement in any such certificate.

 

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19.
SECURITY DEPOSIT

 

Tenant agrees
to deposit with Landlord upon execution of this Lease, a security deposit as stated in the Basic Lease Information (the “Security
Deposit”), which sum shall be held and owned by Landlord, without obligation to pay interest, as security for the performance
of Tenant’s covenants and obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of damages
incurred by Landlord in case of Tenant’s default. Upon the occurrence of any event of default by Tenant, Landlord may from time
to time, without prejudice to any other remedy provided herein or by law, use such fund as a credit to the extent necessary to credit
against any arrears of Rent or other payments due to Landlord hereunder, and any other damage, injury, expense or liability caused by
such event of default, and Tenant shall pay to Landlord, on demand, the amount so applied in order to restore the Security Deposit to
its original amount. Although the Security Deposit shall be deemed the property of Landlord, any remaining balance of such deposit shall
be returned by Landlord to Tenant at such time after termination of this Lease that all of Tenant’s obligations under this Lease
have been fulfilled, reduced by such amounts as may be required by Landlord to remedy defaults on the part of Tenant in the payment of
Rent or other obligations of Tenant under this Lease, to repair damage to the Premises, Building or Project caused by Tenant or any Tenant
Parties and to clean the Premises. Landlord may use and commingle the Security Deposit with other funds of Landlord. Tenant hereby waives
the provisions of applicable Regulations, now or hereinafter in force, which restricts the amount or types of claim that a landlord may
make upon a security deposit or imposes upon a landlord (or its successors) any obligation with respect to the handling or return of security
deposits

 

20.
LIMITATION OF TENANT’S REMEDIES

 

The obligations
and liability of Landlord to Tenant for any default by Landlord under the terms of this Lease are not personal obligations of Landlord
or of the individual or other partners of Landlord or its or their partners, directors, officers, or shareholders, and Tenant agrees to
look solely to Landlord’s interest in the Building for the recovery of any amount from Landlord, and shall not look to other assets
of Landlord nor seek recourse against the assets of the individual or other partners of Landlord or its or their partners, directors,
officers or shareholders. Any lien obtained to enforce any such judgment and any levy of execution thereon shall be subject and subordinate
to any lien, mortgage or deed of trust on the Project. Under no circumstances shall Tenant have the right to offset against or recoup
Rent or other payments due and to become due to Landlord hereunder except as expressly provided in this Lease, which Rent and other payments
shall be absolutely due and payable hereunder in accordance with the terms hereof. In no case shall Landlord be liable to Tenant for any
lost profits, damage to business, or any form of special, indirect or consequential damage on account of any breach of this Lease or otherwise,
notwithstanding anything to the contrary contained in this Lease. Tenant hereby waives and agrees not to pursue or claim any excuse or
offset to Tenant’s obligations under this Lease based on the doctrines of impossibility, impracticality, frustration of contract,
frustration of purpose, or other similar legal principles.

 

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21.
ASSIGNMENT AND SUBLETTING

 

		A.	(1) General. This Lease has been negotiated to be and is granted as
an accommodation to Tenant. Accordingly, this Lease is personal to Tenant, and Tenant’s rights granted hereunder do not include
the right to assign this Lease or sublease the Premises, or to receive any excess, either in installments or lump sum, over the Rent which
is expressly reserved by Landlord as hereinafter provided, except as otherwise expressly hereinafter provided. Tenant shall not assign
or pledge this Lease or sublet the Premises or any part thereof, whether voluntarily or by operation of law, or permit the use or occupancy
of the Premises or any part thereof by anyone other than Tenant, or suffer or permit any such assignment, pledge, subleasing or occupancy,
without Landlord’s prior written consent except as provided herein. If Tenant desires to assign this Lease or sublet any or all
of the Premises, Tenant shall give Landlord written notice (the “Transfer Notice”) at least sixty (60) days prior to
the anticipated effective date of the proposed assignment or sublease, which shall contain all of the information reasonably requested
by Landlord to address Landlord’s decision criteria specified hereinafter. Landlord shall then have a period of thirty (30) days
following receipt of the Transfer Notice to notify Tenant in writing that Landlord elects either: (i) to terminate this Lease as to the
space so affected as of the date so requested by Tenant; or (ii) to consent to the proposed assignment or sublease, subject, however,
to Landlord’s prior written consent of the proposed assignee or subtenant and of any related documents or agreements associated
with the assignment or sublease. If Landlord should fail to notify Tenant in writing of such election within said period, Landlord shall
be deemed to have waived option (i) above, but written consent by Landlord of the proposed assignee or subtenant shall still be required.
If Landlord does not exercise option (i) above, Landlord’s consent to a proposed assignment or sublease shall not be unreasonably
withheld. Consent to any assignment or subletting shall not constitute consent to any subsequent transaction to which this Paragraph 21
applies.

 

(2)
Conditions of Landlord’s Consent. Without limiting the other instances in which it may be reasonable for Landlord to
withhold Landlord’s consent to an assignment or subletting, Landlord and Tenant acknowledge that it shall be reasonable for Landlord
to withhold Landlord’s consent in the following instances: if the proposed assignee does not agree to be bound by and assume the
obligations of Tenant under this Lease in form and substance satisfactory to Landlord; the use of the Premises by such proposed assignee
or subtenant would not be a Permitted Use or would violate any exclusivity or other arrangement which Landlord has with any other tenant
or occupant or any Regulation or would increase the Parking Density of the Building or Project, or would otherwise result in an undesirable
tenant mix for the Project as determined by Landlord; the proposed assignee or subtenant is not of sound financial condition as determined
by Landlord in Landlord’s sole discretion; the proposed assignee or subtenant is a governmental agency; the proposed assignee or
subtenant does not have a good reputation as a tenant of property or a good business reputation; the proposed assignee or subtenant is
a person with whom Landlord is negotiating to lease space in the Project or is a present tenant of the Project; the assignment or subletting
would entail any Alterations which would lessen the value of the leasehold improvements in the Premises or use of any Hazardous Materials
or other noxious use or use which may disturb other tenants of the Project; or Tenant is in default of any obligation of Tenant under
this Lease, or Tenant has defaulted under this Lease on three (3) or more occasions during any twelve (12) months preceding the date that
Tenant shall request consent. It shall also be a reasonable basis for Landlord to withhold its consent if Tenant tenders for Landlord’s
approval an assignment of this Lease or a sublease of the Premises or any part of the Premises to a proposed assignee/subtenant whose
proposed use or operation in the Premises may or will cause the Building or any part thereof not to conform with the environmental and
green building clauses in this Lease. Failure by or refusal of Landlord to consent to a proposed assignee or subtenant shall not cause
a termination of this Lease. Upon a termination under Paragraph 21.A.(1)(i), Landlord may lease the Premises to any party, including parties
with whom Tenant has negotiated an assignment or sublease, without incurring any liability to Tenant. At the option of Landlord, a surrender
and termination of this Lease shall operate as an assignment to Landlord of some or all subleases or subtenancies. Landlord shall exercise
this option by giving notice of that assignment to such subtenants on or before the effective date of the surrender and termination. In
connection with each request for assignment or subletting, Tenant shall pay to Landlord Landlord’s standard fee for approving such
requests, as well as all costs incurred by Landlord or any mortgagee or ground lessor in approving each such request and effecting any
such transfer, including, without limitation, reasonable attorneys’ fees.

 

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B.
Bonus Rent. Any Rent or other consideration realized by Tenant under any such sublease or assignment in excess of the Rent
payable hereunder, after amortization of a reasonable brokerage commission incurred by Tenant, shall be divided and paid, twenty-five
percent (25%) to Tenant, seventy-five percent (75%) to Landlord. In any subletting or assignment undertaken by Tenant, Tenant shall diligently
seek to obtain the maximum rental amount available in the marketplace for comparable space available for primary leasing.

 

C.
Corporation. If Tenant is a corporation, a transfer of corporate shares by sale, assignment, bequest, inheritance, operation
of law or other disposition (including such a transfer to or by a receiver or trustee in federal or state bankruptcy, insolvency or other
proceedings) resulting in a change in the present control of such corporation or any of its parent corporations by the person or persons
owning a majority of said corporate shares, shall constitute an assignment for purposes of this Lease.

 

D.
Unincorporated Entity. If Tenant is a partnership, joint venture, unincorporated limited liability company or other unincorporated
business form, a transfer of the interest of persons, firms or entities responsible for managerial control of Tenant by sale, assignment,
bequest, inheritance, operation of law or other disposition, so as to result in a change in the present control of said entity and/or
of the underlying beneficial interests of said entity and/or a change in the identity of the persons responsible for the general credit
obligations of said entity shall constitute an assignment for all purposes of this Lease.

 

E.
Liability. No assignment or subletting by Tenant, permitted or otherwise, shall relieve Tenant of any obligation under this
Lease or any guarantor of this Lease of any liability under its guaranty or alter the primary liability of the Tenant named herein for
the payment of Rent or for the performance of any other obligations to be performed by Tenant, including obligations contained in Paragraph
25 with respect to any assignee or subtenant. Landlord may collect rent or other amounts or any portion thereof from any assignee, subtenant,
or other occupant of the Premises, permitted or otherwise, and apply the net rent collected to the Rent payable hereunder, but no such
collection shall be deemed to be a waiver of this Paragraph 21, or the acceptance of the assignee, subtenant or occupant as tenant, or
a release of Tenant from the further performance by Tenant of the obligations of Tenant under this Lease or any guarantor of this Lease
of any liability under its guaranty. Any assignment or subletting which conflicts with the provisions hereof shall be void.

 

22.
AUTHORITY

 

Landlord represents
and warrants that it has full right and authority to enter into this Lease and to perform all of Landlord’s obligations hereunder
and that all persons signing this Lease on its behalf are authorized to do. Tenant and the person or persons, if any, signing on behalf
of Tenant, jointly and severally represent and warrant that Tenant has full right and authority to enter into this Lease, and to perform
all of Tenant’s obligations hereunder, and that all persons signing this Lease on its behalf are authorized to do so.

 

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23.
CONDEMNATION

 

A. Condemnation
Resulting in Termination. If the whole or any substantial part of the Premises should be taken or condemned for any public use
under any Regulation, or by right of eminent domain, or by private purchase in lieu thereof, and the taking would prevent or
materially interfere with the Permitted Use of the Premises, either party shall have the right to terminate this Lease at its
option. If any material portion of the Building or Project is taken or condemned for any public use under any Regulation, or by
right of eminent domain, or by private purchase in lieu thereof, Landlord may terminate this Lease at its option. In either of such
events, the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of said Premises
shall have occurred.

