Document:

Exhibit
10.2

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of April 5, 2022, by and between CLEARDAY, INC.,
a Delaware corporation, with its address at 8800 Village Drive, Suite 106, San Antonio, Texas 78217 (the “Company”), and
SIXTH STREET LENDING LLC, a Virginia limited liability company, with its address at 1800 Diagonal Road, Suite 623, Alexandria
VA 22314 (the “Buyer”).

 

WHEREAS:

 

A.
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the
Securities Act of 1933, as amended (the “1933 Act”); and

 

B.
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement, a promissory
note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of $172,200.00 (including $18,450.00
of Original Issue Discount) (the “Note”).

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.
Purchase and Sale of the Securities.

 

a.
Purchase of the Securities. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer
agrees to purchase from the Company the Securities as is set forth immediately below the Buyer’s name on the signature pages hereto.

 

b.
Form of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Securities be issued
and sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds to
the Company, in accordance with the Company’s written wiring instructions, against delivery of the Securities, and (ii) the Company
shall deliver such duly executed Note on behalf of the Company against delivery of such Purchase Price.

 

c.
Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section 7 below,
the date and time of the issuance and sale of the Securities pursuant to this Agreement (the “Closing Date”) shall be 12:00
noon, Eastern Standard Time on or about April 5, 2022, or such other mutually agreed upon time. The closing of the transactions contemplated
by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be agreed to by the parties.

 

    	 

     

    

 

2.
Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.
Investment Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion
of or otherwise pursuant to the Note (such shares of Common Stock being collectively referred to herein as the “Conversion Shares”
and, collectively with the Note, the “Securities”) for its own account and not with a present view towards the public sale
or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act.

 

b.
Accredited Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D (an “Accredited Investor”).

 

c.
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the Buyer to acquire the
Securities.

 

d.
Information. The Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information
unless such information is disclosed to the public prior to or promptly following such disclosure to the Buyer.

 

e.
Legends. The Buyer understands that the Securities have not been registered under the 1933 Act; and may bear a restrictive legend
in substantially the following form:

 

“THE
SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR UNDER ANY STATE SECURITIES LAWS, AND MAY NOT BE PLEDGED, SOLD, ASSIGNED, HYPOTHECATED OR OTHERWISE TRANSFERRED UNLESS
(1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR (2)
THE ISSUER OF SUCH SECURITIES RECEIVES AN OPINION OF COUNSEL TO THE BUYER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY
ACCEPTABLE TO THE ISSUER’S TRANSFER AGENT, THAT SUCH SECURITIES MAY BE PLEDGED, SOLD, ASSIGNED, HYPOTHECATED OR OTHERWISE TRANSFERRED
WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.”

 

    	2

     

    

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the Buyer of any Security upon
which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under
an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to an exemption from registration without
any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such Buyer provides
the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to
the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act, which opinion shall be
accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities, including those represented
by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus delivery requirements, if any. In
the event that the Company does not reasonably accept the opinion of counsel that properly conforms to applicable securities laws provided
by the Buyer with respect to the transfer of any Securities pursuant to an exemption from registration, such as Rule 144, at the Deadline,
it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

f.
Authorization; Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered
on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its
terms.

 

3.
Representations and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.
Organization and Qualification. The Company and each of its Subsidiaries (as defined below), if any, is a corporation duly organized,
validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted. “Subsidiaries” means any corporation or other organization, whether incorporated or unincorporated, in which
the Company owns, directly or indirectly, any equity or other ownership interest.

 

b.
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement,
the Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of the transactions
contemplated hereby and thereby (including without limitation, the issuance of the Note has been duly authorized by the Company’s
Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its shareholders is required, (iii)
this Agreement has been duly executed and delivered by the Company by its authorized representative, and such authorized representative
is the true and official representative with authority to sign this Agreement and the other documents executed in connection herewith
and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery by the Company of the Note, each
of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance
with its terms.

 

c.
Capitalization. As of the date hereof, the authorized common stock of the Company consists of 80,000,000 authorized shares of
Common Stock, $0.001 par value per share, of which 14,910,568 shares are issued and outstanding. All of such outstanding shares of capital
stock are, or upon issuance will be, duly authorized, validly issued, fully paid and non-assessable.

 

    	3

     

    

 

d.
Issuance of Shares. The Securities are duly authorized and reserved for issuance in accordance with its respective terms, will
be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances with respect to the issue thereof
and shall not be subject to preemptive rights or other similar rights of shareholders of the Company and will not impose personal liability
upon the Buyer thereof.

 

e.
No Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby will not (i) conflict with or result in a violation of any provision of the Certificate
of Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or
an event which with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of its Subsidiaries
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities
laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities are subject) applicable
to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected
(except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually
or in the aggregate, have a Material Adverse Effect). The businesses of the Company and its Subsidiaries, if any, are not being conducted,
and shall not be conducted so long as the Buyer owns any of the Securities, in violation of any law, ordinance or regulation of any governmental
entity. “Material Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition
or prospects of the Company or its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements
or instruments to be entered into in connection herewith.

 

f.
SEC Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended (the “1934
Act”) (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial statements and schedules
thereto and documents (other than exhibits to such documents) incorporated by reference therein, being hereinafter referred to herein
as the “SEC Documents”). Upon written request the Company will deliver to the Buyer true and complete copies of the SEC Documents,
except for such exhibits and incorporated documents. As of their respective dates or if amended, as of the dates of the amendments, the
SEC Documents complied in all material respects with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated
thereunder applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. None of the statements made in any such SEC Documents
is, or has been, required to be amended or updated under applicable law (except for such statements as have been amended or updated in
subsequent filings prior the date hereof). As of their respective dates or if amended, as of the dates of the amendments, the financial
statements of the Company included in the SEC Documents complied as to form in all material respects with applicable accounting requirements
and the published rules and regulations of the SEC with respect thereto. Such financial statements have been prepared in accordance with
United States generally accepted accounting principles, consistently applied, during the periods involved and fairly present in all material
respects the consolidated financial position of the Company and its consolidated Subsidiaries as of the dates thereof and the consolidated
results of their operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end
audit adjustments). The Company is subject to the reporting requirements of the 1934 Act.

 

    	4

     

    

 

g.
Absence of Certain Changes. Since September 30, 2021, except as set forth in the SEC Documents, there has been no material adverse
change and no material adverse development in the assets, liabilities, business, properties, operations, financial condition, results
of operations, prospects or 1934 Act reporting status of the Company or any of its Subsidiaries.

 

h.
Absence of Litigation. Except as set forth in the SEC Documents, there is no action, suit, claim, proceeding, inquiry or investigation
before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the Company
or any of its Subsidiaries, threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in
their capacity as such, that could have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

i.
No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would require
registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities to the Buyer will not
be integrated with any other issuance of the Company’s securities (past, current or future) for purposes of any shareholder approval
provisions applicable to the Company or its securities.

 

j.
No Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions, transaction
fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

k.
No Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement
will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

l.
Breach of Representations and Warranties by the Company. If the Company breaches any of the material representations or warranties
set forth in this Section 3 which is continuing after the applicable cure period as set forth in the Note, if any, and in addition to
any other remedies available to the Buyer pursuant to this Agreement, it will be considered an Event of default under Section 4.4 of
the Note.

 

    	5

     

    

 

4.
COVENANTS.

 

a.
Best Efforts. The Company shall use its reasonable commercial efforts to satisfy timely each of the conditions described in Section
7 of this Agreement.

 

b.
Use of Proceeds. The Company shall use the proceeds for general working capital purposes.

 

c.
Expenses. At the Closing, the Company’s obligation with respect to the transactions contemplated by this Agreement is to
reimburse Buyer’ expenses shall be $3,750.00 for Buyer’s legal fees and due diligence fee.

 

d.
Corporate Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall
not sell all or substantially all of the Company’s assets, except with the prior written consent of the Buyer.

 

e.
Breach of Covenants. If the Company breaches any of the material covenants set forth in this Section 4, and in addition to any
other remedies available to the Buyer pursuant to this Agreement which is continuing after the applicable cure period as set forth in
the Note, it will be considered an event of default under Section 4.4 of the Note.

 

f.
Failure to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the reporting
requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934 Act.

 

g.
The Buyer is Not a “Dealer”. The Buyer and the Company hereby acknowledge and agree that the Buyer has not: (i) acted
as an underwriter; (ii) acted as a market maker or specialist; (iii) acted as “de facto” market maker; or (iv) conducted
any other professional market activities such as providing investment advice, extending credit and lending securities in connection;
and thus that the Buyer is not a “Dealer” as such term is defined in the 1934 Act.

 

    	6

     

    

 

5.
Transfer Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent to issue certificates, registered
in the name of the Buyer or its nominee, for the shares underlying any conversion of the Note upon default of the Note (the “Conversion
Shares”) in such amounts as specified from time to time by the Buyer to the Company upon conversion of the Note in accordance with
the terms thereof (the “Irrevocable Transfer Agent Instructions”). In the event that the Company proposes to replace its
transfer agent, the Company shall provide, prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent
Instructions in a form as initially delivered pursuant to this Agreement (including but not limited to the provision to irrevocably reserve
shares of Common Stock in the Reserved Amount as such term is defined in the Note) signed by the successor transfer agent to Company
and the Company. Prior to registration of the Conversion Shares under the 1933 Act or the date on which the Conversion Shares may be
sold pursuant to an exemption from registration, all such certificates shall bear the restrictive legend specified in Section 2(e) of
this Agreement. The Company warrants that: (i) no instruction other than the Irrevocable Transfer Agent Instructions referred to in this
Section 5, will be given by the Company to its transfer agent and that the Securities shall otherwise be freely transferable on the books
and records of the Company as and to the extent provided in this Agreement and the Note; (ii) it will not direct its transfer agent not
to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing)(electronically or in certificated form) any
certificate for Conversion Shares to be issued to the Buyer upon conversion of or otherwise pursuant to the Note as and when required
by the Note and this Agreement; and (iii) it will not fail to remove (or directs its transfer agent not to remove or impairs, delays,
and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof)
on any certificate for any Conversion Shares issued to the Buyer upon conversion of or otherwise pursuant to the Note as and when required
by the Note and/or this Agreement. If the Buyer provides the Company and the Company’s transfer, at the cost of the Buyer, with
an opinion of counsel in form, substance and scope customary for opinions in comparable transactions, to the effect that a public sale
or transfer of such Securities may be made without registration under the 1933 Act, the Company shall permit the transfer, and, in the
case of the Conversion Shares, promptly instruct its transfer agent to issue one or more certificates, free from restrictive legend,
in such name and in such denominations as specified by the Buyer. The Company acknowledges that a breach by it of its obligations hereunder
will cause irreparable harm to the Buyer, by vitiating the intent and purpose of the transactions contemplated hereby. Accordingly, the
Company acknowledges that the remedy at law for a breach of its obligations under this Section 5 may be inadequate and agrees, in the
event of a breach or threatened breach by the Company of the provisions of this Section, that the Buyer shall be entitled, in addition
to all other available remedies, to an injunction restraining any breach and requiring immediate transfer, without the necessity of showing
economic loss and without any bond or other security being required.

