<SEC-DOCUMENT>0001534424-15-000277.txt : 20150914
<SEC-HEADER>0001534424-15-000277.hdr.sgml : 20150914
<ACCEPTANCE-DATETIME>20150914160036
ACCESSION NUMBER:		0001534424-15-000277
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20150908
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150914
DATE AS OF CHANGE:		20150914

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRO DEX INC
		CENTRAL INDEX KEY:			0000788920
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				841261240
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14942
		FILM NUMBER:		151105545

	BUSINESS ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
		BUSINESS PHONE:		949-769-3200

	MAIL ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f15-0667.htm
<DESCRIPTION>8-K FILING
<TEXT>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 18pt Times New Roman, Times, Serif"><B>UNITED
STATES&nbsp;</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 18pt Times New Roman, Times, Serif"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> </FONT></B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Washington,
D.C. 20549</B></FONT><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 18pt Times New Roman, Times, Serif"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 14pt Times New Roman, Times, Serif"><B>CURRENT
REPORT </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Pursuant
to Section 13 or 15(d) of the</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Securities
Exchange Act of 1934</B></FONT><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Date
of Report</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>(Date
of earliest event reported)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>September
8, 2015</B></FONT><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 24pt Times New Roman, Times, Serif"><B>PRO-DEX,
INC.</B></FONT><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> </FONT></B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(Exact
name of registrant as specified in its charter)</B></FONT></P>

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<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>COLORADO</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0-14942</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>84-1261240</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>(State
                                    or other jurisdiction</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>of
        incorporation)</B></FONT></P></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>(Commission</B></FONT></P>
                                    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>File
                                    Number)</B></FONT></P></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>(IRS
                                    Employer</B>&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>Identification
        Number)</B></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2361
McGaw Avenue</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Irvine,
California 92614</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>(Address
of Principal Executive Offices)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(949)
769-3200</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>(Registrant&rsquo;s
Telephone Number, Including Area Code) </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):&nbsp;</FONT></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule
    425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12
    under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR>
</TABLE>




<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant
    to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant
    to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Item 1.01</B></FONT></TD>
    <TD STYLE="text-align: left; width: 90%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Entry into a Material Definitive
    Agreement.</B></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Revolving
Loan Facility</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
September &nbsp;9, 2015, Pro-Dex, Inc. (the &ldquo;Company&rdquo;) entered into a Loan and Security Agreement (the &ldquo;Loan
Agreement&rdquo;) with Summit Financial Resources, L.P., a Hawaii limited partnership (&ldquo;Summit&rdquo;), providing for a
$1,000,000 revolving loan facility (the &ldquo;Revolving Loan Facility&rdquo;). Availability of borrowings under the Revolving
Loan Facility from time to time is subject to a borrowing base calculation based upon eligible accounts receivable of the Company multiplied
by 85% or such other percentage as may be determined by Summit. The Revolving Loan Facility is secured by substantially all personal
property of the Company.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Revolving Loan Facility terminates on March 9, 2017, subject to automatic one-year extensions unless the Company or Summit provides
notice of non-renewal at least 60 days prior to the end of the then-current period (the &ldquo;Loan Commitment Period&rdquo;).
The Revolving Loan Facility bears interest at an adjustable rate per annum of 2.0% above the prime rate as published in the Money
Rates section of the Wall Street Journal (the &ldquo;Prime Rate&rdquo;), payable monthly in arrears commencing on September 30,
2015, and on the last day of each month thereafter. Upon an event of default, the amount due under the Revolving Loan Facility
accelerates, becomes immediately due and payable, and bears interest at an adjustable rate per annum of 12.0% above the Prime
Rate.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Fees
payable by the Company to Summit under the Loan Agreement include (i) a monthly administration fee equal to 0.7% of the average
outstanding daily principal balance on the Revolving Loan Facility, (ii) an origination fee of $10,000, and (iii) an annual facility
fee of $10,000. A minimum monthly fee of up to $1,000 will be assessed in the event that the interest and administration fee are
less than $1,000. In addition, there is a $30,000 termination fee payable to Summit if the Company terminates the Revolving Loan
Facility before the last day of the Loan Commitment Period.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Loan Agreement contains representations and warranties, affirmative, restrictive and financial covenants, and events of default
that are customary for loan facilities of this type. In addition, the Loan Agreement contains a change of control provision, which
requires the Company to obtain Summit&rsquo;s consent prior to (i) transferring more than 25.0% of the Company&rsquo;s stock,
(ii) the current members of the Board of Directors of the Company (the &ldquo;Board&rdquo;) failing to constitute a majority of
the Board, and (iii) the President or any other executive officer of the Company resigning, being terminated or otherwise ceasing
to function as the President or other executive officer of the Company.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
connection with the Loan Agreement, the Company entered into an Intercreditor Agreement (the &ldquo;Intercreditor Agreement&rdquo;)
with Summit and Fineline Molds, a California corporation (&ldquo;Fineline&rdquo;). As previously disclosed, on February 1, 2015,
the Company acquired the business operations along with substantially all of the assets of Fineline (the &ldquo;Fineline Assets&rdquo;) for an aggregate purchase
price of $757,000, $100,000 of which is payable pursuant to a promissory note issued by the Company to Fineline, the seller of the aforementioned Fineline Assets (the &ldquo;Fineline
Note&rdquo;), that is secured by substantially all of the Fineline Assets. Pursuant to the Intercreditor Agreement, all encumbrances
on the property of the Company (including, without limitation, the Fineline Assets) in favor of Summit have priority over all
encumbrances on the property of the Company in favor of Fineline.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Copies
of the Loan Agreement and the Intercreditor Agreement are attached as exhibits to this report, and the above descriptions are
qualified by reference to the complete text of those documents and agreements.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Real
Property Loan&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
previously disclosed, on May 7, 2015, Pro-Dex Sunfish Lake, LLC (&ldquo;PDSL&rdquo;), a wholly owned subsidiary of the Company,
acquired 2.3 acres of land and an approximately 30,000 square foot building thereon located in Anoka County, Minnesota (the &ldquo;Property&rdquo;).
On September&nbsp;8, 2015, PDSL received a loan in the principal amount of $500,000 (the &ldquo;Property Loan&rdquo;) from Fortitude
Income Funds, LLC (&ldquo;Fortitude&rdquo;) pursuant to a promissory note issued by PDSL to Fortitude on the same date (the &ldquo;Property
Note&rdquo;). The Property Loan is secured by a mortgage in the Property pursuant to a Combination Mortgage, Security Agreement
and Fixture Financing Statement by PDSL in favor of Fortitude (the &ldquo;Mortgage&rdquo;) and by an Assignment of Leases and
Rents by PDSL in favor of Fortitude (the &ldquo;Rents Assignment&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Property Loan bears interest at a fixed rate of 12% per annum, which is subject to a 4% increase upon an event of default. Accrued
interest is payable monthly beginning on October 1, 2015 and continuing on the first day of each month thereafter until the Property
Loan is paid in full. The Property Loan matures on March 15, 2016, upon which the entire principal balance, together with any
accrued and unpaid interest, is payable in full. The Property Loan contains two three month options to extend the principal balance
with at least one month prior notice and an additional loan fee of 0.75% payable in advance. Any late payments under the Property
Loan are subject to a 4% late charge (which is in addition to any default interest that might apply). Any prepayment of the Property
Loan (other than monthly scheduled interest payments) on or before January 1, 2016, is subject to a prepayment fee equal to 2%
of the principal amount prepaid.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Property Note, the Mortgage and the Rents Assignment each contain representations, warranties, covenants and events of default
that are customary for a loan of this type. Copies of the Property Note, the Mortgage and the Rents Assignment are attached as
exhibits to this report, and the above descriptions are qualified by reference to the complete text of those documents and agreements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ITEM 2.03</B></FONT></TD>
    <TD STYLE="text-align: left; width: 90%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Creation of a Direct Financial
    Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></FONT></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
disclosures contained in Item 1.01 above concerning the Revolving Loan Facility and the Property Loan are incorporated into this
Item 2.03 by this reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ITEM 9.01</B></FONT></TD>
    <TD STYLE="text-align: left; width: 90%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Financial Statements and
    Exhibits.</B></FONT></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)
Exhibits</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left"><TD NOWRAP STYLE="width: 9%; border-bottom: Black 2px solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exhibit Number</FONT></TD>
                                                         <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 10%; border-bottom: Black 2px solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description</FONT></TD>
    <TD STYLE="text-align: left; width: 75%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
<TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Loan and Security Agreement,
    dated September&nbsp;9, 2015, between Summit Financial Resources, L.P. and Pro-Dex, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.2</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Intercreditor Agreement, dated September
    9, 2015, among Summit Financial Resources, L.P., Fineline Molds and Pro-Dex, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Promissory Note, dated September 8, 2015,
    made by Pro-Dex Sunfish Lake, LLC in favor of Fortitude Income Funds, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.4</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Combination Mortgage, Security Agreement
    and Fixture Financing Statement, dated September 8, 2015, made by Pro-Dex Sunfish Lake, LLC in favor of Fortitude Income Funds,
    LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.5</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Assignment of Leases and Rents, dated
    September 8, 2015, made by Pro-Dex Sunfish Lake, LLC in favor of Fortitude Income Funds, LLC</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">SIGNATURES
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date:
September 21, 2015</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>





<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="text-align: left; vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pro-Dex, Inc.</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: top">
    <TD STYLE="width: 50%"></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 47%; border-bottom: Black 2px solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
                                         Alisha K. Charlton&nbsp;</FONT></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: left"></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Alisha K. Charlton</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: left"></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial
    Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>LOAN AND SECURITY AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">LOAN
AND SECURITY AGREEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Between&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">SUMMIT
FINANCIAL RESOURCES, L.P.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Lender&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">and&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">PRO-DEX,
INC.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Borrower&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Effective
Date: September 9, 2015</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><U>LOAN AND
SECURITY AGREEMENT</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Loan and Security
Agreement is made and entered into by and between SUMMIT FINANCIAL RESOURCES, L.P., and PRO-DEX, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Definitions</U>. Terms defined in the singular shall have the same meaning when used in the plural and vice versa.
Terms defined in the UCC shall have the meanings set forth in the UCC, except as otherwise defined herein. As used herein, the
term:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Account&rdquo;
shall have the meaning set forth in the UCC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Account Debtor&rdquo;
means any person or entity obligated for payment of an Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Accounting Standards&rdquo;
means (a) in the case of financial statements and reports, conformity with generally accepted accounting principles and fully and
fairly representing the financial condition as of the date thereof and the results of operations for the period or periods covered
thereby, consistent with other financial statements of Borrower and Guarantor previously delivered to Lender, and (b) in the case
of calculations, definitions, and covenants, generally accepted accounting principles consistent with those used in the preparation
of financial statements of Borrower and Guarantor previously delivered to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Advance Rate&rdquo;
means eighty-five percent (85%), or such other percent as may be determined from time to time by Lender in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Banking Business
Day&rdquo; means any day not a Saturday, Sunday, legal holiday in the State of Utah, or day on which national banks in the State
of Utah are authorized to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Borrower&rdquo;
means PRO-DEX, INC., a corporation organized and existing under the laws of the State of Colorado, its successors and, if permitted,
assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Collateral&rdquo;
means the following personal property of Borrower, wherever located, now owned or existing or hereafter acquired or created, all
additions and accessions thereto, all replacements, insurance or condemnation proceeds, all documents covering any of the Collateral,
all leases of any of the Collateral, all rents, revenues, issues, profits and proceeds arising from the sale, lease, license, encumbrance,
collection, or any other temporary or permanent disposition of any of the Collateral or any interest therein, all amendments, modifications,
renewals, extensions, and replacements thereof, and all products and proceeds thereof: (a) all Inventory; (b) all Accounts; (c)&nbsp;all
equipment, goods and motor vehicles (collectively, the &ldquo;Equipment&rdquo;); (d) all general intangibles, including, without
limitation, any and all patents, trademarks and copyrights (registered or unregistered), trade secrets, domain names and addresses,
and intellectual property licenses; (e) any and all promissory notes and instruments payable to or owing to Borrower or held by
Borrower; any and all leases under which Borrower is the lessor; any and all chattel paper in favor of, owing to, or held by Borrower,
including, without limitation, any and all conditional sale contracts or other sale agreements, whether Borrower is the original
party or the assignee; and any and all security agreements, collateral and titles to motor vehicles which secure any of the foregoing
obligations; all deposit accounts, including, without limitation, all interest, dividends or distributions accrued or to accrue
thereon, whether or not due; all investment property, including, without limitation, all interest, dividends or distributions accrued
or to accrue thereon, whether or not due, all documents; all letter-of-credit rights; and all supporting obligations (collectively,
the &ldquo;Financial Obligations&rdquo;); and (f) all balances, deposits, debts or any other amounts or obligations of Lender owing
to Borrower, including, without limitation, any Reserve, whether or not due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Collected Payments&rdquo;
means collections and payments received by Lender on Accounts of Borrower. Credits for Collected Payments shall be provisional
and subject to final payment and collection of the deposited item.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Collected Reserve&rdquo;
means such amounts as may be determined from time to time by Lender in its sole discretion that are deducted from Collected Payments
or withheld by Lender from disbursements of the Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Default Rate&rdquo;
means a variable interest rate computed on the basis of a three hundred sixty (360) day year as follows: twelve percent (12%) per
annum above the Prime Rate, adjusted as of the date of any change in the Prime Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Effective Date&rdquo;
shall mean the date the parties intend this Loan and Security Agreement to become binding and enforceable, which is the date stated
at the conclusion of this Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Eligible Account&rdquo;
means an Account of Borrower which meets the following specifications at the time it is created and at all times thereafter until
collected in full:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account meets all applicable representations, warranties, and covenants concerning the Collateral set forth in Section
4.4 <U>Representations and Warranties Concerning Collateral</U> and Section 4.5 <U>Covenants Concerning Collateral</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Account is due
and payable not more than sixty (60) days from the date of the invoice evidencing the Account and is not more than ninety (90)
days past the date of the invoice evidencing the Account.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance of all
services giving rise to the Account has been completed and all goods giving rise to the Account have been delivered.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account Debtor is located or authorized to do business within the United States or Canada (excluding the province of
Newfoundland, the Northwest Territories, and the Territory of Nunavut) and maintains an office and transacts business in the United
States or Canada (excluding the province of Newfoundland, the Northwest Territories, and the Territory of Nunavut), or payment
of the Account (i) has been assured by a letter of credit in a form and upon terms acceptable to Lender or (ii) is covered under
a policy of credit insurance acceptable to Lender which has been assigned to Lender or names Lender as an additional insured and
lender loss payee in a form and manner acceptable to Lender.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>No proceeding has been commenced or petition filed under any bankruptcy or insolvency law by or against the Account Debtor;
no receiver, trustee or custodian has been appointed for any part of the property of the Account Debtor; and no property of the
Account Debtor has been assigned for the benefit of creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Account,
nor any invoice, credit application, bill, billing memorandum, correspondence, or any other document relating to an Account, contracts
for or charges any interest or any other charge in excess of the maximum non-usurious rate allowed pursuant to applicable law.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If twenty-five percent (25%) or more of the Accounts owing to Borrower by any particular Account Debtor do not qualify as
Eligible Accounts, all Accounts owing by such Account Debtor shall not be Eligible Accounts.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">h.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account is not owing by an Account Debtor for whom the terms of sale by Borrower are cash on delivery (&ldquo;COD&rdquo;)
or considered a cash sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower does not owe an account payable to the Account Debtor which could be set off against the Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">j.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If the total of all outstanding Accounts owing by any single Account Debtor equals seventy percent (70%) or more of the
total outstanding Accounts owing to Borrower, the amount of Accounts owing by that Account Debtor in excess of this limit shall
not be Eligible Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">k.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If the Account is subject to any type of retainage, only the non-retainage portion of the Account shall be an Eligible Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">l.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account is not owing with respect to any job which is bonded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">m.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account does not arise from goods placed on consignment, guaranteed sale, or other terms by reason of which the payment
by the Account Debtor may be conditional.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">n.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account is not owing by an employee, officer, or director of Borrower or by a parent, subsidiary, sister company, or
other company or entity related to or an affiliate of Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">o.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>For all Accounts arising under any contract, subcontract, purchase order, or any other agreement with or related to the
United States Government, or any agency, branch, division, or subdivision thereof, the Account Debtor has acknowledged and consented
to Borrower&rsquo;s assignment of Accounts to Lender and has agreed, in a form acceptable to Lender, to remit payments directly
to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">p.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account will not be paid by credit card or other form of electronic payment other than wire or ACH transfer sent directly
to a deposit account specified by Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">q.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Account has not been deemed by Lender to be unacceptable and is not owing by an Account Debtor deemed by Lender to be
unacceptable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Equipment&rdquo;
shall have the meaning set forth in the definition of Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Escrow Reserve&rdquo;
means the amount of Eligible Accounts withheld by Lender on which disbursements of the Loan are based equal to one (1) minus the
Advance Rate multiplied by the face amount of the Eligible Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Event of Default&rdquo;
shall have the meaning set forth in Section 9.1 <U>Events of Default</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Guarantee&rdquo;
means each guarantee executed pursuant to Section 5.1 <U>Guarantee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Guarantor&rdquo;
means each person or entity that executes a Guarantee, and its successors, heirs, and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Inventory&rdquo;
shall have the meaning set forth in the UCC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Lender&rdquo;
means SUMMIT FINANCIAL RESOURCES, L.P., a Hawaii limited partnership, its successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Liquidation
Costs&rdquo; means the reasonable costs and out of pocket expenses incurred by Lender in obtaining possession of any Collateral,
in storage and preparation for sale, lease or other disposition of any Collateral, in the sale, lease, or other disposition of
any or all of the Collateral, and/or otherwise incurred in foreclosing on any of the Collateral, including, without limitation,
(a) reasonable attorneys&rsquo; fees and legal expenses, (b) transportation and storage costs, (c) advertising costs, (d) sale
commissions, (e) sales tax and license fees, (f) costs for improving or repairing any of the Collateral, and (g) costs for preservation
and protection of any of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Loan&rdquo;
means the loan to be made pursuant to Section 2 <U>Loan Description</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Loan and Security
Agreement&rdquo; means this agreement, together with any exhibits, amendments, addendums, and modifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Loan Commitment
Period&rdquo; means an initial period of eighteen (18) months commencing on the Effective Date and thereafter successive periods
of one (1) year each commencing upon completion of each prior Loan Commitment Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Loan Documents&rdquo;
means the Loan and Security Agreement, Guarantee, Security Documents, all other agreements and documents contemplated by any of
the aforesaid documents, and all amendments, modifications, addendums, and replacements, whether presently existing or created
in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Lock Box&rdquo;
