SECURITY AGREEMENT
THISSECURITY AGREEMENT (this"Agreement")ismade andentered intoas ofJuly 16, 2018, by and between Acquired Sales Corp., a Nevada corporation, whose address is 31 N. Suffolk Lane, Lake Forest, Illinois 60045 ("Debtor"),andJoshua A. Bloom ("Bloom") and Gerard M. Jacobs ("Jacobs") (Bloom and Jacobs collectively, the"Secured Parties").
WHEREAS,Debtor has dulyauthorized, executed, anddeliveredto each of Bloom and Jacobs acertain DemandPromissoryNote of even dateherewithpayable by Debtor to Bloom and Jacobs respectively (collectively,asthesame may be amended, modified, orextendedfrom time to time (the "Notes");and
WHEREAS, toinduce theSecured Parties to advance or continue to advance loan proceeds to Debtor under the Notes, Debtor herebyagree toexecutethisAgreementwith the Secured Parties, and pursuant hereto tograntto and createinfavor of the Secured Partiesafirstprioritysecurity interestinandlienuponall assetsandrightsofDebtor,as hereinafter provided; and
NOW,THEREFORE,inconsideration of and as an inducementto theSecured Partiesto advance or continue to advanceloan proceeds underthe Notes,thepartieshereto, intendingtobelegally bound,covenant andagreeasfollows:
1. CERTAIN DEFINITIONS.In addition to the wordsand termsdefined elsewherein thisAgreement,the following words andtermsshallhavethefollowingmeanings,respectively,unlessthe context hereof otherwise clearlyrequires:
"Code"meansthe Uniform CommercialCodeoftheState of Nevada,asineffect on the datehereofand as amended fromtime totimehereafter.
"Collateral"meansallpersonal propertyofDebtor,including,withoutlimitation,all ofthefollowingitems,whethernowowned ornow due,orinwhich Debtor havean interest orhereafter,at anytimein thefuture, acquired,arisingor tobecomedue,orinwhichDebtor obtainaninterest,and allproducts,proceeds,replacements,substitutions and accessions of orto anyof the following,whichtothe extent not defined below, shallhave the meanings given tothem under theCode:(a) all accountsandaccountsreceivable;(b)allinventory(including rawmaterials,work-in-process,finishedgoodsand supplies); (c) all contract rights, including contractrightspursuanttoleasesofrealestate; (d)allgeneralintangibles (including,withoutlimitation,payment intangibles,software,trademarks,patents, patents pending,copyrights, service marks,orotherintellectual property rightsofDebtor);(e) all equipment(includingallmachinery,furniture, andfixtures);(f)all farm products;(g) all goods;(h) allchattelpaper(whethertangible orelectronic);(i)all fixtures;(j) all investment property(including, withoutlimitation, all financial assets,certificatedanduncertificated securities, securitiesaccountsandsecurityentitlements);
(k) all letter-of-creditrights; (l)all rights under judgments,allcommercial tortclaims,and chosesinaction;(m) allbooks,recordsandinformationrelatingtotheCollateraland/ortothe operationofDebtor'businessesandallrightsofaccesstosuch books,recordsand informationandallproperty inwhichsuch books,records andinformation are stored,recordedand maintained;(n) allinstruments,promissoryNotes,documents oftitle,documents, policies andcertificates ofinsurance,securities,deposits,depositaccounts,money,cash orother property;(o)allfederal,state andlocaltaxrefundsand/or abatements to which the Debtor are or becomesentitlednomatterhow orwhenarising,including,butnot limitedto,anylosscarrybacktaxrefunds; (p)allinsuranceproceeds,refundsand premium rebates, includingwithoutlimitationproceedsof fireandcreditinsurance,whether anyof suchproceeds,refundsandpremium rebatesariseoutofanyof theforegoing (a-o) or otherwise; and(q)allliens,guaranties,rights,remedies and privilegespertaining to anyof the foregoing (a-p),includingtherightof stoppageintransit.
"Event(s) of Default"meansanydefaultorbreachof the terms,conditionsor
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covenants ofthisAgreement, or any default underthe Notes.
