Document:

jcap_Ex10_25

		

			Exhibit 10.25

		

		
			AMENDMENT TO TERM LOAN AGREEMENT
		

		
			This Amendment to  Term Loan Agreement (“Amendment”) is made as of the 17th day of August, 2018, 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) (the “Loan Agreement”); and
		

		
			WHEREAS, Section 8.1(g) of the Loan Agreement contained a capitalized term, "Key Bank Line," which had not been defined in the Loan Agreement.
		

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

			
	
			
				 1.
			

			
	
			
			Section 8.1(g) of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 

		
			(g)A default under the Credit Agreement, as it may be amended from time to time, that results in an acceleration of the outstanding obligations of the Guarantor, as borrower under the Credit Agreement, as the Credit Agreement may be amended from time to time.
		

			
	
			
				 2.
			

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

		
			[Signature page follows]
		

		
			

		 

 

[Signature Page to Amendment to Term Loan Agreement]
		

		
			IN WITNESS WHEREOF, the Borrower and the Bank have executed this Amendment, or have caused this 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 Presidentjcap_Ex10_26

		

			Exhibit 10.26

		

		
			AMENDMENT TO TERM LOAN AGREEMENT
		

		
			This Amendment to  Term Loan Agreement (“Amendment”) is made as of the 17th day of August, 2018, by and among FRANKLIN 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 Seven Million One Hundred Twenty Five Thousand and No/100ths Dollars ($7,125,000.00) (the “Loan Agreement”); and
		

		
			WHEREAS, Section 8.1(g) of the Loan Agreement contained a capitalized term, "Key Bank Line," which had not been defined in the Loan Agreement.
		

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

			
	
			
				 1.
			

			
	
			
			Section 8.1(g) of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 

		
			(g)A default under the Credit Agreement, as it may be amended from time to time, that results in an acceleration of the outstanding obligations of the Guarantor, as borrower under the Credit Agreement, as the Credit Agreement may be amended from time to time.
		

			
	
			
				 2.
			

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

		
			[Signature page follows]
		

		
			

		 

 

[Signature Page to Amendment to Term Loan Agreement]
		

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

		
			BORROWER:
		

		
			 
		

		
			FRANKLIN OWNER, LLC,  
		

		
			a Georgia limited liability company
		

		
			 
		

		
			By: FRANKLIN 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 Presidentjcap_Ex10_27

		

			Exhibit 10.27

		

		
			AMENDMENT TO TERM LOAN AGREEMENT
		

		
			This Amendment to  Term Loan Agreement (“Amendment”) is made as of the 17th day of August, 2018, by and among STORAGE BUILDERS II LLC, a Delaware 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 Nine Million One Hundred Fifty Thousand and No/100ths Dollars ($9,150,000.00) (the “Loan Agreement”); and
		

		
			WHEREAS, Section 8.1(g) of the Loan Agreement contained a capitalized term, "Key Bank Line," which had not been defined in the Loan Agreement.
		

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

			
	
			
				 1.
			

			
	
			
			Section 8.1(g) of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 

		
			(g)A default under the Credit Agreement, as it may be amended from time to time, that results in an acceleration of the outstanding obligations of the Guarantor, as borrower under the Credit Agreement, as the Credit Agreement may be amended from time to time.
		

			
	
			
				 2.
			

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

		
			[Signature page follows]
		

		
			

		 

 

[Signature Page to Amendment to Term Loan Agreement]
		

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

		
			BORROWER:
		

		
			 
		

		
			STORAGE BUILDERS II LLC, a Delaware limited liability company
		

		
			 
		

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

		
			 
		

		
			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 Presidentjcap_Ex10_28

		

			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]
		

		
			

		 

 

[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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