means that certain Lock Box owned by Lender located at PO Box 844223, Los Angeles, CA 90084-4223.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Material Adverse
Effect&rdquo; means a material adverse effect on Borrower&rsquo;s or any Guarantor&rsquo;s financial condition, conduct of its
business, or ability to perform its obligations under the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Maximum Loan
Amount&rdquo; means one million dollars ($1,000,000).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Monthly Minimum&rdquo;
means one thousand dollars ($1,000).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Notice of Assignment&rdquo;
shall have the meaning set forth in Section 4.2 <U>Notice of Assignment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Organizational
Documents&rdquo; means, in the case of a corporation, its Articles of Incorporation and By-Laws; in the case of a general partnership,
its Articles of Partnership; in the case of a limited partnership, its Articles of Limited Partnership; in the case of a limited
liability company, its Articles of Organization and Operating Agreement or Regulations, if any; in the case of a limited liability
partnership, its Articles of Limited Liability Partnership; and all amendments, modifications, and changes to any of the foregoing
which are currently in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Permitted Encumbrances&rdquo;
means liens for taxes and assessments not yet due and payable or, if due and payable, those being contested in good faith by appropriate
proceedings and for which appropriate reserves are maintained, security interests and liens created by the Loan Documents, and
security interests and liens authorized in writing by Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Prime Rate&rdquo;
means the Prime Rate as published in the Money Rates section of <I>The Wall Street Journal.</I> This definition of Prime Rate is
to be strictly interpreted and is not intended to serve any purpose other than providing an index to determine the variable interest
rate used herein. It is not the lowest rate at which Lender may make loans to any of its customers, either now or in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Reserve&rdquo;
means, individually and collectively, the Escrow Reserve and the Collected Reserve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Security Documents&rdquo;
means all security agreements, including, without limitation, this Loan and Security Agreement, assignments, pledges, financing
statements, and other documents which create or evidence any security interest, assignment, lien or other encumbrance in favor
of Lender to secure any or all of the obligations created or contemplated by any of the Loan Documents, and all amendments, modifications,
addendums, and replacements, whether presently existing or created in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;UCC&rdquo; means
the Uniform Commercial Code as adopted now or in the future in the State of Utah.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Loan Description</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;2.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Amount of Loan</U>. Upon fulfillment of all conditions precedent set forth in this Loan and Security Agreement, and so
long as no Event of Default exists and no other breach has occurred under the Loan Documents, Lender may, in its sole discretion,
loan Borrower up to the Maximum Loan Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;2.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Nature and Duration of Loan</U>. The Loan shall be a revolving loan payable in full upon the date and upon the terms
and conditions provided in this Loan and Security Agreement. Lender and Borrower intend the Loan to be in the nature of a line
of credit under which Borrower may repeatedly draw funds on a revolving basis in accordance with the terms and conditions of this
Loan and Security Agreement. The right of Borrower to draw funds and the obligation of Lender to advance funds shall not accrue
until all of the conditions set forth in Section 6 <U>Conditions to Loan Disbursements</U> have been fully satisfied, and shall
terminate: (a)&nbsp;upon occurrence of an Event of Default or (b) upon the expiration of the final Loan Commitment Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Notice and Manner of Borrowing</U>. Requests by Borrower for advances of the Loan shall be given in writing or orally
no later than one (1) Banking Business Day prior to the date on which the advance is to be made. Each request for an advance shall
be accompanied by such reports and information as requested by Lender, in the form requested by Lender, including, without limitation,
an itemization of outstanding Eligible Accounts, details and information concerning outstanding Eligible Accounts, and an updated
report on collections on Eligible Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Interest</U>. So long as no Event of Default has occurred, interest shall accrue on the outstanding principal balance
of the Loan from the date of disbursement of the principal amount of the Loan, or any portion thereof, until paid, both before
and after judgment, at a variable rate computed on the basis of a three hundred sixty (360) day year as follows: two percent (2%)
per annum above the Prime Rate from time to time in effect, adjusted as of the date of any change in the Prime Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Interest shall be paid
monthly in arrears commencing on September 30, 2015, and on the last day of each month thereafter. For purposes of calculating
interest owing, payments delivered to a bank or other agent on behalf of Lender shall be deemed received four (4) Banking Business
Days after the date of receipt of advice by Lender from the bank or agent that the payments received have been credited to the
account of Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Collected Payments; Setoff and Deduction by Lender</U>. Lender shall apply all Collected Payments to the Loan and to
payment of all other obligations owing by Borrower under the Loan Documents in such order as set forth in Section 11.12 <U>Interest
on Expenses and Indemnification, Collateral, Order of Application</U>. As to all amounts owing to Lender by Borrower, Lender may
(a) deduct such amount from Collected Payments, (b) setoff and deduct such amount against disbursements of the Loan, (c) demand
payment from Borrower whereupon Borrower shall promptly pay such amount to Lender, or (d) exercise any combination of the alternatives
set forth in this Section or available under the Loan Documents, at law, or in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Limitations on Advances</U>. Notwithstanding anything to the contrary in the Loan Documents, no advances shall be made
on the Loan if, after making the requested advance, the total, aggregate, principal amount of all advances outstanding will exceed
the total, face amount of all outstanding Eligible Accounts multiplied by the Advance Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower will maintain
at all times Eligible Accounts so that the total, aggregate, principal amount of all advances at any time outstanding and unpaid
shall be in compliance with this formula. If at any time the total, aggregate, principal amount of all such advances outstanding
and unpaid exceeds the amount allowable under this formula, Borrower shall immediately make payment to Lender in a sufficient amount
to bring the amount of such advances back into compliance, and if such payment is not immediately made, interest shall accrue on
such amount at the Default Rate, regardless of whether Lender waives the Event of Default caused by such non-payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Administration Fees</U>. Borrower shall pay Lender a monthly administration fee in an amount equal to seven-tenths percent
(0.7%) of the average outstanding daily principal balance on the Loan for each calendar month, or portion thereof. The administration
fees are for monitoring of the Collateral and for collection of the Accounts and are not intended to be and shall not be construed
to be interest. The administration fees shall be due and payable monthly in arrears. Lender is authorized and directed to disburse
a sufficient amount of the Loan as necessary each month to pay the administration fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Supplemental Fee</U>. Borrower shall pay Lender a monthly supplemental fee in an amount equal to the amount by which
the Monthly Minimum exceeds the amount of administration fees for each month plus the amount of interest paid for each month. The
supplemental fee shall be due and payable monthly in arrears. Lender is authorized and directed to disburse a sufficient amount
of the Loan as necessary to pay the monthly supplemental fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Origination Fee</U>. Borrower shall pay Lender an origination fee in an amount equal to one percent (1%) of the Maximum
Loan Amount. The origination fee shall be due and payable upon execution of this Loan and Security Agreement. In the event the
Maximum Loan Amount is increased during the first year of this Loan and Security Agreement, an additional origination fee shall
be charged on the amount of the increase, prorated from the date of the increase to the anniversary date of this Loan and Security
Agreement. Any additional origination fee shall be due and payable on the effective date of the increase in the Maximum Loan Amount.
No portion of any </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">such fee shall be refunded in the event of early termination of this Loan and Security Agreement or any termination
or reduction of the right of Borrower to request advances under this Loan and Security Agreement. Lender is authorized and directed,
upon execution of this Loan and Security Agreement, to disburse a sufficient amount of the Loan as necessary to pay the origination
fee in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Annual Facility Fee</U>. On each anniversary of the Effective Date, so long as the Loan has not been terminated, Borrower
shall pay Lender an annual facility fee in an amount equal to one percent (1%) of the Maximum Loan Amount. In the event the Maximum
Loan Amount is increased after the first anniversary date of this Loan and Security Agreement, an additional annual facility fee
shall be charged on the amount of the increase, prorated from the date of the increase to the next anniversary date of this Loan
and Security Agreement. Any additional annual facility fee shall be due and payable on the effective date of the increase in the
Maximum Loan Amount. No portion of such fee shall be refunded in the event of early termination of this Loan and Security Agreement
or any termination or reduction of the right of Borrower to request advances under this Loan and Security Agreement. Lender is
authorized and directed to disburse a sufficient amount of the Loan as necessary to pay each annual facility fee in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Reserve</U>. The Reserve shall be a contingent obligation owing to Borrower by Lender and shall be disbursed only in
accordance with the terms and conditions of this Loan and Security Agreement. Lender may use the Reserve, in Lender&rsquo;s sole
discretion, to repay any obligations owing by Borrower to Lender as set forth in Section 2.5 <U>Collected Payments; Setoff and
Deduction by Lender</U>. Interest shall not accrue on the Reserve and Borrower shall not be entitled to any interest on the Reserve.
Lender shall have no obligation to segregate, not commingle, or otherwise account for the use of the Reserve, and Lender shall
be free to use the Reserve as working capital or as Lender otherwise determines. From time to time and upon Borrower&rsquo;s request,
Lender may, in its sole discretion, elect to release all or any portion of the Collected Reserve to Borrower. In addition, upon
termination and payment in full of the Loan and all other obligations owing by Borrower and Guarantor under the Loan Documents,
any balance of the Reserve shall be paid to Borrower, provided that if Lender has reasonable grounds to believe that any collections
or other payments received by Lender may be dishonored, voided, or preferential, or claims may be made against Lender for which
Borrower would be liable, Lender may continue to hold the Reserve so long as such matters are outstanding and unresolved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Excess Interest</U>. It is the intent of the parties to comply with any usury law applicable to the Loan and to all amounts
owing pursuant to the Loan Documents and it is understood and agreed that in no event and upon no contingency shall Borrower or
any Guarantor be required to pay interest in excess of the rate allowed by any laws of any state which are determined to be applicable
and governing. The intention of the parties being to conform strictly to any applicable usury laws, the Loan Documents shall be
held to be subject to reduction to the amount allowed under any applicable and governing usury laws as now or hereafter construed
by the courts having jurisdiction. In the event Lender receives any interest under the Loan Documents in excess of any highest
permissible rate under any applicable and governing law, such excess interest (including simple interest thereon at the interest
rate at the highest permissible rate which is applicable and governing) shall be promptly applied to any unpaid principal balance
owed by Borrower. To the extent such excess interest is greater than the unpaid principal balance, Lender shall promptly remit
such overage to Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Renewal of Loan Commitment Period; Termination of Loan</U>. Each Loan Commitment Period shall automatically renew
for an additional Loan Commitment Period unless Borrower or Lender provides written notice of non-renewal at least sixty (60) days
prior to the end of the current Loan Commitment Period. If Borrower elects to terminate the Loan at any time other than the last
day of a Loan Commitment Period, or if an Event of Default accelerates payment of the Loan or terminates the right of Borrower
to receive advances hereunder, Borrower shall pay Lender an early termination fee equal to three percent (3%) of the Maximum Loan
Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon any such non-renewal
or termination of the Loan, all other terms and provisions of this Loan and Security Agreement, including, without limitation,
the security interests granted in favor of Lender, shall remain in full force and effect until all amounts owing to Lender hereunder
have been finally paid in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Security for Loan</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Grant of Security Interest</U>. Borrower hereby grants Lender a security interest in the Collateral. Borrower and Lender
acknowledge their mutual intent that all security interests contemplated herein are given as a contemporaneous exchange for new
value to Borrower, regardless of when advances to Borrower are actually made or when the Collateral is created or acquired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Collateral shall
secure all of Borrower&rsquo;s present and future debts, obligations, and liabilities of whatever nature, and without any limitation
whatsoever, to Lender, including, without limitation, (a) the Loan, (b)&nbsp;all obligations of Borrower under the Loan Documents,
(c)&nbsp;all advances of the same kind and quality relating to this transaction, and (d) transactions in which the documents evidencing
the indebtedness refer to this grant of security interest as providing security thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower&rsquo;s obligations
under this Loan and Security Agreement may also be secured by other collateral as may be evidenced by other documentation apart
from this Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Notice of Assignment</U>. Upon execution and delivery of this Loan and Security Agreement, Borrower shall immediately
execute and deliver to Lender a notice of assignment in a form acceptable to Lender (the &ldquo;Notice of Assignment&rdquo;). Lender
is hereby authorized to, and may at any time and from time to time, use the Notice of Assignment, or any other form of notice as
determined by Lender, to notify any or all Account Debtors that the Accounts of Borrower have been assigned to Lender and that
all payments of the Accounts are to be paid directly to Lender. Borrower shall not amend, modify, or otherwise alter the payment
instructions contained in the Notice of Assignment or otherwise interfere in any manner with such payment instructions. In addition,
unless directed otherwise in writing by Lender, Borrower shall promptly mail an invoice to each Account Debtor on each Account,
which invoice shall be stamped or printed with a notice, in a form acceptable to Lender, stating that the Account is payable to
Lender and providing Lender&rsquo;s payment instructions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower does hereby
make, constitute, and appoint Lender and its designees as Borrower&rsquo;s true and lawful attorney in fact, with full power of
substitution, to endorse Borrower&rsquo;s name upon notes, checks, acceptances, drafts, money orders, and other forms of payment
of the Accounts of Borrower. Borrower agrees to execute and deliver any documents and take such actions as may be reasonably requested
by Lender to give effect to the foregoing. This power of attorney is irrevocable and coupled with an interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Collection of Accounts</U>. Until such time as provided in this Section, Borrower is authorized to collect the Accounts
in a commercially reasonable manner, provided that (a)&nbsp;Borrower instructs all Account Debtors to remit all payments on all
Accounts directly and exclusively to the Lock Box as instructed in the Notice of Assignment, and (b) in the event Borrower receives
any payment from an Account Debtor on an Account, Borrower immediately delivers such payment to the Lock Box. Borrower agrees to
use diligent and good faith efforts to collect the Accounts. Notwithstanding the foregoing, Borrower authorizes Lender to contact
Account Debtors concerning verification and payment of Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon Borrower&rsquo;s
receipt of notice from Lender that an Event of Default or event which, with the passage of time or giving of notice or both, would
constitute an Event of Default, has occurred or that Lender deems itself insecure, the following terms and conditions shall thereafter
apply to all Accounts:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Unless directed otherwise in writing by Lender, Borrower shall promptly mail an invoice to each Account Debtor on each Account,
which invoice shall be stamped or printed with a notice, in a form acceptable to Lender, stating that the Account is payable to
Lender and providing Lender&rsquo;s payment instructions. Except as agreed otherwise in writing by Lender, Lender shall have the
exclusive right to collect and to receive all payments on all Accounts. Borrower shall not otherwise bill for, submit any invoice,
or otherwise attempt to collect any Account. Lender is authorized to use the Notice of Assignment, or any other form of notice
as determined by Lender, to notify Account Debtors of the assignment of Borrower&rsquo;s Accounts and to direct Account Debtors
to make all payments on Accounts directly to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower authorizes Lender to contact Account Debtors concerning verification, payment, and collection of Accounts and to
settle or compromise any Account, in the sole discretion of Lender subject only to acting in good faith. Borrower hereby waives
and releases any and all claims relating to or arising out of any act or omission by Lender in the verification and collection
of Accounts, excluding those based on gross negligence or intentional misconduct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower shall promptly and completely respond to all requests from Lender for any information or records requested to assist
in collection of Accounts. If Borrower fails to respond to any request within two (2) Banking Business Days, Lender may deem the
Account to no longer be an Eligible Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Upon inquiry from a customer or upon request of Lender, Borrower shall notify the customer to make payment directly to or
as directed by Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All collections of Accounts shall be handled by Lender. Collection of Accounts in a commercially reasonable manner does
not require, and Lender is not obligated, to commence any legal action, including, without limitation, the sending of an attorney&rsquo;s
demand letter, to collect any Account. Borrower acknowledges and agrees that Lender is not a collection agency and will not provide
debt collection services for Borrower&rsquo;s Accounts. If any Account is not timely paid, Lender may, but is not obligated to,
engage a collection agency, attorney or other service provider to collect the Accounts. All commissions, fees and charges of any
such collection agency, attorney or other service provider shall be paid by Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Lender may, but has no duty to, and Borrower hereby authorizes Lender to, execute and&nbsp;file, on behalf of Borrower or
in Lender&rsquo;s name,&nbsp;mechanic&rsquo;s liens and all other notices and documents to create, perfect, preserve, foreclose&nbsp;and/or&nbsp;release
any lien for work performed or materials provided&nbsp;to improve&nbsp;real property.&nbsp; Except as otherwise instructed by Lender,
Borrower is authorized to file any such mechanic&rsquo;s liens and other notices and documents in Borrower&rsquo;s discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any payments received by Borrower on Accounts shall be held in trust by Borrower for Lender. In the event an Account Debtor
makes payment to Borrower on any Account, Borrower shall immediately notify Lender of the payment and deliver the payment to Lender.
If payment is made by check or similar instrument, such instrument shall be immediately delivered to Lender in the form received
without negotiation. If any payment received by Borrower on any Account is deposited or negotiated by Borrower, or if Borrower
fails to tender the payment to Lender within two (2) Banking Business Days of receipt by Borrower, Borrower shall promptly pay
Lender a payment conversion fee equal to ten percent (10%) of the amount of the payment. Lender is authorized and directed to disburse
a sufficient amount of the Loan as necessary to pay any payment conversion fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations and Warranties Concerning Collateral</U>. Borrower represents and warrants that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower is the sole owner of the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Inventory and Accounts are not subject to any security interest, lien, prior assignment, or other encumbrance of any
nature whatsoever except Permitted Encumbrances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;The Account is a bona fide obligation of the Account Debtor for the amount identified on the records of Borrower and there
have been no payments, deductions, credits, payment terms, or other modifications or reductions in the amount owing on such Account
except as reported to Lender prior to Lender making any advance based upon the Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There are no defenses or setoffs to payment of the Account which can be asserted by way of defense or counterclaim against
Borrower or Lender and the Account will be timely paid in full by the Account Debtor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There is presently no default or delinquency in any payment of the Accounts, except for any default or delinquency which
has been reserved against by Borrower in accordance with generally accepted</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">accounting principles and the Accounts will be timely
paid in full by the obligors, except for normal and customary disputes which arise in the ordinary course of business and which
do not affect a material portion of the Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower has no knowledge of any fact or circumstance which would materially impair the ability of any obligor on the Accounts
to timely perform its obligations thereunder, except those which arise in the ordinary course of business and which do not affect
a material portion of the Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All services performed or goods sold giving rise to the Accounts have been rendered or sold in compliance with applicable
laws, ordinances, rules, and regulations and in the ordinary course of Borrower&rsquo;s business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">h.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>There have been no extensions, modifications, or other agreements relating to payment of the Accounts, except those granted
in the ordinary course of business and which do not affect a material portion of the Accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Covenants Concerning Collateral</U>. Borrower covenants that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower will keep the Accounts and Inventory free and clear of any and all security interests, liens, assignments or other
encumbrances, except Permitted Encumbrances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower will immediately notify Lender of any dispute concerning any Account and of any bankruptcy filing, lien, garnishment,
or other legal action concerning any Account or Account Debtor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower hereby authorizes Lender to file UCC Financing Statements concerning the Collateral. Borrower will execute and
deliver any documents (properly endorsed, if necessary) reasonably requested by Lender for perfection or enforcement of any security
interest or lien, give good faith, diligent cooperation to Lender, and perform such other acts reasonably requested by Lender for
perfection and enforcement of any security interest or lien, including, without limitation, obtaining control for purposes of perfection
with respect to Collateral consisting of deposit accounts, investment property, letter-of-credit rights, and electronic chattel
paper. Lender is authorized to file, record, or otherwise utilize such documents as it deems necessary to perfect and/or enforce
any security interest or lien granted hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower shall keep the Equipment in good repair, ordinary wear and tear and obsolescence excepted, and be responsible for
any loss or damage to the Equipment. Borrower shall pay when due all taxes, license fees, and other charges on the Equipment. Borrower
shall not sell, convey, transfer, assign, conceal, or in any way dispose of the Equipment. Borrower shall not misuse or permit
the Equipment to be used unlawfully or for hire or contrary to the provisions of any insurance coverage. Risk of loss of the Equipment
shall be on Borrower at all times unless Lender takes possession of the Equipment. Loss of or damage to the Equipment or any part
thereof shall not release Borrower from any of the obligations secured by the Equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower agrees to insure the Equipment and Inventory, at Borrower&rsquo;s expense, against loss, damage, theft, and such
other risks as Lender may request to the full insurable value thereof with insurance companies and policies satisfactory to Lender.
Proceeds from such insurance shall be payable to Lender as its interest may appear. Such policies shall name Lender as an additional
insured and as lender loss payee and shall provide for a minimum thirty (30) days written cancellation notice to Lender. Upon request,
policies or certificates attesting to such coverage shall be delivered to Lender. Insurance proceeds may be applied by Lender toward
payment of any obligation secured by this Loan and Security Agreement, whether or not due, in such order of application as Lender
may elect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower will at all times keep accurate and complete records of the Collateral. Lender or its representatives may, at any
time and from time to time, enter any premises where the Collateral and/or the records pertaining to the Collateral are located
and inspect, inventory, audit, check, copy, and otherwise review the Collateral and the records concerning the Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>So long as no Event of Default has occurred, Borrower shall have the right to sell or otherwise dispose of the Inventory
in the ordinary course of business. No other disposition of the Inventory may be made without the prior written consent of Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">h.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as no Event
of Default has occurred, Borrower is authorized to collect payment on all Financial Obligations Collateral in a commercially reasonable
manner. Borrower agrees to use diligent and good faith efforts to collect the Financial Obligations Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Release of Lender as Condition to Lien Termination</U>. In recognition of Lender&rsquo;s right to have all its attorneys&rsquo;
fees and expenses incurred in connection with this Loan and Security Agreement secured by the Collateral, notwithstanding payment
in full of the Loan and all other obligations secured by the Collateral, Lender shall not be required to release, reconvey, or
terminate any Security Document unless and until Borrower and all Guarantors have executed and delivered to Lender general releases
in form and substance satisfactory to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">5.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Guarantee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Guarantee</U>. Upon execution and delivery of this Loan and Security Agreement, and from time to time as Lender may request,
Borrower shall cause to be executed and delivered to Lender Guarantees, in a form acceptable to Lender, from such persons and/or
entities that Lender may designate. Except as agreed otherwise in writing by Lender, the Loan and all obligations of Borrower owing
to Lender shall be guaranteed by the Guarantors under the Guarantees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Payments on Indebtedness Owing to Guarantor</U>. Borrower agrees to not make any payments on any indebtedness owing to
any Guarantor without the prior written consent of Lender so long as any amount is outstanding and owing under or arising from
the indebtedness owing to Lender pursuant to the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">6.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Conditions to Loan Disbursements</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Conditions to Loan Disbursements</U>. Lender&rsquo;s obligation to advance any funds at any time pursuant to this Loan
and Security Agreement is discretionary, and Lender shall have no obligation to disburse any portion of the Loan under this Loan
and Security Agreement, notwithstanding anything to the contrary in the Loan Documents. Lender may, at any time and from time to
time, decline to advance all or any portion of the Loan under this Loan and Security Agreement for any reason or for no reason,
without notice, regardless of any course of conduct or past advances or disbursements by Lender. In addition, Lender shall not
consider making any disbursements of the Loan until all of the conditions set forth below have been satisfied, and each disbursement
of the Loan shall be expressly subject to such conditions. All of the documents referred to below must be in a form and substance
acceptable to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the Loan Documents and all other documents contemplated to be delivered to Lender prior to funding have been fully
executed and delivered to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the documents contemplated by the Loan Documents which require filing or recording have been properly filed and recorded
so that all of the liens and security interests granted to Lender in connection with the Loan will be properly created and perfected
and will have a priority acceptable to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
other conditions precedent provided in or contemplated by the Loan Documents or any other agreement or document have been performed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As of the date of disbursement of all or any portion of the Loan, the following shall be true and correct: (i) all representations
and warranties made by Borrower and Guarantor in the Loan Documents are true and correct as of the date of such disbursement; and
(ii) no Event of Default has occurred and no conditions exist and no event has occurred, which, with the passage of time or the
giving of notice, or both, would constitute an Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For each requested disbursement, Lender has received such reports and information concerning outstanding Eligible Accounts
and payments as requested by Lender pursuant to Section 2.3 <U>Notice and Manner of Borrowing</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All conditions precedent
set forth in this Loan and Security Agreement and any of the Loan Documents are for the sole benefit of Lender and may be waived
unilaterally by Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No Default, Adverse Change, False or Misleading Statement</U>. Lender&rsquo;s agreement to make the Loan available to
Borrower pursuant to this Loan and Security Agreement shall, at Lender&rsquo;s sole discretion, terminate upon the occurrence of
any Event of Default, any event which could have a Material Adverse Effect, or upon the determination by Lender that any of Borrower&rsquo;s
or any Guarantor&rsquo;s representations made in any of the Loan Documents were false or materially misleading when made. Upon
the exercise of such discretion, Lender shall be relieved of all further obligations under the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">7.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Representations and Warranties</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Organization and Qualification</U>. Borrower represents and warrants that: (a) it is a corporation organized and existing
under the laws of the State of Colorado; (b) it has delivered to Lender or Lender&rsquo;s counsel accurate and complete copies
of its Organizational Documents which are operative and in effect as of the Effective Date; (c) its complete and exact name is
PRO-DEX, INC.; (d) the organizational identification number, if any, assigned to it by its state of organization is 19941010033;
(e) its chief executive office and place of business is located at 2361 McGaw Avenue, Irvine, California 92614; and (f) during
the five (5) years preceding the date of this Loan and Security Agreement, it has not (i) been known by nor used any legal, fictitious
or trade name other than Fineline Molds, Huber Precision, Oregon Micro Systems, Inc., and OMS; (ii)&nbsp;changed its name in any
respect; (iii)&nbsp;been the surviving entity of a merger or consolidation; or (iv) acquired all or substantially all of the assets
of any person or entity, except that in 2014, Borrower acquired all or substantially all of the assets of Fineline Molds, a California
corporation, and all or substantially all of the assets of Hans Huber, an individual doing business as Huber Precision, related
to the Huber Precision business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Authorization</U>. Borrower represents and warrants that the execution, delivery, and performance by Borrower of the
Loan Documents has been duly authorized by all necessary action on the part of Borrower and are not inconsistent with Borrower&rsquo;s
Organizational Documents or any resolution of the Board of Directors of Borrower, do not and will not contravene any provision
of, or constitute a default under, any indenture, mortgage, contract, or other instrument to which Borrower is a party or by which
it is bound, and that upon execution and delivery thereof, the Loan Documents will constitute legal, valid, and binding agreements
and obligations of Borrower, enforceable in accordance with their respective terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Accuracy of Financial Statements</U>. Borrower represents and warrants that (a) all of its audited financial statements
heretofore delivered to Lender have been prepared in accordance with Accounting Standards; (b) all of its unaudited financial statements
heretofore delivered to Lender fully and fairly represent its financial condition as of the date thereof and the results of its
operations for the period or periods covered thereby and are consistent with other financial statements previously delivered to
Lender; (c) since the dates of the most recent audited and unaudited financial statements delivered to Lender, there has been no
event which would have a Material Adverse Effect on its financial condition; and (d) all of its pro forma financial statements
heretofore delivered to Lender have been prepared consistently with its actual financial statements and fully and fairly represent
its anticipated financial condition and the anticipated results of its operation for the period or periods covered thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Full and Accurate Disclosure</U>. Borrower represents and warrants that this Loan and Security Agreement, the financial
statements referred to herein, any loan application submitted to Lender, and all other statements furnished by Borrower to Lender
in connection herewith contain no untrue statement of a material fact and omit no material fact necessary to make the statements
contained therein or herein not misleading. Borrower represents and warrants that it has not failed to disclose in writing to Lender
any fact that would have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Compliance with Export Controls</U>. Borrower represents and warrants that it is not listed and does not appear on any
United States governmental restricted, debarred, suspended, or prohibited transaction export control designation lists and is able
to make and receive any advance or extension of credit from or otherwise conduct business in accordance with applicable export
control laws with Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Compliance with All Other Applicable Law</U>. Borrower represents and warrants that it has complied with all applicable
statutes, rules, regulations, orders, and restrictions of any domestic or foreign government, or any instrumentality or agency
thereof having jurisdiction over the conduct of Borrower&rsquo;s business or the ownership of its properties, which may have a
Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Operation of Business</U>. Borrower represents and warrants that Borrower possesses all licenses, permits, franchises,
patents, copyrights, trademarks, and trade names, or rights thereto, to conduct its business substantially as now conducted and
as presently proposed to be conducted, and Borrower is not in violation of any valid rights of others with respect to any of the
foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Payment of Taxes</U>. Borrower represents and warrants that Borrower has filed all tax returns (federal, state, and local)
required to be filed and has paid all taxes, assessments, and governmental charges and levies, including interest and penalties,
on Borrower&rsquo;s assets, business and income, except such as are being contested in good faith by proper proceedings and as
to which adequate reserves are maintained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">8.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Borrower&rsquo;s Covenants</U>. Borrower makes the following agreements and covenants, which shall continue so
long as this Loan and Security Agreement is in effect and so long as Borrower is indebted to Lender for obligations arising out
of, identified in, or contemplated by this Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Compliance with Export Controls</U>. Borrower will notify Lender in writing within ten (10) days of any written or oral
notification by any governmental entity that administrative, civil, or criminal proceedings have been initiated and that could
result in Borrower being listed or appearing on any United States governmental restricted, debarred, suspended, or prohibited transaction
export control designation lists. Borrower will immediately notify Lender in writing of any notification by any governmental entity
that Borrower has actually been listed or appears on any United States governmental restricted, debarred, suspended, or prohibited
transaction export control designation lists. Upon request from Lender, Borrower will provide documentary and other evidence of
Borrower&rsquo;s identity or to comply with any applicable law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Continued Compliance with Applicable Law</U>. Borrower shall conduct its business in a lawful manner and in material
compliance with all applicable federal, state, and local laws, ordinances, rules, regulations, and orders; shall maintain in good
standing all licenses and organizational or other qualifications reasonably necessary to its business and existence; and shall
not engage in any business not authorized by and not in accordance with its Organizational Documents and other governing documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Payment of Taxes and Obligations</U>. Borrower shall pay when due all taxes, assessments, and governmental charges and
levies on Borrower&rsquo;s assets, business, and income, and all material obligations of Borrower of whatever nature, except such
as are being contested in good faith by proper proceedings and as to which adequate reserves are maintained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Financial Statements and Reports; Audits</U>. Borrower shall provide Lender with such financial statements and reports
as Lender may reasonably request. Audited financial statements and reports shall be prepared in accordance with Accounting Standards.
Unaudited financial statements and reports shall fully and fairly represent Borrower&rsquo;s financial condition as of the date
thereof and the results of Borrower&rsquo;s operations for the period or periods covered thereby and shall be consistent with other
financial statements previously delivered to Lender. In addition, Borrower shall, at any reasonable time and from time to time,
permit Lender or any representative of Lender to conduct field audits, examine, audit, make copies of and extracts from the records
and books of Borrower, visit and inspect the properties and assets of Borrower, and to discuss the affairs, finances, and Accounts
of Borrower with any of Borrower&rsquo;s officers, directors, and partners with Borrower and with Borrower&rsquo;s independent
accountants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Inventory and Accounts Receivable</U>. Borrower shall promptly notify Lender in writing upon any Eligible Account ceasing
to be or being determined to have been incorrectly identified as an Eligible Account. Borrower shall provide Lender with such reports
and records concerning Inventory, Accounts, and accounts payable as Lender may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Operation of Business</U>. Borrower shall maintain all licenses, permits, franchises, patents, copyrights, trademarks,
and trade names, or rights thereto, necessary or advisable to conduct its business and Borrower shall not violate any valid rights
of others with respect to any of the foregoing. Borrower shall continue to engage in a business of the same general type as now
conducted. Borrower will not change its name, use any other legal, fictitious or trade name (other than Fineline Molds, Huber Precision,
Oregon Micro Systems, Inc., and OMS), merge or consolidate with any other business or entity, or acquire all or substantially all
of the assets of any person or entity without the prior written consent of Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Insurance</U>. Borrower shall maintain general liability and product liability insurance with financially sound and reputable
insurance companies or associations in such amounts and covering such risks as are usually carried by companies engaged in the
same or a similar business and similarly situated. Proceeds from such insurance shall be payable to Lender as its interest may
appear, shall name Lender as an additional insured and as a lender loss payee, and such policies shall provide for a minimum thirty
(30) days written cancellation notice to Lender. Upon request, policies or certificates attesting to such coverage shall be delivered
to Lender. Insurance proceeds may be applied by Lender toward payment of any obligation secured by this Loan and Security Agreement,
whether or not due, in such order of application as Lender may elect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Change of Control</U>. No Change of Control of Borrower or any Guarantor shall occur without Lender&rsquo;s prior written
consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;Change of Control&rdquo;
means (1) in the case of a corporation, any sale, assignment, or other transfer of more than twenty-five percent (25%) of the stock
of such corporation, the persons who are the directors of such corporation as of the Effective Date fail to constitute a majority
of the Board of Directors of such corporation, or the president or any other executive officer of such corporation resigns, is
terminated, or otherwise ceases to function in such position; (2) in the case of a partnership, any sale, assignment, or other
transfer of more than twenty-five percent (25%) of the partnership interests of such partnership, any of the persons or entities
who are a partner of such partnership as of the Effective Date ceases to be a partner of such partnership, the occurrence of any
Change of Control in any partner in such partnership, or any general manager or person holding a similar position in such partnership
resigns, is terminated, or otherwise ceases to function in such position, (3) in case of a limited partnership, (a) as to all general
partners, any general partner resigns, is terminated, or otherwise ceases to function in such position or the occurrence of any
Change of Control in any such general partner, (b) as to all limited partners, any sale, assignment, or other transfer of more
than twenty-five percent (25%) of the limited partnership interest in such limited partnership, any of the persons or entities
who are limited partners of such limited partnership as of the Effective Date ceases to be a limited partner in such limited partnership,
or the occurrence of any Change of Control in any such limited partner; (4) in the case of a limited liability company, any sale,
assignment, or other transfer of more than twenty-five percent (25%) of the ownership interests of such limited liability company,
any of the persons or entities who are members of such limited liability company as of the Effective Date ceases to be a member
of such limited liability company, any managing member or manager of such limited liability company resigns, is terminated or otherwise
ceases to function in such position, or the occurrence of any Change of Control in any such member, managing member or manager
of such limited liability company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">9.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Default</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Events of Default</U>. Time is of the essence of this Loan and Security Agreement. The occurrence of any of the following
events shall constitute a default under this Loan and Security Agreement and under the Loan Documents and shall be termed an &ldquo;Event
of Default&rdquo;:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower fails in the payment or performance of any obligation, covenant, agreement, or liability created by any of the
Loan Documents or Borrower otherwise fails to comply with, or any default occurs on, any term in any of the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any representation, warranty, or financial statement made by or on behalf of Borrower in any of the Loan Documents, or any
document contemplated by the Loan Documents, is materially false or materially misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any indebtedness of Borrower under any note, indenture, contract, agreement, or undertaking is accelerated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Default or an event which, with the passage of time or the giving of notice or both, would constitute a default, by Borrower,
occurs on any note, indenture, contract, agreement, licensing agreement, or undertaking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower is dissolved or substantially ceases business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>A receiver, trustee, or custodian is appointed for any part of Borrower&rsquo;s property, or any part of Borrower&rsquo;s
property is assigned for the benefit of creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any proceeding is commenced or petition filed under any bankruptcy or insolvency law by or against Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">h.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any judgment or regulatory fine is entered against Borrower which may have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;The attachment or filing of any Federal or State tax lien against Borrower or its assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">j.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All or any part of the property of Borrower is attached, levied upon, or otherwise seized by legal process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">k.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower becomes insolvent or fails to pay its debts as they mature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">l.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any change occurs in Borrower&rsquo;s condition or any event occurs which may have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">m.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any of the foregoing events occur concerning any Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">n.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any Guarantor dies or takes any action to repudiate its Guarantee or any Guarantee otherwise ceases to be in full force
and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No
Waiver of Event of Default</U>. No course of dealing or delay or failure to assert any Event of Default shall constitute a waiver
of that Event of Default or of any prior or subsequent Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">10.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>Remedies</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Remedies upon Event of Default</U>. Upon the occurrence of an Event of Default, and at any time thereafter, all or any
portion of the Loan and the other obligations due or to become due from Borrower to Lender, whether arising under this Loan and
Security Agreement, the Security Documents or otherwise, at the option of Lender and without notice to Borrower of the exercise
of such option, shall accelerate and become at once due and payable in full without presentment, demand, protest, or notice or
other requirements of any kind (all of which are expressly waived by Borrower), and interest shall thereafter accrue on the principal
amount of the Loan and on all other obligations owing by Borrower to Lender until paid in full, both before and after judgment,
at the Default Rate. In addition, Lender shall have the following rights and remedies, in addition to all other rights and remedies
existing at law, in equity, or by statute or provided in the Loan Documents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Lender shall have the right, immediately and without prior notice or demand, to set off against Borrower&rsquo;s obligations
to Lender, whether or not due, all money and other amounts owed by Lender in any capacity to Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If at any time Lender so requests, all collections and other proceeds from the Financial Obligations Collateral, if any,
shall be deposited into an account designated by Lender (the &ldquo;Cash Collateral Account&rdquo;), which account shall be under
the sole and exclusive control of Lender. Such proceeds and collections shall not be commingled with any other funds and shall
be promptly and directly deposited into such account in the form in which received by Borrower. Such proceeds and collections shall
not be deposited in any other account and said Cash Collateral Account shall contain no funds other than such proceeds and collections.
All or any portion of the funds on deposit in said Cash Collateral Account may, in the sole discretion of Lender, be applied from
time to time as Lender elects to payment of obligations secured by the Loan and Security Agreement or Lender may elect to turn
over to Borrower, from time to time, all or any portion of such funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Upon an Event of Default, Lender may terminate the authority of Borrower to collect Financial Obligations Collateral at
any time whereupon Lender is authorized, without further act, to notify any and all obligors to make payment thereon directly to
Lender, and to take possession of all proceeds from the Financial Obligations Collateral, and to take any action which Borrower
might or could take to collect the Financial Obligations Collateral, including, without limitation, the right to make any compromise,
discharge, or extension. Upon request of Lender after an Event of Default, Borrower agrees to execute and deliver to Lender a notice
to the obligors instructing said obligors to pay Lender. Borrower further agrees to execute and deliver to Lender, after an Event
of Default, all other notices and similar documents requested by Lender to facilitate collection of the Financial Obligations Collateral.
All costs of collection of the Financial Obligations Collateral, if any, including, without limitation, attorneys&rsquo; fees and
legal expenses, shall be borne solely by Borrower, whether such costs are incurred by or for Borrower or Lender. Borrower agrees
to deliver to Lender, if so requested, all books, records, and documents in Borrower&rsquo;s possession or under its control as
may relate to the Financial Obligations Collateral or as may be helpful to facilitate such collection. Lender shall have no obligation
to cause an attorney&rsquo;s demand letter to be sent, to file any lawsuit, or to take any other legal action in collection of
the Financial Obligations Collateral. It is agreed that collection of the Financial Obligations Collateral in a commercially reasonable
manner does not require that any such legal action be taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Borrower does hereby make, constitute, and appoint Lender and its designees as Borrower&rsquo;s true and lawful attorney
in fact, with full power of substitution, such power to be exercised only upon an Event of Default and in the following manner:
(i) Lender may receive and open all mail addressed to Borrower and remove therefrom any payments of the Financial Obligations Collateral,
if any; (ii) Lender may cause mail relating to the Accounts and Financial Obligations Collateral to be delivered to a designated
address of Lender where Lender may open all such mail and remove therefrom any payments of the Accounts and Financial Obligations
Collateral; (iii)&nbsp;Lender may endorse Borrower&rsquo;s name upon notes, checks, acceptances, drafts, money orders, or other
forms of payment of the Financial Obligations Collateral; (iv)&nbsp;Lender may settle or adjust disputes or claims in respect to
the Financial Obligations Collateral for amounts and upon such terms as Lender, in its sole discretion and in good faith, deems
to be advisable, in such case crediting Borrower with only the proceeds received and collected by Lender after deduction of Lender&rsquo;s
costs, including, without limitation, reasonable attorneys&rsquo; fees and legal expenses; and (v) Lender may do any and all other
things necessary or proper to carry out the intent of this Loan and Security Agreement and to perfect and protect the liens and
rights of Lender created under this Loan and Security Agreement. This power of attorney is irrevocable and coupled with an interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Lender shall have all the rights and remedies available under the UCC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Lender shall have the right to enter upon any premises where the Collateral or records relating thereto may be and take
possession of the Collateral and such records.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Upon request of Lender, Borrower shall, at the expense of Borrower, assemble the Collateral and records relating thereto
at a place designated by Lender and tender the Collateral and such records to Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">h.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Without notice to Borrower, Lender may obtain the appointment of a receiver of the business, property and assets of Borrower
and Borrower hereby consents to the appointment of Lender or such person as Lender may designate as such receiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;Lender may sell, lease or otherwise dispose of any or all of the Collateral and, after deducting the Liquidation Costs,
apply the remainder to pay, or to hold as a reserve against, the obligations secured by this Loan and Security Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">j.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Lender may credit bid at any UCC, bankruptcy, trustee or other sale, including, without limitation, any sale under Section
363 of the United States Bankruptcy Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.92in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower shall be liable
for all deficiencies owing on any obligations secured by this Loan and Security Agreement after liquidation of the Collateral.