"Obligations"means: (a) allindebtedness of the Debtor to the Secured Partiesarising on or afterthe date hereof under theNotes,both principalandinterest,and any and all extensions,renewals, refinancings or refundings, inwhole orinpart,thereof;(b)all indebtedness ofDebtortotheSecured Parties for reasonablefeesandexpenses arising in connection withthe Notes,including, withoutlimitation,reasonableattorneys' feesand legal and other expensespaidorincurred bythe Secured Partiesin connection with the collection of the amountsdue hereunderorunder the Notes;(c) allfutureadvances made bytheSecured Parties for the protectionorpreservationoftheCollateral orany portionthereof, including, without limitation, advances forstorageandtransportationcharges,taxes,insurance,repairsandthe like,when and asthesame becomedue, whether atmaturityorby declaration,accelerationor otherwise, or,if nowdue,when payment thereofshallbedemandedbythe Secured Parties;and(d) allother obligations andliabilities,of every kind and description,direct or indirect,absoluteor contingent,due orto become due,regardless ofhowtheyaroseorwere acquired, nowexisting orhereafterarisingby DebtortotheSecured Parties.
"Permitted Liens"means:(a)warehousemen's,mechanics', carriers'and other similarliensarising by operation oflaw in theordinary courseof Debtor'sbusinesses;(b)liens in favorof the Secured Parties;and(c) purchase moneysecurityinterestsintangible personalpropertypurchasedorleasedby Debtor wherethe security interestcovers only such propertyandsecuresonly thecostthereofand whichdonotexceed$100,000in theaggregateat any time.
"Person"meansan individual, entity,corporation,partnership,limited partnership,limitedliabilitycompany,limitedliability partnership, jointventure,trust,orunincorporated organization,oragovernment or any agency orpoliticalsubdivision thereof.
2.SECURITY INTEREST. Assecurity for the full and timely payment andperformanceof theObligationsinaccordance withthe terms thereofand ofthe instrumentsnow or hereafter evidencing theObligations,Debtor,ontheterms set forth in this Agreement,herebygranttotheSecured Parties,under theCode,a continuingsecurityinterest in and alienontheCollateral.In addition toalltherightsgivento theSecured Partiesby this AgreementandtheNotes,theSecured Partiesshallhave all therights and remediesofaSecured Partyunder theCode.Inconnectionwiththe grant of security interestmadehereby,Debtor herebyauthorizetheSecured Partiestofileor cause to be filedone ormorefinancing statements,amendments tofinancing statements, continuations tofinancingstatements, and/orin lieu financingstatementswithany filingor recordingoffice for the purpose ofperfectingor continuingtheperfectionof the securityinterestinthe Collateral.
3.PRINCIPLESAPPLICABLE TOTHECOLLATERAL.Thepartiesagree that, atalltimesduringtheterm ofthisAgreement,thefollowingprovisionsshallbeapplicable to the Collateral:
(a)Debtorcovenants and agreesthatitwillkeepaccurate and completebooks and records concerning theCollateralin accordance with GAAP.
(b)TheSecured Partiesshall have theright toreviewthe booksandrecords ofDebtor pertainingtotheCollateralandtocopy and makeexcerptstherefrom,allatsuchtimesandasoften as theSecured Parties mayreasonably request.
(c)Debtorshallmaintainand keep (i) its principal placeofbusiness andits chief executive offices, (ii)theirrecords concerning the Collateral,and (iii)theCollateral, at theaddressforDebtorset forthin thepreamblehereto, butatnootherlocation,withoutthe priorwritten consentoftheSecured Parties.
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(d) Notwithstanding thesecurityinterestintheCollateral grantedtoand created infavor of theSecured Partiesunder thisAgreement,Debtorshallhavetheright,until one ormoreEvents ofDefaultshalloccur,tosell,lease or otherwise dispose oftheCollateral,provided thatany suchdispositionshallbein the ordinary course of Debtor'sbusiness.Anydisposition outsideoftheordinary course of Debtor'sbusinessshallrequirethe prior written consent of Secured Parties.
(e) Notwithstanding thesecurityinterest intheCollateralgranted to and created in favor of the Secured PartiesunderthisAgreement,Debtor shallhave the right,untilsuchtime astheSecured Parties shallhave notified Debtorthat Secured Parties haverevokedsuchright baseduponanEventofDefault, at their owncost and expense to collect any andall accountsofDebtorcomprisingthe Collateral(the"Accounts").
