Document:

Exhibit 10.5

 

INDEMNIFICATION
AGREEMENT

 

This INDEMNIFICATION AGREEMENT (this “Agreement”)
is entered into as of ____________, by and among JERNIGAN CAPITAL, INC., a Maryland corporation (the “Company”
or the “Indemnitor”) and ________ (the “Indemnitee”).

 

WHEREAS, the Indemnitee
is a member of the Board of Directors of the Company and in such capacity is performing a valuable service for the Company;

 

WHEREAS, Maryland law permits
the Company to enter into contracts with its officers or members of its Board of Directors with respect to indemnification of,
and advancement of expenses to, such persons;

 

WHEREAS, the Articles of
Amendment and Restatement of the Company (the “Charter”) provide that the Company shall indemnify and advance
expenses to its directors and officers to the maximum extent permitted by Maryland law in effect from time to time;

 

WHEREAS, the Amended and
Restated Bylaws of the Company (the “Bylaws”) provide that each director and officer of the Company shall be
indemnified by the Company to the maximum extent permitted by Maryland law in effect from time to time and shall be entitled to
advancement of expenses consistent with Maryland law; and

 

WHEREAS, to induce the
Indemnitee to provide services to the Company as a member of the Board of Directors, and to provide the Indemnitee with specific
contractual assurance that indemnification will be available to the Indemnitee regardless of, among other things, any amendment
to or revocation of the Charter or the Bylaws, or any acquisition transaction relating to the Company, the Indemnitor desires to
provide the Indemnitee with protection against personal liability as set forth herein.

 

NOW, THEREFORE, in consideration
of the premises and the covenants contained herein, the Indemnitor and the Indemnitee hereby agree as follows:

 

		1.	DEFINITIONS.

 

For purposes of this Agreement:

 

		(a)	“Change in Control” shall have the meaning ascribed to it by the Company’s
2015 Equity Incentive Plan or any equity incentive or stock compensation plan adopted by the Board of Directors and approved by
the stockholders of the Company that may later replace the Company’s 2015 Equity Incentive Plan.

 

		(b)	“Corporate Status” describes the status of a person who is or was a director
or officer of the Company or is or was serving at the request of the Company as a director, officer, partner (limited or general),
member, director, employee or agent of any other foreign or domestic corporation, partnership, joint venture, limited liability
company, trust, other enterprise (whether conducted for profit or not for profit) or employee benefit plan. The Company shall be
deemed to have requested the Indemnitee to serve an employee benefit plan where the performance of the Indemnitee’s duties
to the Company also imposes or imposed duties on, or otherwise involves or involved services by, the Indemnitee to the plan or
participants or beneficiaries of the plan.

 

    	 

    	 

    

 

		(c)	“Expenses” shall include all attorneys’ and paralegals’ fees, retainers,
court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone
charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection
with prosecuting, defending, preparing to prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding.

 

		(d)	“Proceeding” includes any action, suit, arbitration, alternate dispute resolution
mechanism, investigation (including any internal investigation), administrative hearing, or any other proceeding, including appeals
therefrom, whether civil, criminal, administrative, or investigative, except one initiated by the Indemnitee pursuant to paragraph
8 of this Agreement to enforce such Indemnitee’s rights under this Agreement.

 

		(e)	“Special Legal Counsel” means a law firm, or a member of a law firm, that is
experienced in matters of corporation law and neither presently is, or in the past two years has been, retained to represent (i)
the Indemnitor or the Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving
rise to a claim for indemnification hereunder.

 

		2.	INDEMNIFICATION.

 

The Indemnitee shall be
entitled to the rights of indemnification provided in this paragraph 2 and under applicable law, the Charter, the Bylaws, any other
agreement, a vote of stockholders or resolution of the Board of Directors or otherwise if, by reason of such Indemnitee’s
Corporate Status, such Indemnitee is, or is threatened to be made, a party to any threatened, pending, or completed Proceeding,
including a Proceeding by or in the right of the Company. Unless prohibited by paragraph 13 hereof and subject to the other provisions
of this Agreement, the Indemnitee shall be indemnified hereunder, to the maximum extent permitted by Maryland law in effect from
time to time, against judgments, penalties, fines, liabilities, and settlements and reasonable Expenses actually incurred by or
on behalf of such Indemnitee in connection with such Proceeding or any claim, issue or matter therein; provided, however, that
if such Proceeding was initiated by or in the right of the Company, indemnification may not be made in respect of such Proceeding
if the Indemnitee shall have been finally adjudged to be liable to the Company. For purposes of this paragraph 2, excise taxes
assessed on the Indemnitee with respect to an employee benefit plan pursuant to applicable law shall be deemed fines.