Lender shall not have any obligation to clean-up or otherwise prepare any Collateral for sale, lease, or other disposition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Rights and Remedies Cumulative</U>. The rights and remedies herein conferred are cumulative and not exclusive of any
other rights and remedies and shall be in addition to every other right, power and remedy herein specifically granted or hereafter
existing at law, in equity, or by statute which Lender might otherwise have, and any and all such rights and remedies may be exercised
from time to time and as often and in such order as Lender may deem expedient.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No Waiver of Rights</U>. No delay or omission in the exercise of any right, power or remedy or in the pursuance of any
remedy shall impair any right, power or remedy or be construed to be a waiver thereof or of any default or to be an acquiescence
therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">11.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><U>General Provisions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Governing Agreement</U>. In the event of conflict or inconsistency between this Loan and Security Agreement and the other
Loan Documents, the terms, provisions and intent of this Loan and Security Agreement shall govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Borrower&rsquo;s Obligations Cumulative</U>. Every obligation, covenant, condition, provision, warranty, agreement, liability,
and undertaking of Borrower contained in the Loan Documents shall be deemed cumulative and not in derogation or substitution of
any of the other obligations, covenants, conditions, provisions, warranties, agreements, liabilities, or undertakings of Borrower
contained herein or therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Payment of Expenses and Attorneys&rsquo; Fees</U>. Borrower shall pay all reasonable expenses of Lender relating to the
negotiation, drafting of documents, documentation of the Loan, and administration and supervision of the Loan, including, without
limitation, appraisal fees, environmental inspection fees, field examination expenses, title insurance, recording fees, filing
fees, and reasonable attorneys&rsquo; fees and legal expenses, whether incurred in making the Loan, in future amendments or modifications
to the Loan Documents, or in ongoing administration and supervision of the Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon occurrence of
an Event of Default, Borrower agrees to pay all costs and expenses, including, without limitation, reasonable attorneys&rsquo;
fees and legal expenses, incurred by Lender in enforcing, or exercising any remedies under, the Loan Documents, and any other rights
and remedies. Additionally, Borrower agrees to pay all Liquidation Costs. Any and all such costs, expenses, and Liquidation Costs
shall be payable by Borrower upon demand, together with interest thereon from the date of the advance until repaid, both before
and after judgment, at the Default Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower agrees to
pay all expenses, including, without limitation, reasonable attorneys&rsquo; fees and legal expenses, incurred by Lender in any
bankruptcy proceedings of any type involving Borrower, Guarantor, the Loan Documents, or the Collateral, including, without limitation,
expenses incurred in modifying or lifting the automatic stay, determining adequate protection, use of cash collateral or relating
to any plan of reorganization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Right to Perform for Borrower</U>. Lender may, in its sole discretion and without any duty to do so, elect to discharge
taxes, tax liens, security interests, or any other encumbrance upon the Collateral or any other property or asset of Borrower,
to pay any filing, recording, or other charges payable by Borrower, or to perform any other obligation of Borrower under this Loan
and Security Agreement or under the Security Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Assignability</U>. Borrower may not assign or transfer any of the Loan Documents and any such purported assignment or
transfer is void. Lender may assign or transfer any of the Loan Documents. Funding of this Loan may be provided by an affiliate
of Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Third Party Beneficiaries</U>. The Loan Documents are made for the sole and exclusive benefit of Borrower and Lender
and are not intended to benefit any other third party. No third party may claim any right or benefit or seek to enforce any term
or provision of the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Governing Law</U>. The Loan Documents shall be governed by and construed in accordance with the laws of the State of
Utah without regard to its conflict of laws principles, and the Loan Documents shall be deemed to have been executed by the parties
in the State of Utah. The Loan Documents shall not be deemed to have been entered into until accepted by Lender at its chief executive
office in Salt Lake City, Utah, and shall be performed by Lender, and the Loan administered by Lender, in Salt Lake City, Utah.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Severability of Invalid Provisions</U>. Any provision of this Loan and Security Agreement which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction only, be ineffective only to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof or thereof, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Interpretation of Loan and Security Agreement</U>. The article and section headings in this Loan and Security Agreement
are inserted for convenience only and shall not be considered part of the Loan and Security Agreement nor be used in its interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All references in this
Loan and Security Agreement to the singular shall be deemed to include the plural when the context so requires, and vice versa.
References in the collective or conjunctive shall also include the disjunctive unless the context otherwise clearly requires a
different interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Survival and Binding Effect of Representations, Warranties, and Covenants</U>. All agreements, representations, warranties,
and covenants made herein by Borrower shall survive the execution and delivery of this Loan and Security Agreement and shall continue
in effect so long as any obligation to Lender contemplated by this Loan and Security Agreement is outstanding and unpaid, notwithstanding
any termination of this Loan and Security Agreement. All agreements, representations, warranties, and covenants made herein by
Borrower shall survive any bankruptcy proceedings involving Borrower. All agreements, representations, warranties, and covenants
in this Loan and Security Agreement shall bind the party making the same, its successors and, in Lender&rsquo;s case, assigns,
and all rights and remedies in this Loan and Security Agreement shall inure to the benefit of and be enforceable by each party
for whom made, their respective successors and, in Lender&rsquo;s case, assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Indemnification</U>. Borrower shall indemnify Lender for any and all claims and liabilities, and for damages which may
be awarded or incurred by Lender, and for all reasonable attorneys&rsquo; fees, legal expenses, and other out-of-pocket expenses
incurred in defending such claims, arising from or related in any manner to the negotiation, execution, or performance by Lender
of any of the Loan Documents, but excluding any such claims based upon breach or default by Lender or gross negligence or willful
misconduct of Lender. Lender shall have the sole and complete control of the defense of any such claims. Lender is hereby authorized
to settle or otherwise compromise any such claims as Lender in good faith determines shall be in its best interests. The obligations
of Borrower and the rights of Lender under this Section will survive payment and performance of all obligations owing under the
Loan Documents and will remain in full force and effect without termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Interest on Expenses and Indemnification, Collateral, Order of Application</U>. All expenses, out-of-pocket costs, attorneys&rsquo;
fees and legal expenses, amounts advanced in performance of obligations of Borrower, and indemnification amounts owing by Borrower
to Lender under or pursuant to this Loan and Security Agreement, and/or any Security Documents shall be due and payable upon demand.
If not paid upon demand, all such obligations shall bear interest at the Default Rate from the date of disbursement until paid
to Lender, both before and after judgment. Lender is authorized and directed to disburse a sufficient amount of the Loan as necessary
for payment of all such obligations and for any other obligations owing by Borrower to Lender under the Loan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Documents or otherwise.
Payment of all such obligations shall be secured by the Collateral and by the Security Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All payments and recoveries
received by Lender under the Loan Documents shall be applied to payment of the foregoing obligations, the Loan, and all other amounts
owing to Lender by Borrower in such order and priority as determined by Lender. Unless otherwise elected by Lender, payments on
the Loan shall be applied first to accrued interest and the remainder, if any, to principal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.13<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Limitation of Consequential Damages</U>. Lender and its officers, directors, employees, representatives, agents, and
attorneys, shall not be liable to Borrower or any Guarantor for consequential damages arising from or relating to any breach of
contract, tort, or other wrong in connection with the negotiation, documentation, administration or collection of the Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.14<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Revival Clause</U>. If the incurring of any debt by Borrower or the payment of any money or transfer of property to Lender
by or on behalf of Borrower or Guarantor should for any reason subsequently be determined to be &ldquo;voidable&rdquo; or &ldquo;avoidable&rdquo;
in whole or in part within the meaning of any state or federal law (collectively &ldquo;voidable transfers&rdquo;), including,
without limitation, fraudulent conveyances or preferential transfers under the United States Bankruptcy Code or any other federal
or state law, and Lender is required to repay or restore any voidable transfers or the amount or any portion thereof, or upon the
advice of Lender&rsquo;s counsel is advised to do so, then, as to any such amount or property repaid or restored, including, without
limitation, all reasonable costs, expenses, and attorneys&rsquo; fees of Lender related thereto, the liability of Borrower and
Guarantor, and each of them, shall automatically be revived, reinstated and restored and shall exist as though the voidable transfers
had never been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.15<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Consent to Utah Jurisdiction, Exclusive Jurisdiction of Utah Courts, and Jury Waiver</U>. Borrower acknowledges that
by execution and delivery of the Loan Documents, Borrower has transacted business in the State of Utah, and Borrower voluntarily
submits to, consents to, and waives any defense to the jurisdiction of courts located in the State of Utah as to all matters relating
to or arising from the Loan Documents and/or the transactions contemplated thereby. EXCEPT AS EXPRESSLY AGREED IN WRITING BY LENDER,
THE STATE AND FEDERAL COURTS LOCATED IN THE STATE OF UTAH SHALL HAVE SOLE AND EXCLUSIVE JURISDICTION OF ANY AND ALL CLAIMS, DISPUTES,
AND CONTROVERSIES, ARISING UNDER OR RELATING TO THE LOAN DOCUMENTS AND/OR THE TRANSACTIONS CONTEMPLATED THEREBY. NO LAWSUIT, PROCEEDING,
OR ANY OTHER ACTION RELATING TO OR ARISING UNDER THE LOAN DOCUMENTS AND/OR THE TRANSACTIONS CONTEMPLATED THEREBY MAY BE COMMENCED
OR PROSECUTED IN ANY OTHER FORUM EXCEPT AS EXPRESSLY AGREED IN WRITING BY LENDER.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">BORROWER HEREBY IRREVOCABLY
WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR IN TORT AT LAW OR IN
EQUITY, ARISING OUT OF OR IN ANY WAY RELATED TO THE LOAN DOCUMENTS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.16<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Joint and Several Liability</U>. Borrower shall be jointly and severally liable with each Guarantor for all obligations
and liabilities arising under the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.17<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Notices</U>. All notices or demands by any party to this Loan and Security Agreement shall, except as otherwise provided
herein, be in writing and may be sent by certified mail, return receipt requested. Notices so mailed shall be deemed received when
deposited in a United States post office box, postage prepaid, properly addressed to Borrower or Lender at the mailing addresses
stated herein or to such other addresses as Borrower or Lender may from time to time specify in writing. Any notice so addressed
and otherwise delivered shall be deemed to be given when actually received by the addressee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Mailing addresses:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Lender:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;SUMMIT FINANCIAL RESOURCES,
L.P.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;2455 East Parleys Way,
Suite 200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;Salt Lake City, Utah
84109&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;Attention: Senior Portfolio
Manager&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Borrower:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;PRO-DEX, INC.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;2361 McGaw Avenue&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;Irvine, California 92614&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.90in; text-align: justify">&nbsp;Attention: Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.18<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Duplicate Originals; Counterpart Execution</U>. Two or more duplicate originals of the Loan Documents may be signed by
the parties, each duplicate of which shall be an original but all of which together shall constitute one and the same instrument.
Any Loan Documents may be executed in several counterparts, without the requirement that all parties sign each counterpart. Each
of such counterparts shall be an original, but all counterparts together shall constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.19<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Disclosure of Financial and Other Information</U>. Borrower hereby consents to Lender disclosing to any other lender
who may participate in the Loan, to any financial institution or investor providing financing or capital for Lender, or to any
other third party that executes a confidentiality agreement acceptable to Lender, any and all information, knowledge, reports,
and records, including, without limitation, financial statements, relating in any manner whatsoever to the Loan and Borrower. In
addition, Borrower hereby authorizes and directs Lender to report or otherwise disclose to any credit reporting agency or other
similar agency or entity any payment history, defaults, aging reports, and other financial and credit information regarding Borrower,
the Loan, all Accounts, and all Account Debtors. Borrower acknowledges that such disclosures and reporting may be subject to the
Fair Credit Reporting Act (FCRA), 15 U.S.C. &sect; 1681 et seq., or other Federal or State laws and hereby voluntarily authorizes
such disclosures. Borrower releases Lender and its employees, officers, directors, members, partners, and agents from any and all
liability for furnishing such information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.20<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Identity Verification Notification</U>. Lender hereby notifies Borrower that pursuant to the requirements of the applicable
United States and other laws and regulations, Lender may be required to obtain, verify, and record information that identifies
Borrower, which information includes the name and address of Borrower and other information that will allow Lender to identify
Borrower in accordance with the applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.21<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Integrated Agreement and Subsequent Amendment</U>. The Loan Documents constitute the entire agreement between Lender
and Borrower, and may not be altered or amended except by written agreement signed by Lender and Borrower. BORROWER ACKNOWLEDGES
AND AGREES THAT THE LOAN DOCUMENTS ARE A FINAL EXPRESSION OF THE AGREEMENTS BETWEEN LENDER AND BORROWER AND MAY NOT BE CONTRADICTED
BY EVIDENCE OF ALLEGED ORAL AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All prior and contemporaneous
agreements, arrangements, understandings, or representations, oral, written, express, or implied, between the parties hereto as
to the subject matter hereof are, except as otherwise expressly provided herein, rescinded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of Page Intentionally Left Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Effective Date: September 9,
2015.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Lender:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">SUMMIT FINANCIAL RESOURCES, L.P., a Hawaii limited partnership</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2px solid"><IMG SRC="rhf150667001_v1.jpg" ALT="-s- James Baugh"></TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">Name:&nbsp;</TD>
    <TD STYLE="width: 46%; border-bottom: Black 2px solid">James Baugh</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">Title:&nbsp;</TD>
    <TD STYLE="width: 47%; border-bottom: Black 2px solid">VP &ndash; NUM</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Borrower:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">PRO-DEX, INC., a Colorado
corporation</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2px solid"><IMG SRC="rhf150667002_v1.jpg" ALT="-s- Rick Van Kirk">&nbsp;</TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">Name:&nbsp;</TD>
    <TD STYLE="width: 46%">Rick Van Kirk</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">Title:&nbsp;</TD>
    <TD STYLE="width: 47%">Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10-2.htm
<DESCRIPTION>INTERCREDITOR AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Intercreditor
Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Intercreditor
Agreement is made and entered into between Summit Financial Resources, L.P., a Hawaii limited partnership (&ldquo;Summit&rdquo;),
and Fineline Molds, a California corporation (&ldquo;Lender&rdquo;), and is acknowledged and consented to by Pro-Dex, Inc., a Colorado
corporation (&ldquo;Borrower&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>RECITALS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Summit is entering into a loan and security agreement with Borrower wherein Summit has agreed to provide certain financing
based, in part, upon Borrower&rsquo;s accounts receivable (the &ldquo;Summit Financing&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Lender is currently providing certain financing to Borrower (the &ldquo;Lender Financing&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Summit and Lender desire to enter into this Intercreditor Agreement in order to (i)&nbsp;agree to and confirm the relative
rights and payment of their respective indebtedness and (ii)&nbsp;agree to certain other rights, priorities, and interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Summit and Lender hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Definitions</U>. Terms used in the singular shall have the same meaning when used in the plural and vice versa. In addition
to the terms defined above, as used herein, the term:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;Account&rdquo; means a right to payment of a monetary obligation, whether or not earned by performance: (i) for property
that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of; (ii) for services rendered or to be rendered;
(iii) for a policy of insurance issued or to be issued; (iv) for a secondary obligation incurred or to be incurred; (v)&nbsp;for
energy provided or to be provided; (vi) for the use or hire of a vessel under a charter or other contract; (vii) arising out of
the use of a credit or charge card or information contained on or for use with the card; or (viii) as winnings in a lottery or
other game of chance operated or sponsored by a state, governmental unit of a state, or person licensed or authorized to operate
the game by a state or governmental unit of a state. The definition of &ldquo;Account&rdquo; shall include health-care receivables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;Default Rights and Remedies&rdquo; means any and all rights and remedies granted in, arising from, or relating to
any agreement, instrument, or document and any and all rights and remedies now or hereafter existing by statute, at law, or in
equity, which may be exercised only upon the occurrence of a breach or event of default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;Encumbrance&rdquo; means any and all security interests, liens, mortgages, deeds of trust, assignments, and any other
right, title or interest in, to, or on any property of Borrower and/or any guarantor (whether obtained by agreement or by judicial
process), including real property, personal property, intellectual property, and intangible property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;Inventory&rdquo; means goods, other than farm products, which (i) are leased by a person as lessor, (ii) are held
by a person for sale or lease or to be furnished under a contract of service, (iii) are furnished by a person under a contract
of service, or (iv) consist of raw materials, work in process, or materials used or consumed in a business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;Summit Collateral&rdquo; means, for purposes of this Intercreditor Agreement, the following personal property of
Borrower, wherever located, now owned or existing or hereafter acquired or created, and all additions and accessions thereto, all
replacements, insurance or condemnation proceeds, all documents covering any of such collateral, and all products and proceeds
thereof: all Inventory, all Accounts, and all balances, deposits, debts, or any other amount of obligations of Summit owing to
Borrower, including, without limitation, any reserve, whether or not due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Consent to Loans</U>. Lender hereby consents to Borrower entering into the agreements evidencing the Summit Financing.
