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Canada Emergency Business Account $20,000 expansion Terms and Conditions

By applying for and subject to receiving this Canada Emergency Business Account (“CEBA”) expansion funding from Tandia Financial Credit Union Limited (“the Credit Union”), the Borrower acknowledges and agrees the $20,000 expansion is an additional $20,000 owing to the Credit Union and such amount will be added to the existing CEBA loan amount (such aggregate amount referred to herein as the “Aggregate Loan Amount”) the Borrower had previously agreed to borrow and repay pursuant to its accepted and signed Canada Emergency Business Account Commercial Term Loan Agreement (the “CEBA Agreement”), and this $20,000 expansion shall be subject to the terms and condition of the CEBA Agreement and other all related documents.

Per the Government of Canada CEBA loan program, the repayment of the existing CEBA loan amount and this additional $20,000 expansion is combined.

The Borrower will be required to make one repayment amount to be eligible for the applicable forgiveness amount.

If the Borrower’s Aggregate Loan Amount is $40,000 or less and the Borrower repays an amount equal to 75% of the Aggregate Loan Amount by December 31, 2022, the remaining 25% of the Aggregate Loan Amount will be forgiven as per the CEBA loan program. In this case, the maximum forgiveness amount that the Borrower will be eligible to receive is $10,000. If more than 25% of the Aggregate Loan Amount is outstanding by December 31, 2022, the balance owing will be converted to interest only monthly payments at 5.0% as noted in the CEBA Agreement. NOTE THAT IF THIS IS THE CASE, THE BORROWER WILL NOT BE ELIGIBLE FOR THE APPLICABLE FORGIVENESS ON ITS AGGREGATE LOAN AMOUNT.

If the Borrower’s Aggregate Loan Amount is greater than $40,000 and the Borrower repays an amount equal to 75% of the first $40,000 of the Aggregate Loan Amount and 50% of any remaining Aggregate Loan Amount above the first $40,000 by December 31, 2022, 25% of the first $40,000 of the Aggregate Loan Amount and 50% of any remaining Aggregate Loan Amount above the first $40,000 will be forgiven as per the CEBA loan program. In this case, the maximum forgiveness amount that the Borrower will be eligible to receive is $20,000. If more than 25% of the first $40,000 Aggregate Loan Amount OR more than 50% of any remaining Aggregate Loan Amount above the first $40,000 is outstanding by December 31, 2022, the balance owing will be converted to interest only monthly payments at 5.0% as noted in the CEBA Agreement. NOTE THAT IF THIS IS THE CASE, THE BORROWER WILL NOT BE ELIGIBLE FOR THE APPLICABLE FORGIVENESS ON ITS AGGREGATE LOAN AMOUNT.

Other than as expressly set out herein, all other details, information and the terms and conditions in the CEBA Agreement, including but not limited to the Payment Schedule and Comments sections and any other documents provided to the Credit Union in connection with the CEBA Agreement, remain unchanged and in full force and effect. The Borrower acknowledges, agrees and confirms that it has read, understands and accepts these terms and conditions.

The Borrower further acknowledges it has a copy of the CEBA Agreement and related Schedules and Comments and has read, understands and accepts therein.