 

B. Condemnation
Not Resulting in Termination. If a portion of the Project of which the Premises are a part should be taken or condemned for any public
use under any Regulation, or by right of eminent domain, or by private purchase in lieu thereof, and the taking prevents or materially
interferes with the Permitted Use of the Premises, and this Lease is not terminated as provided in Paragraph 23.A. above, the Rent payable
hereunder during the unexpired portion of this Lease shall be reduced, beginning on the date when the physical taking shall have occurred,
to such amount as may be fair and reasonable under all of the circumstances, but only after giving Landlord credit for all sums received
or to be received by Tenant by the condemning authority. Notwithstanding anything to the contrary contained in this Paragraph, if the
temporary use or occupancy of any part of the Premises shall be taken or appropriated under power of eminent domain during the Term, this
Lease shall be and remain unaffected by such taking or appropriation and Tenant shall continue to pay in full all Rent payable hereunder
by Tenant during the Term; in the event of any such temporary appropriation or taking, Tenant shall be entitled to receive that portion
of any award which represents compensation for the use of or occupancy of the Premises during the Term.

 

C. Award.
Landlord shall be entitled to (and Tenant shall assign to Landlord) any and all payment, income, rent, award or any interest therein whatsoever
which may be paid or made in connection with such taking or conveyance and Tenant shall have no claim against Landlord or otherwise for
any sums paid by virtue of such proceedings, whether or not attributable to the value of any unexpired portion of this Lease, except as
expressly provided in this Lease. Notwithstanding the foregoing, any compensation specifically and separately awarded Tenant for Tenant’s
personal property and moving costs, shall be and remain the property of Tenant. Each party waives the provisions of applicable Law allowing
either party to petition the superior court to terminate this Lease as a result of a partial taking.

 

D. Waivers.
Each party waives the provisions of any statute allowing either party to petition the superior court to terminate this Lease as a result
of a partial taking. Notwithstanding anything herein to the contrary, however, a regulatory action, ordinance or applicable Laws limiting
or temporarily prohibiting Tenant’s right to enter or use the Premises or the Building shall not be construed as a taking or appropriation
hereunder and Tenant shall have no right to rent abatement as a result thereof.

 

24.
CASUALTY DAMAGE

 

A. General.
If the Premises or Building should be damaged or destroyed by fire, tornado, or other casualty (collectively, “Casualty”),
Tenant shall give immediate written notice thereof to Landlord. Within thirty (30) days after Landlord’s receipt of such notice,
Landlord shall notify Tenant whether in Landlord’s estimation material restoration of the Premises can reasonably be made within
one hundred eighty (180) days from the date of such notice and receipt of required permits for such restoration. Landlord’s determination
shall be binding on Tenant.

 

B. Within
180 Days. If the Premises or Building should be damaged by Casualty to such extent that material restoration can in Landlord’s
estimation be reasonably completed within one hundred eighty (180) days after the date of such notice and receipt of required permits
for such restoration, this Lease shall not terminate. Provided that insurance proceeds are received by Landlord to fully repair the damage,
Landlord shall proceed to rebuild and repair the Premises diligently and in the manner determined by Landlord, except that Landlord shall
not be required to rebuild, repair or replace any part of any Alterations which may have been placed on or about the Premises or paid
for by Tenant. If the Premises are untenantable in whole or in part following such damage, the Rent payable hereunder during the period
in which they are untenantable shall be abated proportionately, but only to the extent of rental abatement insurance proceeds received
by Landlord during the time and to the extent the Premises are unfit for occupancy.

 

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C. Greater
than 180 Days. If the Premises or Building should be damaged by Casualty to such extent that rebuilding or repairs cannot in Landlord’s
estimation be reasonably completed within one hundred eighty (180) days after the date of such notice and receipt of required permits
for such rebuilding or repair, then Landlord shall have the option of either: (1) terminating this Lease effective upon the date of the
occurrence of such damage, in which event the Rent shall be abated during the unexpired portion of this Lease; or (2) electing to rebuild
or repair the Premises diligently and in the manner determined by Landlord. Landlord shall notify Tenant of its election within thirty
(30) days after Landlord’s receipt of notice of the damage or destruction. Notwithstanding the above, Landlord shall not be required
to rebuild, repair or replace any part of any Alterations which may have been placed, on or about the Premises or paid for by Tenant.
If the Premises are untenantable in whole or in part following such damage, the Rent payable hereunder during the period in which they
are untenantable shall be abated proportionately, but only to the extent of rental abatement insurance proceeds received by Landlord during
the time and to the extent the Premises are unfit for occupancy.

 

D. Tenant’s
Fault. Notwithstanding anything herein to the contrary, if the Premises or any other portion of the Building are damaged by Casualty
resulting from the fault, negligence, or breach of this Lease by Tenant or any of the Tenant Parties, Base Rent and Additional Rent shall
not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the cost and expense of the repair and restoration
of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds.

 

E. Insurance
Proceeds. Notwithstanding anything herein to the contrary, if the Premises or Building are damaged or destroyed and are not fully
covered by the insurance proceeds received by Landlord or if the holder of any indebtedness secured by a mortgage or deed of trust covering
the Premises requires that the insurance proceeds be applied to such indebtedness, then in either case Landlord shall have the right to
terminate this Lease by delivering written notice of termination to Tenant within thirty (30) days after the date of notice to Landlord
that said damage or destruction is not fully covered by insurance or such requirement is made by any such holder, as the case may be,
whereupon this Lease shall terminate.

 

F. Waiver.
This Paragraph 24 shall be Tenant’s sole and exclusive remedy in the event of damage or destruction to the Premises or the Building.
As a material inducement to Landlord entering into this Lease, Tenant hereby waives any rights it may have under applicable Law with respect
to any destruction of the Premises, Landlord’s obligation for tenantability of the Premises and Tenant’s right to make repairs
and deduct the expenses of such repairs, or under any similar law, statute or ordinance now or hereafter in effect.

 

G. Tenant’s
Personal Property. In the event of any damage or destruction of the Premises or the Building, under no circumstances shall Landlord
be required to repair any injury or damage to, or make any repairs to or replacements of, Tenant’s personal property.

 

25.
HOLDING OVER

 

Unless Landlord expressly
consents in writing to Tenant’s holding over, Tenant shall be unlawfully and illegally in possession of the Premises, whether
or not Landlord accepts any rent from Tenant or any other person while Tenant remains in possession of the Premises without
Landlord’s written consent. If Tenant shall retain possession of the Premises or any portion thereof without Landlord’s
consent following the expiration of this Lease or sooner termination for any reason, then Tenant shall pay to Landlord Two Hundred
Percent (200%) of the greater of (a) the amount of the Annual Rent for the last period prior to the date of such termination plus
Tenant’s Proportionate Share of Operating Expenses; and (b) the then market rental value of the Premises as determined by
Landlord assuming a new lease of the Premises of the then usual duration and other terms, in either case, prorated on a daily basis,
and also pay all damages sustained by Landlord by reason of such retention. Tenant shall also indemnify, defend, protect and hold
Landlord harmless from any loss, liability or cost, including consequential and incidental damages and reasonable attorneys’
fees, incurred by Landlord resulting from delay by Tenant in surrendering the Premises, including, without limitation, any claims
made by the succeeding tenant founded on such delay. Acceptance of Rent by Landlord following expiration or earlier termination of
this Lease, or following demand by Landlord for possession of the Premises, shall not constitute a renewal of this Lease, and
nothing contained in this Paragraph 25 shall waive Landlord’s right of reentry or any other right. Additionally, if upon
expiration or earlier termination of this Lease, or following demand by Landlord for possession of the Premises, Tenant has not
fulfilled its obligation with respect to repairs and cleanup of the Premises or any other Tenant obligations as set forth in this
Lease, then Landlord shall have the right to perform any such obligations as it deems necessary at Tenant’s sole cost and
expense, and any time required by Landlord to complete such obligations shall be considered a period of holding over and the terms
of this Paragraph 25 shall apply. The provisions of this Paragraph 25 shall survive any expiration or earlier termination of this
Lease.

 

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26.
DEFAULT

 

		A.	Events of Default. The occurrence of any of the following shall constitute an event of default on the part of Tenant:

 

(1)
Abandonment. Abandonment or vacation of the Premises for a continuous period in excess of five (5) days.

 

(2) Nonpayment
of Rent. Failure to pay any installment of Rent or any other amount due and payable hereunder upon the date when said payment is due,
as to which time is of the essence.

 

(3) Other
Obligations. Failure to perform any obligation, agreement or covenant under this Lease other than those matters specified in subparagraphs
(1) and (2) of this Paragraph 26.A., and in Paragraphs 8, 16, 18 and 25, such failure continuing for fifteen (15) days after written notice
of such failure, as to which time is of the essence.

 

(4)
General Assignment. A general assignment by Tenant for the benefit of creditors.

 

(5) Bankruptcy.
The filing of any voluntary petition in bankruptcy by Tenant, or the filing of an involuntary petition by Tenant’s creditors, which
involuntary petition remains undischarged for a period of thirty (30) days. If under applicable law, the trustee in bankruptcy or Tenant
has the right to affirm this Lease and continue to perform the obligations of Tenant hereunder, such trustee or Tenant shall, in such
time period as may be permitted by the bankruptcy court having jurisdiction, cure all defaults of Tenant hereunder outstanding as of the
date of the affirmance of this Lease and provide to Landlord such adequate assurances as may be necessary to ensure Landlord of the continued
performance of Tenant’s obligations under this Lease.

 

(6) Receivership.
The employment of a receiver to take possession of substantially all of Tenant’s assets or the Premises, if such appointment remains
undismissed or undischarged for a period of fifteen (15) days after the order therefor.

 

(7) Attachment.
The attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets or Tenant’s leasehold of
the Premises, if such attachment or other seizure remains undismissed or undischarged for a period of fifteen (15) days after the levy
thereof.

 

(8)
Insolvency. The admission by Tenant in writing of its inability to pay its debts as they become due.

 

		B.	Remedies Upon Default.

 

(1) Terminate
Lease. Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do
so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearages in rent, enter upon and take
possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part of the Premises,
by self-help means, at Landlord’s option, without being liable for prosecution or any claim of damages therefor, and Tenant agrees
to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through
inability to relet the Premises on satisfactory terms or otherwise. Landlord’s right to any of all damages and remedies shall survive
termination of this Lease.

 

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(2) Recover
Possession. Enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the
Premises or any part of the Premises, by self-help means, at Landlord’s option, without being liable for prosecution or any claim
for damages, and relet the Premises for such terms ending before, on or after the expiration date of the Term of this Lease, at such rentals
and upon such other conditions (including concessions and prior occupancy periods) as Landlord in its sole discretion may determine, and
receive the rent for such reletting; and Tenant agrees to pay to Landlord on demand any deficiency that may arise by reason of such reletting
together with all costs incurred by Landlord in connection with such reletting (including without limitation attorneys’ fees and
costs). Landlord shall have no obligation to relet the Premises in advance of any other available space owned by Landlord and shall not
be liable for refusal or failure to relet or in the event of reletting for refusal or failure to collect any rent due upon such reletting.
In the event Landlord is successful in reletting the Premises at a rental in excess of that agreed to be paid by Tenant pursuant to the
terms of this Lease, Landlord and Tenant each mutually agree that Tenant shall not be entitled, under any circumstances, to such excess
rental, and Tenant does hereby specifically waive any claim to such excess rental..

 

(3) Right
to Cure. Enter upon the Premises, by self-help, at Landlord’s option, without being liable for prosecution or any claim for
damages therefor, and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on
demand for any expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease (including
without limitation attorneys’ fees and costs), and Tenant further agrees that Landlord shall not be liable for any damages resulting
to Tenant from such action, whether caused by the negligence of Landlord or otherwise.

 

(4) Damages
After Default. Whether or not Landlord terminates this Lease, retakes possession or relets the Premises, Landlord shall have the right
to recover unpaid Rent and all damages caused by Tenant’s default, including, without limitation, attorneys’ fees and costs.
Damages shall include, without limitation,: (1) the worth at the time of award of the unpaid Rent and other amounts which had been earned
at the time of termination, (2) the worth at the time of award of the amount by which the unpaid Rent and other amounts that would have
been earned after the date of termination until the time of award exceeds the amount of such Rent loss that Tenant proves could have been
reasonably avoided; (3) the worth at the time of award of the amount by which the unpaid Rent and other amounts for the balance of the
Term after the time of award exceeds the amount of such Rent loss that the Tenant proves could be reasonably avoided; and (4) any other
amount and court costs necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform Tenant’s
obligations under this Lease or which, in the ordinary course of things, would be likely to result therefrom. The “worth at the
time of award” as used in (1) and (2) above shall be computed at the Applicable Interest Rate (defined below). The “worth
at the time of award” as used in (3) above shall be computed by discounting such amount at the Federal Discount Rate of the Federal
Reserve Bank of San Francisco at the time of award plus one percent (1%). If this Lease provides for any periods during the Term during
which Tenant is not required to pay Base Rent or if Tenant otherwise receives a Rent concession, then upon the occurrence of an event
of default, Tenant shall owe to Landlord the full amount of such Base Rent or value of such Rent concession, plus interest at the Applicable
Interest Rate, calculated from the date that such Base Rent or Rent concession would have been payable.

 

(5) Multiple
Actions. Landlord may sue periodically to recover damages during the period corresponding to the remainder of the Term, and no action
for damages shall bar a later action for damages subsequently accruing.

 

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(6) Cumulative
Remedies. Pursuit of any of the foregoing remedies shall not preclude Landlord from pursuit of any of the other remedies provided
in this Lease or any other remedies provided by law or at equity, such remedies being cumulative and nonexclusive, nor shall pursuit of
any remedy in this Lease provided constitute a forfeiture or waiver of any rent due to Landlord under this Lease or of any damages accruing
to Landlord by reason of the violation of any of the terms, provisions, conditions, and covenants contained in this Lease. No act or thing
done by Landlord or its agents shall be deemed a termination of this Lease or an acceptance of the surrender of the Premises, and no agreement
to terminate this Lease or accept a surrender of the Premises shall be valid unless in writing signed by Landlord. No waiver by Landlord
of any violation or breach of any of the terms, provisions and covenants contained in this Lease shall be deemed or construed to constitute
a waiver of any other violation or breach of any of the terms, provisions, conditions, and covenants contained in this Lease. Landlord’s
acceptance of the payment of rental or other payments under this Lease after the occurrence of an Event of Default shall not be construed
as a waiver of such default, unless Landlord so notifies Tenant in writing. Forbearance by Landlord from enforcing one or more of the
remedies provided in this Lease upon an event of default shall not be deemed or construed to constitute a waiver of such default or of
Landlord’s right to enforce any such remedies with respect to such default or any subsequent default.

 

(7) Increased
Security Deposit. If Tenant is in default under Paragraph 26.A.(2) hereof and such default remains uncured for ten (10) days after
such occurrence or such default occurs more than three times in any twelve (12) month period, Landlord may require that Tenant increase
the Security Deposit to the amount of three times the current month’s Rent at the time of the most recent default.

 

		C.	Late Charge. In addition to its other remedies, Landlord shall have the right without notice or
demand to add to the amount of any payment required to be made by Tenant hereunder, and which is not paid and received by Landlord on
or before the first day of each calendar month, an amount equal to five percent (5%) of the delinquent amount, or $150.00, whichever amount
is greater, for each month or portion thereof that the delinquency remains outstanding to compensate Landlord for the loss of the use
of the amount not paid and the administrative costs caused by the delinquency, the parties agreeing that Landlord’s damage by virtue
of such delinquencies would be extremely difficult and impracticable to compute and the amount stated herein represents a reasonable estimate
thereof. Any waiver by Landlord of any late charges or failure to claim the same shall not constitute a waiver of other late charges or
any other remedies available to Landlord.

 

		D.	Interest. Interest shall accrue on all sums not paid when due hereunder at the lesser of eighteen
percent (18%) per annum or the maximum interest rate allowed by law (“Applicable Interest Rate”) from the due date
until paid.

 

27.
LIENS

 

Tenant shall at all
times keep the Premises and the Project free from liens arising out of or related to work or services performed, materials or supplies
furnished or obligations incurred by or on behalf of Tenant or in connection with work made, suffered or done by or on behalf of Tenant
in or on the Premises or Project. If Tenant shall not, within ten (10) days following the imposition of any such lien, cause the same
to be released of record by payment or posting of a proper bond, Landlord shall have, in addition to all other remedies provided herein
and by law, the right, but not the obligation, to cause the same to be released by such means as Landlord shall deem proper, including
payment of the claim giving rise to such lien. All sums paid by Landlord on behalf of Tenant and all expenses incurred by Landlord in
connection therefor shall be payable to Landlord by Tenant on demand with interest at the Applicable Interest Rate as Additional Rent.
Landlord shall have the right at all times to post and keep posted on the Premises any notices permitted or required by law, or which
Landlord shall deem proper, for the protection of Landlord, the Premises, the Project and any other party having an interest therein,
from mechanics’ and materialmen’s liens, and Tenant shall give Landlord not less than ten (10) business days prior written
notice of the commencement of any work in the Premises or Project which could lawfully give rise to a claim for mechanics’ or materialmen’s
liens to permit Landlord to post and record a timely notice of non-responsibility, as Landlord may elect to proceed or as the law may
from time to time provide, for which purpose, if Landlord shall so determine, Landlord may enter the Premises. Tenant shall not remove
any such notice posted by Landlord without Landlord’s consent, and in any event not before completion of the work which could lawfully
give rise to a claim for mechanics’ or materialmen’s liens.

 

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28.
SUBSTITUTION

 

A. At
any time after execution of this Lease, Landlord may substitute for the Premises other premises in the Project or owned by Landlord in
the vicinity of the Project (the “New Premises”) upon not less than sixty (60) days prior written notice, in which
event the New Premises shall be deemed to be the Premises for all purposes hereunder and this Lease shall be deemed modified accordingly
to reflect the new location and shall remain in full force and effect as so modified, provided that:

 

(1)
The New Premises shall be similar in area and in function for Tenant’s purposes; and

 

(2) If
Tenant is occupying the Premises at the time of such substitution, Landlord shall pay the expense of physically moving Tenant, Tenant’s
property and equipment to the New Premises and shall, at Landlord’s sole cost, improve the New Premises with improvements substantially
similar to those the Landlord has committed to provide or has provided in the Premises.

 

29.
TRANSFERS BY LANDLORD

 

In the event of a
sale or conveyance by Landlord of the Building or a foreclosure by any creditor of Landlord, the same shall operate to release Landlord
from any liability upon any of the covenants or conditions, express or implied, herein contained in favor of Tenant, to the extent required
to be performed after the passing of title to Landlord’s successor-in-interest. In such event, Tenant agrees to look solely to the
responsibility of the successor-in-interest of Landlord under this Lease with respect to the performance of the covenants and duties of
“Landlord” to be performed after the passing of title to Landlord’s successor-in-interest. This Lease shall not be affected
by any such sale and Tenant agrees to attorn to the purchaser or assignee. Landlord’s successor(s)-in-interest shall not have liability
to Tenant with respect to the failure to perform any of the obligations of “Landlord,” to the extent required to be performed
prior to the date such successor(s)-in- interest became the owner of the Building.

 

30.
RIGHT OF LANDLORD TO PERFORM TENANT’S COVENANTS

 

All covenants and
agreements to be performed by Tenant under any of the terms of this Lease shall be performed by Tenant at Tenant’s sole cost and
expense and without any abatement of Rent. If Tenant shall fail to pay any sum of money, other than Base Rent, required to be paid by
Tenant hereunder or shall fail to perform any other act on Tenant’s part to be performed hereunder, including Tenant’s obligations
under Paragraph 11 hereof, and such failure shall continue for fifteen (15) days after notice thereof by Landlord, in addition to the
other rights and remedies of Landlord, Landlord may make any such payment and perform any such act on Tenant’s part. In the case
of an emergency, no prior notification by Landlord shall be required. Landlord may take such actions without any obligation and without
releasing Tenant from any of Tenant’s obligations. All sums so paid by Landlord and all incidental costs incurred by Landlord and
interest thereon at the Applicable Interest Rate, from the date of payment by Landlord, shall be paid to Landlord on demand as Additional
Rent.

 

31.
WAIVER

 

If either Landlord
or Tenant waives the performance of any term, covenant or condition contained in this Lease, such waiver shall not be deemed to be a waiver
of any subsequent breach of the same or any other term, covenant or condition contained herein, or constitute a course of dealing contrary
to the expressed terms of this Lease. The acceptance of Rent by Landlord shall not constitute a waiver of any preceding breach by Tenant
of any term, covenant or condition of this Lease, regardless of Landlord’s knowledge of such preceding breach at the time Landlord
accepted such Rent. Failure by Landlord to enforce any of the terms, covenants or conditions of this Lease for any length of time shall
not be deemed to waive or decrease the right of Landlord to insist thereafter upon strict performance by Tenant. Waiver by Landlord of
any term, covenant or condition contained in this Lease may only be made by a written document signed by Landlord, based upon full knowledge
of the circumstances.