Lender waives any provision in any agreement between Lender and Borrower which prohibits, restricts, or limits the right of Borrower
to enter into the agreements evidencing the Summit Financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Priority of Encumbrances</U>. Irrespective of the time, order, manner, or method of creation, attachment or perfection
of the Encumbrances granted to Summit or Lender, the time, place or manner of the filing of their respective financing statements
or other method of perfection, the time, place or manner of recording of any instrument, whether Summit or Lender or any bailee
or agent thereof holds possession of any or all of the property or assets of Borrower, the dating, execution or delivery of any
agreement, documents or instrument granting Summit or Lender the Encumbrance, the giving or failure to give notice of the acquisition
or expected acquisition of any purchase money security interest or other Encumbrance, and any provision of the Uniform Commercial
Code or any other applicable statute or common law to the contrary:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any and all Encumbrances
in favor of Summit in or on any Summit Collateral, now existing or hereafter created, shall have priority over any and all Encumbrances
in favor of Lender in or on any Summit Collateral, now existing or hereafter created. Lender hereby subordinates any and all Encumbrances
in favor of Lender in or on any Summit Collateral, now existing or hereafter created, to any and all Encumbrances in favor of Summit
in or on any Summit Collateral, now existing or hereafter created. In the event Lender receives any payments constituting Summit
Collateral, Lender shall forward such payments to Summit within five (5) business days after receipt of the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Exercise of Default Rights and Remedies</U>. Lender agrees that it will not exercise any Default Rights and Remedies
concerning the Lender Financing without first giving Summit at least ninety (90) days written notice of the default on the Lender
Financing, which notice shall specify the nature and terms of the default on the Lender Financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No Waiver of Other Rights</U>. This Intercreditor Agreement is intended solely for the purpose of defining the relative
rights of Summit and Lender and nothing contained herein is intended to nor shall impair the obligations of Borrower, any guarantor,
or any other obligors, to pay Summit or Lender, as the case may be, the principal and interest on the Summit Financing and the
Lender Financing as and when the same shall become due and payable in accordance with their terms, subject to the rights of Summit
created by this Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Nonavoidability and Perfection</U>. The subordinations and priorities provided herein are applicable regardless of whether
the Encumbrance to which another Encumbrance is subordinated is perfected or is voidable for any reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Non-Reliance, Duty to Notify</U>. Summit and Lender each expressly acknowledge that, except as expressly provided in
this Intercreditor Agreement, neither they nor any of their officers, directors, partners, employees, representatives, agents,
attorneys, or affiliates, has made any representations or warranties to each other and that no act by Summit or Lender hereafter
taken, including any review of the affairs of Borrower, shall be deemed to constitute any representation or warranty by Summit
or Lender. Summit and Lender each represent that they have, independently and without reliance upon the other and based on such
documents and information as each has deemed appropriate, made its own appraisal of and investigation into the business, operations,
property, financial, and other condition and creditworthiness of Borrower and made its own decision to enter into this Intercreditor
Agreement. Summit and Lender each also represent that it will, independently and without reliance upon the other and based on the
documents and information as each shall deem appropriate at the time, continue to make its own credit analysis, appraisals, and
decisions in taking or not taking action under this Intercreditor Agreement, and in regard to the Summit Financing and the Lender
Financing, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial,
and other condition and creditworthiness of Borrower. Neither Summit nor Lender shall have any duty or responsibility to provide
the other with any credit or other information concerning the business, operations, property, financial, and other condition or
creditworthiness of Borrower that may come into their possession.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as otherwise
provided herein, neither Summit nor Lender shall have any duty or obligation to notify the other of any event of default or breach
on the Summit Financing or the Lender Financing nor of any material adverse change affecting the Summit Financing, the Lender Financing,
Borrower, any guarantor, or any other</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">obligor. Summit and Lender will attempt to notify each other of the occurrence of an event
of default under the Summit Financing or the Lender Financing but, except as otherwise provided in Section 4 above, failure to
do so shall not constitute a breach or default under this Intercreditor Agreement and no liability shall result from failure to
provide such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Notices</U>. All notices hereunder shall be in writing and may be sent by certified mail, return receipt requested. Notices
so mailed shall be deemed received when deposited in a United States post office box, postage prepaid, properly addressed to Summit
or Lender at the mailing address stated herein or to such other address as Summit or Lender may from time to time specify in writing.
Any notice so addressed and otherwise delivered shall be deemed given when actually received by the addressee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mailing Addresses:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Summit:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Summit Financial Resources, L.P.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2455 East Parleys Way,
Suite 200&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Salt Lake City, Utah
84109&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attention: Senior Portfolio
Manager</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Lender:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Fineline Molds&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">210 West Arrow Highway,
Suite C&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">San Dimas, California
91773&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Attention: President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Indemnification</U>. Borrower shall indemnify Summit and Lender for any and all claims and liabilities, and for damages
which may be awarded against or incurred by Summit and/or Lender, and for all reasonable attorneys fees, legal expenses, and other
out-of-pocket expenses incurred in defending such claims, arising from or related in any manner to the negotiation, execution,
or performance by Summit and/or Lender of this Intercreditor Agreement or any of the agreements, documents, obligations, or transactions
contemplated by this Intercreditor Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Summit and Lender shall
have the sole and complete control of the defense of any such claim involving Summit and Lender respectively. Summit and Lender
are hereby authorized to settle or otherwise compromise any such claims as Summit or Lender in good faith determines shall be in
its best interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Binding Effect</U>. This Intercreditor Agreement shall apply to and govern all renewals, amendments, restatements, and
replacements of any and all agreements, instruments, and documents evidencing or relating to the Summit Financing and the Lender
Financing, including any which increase the amount of the financing or loan, increase the interest rate thereon, and/or extend
or modify the payment terms. In addition, this Intercreditor Agreement is binding upon and inures to the benefit of the successors
and assigns of all parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>No Agency or Joint Venture</U>. Nothing in this Intercreditor Agreement shall be construed to create any agency relationship
between Summit and Lender. Neither Summit nor Lender shall have any authority to act for or bind the other. Nothing in this Intercreditor
Agreement shall be construed to create any joint venture, partnership, or fiduciary relationship between Summit and Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Attorneys Fees in the Event of Default</U>. Upon the occurrence of an event of default or breach hereunder, the non-defaulting
party shall be entitled to recover reasonable attorneys fees and legal expenses incurred as a result of such default or breach
and in exercising any rights and remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Jury Waiver</U>. THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM
OR COUNTERCLAIM, WHETHER IN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">CONTRACT OR IN TORT, AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATED TO THIS INTERCREDITOR
AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Severability of Invalid Provisions</U>. Any provision of this Intercreditor Agreement which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction only, be ineffective only to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Warranty of Signing Representative</U>. The representative signing this Intercreditor Agreement on behalf of Summit and
Lender each represents and warrants that he or she has been duly authorized to execute and deliver this Intercreditor Agreement
and that upon execution and delivery hereof by all parties hereto, this Intercreditor Agreement will be binding and enforceable
in accordance with its terms against such party for whom such representative has signed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Duplicate Originals; Delivery</U>. Two or more duplicate originals of this Intercreditor Agreement may be signed by the
parties, each duplicate of which shall be an original but all of which together shall constitute one and the same agreement. Facsimile
or other electronic transmission of any signed original document, including retransmission of any signed facsimile or other electronic
transmission, shall be the same as delivery of an original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Integrated Agreement and Subsequent Amendment</U>. This Intercreditor Agreement constitutes the entire agreement between
Summit and Lender and may not be altered or amended except by written agreement signed by Summit and Lender. All other prior and
contemporaneous agreements, arrangements, and understandings, oral, written, express, or implied, between the parties hereto as
to the subject matter hereof are rescinded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Dated: September 9, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Summit Financial Resources, L.P.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">By:</TD>
    <TD STYLE="border-bottom: Black 2px solid; text-align: left"><IMG SRC="rhf150667003_v1.jpg" ALT="-s- James Baugh"></TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">Name:&nbsp;</TD>
    <TD STYLE="width: 46%; border-bottom: Black 2px solid">James Baugh</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">Title:&nbsp;</TD>
    <TD STYLE="width: 47%; border-bottom: Black 2px solid">VP&ndash; NUM</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Fineline Molds</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">By:</TD>
    <TD STYLE="border-bottom: Black 2px solid">&nbsp;<IMG SRC="rhf150667005_v1.jpg" ALT="-s- Bruce Kent"></TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">Name:&nbsp;</TD>
    <TD STYLE="width: 46%; border-bottom: Black 2px solid">Bruce Kent</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">Title:&nbsp;</TD>
    <TD STYLE="width: 47%; border-bottom: Black 2px solid">President</TD></TR>
</TABLE>








<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Acknowledged and consented to as of September 9, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pro-Dex, Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: left; vertical-align: bottom">By:</TD>
    <TD STYLE="border-bottom: Black 2px solid"><IMG SRC="rhf150667004_v1.jpg" ALT="-s- Rick Van Kirk">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 4%">Name:&nbsp;</TD>
    <TD STYLE="width: 46%">Rick Van Kirk</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 3%">Title:&nbsp;</TD>
    <TD STYLE="width: 47%">Chief Executive Officer</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10-3.htm
<DESCRIPTION>PROMISSORY NOTE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROMISSORY NOTE&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$500,000.00</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">Due: March 1, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">Note # _____________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">DATED:</TD>
    <TD STYLE="width: 85%">September 8, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>PLACE:</TD>
    <TD>Ramsey, Minnesota</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>BORROWER:</TD>
    <TD>Pro-Dex Sunfish Lake, LLC, a Delaware limited liability company</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">FOR VALUE RECEIVED,
the undersigned <B>Pro-Dex Sunfish Lake, LLC, a Delaware limited liability company</B> (&ldquo;Borrower&rdquo;), promises to pay
to the order of <B>Fortitude Income Fund, LLC, a Delaware limited liability company</B> (&ldquo;Lender&rdquo;), the principal
sum of <B>Five Hundred Thousand and 00/100 Dollars ($500,000.00)</B>, together with interest on the unpaid principal balance thereof,
outstanding from time to time, in the manner set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>INTEREST</U>.
Commencing from the date hereof, the rate of interest which shall accrue and be paid on the aggregate amount advanced on this
Note, which from time to time remains unpaid, shall be a fixed interest rate equal to twelve percent (12.00%) per annum. Interest
shall be calculated on the principal balance outstanding at the end of each day and on the basis of a year of three hundred sixty-five
(365) days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0.25in; text-indent: 0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>PAYMENTS</U>.
Time, Place and Amount of Payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in; text-align: justify">a.<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I><B>Interest
Only Payments.</B> Interest only payments shall commence on the first day of the first month after any advance of principal under
this Note and on the first day of each and every month thereafter, until <B>March 15, 2016,</B> when, at such time, the entire
outstanding principal balance, all accrued interest, and all others sums due hereunder shall be fully due and payable. Interest
only payments shall be in an amount sufficient to pay in full all accrued interest with respect to the principal amount of this
Note outstanding during the immediately preceding month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in; text-align: justify">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Application
of Payments.</B> All payments shall be credited first to late fees and penalties, interest, and then to principal, except that
if any advance made by the Lender under the terms of any instruments securing this Note is not repaid, any monies received, at
the option of the Lender, may first be applied to repay such advances, plus interest thereon, and the balance, if any, shall be
applied as set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in; text-align: justify">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Place
of Payments.</B> All payments to the Lender will be made at North Loop Capital, FBO Fortitude Income Fund, 701 Washington Ave
N, Suite 550, Minneapolis, MN 55401, or at such other location as requested by the Lender in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in; text-align: justify"><B>d.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Right
to Extend.</B> Borrower has the right to extend the entire principal balance, after having given at least one month prior notice,
for three months time at a fixed interest rate equal to <B>twelve percent (12.00%) per annum and 0.75% points</B> <B>paid upfront
points</B> on the balance extended. Interest only payments shall commence on the first day of the first month after any advance
of principal under this Note and on the first day of each and every month thereafter, until <B>June 15, 2016,</B> when, at such
time, the entire outstanding principal balance, all accrued interest, and all others sums due hereunder shall be fully due and
payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in; text-align: justify"><B>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Second
Right to Extend.</B> Borrower has the right to extend the entire principal balance, after having given at least one month prior
notice, for three months time at a fixed interest rate equal to <B>twelve percent (12.00%) per annum and 0.75% points paid upfront
points</B> on the balance extended. Interest only payments shall commence on the first day of the first month after any advance
of principal under this Note and on the first day of each and every month thereafter, until <B>September 15, 2016,</B> when, at
such time, the entire outstanding principal balance, all accrued interest, and all others sums due hereunder shall be fully due
and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>SECURITY</U>.
Payment of this Note is secured by a Combination Mortgage, Security Agreement and Fixture Financing Statement (&ldquo;Mortgage&rdquo;)
covering, in part, real property located in Anoka County, Minnesota, and an Assignment of Leases and Rents (&ldquo;Assignment&rdquo;)
executed in favor of Lender of an even date herewith. This Note, Mortgage and Assignment may collectively be referred to hereafter
as the &ldquo;Loan Documents&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>LATE
CHARGES</U>. Borrower shall pay to the Lender a late charge of four percent (4%) of any monthly installment not received by the
Lender within ten (10) days after the installment is due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>PREPAYMENT
PENALTY</U>. In the event Borrower prepays all or any portion of this Note, or the Loan evidenced hereby, except scheduled monthly
interest payments, on or before January 1, 2016, Borrower shall pay to Lender a prepayment fee of two percent (2.00%) of the principal
amount prepaid on the Note. Any such prepayment of principal shall be applied first to accrued interest and any other sums due
hereunder and shall not affect or suspend the remaining installments of principal and interest due pursuant to this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>DEFAULT</U>. If Borrower fails to pay any amount due hereunder, within five (5) days of its due date, or if a default or an event of default
occurs under any of the Loan Documents, and any applicable cure period has expired, then, in any such event, the entire unpaid
principal balance hereof, together with accrued interest thereon and any other sums due hereunder, shall become immediately due
and payable at the option of Lender, time being of the essence of this Note. The terms and provisions of the Loan Documents are
incorporated herein by reference as if set forth therein in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>DEFAULT
INTEREST RATE</U></B>. Upon an Event of Default (as hereinafter defined), the interest rate payable hereunder shall thereafter
increase and shall be payable on the whole of the unpaid principal balance at a rate equal to the lesser of (i) four percent (4%)
per annum</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">in excess of the rate of interest then in effect under the terms
of this Note or (ii) the highest rate of interest permitted under the laws of the State of Minnesota (hereinafter referred to as
the &ldquo;Default Rate&rdquo;). Interest on this Note at the Default Rate shall be immediately due and payable without notice
or demand. The Default Rate shall be applicable whether or not Lender has exercised its option to accelerate the maturity of this
Note and declare the entire unpaid principal indebtedness to be due and payable. The Default Rate shall continue until Borrower
has cured all Events of Default as permitted herein, Borrower has paid all indebtedness evidenced by this Note in full, or all
foreclosure proceedings have been completed and all redemption periods have expired, whichever shall occur first. This provision
shall not be deemed to excuse a default and shall not be deemed a waiver of any other rights Lender may have, including the right
to declare the entire unpaid principal balance and accrued interest immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>GENERAL TERMS</U>. The Borrower hereby agrees to pay on
demand all costs of collection, including reasonable attorney&rsquo;s fees and legal expense, in the event this Note is not paid
when due, whether or not legal proceedings are commenced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">This
Note is issued in and shall be governed by the laws of the State of Minnesota. All payments made under the provisions of this
Note which may be construed as interest shall not, in the aggregate over the term hereof, exceed the rate that may now be lawfully
contracted for in writing in the State of Minnesota.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">No delay on the part of the holder in exercising any right or
remedy hereunder shall operate as a waiver of or preclude the exercise of such right or remedy or of any other remedy under this
Note. No waiver by the holder hereof shall be effective unless in writing signed by such holder. A waiver on any one occasion shall
not be construed as a waiver of any such right or remedy on a future occasion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">This Note may not be amended, modified, discharged or changed,
except only by an instrument in writing and signed by the party against whom enforcement of any amendment, modification, discharge
or change is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">Borrower and all co-makers, endorsers, sureties, guarantors
and other accommodation parties hereby waive presentment for payment, demand, dishonor, notice of dishonor, protest, notice of
protest, and notice of nonpayment, and also notice of acceleration of maturity on default or otherwise, and consent, without affecting
their liability hereunder, to any and all extensions, renewals, substitutions, and alterations of any of the terms of this Note
and to the release of, or failure by the holder hereof to exercise any rights against any party liable for payment hereof or any
property securing payment hereof. Any such extension, renewal, substitution, alteration or release may be made without notice to
said parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">The rights and remedies of the holder as provided in this Note
and the Loan Documents shall be cumulative and concurrent, and may be pursued singly, successively, or together against Borrower,
any collateral, any guarantors of this Note and any other funds, property or security held by the holder for the payment of the
indebtedness due under this Note. The failure to exercise any such right or remedy shall in no event be construed as a waiver or
release of such rights or remedies or of the right to exercise them at any later time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">Borrower certifies that this loan is not a consumer or consumer-related
loan and is being used for business purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.5in; text-align: justify">Borrower acknowledges receipt of a copy of this Note on date of execution.&nbsp;</P>

<P STYLE="margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 37%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Pro-Dex Sunfish Lake, LLC, a</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Delaware limited liability company</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2px solid"><IMG SRC="rhf150667006_v1.jpg" ALT="-s- Richard L. Van Kirk"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Its: President</TD></TR>
</TABLE>
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<P STYLE="margin: 0; text-align: justify">663301-v1</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex10-4.htm
<DESCRIPTION>COMBINATION MORTGAGE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE MAXIMUM PRINCIPAL AMOUNT OF INDEBTEDNESS
SECURED HEREBY, EXCLUDING ADVANCES MADE BY THE MORTGAGEE IN PROTECTION OF THE PREMISES OR THE LIEN OF THIS MORTGAGE, SHALL BE
FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($500,000.00)&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>COMBINATION MORTGAGE,
SECURITY AGREEMENT</B><BR>
<B>AND FIXTURE FINANCING STATEMENT&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS COMBINATION MORTGAGE,
SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENT (the &ldquo;Mortgage&rdquo;), is made this 8th day of September, 2015, from
Pro-Dex Sunfish Lake, LLC, a Delaware limited liability company (&ldquo;Mortgagor&rdquo;) to Fortitude Income Funds, LLC, a Delaware
limited liability company (&ldquo;Mortgagee&rdquo;).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration of
the sum of <B>Five Hundred Thousand and 00/100 Dollars ($500,000.00) </B>to Mortgagor or to its benefit in hand paid, and for
the purpose of securing (a) the repayment of the indebtedness evidenced by Mortgagor&#146;s note(s) below described (hereinafter called
&ldquo;Note&rdquo; whether one or more):&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 7%; border-bottom: Black 2px solid">Date of Note</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; border-bottom: Black 2px solid; text-align: center">Principal Balance Due</TD>
    <TD STYLE="width: 13%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">September 8, 2015</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom">$500,000.00</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">payable to the order of Mortgagee with
interest thereon as set forth therein, principal and interest being due and payable as set forth therein, with the full principal
balance being due and payable not later than <B>March 1, 2016</B>, and all amendments, renewals, extensions and modifications thereof;
(b) the payment of all other sums with interest thereon as may be advanced by Mortgagee in accordance with this Mortgage (the indebtedness
evidenced by the Note and all such other sums are hereinafter collectively referred to as the &ldquo;Indebtedness&rdquo;); and (c)
the performance of all the covenants, conditions and agreements of Mortgagor herein contained, Mortgagor does hereby mortgage,
grant, bargain, sell, assign, transfer and convey unto Mortgagee, its successors and assigns, forever, with power of sale, the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;I.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of its right, title
and interest in and to the tracts, parcels and interest in the land described in <B>Exhibit A</B> attached hereto (the &ldquo;Land&rdquo;),
and the buildings, structures and other improvements now standing or at any time hereafter constructed or placed upon the Land
(the &ldquo;Improvements&rdquo;) including, but not limited to, (i) all building materials, supplies and equipment now or hereafter
located on the Land and suitable or intended to be incorporated in any building, structure, or other improvement located or to
be erected on the Land, (ii) all heating, plumbing and lighting apparatus, motors, engines and machinery, electrical equipment,
dynamos, transformers, oil burners, sprinkling equipment, boilers, furnaces, elevators and motors, equipment, communication systems,
incinerator apparatus, ventilating and air conditioning equipment, water and gas apparatus, pipes, faucets, and all other fixtures
of every description which are now or may hereafter be placed or used upon the Land or in any building or improvement now or hereafter
located thereon (excluding, however, fixtures owned by tenants occupying space in any building now or hereafter located on the
Land which are not basic to the operation of the building), (iii) all appliances, water softeners, carpets, carpeting, window shades
and blinds, furniture, furnishings, maintenance equipment, chairs, tables, linen, desks, stoves, refrigerators, televisions, washing
machines and dryers, restaurant equipment and all other personal property now or hereafter located in, or on, or used, or intended
to be used in connection with the Land or the Improvements (excluding personal property owned by tenants occupying space in any
building now or hereafter located on the Land), (iv) all additions, accessions, increases, parts, fittings, accessories, replacements,
substitutions, betterments and repairs to and of any and all of the foregoing, (v) all proceeds of the property described in the
foregoing subparagraphs (i) through (iv), including all insurance proceeds and condemnation awards made with respect to such property,
and (vi) all hereditaments, easements, appurtenances, estates, riparian rights, mineral rights and all other rights and interests
now or hereafter belonging to or in any way pertaining to the Land or to any building or improvement now or hereafter located thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All rents, issues,
profits, condemnation awards, insurance proceeds, revenues and income arising from the ownership or operation of the Land and
the Improvements and all proceeds and products thereof (herein collectively called &ldquo;Revenues and Income&rdquo;).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To Have and To Hold
the Lands and Improvements (together the &ldquo;Mortgaged Property&rdquo;), and the Revenues and Income therefrom, together with
all privileges, hereditaments and appurtenances thereunto now or hereafter belonging or in anywise appertaining, and the proceeds
thereof unto Mortgagee forever: provided, nevertheless, that this Mortgage is upon the express condition that if Mortgagor shall
cause to be paid to Mortgagee as and when due and payable the principal of, premium, if any, and interest on the Note, and all
other Indebtedness, and if Mortgagor shall also keep and perform each and every covenant and agreement of Mortgagor herein contained,
then, this Mortgage and the estate hereby granted shall cease and be and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">become
void and shall be released of record at the expense of Mortgagor; otherwise this Mortgage shall be and remain in full force and
effect.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mortgagor represents,
warrants and covenants to and with Mortgagee that it is lawfully seized of the Land in fee simple and has good right and full
power and authority to execute this Mortgage and to mortgage the Mortgaged Property: that Mortgagor owns the Mortgaged Property
free from all liens, security interests and encumbrances with the exception of those permitted encumbrances set forth in <B>Exhibit
B</B> attached hereto (the &ldquo;Prior Permitted Encumbrances&rdquo;); that Mortgagor will warrant and defend its title to the
Mortgaged Property and the lien and priority of this Mortgage against all claims and demands of all persons whomsoever, whether
now existing or hereafter arising, with the exception of the Prior Permitted Encumbrances; and that all buildings and improvements
now or hereafter located on the Land are, or will be, located entirely within the boundaries of the Land. The covenants and warranties
of this paragraph shall survive foreclosure of this Mortgage and shall run with the Land.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mortgagor further
covenants and agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of the Note</U>. Mortgagor shall duly and punctually pay the principal of and interest on the Note, together with any prepayment
charges and late charges provided for in the Note, in accordance with the terms of the Note, and pay all other Indebtedness, when
and as due and payable. The provisions of the Note are hereby incorporated by reference into this Mortgage as fully as if set
forth at length herein.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Status
of Mortgagor</U>. The Mortgagor&rsquo;s exact legal name is correctly set forth at the end of this Mortgage Instrument. The Mortgagor,
if applicable, is an organization of the type specified in the first paragraph of this Mortgage. The Mortgagor is incorporated
in or organized under the laws of the state specified in the first paragraph of this Mortgage. The Mortgagor will not cause or
permit any change to be made in its name, identity or corporate or partnership structure, including, any transfer, assignment,
sale or encumbrance with respect to any partnership interest or corporate shares of Mortgagor whether by Mortgagor or any of its
partners or shareholders unless the Mortgagor shall have first notified the Mortgagee in writing of such change at least 30 days
prior to the effective date of such change, and shall have first taken all action required by the Mortgagee for the purpose of
perfecting or protecting the lien and security interest of the Mortgagee. The Mortgagor&rsquo;s principal place of business and chief
executive office, and the place where Mortgagor keeps its books and records, including recorded data of any kind or nature, regardless
of the medium or recording, including software, writings, plans, specifications and schematics, has been for the preceding four
months (or, if less, the entire period of the existence of the Mortgagor) and will continue to be the address of the Mortgagor
set forth at the end of the Mortgage (unless the Mortgagor notifies the Mortgagee in writing at least 30 days prior to the date
of such change). The Mortgagor&rsquo;s organizational identification number, if any, assigned by the state of incorporation or organization
is correctly set forth in paragraph 30 of this Mortgage. The Mortgagor shall promptly notify the Mortgagee of any change in its
organizational identification number. If the Mortgagor does not now have an</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">organizational identification
number and later obtains one, the Mortgagor promptly shall notify the Mortgagee of such organizational identification number.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insurance</U>.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagor
shall keep the buildings, structures, fixtures, personal property and other improvements now existing or hereafter erected or
placed on the Land insured against loss by fire, perils of extended coverage, and such other hazards, casualties and contingencies,
on a &ldquo;Special Forms Peril&rdquo; form, for the full replacement cost, with coverage for demolition and increased costs of
construction, and Equipment Breakdown Insurance, for such periods with policies in such form as may be required by Mortgagee.