 

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		3.	EXPENSES OF A SUCCESSFUL PARTY.

 

Without limiting the effect
of any other provision of this Agreement, including the rights provided for in paragraphs 2 and 4 hereof, and without regard to
the provisions of paragraph 6 hereof, to the extent that the Indemnitee is, by reason of such Indemnitee’s Corporate Status,
a party to and is successful, on the merits or otherwise, in any Proceeding pursuant to a final non-appealable order, such Indemnitee
shall be indemnified against all reasonable Expenses actually incurred by or on behalf of such Indemnitee in connection therewith.
If the Indemnitee is not wholly successful in such Proceeding pursuant to a final non-appealable order but is successful, on the
merits or otherwise, as to one or more but less than all claims, issues, or matters in such Proceeding pursuant to a final non-appealable
order, the Indemnitor shall indemnify the Indemnitee against all reasonable Expenses actually incurred by or on behalf of such
Indemnitee in connection with each successfully resolved claim, issue or matter. For purposes of this paragraph and without limitation,
the termination of any claim, issue or matter in such Proceeding by dismissal, with or without prejudice, shall be deemed to be
a successful result as to such claim, issue or matter.

 

		4.	ADVANCEMENT OF EXPENSES.

 

Notwithstanding anything
in this Agreement to the contrary, but subject to paragraph 13 hereof, if the Indemnitee is or was or becomes a party to or is
otherwise involved in any Proceeding (including as a witness), or is or was threatened to be made a party to or a participant (including
as a witness) in any such Proceeding, by reason of the Indemnitee’s Corporate Status, or by reason of (or arising in part
out of) any actual or alleged event or occurrence related to the Indemnitee’s Corporate Status, or by reason of any actual
or alleged act or omission on the part of the Indemnitee taken or omitted in or relating to the Indemnitee’s Corporate Status,
then the Indemnitor shall advance all reasonable Expenses incurred by the Indemnitee in connection with any such Proceeding within
twenty (20) days after the receipt by the Indemnitor of a statement from the Indemnitee requesting such advance from time to time,
whether prior to or after final disposition of such Proceeding; provided that, such statement shall reasonably evidence the Expenses
incurred or to be incurred by the Indemnitee and shall include or be preceded or accompanied by (i) a written affirmation by the
Indemnitee of the Indemnitee’s good faith belief that the standard of conduct necessary for indemnification by the Indemnitor
as authorized by this Agreement has been met and (ii) a written undertaking by or on behalf of the Indemnitee to repay the amounts
advanced if it should ultimately be determined that the standard of conduct has not been met. The undertaking required by clause
(ii) of the immediately preceding sentence shall be an unlimited general obligation of the Indemnitee but need not be secured and
may be accepted without reference to financial ability to make the repayment.

 

		5.	WITNESS EXPENSES.

 

Notwithstanding any other
provision of this Agreement, to the extent that the Indemnitee is, by reason of such Indemnitee’s Corporate Status, a witness
for any reason in any Proceeding to which such Indemnitee is not a named defendant or respondent, such Indemnitee shall be indemnified
by the Indemnitor against all Expenses actually incurred by or on behalf of such Indemnitee in connection therewith.

 

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		6.	DETERMINATION OF ENTITLEMENT TO AND AUTHORIZATION OF INDEMNIFICATION.

 

		(a)	To obtain indemnification under this Agreement, the Indemnitee shall submit to the Indemnitor a
written request, including therewith such documentation and information reasonably necessary to determine whether and to what extent
the Indemnitee is entitled to indemnification.

