Common use of FORM OF PERFECTION CERTIFICATE SUPPLEMENT Clause in Contracts

FORM OF PERFECTION CERTIFICATE SUPPLEMENT. Reference is made to the Loan, Security and Guaranty Agreement dated as of January 12, 2011, as amended (“Loan Agreement”), among Transport Corporation of America, Inc., a Minnesota corporation (“TCAM”), TCA of Ohio, Inc., a Minnesota corporation (“TCAO”), TA Logistics, Inc., a Minnesota corporation (“TA Logistics”), FV Leasing Company, a Minnesota corporation (“FV Leasing”). Southern Cal Transport, Inc. (f/k/a Saints Acquisition, Inc.), an Alabama corporation (“SoCal”), Xxxxx Leasing, LLC, an Alabama limited liability company (“Xxxxx;” TCAM, TCAO, TA Logistics, FV Leasing, SoCal and Xxxxx each, individually, a “Borrower” and, collectively, “Borrowers”), Patriot Holding Corp., a Minnesota corporation (the “Parent” and together with the Borrowers and such other persons as may from time to time be parties to the Loan Agreement as “Borrowers” and/or “Guarantors,” the “Grantors”), the lending institutions party thereto (the “Lenders”), and Bank of America, N.A., as agent for the Lenders (in such capacity, “Agent”) and as Issuing Bank. Capitalized terms used but not defined herein have the meanings set forth in the Loan Agreement. The undersigned, as Loan Party Agent, hereby certifies to Agent, each Lender and the Issuing Bank that, as of the date hereof, there has been no change in the information described in the Perfection Certificate delivered on the Closing Date (as supplemented by any perfection certificate supplements delivered prior to the date hereof, the “Prior Perfection Certificate”), other than as follows:

FORM OF PERFECTION CERTIFICATE SUPPLEMENT. Reference is hereby made to the Loanthat certain Security Agreement, Security and Guaranty Agreement dated as of January 12October 15, 2011, as amended 2018 (the “Loan Security Agreement”), among Transport Corporation of America, Inc., a Minnesota corporation (“TCAM”), TCA of Ohio, Inc., a Minnesota corporation (“TCAO”), TA Logistics, Inc., a Minnesota corporation (“TA Logistics”), FV Leasing X.X. Xxxxxxxxx & Sons Company, a Minnesota corporation (“FV Leasing”). Southern Cal Transport, Inc. (f/k/a Saints Acquisition, Inc.), an Alabama corporation (“SoCal”), Xxxxx Leasing, LLC, an Alabama limited liability company (“Xxxxx;” TCAM, TCAO, TA Logistics, FV Leasing, SoCal and Xxxxx each, individually, a “Borrower” and, collectively, “Borrowers”), Patriot Holding Corp., a Minnesota Delaware corporation (the “Parent” and together with the Borrowers and such other persons as may from time to time be parties to the Loan Agreement as “Borrowers” and/or “Guarantors,” the “GrantorsBorrower”), the lending institutions guarantors party thereto and the Administrative Agent (as hereinafter defined), (ii) that certain Pledge Agreement, dated as of October 15, 2018, among the Specified Pledgor and the Administrative Agent and (iii) that certain Credit Agreement dated as of October 15, 2018 (the “Credit Agreement”) among the Borrower, guarantors party thereto (the “LendersGuarantors”), certain other parties thereto and Bank of America, N.A., as collateral agent for the Lenders and as administrative agent (in such capacitycapacities, the “Agent”) and (in each case as Issuing Bankto the agreements referenced in clauses (i) through (iii), as the same may be amended, modified, supplemented or otherwise modified on or prior to the date hereof). This Perfection Certificate Supplement, dated as of [ ] [ ], 20[ ], is delivered pursuant to Section 5.01(f) of the Credit Agreement. Capitalized terms used but not defined herein have the meanings set forth assigned in the Loan Credit Agreement. This Perfection Certificate Supplement constitutes a Perfection Certificate Supplement as defined in the Credit Agreement. Pledged Collateral has the meaning assigned to such term in the Security Agreement, and as used herein, the term “Companies” means the Borrower and each of the Guarantors, and with respect to Sections 1(a), (b) and (c), Section 2(a), 3, 4, 5, 6, 8 and 9, also includes each Specified Pledgor. The undersigned, as Loan Party Agentthe [ ] of the Borrower, hereby certifies to Agent, each Lender and the Issuing Bank Agent that, as of the date hereof, there has been no change in the information described in the Perfection Certificate delivered on the Closing Date (as supplemented by any perfection certificate supplements delivered prior to the date hereof, the “Prior Perfection Certificate”), other than as follows:

FORM OF PERFECTION CERTIFICATE SUPPLEMENT. Reference This Perfection Certificate Supplement, dated as of [ ], 20[ ], is made delivered pursuant to the LoanSection 6.16(b) of that certain Credit Agreement, Security and Guaranty Agreement dated as of January 1218, 20112013 (as amended, as amended restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among AMERICAN RESIDENTIAL PROPERTIES, INC., a Maryland corporation (the “Loan AgreementParent”), among Transport Corporation of America, Inc., a Minnesota corporation (“TCAM”), TCA of Ohio, Inc., a Minnesota corporation (“TCAO”), TA Logistics, Inc., a Minnesota corporation (“TA Logistics”), FV Leasing Company, a Minnesota corporation (“FV Leasing”). Southern Cal Transport, Inc. (f/k/a Saints Acquisition, Inc.), an Alabama corporation (“SoCal”), Xxxxx LeasingAMERICAN RESIDENTIAL GP, LLC, an Alabama a Delaware limited liability company (“Xxxxx;” TCAM, TCAO, TA Logistics, FV Leasing, SoCal and Xxxxx each, individually, a “Borrower” and, collectively, “BorrowersAmerican Residential GP”), Patriot Holding Corp.AMERICAN RESIDENTIAL PROPERTIES OP, L.P., a Minnesota corporation Delaware limited partnership (the “Parent” and together with Operating Partnership”), AMERICAN RESIDENTIAL LEASING COMPANY, LLC (the Borrowers and such other persons as may “Borrower”), AMERICAN RESIDENTIAL PROPERTIES TRS, LLC, a Delaware limited liability company (“American Residential TRS”), the Subsidiaries of the Operating Partnership from time to time be parties to the Loan Agreement as “Borrowers” and/or “Guarantors,” the “Grantors”), the lending institutions party thereto (the “Lenders”)as guarantors, and Bank of AmericaBANK OF AMERICA, N.A., as agent for Administrative Agent and L/C Issuer and the Lenders (in such capacity, “Agent”) and as Issuing Bankparty thereto. Capitalized terms used but not defined herein have the meanings set forth assigned in the Loan Credit Agreement. As used herein, the term “Companies” means, collectively, the Parent, American Residential GP, the Operating Partnership, the Borrower and each of the Operating Partnership’s other Subsidiaries (other than Excluded Subsidiaries). The undersigned, as Loan Party Agentthe [ ] of the Parent, hereby certifies to Agent, each Lender the Administrative Agent and the Issuing Bank Lenders that, as of the date hereof, there has been no change in the information described in the Perfection Certificate delivered on the Closing Date (as supplemented by any perfection certificate supplements delivered prior to the date hereof, the “Prior Perfection Certificate”), other than as follows: