Document:

Exhibit 4.2

 

Variable
Denomination Floating Rate Demand Note

 

(Face
of Note)

 

No.

 

iCap
Vault 1, LLC, a Delaware limited liability company, promises to pay ___________________ and _____________________, or registered
assigns, the Principal Amount of the Securities Outstanding from time to time, on demand, plus any accrued and unpaid interest
thereon.

 

Dated:

 

	 	iCap
    Vault 1, LLC
	 	 	 
	 	By:
    	iCap
    Vault Management, LLC
	 	Its:
    	Manager

 

	 	By:	
	 	Name:	Chris
    Christensen
	 	Title:	CEO

 

Authenticated:

 

	American
Stock Transfer & Trust Company, LLC, as Trustee

	 
	 	           	 
	By:		 
	Authorized Officer	 

 

(SEAL)

 

 

 

(Back
of Note)

 

ICAP
VAULT 1, LLC

 

Variable
Denomination Floating Rate Demand Note

 

Capitalized
terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 

1.
Interest. iCap Vault 1, LLC (the “Company”), a Delaware limited liability company, promises to pay interest
on the Principal Amount of this Security at a per annum rate determined by the Company from time to time in its sole discretion.
Interest will accrue based on a 365-day year, will compound daily, and will be credited on the Securities on the last business
day of each month. Interest so credited will be added to the Principal Amount of the Security until redeemed.

 

    	 

    	 

    

 

2.
Method of Payment. The Company will pay accrued and unpaid interest on the Securities only on redemption of the Principal
Amount of the Security in whole or in part. Payment on all sums due on the Securities shall be deemed satisfied by payments remitted
or offset by the Company to the beneficial owners of the Securities.

 

3.
Paying Agent. Initially, there will be no Paying Agent since the Company will be performing the functions of a Paying Agent.
The Company may change the Paying Agent without notice.

 

4.
Indenture. The Company issued the Securities under an Indenture, dated as of ________, 2020, among the Company, as Issuer,
Vault Holding, LLC, as Subsidiary Guarantor, and American Stock Transfer & Trust Company, LLC, as Trustee (the “Indenture”).
The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S. Code 77aaa-77bbbb) as in effect on the date of the Indenture. The Securities are subject to all
such terms, and Security holders are referred to the Indenture and the Act for a statement of such terms. The Securities are secured
general obligations of the Company and are not limited in aggregate Principal Amount.

 

5.
Collateral. The Securities will be secured by a pledge of the membership interests of Vault Holding, LLC, a direct and
wholly-owned subsidiary of the Company, to a Collateral Agent for the benefit of Security holders. The security interest in the
collateral will be subordinated to the future security interest, if any, in favor of lenders of credit facilities.

 

6.
Guarantee. The payment of principal and interest on the Securities are fully and unconditionally guaranteed by Vault Holding,
LLC. The Indenture does not restrict the ability of the Company’s subsidiaries to incur indebtedness.

 

7.
Redemption at Option of Company. The Company may redeem all or part of any Security at any time or some of the Securities,
in whole or in part, from time to time at their Principal Amounts, plus accrued interest to the redemption date.

 

8.
Redemption at Option of Security Holder. The Company will redeem Securities at the option of the Security holder in any
amount, at any time and from time to time on demand at a redemption price equal to the Principal Amount, plus accrued interest
to the redemption date.

 

9.
Notice of Redemption. The Company may redeem Securities at its option in any amount, at any time and from time to time
at a redemption price equal to the Principal Amount, or any part thereof, plus accrued interest to the redemption date. On and
after the redemption date interest ceases to accrue on Securities or portions of them called for redemption.

 

10.
Denominations, Transfer. The Securities are in registered form without coupons and may be issued in initial denominations
of $25 and any amounts after that. The Securities may not be transferred.

 

    	 

    	 

    

 

11.
Persons Deemed Owners. The registered holder of a Security may be treated as its owner for all purposes.

 

12.
Amendments and Waivers. Subject to certain exceptions, the Indenture or the Securities may be amended with the consent
of the holders of at least a majority in Principal Amount of the Securities, and any existing default may be waived with the consent
of the holders of a majority in principal amount of the Securities. Without the consent of any Security holder, the Company may
make changes to the Program (including, but not limited to, interest rate adjustments) and the pledge and security agreements
and other documents of the Offering, except that the Indenture or the Securities may only be amended to cure any ambiguity, defect
or inconsistency, to provide for assumption of Company obligations to Security holders or to make any change that does not adversely
affect the rights of any Security holder in any material respect.