 

		(b)	Indemnification under this Agreement may not be made unless authorized for a specific Proceeding
after a determination has been made in accordance with this paragraph 6(b) that indemnification of the Indemnitee is permissible
in the circumstances because the Indemnitee has met the following standard of conduct: the Indemnitor shall indemnify the Indemnitee
in accordance with the provisions of paragraph 2 hereof, unless it is established that: (a) the act or omission of the Indemnitee
was material to the matter giving rise to the Proceeding and (x) was committed in bad faith or (y) was the result of active and
deliberate dishonesty; (b) the Indemnitee actually received an improper personal benefit in money, property or services; or (c)
in the case of any criminal proceeding, the Indemnitee had reasonable cause to believe that the act or omission was unlawful. Upon
receipt by the Indemnitor of the Indemnitee’s written request for indemnification pursuant to subparagraph 6(a), a determination
as to whether the applicable standard of conduct has been met shall be made within the period specified in paragraph 6(e): (i)
if a Change in Control shall have occurred, by Special Legal Counsel in a written opinion to the Board of Directors, a copy of
which shall be delivered to the Indemnitee, with Special Legal Counsel selected by the Indemnitee (the Indemnitee shall give prompt
written notice to the Indemnitor advising the Indemnitor of the identity of the Special Legal Counsel so selected); or (ii) if
a Change in Control shall not have occurred, (A) by the Board of Directors by a majority vote of a quorum consisting of directors
not, at the time, parties to the Proceeding, or, if such quorum cannot be obtained, then by a majority vote of a committee of the
Board of Directors consisting solely of two or more directors not, at the time, parties to such Proceeding and who were duly designated
to act in the matter by a majority vote of the full Board of Directors in which the designated directors who are parties may participate,
(B) if the requisite quorum of the full Board of Directors cannot be obtained therefor and the committee cannot be established
(or, even if such quorum is obtainable or such committee can be established, if such quorum or committee so directs), by Special
Legal Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, with Special Legal
Counsel selected by the Board of Directors or a committee of the Board of Directors by vote as set forth in clause (ii)(A) of this
paragraph 6(b) (or, if the requisite quorum of the full Board of Directors cannot be obtained therefor and the committee cannot
be established, by a majority of the full Board of Directors in which directors who are parties to the Proceeding may participate)
(if the Indemnitor selects Special Legal Counsel to make the determination under this clause (ii), the Indemnitor shall give prompt
written notice to the Indemnitee advising him or her of the identity of the Special Legal Counsel so selected) or (C) if so directed
by a majority of the members of the Board of Directors, by the stockholders of the Company. If it is so determined that the Indemnitee
is entitled to indemnification, payment to the Indemnitee shall be made within ten (10) days after such determination. Authorization
of indemnification and determination as to reasonableness of Expenses shall be made in the same manner as the determination that
indemnification is permissible. However, if the determination that indemnification is permissible is made by Special Legal Counsel
under clause (ii)(B) above, authorization of indemnification and determination as to reasonableness of Expenses shall be made in
the manner specified under clause (ii)(B) above for the selection of such Special Legal Counsel.

 

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		(c)	The Indemnitee shall cooperate with the person or entity making such determination with respect
to the Indemnitee’s entitlement to indemnification, including providing upon reasonable advance request any documentation
or information which is not privileged or otherwise protected from disclosure and which is reasonably available to the Indemnitee
and reasonably necessary to such determination. Any reasonable costs or expenses (including reasonable attorneys’ fees and
disbursements) incurred by the Indemnitee in so cooperating shall be borne by the Indemnitor (irrespective of the determination
as to the Indemnitee’s entitlement to indemnification) and the Indemnitor hereby indemnifies and agrees to hold the Indemnitee
harmless therefrom.