All insurance shall be carried in companies approved by Mortgagee and the policies and renewals thereof shall (i) contain a waiver
of defense based on coinsurance, (ii) be constantly assigned and pledged to and held by Mortgagee as additional security for the
Indebtedness secured by this Mortgage, (iii) contain an agreement of the insurer that it will not cancel the policy except after
thirty (30) days prior written notice to Mortgagee, (iv) contain a standard or union mortgage clause (sometimes known as the New
York Standard Mortgage Clause), creating a separate contract between the insurer and Mortgagee, in favor of and in form acceptable
to Mortgagee, (v) include effective waivers by the insurer of all claims for insurance premiums against Mortgagee, (vi) provide
that any losses shall be payable notwithstanding (1) any act of negligence of Mortgagor or Mortgagee, (2) any foreclosure or other
proceedings or notice of sale relating to the Mortgaged Property, or (3) any change in the title to or ownership of the Mortgaged
Property, and (vii) shall be reasonably satisfactory to Mortgagee in all other respects. In default thereof, Mortgagee may secure
such insurance and the amount paid therefor shall become immediately due and payable with interest at the rate provided in the
Note and shall be secured by this Mortgage. Notwithstanding anything herein to the contrary, it shall be Mortgagor&#146;s and not Mortgagee&#146;s
responsibility to maintain insurance coverage. In event of loss Mortgagor will give immediate notice by mail to Mortgagee, who
may make proof of loss if not made promptly by Mortgagor. Mortgagor hereby authorizes Mortgagee to settle and compromise all claims
on such policies and hereby authorizes and directs each insurance company concerned to make payment for any such loss directly
to Mortgagee instead of to Mortgagor and Mortgagee jointly. In the event that the loss exceeds $20,000.00, the insurance proceeds,
or any part thereof, may be applied by Mortgagee at its option either to the reduction of the Indebtedness hereby secured (provided
that in the event such application does not pay said Indebtedness in full, any such partial payment shall not affect or suspend
remaining installment payments of principal and interest due under the Note) or to the restoration or repair of the property damaged.
The original of all policies of insurance shall be deposited with Mortgagee. In lieu of a deposit of the original policy, Mortgagor
may provide a certificate of insurance and a certified copy of the insuring provisions of a master policy of insurance covering
the Mortgaged Property. Mortgagor shall provide Mortgagee upon request with appropriate evidence that all premiums on said policies
of insurance have been paid. In the event of foreclosure of this Mortgage, all right, title and interest of Mortgagor in and to
any insurance policies then in force and proceeds of insurance not yet paid for loss or damage shall pass to the purchaser at
the foreclosure sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"></TD><TD STYLE="text-align: justify">Notwithstanding the provisions contained in Paragraphs 3 and 13 of this Mortgage to the contrary,
if all or a portion of the Improvements is taken by eminent domain, or destroyed or damaged by fire or other casualty, Mortgagor
may elect to have the proceeds of insurance or the condemnation award, less the portion thereof applied to the costs of obtaining
such proceeds or award (the &ldquo;Net Proceeds&rdquo;) applied to replace, repair, rebuild, and restore the Mortgaged Property to
substantially the same condition as existed before the taking or event causing the damage or destruction, with such changes, alterations,
and modifications as may be desired by Mortgagor and approved by Mortgagee, and will be suitable for continued operation of the
Mortgaged Property for the business purposes of Mortgagor, subject to the following conditions:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">No uncured Event of Default shall exist hereunder on the
date any disbursement of Net Proceeds is requested by Mortgagor;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">The appraised value of the Land and improvements after
such restoration or repair shall not have been reduced below the appraised value of the Mortgaged Property as of the date of this
Mortgage; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">All Net Proceeds shall be paid to Mortgagee and shall
be disbursed by an escrow agent designated by Mortgagee, in the manner consistent with disbursements of construction proceeds.
Prior to the first disbursement of Net Proceeds, Mortgagor shall provide Mortgagee with plans and specifications for the restoration
reasonably acceptable to Mortgagee, a copy of the construction contract with a contractor reasonably acceptable to Mortgagee providing
for the necessary reconstruction and repair, insurance coverage commonly required for new construction, and a sworn cost statement
itemizing all costs of the restoration and demonstrating that the Net Proceeds are sufficient to pay such costs. If the Net Proceeds
are insufficient to complete restoration, Mortgagor shall deposit the difference with the escrow agent prior to the first disbursement
of Net Proceeds.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagor
shall also maintain public liability, including personal injury and property damage, insurance applicable to the Mortgaged Property
in such amounts as are usually carried by persons operating similar properties in the same general locality but in any event with
limits of liability not less than $1,000,000.00 combined single limit, naming Mortgagee as an additional insured, and containing
an agreement of the insurer that it will not cancel the policy except after thirty (30) days prior written notice to Mortgagee.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Land or any part thereof is located in a designated official flood-hazard area, Mortgagor shall also maintain flood insurance
insuring the Mortgaged Property now existing or hereafter erected on the Land in an amount equal to the actual replacement cost
thereof or to the maximum limit of coverage made available with respect to the Mortgaged</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">Property under the Federal
Flood Disaster Protection Act of 1973 (P.L. 93-234), as amended, whichever is less.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Taxes, Assessments and Other Charges</U>. Subject to required payments under paragraph 5 hereof and to paragraph 8 relating
to contests, Mortgagor shall pay before a penalty might attach for nonpayment thereof, all taxes and assessments and all other
charges whatsoever levied upon or assessed or placed against the Mortgaged Property, except that assessments may be paid in installments
so long as no fine or penalty is added to any installment for the nonpayment thereof. Mortgagor shall likewise pay all taxes,
assessments and other charges, levied upon or assessed, placed or made against, or measured by, this Mortgage, or the recordation
hereof, or the Indebtedness secured hereby, provided that Mortgagor shall not be obliged to pay such tax, assessment or charge
if such payment would be contrary to law or would result in the payment of an unlawful rate of interest on the Indebtedness secured
hereby; and provided further that nothing herein contained shall be construed as requiring Mortgagor to pay any net income, profits
or revenue taxes of Mortgagee. Mortgagor shall promptly furnish to Mortgagee all notices received by Mortgagor of amounts due
under this paragraph and in the event Mortgagor shall make payment directly, Mortgagor shall promptly furnish to Mortgagee receipts
evidencing such payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fund
for Taxes, Assessments and Insurance</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
waived in writing by Mortgagee, Mortgagor shall pay to Mortgagee on the day installments of principal and interest are payable
under the Note, or on such other day of the month Mortgagee may direct until the Indebtedness is paid in full, a sum equal to
one-twelfth of the yearly taxes and assessments levied against the Mortgaged Property, plus one-twelfth of the annual premiums
for the insurance required by paragraph 3 hereof, all as estimated initially and from time to time by Mortgagee, to be applied
by Mortgagee to pay said taxes, assessments and insurance premiums (such amounts being hereafter referred to as the &ldquo;Funds&rdquo;).
Mortgagee shall apply the Funds to pay said taxes, assessments and insurance premiums so long as the amount of Funds held by Mortgagee
is sufficient to make such payments. No earnings or interest shall be payable to Mortgagor on the Funds. Such Funds shall not
be, nor be deemed to be, trust funds, and Mortgagee shall have the right to hold the Funds in any manner Mortgagee elects and
may commingle the Funds with other monies held by Mortgagee.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the amount of the Funds held
by Mortgagee shall exceed at any time the amount deemed necessary by Mortgagee to provide for the payment of taxes, assessments
and insurance premiums, such excess shall, at the option of Mortgagee, either be promptly repaid to Mortgagor or be credited to
Mortgagor on the next monthly installments of Funds due. If at any time the amount of the Funds held by Mortgagee shall be less
than the amount deemed necessary by Mortgagee to pay taxes, assessments and insurance premiums as they fall due, Mortgagor shall
promptly pay to Mortgagee any amount necessary to make up the deficiency upon notice from Mortgagee to Mortgagor requesting payment
thereof. The Funds are pledged as additional security for the Indebtedness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the occurrence of any Event of Default (as defined in Paragraph 21 hereof), Mortgagee may apply in any order as Mortgagee shall
determine in its sole discretion, any Funds held by Mortgagee at the time of application to pay taxes, assessments and insurance
premiums which are then or will thereafter become due or as a credit against the Indebtedness. Upon payment in full of all Indebtedness,
Mortgagee shall promptly refund any Funds held by Mortgagee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
waiver by Mortgagee of the requirements of this paragraph 5 may be revoked without prior notice by Mortgagee at any time for any
reason.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Utility Charges</U>. Subject to paragraph 8 relating to contests, Mortgagor shall pay all charges (exclusive of charges which
are the obligations of tenants to pay) made by utility companies, whether public or private, for electricity, gas, heat, water
or sewer, furnished or used in connection with the Mortgaged Property or any part thereof, and shall, upon written request of
Mortgagee, furnish proper receipts evidencing such payment.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Liens</U>.
Subject to paragraph 8 hereof relating to contests, Mortgagor shall not create, incur or suffer to exist any lien, encumbrance
or charge filed of record against the Mortgaged Property or the Revenues and Income or any part thereof, other than the lien of
current real estate taxes and installments of special assessments with respect to which no penalty is yet payable and the Prior
Permitted Encumbrances. Mortgagor shall pay, when due, the claims of all persons supplying labor or materials to or in connection
with the Mortgaged Property. Mortgagor shall pay all expenses and attorney fees incurred by Mortgagee by reason of litigation
with any third party for the protection of the lien of this Mortgage or the preservation of the Mortgaged Property.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Permitted
Contests</U>. Mortgagor shall not be required to (i) pay any tax, assessment or other charge referred to in paragraph 4 hereof,
(ii) pay any charge referred to in paragraph 6 hereof, (iii) discharge or remove any lien, encumbrance or charge referred to in
paragraph 7 hereof, or (iv) comply with any statute, law, rule, regulation or ordinance referred to in paragraph 9 hereof, so
long as Mortgagor shall (a) contest, in good faith, the existence, amount or the validity thereof, the amount of damages caused
thereby or the extent of Mortgagor&#146;s liability therefor, by appropriate proceedings which shall operate during the pendency thereof
to prevent (A) the collection of, or other realization upon the tax, assessment, charge or lien, encumbrance or charge so contested,
(B) the sale, forfeiture or loss of the Mortgaged Property or any part thereof, and (C) any interference with the use or occupancy
of the Mortgaged Property or any part thereof, and (b) shall give such security to Mortgagee as may be reasonably demanded by
Mortgagee to insure compliance with the foregoing provisions of this paragraph 8. Mortgagor shall give prompt written notice to
Mortgagee of the commencement of any contest referred to in this paragraph 8.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Preservation and Maintenance
of Mortgaged Property</U>. Mortgagor (i) shall keep the buildings and other Improvements now or hereafter erected on the Land in
safe and good repair and condition, ordinary depreciation excepted, (ii) shall constantly maintain the parking</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">and landscaped areas
of the Mortgaged Property, (iii) shall not commit waste or permit impairment or deterioration of the Mortgaged Property, (iv)
shall not alter or permit the alteration by any tenant of the design or structural character of any building now or hereafter
erected on the Land or hereafter construct, or permit any tenant to construct additions to existing buildings or additional buildings
on the Land, without the prior written consent of Mortgagee, (v) shall not remove or permit removal from the Land of any of the
fixtures or personal property included in the Mortgaged Property unless the same is immediately replaced with like property of
at least equal value and utility, and this Mortgage becomes a valid first lien on such property, and (vi) shall not remove or
permit removal from the Land of any buildings or other structures, nor do any act that would impair or lessen the value of the
Mortgaged Property without the prior written consent of Mortgagee. Mortgagor covenants, warrants and represents that Mortgagor
is in compliance with all present, and will promptly comply with all future laws, ordinances, rules and regulations of any governmental
authority affecting the Mortgaged Property.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Right
of Mortgagee to Enter</U>. Mortgagor will permit Mortgagee and its agent to enter and to authorize others to enter upon any or
all of the Mortgaged Property, at any time and from time to time, to inspect the same, to perform or observe any covenant, conditions,
or terms which Mortgagor shall fail to perform, meet or comply with, or for any other purpose in connection with the protection
or preservation of Mortgagee&#146;s security, without thereby becoming liable to Mortgagor or any person in possession under Mortgagor.
Mortgagee is under no obligation to exercise the rights permitted by this Section. If any such inspection is made during construction
of the Mortgaged Property or thereafter, said inspection shall be strictly for the benefit of Mortgagee. Mortgagor hereby assumes
all inspection responsibilities with respect to the construction, if any, of the Mortgaged Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Prior
Permitted Encumbrances</U>. Mortgagor shall keep current and free from default all Prior Permitted Encumbrances.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Uniform Commercial
Code Security Interest</U>. This Mortgage shall constitute a security agreement pursuant to the Uniform Commercial Code covering
any of the items or types of property included as part of the Mortgaged Property that may be subject to a security interest pursuant
to the Uniform Commercial Code, and Mortgagor hereby grants Mortgagee a security interest in such items or types of property. This
Mortgage or a reproduction hereof, is sufficient as a financing statement and as a financing statement, it covers goods which are
or are to become fixtures on the Land. The Mortgagor hereby authorizes the Mortgagee at any time and from time to time to file
any initial financing statements, amendments thereto and continuation statements with or without the signature of the Mortgagor
as authorized by applicable law, as applicable to all or part of the Mortgaged Property and/or the Mortgaged Property. Mortgagor
shall pay all costs of filing such instruments. For purposes of such filings, the Mortgagor agrees to furnish any information requested
by the Mortgagee promptly upon request by the Mortgagee. The Mortgagor also ratifies its authorization for the Mortgagee to have
filed any like initial financing statements, amendments thereto and continuation statements, if filed prior to the date of this
security instrument. The Mortgagor hereby irrevocably constitutes and appoints the Mortgagee and any officer or agent of the Mortgagee,
with full power of substitution, as its true and lawful</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">attorneys-in-fact with
full irrevocable power and authority in the place and stead of the Mortgagor or in the Mortgagor&#146;s own name to execute in the
Mortgagor&#146;s name any documents and otherwise to carry out the purposes of this Section 12, to the extent that the Mortgagor&#146;s
authorization above is not sufficient. To the extent not permitted by law, the Mortgagor hereby ratifies all acts said attorneys-in-fact
have lawfully done in the past or shall lawfully do or cause to be done in the future by virtue hereof. This power of attorney
is coupled with an interest and shall be irrevocable.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Condemnation</U>.