 

13.
Defaults and Remedies. An Event of Default is: default for 30 days in payment of interest on the Securities or in payment
of Principal Amount on them; failure by the Company for 90 days after notice to it to comply with any of its other agreements
in the Indenture or the Securities; and certain events of bankruptcy or insolvency. If an Event of Default occurs and is continuing,
the Trustee or the holders of at least 50% in principal amount of the Securities may declare all the Securities to be due and
payable immediately. Security holders may not enforce the Indenture or the Securities except as provided in the Indenture. The
Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Securities. Subject to certain limitations,
holders of a majority in Principal Amount of the Securities may direct the Trustee in its exercise of any trust or power. The
Trustee may withhold from Security holders notice of any continuing default (except a default in payment of Principal Amount or
interest) if it determines that withholding notice is in their interests. The Company must furnish an annual compliance certificate
to the Trustee.

 

14.
Trustee Dealings with Company. The Trustee, in its individual or any other capacity, and its affiliates, may make loans
to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its
Affiliates, as if it were not Trustee, subject to the terms of the Indenture and the Act.

 

15.
No Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company shall not have any liability
for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason
of such obligations or their creation. Each Security holder by accepting a Security waives and releases all such liability. The
waiver and release are part of the consideration for the issue of the Securities.

 

16.
Authentication. This Security shall not be valid until authenticated by the manual signature of the Trustee.Exhibit
4.3

 

Form
of Subscription Agreement

 

SUBSCRIPTION
AGREEMENT

 

SUBSCRIPTION
AGREEMENT (the “Agreement”), dated as of __________ __, 20__, by and among iCap Vault 1, LLC, a limited
liability company, with principal executive offices located at 3535 Factoria Blvd. SE, Suite 500, Bellevue, Washington 98006 (the
“Company”), and the buyer identified on the signature page hereto (“Buyer”).

 

WHEREAS:

 

A.
The Company and the Buyer desire to enter into this transaction to purchase a Note (as defined below) in the iCap Vault Demand
Note Program (the “Program”) pursuant to the Registration Statement (as defined below) which has been declared
effective in accordance with the Securities Act of 1933, as amended (the “Securities Act”), by the United States
Securities and Exchange Commission (the “SEC”).

 

B.
The Company has authorized the issuance of Variable Denomination Floating Rate Demand Notes of the Company, in the form attached
hereto as Exhibit A, issued under an indenture (“Indenture”), dated as of ___________, 2020, among the Company,
as issuer, Vault Holding, LLC, as guarantor, and American Stock Transfer & Trust Company, LLC, as the indenture trustee, in
the form attached hereto as Exhibit B.

 

C.
The Buyer wishes to purchase, and the Company wishes to sell, the principal amount of the Variable Denomination Floating Rate
Demand Notes set forth below such Buyer’s name on the Buyer’s signature page (collectively, the “Notes”).

 

NOW,
THEREFORE, the Company and the Buyer hereby agree as follows:

 

1.
PURCHASE AND SALE OF NOTES.

 

(a)
Subscription for Note. The Buyer hereby subscribes for and agrees to purchase, subject to the terms and conditions of this
Agreement, the Note in the principal amount set forth upon the signature page hereof. This subscription and agreement represent
an irrevocable offer by the Buyer to subscribe for said Note, except as expressly provided herein. This Agreement, subject to
the terms hereof, shall become a contract for the sale of said Note upon the acceptance hereof by the Company.

 

(b)
Purchase Price. The purchase price for the Note to be purchased by Buyer (the “Purchase Price”) shall
be the amount set forth below the Buyer’s name on the Buyer’s signature page.

 

(c)
Right to Accept or Reject. The Company reserves the unrestricted right to accept or reject this or any other subscription,
in whole or in part, to borrow less than the principal amount of the Note subscribed for herein, and to withdraw its offer at
any time.