 

		(d)	In the event the determination of entitlement to indemnification is to be made by Special Legal
Counsel pursuant to paragraph 6(b) hereof, the Indemnitee, or the Indemnitor, as the case may be, may, within seven days after
such written notice of selection shall have been given, deliver to the Indemnitor or to the Indemnitee, as the case may be, a written
objection to such selection. Such objection may be asserted only on the grounds that the Special Legal Counsel so selected does
not meet the requirements of “Special Legal Counsel” as defined in paragraph 1 of this Agreement. If such written objection
is made, the Special Legal Counsel so selected may not serve as Special Legal Counsel until a court has determined that such objection
is without merit. If, within twenty (20) days after submission by the Indemnitee of a written request for indemnification pursuant
to paragraph 6(a) hereof, no Special Legal Counsel shall have been selected or, if selected, shall have been objected to, either
the Indemnitor or the Indemnitee may petition a court for resolution of any objection which shall have been made by the Indemnitor
or the Indemnitee to the other’s selection of Special Legal Counsel and/or for the appointment as Special Legal Counsel of
a person selected by the court or by such other person as the court shall designate, and the person with respect to whom an objection
is so resolved or the person so appointed shall act as Special Legal Counsel under paragraph 6(b) hereof. The Indemnitor shall
pay all reasonable fees and expenses of Special Legal Counsel incurred in connection with acting pursuant to paragraph 6(b) hereof,
and all reasonable fees and expenses incident to the selection of such Special Legal Counsel pursuant to this paragraph 6(d). In
the event that a determination of entitlement to indemnification is to be made by Special Legal Counsel and such determination
shall not have been made and delivered in a written opinion within ninety (90) days after the receipt by the Indemnitor of the
Indemnitee’s request in accordance with paragraph 6(a), upon the due commencement of any judicial proceeding in accordance
with paragraph 8(a) of this Agreement, Special Legal Counsel shall be discharged and relieved of any further responsibility in
such capacity.

 

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		(e)	If the person or entity making the determination whether the Indemnitee is entitled to indemnification
shall not have made a determination within forty-five (45) days after receipt by the Indemnitor of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and the Indemnitee shall be entitled to such
indemnification, absent: (i) a misstatement by the Indemnitee of a material fact, or an omission of a material fact necessary to
make the Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a
prohibition of such indemnification under applicable law. Such 45-day period may be extended for a reasonable time, not to exceed
an additional fifteen (15) days, if the person or entity making said determination in good faith requires additional time for the
obtaining or evaluating of documentation and/or information relating thereto. The foregoing provisions of this paragraph 6(e) shall
not apply: (i) if the determination of entitlement to indemnification is to be made by the stockholders and if within fifteen (15)
days after receipt by the Indemnitor of the request for such determination the Board of Directors resolves to submit such determination
to the stockholders for consideration at an annual or special meeting thereof to be held within seventy-five (75) days after such
receipt and such determination is made at such meeting, or (ii) if the determination of entitlement to indemnification is to be
made by Special Legal Counsel pursuant to paragraph 6(b) of this Agreement.

 

		7.	PRESUMPTIONS.

 

		(a)	In making a determination with respect to entitlement or authorization of indemnification hereunder,
the person or entity making such determination shall presume that the Indemnitee is entitled to indemnification under this Agreement
and the Indemnitor shall have the burden of proof to overcome such presumption.

 

		(b)	The termination of any Proceeding by conviction, or upon a plea of nolo contendere or its equivalent,
or an entry of an order of probation prior to judgment, creates a rebuttable presumption that the Indemnitee did not meet the requisite
standard of conduct described herein for indemnification.

 

		8.	REMEDIES.

 

		(a)	In the event that: (i) a determination is made in accordance with the provisions of paragraph 6
that the Indemnitee is not entitled to indemnification under this Agreement, or (ii) advancement of reasonable Expenses is not
timely made pursuant to this Agreement, or (iii) payment of indemnification due the Indemnitee under this Agreement is not timely
made, the Indemnitee shall be entitled to an adjudication in an appropriate court of competent jurisdiction of such Indemnitee’s
entitlement to such indemnification or advancement of Expenses.

 

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		(b)	In the event that a determination shall have been made pursuant to paragraph 6 of this Agreement
that the Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this paragraph 8 shall be
conducted in all respects as a de novo trial on the merits. The fact that a determination had been made earlier pursuant to paragraph
6 of this Agreement that the Indemnitee was not entitled to indemnification shall not be taken into account in any judicial proceeding
commenced pursuant to this paragraph 8 and the Indemnitee shall not be prejudiced in any way by reason of that adverse determination.
In any judicial proceeding commenced pursuant to this paragraph 8, the Indemnitor shall have the burden of proving that the Indemnitee
is not entitled to indemnification or advancement of Expenses, as the case may be.

