Exhibit 10.28

SECOND AMENDMENT TO TERM LOAN AGREEMENT

This Second Amendment to  Term Loan Agreement (“Second Amendment”) is made as of
the 18th day of January, 2019, by and among MCGINNIS FERRY OWNER, LLC, a Georgia
limited liability company (the “Borrower”), and FIRSTBANK, a Tennessee state
bank, whose address is 6815 Poplar Avenue, Suite 100, Memphis, Tennessee 38138
(hereinafter referred to as the “Bank”).

WHEREAS, the parties entered into a certain Term Loan Agreement, dated as of
August 17, 2018, with respect to a Loan from Bank to Borrower in the amount of
Eight Million Six Hundred Twenty Five Thousand and No/100ths Dollars
($8,625,000.00), as amended by that certain Amendment to Term Loan Agreement
dated August 17, 2018 (collectively, the “Loan Agreement”);

WHEREAS, the Borrower has entered into an amended and restated credit agreement,
and the parties desire to update the Loan Agreement to reference this new credit
agreement.

NOW THEREFORE, for and in consideration of the foregoing premises, the parties
hereto agree as follows:

1.

Notwithstanding anything to the contrary in the Loan Agreement, from the date of
this Second Amendment forward, the term “Credit Agreement”, as defined in the
Loan Agreement, shall mean “the First Amended and Restated Credit Agreement
dated as of December 28, 2018 by and among Guarantor, Jernigan Capital, Inc.,
KeyBank National Association, Raymond James Bank, N.A., Trustmark National Bank,
FirstBank, Triumph Bank, Renasant Bank, Pinnacle Bank, and BMO Harris Bank N.A.”

2.

As modified hereby, the Loan Agreement is ratified and confirmed and shall
remain in full force and effect.

[Signature page follows]

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[Signature Page to Second Amendment to Term Loan Agreement]

IN WITNESS WHEREOF, the Borrower and the Bank have executed this Second
Amendment, or have caused this Second Amendment to be executed by their duly
authorized officers, all as of the day and year first above written.

BORROWER:

 

MCGINNIS FERRY OWNER, LLC,  

a Georgia limited liability company

 

By: MCGINNIS FERRY PARENT, LLC, a Georgia limited liability company, its sole
member and manager

 

By: JERNIGAN CAPITAL OPERATING COMPANY, LLC, a Delaware limited liability
company, its managing member and manager

 

By: JERNIGAN CAPITAL, INC., a Maryland corporation, its managing member

 

By: /s/ Kelly Luttrell

Name: Kelly Luttrell

Title: SVP CFO

 

 

BANK:

 

FIRSTBANK, a Tennessee state bank

 

 

By: /s/ Bill Harter

Name: Bill Harter

Title: Senior Vice President

 

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