 

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32.
NOTICES

 

Each provision of
this Lease or of any applicable governmental laws, ordinances, regulations and other requirements with reference to sending, mailing,
or delivery of any notice or the making of any payment by Landlord or Tenant to the other shall be deemed to be complied with when and
if the following steps are taken:

 

A. Rent.
All Rent and other payments required to be made by Tenant to Landlord hereunder shall be payable to Landlord at Landlord’s Remittance
Address set forth in the Basic Lease Information, or at such other address as Landlord may specify from time to time by written notice
delivered in accordance herewith. Tenant’s obligation to pay Rent and any other amounts to Landlord under the terms of this Lease
shall not be deemed satisfied until such Rent and other amounts have been actually received by Landlord.

 

B. Other.
All notices, demands, consents and approvals which may or are required to be given by either party to the other hereunder shall be
in writing and either personally delivered, sent by commercial overnight courier, mailed, certified or registered, postage prepaid or
sent by facsimile with confirmed receipt (and with an original sent by commercial overnight courier), and in each case addressed to the
party to be notified at the Notice Address for such party as specified in the Basic Lease Information or to such other place as the party
to be notified may from time to time designate by at least fifteen (15) days notice to the notifying party. Notices shall be deemed served
upon receipt or refusal to accept delivery. Tenant appoints as its agent to receive the service of all default notices and notice of commencement
of unlawful detainer proceedings the person in charge of or apparently in charge of occupying the Premises at the time, and, if there
is no such person, then such service may be made by attaching the same on the main entrance of the Premises.

 

C. Required
Notices. Tenant shall immediately notify Landlord in writing of any notice of a violation or a potential or alleged violation of any
Regulation that relates to the Premises or the Project, or of any inquiry, investigation, enforcement or other action that is instituted
or threatened by any governmental or regulatory agency against Tenant or any other occupant of the Premises, or any claim that is instituted
or threatened by any third party that relates to the Premises or the Project.

 

33.
ATTORNEYS’ FEES

 

If Landlord places
the enforcement of this Lease, or any part thereof, or the collection of any Rent due, or to become due hereunder, or recovery of possession
of the Premises in the hands of an attorney, Tenant shall pay to Landlord, upon demand, Landlord’s reasonable attorneys’ fees
and court costs, whether incurred without trial, at trial, appeal or review. In any action which Landlord or Tenant brings to enforce
its respective rights hereunder, the unsuccessful party shall pay all costs incurred by the prevailing party including reasonable attorneys’
fees, to be fixed by the court, and said costs and attorneys’ fees shall be a part of the judgment in said action.

 

34.
SUCCESSORS AND ASSIGNS

 

This Lease shall
be binding upon and inure to the benefit of Landlord, its successors and assigns, and shall be binding upon and inure to the benefit of
Tenant, its successors, and to the extent assignment is approved by Landlord as provided hereunder, Tenant’s assigns.

 

35.
FORCE MAJEURE

 

If performance by
a party of any portion of this Lease is made impossible by any prevention, delay, or stoppage caused by strikes, lockouts, labor disputes,
acts of God, inability to obtain services, labor, or materials or reasonable substitutes for those items, government actions, civil commotions,
pandemics, epidemics, fire or other casualty, or other causes beyond the reasonable control of the party obligated to perform, performance
by that party for a period equal to the period of that prevention, delay, or stoppage is excused; provided, however, that nothing in this
definition shall (a) permit Tenant to hold over in the Premises after the expiration or earlier termination hereof, or (b) excuse any
of Tenant’s monetary obligations, including the payment of Rent, under this Lease.

 

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36.
SURRENDER OF PREMISES

 

Tenant shall, upon
expiration or sooner termination of this Lease, surrender the Premises to Landlord in the same condition as existed on the date Tenant
originally took possession thereof, including, but not limited to, all interior walls cleaned, all interior painted surfaces repainted
in the original color, all holes in walls repaired, all carpets shampooed and cleaned, all HVAC equipment in operating order and in good
repair, and all floors cleaned, waxed, and free of any Tenant-introduced marking or painting, all to the reasonable satisfaction of Landlord.
Tenant shall remove all of its debris from the Project. At or before the time of surrender, Tenant shall comply with the terms of Paragraph
12.A. hereof with respect to Alterations to the Premises and all other matters addressed in such Paragraph. If the Premises are not so
surrendered at the expiration or sooner termination of this Lease, the provisions of Paragraph 25 hereof shall apply. All keys to the
Premises or any part thereof shall be surrendered to Landlord upon expiration or sooner termination of the Term. Tenant shall give written
notice to Landlord at least thirty (30) days prior to vacating the Premises and shall meet with Landlord for a joint inspection of the
Premises at the time of vacating, but nothing contained herein shall be construed as an extension of the Term or as a consent by Landlord
to any holding over by Tenant. In the event of Tenant’s failure to give such notice or participate in such joint inspection, Landlord’s
inspection at or after Tenant’s vacating the Premises shall conclusively be deemed correct for purposes of determining Tenant’s
responsibility for repairs and restoration. Any delay caused by Tenant’s failure to carry out its obligations under this Paragraph
36 beyond the term hereof, shall constitute unlawful and illegal possession of Premises under Paragraph 25 hereof.

 

37.
HAZARDOUS MATERIALS

 

A. General
Restrictions. Tenant shall conduct its business and shall cause each Tenant Party to act in such a manner as to (a) not release or
permit the release of any Hazardous Material in, under, on or about the Premises or Project, or (b) not use, store, generate, treat, discharge,
disperse, handle, manufacture, transport or dispose of (collectively, “Handle”) any Hazardous Materials (other than
incidental amounts of customary cleaning and office supplies) in or about the Premises or Project without the prior written consent of
Landlord, which consent Landlord may withhold in its sole and absolute discretion (“Hazardous Materials Consent Requirements”).
“Hazardous Material” means any hazardous, explosive, radioactive or toxic substance, material or waste which is or becomes
regulated by any local, state or federal governmental authority or agency, including, without limitation, any material or substance which
is (i) defined or listed as a “hazardous waste,” “extremely hazardous waste,” “restricted hazardous waste,”
“hazardous substance,” “hazardous material,” “pollutant” or “contaminant” under any Regulation,
(ii) petroleum or petroleum derivative, (iii) a flammable explosive, (iv) a radioactive material or waste, (v) a polychlorinated biphenyl,
(vi) asbestos or asbestos containing material, (vii) infectious waste, or (viii) a carcinogen.

 

B. Required
Disclosures. Prior to Tenant (and at least five (5) days prior to any assignee or any subtenant of Tenant) taking possession of any
part of the Premises, and on each anniversary of the Commencement Date (each such date is hereinafter referred to as a “Disclosure
Date”), until and including the first Disclosure Date occurring after the expiration or sooner termination of this Lease, Tenant
shall disclose to Landlord in writing the names and amounts of all Hazardous Materials, or any combination thereof, which were Handled
on, in, under or about the Premises or Project for the twelve (12) month period prior to such Disclosure Date, or which Tenant intends
to Handle on, under or about the Premises during the twelve (12) month period following the Disclosure Date by executing and delivering
to Landlord a “Hazardous Materials Questionnaire”, in the form attached hereto as Exhibit D (as updated and
modified by Landlord, from time to time). Tenant’s disclosure obligations under this Paragraph 37.B shall include a requirement that,
to the extent any information contained in a Hazardous Materials Questionnaire previously delivered by Tenant shall become inaccurate
in any material respect, Tenant shall immediately deliver to Landlord a new updated Hazardous Materials Questionnaire.

 

C. Additional
Obligations. If any Hazardous Materials shall be released into the environment comprising or surrounding the Project in connection
with the acts, omissions or operations of Tenant or any Tenant Party, Tenant shall at its sole expense promptly prepare a remediation
plan therefor consistent with applicable Regulations and recommended industry practices (and approved by Landlord and all governmental
agencies having jurisdiction) to fully remediate such release, and thereafter shall prosecute the remediation plan so approved to completion
with all reasonable diligence and to the satisfaction of Landlord and applicable governmental agencies. If any Hazardous Materials are
Handled in, under, on or about the Premises during the Term, or if Landlord determines in good faith that any release of any Hazardous
Material or violation of Hazardous Materials Regulations may have occurred in, on, under or about the Premises during the Term, Landlord
may require Tenant to at Tenant’s sole expense, (i) retain a qualified environmental consultant reasonably satisfactory to Landlord
to conduct a reasonable investigation (an “Environmental Assessment”) of a nature and scope reasonably approved in
writing in advance by Landlord with respect to the existence of any Hazardous Materials in, on, under or about the Premises and providing
a review of all Hazardous Materials activities of Tenant and the Tenant Parties, and (ii) provide to Landlord a reasonably detailed, written
report, prepared in accordance with the institutional real estate standards, of the Environmental Assessment.

 

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D. Indemnity.
Tenant shall indemnify, defend (by counsel reasonably acceptable to Landlord), protect and hold Landlord harmless from and against any
and all claims, liabilities, losses, costs, loss of rents, liens, damages, injuries or expenses (including attorneys’ and consultants’
fees and court costs), demands, causes of action, or judgments directly or indirectly arising out of or related to the use, generation,
storage, release, or disposal of Hazardous Materials by Tenant or any of the Tenant Parties in, on, under or about the Premises, the Building
or the Project or surrounding land or environment, which indemnity shall include, without limitation, damages for personal or bodily injury,
property damage, damage to the environment or natural resources occurring on or off the Premises, losses attributable to diminution in
value or adverse effects on marketability, the cost of any investigation, monitoring, government oversight, repair, removal, remediation,
restoration, abatement, and disposal, and the preparation of any closure or other required plans, whether such action is required or necessary
prior to or following the expiration or earlier termination of this Lease. Neither the consent by Landlord to the use, generation, storage,
release or disposal of Hazardous Materials nor the strict compliance by Tenant with all laws pertaining to Hazardous Materials shall excuse
Tenant from Tenant’s obligation of indemnification pursuant to this Paragraph 37.D. Tenant’s obligations pursuant to the foregoing
indemnity shall survive the expiration or earlier termination of this Lease.

 

38.
MISCELLANEOUS

 

A. General.
The term “Tenant” or any pronoun used in place thereof shall indicate and include the masculine or feminine, the singular
or plural number, individuals, firms or corporations, and their respective successors, executors, administrators and permitted assigns,
according to the context hereof.

 

B.
Time. Time is of the essence regarding this Lease and all of its provisions.

 

C.
Choice of Law. This Lease shall in all respects be governed by the laws of the state in which the Building is located.

 

D. Entire
Agreement. This Lease, together with its Exhibits, addenda and attachments and the Basic Lease Information, contains all the agreements
of the parties hereto and supersedes any previous negotiations. There have been no representations made by the Landlord or understandings
made between the parties other than those set forth in this Lease and its Exhibits, addenda and attachments and the Basic Lease Information.