 

		(c)	If a determination shall have been made or deemed to have been made pursuant to this Agreement
that the Indemnitee is entitled to indemnification, the Indemnitor shall be bound by such determination in any judicial proceeding
commenced pursuant to this paragraph 8, absent: (i) a misstatement by the Indemnitee of a material fact, or an omission of a material
fact necessary to make the Indemnitee’s statement not materially misleading, in connection with the request for indemnification,
or (ii) a prohibition of such indemnification under applicable law.

 

		(d)	The Indemnitor shall be precluded from asserting in any judicial proceeding commenced pursuant
to this paragraph 8 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate
in any such court that the Indemnitor is bound by all the provisions of this Agreement.

 

		(e)	In the event that the Indemnitee, pursuant to this paragraph 8, seeks a judicial adjudication of
such Indemnitee’s rights under, or to recover damages for breach of, this Agreement, if successful on the merits or otherwise
as to all or less than all claims, issues or matters in such judicial adjudication, the Indemnitee shall be entitled to recover
from the Indemnitor, and shall be indemnified by the Indemnitor against, any and all reasonable Expenses actually incurred by such
Indemnitee in connection with each successfully resolved claim, issue or matter.

 

		9.	NOTIFICATION AND DEFENSE OF CLAIMS.

 

The Indemnitee agrees promptly
to notify the Indemnitor in writing upon being served with any summons, citation, subpoena, complaint, indictment, information,
or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered
hereunder, but the failure so to notify the Indemnitor will not relieve the Indemnitor from any liability that the Indemnitor may
have to Indemnitee under this Agreement unless the Indemnitor is materially prejudiced thereby. With respect to any such Proceeding
as to which Indemnitee notifies the Indemnitor of the commencement thereof:

 

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		(a)	The Indemnitor will be entitled to participate therein at its own expense.

 

		(b)	Except as otherwise provided below, the Indemnitor will be entitled to assume the defense thereof,
with counsel reasonably satisfactory to Indemnitee. After notice from the Indemnitor to Indemnitee of the Indemnitor’s election
so to assume the defense thereof, the Indemnitor will not be liable to Indemnitee under this Agreement for any legal or other expenses
subsequently incurred by Indemnitee in connection with the defense thereof other than reasonable costs of investigation or as otherwise
provided below. Indemnitee shall have the right to employ Indemnitee’s own counsel in such Proceeding, but the fees and disbursements
of such counsel incurred after notice from the Indemnitor of the Indemnitor’s assumption of the defense thereof shall be
at the expense of Indemnitee unless (a) the employment of counsel by Indemnitee has been authorized by the Indemnitor, (b) the
Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Indemnitor and the Indemnitee in
the conduct of the defense of such action, (c) such Proceeding seeks penalties or other relief against the Indemnitee with respect
to which the Indemnitor could not provide monetary indemnification to the Indemnitee (such as injunctive relief or incarceration)
or (d) the Indemnitor shall not in fact have employed counsel to assume the defense of such action, in each of which cases the
fees and disbursements of counsel shall be at the expense of the Indemnitor. The Indemnitor shall not be entitled to assume the
defense of any Proceeding brought by or on behalf of the Indemnitor, or as to which Indemnitee shall have reached the conclusion
specified in clause (b) above, or which involves penalties or other relief against Indemnitee of the type referred to in clause
(c) above.

 

		(c)	The Indemnitor shall not be liable to indemnify Indemnitee under this Agreement for any amounts
paid in settlement of any action or claim effected without the Indemnitor’s written consent. The Indemnitor shall not settle
any action or claim in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee’s written
consent. Neither the Indemnitor nor Indemnitee will unreasonably withhold or delay consent to any proposed settlement.