If all or any part of the Mortgaged Property is damaged, taken, or acquired, either temporarily or permanently, in any condemnation
proceeding, or by exercise of the right of eminent domain, or by reason of sale under threat thereof, or in anticipation of the
exercise of the right of condemnation or other eminent domain proceedings, the amount of any award or other payment for such taking,
acquisition or damages made in consideration thereof, to the extent of the full amount of the remaining unpaid Indebtedness secured
by this Mortgage, is hereby assigned to Mortgagee, who is empowered to collect and receive the same and to give proper receipts
therefor in the name of Mortgagor and the same shall be paid forthwith to Mortgagee. Mortgagee at its option, may release any
such award or monies so received or apply same in whole or in part, after the payment of all of its expenses, including costs
and attorneys&#146; fees, on account of the last maturing installments of the Indebtedness, irrespective of whether such installments
are then due and payable. Mortgagor shall give written notice to Mortgagee immediately upon its receipt of notice of the institution
of any condemnation proceeding or other eminent domain proceedings or negotiations with respect thereto.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subrogation</U>.
If Mortgagee pays any prior lien from the proceeds of the loan secured by this Mortgage, it shall be subrogated to the rights
of the holder of such prior lien as fully as if such lien had been assigned to Mortgagee.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Protection of
Mortgagee&#146;s Security</U>. Subject to the rights of Mortgagor under paragraph 8 hereof, if Mortgagor fails to perform any of the
covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which affects the Mortgaged Property
or the interest of Mortgagee therein, or the title thereto, then Mortgagee, at Mortgagee&#146;s option, may perform such covenants and
agreements, defend against and/or investigate such action or proceeding, and take such other action as Mortgagee deems necessary
to protect Mortgagee&#146;s interest. Mortgagee shall be the sole judge of the legality, validity and priority of any claim, lien, encumbrance,
tax, assessment, charge and premium paid by it and of the amount necessary to be paid in satisfaction thereof. Mortgagee is hereby
given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged
Property as Mortgagor&#146;s agent in Mortgagor&#146;s name to perform any and all covenants and agreements to be performed by Mortgagor
as herein provided. Any amounts or expenses disbursed or incurred by Mortgagee pursuant to this paragraph 15 with interest thereon,
shall become additional Indebtedness of Mortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to
other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement
at the annual rate stated in the Note which the Mortgage secures, unless collection from Mortgagor of interest at such rate</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">would
be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from
Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage or other lien discharged
in whole or in part by Mortgagee under the provisions hereof, and any such subrogation rights shall be additional and cumulative
security for this Mortgage. Nothing contained in this paragraph 15 shall require Mortgagee to incur any expense or do any act hereunder
and Mortgagee shall not be liable to Mortgagor for any damages or claims arising out of action taken by Mortgagee pursuant to this
paragraph 15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Secondary Financing</U>. Mortgagor shall not create or permit to be created or to remain, with the exception of the Prior Permitted
Encumbrances, any subordinate lien on the Mortgaged Property or any part thereof to secure any Indebtedness for borrowed money,
without obtaining the prior written consent of Mortgagee.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Change
in Tax Laws</U>. Mortgagor will pay all taxes, assessments and other similar charges, other than Mortgagee&#146;s income tax, which
may be assessed upon the Mortgaged Property, or upon Mortgagee&#146;s interest therein, or upon this Mortgage or the monies secured
hereby without regard to any law heretofore enacted or hereafter to be enacted, imposing payment of the whole or any part thereof
upon Mortgagee. Upon violation of this undertaking or the passage of a law imposing payment of the whole or any portion of any
of the taxes aforesaid upon Mortgagee, or upon the rendering by any court of competent Jurisdiction of a decision that the undertaking
by Mortgagor as herein provided to pay taxes, assessments or other similar charges is legally inoperative, then and in any such
event the Indebtedness, without any deduction, shall at the option of Mortgagee become immediately due and payable, notwithstanding
anything contained in this Mortgage or any law hereafter enacted.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous
Rights of Mortgagee</U>. Mortgagee may at any time and from time to time, without notice, release any person liable for payment
of any of the Indebtedness, extend the time or alter the terms of payment of any of the Indebtedness, accept additional security
of any kind, release any property securing the Indebtedness, consent to the making of any plat or map of the Land or the creation
of any easement thereon or any covenants restricting use or occupancy thereof, or alter or amend the terms of this Mortgage in
any way. No such release, modification, addition, or change shall affect the liability of any person other than the person so released
for payment of the Indebtedness, nor affect the priority and lien priority status of this Mortgage upon any property not so released.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs
of Administration</U>. If Mortgagor shall request any consent, agreement, modification, release or information from Mortgagee
concerning the Mortgaged Property, the Note, or any other agreement securing the Indebtedness, Mortgagor shall pay to Mortgagee
on demand a reasonable fee for considering the request along with any expenses such as appraisal fees, attorneys&#146; fees, or credit
report charges, whether or not the request is granted by Mortgagee. Such amounts shall become additional Indebtedness of Mortgagor
secured by this Mortgage and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">shall bear interest from the date incurred or disbursed at the rate applicable to the principal provided
in the Note.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Event
of Default Defined</U>. Each of the following occurrences shall constitute an Event of Default hereunder (hereinafter called &ldquo;Event
of Default&rdquo;):&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagor
shall fail to duly and punctually pay any installment of interest or of principal and interest payable under the Note, or any
other payment of money to be made under the Note, or any other default or event of default occurs under the terms of the Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagor
shall default in the performance of or breach of the agreement contained in paragraph 16 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagor
shall fail to duly perform or observe any of the covenants or agreements contained in this Mortgage other than covenants, agreements
or events of default as defined in this paragraph 21 herein, after 30 days written notice to Mortgagor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagor
shall make an assignment for the benefit of creditors, or shall admit in writing inability to pay debts as they become due, or
shall generally not be paying its debts as they come due, or shall file a petition in bankruptcy, or shall become or be adjudicated
a bankrupt or insolvent, however defined, or shall file a petition seeking any reorganization, dissolution, liquidation, arrangement,
composition, readjustment or similar relief under any present or future bankruptcy or insolvency statute, law or regulation or
shall file an answer admitting to or not contesting the material allegations of a petition filed against Mortgagor in such proceedings,
or shall not, within 30 days after the filing of such petition, have same dismissed or vacated, or shall seek or consent to or
acquiesce in the appointment of any trustee, receiver or liquidator of a material part of Mortgagor&#146;s properties or of the Mortgaged
Property or shall not, within 30 days after the appointment (without Mortgagor&#146;s consent or acquiescence) of a trustee, receiver
or liquidator of any material part of Mortgagor&#146;s properties or of the Mortgaged Property, have such appointment vacated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
judgment, writ or warrant of attachment or execution, or similar process shall be entered and become a lien on, or issued or levied
against, the Mortgaged Property or any part thereof and shall not be released, vacated or fully bonded within 20 days after its
entry, issue or levy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
default or event of default, however defined, shall occur under any other mortgage, assignment or other security document constituting
a lien on the Mortgaged Property or any part thereof, after 30 days written notice to Mortgagor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">g.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
default or an event of default shall occur under the Loan Documents (as that term is defined in the Note), which Loan Documents
are incorporated herein by reference as if set forth herein in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">h.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Mortgaged Property, or any part thereof, or Mortgagor&#146;s legal and equitable interest therein, shall, without the prior written
consent of Mortgagee, be sold, assigned, conveyed, transferred or encumbered, whether voluntarily, involuntarily, due to death
or otherwise, or by operation of law, or, if Mortgagor is a corporation or partnership, any interest in Mortgagor shall be sold,
conveyed, transferred or encumbered, whether voluntarily, involuntarily, due to death or otherwise, or by operation of law; this
provision shall apply to each and every sale, assignment, transfer, conveyance or encumbrance regardless of whether or not Mortgagee
has in connection with any previous sale, transfer, conveyance or encumbrance, consented or waived its rights, whether by action
or nonaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Mortgagor is dissolved or fails to be in good standing under the laws of the State of Delaware, after reasonable notice and opportunity
to cure.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Immediately upon becoming aware of the
existence of any condition or event which constitutes, or which after notice or lapse of time, or both would constitute, an Event
of Default, Mortgagor shall given written notice to Mortgagee specifying the nature and period of existence thereof and what action
Mortgagor has taken, is taking or proposes to take with respect thereto.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Remedies</U>.
Upon the occurrence of any Event of Default or at any time thereafter until such Event of Default is cured to the written satisfaction
of Mortgagee, Mortgagee may, at its option, exercise one or more of the following rights and remedies (and any other rights and
remedies available to it):&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagee
may, by written notice to Mortgagor declare immediately due and payable all unmatured Indebtedness secured by this Mortgage, and
the same shall thereupon be immediately due and payable, without further notice or demand.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagee
shall have and may exercise with respect to all personal property and fixtures which are part of the Mortgaged Property, and with
respect to the Revenues and Income, all the rights and remedies accorded upon default to a secured party under the Uniform Commercial
Code, as in effect in the State of Minnesota. If notice to Mortgagor of intended disposition of such property is required by law
in a particular instance, such notice shall be deemed commercially reasonable if given to Mortgagor (in the manner specified in
paragraph 28) at least 10 calendar days prior to the date of intended disposition. Mortgagor shall pay on demand all costs and
expenses incurred by Mortgagee in exercising such rights and remedies, including without limitation, reasonable attorneys&#146; fees
and legal expenses.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagee
may (and is hereby authorized and empowered to) foreclose this Mortgage by action or advertisement, pursuant to the statutes of
the State of Minnesota in such case made and provided, power being expressly granted to sell the Mortgaged Property at public
auction and convey the same to the purchaser in fee simple, and, out of the proceeds arising from such sale, to pay all Indebtedness
secured hereby with interest, and all legal costs and charges of such foreclosure and the maximum attorneys&#146; fees permitted by
law, which costs, charges and fees Mortgagor agrees to pay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgagor
hereby waives all right of homestead exemption in the Mortgaged Property.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver
of Rights Regarding Remedies</U>. Mortgagor understands and agrees that if an &ldquo;Event of Default&rdquo; (as defined in paragraph
21) shall occur, Mortgagee has the right, among others, to foreclose this Mortgage by advertisement pursuant to Minnesota Statutes,
Chapter 580 as now in effect or as it may be hereafter amended, or pursuant to any similar or replacement statute hereafter enacted.
That under said Chapter 580 as now in effect, if Mortgagee elects to foreclose by advertisement, it may cause the Mortgaged Property,
or any part thereof, to be sold at public auction; that notice of such sale must be published for six weeks and served upon all
persons in possession of the Mortgaged Property at least four weeks before the sale; that after sale, Mortgagor will have six
or twelve months or such other period as may then be provided by law, if any, to redeem the Mortgaged Property so sold, depending
upon circumstances outlined in Minnesota Statutes, Section 580.23, by paying the sale price, any taxes, assessments and insurance
premiums paid by the purchaser at such sale and other sums permitted by law, together with interest thereon from the date of sale
at the highest rate permitted by law.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mortgagor further
understands that in the event of such default, Mortgagee may take possession of any personal property covered by this Mortgage
and dispose of the same by sale or otherwise in one or more parcels; provided that at least 10 days&#146; prior notice of such disposition
that must be given to Mortgagor, all as provided for by the Minnesota Uniform Commercial Code, as now in effect or as hereafter
amended, or by any similar or replacement statute hereafter enacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mortgagor further
understands that under the Constitution of the United States and the State of Minnesota, Mortgagor may have the right to notice
and hearing before the Mortgaged Property may be sold and that the procedure for foreclosure by advertisement described above
does not insure that notice will be given to Mortgagor, and neither said procedure for foreclosure by advertisement nor the Uniform
Commercial Code requires any such hearing or other Judicial proceeding.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">MORTGAGOR HEREBY RELINQUISHES,
WAIVES AND GIVES UP MORTGAGOR&#146;S CONSTITUTIONAL RIGHTS, IF ANY, TO NOTICE AND HEARING BEFORE SALE OF THE MORTGAGED PROPERTY AND
EXPRESSLY CONSENTS AND AGREES THAT THE MORTGAGED PROPERTY MAY BE FORECLOSED BY ADVERTISEMENT AND THAT PERSONAL PROPERTY COVERED
BY THIS MORTGAGE AND SECURITY AGREEMENT MAY BE DISPOSED OF PURSUANT TO THE UNIFORM COMMERCIAL CODE, ALL AS DESCRIBED ABOVE.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver of Marshalling</U>.
Mortgagor, any party who consents to this Mortgage and any party who now or hereafter acquires a lien on the Mortgaged Property
and who has actual or constructive notice of this Mortgage hereby waives any and all right to require the marshalling of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">assets
in connection with the exercise of any of the remedies permitted by applicable law or provided herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Forbearance
by Mortgagee Not a Waiver</U>. Any delay by Mortgagee in exercising any right or remedy hereunder, or otherwise afforded by law
or equity shall not be a waiver of or preclude the exercise of such right or remedy or any other right or remedy hereunder or
at law or equity. The failure of Mortgagee to exercise any option to accelerate maturity of the Indebtedness secured by the Mortgage,
the forbearance by Mortgagee before or after the exercise of such option, or the withdrawal or abandonment of proceedings provided
for by this Mortgage shall not be a waiver of the right to exercise such option or to accelerate the maturity of such Indebtedness
by reason of any past, present or future event which would permit acceleration under paragraph 22 hereof. The procurement of insurance
or the payment of taxes or other liens or charges by Mortgagee shall not be a waiver of Mortgagee&rsquo;s right to accelerate the maturity
of the Indebtedness hereby secured.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Mortgagee&rsquo;s
Remedies Cumulative</U>. All remedies of Mortgagee are distinct and cumulative to any other right or remedy under this Mortgage
or afforded by law or equity, and may be exercised concurrently or independently and as often as the occasion therefor arises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors and
Assigns Bound, Captions</U>. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to,
the respective heirs, personal representatives, successors and assigns of Mortgagee and Mortgagor and shall bind persons who become
bound as a debtor to this Mortgage. The captions and headings of the paragraphs of this Mortgage are for convenience only and are
not to be used to interpret or define the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice</U>.
Any notice under this Mortgage shall be deemed to have been given if hand delivered or mailed by certified mail, return receipt
requested, to Mortgagor or Mortgagee at the following addresses:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If to Mortgagor:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pro-Dex Sunfish Lake,
LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>2361 McGaw Avenue</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Irvine, Ca 92614</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If to Mortgagee:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Fortitude Income Fund,
LLC&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">701 Washington Ave
North, Suite 550&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Minneapolis, MN 55401</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">or at such other address as Mortgagor
may designate in writing to Mortgagee.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">28.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Mortgage shall be governed by the substantive laws of the State of Minnesota. All terms in this Mortgage that are
defined in the Minnesota Uniform Commercial Code, as amended from time to time (the &ldquo;UCC&rdquo;), shall have the meanings
set forth in the UCC, and such meanings shall automatically change at the time that any amendment to the UCC, which changes such
meanings, shall become effective. In the event that any provision or clause of this Mortgage conflicts with applicable law, such
conflict shall not affect other provisions of this Mortgage which can be given effect without the conflicting provisions and to
this end the provisions of the Mortgage are declared to be severable.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">29.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fixture
Filing</U>. From the date of its recording, this Mortgage shall be effective as a financing statement filed as a fixture filing
with respect to all goods constituting part of the Mortgaged Property (as more particularly described in the granting clause of
this Mortgage) which are or are to become fixtures related to the real estate described herein. For this purpose, the following
information is set forth:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">a.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name
                                         and Address of Debtor and Record Owner of Real Estate:</FONT></TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pro-Dex
                                         Sunfish Lake, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>2361
                                         McGaw Avenue</U></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Irvine,
                                         Ca 92614</U></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">b.</TD><TD STYLE="text-align: justify">Name and Address of Secured Party.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Fortitude Income Fund,
LLC</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">701 Washington Ave
North, Suite 550</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Minneapolis, MN 55401</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">c.</TD><TD STYLE="text-align: justify">This document covers goods which are or are to become
fixtures and that personal property hereinabove described.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">30.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Hazardous Materials</U>.
Mortgagor covenants, represents and warrants to Mortgagee, its successors and assigns, (i) that it has not used or permitted and
will not use or permit the Mortgaged Property to be used, whether directly or through contractors, agents or tenants, and to the
best of Mortgagor&rsquo;s knowledge and except as disclosed to Mortgagee in writing, the Mortgaged Property has not at any time
been used for the generating, transporting, treating, storage, manufacture, emission of, or disposal of any dangerous, toxic or
hazardous pollutants, chemicals, wastes or substances as defined in the Federal Comprehensive Environmental Response Compensation
and Liability Act of 1980, or the Federal Resource Conservation and Recovery Act of 1976, or the Minnesota Environmental Response
and Liability Act, <U>Minn. Stat.</U> Ch. 115B, or any other federal, state or local environmental laws, statutes, regulations,
requirements and ordinances, and also including urea formaldehyde and asbestos (the &ldquo;Hazardous Materials&rdquo;); (ii) that
there have been no investigations or reports involving Mortgagor or the Mortgaged Property by any governmental authority which
in any way pertain to Hazardous Materials other than as previously disclosed to Mortgagee; (iii) that to the best of their knowledge
and belief, upon due inquiry, Mortgagor&#146;s operation of the Mortgaged Property has not violated and is not currently violating any
federal, state or local law, regulation, ordinance or requirement governing Hazardous Materials; (iv) that the Mortgaged Property
is not listed in the United States Environmental Protection Agency&#146;s National Priorities List of Hazardous Waste Sites nor any
other list, schedule, log, inventory or record of Hazardous Materials or hazardous waste sites, whether maintained by the United
States Government or any state or local agency; and (v) that the Improvements will not contain any urea formaldehyde or asbestos,
except as may have been disclosed in writing to Mortgagee by Mortgagor at the time of execution and delivery of this Mortgage,
and except to the extent that industry standard building materials utilized by Mortgagor in any new construction on the Mortgaged
Property may contain such materials. Mortgagor agrees to indemnify and reimburse Mortgagee, its successors and assigns, for any
breach of these representations and warranties and from any loss, damage, expense or cost arising out of or incurred by Mortgagee
which is the result of a breach of, misstatement of or misrepresentation of the above covenants, representations and warranties,
together with all attorney&#146;s fees incurred in connection with the defense of any action against Mortgagee arising out of the above.