 

6.
Conditions to the Company’s Obligation to Sell. The obligation of the Company hereunder to issue and sell the Securities
to the Buyer at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions thereto,
provided that these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion:

 

a.
The Buyer shall have executed this Agreement and delivered the same to the Company.

 

b.
The Buyer shall have delivered the Purchase Price in accordance with Section 1(b) above.

 

c.
The representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and as of
the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date), and the Buyer
shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this
Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

    	7

     

    

 

d.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

7.
Conditions to The Buyer’s Obligation to Purchase. The obligation of the Buyer hereunder to purchase the Securities at the
Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions
are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a.
The Company shall have executed this Agreement and delivered the same to the Buyer.

 

b.
The Company shall have delivered to the Buyer the duly executed Note, in accordance with Section 1(b) above.

 

c.
The Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall have been delivered to and acknowledged
in writing by the Company’s Transfer Agent.

 

d.
The representations and warranties of the Company shall be true and correct in all material respects as of the date when made and as
of the Closing Date as though made at such time (except for representations and warranties that speak as of a specific date) and the
Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. The Buyer shall have received
a certificate or certificates, executed by the chief executive officer of the Company, dated as of the Closing Date, to the foregoing
effect and as to such other matters as may be reasonably requested by the Buyer including, but not limited to certificates with respect
to the Board of Directors’ resolutions relating to the transactions contemplated hereby.

 

e.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

f.
No event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but not limited
to a change in the 1934 Act reporting status of the Company or the failure of the Company to be timely in its 1934 Act reporting obligations.

 

    	8

     

    

 

8.
Governing Law; Miscellaneous.

 

a.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the Circuit Court of Fairfax County, Virginia or in the Alexandria Division of the United
States District Court for the Eastern District of Virginia. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction
and venue of any action instituted hereunder and shall not assert any objection or defense based on lack of jurisdiction or venue or
based upon forum non conveniens. The Company and Buyer waive trial by jury. The Buyer shall be entitled to recover from the Company
its reasonable attorney’s fees and costs incurred in connection with or related to any Event of Default by the Company, as defined
in Article III of the Note. Each party hereby irrevocably waives personal service of process and consents to process being served in
any suit, action or proceeding in connection with this Agreement, the Note or any related document or agreement by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices
to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

b.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of
which shall constitute one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party.

 

c.
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation
of, this Agreement.

 

d.
Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule
of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to
conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

e.
Entire Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties
with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor
the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may
be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

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f.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be
in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified,
return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most
recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a)
upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address
or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the
first business day following such delivery (if delivered other than on a business day during normal business hours where such notice
is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed
to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be
as set forth in the heading of this Agreement with a copy by fax only to (which copy shall not constitute notice) to Naidich Wurman LLP,
111 Great Neck Road, Suite 214, Great Neck, NY 11021, Attn: Allison Naidich, facsimile: 516-466-3555, e-mail: allison@nwlaw.com.
Each party shall provide notice to the other party of any change in address.

 

g.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and
assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that purchases Securities
in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined under the 1934 Act, without
the consent of the Company.

 

h.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall
survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees
to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result
of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants set forth in this
Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as they are incurred.

 

i.
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and
shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

j.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

k.
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by
vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law
for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by
the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies at law
or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss
and without any bond or other security being required.

 

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REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

    	10

     

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

	CLEARDAY,
    INC.	 
	 	 	 
	By:		 
	 	James
    T. Walesa	 
	 	Chief
    Executive Officer	 
	 	 	 
	SIXTH
    STREET LENDING LLC	 
	 	 	 
	By:		 
	 	Curt
                                            Kramer

                                                                             President
	 

 

	Aggregate Principal Amount of Note:	 	$	172,200.00	 
	Original Issue Discount	 	$	18,450.00	 
	Aggregate Purchase Price:	 	$	153,750.00Exhibit
10.3

 

PURCHASE
AND SALE AGREEMENT

 

THIS
PURCHASE AND SALE AGREEMENT (this “Agreement”) is made as of the _5th _ day of April, 2022, by and between
LEANDER ASSOCIATES, LTD., a Texas limited partnership (collectively, “Seller”), and LEANDER RIDGE,
LLC, a Texas limited liability company (“Buyer”).
 

ARTICLE
1 PURCHASE AND SALE

 

1.01 Agreement
of Purchase and Sale. Subject to the terms and conditions set forth in this Agreement, Seller agrees to sell and convey to
Buyer, and Buyer agrees to purchase from Seller, approximately 4.7 acres of land located at the northwest corner of S. Bagdad Rd.
and Vista Ridge in Leander, Williamson County, Texas (the “Land”), which Land is more particularly
depicted on Exhibit A attached hereto, together with Seller’s rights, title and interest, if any, in and to all
and singular the rights, privileges, hereditaments and appurtenances pertaining to such real property, which shall include the
following: (a) all adjacent streets, roads, alleys, easements and rights-of-way, public or private, open or proposed, in, across,
abutting or adjacent to or used in connection with the Land; (b) strips and gores, if any, between the Land and any abutting
properties, whether owned or claimed by deed, limitations or otherwise; (c) all entitlements and development rights relating,
belonging or appurtenant to or associated with, the Land, including all right, title, and interest of Seller in and to any and all:
(i) utilities, utility capacity, sewage treatment capacity, water rights, water and well permits, water capacity, drainage, and
detention rights (including any form of reservation which may be granted by any governmental subdivision), if any to serve or which
will serve the Land and improvements now or hereafter constructed thereon; (ii) assignable existing licenses, permits, governmental
approvals and authorizations issued by any governmental authority in connection with the Land; (iii) rights under zoning cases,
preliminary plans, plats, and other development applications and approvals; and (iv) all other development rights, powers,
privileges, options, or other benefits associated with, that pertain to, are attributable to, are appurtenant to, apply to, or which
otherwise benefit the Land.

 

The
Land and all the above-described property rights and interests are collectively referred to herein as the “Property”.

 

1.02
Purchase Price. The purchase price for the Property is $392,040 per acre ($9.00/sf) of developable land, for an approximate total
amount of One Million Eight Hundred Forty-Two Thousand Five Hundred Eighty-Eight and 00/100 Dollars ($1,842,588.00) (the “Purchase
Price”).

 

    	1

     

    

 

1.03 Deposit.
Within three (3) business days after the Effective Date (as defined in the Receipt attached hereto to be executed by the Escrow
Agent), Buyer shall deposit the sum of Twenty Thousand and No/100 Dollars ($20,000.00) (the “Initial
Deposit”) in immediately available funds, by federal wire transfer to Presidio Title, LLC, Attn: Danita Sherrill (the
“Escrow Agent” or “Title Company”), having its office at 7373 Broadway, #105,
San Antonio, Texas 78209, tel: (210)-757-9600; email: dsherrill@presidiotitle.com, to be held by the Escrow Agent as earnest money
in accordance with the terms and provisions of this Agreement. If Buyer does not elect to terminate this Agreement prior to the
expiration of the Feasibility Period or the Permitting Period in accordance with Section 3.02 and Section 3.06 below,
then Buyer shall deliver to the Title Company as an additional earnest money deposit an amount equal to Twenty Thousand and No/100
Dollars ($20,000.00) (the “Additional Deposit”) within three (3) business days following the expiration of
the Permitting Period. As used in this Agreement, “Deposit” means the Initial Deposit and the Additional
Deposit. The Escrow Agent shall hold the Deposit in an interest bearing account reasonably acceptable to Seller and Buyer, in
accordance with the terms and conditions of this Agreement. All interest accruing on the Deposit while being held by the Escrow
Agent shall be deemed a part thereof and shall be delivered to the party entitled to receive the Deposit. The failure of Buyer to
timely deliver the Initial Deposit or Additional Deposit shall immediately be deemed a material default, and shall entitle Seller,
at Seller’s sole option, to terminate this Agreement by providing written notice to Buyer, and any all Deposits that have been
received by the Title Company shall be released to Seller. The Deposit shall be applied as a credit to the Purchase Price at the
Closing and is refundable to Buyer as set forth below; provided, that as set forth in Section 3.06, the Deposit will become
non-refundable if this Agreement is not terminated prior to the end of the Permitting Period or any Permitting Extension Period and
shall be immediately released to Seller.

 

1.04
Independent Consideration. Contemporaneously with the payment of the Deposit to the Title Company, Buyer shall make a payment
to Title Company in an amount equal to Five Thousand and No/100 Dollars ($5,000.00) (the “Independent Consideration”)
for Seller’s account, which Title Company shall deliver to Seller upon receipt. The Independent Consideration is additional and
separate consideration for Seller’s execution of this Agreement and Buyer’s right to terminate this Agreement during the
Feasibility Period and the Permitting Period as provided herein. The Independent Consideration is non-refundable but will be applicable
to the Purchase Price if Closing occurs.