 

(d)
Form of Payment. The Buyer shall pay its Purchase Price to the Company, in the manner set forth in Exhibit C attached
hereto

 

(e)
Manner of Settlement. The Note will be issued in book entry form, which means that no physical note will be created. Evidence
of the Buyer’s ownership of the Note is provided by written confirmation. The Buyer will not receive or be entitled to receive
any physical delivery of a certificated security or negotiable instrument that evidences the Note. The issuance and transfer of
the Note will be accomplished exclusively through the crediting and debiting of the appropriate accounts in the Company or its
designee’s book-entry registration and transfer system

 

    	1

    	 

    

 

(f)
Effectiveness of Obligations. Notwithstanding anything herein to the contrary, no offer by the Buyer to purchase the Notes
will be accepted and no part of the Purchase Price will be delivered to the Company until such Buyer has been provided the Disclosure
Package (as defined below) and the Company has accepted such offer by countersigning a copy of this Agreement; any such offer
may be withdrawn or revoked without obligation or commitment of any kind, at any time prior to the Company (or any of its agents
on behalf of the Company) sending (orally, in writing or by electronic mail or other electronic means) notice of its acceptance
of such offer. An offer to buy or indication of interest will involve no obligation or commitment of any kind until such Buyer
has been provided the Disclosure Package and this Agreement is accepted and countersigned by or on behalf of the Company.

 

2.
BUYER’S REPRESENTATIONS AND WARRANTIES. The Buyer represents and warrants to the Company with respect to only itself
that:

 

(a)
Organization; Authority. If the Buyer is not a natural person, the Buyer is an entity duly organized, validly existing
and in good standing under the laws of the jurisdiction of its organization with the requisite power and authority to enter into
and to consummate the transactions contemplated by the applicable Transaction Documents (as defined below) to which it is a party
and otherwise to carry out its obligations hereunder and thereunder. The execution, delivery and performance by such Buyer of
the transactions contemplated by this Agreement has been duly authorized by all necessary action on the part of such Buyer. This
Agreement has been duly executed and delivered by such Buyer, and constitutes the valid and legally binding obligation of such
Buyer, enforceable against it in accordance with its terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally, the enforcement of applicable creditors’ rights and remedies.

 

(b)
No Conflicts. The execution, delivery and performance by such Buyer of this Agreement and the consummation by such Buyer
of the transactions contemplated hereby will not (i) result in a violation of the organizational documents of the Buyer if it
is not a natural person or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both
would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture or instrument to which such Buyer is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment
or decree (including federal and state securities laws) applicable to such Buyer, except in the case of clauses (ii) and (iii)
above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected
to have a material adverse effect on the ability of such Buyer to perform its obligations hereunder. Since the date on which such
Buyer was first informed about the offering of the Notes, such Buyer has not disclosed any information regarding the offering
to any third parties (other than its legal, accounting and other advisors) and has not engaged in any purchases or sales involving
the securities of the Company (including, without limitation, any short sales involving the Company’s securities). Such
Buyer covenants that it will not engage in any purchases or sales involving the securities of the Company (including short sales)
prior to the time that the transactions contemplated by this Agreement are publicly disclosed by the Company. Such Buyer agrees
that it will not use any of the Notes acquired pursuant to this Agreement to cover any short position if doing so would be in
violation of applicable securities laws.

 

(c)
No Distribution. Such Buyer is not an underwriter, as defined in Section 2(a)(11) of the Securities Act, with respect to
the Notes.

 

    	2

    	 

    

 

(d)
Sophisticated Investor. Such Buyer is knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in securities presenting an investment decision like that involved in the purchase of the
Notes, including investments in securities issued by the Company and investments in comparable companies. Such Buyer understands
that nothing in this Agreement or any other materials made available to such Buyer in connection with the purchase and sale of
the Notes constitutes legal, tax or investment advice. Such Buyer has consulted such legal, tax and investment advisors as it,
in its sole discretion, has deemed necessary or appropriate in connection with its purchase of Notes.

 

(e)
Disclosure Package. In connection with its decision to purchase the Notes, such Buyer has relied only upon and read the
prospectus contained in the Registration Statement, the Company’s other filings with the SEC incorporated by reference therein
and the representations and warranties of the Company contained herein (the “Disclosure Package”). Further,
such Buyer acknowledges that such materials had been made available to such Buyer before this Agreement (or any contractual obligation
of such Buyer to purchase the Notes) was deemed to be effective.