These covenants, representations and warranties shall be deemed continuing covenants, representations and warranties for the benefit
of Mortgagee, and any successor and assigns of Mortgagee, including any purchaser at a mortgage foreclosure sale, any transferee
of the title of Mortgagee or any subsequent purchaser at a foreclosure sale, and any subsequent owner of the Mortgaged Property
and shall survive any foreclosure of this Mortgage and any acquisition of title by Mortgagee or anyone claiming through or under
this</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Mortgage
the title of Mortgagee. The amount of all such indemnified loss, damage, expense or cost, shall bear interest thereon at the rate
of interest in effect on the Note and shall become additional Indebtedness secured by this Mortgage and shall become immediately
due and payable in full upon demand of Mortgagee, its successors and assigns.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">31.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Blocked Persons.</U> Mortgagor
warrants, represents and covenants that neither Mortgagor, Guarantor nor any person or entity owning a direct or indirect beneficial
interest in Mortgagor or Guarantor is or will be an entity or person (i) that is listed in the Annex to, or otherwise subject
to, the provisions of Executive Order 13224 issued by the President of the United States on September 23, 2001 and made effective
as of September 24, 2001 (&ldquo;EO13224&rdquo;), (ii) whose name appears on the United States Treasury Department&rsquo;s Office
of Foreign Assets Control (&ldquo;OFAC&rdquo;) most current list of &ldquo;Specifically Designated National and Blocked Persons,&rdquo;
(which list may be published from time to time in various mediums including, but not limited to, the OFAC website, http:www.treas.gov/ofac/t11sdn.pdf),
or (iii) who commits, threatens to commit or supports &ldquo;terrorism,&rdquo; as that term is defined in EO13224, (each entity
or person described in clauses [i] through [iii] in this Subparagraph is sometimes referred to in this Subparagraph as a &ldquo;Prohibited
Person&rdquo;). Mortgagor covenants and agrees that neither Mortgagor, Guarantor nor any person or entity owning a direct or indirect
beneficial interest in Mortgagor or Guarantor will knowingly (x) conduct any business, or engage in any transaction or dealing,
with any Prohibited Person, including, but not limited to, the making or receiving of any contribution of funds, goods, or services,
to or for the benefit of a Prohibited Person, or (y) engage in or conspire to engage in any transaction that evades or avoids,
or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in EO13224. Mortgagor further
covenants and agrees to deliver from time to time to Mortgagee any such written certification or other evidence as may be reasonably
requested by Mortgagee, confirming that (aa) neither Mortgagor, Guarantor nor any person or entity owning a direct or indirect
beneficial interest in Mortgagor or Guarantor is a Prohibited Person and (bb) neither Mortgagor, Guarantor nor any person or entity
owning a direct or indirect beneficial interest in Mortgagor or Guarantor has knowingly engaged in any business, transaction or
dealings with a Prohibited Person, including, but not limited to, the making or receiving of any contribution of funds, goods,
or services, to or for the benefit of a Prohibited Person.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
Mortgagor has caused this Mortgage to be duly executed as of the day and year first above written.&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">Pro-Dex Sunfish Lake, LLC,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">a Delaware limited liability company</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 2px solid; width: 19%">&nbsp;&nbsp;&nbsp;/s/ Richard L. Van Kirk</TD>
    <TD STYLE="text-align: center; width: 18%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Its: President</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A notary public or other officer completing<BR>
this certificate verifies only the identity of<BR>
the individual who signed the document to<BR>
which this certificate is attached, and not the<BR>
truthfulness, accuracy, or validity of that<BR>
document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">State of California &#9;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">County of Orange&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 8, 2015
before me, notary public Mark Nava Fernandez (here insert name and title of officer), personally appeared Richard Lee Jr. Van
Kirk, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I certify under PENALTY OF PERJURY under
the laws of the State of California that the foregoing paragraph is true and correct.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WITNESS my hand and official seal.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 90%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 25%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; padding-bottom: 2.5pt; border-bottom: Black 2px solid">/s/ Mark Nava Fernandez</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 2.5pt">(Seal)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">Signature</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Send Tax Statements to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 35%">Pro-Dex Sunfish Lake, LLC</TD>
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>2361 McGaw Avenue</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-top: Black 2px solid; border-bottom: Black 2px solid">Irvine, CA 92614</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>With copy to:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Fortitude Income Fund, LLC</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-top: Black 2px solid; border-bottom: Black 2px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>THIS INSTRUMENT WAS DRAFTED BY:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><I>Michael F. Hurley, Esq.</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Barna, Guzy &amp; Steffen, Ltd.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>400 Northtown Financial Plaza</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>200 Coon Rapids Boulevard</TD>
    <TD></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Minneapolis, Minnesota 55433</TD>
    <TD></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>(763) 780-8500</TD>
    <TD></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">663305-v1</P>

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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&#9;<U>EXHIBIT
A&nbsp;</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>Legal Description</U></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The East 500 feet of the South 200 feet
(as measured along the East and South lines respectively) of the Northeast Quarter (NE &frac14; of SE &frac14;) of Section numbered
Twenty-seven (27), Township Thirty-two (32) North of Range Twenty-five(25) West, Anoka County, Minnesota.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>EXHIBIT B</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Permitted Encumbrances</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>ex10-5.htm
<DESCRIPTION>ASSIGNMENT OF LEASES AND RENTS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&#9;ASSIGNMENT
OF LEASES AND RENTS&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS ASSIGNMENT is
made as of this 8th day of September, 2015, by Pro-Dex Sunfish Lake, LLC, a Delaware limited liability company (&ldquo;Assignor&rdquo;),
in favor of Fortitude Income Funds, LLC, a Delaware limited liability company (&ldquo;Lender&rdquo;).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#9;<U>RECITALS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assignor desires to
borrow from Lender the sum of <B>Five Hundred Thousand and 00/100 Dollars ($500,000.00)</B>, evidenced by a Promissory Note of
even date herewith (the &ldquo;Note&rdquo;), and will execute and deliver to Lender to secure the Note, a Combination Mortgage,
Security Agreement and Fixture Financing Statement of even date herewith (the &ldquo;Mortgage&rdquo;), covering, in part, real estate
situated in the County of Anoka, State of Minnesota, described in <B>Exhibit A</B> attached hereto and made a part hereof, and
certain fixtures and equipment owned by Assignor now or hereafter located thereon (the &ldquo;Mortgaged Property&rdquo;), all as
more fully described in the Mortgage.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assignor may, from
time to time, during such time as the Obligations Secured Hereby (as hereinafter defined) remain outstanding, enter into leases
and other agreements under which Assignor is entitled to Rents (as hereinafter defined) with respect to all or part of the Mortgaged
Property (all of which leases and agreements are collectively referred to herein as the &ldquo;Leases&rdquo;) with various persons
or entities (hereinafter referred to as &ldquo;Lessees&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Lender, to further
secure the Obligations Secured Hereby, has required execution of this Assignment.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the premises, and for further good and valuable consideration, the receipt and adequacy of which is hereby acknowledged,
Assignor does hereby grant, transfer and assign to Lender all of Assignor&#146;s right, title and interest in and to any Leases or
any future Leases or subleases covering all or any part of the Mortgaged Property together with any and all security deposits
made thereunder and all extensions, modifications and renewals, if any, thereof, and any guarantees of Lessees&#146; obligations under
any thereof. In addition to the foregoing, Assignor does further hereby grant, transfer and assign to Lender all of the rents,
income, issues and profits (the &ldquo;Rents&rdquo;), now or hereafter accruing or owing from any </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Leases
or any future Leases or otherwise as a result of any use, possession or occupancy of the Mortgaged Property or any part
thereof, whether accruing before or after foreclosure of the Mortgage or during the period of redemption thereof. The Rents
are being hereby granted, transferred and assigned for the purpose of securing (collectively referred to as the
&ldquo;Obligations Secured Hereby&rdquo;):&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Payments of all indebtedness evidenced by the Note (including
any extensions or renewals thereof);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Payment of all other sums, with interest thereon, becoming
due and payable to Lender pursuant to covenants and agreements contained herein and in the Note and in the Mortgage; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Performance and discharge of each and every obligation,
covenant and agreement of Assignor contained herein and in the Note and the Mortgage.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ASSIGNOR WARRANTS AND
COVENANTS that Assignor is and will remain the absolute owner of the Rents and Leases free and clear of all liens and encumbrances
other than the lien granted herein and those encumbrances set forth in Exhibit B to the Mortgage (the &ldquo;Permitted Encumbrances&rdquo;);
that Assignor has not heretofore assigned or otherwise encumbered its interest in any of the Rents or Leases to any person other
than as set forth in the Permitted Encumbrances; that Assignor has the right under applicable law, under the Leases and otherwise
to execute and deliver this Assignment and keep and perform all of Assignor&#146;s obligations hereunder; that Assignor will warrant
and defend the Leases and Rents against all adverse claims, whether now existing or hereafter arising.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify">AND TO PROTECT THE SECURITY OF THIS ASSIGNMENT, ASSIGNOR AGREES:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
of Leases</U>. To faithfully abide by, perform and discharge each and every obligation, covenant and agreement under any Leases
to be performed by the lessor thereunder; to observe and comply with all provisions of law applicable to the operation and ownership
of the Mortgaged Property, including without limitation, all applicable provisions of Minnesota Statute, Chapter 504B with respect
to any security deposits received by Assignor and all covenants and obligations required of Assignor by the provisions of Minnesota
Statutes, Chapter 504B; to enforce or secure the performance of each and every obligation, covenant, condition and agreement of
any Leases by Lessees to be performed; not to further borrow against, pledge or assign any Rents, or anticipate the Rents or reduce
the amount of Rents or other payments under any Lease, or to waive, excuse, condone or in any manner release or discharge a Lessee
of or from the obligations, covenants, conditions and agreements by a Lessee to be performed, including the obligation to pay
the rental called for thereunder in the manner and at the place and time specified therein unless Assignor has the prior written
permission of Lender;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">and not to terminate any lease or accept a surrender thereof except by reason of the expiration of the stated
term of the Lease or unless the prior written permission of Lender has been obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Protect
Security</U>. At Assignor&#146;s sole cost and expense, to appear in and defend any action or proceeding arising under, growing out
of or in any manner connected with any Lease or the obligations, duties or liabilities of Assignor and Lessees, and to pay all
costs and expenses of Lender, including attorneys&#146; fees in a reasonable sum, in any such action or proceeding in which Lender
may appear. Assignor represents and warrants that Assignor is now and will be the absolute owner of any lease with full right
and title to assign the same and the Rents, that there is no outstanding assignment or pledge of any lease or of the Rents; that
no Rents have been waived, anticipated, discounted, compromised or released. During any period of time the Mortgaged Premises
is not occupied by Assignor, Assignor agrees to use Assignor&#146;s best efforts to keep the Mortgaged Property fully leased at rentals
equivalent to or greater than rentals achieved from comparable properties.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Present
Assignment of Rents</U>. This Assignment shall constitute an actual and present assignment, provided, Assignor shall have the
right to collect, but not prior to accrual, all of the Rents, and to retain, use and enjoy the same unless and until a default
shall occur in the payment or performance of the Obligations Secured Hereby.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Remedies</U>.
During any period of time in which the Mortgaged Premises is occupied or leased to parties other than Assignor, and upon or at
any time after default by Assignor in the payment or performance of any Obligations Secured Hereby, Lender may, at its option
and subject to the provisions of the Mortgage, without notice:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">a.</TD><TD STYLE="text-align: justify">In the name, place and stead of Assignor, (i) enter
upon, manage and operate the Mortgaged Property, or retain the services of an independent contractor to manage and operate the
same, (ii) make, enforce, modify and accept surrender of any Lease, (iii) obtain or evict Lessees, collect, sue for, fix or modify
rents and enforce all rights of Assignor under any Lease, and (iv) perform any and all other acts that may be necessary or proper
to protect the security of this Assignment; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">b.</TD><TD STYLE="text-align: justify">Apply for, and Assignor hereby consents to, the appointment
of a receiver of the Mortgaged Property, whether or not proceedings for the foreclosure of the Mortgage have been commenced, and
if such proceedings have been commenced, whether or not a foreclosure sale has occurred.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The exercise of any of the foregoing rights
or remedies shall not cure or waive any default under the Note or the Mortgage or invalidate any act done by virtue of such default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Application
of Rents</U>. All Rents collected by Lender, or by a receiver, if any, shall be held and applied to the following items in the
manner determined by Lender or the receiver to preserve the value of the Mortgaged Premises:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">a.</TD><TD STYLE="text-align: justify">To payment of all reasonable fees of the receiver, if
any, approved by the court;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">b.</TD><TD STYLE="text-align: justify">To the repayment when due of all Lessee security deposits,
with interest thereon, pursuant to the provisions of Minnesota Statutes, Section 504B.178;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">c.</TD><TD STYLE="text-align: justify">To payment of all delinquent or current real estate
taxes and special assessments payable with respect to the Mortgaged Property;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">d.</TD><TD STYLE="text-align: justify">To payment of all premiums then due for the insurance
required by the provisions of the Mortgage;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">e.</TD><TD STYLE="text-align: justify">To payment of expenses incurred for normal maintenance
of the Mortgaged Property;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">f.</TD><TD STYLE="text-align: justify">To payment of expenses incurred by Lender or its agents
for the management and operation of the Mortgaged Property, including the cost of any independent contractor retained by Lender
to manage and operate the Mortgaged Property;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">g.</TD><TD STYLE="text-align: justify">All sums remaining shall be applied to the Obligations
Secured Hereby;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">h.</TD><TD STYLE="text-align: justify">If the Mortgaged Property, shall be foreclosed and sold
pursuant to a foreclosure sale, then:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(i)</TD><TD STYLE="text-align: justify">If Lender is the purchaser at the foreclosure sale, the
rents shall be paid to Lender to be applied to the extent of any deficiency remaining after the sale, the balance to be retained
by Lender, and if the Mortgaged Property be redeemed by Assignor or any other party entitled to redeem, to be applied as a credit
against the redemption price with any remaining excess rents to be paid to Assignor, provided, that if the Mortgaged Property
not be redeemed, any remaining excess rents to belong to Lender, whether or not a deficiency exists.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">If Lender is not the purchaser at the foreclosure sale,
the rents shall be paid to Lender to be applied first, to the extent of any deficiency remaining after the sale, the balance to
be retained by the purchaser, and if the Mortgaged Property be redeemed by Assignor or any other party entitled to redeem, to
be applied as a credit against the redemption price with any remaining excess rents to be paid to Assignor, provided, if the Mortgaged
Property not be redeemed any remaining excess rents shall be paid first to the purchaser at the foreclosure sale in an amount
equal to the interest accrued upon the sale price pursuant to Minn. Stat. 580.23 or 581.10, then</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1.5in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="text-align: justify">to Lender to the extent of any
deficiency remaining unpaid and the remainder to the purchaser.</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The rights and powers of Lender under this
Assignment, and the application of the Rents pursuant to this paragraph 5, shall continue and remain in full force and effect both
before and after commencement of any action or procedure to foreclose the Mortgage, after the foreclosure sale of the Mortgaged
Property in connection with the foreclosure of the Mortgage, and until expiration of the period of redemption from any such foreclosure
sale, whether or not any deficiency from the unpaid balance of the Obligations Secured Hereby exists after such foreclosure sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Liability for Lender</U>. Lender shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge
any obligation, duty or liability under any Lease, nor shall this Assignment operate to place responsibility for the control,
care, management or repair of the Mortgaged Property upon Lender, nor for the carrying out of any of the terms and conditions
of any Lease; nor shall it operate to make Lender responsible or liable for any waste committed on the Mortgaged Property by a
Lessee or any other party, or for any dangerous or defective condition of the Mortgaged Property or for any negligence in the
management, upkeep, repair or control of the Mortgaged Property resulting in loss or injury or death to any Lessee, licensee,
employee or stranger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignor
to Hold Lender Harmless</U>. Assignor shall and does hereby agree to indemnify and to hold Lender harmless of and from any and
all liability, loss or damage which it may or might incur under any Lease or under or by reason of this Assignment and of and
from any and all claims and demands whatsoever which may be asserted against it by reason of any alleged obligations or undertakings
on its part to perform or discharge any of the terms, covenants or agreements contained in any Lease. Should Lender incur such
liability, loss or damage under any Lease or under or by reason of this Assignment, or in the defense of any such claims or demands,
the amount thereof, including costs, expenses, and reasonable attorneys&#146; fees, shall be secured hereby and Assignor shall reimburse
Lender therefor immediately upon demand, and upon the failure of Assignor so to do Lender may declare all Obligations Secured
Hereby immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Specific
Assignment of Subsequent Lease</U>. Assignor covenants, and agrees promptly upon request of Assignee, to transfer and assign to
Lender any specific Lease of all or any part of the Mortgaged Property upon the same terms and conditions as are herein contained.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Remedies
not Exclusive</U>. This Assignment shall in no way operate to prevent Lender from pursuing any remedy which it now has or hereafter
may have under the terms or conditions of the Note or the Mortgage, or any other instrument securing the same, or by law, but
shall be deemed an additional remedy and shall be cumulative with the remedies granted therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization
to Lessees</U>. Lessees are hereby irrevocably authorized and directed to recognize the claims of Lender, or its assigns, hereunder
without investigating the reason for any action taken by Lender, or the validity or the amount of indebtedness owing to Lender,
or the existence of any default in the Note, the Mortgage, or under or by reason of this Assignment, or the application of the
Rents to be made by Lender. Assignor hereby irrevocably directs and authorizes Lessees to pay to Lender all sums due under any
Lease and consents and directs that said sums shall be paid to Lender without the necessity for a Judicial determination that
a default has occurred hereunder or under the Note, or the Mortgage, or that Lender is entitled to exercise its rights hereunder,
and to the extent such sums are paid to Lender, Assignor agrees that Lessees shall have no further liability to Assignor for the
same. The sole signature of Lender shall be sufficient for the exercise of any rights under this Assignment and the sole receipt
of Lender for any sums received shall be a full discharge and release therefor to Lessees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
All notices, demands or other communications which are required or permitted to be given or served by either party hereunder shall
be deemed given when deposited in the United States Mail, certified mail, return receipt requested, postage prepaid, addressed
as follows:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 17%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">If to Assignor:</P>
</TD>
    <TD STYLE="width: 23%">Pro-Dex Sunfish Lake, LLC</TD>
    <TD STYLE="width: 52%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>2361 McGaw Ave&#9;&#9;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 2px solid; border-bottom: Black 2px solid">Irvine, CA 92614&#9;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>If to Lender:</TD>
    <TD STYLE="text-align: left">Fortitude Income Fund,
LLC</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">701 Washington Ave North, Suite 550</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Minneapolis, MN 55401</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Such addresses may be changed from time
to time by either party by at least ten days&#146; prior written notice to the other party.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors
and Assigns</U>. This Assignment and each and every covenant, agreement and other provision hereof shall be binding upon Assignor
and its successors and assigns, including without limitation each and every from time to time record owner of the Mortgaged Property
or any other person having an interest therein, and shall inure to the benefit of Lender and its successors and assigns.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Assignment is made and executed in the State of Minnesota and shall be governed by the laws of such State with respect
to procedures and remedies available to Lender in the event of a default. It is the intention of the parties hereto that this
Assignment shall confer upon Lender the fullest rights, remedies and benefits available pursuant to Minnesota Statutes, Sections
576.25 and 559.17.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
The unenforceability or invalidity of any provision hereof shall not render any other provisions herein contained unenforceable
or invalid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Mortgagee in Possession</U>. Nothing herein contained and no action taken pursuant to this Assignment, shall be construed as constituting
Lender as &ldquo;Mortgagee in Possession&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
Assignor has caused this Assignment of Leases and Rents to be duly executed as of the day and year first above written.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Pro-Dex Sunfish Lake, LLC,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">a Delaware limited liability company</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2px solid">/s/ Richard L. Van Kirk</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Its: President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A notary public or other officer completing<BR>
this certificate verifies only the identity of<BR>
the individual who signed the document to<BR>
which this certificate is attached, and not the<BR>
truthfulness, accuracy, or validity of that<BR>
document.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">State of California&#9; &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">County of Orange</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 8, 2015
before me, notary public Mark Nava Fernandez (here insert name and title of officer), personally appeared Richard Lee Jr. Van
Kirk, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I certify under PENALTY OF PERJURY under
the laws of the State of California that the foregoing paragraph is true and correct.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WITNESS my hand and official seal.&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 90%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 25%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; padding-bottom: 2.5pt; border-bottom: Black 2px solid">/s/ Mark Nava Fernandez</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 2.5pt">(Seal)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">Signature</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS INSTRUMENT DRAFTED BY:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BARNA, GUZY &amp; STEFFEN, LTD.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">400 Northtown Financial Plaza&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">200 Coon Rapids Boulevard&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Minneapolis, MN 55433&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(763) 780-8500 (MFH)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">663308-v1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>EXHIBIT A</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Legal Description</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The East 500 feet of the South 200 feet
(as measured along the East and South lines respectively) of the Northeast Quarter (NE &frac14; of SE &frac14;) of Section numbered
Twenty-seven (27), Township Thirty-two (32) North of Range Twenty-five(25) West, Anoka County, Minnesota.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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