 

1.05
Escrow Agent. Escrow Agent shall hold and dispose of the Deposit in accordance with the terms of this Agreement. Seller and Buyer
agree that the duties of the Escrow Agent hereunder are purely ministerial in nature and shall be expressly limited to the safekeeping
and disposition of the Deposit in accordance with this Agreement. Escrow Agent shall incur no liability in connection with the safekeeping
or disposition of the Deposit for any reason other than Escrow Agent’s willful misconduct or gross negligence. In the event that
Escrow Agent shall be in doubt as to its duties or obligations with regard to the Deposit, or in the event that Escrow Agent receives
conflicting instructions from Buyer and Seller with respect to the Deposit, Escrow Agent shall not be required to disburse the Deposit
and may, at its option, continue to hold the Deposit until both Buyer and Seller agree as to its disposition, or until a final judgment
is entered by a court of competent jurisdiction directing its disposition, or Escrow Agent may interplead the Deposit in accordance with
the laws of the state in which the Property is located. Escrow Agent shall not be responsible for any interest on the Deposit except
as is actually earned, or for the loss of any interest resulting from the withdrawal of the Deposit prior to the date interest is posted
thereon.

 

Escrow
Agent shall execute this Agreement and the Escrow Agreement, if any, solely for the purpose of being bound by the provisions of Sections
1.04 and 1.05 hereof.

 

    	2

     

    

 

1.06
Participation Option. At any time prior to the receipt of the Approvals (as defined below) by Buyer, Seller shall have the option
(the “Participation Option”) to elect to contribute a portion of the Property in the minimum value of $600,000
(the “Contributed Property”) to Buyer. Should Seller elect to exercise the Participation Option, Seller will
deliver notice of such election in writing to Buyer, which notice will also indicate the value that Seller desires to contribute. In
exchange for the Contributed Property, Seller and Buyer will enter into an agreement in a form and substance acceptable to both parties
whereby Seller shall receive an amount equal to the Contributed Property multiplied by 115% (the “Contribution Value”).
At Closing, Buyer and Seller will enter into an agreement mutually acceptable to Buyer and Seller (the “Participation Agreement”),
which Participation Agreement will provide that all distributions of cash flow from the development on the Property will first be paid
to Seller pari passu with all other distributions of return of capital paid to the members of Buyer until such time that Seller has received
an amount equal to the Contribution Value prior to any distributions of profits to any other owners. Following the distribution of the
Contribution Value to Seller, Seller will not be entitled to any further distributions. As used herein, the term cash flow shall mean
the gross cash receipts from the ownership, operation, financing, development, sale of all (or a portion of) the Property less all expenses
with respect to the Buyer’s development costs, transaction costs incurred (other than any expenses paid to affiliates or related
parties or foreign persons, as defined in Section 4.02(c)), any financing or sale of its assets and properties and customary expenses
of the development and any income derived from leasing the Property. Buyer and Seller shall agree on the form of the Participation Agreement,
which agreement shall not be unreasonably withheld, delayed, or conditioned, on or prior to the later of (a) the expiration of the Permitting
Period, or (b) twenty (20) days after Seller notifies Buyer that it elects to exercise the Participation Option.

 

ARTICLE
2

TITLE AND SURVEY

 

2.01
Title Commitment. Within fourteen (14) days of the Effective Date, Seller will provide or cause to be provided to Buyer, a commitment
for title insurance on the Property (the “Title Commitment”) from the Title Company, dated no earlier than
the Effective Date, setting forth the status of the title of the Property, (b) tax lien and judgment searches of Seller, and (c) legible
copies of all documents referenced in the Title Commitment as exceptions or as otherwise noted in the Title Commitment (the “Title
Documents”).

 

2.02
Survey. As soon as reasonably practicable after the Effective Date but prior to the expiration of the Feasibility Period as defined
in Section 3.02, Buyer shall use commercially reasonable efforts to obtain a survey of the Property (the “Survey”)
issued by a surveyor licensed as a professional surveyor in the State of Texas. Buyer agrees to deliver a copy of such Survey upon receipt
to Seller and Title Company. At Closing, Seller agrees to reimburse Buyer one-half of the cost of the Survey, up to $3,000 (the “Survey
Reimbursement”).

 

2.03
Title and Survey Review. Buyer shall have a period of ten (10) days after receipt of the Title Commitment, Title Documents and
the Survey (the “Title Review Period”), to notify Seller in writing of any objections (“Title Objections.”)
to any matters reflected in the Title Commitment and/or Survey (the “Objection Notice”). If Buyer fails to
deliver an Objection Notice prior to the end of the Title Review Period, then Buyer will be deemed to have accepted all such exceptions
to title and all other matters shown on the Title Commitment and Survey and such exceptions and matters shall be included in the term
“Permitted Exceptions” (as defined herein). If Buyer delivers an Objection Notice to Seller, Seller may, within ten (10)
days after receipt of the Objection Notice, notify Buyer that (a) Seller will attempt to cure and remove Title Objections prior to the
Closing Date or (b) Seller elects not to cause such exceptions (including Survey matters objected to by Buyer) to be removed. If after
the expiration of such ten-day period, Seller has not responded to the Objection Notice, Seller will be deemed to have elected to proceed
in accordance with clause (b), i.e., to take no action with respect to Buyer’s Title Objections. Seller shall have no obligation
to remove, satisfy or cure any Title Objections, except for liens voluntarily created by Seller that secure monetary obligations of Seller,
judgment liens and delinquent real property taxes and assessments (the “Monetary Liens”), which Seller agrees
to remove on or before Closing. For this purpose, Seller shall be entitled to a reasonable extension of the Closing Date if additional
time is required, but in no event shall the extension extend for more than thirty (30) days. If Seller elects (or is deemed to have elected)
not to cure such Title Objections, Buyer shall have ten (10) business days after the expiration of Seller’s ten-day response period,
but in no event later than the expiration of the Feasibility Period, to either (i) terminate this Agreement by delivering written notice
to Seller and the Title Company, whereupon the Title Company shall deliver the Deposit and any other amounts refundable herein, together
with any interest thereon to Buyer less the Independent Consideration, and Seller’s obligation to sell and Buyer’s obligation
to purchase the Property shall terminate absolutely; or (ii) elect to purchase the Property subject to the Title Objections which Seller
has refused or failed to cure or remove, in which event such Title Objections shall be deemed “Permitted Exceptions” for
all purposes hereunder. In the event Buyer does not elect (i) or (ii) above within ten (10) business days after the expiration of Seller’s
ten-day response period, Buyer shall be deemed to have elected (ii) above.

 

    	3

     

    

 

2.04
Pre-Closing “Gap” Title Defects. Buyer may, at or prior to Closing, notify Seller in writing (the “Gap
Notice Letter”) of any objections to title (a) raised by the Escrow Agent/Title Company or subsequently identified between
the expiration of the Title Review Period and the Closing, other than a Permitted Exception, and (b) not disclosed by the Title Company
or otherwise known to Buyer prior to the expiration of the Title Review Period as set forth in Section 2.03 (“Gap
Title Defects”); provided that Buyer must notify Seller of such Gap Title Defects within five (5) business days of knowledge
of the existence of such exception. If Buyer sends a Gap Notice Letter to Seller, Buyer and Seller shall have the same rights and obligations
with respect to such notice as applies to Buyer’s Title Objections under Section 2.03 hereof. Notwithstanding anything contained
in this Agreement to the contrary, Buyer shall have no right to object to any matters affecting title which arise after the Effective
Date if such matters are expressly contemplated by this Agreement.

 

2.05
Permitted Exceptions. The term “Permitted Exceptions” as used herein includes: (a) any easement, right-of-way,
encroachment, conflict, discrepancy, overlapping of improvements, protrusion, lien, encumbrance, restriction, condition, covenant or
other matter with respect to the Property that is reflected or addressed on the Survey or the Title Commitment and either (i) to which
Buyer fails to timely object pursuant to Sections 2.03 or 2.04, or (ii) waived by Buyer; (b) the lien of all ad valorem real estate
taxes and assessments not yet due and payable as of Closing, subject to adjustment as herein provided; and (c) local, state and federal
laws, ordinances or governmental regulations, including but not limited to, building, zoning and land use laws, ordinances and regulations,
now or hereafter in effect relating to the Property.

 

2.06
Conveyance of Title. At Closing, Seller shall convey and transfer to Buyer fee simple title to the Property, by execution and
delivery of a special warranty deed (the “Deed”) in substantially the form attached hereto as Exhibit
B, utilizing the legal description from the Survey or if the Land is platted, utilizing the platted legal description of the
Land. Seller’s special warranty of title in the Deed shall be subject to the Permitted Exceptions. Evidence of delivery of such
title shall be the Title Company’s binding commitment to issue to Buyer an Owner’s Policy of Title Insurance (the “Title
Policy”) covering the Property, in the full amount of the Purchase Price or other amount agreed to by Buyer, subject only
to the Permitted Exceptions. Prior to the Closing, Seller will not further encumber the Property, other than as may be otherwise expressly
contemplated by this Agreement or upon obtaining the prior written consent of Buyer.

 

    	4

     

    

 

ARTICLE
3

REVIEW
AND PERMITTING OF PROPERTY

 

3.01
Items to Be Delivered by Seller. Seller has previously delivered to Buyer, for Buyer’s review the following items (collectively,
the “Property Information”) to the extent they are in Seller’s possession or reasonable control: (a)
copies of all permits, if any, regarding the Property; (b) copies of all written rental agreements, leases, contracts and any other agreements
with respect to the Property if any, that will not be terminated prior to Closing; (c) all environmental inspection reports or audits
and information regarding the existence of “Hazardous Materials” (hereinafter defined) or underground storage tanks on the
Property or the use or storage of Hazardous Materials on the Property, if any; (d) soil studies, engineering reports, plans, specifications,
permits, and other similar materials relating to the physical and environmental condition and the development of the Property; (e) any
other reports and audits with respect to the compliance of the Property with any state or local laws, if any. In the event this transaction
does not close, then Buyer shall return to Seller all documents and other items received from Seller and/or procured by Buyer during
its due diligence and/or inspections of the Property.