(f)The Secured Partiesshall have theright after an Event ofDefault hasoccurred (i)torevoke the rightofDebtorgranted undersubsection(e)ofthisSection 3bywrittennoticetoDebtortosucheffect,(ii)to take overanddirect collection of any and allAccounts of Debtor,(iii) togivenoticeof theSecuredParties'securityinterestinsuch AccountstoanyorallPersons obligated to theDebtorthereon,(iv) to directsuchPersons to makepayment of suchAccounts directlytothe SecuredParties and(v) to take control of such Accounts andanyproceedsthereof.
(g) The Secured Partiesshall havetheright after an Event ofDefault to cause anoninterestbearingbank accountentitled"CashCollateralAccount"(the"CollateralAccount")tobe openedandmaintainedforDebtoratanyofficeorbranch ofDebtor' bankwithin the State of Illinois. Allcashproceeds received bytheSecured PartiesfromDebtor pursuantto subsection(h) of this Section 3 ordirectly fromPersons obligatedonAccounts pursuant to subsection (f) of this Section 3shallbe deposited inthe CollateralAccount asfurthersecurityfor the paymentof theObligations.The Secured Partiesshall havesoledominion and control over allfundsdepositedintheCollateralAccount,andsuch fundsmaybe withdrawntherefromonly bytheSecured Parties.
(h) Upon noticebythe Secured PartiestoDebtorthat the CollateralAccounthas beenopenedinaccordancewithsubsection(g) of thisSection 3, Debtorshall causeallcashproceeds collectedby themtobe deliveredtotheSecured Partiesforthwithuponreceipt, intheoriginalform inwhichreceived, bearing suchendorsementsorassignments bythe Debtor as may benecessary to permitcollectionthereofbytheSecuredParties,and forsuchpurposetheDebtor hereby irrevocably authorize and empower theSecured Parties,theirofficers, employeesand authorized agents,to endorseandsignthenamesofDebtoron allchecks,drafts, money orders or othermediaof payment sodeliveredandsuch endorsementsorassignments shall,forall purposes,be deemed tohave beenmade bytheDebtor priortoanyendorsement or assignment thereof by the Secured Parties.The Secured Partiesmay use any convenient or customary means forthe purpose of collectingsuchchecks, drafts,money ordersor other media of payment.
4. CERTAINCOVENANTS.Untilpaymentand performancein fulloftheObligations,Debtor agrees, represents, warrants and covenants that:
(a)Debtorhasandwillhavegoodand marketable titletotheCollateral from time to time ownedoracquired byDebtor,freeandclearofall liens,encumbrances andsecurity interests,except securityinterests grantedtoandcreatedinfavor of the Secured Parties and exceptfor thePermitted Liens.Debtorshalldefendsuch title againsttheclaims and demands of all Persons.
(b) Debtorshall not,withoutthe prior writtenconsent oftheSecured Parties,(i)borrowagainsttheCollateral,theExcludedProperty, oranyrealproperty noworin thefutureowned orleasedbyDebtor ("DebtorAssets")from any Person,other thantheSecured PartiesandotherthanaspermittedintheNotes, (ii) create,incur,assumeorsufferto exist anymortgage,lien, charge or encumbranceon, or security interest in, orpledgeofor conditionalsale orothertitle retentionagreementwithrespect to anyofDebtor Assets,exceptthesecurityinterestcreated
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hereunderandthePermitted Liens,(iii)permit anylevy orattachment to be made against anyofDebtorAssets except alevy orattachment relatingtothisAgreement,(iv) permitanyfinancingstatement to be onfilewithrespecttoany ofDebtor Assets,exceptfinancing statementsin favorof the Secured Partiesandexceptfinancingstatementspertaining to the Permitted Liens, or(v)permitany transferofDebtorAssets without the consent of the Secured Parties, except asmay beexpresslypermitted hereunder.
(c)Debtor shallfaithfully preserve and protect theSecuredParties'securityinterestin theCollateralandshall,at their owncostand expense,cause said securityinteresttobe perfectedand continuedperfected, and for suchpurpose,theDebtorshallfrom time to time at the requestofthe Secured Parties fileorrecord,orcauseto be filedor recorded, or authorizetheSecured Parties toexecuteandfileorrecord,suchinstruments,documentsand notices, including,without limitation,financingstatements and continuationstatements, as the Secured Parties maydeemnecessaryoradvisablein order toperfectandcontinueperfectedsaidsecurity interest. Debtorshall do allsuchotheractsand thingsand executeand deliver allsuch otherinstrumentsand documents,including,without limitation,furthersecurityagreements,pledges andassignments,as the Secured Parties mayreasonably deemnecessaryor advisable fromtimeto timeinorder to perfect and preserve thepriority of said security interest asa first liensecurityinterest in the Collateral prior to the rights ofall Persons thereinor thereto.TheSecured Partiesare hereby appointed attorney-in-factfor theDebtortodoallacts andthings whichtheymay deem necessary or advisable to preserve,perfect andcontinue perfected Secured Parties' securityinterest inthe Collateral,including,without limitation, the signingandrecording of financing and other similar statements.
