On July 2, 2013, Microwave Filter Co. Inc. entered into a Ten Year Term Loan with KeyBank National Association in the amount of $500,000.00. The amount of all advances outstanding together with accrued interest there on shall be due and payable on July 2, 2023 ("Maturity").

The Company shall pay interest on the outstanding principal balance of this Note at the rate per annum equal to 4.5%. The net proceeds from the Term Loan will be available to provide working capital as needed. The company has secured this Note by: (a) a Mortgage, Assignment of Rents, Security Agreement and Fixture Filing which creates a 1 lien on real property situate in the Town of Dewitt, County of Onondaga, and State of New York and known as 6743 Kinne Street, East Syracuse, New York; (b) a General Assignment of Rents and Leases; (c) an Environmental Compliance and Indemnification; and (d) such other security as may now or hereafter be given to Lender as collateral for the loan.