 

3.02
Right of Inspection. Beginning upon the Effective Date and ending at 5:00 p.m. (local time at the Property) on the date that is
ninety (90) days following the Effective Date (the “Feasibility Period”), Buyer shall have the right to perform
its physical inspection of the Property and shall have the right to enter upon the Property to perform such investigations, inspections,
audits, analyses, surveys, tests, examinations, studies, and appraisals of the Property, as Buyer reasonably deems necessary or desirable,
provided that any such inspections are at Buyer’s sole cost and expense, and are conducted to determine if the Property is suitable
for Buyer’s purposes. Buyer understands and agrees that any on-site inspections of the Property shall occur at reasonable times
agreed upon by Seller and Buyer after at least 24 hours’ prior written notice to Seller and shall be conducted so as not to interfere
unreasonably with the use of the Property by Seller. Seller reserves the right to have a representative present during any such inspections.
If Buyer desires to do any invasive testing at the Property, Buyer shall do so only after notifying Seller and obtaining Seller’s
prior written consent thereto, which consent shall not be unreasonably withheld or delayed, but which consent shall be in Seller’s
sole discretion, and which shall be at Buyer’s sole cost and expense. At Seller’s option, Buyer will furnish to Seller copies
of any reports received by Buyer relating to any inspections of the Property. Buyer, its engineers, architects, employees, contractors,
consultants, and agents shall maintain commercial liability insurance policies (in an amount not less than One Million Dollars ($1,000,000
or as approved by Seller or Seller’s representative)) insuring against claims arising as a result of the inspection of the Property.
Prior to commencing any inspections, Buyer shall deliver to Seller a certificate of insurance evidencing the existence of the aforesaid
policies and naming Seller as an additional insured.

 

3.03
Environmental Inspections. During the Feasibility Period, Buyer shall have the right to employ one or more environmental consultants
or other professional(s) to perform or complete a Phase I environmental inspection and assessment of the Property and Seller consents
to such environmental inspections. Should Buyer determine that a Phase II environmental inspection is desired or necessary, Buyer shall
deliver to Seller a copy of the Phase I report and the scope of the Phase II assessment desired prior to proceeding with the Phase II
assessment. Buyer shall obtain Seller’s prior written consent prior to conducting a Phase II assessment on the Property.

 

    	5

     

    

 

3.04
Right of Termination. If for any reason whatsoever Buyer determines that the Property or any aspect thereof is unsuitable for
Buyer’s acquisition, Buyer shall have the right to terminate this Agreement within the Feasibility Period by giving written notice
thereof to Seller and if Buyer gives such notice of termination, this Agreement shall terminate. If this Agreement is terminated pursuant
to the foregoing provisions of this Section 3.04 prior to the expiration of Feasibility Period, then neither party shall have
any further rights or obligations hereunder (except for those rights, obligations or liabilities which expressly survive the termination
of this Agreement), the Deposit shall be returned to Buyer and each party shall bear its own costs incurred hereunder. If Buyer fails
to give Seller a notice of termination prior to the expiration of the Feasibility Period, Buyer shall be deemed to have waived its right
to terminate this Agreement during the Feasibility Period and the Escrow Agent shall immediately release the Deposit to Seller.

 

3.05
Indemnification. Buyer shall pay for all work and inspections performed on or in connection with the Property by or on behalf
of Buyer and shall not permit the creation of any lien in favor of any contractor, materialman, mechanic, surveyor, architect or laborer
in connection therewith. BUYER SHALL BE RESPONSIBLE FOR AND SHALL AND HEREBY DOES INDEMNIFY AND HOLD HARMLESS SELLER FROM AND AGAINST
ANY CLAIM, COSTS, EXPENSE, LIABILITY, INJURY OR DAMAGE ARISING OUT OF OR IN ANY MANNER CONNECTED WITH SUCH DUE DILIGENCE ACTIVITIES BY
BUYER OR BUYER’S EMPLOYEES, AGENTS, REPRESENTATIVES, OR CONTRACTORS OR THEIR SUB-AGENTS OR SUB-CONTRACTORS ON THE PROPERTY, including,
without limitation, (i) any and all reasonable attorneys’ fees or court costs incurred by Seller in connection with any such claims
or activities and (ii) mechanic’s liens or claims that may be filed against the Property by contractors, subcontractors or materialmen
performing such work for Buyer. Buyer’s obligations under this Section 3.05 shall survive the Closing or the termination of this
Agreement.

 

3.06
Permitting Period. Provided Buyer deposits with Escrow Agent the sum of $10,000.00 (the “Initial Permitting Fee”)
on or before the expiration of the Feasibility Period, Buyer shall have a period of one hundred eighty (180) days following the expiration
of the Feasibility Period (the “Permitting Period”), as such period may be extended herein, to obtain the following
approvals from the appropriate governmental authorities: the re-zoning of the Property to mixed-use or multi-family zoning (the “Rezoning”);
the approval of the Buyer’s site plan (the “Site Plan”); the civil permit for the horizontal development
of the Property in accordance with the Site Plan (the “Civil Permit”, and together with the Rezoning and Site
Plan are collectively referred to herein as the “Approvals”). Buyer’s efforts to obtain the Approvals
shall always comply with the following requirements:

 

(a)
The Civil Permit shall be deemed obtained by Buyer upon such permits being made available to the Buyer by the applicable governmental
authority, notwithstanding the issuance of such permit.

 

(b)
At Buyer’s request, Seller shall reasonably cooperate with Buyer to obtain the Approvals, but without having to incur any out-of-pocket
costs and expenses. As a part of the process of seeking the Approvals, Buyer may enter into agreements restricting the use of, or granting
easements over, the Property, provided such agreements, easements or other instruments are conditioned upon Buyer closing and obtaining
title to the Property, and that such agreements, easements or other instruments shall not be recorded against the Property until after
the Closing.

 

    	6

     

    

 

(c)
Buyer will engage design professionals and appropriate consultants to prepare the Site Plan and other documents and applications necessary
to obtain the Approvals and thereafter Buyer will use all commercially reasonable efforts to file its application for approval of the
Site Plan and all other Approvals with the appropriate city and county governmental agencies and any neighborhood associations, if required,
as soon as possible and thereafter diligently prosecute such Approvals to completion using all commercially reasonable efforts within
the time periods set forth in this Section 3.06.

 

(d)
During the Permitting Period and any Permitting Extension Period, Buyer will keep Seller informed of all matters related to the Approvals
and provide Seller a monthly update of the Approvals process and submissions. Prior to submitting the Site Plan, any applications, documents,
building plans or other plans to the appropriate governmental authorities, Buyer will submit such items for Seller’s review and
approval, which approval will not unreasonably be withheld or delayed. Seller agrees to review the items submitted in a timely and commercially
reasonable time period, but not exceeding ten (10) business days. Should Seller fail to respond in the foregoing time period and such
failure results in the Buyer not being able to submit the items to the appropriate governmental agencies on the next scheduled submittal
deadline (e.g., a submittal deadline for a planning commission hearing is missed due to a delay by Seller), such that Buyer must wait
for the next governmental agency submittal period, then Seller agrees to extend the Permitting Period or Permitting Extension Period,
as the case may be, for thirty (30) days or longer if necessary to allow Seller time to review and Seller and Buyer to agree on the submission
of the items to the agencies.

 

(e)
Subject to any timelines and review periods contained in this Agreement that relate to a specific Approval, Buyer agrees to submit the
preliminary Site Plan for initial staff review with the City of Leander within sixty (60) days of the Effective Date, and thereafter
diligently pursue obtaining the Approvals following the submission of the various Approval applications. If Buyer fails to timely submit
the preliminary Site Plan to the City of Leander in the foregoing sixty (60) days period, Seller shall have the option to (a) terminate
this Agreement and receive the Deposit, (b) extend the time to submit the Approvals. Buyer shall provide Seller or Seller’s representatives
with a copy of all submitted Approvals, in a timely manner but no more than five (5) business days after such Approvals are submitted
to the respective reviewing authority.

 

Provided
Buyer is in compliance with the provisions of this Section 3.06, and despite Buyer’s diligent efforts to obtain such Approvals,
Buyer is unable to obtain such Approvals prior to expiration of the Permitting Period, Buyer shall be entitled to extend the Permitting
Period for three (3) periods of ninety (90) days each (each, an “Permitting Extension Period”) by delivering
written notice to Seller of such extension (a “Permitting Extension Notice”) prior to expiration of either
the original Permitting Period or the then-expiring Permitting Extension Period as the case may be. Upon delivery of a Permitting Extension
Notice to Seller of Buyer’s exercise of a Permitting Extension Period, Buyer shall deposit with Escrow Agent the sum of $10,000.00
as an extension fee for each Permitting Extension Period exercised (the “Permitting Extension Fee”). The Initial
Permitting Fee and all Permitting Extension Fees shall be nonrefundable but applicable to the Purchase Price at Closing and Title Company
is hereby instructed, upon receipt of such fees, to release the funds to Seller immediately upon receipt. If at the end of the Permitting
Period, as the same may be extended herein, Buyer is unable to obtain the Approvals, Buyer shall have the right to terminate this Agreement
by written notice to Seller and Escrow Agent prior to expiration of the Permitting Period or of the then expiring Permitting Extension
Period, as the case may be, whereupon the Deposit shall be returned to Buyer. If Buyer fails to give Seller a notice of termination prior
to the expiration of the Permitting Period or the then expiring Permitting Extension Period, Buyer shall have no further right to terminate
the Agreement pursuant to this Section 3.06 and will be deemed to have elected to proceed with the Closing, shall pay the Additional
Deposit, and the Deposit shall become non-refundable to Buyer, except as elsewhere provided herein. The Permitting Period or Permitting
Extension Period will immediately terminate at such time that Buyer obtains the Approvals, and Buyer shall pay the Additional Deposit.