 

E. Modification.
This Lease may not be modified except by a written instrument signed by the parties hereto. Tenant accepts the area of the Premises as
specified in the Basic Lease Information as the approximate area of the Premises for all purposes under this Lease, and acknowledges and
agrees that no other definition of the area (rentable, usable or otherwise) of the Premises shall apply. Tenant shall in no event be entitled
to a recalculation of the square footage of the Premises, rentable, usable or otherwise, and no recalculation, if made, irrespective of
its purpose, shall reduce Tenant’s obligations under this Lease in any manner, including without limitation the amount of Base Rent
payable by Tenant or Tenant’s Proportionate Share of the Building and of the Project.

 

F. Severability.
If, for any reason whatsoever, any of the provisions hereof shall be unenforceable or ineffective, all of the other provisions shall be
and remain in full force and effect.

 

G.
Recordation. Tenant shall not record this Lease or a short form memorandum hereof.

 

H. Examination
of Lease. Submission of this Lease to Tenant does not constitute an option or offer to lease and this Lease is not effective otherwise
until execution and delivery by both Landlord and Tenant.

 

I. Accord
and Satisfaction. No payment by Tenant of a lesser amount than the total Rent due nor any endorsement on any check or letter accompanying
any check or payment of Rent shall be deemed an accord and satisfaction of full payment of Rent, and Landlord may accept such payment
without prejudice to Landlord’s right to recover the balance of such Rent or to pursue other remedies. All offers by or on behalf
of Tenant of accord and satisfaction are hereby rejected in advance.

 

J. Easements.
Landlord may grant easements on the Project and dedicate for public use portions of the Project without Tenant’s consent; provided
that no such grant or dedication shall materially interfere with Tenant’s Permitted Use of the Premises. Upon Landlord’s request,
Tenant shall execute, acknowledge and deliver to Landlord documents, instruments, maps and plats necessary to effectuate Tenant’s
covenants hereunder.

 

K. Drafting
and Determination Presumption. The parties acknowledge that this Lease has been agreed to by both the parties, that both Landlord
and Tenant have consulted with attorneys with respect to the terms of this Lease and that no presumption shall be created against Landlord
because Landlord drafted this Lease. Except as otherwise specifically set forth in this Lease, with respect to any consent, determination
or estimation of Landlord required or allowed in this Lease or requested of Landlord, Landlord’s consent, determination or estimation
shall be given or made solely by Landlord in Landlord’s good faith opinion, whether or not objectively reasonable. If Landlord fails
to respond to any request for its consent within the time period, if any, specified in this Lease, Landlord shall be deemed to have disapproved
such request.

 

L. Exhibits.
The Basic Lease Information, and the Exhibits, addenda and attachments attached hereto are hereby incorporated herein by this reference
and made a part of this Lease as though fully set forth herein.

 

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M. No
Light, Air or View Easement. Any diminution or shutting off of light, air or view by any structure which may be erected on lands adjacent
to or in the vicinity of the Building shall in no way affect this Lease or impose any liability on Landlord.

 

N. No
Third Party Benefit. This Lease is a contract between Landlord and Tenant and nothing herein is intended to create any third party
benefit.

 

O. Quiet
Enjoyment. Upon payment by Tenant of the Rent, and upon the observance and performance of all of the other covenants, terms and conditions
on Tenant’s part to be observed and performed, Tenant shall peaceably and quietly hold and enjoy the Premises for the term hereby
demised without hindrance or interruption by Landlord or any other person or persons lawfully or equitably claiming by, through or under
Landlord, subject, nevertheless, to all of the other terms and conditions of this Lease. Landlord shall not be liable for any hindrance,
interruption, interference or disturbance by other tenants or third persons, nor shall Tenant be released from any obligations under this
Lease because of such hindrance, interruption, interference or disturbance.

 

P. Electronic
Signatures and Counterparts. Signatures to this Lease transmitted by telecopy or electronic signatures shall be valid and effective
to bind the party so signing. This Lease may be executed in two or more counterparts, each of which shall be deemed an original and all
of which together shall constitute one and the same agreement. FURTHER, THE PARTIES HERETO EXPRESSLY CONSENT AND AGREE THAT THIS LEASE
MAY BE ELECTRONICALLY SIGNED. THE PARTIES AGREE THE ELECTRONIC SIGNATURES APPEARING ON THIS LEASE SHALL BE TREATED, FOR PURPOSES OF VALIDITY,
ENFORCEABILITY AS WELL AS ADMISSIBILITY, THE SAME AS HAND-WRITTEN SIGNATURES.

 

Q. Multiple
Parties. If more than one person or entity is named herein as Tenant, such multiple parties shall have joint and several responsibility
to comply with the terms of this Lease.

 

R. Prorations.
Any Rent or other amounts payable to Landlord by Tenant hereunder for any fractional month shall be prorated based on a month of thirty
(30) days. As used herein, the term “fiscal year” shall mean the calendar year or such other fiscal year as Landlord
may deem appropriate.

 

S. Brokers.
Tenant represents that it has dealt directly with and only with Tenant’s Broker (as defined in the Basic Lease Information) as Tenant’s
broker in connection with this Lease. Tenant shall indemnify and hold Landlord and the Landlord Parties harmless from all claims of any
other brokers claiming to have represented Tenant in connection with this Lease. Landlord agrees to indemnify and hold Tenant and the
Tenant Parties harmless from all claims of any brokers other than Landlord’s Broker (as defined in the Basic Lease Information)
claiming to have represented Landlord in connection with this Lease.

 

T. OFAC.
Tenant hereby represents and warrants that neither Tenant, nor any persons or entities holding any legal or beneficial interest whatsoever
in Tenant, are (i) the target of any sanctions program that is established by Executive Order of the President or published by the Office
of Foreign Assets Control, U.S. Department of the Treasury (“OFAC”); (ii) designated by the President or OFAC pursuant
to the Trading with the Enemy Act, 50 U.S.C. App. § 5, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-
06, the Patriot Act, Public Law 107-56, Executive Order 13224 (September 23, 2001) or any Executive Order of the President issued pursuant
to such statutes; or (iii) named on the following list that is published by OFAC: “List of Specially Designated Nationals and Blocked
Persons.” If the foregoing representation is untrue at any time during the Term, an event of default will be deemed to have occurred,
without the necessity of notice to Tenant.

 

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39.
SHARING SUSTAINABILITY INFORMATION

 

A. Each party shall provide
the other party, upon request made from time to time, with such information about the base building (in the case of a request made
to Landlord) or of the Premises (in the case of a request made to Tenant) as may be in the possession of the party of whom the
request is made or of its architects, engineers or other consultants as may be applicable to determining or maintaining the
sustainability of the Building and/or the Premises. This information may include, but shall not be limited to, information provided
to the U.S. Green Building Council or the Green Building Initiative, or their affiliates or subsidiaries, or any comparable
third-party certification agencies now or hereafter in existence, to substantiate any third-party rating. In addition the Tenant
shall also provide energy, water, and waste data to the Landlord for reporting to such voluntary sustainability surveys such as
GRESB or other industry-driven organization assessing real estate sustainability performance. Each party shall hold the information
so received from the other party as confidential except for its limited use to evidence compliance with any sustainability standard.
A party shall not use, nor allow any of its parent, subsidiary or affiliated entities or architects, engineers, other consultants or
advisors, subtenants, assignees or others claiming by or through that party to use, any of such information to challenge any
sustainability score, rating, certification or other approval granted by any third party.

 

B. Landlord
may, from time to time, decide to develop, maintain and/or operate the Building in accordance with third-party accreditations, ratings
or certifications that relate to sustainability issues, energy efficiency or other comparable goals, including (without limitation) Third
Party Sustainability Standards. Should Landlord make such a decision Tenant shall cooperate with Landlord’s efforts in that regard.
Such cooperation shall include, without limitation, providing Landlord with information within fourteen (14) days after a request is made
about Tenant’s occupancy as may be required by any such third-party agency, such as staffing levels, hours of operation, utility
usage, commuting patterns (to the extent reasonably determinable), cleaning methods, build-out materials and techniques, furniture, fixtures
and equipment inventories, and other purchasing information. The foregoing provisions shall apply whether Landlord affirmatively seeks
an accreditation, rating or certification under a Third Party Sustainability Standard and to thereafter maintain the accreditation, rating
or certification, or to operate voluntarily in accordance with some or all of such Third Party Sustainability Standards but without formally
obtaining the accreditation, rating or certification.

 

C. The
parties hereto agree to comply with all mandatory and voluntary energy, water or other conservation controls or requirements applicable
to office buildings issued by the federal, state, county, municipal or other applicable governments, or any public utility or insurance
carrier including, without limitation, controls on the permitted range of temperature settings in office buildings or requirements necessitating
curtailment of the volume of energy consumption or the hours of operation of the Building. Any terms or conditions of this Lease that
conflict or interfere with compliance by Landlord with such controls or requirements shall be suspended for the duration of such controls
or requirements. It is further agreed that compliance with such controls or requirements shall not be considered an eviction, actual or
constructive, of Tenant from the Premises and shall not entitle Tenant to terminate this Lease or to an abatement or reduction of any
rent payable hereunder.

 

D. Landlord
may, at any time, install separate metering for the Premises or for any specific use within the Premises (including, without limitation,
Tenant’s information technology equipment) for electricity, water, gas, steam, or other utility usage. Such separate metering may
be a direct meter, a submeter, a check meter. Any meter so installed may, at Landlord’s option, be a “smart meter”.
The cost of installation shall be a capital expense that is included in Operating Expenses on an amortized basis over the expected useful
life of the meter. If such a meter is installed, Tenant shall pay for the consumption shown on the meter plus any fee applicable to reading
the meter, either directly to the third-party utility provider in the case of a direct meter or to Landlord in the case of a submeter
or check meter, and Tenant shall report to Landlord Tenant’s usage as measured by the meter. If such a meter is installed, Tenant
shall thereafter not be charged as an Operating Expense for any other tenant’s use of that utility in the other tenant’s own
premises, but shall still be charged its pro rata share for the consumption of that utility in any part of the Building that is not leased
to another tenant.

 

E.
Landlord’s property manager shall act as Tenant’s primary contact for sustainability related matters.

 

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40.
ADDITIONAL PROVISIONS

 

A. Option
to Extend. Provided this Lease is in full force and effect and Tenant is not in default under any of the other terms and conditions
of this Lease at the time of notification or commencement, Tenant shall have one (1) option to renew (the “Extension Option”)
this Lease for a term of five (5) years (the “Extension Term”), for the portion of the Premises being leased by Tenant
as of the date the Extension Term is to commence, on the same terms and conditions set forth in this Lease, except as modified by the
terms, covenants and conditions as set forth below. Notwithstanding the foregoing, Tenant may only exercise the Extension Option hereunder
if (a) at the time of exercise, Tenant is conducting regular, active, ongoing business in, and is in occupancy, (b) at the time of exercise,
no part of the Premises is sublet; and (c) this Lease has not been assigned.