(d) Risk of loss of,damage to ordestructionof theCollateral ison Debtor. Debtor shallinsurethe Collateral against suchrisks andcasualties and in such amounts and with suchinsurers asacceptable toSecured Partiesintheir reasonable discretion.All suchpoliciesof insurance shallcontain loss payable clauses in favor of Debtor andtheSecured Partiesastheir respectiveinterestsmay appear, and show Secured Partiesas an additional insured ontheliability portion of said policy, and such policies or certificates evidencingthesame shall be deposited with the Secured Partiesimmediately upon therequestof the Secured Parties. IfDebtor failtoeffect and keepin fullforce andeffectsuch insurance or fails to pay the premiumsthereonwhen due,the Secured Partiesmaydo so for the account of Debtor and add the cost thereof tothe Obligations.Debtorhereby assigns and sets over unto the Secured Parties allmonies whichmaybecomepayable on account of suchinsurance,including, without limitation,anyreturn of unearnedpremiums which may bedueuponcancellation of any such insurance,and authorizes the Secured Partiesto direct the insurers topaythe Secured Parties anyamount so due.TheSecured Parties, theirofficers,employees and authorized agents, arehereby irrevocablyappointed attorney-in-fact of Debtorto endorse any draft or check which may bepayableto Debtorin order to collectthe proceeds of suchinsurance or anyreturnof unearned premiums.Such proceeds shall beappliedto the payment or prepayment ofthe Obligations.Anybalanceofinsurance proceeds remaining inthepossession ofthe Secured Partiesafterpaymentin full of the Obligations shall be paidtoDebtoror order.
(e) Debtorassumes full responsibility for taking anyandallnecessaryactionto preserve itsrightsinthe Accountsagainstaccount Debtor.TheSecured Parties shall be deemed tohaveexercised reasonable careinthe custody and preservation of such of the Collateral asmaybein their possessionif theytakessuch action forthatpurpose as Debtorshallrequestin writing, providedthatsuchrequestedaction shallnot,inthereasonablejudgmentoftheSecured Parties,impair theSecured Parties' securityinterestinthe Collateral ortheirrightsin,or the value of, the Collateral, and provided furtherthat suchwrittenrequest is received bytheSecured Partiesin sufficient timetopermitit totaketherequested action.
(f)Debtorshallmaintaineachitemof Collateral in good condition and repairand shall pay and discharge all taxes,levies and other impositions levied or assessed thereon as well
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asthe cost of repairs to ormaintenanceofthesame.If Debtor fail to do so, the Secured Parties may paythe costofsuch repairs ormaintenance and such taxes,leviesor other impositions fortheaccountof Debtor and add the amountthereofto the Obligations.
(g) WheneverDebtorshallacquiremortgageablereal property,Debtor shallreportsuchacquisitionto the Secured Partiesat leastfive daysbefore consummating suchacquisitionand shall execute anddeliver, andhave recorded,amortgageagreement in favor oftheSecured Parties whichshall containsubstantiallyidenticalcovenants, agreements,andrestrictionswith regard tosuchrealpropertyasarecontainedin thisAgreementrelatingtopersonal property,and anyotheragreements, instruments,documentsand papersastheSecured Parties mayrequesttogrant theSecured Parties asecurityinterest in suchreal property.
5.EVENTSOF DEFAULT.