 

(f)
Residency. Such Buyer is a resident of the jurisdiction specified under its address on the Buyer’s signature page.

 

(g)
Reliance. The representations, warranties and agreements of the Buyer contained herein are true and correct as of the date
hereof and may be relied upon by the Company, and the Buyer will notify the Company immediately of any adverse change in any such
representations and warranties which may occur prior to the acceptance of the subscription and will promptly send the Company
written confirmation thereof. The representations, warranties and agreements of the Buyer contained herein shall survive the execution
and delivery of this Agreement and the purchase of the Notes.

 

3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company represents and warrants to the Buyer that:

 

(a)
Organization. The Company has been duly organized and is validly existing as a corporation in good standing under the laws
of the State of Delaware, with corporate power and authority to own or lease its properties and carry on its business as presently
conducted. The Company and each of its subsidiaries are duly qualified to transact business in all jurisdictions in which the
conduct of their business requires such qualification, except where the failure to be so qualified would not reasonably be expected
to have a material adverse effect on the Company and such subsidiaries taken as a whole.

 

(b)
Authorization; Enforcement; Validity. The Company has the requisite corporate power and authority to enter into and perform
its obligations under this Agreement, the Notes and each of the other agreements entered into by the parties hereto in connection
with the transactions contemplated by this Agreement (collectively, the “Transaction Documents”) and to issue
the Notes in accordance with the terms hereof and thereof. The execution and delivery of the Transaction Documents by the Company
and the consummation by the Company of the transactions contemplated hereby and thereby, including, without limitation, the issuance
of the Notes, have been duly authorized by the Company’s Board of Directors. This Agreement has been duly executed and delivered
by the Company, and constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance
with its terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’
rights and remedies.

 

    	3

    	 

    

 

(c)
No Conflicts. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
will not (i) result in a violation of the organizational documents of the Company or any of its subsidiaries or (ii) conflict
with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture 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) applicable to the Company or any of its subsidiaries, except in the case
of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate,
reasonably be expected to have a material adverse effect on the ability of the Company to perform its obligations hereunder.

 

4.
REGISTER. The Company shall maintain at its principal executive offices (or such other office or agency of the Company
as it may designate by notice to each holder of Notes), a register for the Notes in which the Company shall record the name and
address of the person in whose name the Notes have been issued (including the name and address of each transferee) and the principal
amount of Notes held by such person.

 

5.
INDEMNIFICATION. The Buyer agrees to indemnify and hold the Company and its agents, representatives and employees harmless
from and against all liability, damage, loss, cost and expense (including reasonable attorneys’ fees) which they may incur
by reason of the failure of the Buyer to fulfill any of the terms or conditions of this Agreement, or by reason of any inaccuracy
or omission in the information furnished by the Buyer herein or any breach of the representations and warranties made by the Buyer
herein or in any document provided by the Buyer to the Company.

 

6.
AGREEMENT TO TRANSACTION DOCUMENTS. The Buyer hereby joins in and becomes a Holder under that certain Collateral Agent Agreement
dated as of _________, 2020 between iCap Vault 1, LLC, a Delaware limited liability company and Marketplace Realty Advisors, LLC,
in the form attached hereto as Exhibit D. Buyer has received and read a copy of the Collateral Agent Agreement, understands
its provisions, and adopts and agrees to be bound by all of the provisions of the Collateral Agent Agreement.

 

6.
MISCELLANEOUS.

 

(a)
This Agreement has been duly and validly authorized, executed and delivered by the Buyer and constitutes the valid, binding and
enforceable agreement of the Buyer. If this Agreement is being completed on behalf of an entity it has been completed and executed
by an authorized party.

 

(b)
Within five (5) days after receipt of a written request from the Company, the Buyer agrees to provide such information, to execute
and deliver such documents and to take, or forbear from taking, such actions or provide such further assurances as reasonably
may be necessary to correct any errors in documentation or to comply with any and all laws to which the Company is subject.

 

(c)
The Company shall be notified immediately of any change in any of the information contained above occurring prior to the Buyer’s
purchase of the Notes or at any time thereafter for so long as the Buyer is a holder of the Notes.