 

    	7

     

    

 

ARTICLE
4

CLOSING

 

4.01
Time and Place. The consummation of the transaction contemplated hereby (the “Closing”) shall be held
at the offices of Title Company on or before the day that is sixty (60) days following the termination of the Permitting Period or Permitting
Extension Period or as otherwise agreed to in writing by Seller and Buyer (the “Closing Date”).

 

4.02
Seller’s Obligations at Closing. At Closing, Seller shall:

 

(a)
deliver to Buyer a duly executed and acknowledged Deed conveying the Property, subject only to the Permitted Exceptions, utilizing the
legal description derived from the new Survey.

 

(b)
deliver to Escrow Agent such evidence as the Escrow Agent may reasonably require as to the authority of the person or persons executing
documents on behalf of Seller;

 

(c)
deliver to Buyer a certificate in the form required by Title Company duly executed by Seller stating that Seller is not a “foreign
person” as defined in the Foreign Investment in Real Property Tax Act of 1980;

 

(d)
deliver such affidavits as may be customarily and reasonably required by the Escrow Agent, in a form reasonably acceptable to Seller,
including an affidavit sufficient to delete the standard printed exceptions as to “rights of parties in possession” and “rights
of tenants in possession “from the Title Policy;

 

(e)
deliver to Buyer possession of the Property, subject to the Permitted Exceptions;

 

(f)
execute a closing statement reasonably acceptable to Seller;

 

(g)
if Seller has exercised the Participation Option, execute the Participation Agreement in the form mutually agreed upon by Seller and
Buyer in accordance with Section 1.06; and

 

(h)
deliver such additional documents as shall be reasonably required to consummate the transaction contemplated by this Agreement,

 

All
of the foregoing must be in form and content acceptable to Seller, which acceptance shall not be unreasonably withheld, delayed, or conditioned.

 

    	8

     

    

 

4.03
Buyer’s Obligations at Closing. At Closing, Buyer shall:

 

(a)
pay to Seller the full amount of the Purchase Price, less the Deposit and such other fees and other funds paid that are applicable to
the Purchase Price (e.g., Permitting and Permitting Extension Fees), as the Purchase Price may be increased or decreased by prorations
and price adjustments as herein provided, in immediately available funds;

 

(b)
deliver to Escrow Agent such evidence as the Escrow Agent may reasonably require as to the authority of the person or persons executing
documents on behalf of Buyer;

 

(c)
deliver such affidavits as may be customarily and reasonably required by the Escrow Agent, in a form reasonably acceptable to Buyer;

 

(d)
execute a closing statement reasonably acceptable to Buyer;

 

(e)
if Seller has exercised the Participation Option, execute the Participation Agreement in the form mutually agreed upon by Seller and
Buyer in accordance with Section 1.06; and

 

(f)
deliver such additional documents as shall be reasonably required to consummate the transaction contemplated by this Agreement.

 

All
of the foregoing must be in form and content satisfactory to Buyer.

 

4.04
Credits and Prorations.

 

(a)
All normal and customary expenses of the Property shall be apportioned as of 12:01 a.m., on the day of Closing, as if Buyer were vested
with title to the Property during the entire day upon which Closing occurs.

 

(b)
Notwithstanding anything contained in Section 4.04(a) hereof, any taxes paid at or prior to Closing shall be prorated based upon
the amounts accruing during such calendar year. If taxes and assessments due and payable during the year of Closing have not been paid
before Closing, Seller shall be charged at Closing an amount equal to that portion of such taxes and assessments which relates to the
period before Closing and Buyer shall pay the taxes and assessments prior to their becoming delinquent. Any such apportionment made with
respect to a tax year for which the tax rate or assessed valuation, or both, have not yet been fixed shall be based upon the tax rate
and/or assessed valuation last fixed. To the extent that the actual taxes and assessments for the current year differ from the amount
apportioned at Closing, the parties shall make all necessary adjustments by appropriate payments between themselves within sixty (60)
days after such amounts are determined following Closing, subject to the provisions of Section 4.04(c) hereof. Notwithstanding
anything to the contrary contained herein, if all or part of the Property has been assessed for tax purposes at a value that will cause
“roll-back” taxes to be due upon the change in land usage or ownership of all or part of the Property (“Rollback
Taxes”), the Rollback Taxes will be paid at Closing and Buyer will be responsible for 100% of the Rollback Taxes. The provisions
of this Section 4.04(b) shall survive Closing; € Except as otherwise provided herein, any expense amount which cannot be
ascertained with certainty as of Closing shall be prorated on the basis of the parties’ reasonable estimates of such amount and
shall be the subject of a final proration ninety (90) days after Closing, or as soon thereafter as the precise amounts can be ascertained.
Buyer shall promptly notify Seller when it becomes aware that any such estimated amount has been ascertained. Once all expense amounts
have been ascertained, Buyer shall prepare, and certify as correct, a final proration statement which shall be subject to Seller’s
approval. Upon Seller’s acceptance and approval of any final proration statement submitted by Buyer, such statement shall be conclusively
deemed to be accurate and final.

 

(d)
Subject to the first sentence of Section 4.04(c) hereof, the provisions of this Section 4.04 shall survive Closing.

 

    	9

     

    

 

4.05
Transaction Taxes and Closing Costs.

 

(a)
Seller shall pay at Closing the following costs and expenses:

 

(i)
the fees of any counsel representing Seller in connection with this transaction; and

 

(ii)
the costs for removing any Buyer’s Title Objections if Seller so elects to remedy any Buyer’s Title Objections, but Seller
shall not be obligated to do so; and

 

(iii)
the fee for the title examination and the Title Commitment and the base premium for the Title Policy; and

 

(iv)
the Survey Reimbursement.

 

(b)
Buyer shall pay the following costs and expenses:

 

(i)
the fees of any counsel representing Buyer in connection with this transaction;

 

(ii)
any endorsements to the Title Policy requested by Buyer, including, without limitation, deletion of the survey exception;

 

(iii)
any roll back taxes payable by Buyer pursuant to Section 4.04(b); and

 

(vi)
all other costs of the Title Company for Closing. All costs and expenses incident to this transaction and the Closing thereof, and not
specifically described above, shall be paid by the party incurring same; and

 

(d)
The provisions of this Section 4.05 shall survive the Closing.

 

    	10

     

    

 

4.06
Conditions Precedent to Obligation of Buyer. The obligation of Buyer to consummate the transaction hereunder shall be subject
to the fulfillment on or before the date of Closing of all of the following conditions, any or all of which may be waived by Buyer in
its sole discretion:

 

(a)
Seller shall have delivered to Buyer all of the items required to be delivered to Buyer, as provided for in Section 4.02 hereof;

 

(b)
All of the representations and warranties of Seller contained in this Agreement shall be true and correct in all material respects as
of the date of Closing (with appropriate modifications permitted under this Agreement).

 

In
the event that any one of the foregoing conditions is outstanding or unsatisfied as of the Closing other than due to a default by Buyer
under this Agreement, then Buyer shall have as its sole remedies the right to either (i) terminate this Agreement, whereupon the Deposit
shall be promptly returned to Buyer less the Independent Consideration and neither party shall have any further rights or obligations
hereunder (except for those obligations which expressly survive the termination of this Agreement), or (ii) waive any of such requirements
and complete the purchase as herein provided.

 

4.07
Conditions Precedent to Obligation of Seller. The obligation of Seller to consummate the transaction hereunder shall be subject
to the fulfillment on or before the date of Closing of all of the following conditions, any or all of which may be waived by Seller in
its sole discretion:

 

(a)
Seller shall have received the Purchase Price as adjusted as provided herein, pursuant to and payable in the manner provided for in this
Agreement;

 

(b)
Buyer shall have delivered to Seller all of the items required to be delivered to Seller, as provided for in Section 4.03 hereof.

 

(c)
All of the representations and warranties of Buyer contained in this Agreement shall be true and correct in all material respects as
of the date of Closing (with appropriate modifications permitted under this Agreement).

 

In
the event that any one of the foregoing conditions is outstanding or unsatisfied as of the Closing other than due to a default by Seller
under this Agreement, then Seller shall have as its sole remedies the right to either (i) terminate this Agreement, whereupon the Deposit
shall be promptly released by Escrow Agent to Seller less the Independent Consideration and neither party shall have any further rights
or obligations hereunder (except for those obligations which expressly survive the termination of this Agreement), or (ii) waive any
of such requirements and complete the purchase as herein provided.

 

4.08
Waiver of Condition Precedent. Either party may at any time or times, at its election, waive any of the conditions to its obligations
hereunder, but any such waiver shall be effective only if contained in writing signed by such party. No such waiver shall reduce the
rights or remedies of a party by reason of any breach by the other party (but if a condition is waived, the party waiving the same may
not terminate this Agreement or seek other remedies on the basis of the failure of such waived condition). In the event that for any
reason any item required to be delivered to a party by the other party hereunder shall not be delivered when required, then such other
party shall nevertheless remain obligated to deliver the same to the first party, and nothing (including, but not limited to, the closing
of the transaction hereunder) shall be deemed a waiver by the first party of such requirement.

 

    	11

     

    

 

ARTICLE
5

REPRESENTATIONS, WARRANTIES AND COVENANTS

 

5.01
Representations and Warranties of Seller. Seller hereby makes the following representations and warranties to Buyer as of the
Effective Date, which representations and warranties shall be deemed to have been made again as of the Closing:

 

(a)
Pending Actions. To Seller’s knowledge, Seller has not received written notice of any action, suit, arbitration, unsatisfied
order or judgment, government investigation or proceeding pending against Seller with respect to the Property which, if adversely determined,
could individually or in the aggregate materially interfere with the consummation of the transaction contemplated by this Agreement.

 

(c)
Condemnation. Except as otherwise disclosed to Buyer, to Seller’s knowledge, Seller has not received written notice of any
condemnation proceedings relating to the Property.

 

(d)
Litigation. There is no litigation which has been filed against Seller that arises out of the ownership of the Property that,
if adversely determined, would materially affect the Property or use thereof, or Seller’s ability to perform hereunder.