(a)lf one ormore EventsofDefaultshalloccur,then,andinanysuch event,theSecured Parties mayforthwithproceedto exercise any one ormore ofthe rightsand remedies afforded a Secured Party by theCodeandsuchotherrights and remedieswhichtheymayhaveatLaworin equity,under thisAgreementorthe Notes,all ofwhich rightsandremedies shallbecumulativeto thefull extentpermitted by law. Withoutlimitationupon theforegoing,theSecured Partiesshallhavetherightwithoutdemandorpriornotice to Debtor oranyotherPerson, exceptasotherwiserequiredby law(andifnotice isrequiredby Law,afterten (10)days'priorwritten noticetoDebtoratits addresshereinafter setforth)andwithoutprior judicial hearingor legalproceedings,allof whichDebtor herebyexpressly waives:
(i)toenterany premiseswhereCollateral is located andto takepossessionandcontrolof the same;
(ii)toenforcecollection, atDebtor'sexpenseandeitherinthenameoftheSecured Parties orthe nameof Debtor,of any orall of the Accountsbysuit orotherwise,to surrender,release or exchangealloranypart thereof,or to compromiseor extendorrenew(whetheror notlonger thanthe originalperiod) anyindebtedness thereunderto theextentit iscommerciallyreasonabletodoso;
(iii)totake overand perform any contract ofDebtorand totakecontrolof any and allAccountsandproceeds arisingtherefrom;
(iv)to sell allor anyportionof the Collateral atpublicor privatesaleatsuchplace orplaces andatsuchtimeor times and in suchmanner and uponsuchterms,whetherfor cash or credit,astheSecured Partiesintheirsole discretionmay determine;and
(v) to endorse inthename ofDebtor any instrument, howsoever receivedbytheSecured Parties,representing proceedsofanyoftheCollateral.
The Secured Partiesshall applythe proceedsofanysale orotherdispositionof any realization of the Collateral first to the payment of the reasonable costs andexpensesincurredby theSecuredPartiesinconnectionwithsuchsale or otherdisposition or realization, including reasonable attorneys' fees and legal expenses,secondto the repaymentof theObligationstotheSecured Parties,whetheronaccount ofprincipalorinterest orotherwiseas theSecuredParties in their solediscretion mayelect,andthentothe paymentof thebalance,ifany,as requiredbylaw. Iftheproceedsofany such saleorotherdispositionof theCollateral are insufficient to pay theObligations and the Secured Parties'reasonablecostshereunder,Debtorshallbeliablefor any deficiency.
(b)Upon the occurrence ofanyEvent ofDefault,Debtorshallpromptly upondemandby the Secured Partiesassemble the Collateraland makeit availableto theSecured Parties at aplacetobedesignatedby theSecured Partieswhichshallbe reasonablyconvenient toboth
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parties.The rightoftheSecured PartiesunderthisSectiontohave theCollateral assembledand madeavailable toitistheessence ofthis Agreement, andthe Secured Partiesmay,at their election,enforcesuchright bya bill inequityforspecificperformance.
6.DEFEASANCE. Upon paymentand performance infulloftheObligations,thisAgreement shall terminate andbeofnofurther forceoreffect. Until suchtime,however,thisAgreement shallbe bindinguponandinuretothebenefitoftheparties heretoand theirrespectivesuccessorsand assigns.
7.SUBROGATIONANDMARSHALING.Debtorhereby waives,surrendersand agrees not to claim or enforce,solongastheObligations or anyportionthereof remainsoutstanding,(a) anyrightto besubrogated inwholeor inpart to any rightorclaim of theholder of anypart of the Obligations and(b)anyrightto requiremarshaling ofanyassets ofDebtor which right of subrogation ormarshaling might otherwise arise fromanypaymentto theholderof any part oftheObligationsarising out oftheenforcement ofthesecurityinterestgrantedhereby,oranyothermortgageorsecurityinterest grantedbyDebtor oranyother Personto theSecured Parties,or theliquidationofortherealizationupontheCollateral,anyothercollateralgrantedby Debtororany otherPersonto the Secured Parties,orany part thereof.
8. PLEDGE AND HYPOTHECATION. Without limiting the generality of any other provision of this Agreement, Debtor hereby agrees to pledge, hypothecate and deliver to Secured Parties, as further collateral and security for the Notes, the note payable by the William Noyes Webster Foundation to Debtor.
9.MISCELLANEOUS.
(a) Severability.Ifany provisionofthis Agreementshall forany reason be heldinvalidor unenforceable,such invalidity or unenforceabilityshall notaffect anyotherprovisionhereof,butthis Agreementshallbeconstruedas ifsuch invalid orunenforceable provisionhad neverbeen containedherein;andDebtor and the Secured Partiesshallnegotiateingoodfaithtomodify thisAgreement so asto effecttheoriginal intentofthisAgreementasclosely as possible in an acceptable mannersothat thetransactionscontemplated hereby and the allocation ofeconomicbenefitscontemplated hereunderarefulfilledtothe maximumextentpossible.