 

(d)
Termination of Agreement; Return of Funds. In the event that, for any reason, this Agreement is rejected in its entirety
by the Company, this Agreement shall be null and void and of no further force and effect, and no party shall have any rights against
any other party hereunder. In the event that the Company rejects this Agreement, the Company shall promptly return or cause to
be returned to Subscriber any money tendered hereunder without interest or deduction.

 

    	4

    	 

    

 

(e)
Governing Law; Jurisdiction; Waiver of Jury Trial. All questions concerning the construction, validity, enforcement and
interpretation of this Agreement shall be governed by the laws of the State of Delaware, without regard to principles of conflicts
of laws. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in King County,
Washington, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that
it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service
of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party
at the address for such 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
manner permitted by law. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY. EACH PARTY HERETO (A) CERTIFIES THAT NO AGENT, ATTORNEY,
REPRESENTATIVE OR ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT SEEK TO ENFORCE THE
FOREGOING WAIVER IN THE EVENT OF LITIGATION, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER
INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

(f)
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party; provided that a facsimile signature or other electronic signature (including portable document format) shall be considered
due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original,
not a facsimile or electronic signature.

 

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

 

(h)
Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified
continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the
prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective
expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred
upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
provision(s).

 

(i)
Entire Agreement; Amendments. This Agreement and the other Transaction Documents supersede all other prior oral or written
agreements between the Buyer, the Company, their affiliates and persons acting on their behalf with respect to the matters discussed
herein, and this Agreement, the other Transaction Documents and the instruments referenced herein and therein 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 amended, modified or waived other than by an instrument in writing signed by the
Company and the Buyer, and any amendment, modification or waiver to this Agreement made in conformity with the provisions of this
Section 6(e) shall be binding on such Buyer and holder of Notes as applicable. The Company has not, directly or indirectly, made
any agreements with the Buyer relating to the terms or conditions of the transactions contemplated by the Transaction Documents
except as set forth in the Transaction Documents.

 

 

    	5

    	 

    

 

(j)
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon
receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on
file by the sending party); or (iii) one (1) business day after deposit with an overnight courier service, in each case properly
addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be:

 

If
to the Company:

 

iCap
Vault 1, LLC

3535
Factoria Blvd. SE, Suite 500

Bellevue,
WA 98006

Telephone:
(425) 278-9030

Attention:
Investor Relations Department

 

with
a copy (for informational purposes only) to:

 

Anthony
L.G., PLLC

625
N. Flagler Drive, Suite 600

West
Palm Beach, FL 33401

Telephone:
(561) 514-0936

 

If
to the Buyer, to its address and facsimile number set forth on the Buyer’s signature page, with copies to such Buyer’s
representatives as set forth on the Buyer’s signature page, or to such other address and/or facsimile number and/or to the
attention of such other person as the recipient party has specified by written notice given to each other party five (5) business
days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent,
waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile machine containing
the time, date, recipient facsimile number and an image of the first page of such transmission or (C) provided by an overnight
courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt from an overnight courier service
in accordance with clause (i), (ii) or (iii) above, respectively.

 

(k)
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns, including any purchasers of the Notes. The Company shall not assign this Agreement or any rights or obligations
hereunder without the prior written consent of the Buyer. The Buyer may not assign this Agreement or any rights or obligations
hereunder without the prior written consent of the Company.

 

(l)
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

(m)
Survival. The representations, warranties and covenants of the Company and the Buyer contained in this Agreement shall
survive.

 

(n)
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 are reasonably necessary
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

(o)
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.

 

[The
remainder of page intentionally left blank; Signature page follow]

 

    	6

    	 

    

 

iCap
Vault 1, LLC

Investor
Profile

(Must
be completed by the Buyer)

 

Section
A - Personal Investor Information

 

	Investor
    Name(s):	 

 

	Individual
    executing Profile or Trustee:	 

 

	Social
    Security Numbers / Federal I.D. Number:	 

 

	Date
    of Birth:	 	 	Marital
    Status:	 
	Joint
    Party Date of Birth:	 	 	Investment
    Experience (Years):	 
	Annual
    Income:	 	 	 	 

 

	Home
    Street Address:	 
	 	 
	Home
    City, State & Zip Code:	 

 

	Home
    Phone:	 	 	Home
    Fax:	 	 	Home
    Email:	 

 

	Outside
    Broker/Dealer: 	 	 

 

    	7

    	 

    

 

INDIVIDUALS

 

IN
WITNESS WHEREOF, the Buyer has executed this Subscription Agreement , 2020.