 

(1) If
Tenant elects to exercise the Extension Option, then Tenant shall provide Landlord with written notice no earlier than the date which
is twelve (12) months prior to the expiration of the Term of this Lease but no later than the date which is nine (9) months prior to the
expiration of the Term of this Lease. If Tenant fails to provide such notice, Tenant shall have no further or additional right to extend
or renew the Term of this Lease.

 

(2) The
Base Rent in effect at the expiration of the Term of this Lease shall be increased to reflect the Prevailing Market (defined below) rate.
Landlord shall advise Tenant of the new Base Rent for the Premises no later than thirty (30) days after receipt of Tenant’s written request
therefor. Said request shall be made no earlier than thirty (30) days prior to the first date on which Tenant may exercise the applicable
Extension Option under this Paragraph 40.A. Said notification of the new Base Rent may include a provision for its escalation to provide
for a change in fair market rental between the time of notification and the commencement of the Extension Term. Notwithstanding anything
to the contrary set forth herein, in no event shall the Base Rent for the Extension Term be less than the Base Rent in the preceding period.

 

(3) This
Extension Option is not transferable; the parties hereto acknowledge and agree that they intend that the Extension Option shall be “personal”
to Tenant as set forth above and that in no event will any assignee or sublessee have any rights to exercise the Extension Option.

 

(4) If
the Extension Option is validly exercised or if Tenant fails to validly exercise the Extension Option, Tenant shall have no further right
to extend the Term of this Lease.

 

(5) For
purposes of this Extension Option, “Prevailing Market” shall mean the arms length fair market annual rental rate per
rentable square foot under renewal leases and amendments entered into on or about the date on which the Prevailing Market is being determined
hereunder for space comparable to the Premises in the Building and buildings comparable to the Building in the same rental market in the
Reno, Nevada area as of the date the Extension Term is to commence, taking into account the specific provisions of this Lease which will
remain constant. The determination of Prevailing Market shall take into account any material economic differences between the terms of
this Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions and the manner, if
any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Prevailing Market
shall also take into consideration any reasonably anticipated changes in the Prevailing Market rate from the time such Prevailing Market
rate is being determined and the time such Prevailing Market rate will become effective under this Lease.

 

(6) Notwithstanding
anything herein to the contrary, the Extension Option is subject and subordinate to the expansion rights (whether such rights are designated
as a right of first offer, right of first refusal, expansion option or otherwise) of any tenant of the Building existing on the date hereof.

 

    30

     

    

 

		B.	Building Signage.

 

(1) Tenant
shall be entitled to one tenant identification sign to be located on the Building adjacent to the entrance to the Premises (the “Building
Signage”). The exact location of the Building Signage shall be subject to all applicable Regulations and Landlord’s prior
written approval. The Building Signage shall not be illuminated. Such right to the Building Signage is subject to the following terms
and conditions: (a) Tenant shall submit plans and drawings for the Building Signage to Landlord and to the City of Reno and to any other
public authorities having jurisdiction and shall obtain written approval from Landlord and each such jurisdiction prior to installation,
and shall fully comply with all applicable Regulations; (b) Tenant shall, at Tenant’s sole cost and expense, design, construct and
install the Building Signage; (c) the size, color and design of the Building Signage shall be subject to Landlord’s prior written
approval; and (d) Tenant shall maintain the Building Signage in good condition and repair, and all costs of maintenance and repair shall
be borne by Tenant. Maintenance shall include, without limitation, cleaning. Notwithstanding the foregoing, Tenant shall not be liable
for any fee in connection with Tenant’s right to display the Building Signage in accordance with this Lease. At Landlord’s
option, Tenant’s right to the Building Signage may be revoked and terminated upon occurrence of any of the following events: (i)
Tenant shall be in default under this Lease beyond any applicable cure period; (ii) Tenant occupies less than one hundred percent (100%)
of the Premises; or (iii) this Lease shall terminate or otherwise no longer be in effect.

 

(2) Upon
the expiration or earlier termination of this Lease or at such other time that Tenant’s signage rights are terminated pursuant to
the terms hereof, if Tenant fails to remove the Building Signage and repair the Building in accordance with the terms of this Lease, Landlord
shall cause the Building Signage to be removed from the Building and the Building to be repaired and restored to the condition which existed
prior to the installation of the Building Signage (including, if necessary, the replacement of any precast concrete panels), all at the
sole cost and expense of Tenant and otherwise in accordance with this Lease, without further notice from Landlord. Notwithstanding anything
to the contrary contained in this Lease, Tenant shall pay all costs and expenses for such removal and restoration within five (5) business
days following delivery of an invoice therefor. The rights provided in this Paragraph 40.B shall be non-transferable unless otherwise
agreed by Landlord in writing in its sole discretion.

 

41.
JURY TRIAL WAIVER

 

EACH PARTY HERETO (WHICH INCLUDES ANY
ASSIGNEE, SUCCESSOR HEIR OR PERSONAL REPRESENTATIVE OF A PARTY) SHALL NOT SEEK A JURY TRIAL, HEREBY WAIVES TRIAL BY JURY, AND HEREBY FURTHER
WAIVES ANY OBJECTION TO VENUE IN THE COUNTY IN WHICH THE BUILDING IS LOCATED, AND AGREES AND CONSENTS TO PERSONAL JURISDICTION OF THE
COURTS OF THE STATE IN WHICH THE PROPERTY IS LOCATED, IN ANY ACTION OR PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY HERETO AGAINST
THE OTHER ON ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S
USE OR OCCUPANCY OF THE PREMISES, OR ANY CLAIM OF INJURY OR DAMAGE, OR THE ENFORCEMENT OF ANY REMEDY UNDER ANY STATUTE, EMERGENCY OR OTHERWISE,
WHETHER ANY OF THE FOREGOING IS BASED ON THIS LEASE OR ON TORT LAW. EACH PARTY REPRESENTS THAT IT HAS HAD THE OPPORTUNITY TO CONSULT WITH
LEGAL COUNSEL CONCERNING THE EFFECT OF THIS PARAGRAPH 41. THE PROVISIONS OF THIS PARAGRAPH 41 SHALL SURVIVE THE EXPIRATION OR EARLIER
TERMINATION OF THIS LEASE.

 

[SIGNATURES
ON FOLLOWING PAGE]

 

    31

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed this
Lease as of the day and the year first above written.

 

	LANDLORD	 	TENANT
	 	 	 	 	 
	SW COMMERCE RENO, LLC,	 	SIERRA HOMES, LLC,
	a Delaware limited liability company	 	a Nevada limited liability company
	 	 	 	 	 
	By:	/s/ Lily Kao	 	By: 	Steve Parkey
	Name: 	Lily Kao	 	Name: 	Steve Parkey
	Title: 	Authorized Signatory	 	Title: 	Managing Member
	Dated: 	12/13/2020	 	Dated: 	12/8/2020

 

     

     

    

 

EXHIBIT A

 

RULES AND REGULATIONS

 

This Exhibit is attached
to and made a part of the Lease by and between SW COMMERCE RENO, LLC, a Delaware limited liability company (“Landlord”)
and SIERRA HOMES, LLC, a Nevada limited liability company (“Tenant”) for space in the Building located at 875
East Patriot Boulevard, Reno, Nevada.

 

		1.	Driveways, sidewalks, halls, passages, exits, entrances, elevators, escalators and stairways shall not
be obstructed by tenants or used by tenants for any purpose other than for ingress to and egress from their respective premises. The driveways,
sidewalks, halls, passages, exits, entrances, elevators and stairways are not for the use of the general public and Landlord shall in
all cases retain the right to control and prevent access thereto by all persons whose presence, in the judgment of Landlord, shall be
prejudicial to the safety, character, reputation and interests of the Building, the Project and its tenants, provided that nothing herein
contained shall be construed to prevent such access to persons with whom any tenant normally deals in the ordinary course of such tenant’s
business unless such persons are engaged in illegal activities. No tenant, and no employees or invitees of any tenant, shall go upon the
roof of any Building, except as authorized by Landlord.

 

		2.	No sign, placard, banner, picture, name, advertisement or notice, visible from the exterior of the Premises
or the Building or the common areas of the Building shall be inscribed, painted, affixed, installed or otherwise displayed by Tenant either
on its Premises or any part of the Building or Project without the prior written consent of Landlord in Landlord’s sole and absolute
discretion. Landlord shall have the right to remove any such sign, placard, banner, picture, name, advertisement, or notice without notice
to and at the expense of Tenant, which were installed or displayed in violation of this rule. If Landlord shall have given such consent
to Tenant at any time, whether before or after the execution of Tenant’s Lease, such consent shall in no way operate as a waiver
or release of any of the provisions hereof or of the Lease, and shall be deemed to relate only to the particular sign, placard, banner,
picture, name, advertisement or notice so consented to by Landlord and shall not be construed as dispensing with the necessity of obtaining
the specific written consent of Landlord with respect to any other such sign, placard, banner, picture, name, advertisement or notice.

 

All approved signs or lettering on doors
and walls shall be printed, painted, affixed or inscribed at the expense of Tenant by a person or vendor approved by Landlord and shall
be removed by Tenant at the time of vacancy at Tenant’s expense.

 

		3.	The directory of the Building or Project will be provided exclusively for the display of the name and
location of tenants only and Landlord reserves the right to charge for the use thereof and to exclude any other names therefrom.

 

		4.	No curtains, draperies, blinds, shutters, shades, screens or other coverings, awnings, hangings or decorations
shall be attached to, hung or placed in, or used in connection with, any window or door on the Premises without the prior written consent
of Landlord. In any event with the prior written consent of Landlord, all such items shall be installed inboard of Landlord’s standard
window covering and shall in no way be visible from the exterior of the Building. All electrical ceiling fixtures hung in offices or spaces
along the perimeter of the Building must be fluorescent or of a quality, type, design, and bulb color approved by Landlord. No articles
shall be placed or kept on the window sills so as to be visible from the exterior of the Building. No articles shall be placed against
glass partitions or doors which Landlord considers unsightly from outside Tenant’s Premises.

 

		5.	Each tenant shall be responsible for all persons for whom it allows to enter the Building or the Project
and shall be liable to Landlord for all acts of such persons.

 

    A-1

     

    

 

Landlord and its agents shall not be
liable for damages for any error concerning the admission to, or exclusion from, the Building or the Project of any person.