(b)NoWaiver; RightsCumulative.Nofailureordelayon the part of theSecured Partiesinexercisinganyright, remedy,power orprivilegehereundershall operateasa waiverthereoforofany otherright, remedy, powerorprivilege hereunder;nor shallanysingle orpartial exerciseofanysuchright,remedy,power orprivilege precludeanyotheror further exercise thereoforof anyotherright,remedy, poweror privilege. The rights and remediesofthe Secured Partiesunder thisAgreement are cumulative and notexclusive ofany rightsorremedieswhichtheymayotherwisehave.Nomodificationorwaiverofany provisionof thisAgreement nor consenttoany departure by Debtor therefromshallbe effectiveunlessthesame shallbein writing,and thensuchwaiverorconsent shallbe effective onlyin thespecified instance and for the specificpurposeforwhich given.
(c)Notices. Any notice, request, demand or other communication required or permittedhereundershallbegiven in writingbydelivering thesamein person to the intended addressee, byovernightcourier service with guaranteed next day deliveryorby certified UnitedStatesMail,postage prepaidandreturn receipt requested,sentto the intended addressee at the applicable address set forthonPage 1 hereofortosuchdifferent address aseitherDebtoror Secured Partiesshallhave designated bywritten notice tothe othersentin accordance herewith.Suchnotices shallbe deemedgivenwhen receivedor,ifearlier,inthe caseof deliveryby courier servicewithguaranteednextdaydelivery,the next dayorthedaydesignated for delivery, or in the case of delivery by certifiedUnited Statesmail,fivedaysafterdeposit therein.
(d)Construction. Unless the context ofthisAgreementotherwise clearly
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requires,referencesto thepluralinclude the singular,thesingular the plural,and the partthe whole, and "or"has the inclusivemeaning represented by thephrase"and/or."The words "hereof," "herein," "hereunder"and similar termsinthisAgreement refertothis Agreement as awholeand not toany particular provision ofthisAgreement.Thesection and otherheadingscontainedin thisAgreementareforreference purposesonlyandshallnotcontrol or affect the constructionofthisAgreementor the interpretation hereof in any respect.Section, subsection and exhibitreferences are to thisAgreementunlessotherwisespecified.
(e)Counterparts. ThisAgreement may beinany number ofcounterparts, eachofwhich willbe deemed anoriginal, but allof whichtogetherwill constituteone instrument.In the event thatany signature is delivered byfacsimiletransmission or byemaildeliveryofaPDF format data file,such signatureshall create avalidand binding obligation of the partyexecuting (or onwhose behalfsuchsignature is executed)with thesameforce andeffect asifsuch facsimile orPDF signature page were anoriginal.
(f)Governing Law.TheCode shallgovern the attachment, perfection and theeffectof attachment and perfection of the Secured Parties' interest in the Collateral, and the rights, duties andobligationsof Debtor and theSecured Partieswith respect thereto.ThisAgreementshall be deemed to be a contract under thelaws ofthe State of Illinois, and theexecution anddelivery hereof and,to the extent notinconsistentwiththe preceding sentence, the terms and provisions hereof,shallbegovernedby and construed in accordance with the lawsoftheState of Illinois.
(g)Survival.All representations,warranties, covenantsand agreements contained hereinormade in writing in connection herewith shall survivetheexecution and deliveryofthisAgreementandthe extensionofthe Loan.
INWITNESSWHEREOF,the parties have executedthisAgreementunder sealthe day andyear first abovewritten.
ACQUIRED SALES CORP.
By /s/ Richard E. Morrissy
Richard E. Morrissy, Director
Pursuant to a unanimous consent of the Audit Committee, the Compensation
Committee, and the full Board of Directors of Acquired Sales Corp. given on July 12 and 13, 2018 (the "Unanimous Consent"), and further
Pursuant to approval of Richard E. Morrissy, representing the Compensation Committee and the full Board of Directors of Acquired Sales Corp. as provided in the Unanimous Consent, given on July 14, 2018
/s/ Joshua A. Bloom
Joshua A. Bloom
/s/ Gerard M. Jacobs
Gerard M. Jacobs
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