 

	 	 
	 	(Signature
    of the Buyer)

 

	 	PRINT
    NAME:	 

 

	 	COMPANY
    NAME (IF APPLICABLE):
	 	 	 
	 	 	 
	 	TITLE
    OF SIGNER (IF APPLICABLE):
	 	 	 
	 	 	 
	 	TAXPAYER
    IDENTIFICATION OR SOCIAL

 

	 	SECURITY
    NO.:	 

 

	 	RESIDENCE
    OR BUSINESS ADDRESS:
	 	 	 
	 	 	 
	 	Street	 

 

	 	 	 	 
	 	City	State	Zip

 

	 	MAILING
    ADDRESS (If different from business address):
	 	 	 
	 	 	 
	 	Street	 

 

	 	 	 	 
	 	City	State	Zip

 

	 	PRINCIPAL
        AMOUNT OF

        NOTES
        SUBSCRIBED FOR: 

        
	 
	 	 	 
	 	PURCHASE
    PRICE OF NOTES: 	

 

ACCEPTED
AND AGREED TO:

 

iCap
Vault 1, LLC:

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

	Date:	 	,
    2020

 

    	8

    	 

    

 

CORPORATIONS,
PARTNERSHIPS, TRUSTS OR OTHER ENTITIES

 

IN
WITNESS WHEREOF, the Buyer has executed this Subscription Agreement________________, 2020.

 

	 	 
	 	NAME
    OF THE BUYER

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	Date:	 	,
    2020

 

	 	 	 
	 	TAXPAYER
    IDENTIFICATION OR SOCIAL

 

	 	SECURITY
    NO.:	 

 

	 	RESIDENCE
    OR BUSINESS ADDRESS:
	 	 	 
	 	 	 
	 	Street	 

 

	 	 	 	 
	 	City	State	Zip

 

	 	MAILING
    ADDRESS (If different from business address):
	 	 	 
	 	 	 
	 	Street	 

 

	 	 	 	 
	 	City	State	Zip

 

	 	PRINCIPAL
        AMOUNT OF

        NOTES
        SUBSCRIBED FOR:

        
	
	 	 	 
	 	PURCHASE
PRICE OF NOTES:	 

 

ACCEPTED
AND AGREED TO:

 

iCap
Vault 1, LLC:

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

	Date:	 	,
    2020

 

    	9

    	 

    

 

EXHIBIT
A

 

Form
of Notes

 

EXHIBIT
B

 

Indenture

 

EXHIBIT
C

 

Methods
of Payment

 

How
to Make an Initial Investment

 

To
make an initial investment, after reading this entire prospectus, you must set up an account and complete the onboarding process
at the Company’s website at www.icapequity.com/vault. Please refer to the website for instructions, requirements
and guidelines with respect to online account setup and initial investments. Certain eligibility rules apply. You will be required
to read and accept the Terms of Use before submitting completing this process online.

 

Currently,
the minimum initial investment is $25; however, the Company can waive the minimum initial investment requirement on a case to
case basis in its sole discretion. Your initial investment will be made using an ACH transfer from a U.S. bank account you have
successfully linked during the online onboarding process. You must verify your ownership of the linked U.S. bank account by completing
the bank account verification process online. Funds received as part of your initial investment cannot be redeemed until three
business days after such amounts are credited. You may not make an initial investment by wire transfer or by using cash or a check.
**Note that this is only for the initial investment and account linking.

 

How
to Make Additional Investments

 

After
your initial investment in the Notes, you may make additional investments at any time, without charge to you, in any amount, by
the methods described below or by such other means as the Company from time to time determines. There is no required minimum amount
for subsequent investments. All investments must be made in U.S. dollars unless otherwise designated by the Company.