 

During the continuance of any invasion,
mob, riot, public excitement “shelter in place” or similar governmental order, or other circumstance rendering such action
advisable in Landlord’s opinion or as required by Regulations, Landlord reserves the right (but shall not be obligated) to prevent
access to the Building and the Project during the continuance of that event by any means it considers appropriate for the safety of tenants
and protection of the Building, property in the Building and the Project or otherwise as required by Regulations and in no event shall
the same render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation under the Lease.

 

		6.	Tenant shall not alter any lock or access device or install a new or additional lock or access device
or bolt on any door of its Premises, without the prior written consent of Landlord. If Landlord shall give its consent, Tenant shall in
each case furnish Landlord with a key for any such lock. Tenant, upon the termination of its tenancy, shall deliver to Landlord the keys
for all doors which have been furnished to Tenant, and in the event of loss of any keys so furnished, shall pay Landlord therefor.

 

		7.	The restrooms, toilets, urinals, wash bowls and other apparatus shall not be used for any purpose other
than that for which they were constructed and no foreign substance of any kind whatsoever shall be thrown into them. The expense of any
breakage, stoppage, or damage resulting from violation of this rule shall be borne by the tenant who, or whose employees or invitees,
shall have caused the breakage, stoppage, or damage.

 

		8.	Tenant shall not use or keep in or on the Premises, the Building or the Project any kerosene, gasoline,
or inflammable or combustible fluid or material except in strict accordance with the terms of the Lease.

 

		9.	Tenant shall not use, keep or permit to be used or kept in its Premises any foul or noxious gas or substance.
Tenant shall not allow the Premises to be occupied or used in a manner offensive or objectionable to Landlord or other occupants of the
Building by reason of noise, odors and/or vibrations or interfere in any way with other tenants or those having business therein, nor
shall any animals or birds be brought or kept in or about the Premises, the Building, or the Project.

 

		10.	Except with the prior written consent of Landlord, Tenant shall not sell, or permit the sale, at retail,
of newspapers, magazines, periodicals, theater tickets or any other goods or merchandise in or on the Premises, nor shall Tenant carry
on, or permit or allow any employee or other person to carry on, the business of stenography, typewriting or any similar business in or
from the Premises for the service or accommodation of occupants of any other portion of the Building, or the business of a public barber
shop, beauty parlor, nor shall the Premises be used for any illegal, improper, immoral or objectionable purpose, or any business or activity
other than that specifically provided for in such Tenant’s Lease. Tenant shall not accept hairstyling, barbering, shoeshine, nail,
massage or similar services in the Premises or common areas except as authorized by Landlord.

 

		11.	If Tenant requires telegraphic, telephonic, telecommunications, data processing, burglar alarm or similar
services, it shall first obtain, and comply with, Landlord’s instructions in their installation. The cost of purchasing, installation
and maintenance of such services shall be borne solely by Tenant.

 

		12.	Landlord will direct electricians as to where and how telephone, telegraph and electrical wires are to
be introduced or installed. No boring or cutting for wires will be allowed without the prior written consent of Landlord. The location
of burglar alarms, telephones, call boxes and other office equipment affixed to the Premises shall be subject to the prior written approval
of Landlord.

 

    A-2

     

    

 

		13.	Tenant shall not install any radio or television antenna, satellite dish, loudspeaker or any other device
on the exterior walls or the roof of the Building, without Landlord’s consent. Tenant shall not interfere with radio or television
broadcasting or reception from or in the Building, the Project or elsewhere.

 

		14.	Tenant shall not mark, or drive nails, screws or drill into the partitions, woodwork or drywall or in
any way deface the Premises or any part thereof. Tenant shall not lay linoleum, tile, carpet or any other floor covering so that the same
shall be affixed to the floor of its Premises in any manner except as approved in writing by Landlord. The expense of repairing any damage
resulting from a violation of this rule or the removal of any floor covering shall be borne by the tenant by whom, or by whose contractors,
employees or invitees, the damage shall have been caused.

 

		15.	Tenant shall not place a load upon any floor of its Premises which exceeds the load per square foot which
such floor was designed to carry or which is allowed by law.

 

Business machines and mechanical equipment
belonging to Tenant which cause noise or vibration that may be transmitted to the structure of the Building or to any space therein to
such a degree as to be objectionable to Landlord or to any tenants in the Building shall be placed and maintained by Tenant, at Tenant’s
expense, on vibration eliminators or other devices sufficient to eliminate noise or vibration. The persons employed to move such equipment
in or out of the Building must be acceptable to Landlord.

 

		16.	Each tenant shall store all its trash and garbage within the interior of the Premises or as otherwise
directed by Landlord from time to time. Tenant shall not place in the trash boxes or receptacles any personal trash or any material that
may not or cannot be disposed of in the ordinary and customary manner of removing and disposing of trash and garbage in the city, without
violation of any law or ordinance governing such disposal.

 

		17.	Canvassing, soliciting, distribution of handbills or any other written material and peddling in the Building
and the Project are prohibited and each tenant shall cooperate to prevent the same. No tenant shall make room-to-room solicitation of
business from other tenants in the Building or the Project, without the written consent of Landlord.

 

		18.	Landlord shall have the right, exercisable without notice and without liability to any tenant, to change
the name and address of the Building and the Project.

 

		19.	Landlord reserves the right to exclude or expel from the Project any person who, in Landlord’s judgment,
is under the influence of alcohol or drugs or who commits any act in violation of any of these Rules and Regulations.

 

		20.	Without the prior written consent of Landlord, Tenant shall not use the name of the Building or the Project
or any photograph or other likeness of the Building or the Project in connection with, or in promoting or advertising, Tenant’s
business except that Tenant may include the Building’s or Project’s name in Tenant’s address.

 

		21.	Tenant shall comply with all safety, fire protection and evacuation procedures and regulations established
by Landlord or any governmental agency.

 

		22.	Tenant assumes any and all responsibility for protecting its Premises from theft, robbery and pilferage,
which includes keeping doors locked and other means of entry to the Premises closed.

 

		23.	Landlord reserves the right to designate the use of the parking spaces on the Project. Tenant or Tenant’s
guests shall park between designated parking lines only, and shall not occupy two parking spaces with one car. No trucks, truck tractors,
trailers or fifth wheel are allowed to be parked anywhere at any time within the Project other than in Tenant’s own truck dock well.
Vehicles in violation of the above shall be subject to tow-away, at vehicle owner’s expense. Vehicles parked on the Project overnight
without prior written consent of the Landlord shall be deemed abandoned and shall be subject to tow-away at vehicle owner’s expense.
No tenant of the Building shall park in visitor or reserved parking areas or loading areas. Any tenant found parking in such designated
visitor or reserved parking areas or loading areas or unauthorized areas shall be subject to tow-away at vehicle owner’s expense.
The parking areas shall not be used to provide car wash, oil changes, detailing, automotive repair or other services unless otherwise
approved or furnished by Landlord. Tenant will from time to time, upon the request of Landlord, supply Landlord with a list of license
plate numbers of vehicles owned or operated by its employees or agents.

 

    A-3

     

    

 

		24.	No Tenant is allowed to unload, unpack, pack or in any way manipulate any products, materials or goods
in the common areas of the Project including the parking and driveway areas of the Project. All products, goods and materials must be
manipulated, handled, kept, and stored within the Tenant’s Premises and not in any exterior areas, including, but not limited to,
exterior dock platforms, against the exterior of the Building, parking areas and driveway areas of the Project. Tenant also agrees to
keep the exterior of the Premises clean and free of nails, wood, pallets, packing materials, barrels and any other debris produced from
their operation. All products, materials and goods are to enter and exit the Premises by being loaded or unloaded through dock high doors
into trucks and or trailers, over dock high loading platforms into trucks and or trailers or loaded or unloaded into trucks and or trailers
within the Premises through grade level door access.

 

		25.	Tenant shall be responsible for the observance of all of the foregoing Rules and Regulations by Tenant’s
employees, agents, clients, customers, invitees and guests.

 

		26.	These Rules and Regulations are in addition to, and shall not be construed to in any way modify, alter
or amend, in whole or in part, the terms, covenants, agreements and conditions of any lease of any premises in the Project.

 

		27.	Landlord may waive any one or more of these Rules and Regulations for the benefit of any particular tenant
or tenants, but no such waiver by Landlord shall be construed as a waiver of such Rules and Regulations in favor of any other tenant or
tenants, nor prevent Landlord from thereafter enforcing any such Rules and Regulations against any or all tenants of the Building.

 

		28.	Landlord reserves the right to make such other and reasonable rules and regulations as in its judgment
may from time to time be needed for safety and security, for care and cleanliness of the Building and the Project and for the preservation
of good order therein. Tenant agrees to abide by all such Rules and Regulations herein stated and any additional rules and regulations
which are adopted.

 

		29.	Tenant shall reasonably comply with Landlord’s recycle policy for the Building, including, without
limitation, Tenant shall sort and separate its trash into separate recycling containers as required by law or which may be furnished by
Landlord and located in the Premises. Tenant shall comply with all Regulations regarding the collection, sorting, separation, and recycling
of garbage, waste products, trash and other refuse at the Building. Landlord reserves the right to refuse to collect or accept from Tenant
any trash that is not separated and sorted as required by law or pursuant to Landlord’s recycling policy, and to require Tenant to arrange
for such collection at Tenant’s cost, utilizing a contractor reasonably satisfactory to Landlord.

 

		30.	Tenant acknowledges that the Building, at Landlord’s option, may be operated in accordance with
standards for the certification of environmentally sustainable, high performance buildings or aspects of their performance, including
the U.S. EPA’s Energy Star® rating and, U.S. Green Building Council’s Leadership in Energy and Environmental Design program’s
standards, as the same are amended or replaced from time to time
and similar “green building” standards. To support Landlord’s sustainability practices, Tenant is encouraged to use
reasonable efforts to use proven energy, water carbon reduction, and other sustainable measures, such as for example using energy efficient
bulbs in task lighting, installing lighting controls, such as automatic sensors; turning off lights at the end of the work day; and utilizing
water filtration systems to avoid the use of bottled water.

 

		31.	Tenant shall not permit space heaters or other energy-intensive equipment unnecessary to conduct tenant’s
business without written approval by Landlord. Any space conditioning equipment that is placed in the Premises for the purpose of increasing
comfort to tenants shall be operated on sensors or timers that limit operation of equipment to hours of occupancy in the areas immediately
adjacent to the occupying personnel.

 

		32.	Tenant acknowledges that it is Landlord’s intention that the Property be operated in a manner which
is consistent with LEED-EB: O&M sustainability practices. Tenant is required to comply with these practices within its Premises.

 

		33.	Landlord reserves the right to make such other and reasonable rules and regulations as in its judgment
may from time to time be needed for safety and security, for care and cleanliness of the Building and the Project and for the preservation
of good order therein. Tenant agrees to abide by all

 

 

A-4Exhibit 10.31

 

INDEPENDENT DIRECTOR AGREEMENT

 

INDEPENDENT DIRECTOR AGREEMENT
(this “Agreement”), dated _________, by and between 1847 Holdings LLC,
a Delaware limited liability company (the “Company”), and the undersigned (the “Director”).

 

RECITALS

 

The Company desires to appoint
the Director to serve on the Company’s board of directors (the “Board”), which may include membership on one
or more committees of the Board, and the Director desires to accept such appointment to serve on the Board, effective as of the Effective
Date (as defined below).

 

AGREEMENT

 

NOW THEREFORE, in consideration
of the mutual promises contained herein, the adequacy and sufficiency of which are hereby acknowledged, and intending to be legally bound
hereby, the Company and the Director hereby agree as follows:

 

1. Duties.
The Company requires that the Director be available to perform the duties of an independent director customarily related to this function
as may be determined and assigned by the Board and as may be required by the Company’s constituent instruments, including its certificate
of formation and operating agreement, as amended, and its corporate governance and board committee charters, each as amended or modified
from time to time, and by applicable law. The Director agrees to devote as much time as is necessary to perform completely the duties
as a Director of the Company, including duties as a member of one or more committees of the Board to which the Director may hereafter
be appointed. The Director will perform such duties described herein in accordance with the general fiduciary duty of directors.

 

2. Term.
The term of this Agreement shall commence as of the effective date of the Director’s appointment to the Board (the “Effective
Date”) and shall continue until the Director’s resignation or removal.

 

3. Compensation.
For all services to be rendered by the Director in any capacity hereunder, the Company agrees to pay the Director an annual fee of $35,000,
which annual fee shall be paid to the Director monthly commencing in the first month following the Effective Date. In addition, the Director
shall receive an annual grant of $35,000 of restricted shares, restricted share units and/or share options, subject to approval of the
Board or compensation committee of the Board. Such compensation shall be subject to adjustment from time to time by the Board. The Director
shall be responsible for his or her own individual income tax payment on such compensation in jurisdictions where the Director resides.

 

4. Expenses.
The Company shall reimburse the Director for pre-approved reasonable business related expenses incurred in good faith in connection with
the performance of the Director’s duties for the Company. Such reimbursement shall be made by the Company upon submission by the
Director of a signed statement itemizing the expenses incurred, which shall be accompanied by sufficient documentation to support the
expenditures.

 

     

     

    

 

5. Independence.
The Director acknowledges that his appointment hereunder is contingent upon the Board’s determination that he is
“independent” with respect to the Company, in accordance with the listing requirements of the Nasdaq and NYSE stock
exchanges, and that his appointment may be terminated by the Company in the event that the Director does not maintain such
independence standard.

 

6. Other
Agreements.

 

(a) Confidential
Information and Insider Trading. The Company and the Director each acknowledge that, in order for the intentions and purposes of this
Agreement to be accomplished, the Director shall necessarily be obtaining access to certain confidential information concerning the Company
and its affairs, including, but not limited to, business methods, information systems, financial data and strategic plans which are unique
assets of the Company (as further defined below, the “Confidential Information”) and that the communication of such
Confidential Information to third parties could irreparably injure the Company and its business. Accordingly, the Director agrees that,
during his association with the Company and thereafter, he will treat and safeguard as confidential and secret all Confidential Information
received by him at any time and that, without the prior written consent of the Company, he will not disclose or reveal any of the Confidential
Information to any third party whatsoever or use the same in any manner except in connection with the business of the Company and in any
event in no way harmful to or competitive with the Company or its business. For purposes of this Agreement, “Confidential Information”
includes any information not generally known to the public or recognized as confidential according to standard industry practice, any
trade secrets, know-how, development, manufacturing, marketing and distribution plans and information, inventions, formulas, methods or
processes, whether or not patented or patentable, pricing policies and records of the Company (and such other information normally understood
to be confidential or otherwise designated as such in writing by the Company), all of which the Director expressly acknowledges and agrees
shall be confidential and proprietary information belonging to the Company. Upon termination of his association with the Company, the
Director shall return to the Company all documents and papers relating to the Company, including any Confidential Information, together
with any copies thereof, or certify that he or she has destroyed all such documents and papers. Furthermore, the Director recognizes that
the Company has received and in the future will receive confidential or proprietary information from third parties subject to a duty on
the Company’s part to maintain the confidentiality of such information and, in some cases, to use it only for certain limited purposes.
The Director agrees that the Director owes the Company and such third parties, both during the term of the Director’s association
with the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to,
except as is consistent with the Company’s agreement with the third party, disclose it to any person or entity or use it for the
benefit of anyone other than the Company or such third party, unless expressly authorized to act otherwise by an officer of the Company.
In addition, the Director acknowledges and agrees that the Director may have access to “material non-public information” for
purposes of the federal securities laws and that the Director will abide by all securities laws relating to the handling of and acting
upon such information.

 

    2

     

    

 

(b) Disparaging
Statements. At all times during and after the period in which the Director is a member of the Board and at all times thereafter, the
Director shall not either verbally, in writing, electronically or otherwise: (i) make any derogatory or disparaging statements about the
Company, any of its affiliates, any of their respective officers, directors, shareholders, employees and agents, or any of the Company’s
current or past customers or employees, or (ii) make any public statement or perform or do any other act prejudicial or injurious to the
reputation or goodwill of the Company or any of its affiliates or otherwise interfere with the business of the Company or any of its affiliates;
provided, however, that nothing in this paragraph shall preclude the Director from complying with all obligations imposed by law or legal
compulsion, and provided, further, however, that nothing in this paragraph shall be deemed applicable to any testimony given by the Director
in any legal or administrative proceedings.

 

(c) Enforcement.
The Director acknowledges and agrees that the covenants contained herein are reasonable, that valid consideration has been and will be
received and that the agreements set forth herein are the result of arms-length negotiations between the parties hereto. The Director
recognizes that the provisions of this Section 6 are vitally important to the continuing welfare of the Company and its affiliates and
that any violation of this Section 6 could result in irreparable harm to the Company and its affiliates for which money damages would
constitute a totally inadequate remedy. Accordingly, in the event of any such violation by the Director, the Company and its affiliates,
in addition to any other remedies they may have, shall have the right to institute and maintain a proceeding to compel specific performance
thereof or to obtain an injunction or other equitable relief restraining any action by the Director in violation of this Section 6 without
posting any bond therefore or demonstrating actual damages, and the Director will not claim as a defense thereto that the Company has
an adequate remedy at law or require the posting of a bond. If any of the restrictions or activities contained in this Section 6 shall
for any reason be held by a court of competent jurisdiction to be excessively broad as to duration, geographical scope, activity or subject,
such restrictions shall be construed so as thereafter to be limited or reduced to be enforceable to the extent compatible with the applicable
law; it being understood that by the execution of this Agreement the parties hereto regard such restrictions as reasonable and compatible
with their respective rights. The Director acknowledges that injunctive relief may be granted immediately upon the commencement of any
such action without notice to the Director and in addition Company may recover monetary damages.

 

(d) Separate
Agreement. The parties hereto further agree that the provisions of Section 6 are separate from and independent of the remainder of
this Agreement and that Section 6 is specifically enforceable by the Company notwithstanding any claim made by the Director against the
Company. The terms of this Section 6 shall survive termination of this Agreement.

 

7. Market
Stand-Off Agreement. In the event of a public or private offering of the Company’s securities and upon request of
the Company, the underwriters or placement agents placing the offering of the Company’s securities, the Director agrees not to sell,
make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any securities of the Company that the Director
may own, other than those included in the registration, without the prior written consent of the Company or such underwriters, as the
case may be, for such period of time from the effective date of such registration as may be requested by the Company or such placement
agent or underwriter.

 

    3

     

    

 

8. Termination.
With or without cause, the Company and the Director may each terminate this Agreement at any time upon ten (10) days written notice, and
the Company shall be obligated to pay to the Director the compensation and expenses due up to the date of the termination. Nothing contained
herein or omitted herefrom shall prevent the shareholder(s) of the Company from removing the Director with immediate effect at any time
for any reason.

 

9. Indemnification.
The Company shall indemnify, defend and hold harmless the Director, to the full extent allowed by the law of the State of Delaware, and
as provided by, or granted pursuant to, any charter provision, bylaw provision, agreement (including, without limitation, the Indemnification
Agreement executed herewith), vote of stockholders or disinterested directors or otherwise, both as to action in the Director’s
official capacity and as to action in another capacity while holding such office. The Company and the Director are executing an indemnification
agreement in the Company’s standard form.

 

10. Effect
Of Waiver. The waiver by either party of the breach of any provision of this Agreement shall not operate as or be construed
as a waiver of any subsequent breach thereof.

 

11. Notice.
Any and all notices referred to herein shall be sufficient if furnished in writing at the addresses specified on the signature page hereto
or, if to the Company, to the Company’s address as specified in filings made by the Company with the U.S. Securities and Exchange
Commission.

 

12. Governing
Law. This Agreement shall be interpreted in accordance with, and the rights of the parties hereto shall be determined by,
the laws of the State of Delaware without reference to that state’s conflicts of laws principles.

 

13. Assignment.
The rights and benefits of the Company under this Agreement shall be transferable, and all the covenants and agreements hereunder shall
inure to the benefit of, and be enforceable by or against, its successors and assigns. The duties and obligations of the Director under
this Agreement are personal and therefore the Director may not assign any right or duty under this Agreement without the prior written
consent of the Company.

 

14. Miscellaneous.
If any provision of this Agreement shall be declared invalid or illegal, for any reason whatsoever, then, notwithstanding such invalidity
or illegality, the remaining terms and provisions of the this Agreement shall remain in full force and effect in the same manner as if
the invalid or illegal provision had not been contained herein. The article headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument.
Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal
ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have
been duly and validly delivered and be valid and effective for all purposes. Except as provided elsewhere herein, this Agreement sets
forth the entire agreement of the parties with respect to its subject matter and supersedes all prior agreements, promises, covenants,
arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any
party to this Agreement with respect to such subject matter.

 

[Signature Page Follows]

 

    4

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Independent Director Agreement to be duly executed and signed as of the day and year first above written.

 

	 	COMPANY:
	 	 	 
	 	1847 Holdings LLC
	 	 	 
	 	By:	            
	 	Name: 	 
	 	Title:	 

 

	 	DIRECTOR:
	 	 
	 	 

 

	 	Address:	           
	 	 	 
	 	 	 

 

 

5

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