New Moyer Maurice J. Moyer Academy, Inc. (New Moyer) Debt Service 600 and 611 E.

17th Street, Wilmington, DE (the Property) New Moyer has a lease (the Lease) with Reinvestment II, LLC (REII) to use the school building and related facilities located at the Property. The Base Rent under the Lease is $25,000.00 a month REII currently owns the Property subject to a mortgage in favor of The Reinvestment Fund, Inc. (TRF) TRF brought mortgage foreclosure proceedings against the Property and a Sheriffs Sale was conducted on July 9, 2013 There were no bidders at the Sheriffs Sale so TRF was deemed the successful bidder On August 19th, the Superior Court will confirm the Sheriffs Sale and a deed will be prepared and recorded transferring the Property to TRF All liens (i.e., mechanics liens, mortgages, etc.) will be wiped away following the transfer of the Property to TRF. New Moyer will continue to lease the Property pursuant to the Lease. Once TRF owns the Property, free and clear of all liens, it will be able to sell the Property to New Moyer. New Moyer will purchase the Property with a loan from K12, Inc. in the amount of $2,100,000 (the Loan). The term of the Loan is 5 years with monthly payments of approximately $14,150 based upon a 20 year amortization schedule. There is a balloon payment due at the end of the 5 year term. MONTHLY DEBT SERVICE UNDER LEASE o $25,000 (Monthly Lease Payment) MONTHLY DEBT SERVICE UNDER LOAN o $14,150 (Monthly Loan Payment)

FIRST AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT THIS FIRST AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT (this "Agreement"), is made this 28 th day of June, 2013, by and between THE NEW MAURICE J. MOYER ACADEMY, INC., a Delaware non-profit non-stock corporation Herereinafter called "Tenant"), and REINVESTMENT II, LLC, a Pennsylvania limited liability company (Hereinafter called "Landlord'). RECITALS WHEREAS, Landlord and Tenant are parties to a certain Amended and Restated Lease Agreement executed and delivered as of October l5,20l2,but having an effective date ofAugust l, 2012 (as amended, supplemented, restated or otherwise modified, the "lease'), pursuant to which Tenant leases certain land located upon Tax Parcel Nos. 26-029.40-027 and 26029.40-028, known as 600 and 611 E. 17th Street, Wilmington, Delaware, and the improvements thereon consisting of two school buildings and related facilities ;and WHEREAS, the Lease term expires June 30,2013, and Landlord and Tenant desire to extend the term of said Lease for three (3) additional months, pursuant to all of the terms and conditions of the Lease as expressly modified hereby. AGREEMENTS NOW, THEREFORE, in consideration of ttre foregoing and of the mutual promises hereinafter contained, the parties, intending to be legally bound, agree with each other as follows: 1. The Recitals above are a part of this Agreement. Unless otherwise expressly defined in this Agreement, terms defined in the Lease shall have the same meaning under this Agreement. 2. Tenant hereby represents and warrants that (a) it is a non-profit corporation duly organized, existing and in good standing under the laws of the State of Delaware, (b) it has the power, authority and legal right to execute and deliver this Agreement and to engage in the transactions contemplated hereby, (c) this Agreement has been duly executed and delivered by Tenant, (d) the person signing this Agreement on behalf of Tenant has the necessary authority to do so, and (e) the execution and delivery of, and the carrying out of the transactions contemplated by, this Agreement and the Lease, and the performance and observance of the terms and conditions thereof, have been duly authorizedby all necessary organizational action by and on behalf of Tenant. 3. The Tenant further represents and warrants that no Default or Event of Default and no event which, with notice, lapse of time or both would constitute an Event of Default, has occurred and is continuing under the Lease. 4. The Term of the Lease is hereby extended for a further period of three (3) months, commencing July 7,2013, and expiring at 5:00 p.m. on September 30,2013, unless the Lease is sooner terminated in accordance with its terms. 5. Except as expressly modified by this Agreement, the parties ratify and confirm each and every provision of the Lease all of which shall remain in full force and effect. The #4836-63 l 9-2084 parties agree that the execution of this Agreement is not intended to and shall not cause or result in a novation with regard to the Lease. 6. The provisions of this Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of Delaware as the same may be in effect from time to time. This Agreement shall be binding upon and shall insure to the benefit of the parties hereto and their successors and assigns. This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original, and it shall not be necessary that the signature

of, or on behalf of, each party, or that the signatures of the persons required to bind any party, appear on more than one counterpart. 7. The parties agree that their respective signatures to this Agreement may be delivered by fax or .pdf. Any party who chooses to deliver its signature by fax or .pdf agrees to provide a counterpart of this Agreement with its inked signature to the other party, but the failure to deliver any such inked original signature shall in no way affect the validity, effectiveness or enforceability of this Agreement.