 

BY
ACH INVESTMENT. You may use the Company website or call us at (425) 453-7497 at any time to withdraw any amount of funds from
your linked U.S. bank account to invest in the Notes through an ACH transfer. You may also set up automatic recurring ACH investment
transactions from a linked U.S. bank account. See “—BY AUTOMATIC MONTHLY INVESTMENT” below. If you set
up automatic recurring ACH investment transactions, the Company will prepare automatic electronic transfers using the transfer
dates each month for the amount authorized and on the business day you have requested. If an automatic transfer day falls on a
day that is not a business day, the transfer will be initiated on the next business day; provided, however, if an ACH automatic
investment is set for the last weekend of a month, the investment will be made on the last business day of that month. Investments
made by ACH transfer are invested in your Notes and begin to accrue interest on the same day your money is credited. In the case
of a one-time transfer, the Company will prepare an electronic transfer for the amount authorized and on the business day you
have requested. One-time ACH investment requests made prior to 7:30 a.m. Pacific Time generally will be posted to the Note on
the next business day and requests made at or after 7:30 a.m. Pacific Time generally will be posted two business days following
the request. Investments made by ACH cannot be redeemed until three business days after such amounts are credited to the Notes.
You may change or terminate any automatic investments at any time. You can confirm the date your investment was made by accessing
the Company website at www.icapequity.com/vault or by calling us at (425) 453-7497. We charge no fees for the receipt of
ACH transfers; however, your commercial bank or financial institution may charge you a fee if you make an investment by ACH transfer.

 

    	10

    	 

    

 

BY
WIRE INVESTMENT. You may make additional investments by wire transfer. The wire transfer must include the information provided
by the Company’s designated bank and come from a bank account in your name. Wires may only be originated from a bank located
in the U.S. and must be payable in U.S. dollars. Your investment will be credited and you will begin earning interest on the same
business day the wire is received provided that the funds have been received by 1:00 p.m. Pacific Time. Funds received at or after
1:00 p.m. Pacific Time are invested and begin to accrue interest on the next business day. Investments made by wire are available
for redemption beginning the day such investments are credited to the Notes. Investments by wire transfer may incur a charge from
your bank or financial institution. See “Description of the Notes— Account Fees and Charges.” Neither the Company
nor its designated bank is responsible for delays in acting on your request for authorization to make a wire transfer or in the
transfer and wiring of funds. You can confirm the date your investment was made by accessing the Company’s website at www.icapequity.com/vault
or by calling us at (425) 453-7497. If for any reason your wire request is declined, the Company will advise you of that fact
and give you instructions for how to make the additional investment through the ACH process.

 

BY
AUTOMATIC MONTHLY INVESTMENT. You may select to make additional investments via ACH on a monthly basis in a specified amount.
Automatic monthly investments may not be made by wire transfer. If you set up automatic recurring ACH investment transactions,
the Company’s designated bank will prepare automatic electronic transfers using the transfer dates each month for the amount
authorized and on the business day you have requested. If an automatic transfer day falls on a day that is not a business day,
the transfer will be initiated on the next business day; provided, however, if an ACH automatic investment is set for the last
weekend of a month, the investment will be made on the last business day of that month. Investments made by ACH transfer are invested
in your Notes and begin to accrue interest on the same day your money is credited. Investments made by ACH cannot be redeemed
until three business days after such amounts are credited to the Notes. You may request, modify or terminate the Automatic Monthly
Investment Option through the Company’s website at www.icapequity.com/vault or by calling us at (425) 453-7497. Such
notice is effective as soon as practicable after receipt by the Company’s designated bank. You can confirm the date your
investment was made by accessing the Company’s website at www.icapequity.com/vault or by calling us at (425) 453-7497.
We charge no fees for the receipt of ACH transfers; however, your commercial bank or financial institution may charge you a fee
if you make an investment by ACH transfer.

 

BY
CASH. You may invest in Notes by delivering cash to us at our executive offices located at 3535 Factoria Blvd. SE, Suite 500,
Bellevue, WA 98006. Investments in Notes made with cash begin to accrue interest as of the date the investment is made at our
executive offices.

 

BY
CHECK. You may invest in Notes by check delivered to our executive offices located at 3535 Factoria Blvd. SE, Suite 500,
Bellevue, WA 98006. Checks must be drawn in U.S. dollars on a U.S. bank. Investments made by check begin to accrue interest on
the date funds are credited to Company’s designated bank account.

 

We
reserve the right to reject any investment application and return the funds to a potential investor for any reason, including
if any investments are not preceded or accompanied by documentation satisfactory to us to establish that the potential investor
meets any applicable eligibility criteria.

 

EXHIBIT
D

Collateral
Agent Agreement

 

    	11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00304-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00304-of-00352.parquet"}]]