 

(e)
Violations. To Seller’s knowledge, Seller has not received written notice of any uncured violation of any federal, state
or local law relating to the use or operation of the Property which would materially adversely affect the Property or use thereof.

 

(f)
Agreements. To Seller’s knowledge, there are no agreements regarding the operation or management of the Property, except
as have been disclosed to Buyer during the Feasibility Period.

 

(g)
Lease Agreements. There are no lease agreements affecting the Property that will be in effect as of Closing.

 

(h)
Applicable Laws. To Seller’s knowledge, Seller has received no written notice from any governmental authority that the Property
is in violation of any of the applicable laws governing the Property

 

Seller’s
representations and warranties contained in this Section 5.01 and Section 5.02 below shall survive Closing for a period
of three (3) months.

 

5.02
Environmental Matters. Seller represents and warrants to the best of Seller’s knowledge, and excluding agricultural production,
as of the Effective Date (which representation and warranty shall be remade as of the Closing Date): that no notice, demand, claim or
other communication has been given or served on Seller from any entity, governmental body or individual claiming any violation of any
environmental law or demanding payment, contribution, indemnification, remedial action, removal action or any other action or inaction
with respect to any actual or alleged environmental damage or injury to persons, property or natural resources (any of the foregoing,
whether now existing or hereafter brought, is herein called a “Claim”), and no basis for any Claim exists;
or (b) that no investigation, administrative order, consent order, agreement, litigation or settlement is proposed or in existence, or
threatened, with respect to or arising from the presence of any Hazardous Material with respect to the Property.

 

    	12

     

    

 

As
used herein, the term “Hazardous Materials” shall mean any substance which is or contains: (i) any “hazardous
substance” as now or hereafter defined in the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as
amended (42 U.S.C. Section 9601 et seq.) or any regulations promulgated thereunder; (ii) any “hazardous waste” as now or
hereafter defined in the Resource Conservation and Recovery Act (42 U.S.C. Section 6901 et seq.) or regulations promulgated thereunder;
(iii) lead and any substance regulated by the Toxic Substances Control Act (15 U.S.C. Section 2601 et. seq.). The term “Environmental
Laws” shall mean all statutes specifically described in the foregoing sentence and all federal, state and local environmental,
health and safety statutes, ordinances, codes, rules, regulations and orders regulating, relating to or imposing liability or standards
concerning or in connection with Hazardous Materials.

 

5.03
Covenants of Seller. From and after the Effective Date and until Closing or any termination or cancellation of this Agreement,
Seller, without the prior written consent of Buyer (which consent shall not be unreasonably withheld, delayed, conditioned, or denied),
shall not (i) enter into a contract, option, right of first refusal or other agreement for the sale, transfer or conveyance, exchange,
encumbrance or other disposition of all or any portion of the Property; (ii) execute, grant, amend or modify a lien, pledge, encumbrance,
security interest, charge, license, lease, right of way, dedication or easement against or across the Property which will not be released
or removed prior to Closing; (iii) enter into any maintenance, management or service contracts for the Property which will remain in
force and effect after the Closing; (iv) terminate any liability or hazard insurance for the Property prior to Closing; (v) commit or
permit to be committed any waste to the Property; or (vi) enter into any agreement or perform any action which would cause a lien to
attach to all or any portion of the Property or which would cause any subsequent mechanics’ lien to relate back to such agreement
or action or (vii) fail to operate the Property in substantially the same manner that the Property is operated on the Effective Date.
Seller shall promptly furnish Buyer with any notice concerning the Property that Seller receives from any appraisal district, taxing
authority or other governmental entity. If at any time prior to Closing there are any parties in possession of any portion of the Property
as lessees or tenants or otherwise, Seller shall cause any lease or other agreement with such parties to be terminated prior to the Closing
Date and shall cause such parties to vacate the Property prior to the Closing Date. Seller’s termination of any lease or agreement
allowing for possession of any portion of the Property shall be at Seller’s sole expense and shall not impose any cost, obligation,
encumbrance, or liability upon the Property or upon Buyer. Further, Seller agrees to pay all liabilities arising under any lease or agreement
allowing for possession of any portion of the Property, whether arising by virtue of termination of same or otherwise, which obligation
shall survive the Closing.

 

5.05
Representations and Warranties of Buyer. Buyer hereby makes the following representations and warranties to Seller as of the Effective
Date, which representations and warranties shall be deemed to have been made again as of the Closing:

 

(a)
Authority. Buyer has the full right and authority to enter into this Agreement and to consummate or cause to be consummated the
transaction contemplated by this Agreement and such transactions does not violate or breach (assuming the passage of time, notice or
both) any agreement of Buyer or which affects the properties or assets of Buyer.

 

(b)
Pending Actions. Buyer has not received written notice of any action, suit, arbitration, unsatisfied order or judgment, government
investigation or proceeding pending against Buyer which, if adversely determined, could individually or in the aggregate materially interfere
with the consummation of the transaction contemplated by this Agreement.

 

    	13

     

    

 

ARTICLE
6

DEFAULT

 

6.01
Default by Buyer. In the event the sale of the Property as contemplated hereunder is not consummated due to Buyer’s default
hereunder, Seller shall be entitled, as its sole remedy, to terminate this Agreement and receive the Deposit, as liquidated damages for
the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach
are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof. Seller expressly waives its rights to seek
damages in the event of Buyer’s default hereunder. Notwithstanding the foregoing, nothing in this Section 6.01 shall limit
any recovery by Seller under any indemnities made by Buyer herein or Seller’s rights to any attorneys’ fees or costs recoverable
by Seller hereunder.

 

6.02 Default
by Seller. In the event the sale of the Property as contemplated hereunder is not consummated due to Seller’s default
hereunder, Buyer shall be entitled, as its sole remedy, either (a) to receive the return of the Deposit, all Permitting and
Permitting Extension Fees, and Feasibility and Feasibility Extension Fees, which return shall operate to terminate this Agreement
and release Seller from any and all liability hereunder, or (b) to enforce specific performance of Seller’s obligation to
convey the Property to Buyer in accordance with the terms of this Agreement, it being understood and agreed that the remedy of
specific performance shall not be available to enforce any other obligation of Seller hereunder. The remedy of specific performance
shall be commenced within sixty (60) days after such default, or Buyer shall no longer have the remedy of specific performance.
Except as expressly set forth in the preceding sentence, Buyer expressly waives its rights to seek damages in the event of
Seller’s default hereunder.

 

6.03
Waiver. In no event shall either party be liable for, and each party hereby waives any claim for, any punitive, indirect, special,
speculative or consequential damages, such as lost profits, as a result of the breach of a representation or warranty or any other default
hereunder.

 

ARTICLE
7

RISK OF LOSS

 

7.01
Condemnation. If during the pendency of this Agreement and prior to Closing, condemnation proceedings are commenced or threatened
with respect to any Material Condemnation (as hereinafter defined), Buyer may, at Buyer’s election, terminate this Agreement by
written notice to Seller within ten (10) days after Buyer has been notified in writing of the commencement or threat of such condemnation
proceedings. In the event of such termination, the Deposit shall be returned to Buyer and neither party shall have any further rights
or obligations hereunder except as specifically provided herein. If Buyer does not exercise such right to terminate within the period
prescribed, then Seller and Buyer, by their respective attorneys, will have the right to appear and to defend their respective interests
in the Property in such condemnation proceedings, and any award in condemnation will be assigned to Buyer at Closing or if received by
Seller prior to Closing, credited against the Purchase Price in the same amount. As used herein, the term “Material Condemnation”
shall mean (i) a condemnation of any portion of the Property having a fair market value of more than Five Hundred Thousand Dollars ($500,000),
or (ii) any other condemnation which would result in the remaining Property not conforming with any and all applicable private deed restrictions,
required zoning Approvals or which would otherwise materially impair Buyer’s intended use and development of the Property or result
in Buyer’s intended development of the Property not being economically feasible.

 

    	14

     

    

 

ARTICLE
8

BROKERS AND COMMISSIONS

 

8.01
Brokerage Commissions. The parties represent and warrant to each other that no broker or finder was instrumental in arranging or
bringing about this transaction other than MSL Investments, Attn: Sarah Teel, representing the Seller (“Seller’s Broker”),
and _N/A representing the Buyer (“Buyer’s Broker”), (collectively, the “Brokers”).
Each party hereto agrees that if any person or entity makes a claim for brokerage commissions or finder’s fees (except Brokers)
related to the sale of the Property by Seller to Buyer, and such claim is made by, through or on account of any acts or alleged acts
of said party or its representatives, said party will protect, indemnify, defend and hold the other party free and harmless from and
against any and all loss, liability, cost, damage and expense (including reasonable attorneys’ fees) in connection therewith. Seller
agrees to pay a commission (the “Commission”) at Closing pursuant to the terms of a separate written agreement
between Seller and Seller’s Broker. Buyer’s Broker will be paid 0% Commission at Closing by the Seller. The provisions of
this paragraph shall survive Closing or any termination of this Agreement.

 

Article
9

Disclaimers and Waivers

 

9.01
No Reliance on Documents. Except as expressly stated herein and in the documents to be executed by Seller at the Closing, Seller
makes no representation or warranty as to the truth, accuracy or completeness of any materials, data or information prepared by third
parties and delivered by Seller or its brokers or agents to Buyer in connection with the transaction contemplated hereby. Buyer acknowledges
and agrees that all materials, data and information delivered by Seller to Buyer in connection with the transaction contemplated hereby
are provided to Buyer as a convenience only and that any reliance on or use of such materials, data or information by Buyer shall be
at the sole risk of Buyer, except as otherwise expressly stated herein. Neither Seller, nor any affiliate of Seller, nor the person or
entity which prepared any report or reports delivered by Seller to Buyer shall have any liability to Buyer for any inaccuracy in or omission
from any such reports.

