Earnest Money. Purchaser shall deposit, within two (2) Business Days following the Effective Date (as defined in Section 12.16 below), the sum of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Deposit” or “Earnest Money”) with Chicago Title Insurance Company, 10 South LaSalle Street, Suite 3100, Chicago, Illinois 60603 (the “Title Company”), Division II, phone: ​; attention: Kathy McCoy (“Escrow Agent”). The Title Company shall hold the Deposit in escrow in an interest-bearing account reasonably acceptable to Purchaser, in accordance with the terms and conditions of this Contract. Purchaser agrees to pay and satisfy the balance of the Purchase Price, reduced by the Earnest Money paid to Seller, at the time of Closing by wire transfer of immediately available funds. If this Contract is terminated prior to the Closing, the Earnest Money shall be delivered to Seller or returned to Purchaser by the Title Company, as provided for in this Contract. If Purchaser fails to deposit the Earnest Money as required herein, and such failure continues for a period of one (1) day after written notice from Seller, then Seller may terminate this Contract by written notice to Purchaser at any time prior to the deposit of the Earnest Money. Any interest earned on the Deposit shall inure to the benefit of the Purchaser and same shall be credited to the Purchaser at the Closing.

Disposition of Earnest Money. The Earnest Money shall be applied as a credit to the Purchase Price at Closing. However, if ​ elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.5, Escrow Agent shall pay the entire Earnest Money to ​ one (1) business day following receipt of the Due Diligence Termination Notice from ​ (as long as the current investment can be liquidated and disbursed in one business day). No notice to Escrow Agent from ​ shall be required for the release of the Earnest Money to ​ by Escrow Agent if ​ terminates this Agreement prior to the expiration of the Inspection Period pursuant to Section 4.5. In the event of a termination of this Agreement by either ​ or ​ for any reason other than pursuant to Section 4.5, Escrow Agent is authorized to deliver the Earnest Money to the party hereto entitled to same pursuant to the terms hereof on or before the tenth (10th) business day following receipt by Escrow Agent and the non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest Money. In such event, Escrow Agent may interplead the Earnest Money into a court of competent jurisdiction in the county in which the Earnest Money has been deposited. All attorneys’ fees and costs and Escrow Agent’s costs and expenses incurred in connection with such interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Money is distributed in part to both parties, then in the inverse proportion of such distribution.

Investments consisting of earnest money deposits required in connection with a Permitted Acquisition or consisting of earnest money deposits required in connection with an acquisition of property permitted hereunder;

Upon deposit, the Earnest Money shall become non-refundable unless this Agreement has been terminated by ​ pursuant to a provision in this Agreement which expressly entitles ​ to a return of the Earnest Money;

Within two (2) business days after execution of this Agreement, Buyer shall deliver to the Escrow Agent an additional $100,000.00 earnest money deposit, which shall be considered earnest money for all purposes under this Agreement.

Waiver of Contingencies. ​ acknowledges timely receipt of ​'s Title Response pursuant to Section 3 of the Agreement, and waives its right under said Section 3 to terminate the Agreement in response thereto and receive a return of the Earnest Money. Further, ​ acknowledges the expiration of its right to terminate the Agreement and receive a refund of the Earnest Money pursuant to Section 4 of the Agreement. The Earnest Money is wholly non-refundable, unless the Agreement is terminated by ​ pursuant to another provision in the Agreement which expressly entitles ​ to a return of the Earnest Money.

Within three (3) business days of the Effective Date of this Agreement, Buyer will deposit $40,000 (the "Earnest Money") into an interest-bearing account with First American Title Insurance Company, 1125 17th Street, Denver, Colorado, 80202, Attn: Jordan Dunn; phone number: ​; email: ​ (the "Closing Agent" or "Title Company"). Upon expiration of the Review Period (as defined below), Earnest Money shall become non-refundable. The Earnest Money shall

Within one (1) business day following the expiration of the Due Diligence Period, as hereinafter defined, the ​ shall deliver an additional sum of Three Hundred Thousand and 00/100 ($300,000.00) Dollars to Escrow Agent by federally wired “immediately available” funds to be held in escrow by the Escrow Agent (such additional deposit together with the initial Earnest Money deposit shall, following such deposit, be deemed the “Earnest Money” hereunder).

the balance of the Purchase Price, reduced by the Earnest Money on deposit with the Title Company and paid to Seller at Closing;

Liens on cash earnest money deposits or other escrow arrangements made in connection with any letter of intent or purchase agreement in connection with a Permitted Acquisition;