 

9.02
AS-IS SALE; DISCLAIMERS. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT AND IN THE DOCUMENTS TO BE EXECUTED BY SELLER AT THE
CLOSING, IT IS UNDERSTOOD AND AGREED THAT SELLER IS NOT MAKING AND HAS NOT AT ANY TIME MADE ANY WARRANTIES OR REPRESENTATIONS OF ANY
KIND OR CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OR REPRESENTATIONS
AS TO HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

 

    	15

     

    

 

PURCHASER
ACKNOWLEDGES AND AGREES THAT UPON CLOSING SELLER SHALL SELL AND CONVEY TO PURCHASER AND PURCHASER SHALL ACCEPT THE PROPERTY “AS
IS, WHERE IS, WITH ALL FAULTS”, EXCEPT TO THE EXTENT EXPRESSLY PROVIDED OTHERWISE IN THIS AGREEMENT AND IN THE DOCUMENTS TO
BE EXECUTED BY SELLER AT THE CLOSING. PURCHASER HAS NOT RELIED AND WILL NOT RELY ON, AND SELLER IS NOT LIABLE FOR OR BOUND BY, ANY EXPRESS
OR IMPLIED WARRANTIES, GUARANTIES, STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE PROPERTY OR RELATING THERETO (INCLUDING
SPECIFICALLY, WITHOUT LIMITATION, OFFERING PACKAGES DISTRIBUTED WITH RESPECT TO THE PROPERTY) MADE OR FURNISHED BY SELLER, THE MANAGERS
OF THE PROPERTY, OR ANY REAL ESTATE BROKER OR AGENT REPRESENTING OR PURPORTING TO REPRESENT SELLER, TO WHOMEVER MADE OR GIVEN, DIRECTLY
OR INDIRECTLY, ORALLY OR IN WRITING, UNLESS SPECIFICALLY SET FORTH IN THIS AGREEMENT OR IN THE DOCUMENTS TO BE EXECUTED BY SELLER AT
THE CLOSING. PURCHASER ALSO ACKNOWLEDGES THAT THE PURCHASE PRICE REFLECTS AND TAKES INTO ACCOUNT THAT THE PROPERTY IS BEING SOLD “AS-IS.”

 

9.03
Survival of Disclaimers. The provisions of this Article 9 shall survive Closing or any termination of this Agreement.

 

Article
10

Miscellaneous

 

10.01
Confidentiality. Seller and Buyer agree that neither shall, without the prior written consent of the other party, make any public
announcement about the purchase and sale transaction contemplated hereby or of any of the terms, conditions, or provisions hereof, including
without limitation, the Purchase Price, or the results of any inspection, test, survey, or study conducted by Buyer pursuant to this
Agreement, including in the event this Agreement is terminated by either party. Each party and its representatives shall hold in strictest
confidence all data and information obtained with respect to the other party, whether obtained before or after the execution and delivery
of this Agreement and shall not disclose the same to others, except as otherwise may be required by law; provided, however, that it is
understood and agreed that (a) Buyer may disclose such data and information regarding the Property to the employees, lenders, consultants,
accountants and attorneys of Buyer provided that such persons agree to treat such data and information confidentially. In addition, Buyer
shall be entitled to disclose to representatives of Bexar County, Texas, and such other governmental authorities such facts as may be
reasonably required in order to obtain confirmation from such governmental authorities of any licenses, rights, exemptions or agreements
as may be necessary or required. Seller will not advertise the price of the Property in the public domain, on any website(s), brochures
or any other document, internet platform or portal whatsoever. Each party agrees to indemnify and hold the other party harmless from
and against any actual loss, injury, damage, claim, lien, cost or expenses, including attorneys’ fees, arising from a breach of
the foregoing confidentiality agreement, provided that in no event shall either party be liable to the other for any special, indirect,
consequential or punitive damages. The provisions of this Section 10.01 shall survive any termination of this Agreement or Closing
of this transaction.

 

10.02
Exclusivity. In consideration for the considerable amount of time and expense that Buyer will devote to the evaluation of the
transaction described herein, Seller agrees that neither Seller nor anyone acting on its behalf will (i) advertise, promote and market
the property for sale nor (ii) enter into contracts, options or letters of intent or conclude in any way any offer from any person or
entity other than Buyer with respect to the Property unless and until this Agreement terminates; provided, however, that if Seller shall
receive an unsolicited offer for the purchase of the Property, Seller’s execution of any so-called “back-up” letter
of intent, contract or other agreement shall not be deemed a violation of the foregoing so long as such “back-up” agreement
is subject and subordinate to the rights of Buyer hereunder.

 

    	16

     

    

 

10.03
Public Disclosure. Prior to and after the Closing, any press release or similar release to the public of information with respect
to the sale contemplated herein or any matters set forth in this Agreement will be made only upon the mutual agreement of Buyer and Seller
and only in the form approved by Buyer and Seller. The provisions of this Section 10.03 shall survive the Closing or any termination
of this Agreement.

 

10.04
Assignment. Buyer shall not assign this Agreement without prior written consent from Seller except
to a Permitted Assignee. For purposes of this Section 10.04, the term “Permitted Assignee” shall
mean (i) an entity owned by, or affiliated with or that controls, is controlled by or under common control with Buyer (each, an “Affiliate”)
or by the principals of Buyer, (ii) any entity of which Buyer or an Affiliate of Buyer acts as the managing member or general partner
or (iii) any entity of which Buyer or an Affiliate of Buyer acts as a co-managing member or co-general partner and is materially involved
in the management of such entity. Notwithstanding an assignment to a Permitted Assignee, Buyer shall remain liable for all obligations
under this Agreement.

 

10.05
Notices. Any notice pursuant to this Agreement shall be given in writing by (a) personal delivery, (b) reputable overnight delivery
service with proof of delivery, (c) United States Mail, postage prepaid, registered or certified mail, return receipt requested, (d)
legible facsimile transmission or (e) e-mail, sent to the intended addressee at the address set forth below, or to such other address
or to the attention of such other person as the addressee shall have designated by written notice sent in accordance herewith, and shall
be deemed to have been given upon receipt or refusal to accept delivery, or, in the case of facsimile or e-mail transmission, as of the
date of the facsimile or e- mail transmission provided that an original of such facsimile is also promptly sent to the intended addressee
by means described in clauses (a), (b) or (c) above. Unless changed in accordance with the preceding sentence, the addresses for notices
given pursuant to this Agreement shall be as follows:

 

	If
    to Seller:	 	Leander
    Associates, Ltd. 

    c/o Clearday, Inc.
	 	 	8800
    Village Drive, Suite 106 

    San Antonio, Texas 78217 

    Attention: COO
	 	 	Telephone:
    (210) 451-0839 

    Email: BJ@myclearday.com
	 	 	 
	with
    a copy to:	 	Rosenthal
    Pauerstein Sandoloski Agather LLP
	 	 	Attn:
    Susan Rogers
	 	 	755
    E. Mulberry Ave., Ste. 200 

    San Antonio, Texas 78212 

    Telephone: (210) 244-8873 

    Email: srogers@rpsalaw.com
	 	 	 
	If
    to Buyer:	 	Leander
    Ridge, LLC 

    Attn: Nathan Ruggles
	 	 	1902
    Jentsch Court, Unit B, Austin, TX 78745 

    Telephone: (512) 565-3501
	 	 	Email:
    nathan@derive-dev.com
	 	 	 
	with
    a copy to:	 	Kendrick
    A. James, PC
	 	 	16420
    Park Ten Place, Suite 125
	 	 	Houston,
    Texas 77084
	 	 	Telephone:
    (281) 646-2905
	 	 	Cell:
    (713) 303-3242
	 	 	Email:
    kaj@kajlawfirm.com

 

    	17

     

    

 

10.06
Modifications. This Agreement cannot be changed orally, and no executory agreement shall be effective to waive, change, modify
or discharge it in whole or in part unless such executory agreement is in writing and is signed by the parties against whom enforcement
of any waiver, change, modification or discharge is sought.

 

10.07
Entire Agreement. This Agreement, including the exhibits and schedules hereto, contains the entire agreement between the parties
hereto pertaining to the subject matter hereof and fully supersedes all prior written or oral agreements and understandings between the
parties pertaining to such subject matter, other than any confidentiality agreement executed by Buyer in connection with the Property.

 

10.08
Further Assurances. Each party agrees that it will execute and deliver such other documents and take such other action, whether
prior or subsequent to Closing, as may be reasonably requested by the other party to consummate the transaction contemplated by this
Agreement. The provisions of this Section 10.08 shall survive Closing.

 

10.09
Counterparts. This Agreement may be executed in counterparts, all such executed counterparts shall constitute the same agreement,
and the signature of any party to any counterpart shall be deemed a signature to, and may be appended to, any other counterpart.

 

10.10
Electronic Signatures. In order to expedite the transaction contemplated herein, electronically transmitted signatures (whether
by facsimile or email) in place of original signatures on this Amendment is expressly allowed. The parties intend to be bound by the
signatures on the electronically transmitted document, are aware that the other parties will rely on the electronically transmitted signatures,
and hereby waive any defenses to the enforcement of the terms of this Agreement based on the form of signature.

 

10.11
Severability. If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable,
the remainder of this Agreement shall nonetheless remain in full force and effect; provided that the invalidity or unenforceability of
such provision does not materially adversely affect the benefits accruing to any party hereunder.

 

10.12
Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas.

 

10.13
No Third-Party Beneficiary. The provisions of this Agreement and of the documents to be executed and delivered at Closing are
and will be for the benefit of Seller and Buyer only and are not for the benefit of any third party, and accordingly, no third party
shall have the right to enforce the provisions of this Agreement or of the documents to be executed and delivered at Closing.

 

    	18

     

    

 

10.14
Captions. The Section headings appearing in this Agreement are for convenience of reference only and are not intended, to any
extent and for any purpose, to limit or define the text of any Section or any subsection hereof.

 

10.15
Construction. The parties acknowledge that the parties and their counsel have reviewed and revised this Agreement and that the
normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in
the interpretation of this Agreement or any exhibits or amendments hereto.

 

10.16
Attorneys’ Fees. Should either party employ attorneys to enforce any of the provisions hereof, the party losing in any final
judgment agrees to pay the prevailing party all reasonable costs, charges and expenses, including reasonable attorneys’ fees, expended
or incurred in connection therewith.

 

10.17
Recordation. This Agreement may not be recorded by any party hereto without the prior written consent of the other party hereto;
provided, however, this prohibition shall not apply to any recordings expressly contemplated by this Agreement. The provisions of this
Section 10.17 shall survive the Closing or any termination of this Agreement.

 

10.18
Calculation of Time Periods and Performance. Time is of the essence with respect to this Agreement. Unless otherwise specified,
in computing any period of time described herein, the day of the act or event after which the designated period of time begins to run
is not to be included and the last day of the period so computed is to be included, unless such last day is a Saturday, Sunday or legal
holiday for national banks in the location where the Property is located, in which event the period shall run until the end of the next
day which is neither a Saturday, Sunday or legal holiday. The last day of any period of time described herein and the time during any
day by which an event must occur shall be deemed to end at 5:00 p.m., according to the time at the location of the Property. As used
in this Agreement, the term “business day” means every day other than Saturday, Sunday and any other day which is a legal
holiday under the laws of the state of Texas or is a day on which banking institutions in such state are required or authorized to close

 

10.19
1031 Exchange. The parties acknowledge that either may sell or purchase the Property as part of an exchange being made pursuant
to Section 1031 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated with respect thereto (or such other
similar or replacement provisions). The parties agree to cooperate fully with one another in the completion of an exchange; provided,
however, that (a) the party not involved in the exchange does not incur any type of out-of-pocket expense or additional liability as
a result of such cooperation; and (b) the exchange shall not delay any of the time periods or other obligations of the parties under
this Agreement.

 

10.21
Effective Date. The “Effective Date” of this Agreement shall be the date that a fully executed copy
of this Agreement is receipted by the Escrow Agent as indicated by the execution of this Agreement by the Escrow Agent in the space provided
therefore below, and the Escrow Agent shall provide notice of such receipt to all parties listed in Section 10.05 hereinabove.

 

    	19

     

    

 

Article
11

Disclosures

 

11.01
District. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or
flood control facilities and services, Chapter 49 of the Texas Water Code requires Seller to deliver and Buyer to sign the statutory
notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this Agreement.

 

11.02
Title Examination or Policy. The Buyer should have the Property examined by an attorney of the Buyer’s
choosing or the Buyer should be furnished with or obtain a title policy.

 

11.03
Certificated Service Area of a Utility Service Provider. If the Property is situated in a certificated service area of a utility
service provider, Section 13.257 of the Texas Water Code requires Seller to deliver and the Buyer to sign the required statutory notice.

 

11.04
Pipelines. If a transportation pipeline, including a pipeline for the transportation of natural gas, natural gas liquids, synthetic
gas, liquified petroleum gas, petroleum or a petroleum product or hazardous substance, is located on or within the Property, Seller shall
give Buyer statutory notice regarding such pipeline(s) as required by Section 5.013 of the Texas Property Code.

 

11.05
Public Improvement District. If the Property is in a public improvement district, Section 5.014 of the Texas Property Code requires
Seller to deliver and the Buyer to sign the required statutory notice.

 

[Remainder
of Page Intentionally Left Blank – Signature Page Follows]

 

    	20

     

    

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement to be effective as of the Effective Date.

 

	 	

    SELLER:
	 	 	 
	 	LEANDER
    ASSOCIATES, LTD.,
	 	a
    Texas limited partnership
	 	 	 
	 	By:	Shadow
    Retail Partners, L.P.,
	 	 	a
    Delaware limited partnership,

    its
    General Partner

	 	 	 
	 	By:	
	 	 	Name,
    Title
	 	 	 
	 	BUYER:
	 	 	 
	 	LEANDER
    RIDGE, LLC
	 	a
    Texas limited liability company
	 	 	 
	 	By:	
	 	 	Nathan
    Ruggles, Manager

 

RECEIPT

 

An
original, fully executed copy of this Agreement has been received by the Escrow Agent this ____day of __________________________, 2022 (the “Effective
Date”), and by execution hereof the Escrow Agent hereby covenants and agrees to be bound by the terms of this
Agreement.

 

	 	ESCROW
    AGENT:
	 	 	 
	 	PRESIDIO
    TITLE COMPANY
	 	 	 
	 	By:	        
	 	Name:	 
	 	Title:	 

 

    	21

     

    

 

EXHIBIT
A

DESCRIPTION
OF PROPERTY

 

 

    	Exhibit A - Page 1

     

    

 

EXHIBIT
B

FORM
OF SPECIAL WARRANTY DEED

 

NOTICE
OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY
INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER
OR YOUR DRIVER’S LICENSE NUMBER.

 

	THE
    STATE OF TEXAS	 	§
	 	 	§
	COUNTY
    OF WILLIAMSON	 	§

 

That
Leander Associates, Ltd., a Texas limited partnership (“Grantor”), for and in consideration of
the sum of Ten and No/100 Dollars ($10.00) cash and other good and valuable consideration in hand paid by ____________________a Texas limited liability company
(“Grantee”), whose address is 16420 Park Ten Place, Suite 125, Houston, Texas 77084, the receipt and sufficiency of
which is hereby acknowledged and confessed, has, subject to the exceptions hereinafter set forth, GRANTED, SOLD and CONVEYED, and by
these presents does GRANT, SELL and CONVEY unto Grantee, subject to the Permitted Exceptions, the real property, together with all improvements
situated thereon LIST MORE (hereinafter referred to as the “Property”) described on Exhibit A attached
hereto and made a part hereof together with all and singular the rights, privileges, hereditaments and appurtenances pertaining to such
real property, including, but not limited to the following: (a) all adjacent streets, roads, alleys, easements and rights-of-way, public
or private, open or proposed, in, across, abutting or adjacent to or used in connection with the Land; (b) strips and gores, if any,
between the Land and any abutting properties, whether owned or claimed by deed, limitations or otherwise; (c) all entitlements and development
rights relating, belonging or appurtenant to or associated with, the Land, including all right, title, and interest of Seller in and
to any and all: (i) utilities, utility capacity, sewage treatment capacity, water rights, water and well permits, water capacity, drainage,
and detention rights (including any form of reservation which may be granted by any governmental subdivision), if any to serve or which
will serve the Land and improvements now or hereafter constructed thereon; (ii) assignable existing licenses, permits, governmental approvals
and authorizations issued by any governmental authority in connection with the Land; (iii) rights under zoning cases, preliminary plans,
plats, and other development applications and approvals; and (iv) all other development rights, powers, privileges, options, or other
benefits associated with, that pertain to, are attributable to, are appurtenant to, apply to, or which otherwise benefit the land.

 

TO
HAVE AND TO HOLD the Property, subject to the Permitted Exceptions, together with the rights and appurtenances thereto belonging, unto
Grantee and Grantee’s successors and assigns, forever; and Grantor does hereby bind Grantor and Grantor’s successors and
assigns to warrant and forever defend the Property, subject to the Permitted Exceptions, unto Grantee and Grantee’s successors
and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, by, through or under Grantor,
but not otherwise.

 

    	Exhibit B - Page 1

     

    

 

This
conveyance is further made subject to the liens securing standby fees, taxes and assessments by any taxing authority for the year 2022
and subsequent years (collectively, the “Ad Valorem Taxes”), as well as to all those covenants, conditions, easements,
restrictions, encumbrances and exceptions set forth on Exhibit B attached hereto and made a part hereof (collectively,
the “Permitted Exceptions”). Grantee, by acceptance of delivery of this Deed, assumes and agrees to perform all of
Grantor’s obligations under the Permitted Exceptions and to pay the Ad Valorem Taxes.

 

EXCEPT
AS SPECIFICALLY PROVIDED IN THE PURCHASE AND SALE AGREEMENT, DATED _____________________, 2022 (THE “AGREEMENT”), BETWEEN GRANTOR
AND GRANTEE AND IN THE CLOSING DOCUMENTS EXECUTED BY GRANTOR THEREUNDER, THE PROPERTY IS CONVEYED “AS IS” AND “WITH
ALL FAULTS.” EXCEPT AS SPECIFICALLY PROVIDED IN THE AGREEMENT AND IN THE CLOSING DOCUMENTS EXECUTED BY GRANTOR THEREUNDER,
GRANTOR DISCLAIMS ALL REPRESENTATIONS, WARRANTIES, OR GUARANTIES OF ANY KIND, ORAL OR WRITTEN, EXPRESS OR IMPLIED, OR ARISING BY OPERATION
OF LAW (EXCEPT AS TO TITLE AS PROVIDED IN THIS DEED), WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF HABITABILITY,
MERCHANTABILITY, OR FITNESS FOR ANY PARTICULAR PURPOSE.

 

TO
HAVE AND TO HOLD the Property, subject to the Permitted Exceptions, together with all the rights and appurtenances thereto in anyway
belonging, to Grantee FOREVER; and Grantor binds itself to WARRANT and FOREVER DEFEND, title to the Property to Grantee against every
person whomsoever lawfully claiming or to claim the same or any part thereof, by, through, or under Grantor, but not otherwise, subject
to the matters set forth in this Deed.

 

Ad
Valorem Taxes for the current year shall be prorated and adjusted to the date of this Deed, and, by acceptance of this Deed, Grantee
hereby assumes payment of all such taxes and assessments.

 

IN
WITNESS WHEREOF, this Special Warranty Deed has been executed by Grantor on this _____ day of _______, 202_

 

GRANTOR:

 

	THE
    STATE OF TEXAS	 	§
	 	 	§
	COUNTY
    OF _______________	 	§

 

This
instrument was acknowledged before me on the _____ day of _____________, 2022, by _____ ___________, ________________ of
________________________.

 

	 	 	 	 
	 	 	 	Notary
    Public in and for the State of South Carolina
	 	 	 	 
	 	 	 	 
	 	 	 	Printed
    Name
	 	 	 	 
	AFTER RECORDING RETURN TO:	 	 
	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 	 
	Attention:	 	 	 

 

    	Exhibit B - Page 2

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