 

		10.	NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE SUBROGATION.

 

		(a)	The rights of indemnification and to receive advancement of reasonable Expenses as provided by
this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee may at any time be entitled under applicable
law, the Charter, the Bylaws, any other agreement, a vote of stockholders, a resolution of the Board of Directors or otherwise,
except that any payments otherwise required to be made by the Indemnitor hereunder shall be offset by any and all amounts received
by the Indemnitee from any other indemnitor or under one or more liability insurance policies maintained by an indemnitor or otherwise
and shall not be duplicative of any other payments received by an Indemnitee from the Indemnitor in respect of the matter giving
rise to the indemnity hereunder. No amendment, alteration or repeal of this Agreement or any provision hereof shall be effective
as to the Indemnitee with respect to any action taken or omitted by the Indemnitee prior to such amendment, alteration or repeal.

 

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		(b)	To the extent that the Company maintains an insurance policy or policies providing liability insurance
for directors and officers of the Company, the Indemnitee shall be covered by such policy or policies in accordance with its or
their terms to the maximum extent of the coverage available and upon any Change in Control the Company shall use commercially reasonable
efforts to obtain or arrange for continuation and/or “tail” coverage for the Indemnitee to the maximum extent obtainable
at such time.

 

		(c)	In the event of any payment under this Agreement, the Indemnitor shall be subrogated to the extent
of such payment to all of the rights of recovery of the Indemnitee, who shall execute all papers required and take all actions
necessary to secure such rights, including execution of such documents as are necessary to enable the Indemnitor to bring suit
to enforce such rights.

 

		(d)	The Indemnitor shall not be liable under this Agreement to make any payment of amounts otherwise
indemnifiable hereunder if and to the extent that the Indemnitee has otherwise actually received such payment under any insurance
policy, contract, agreement, or otherwise.

 

		11.	CONTINUATION OF INDEMNITY.

 

		(a)	All agreements and obligations of the Indemnitor contained herein shall continue during the period
the Indemnitee is an officer or a member of the Board of Directors of the Company and shall continue thereafter so long as the
Indemnitee shall be subject to any threatened, pending or completed Proceeding by reason of such Indemnitee’s Corporate Status
and during the period of statute of limitations for any act or omission occurring during the Indemnitee’s term of Corporate
Status. This Agreement shall be binding upon the Indemnitor and its respective successors and assigns and shall inure to the benefit
of the Indemnitee and such Indemnitee’s heirs, executors and administrators.

 

		(b)	The Company shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written
agreement in form and substance reasonably satisfactory to the Indemnitee, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 

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		12.	SEVERABILITY.

 

If any provision or provisions
of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (i) the validity, legality,
and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any paragraph
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby, and (ii) to the fullest extent possible, the provisions
of this Agreement (including, without limitation, each portion of any paragraph of this Agreement containing any such provision
held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to
give effect to the intent manifested by the provisions held invalid, illegal or unenforceable.

 

		13.	EXCEPTIONS TO RIGHT OF INDEMNIFICATION OR ADVANCEMENT OF EXPENSES.

 

Notwithstanding any other
provisions of this Agreement, the Indemnitee shall not be entitled to indemnification or advancement of reasonable Expenses under
this Agreement with respect to (i) any Proceeding initiated by such Indemnitee against the Indemnitor other than a proceeding commenced
pursuant to paragraph 8 hereof, or (ii) to the extent applicable, any Proceeding for an accounting of profits arising from the
purchase and sale by Indemnitee of securities of the Company in violation of Section 16(b) of the Securities Exchange Act of 1934,
as amended, rules and regulations promulgated thereunder, or any similar provisions of any federal, state or local statute.

 

		14.	NOTICE TO THE COMPANY STOCKHOLDERS.

 

Any indemnification of,
or advancement of reasonable Expenses, to an Indemnitee in accordance with this Agreement, if arising out of a Proceeding by or
in the right of the Company, shall be reported in writing to the stockholders of the Company with the notice of the next Company
stockholders’ meeting or prior to the meeting.

 

		15.	HEADINGS.

 

The headings of the paragraphs
of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

 

		16.	MODIFICATION AND WAIVER.

 

No supplement, modification
or amendment of this Agreement shall be binding unless executed in writing by each of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver.

 

		17.	NOTICES.

 

All notices, requests, demands, and other communications
hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party
to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage
prepaid, on the third business day after the date on which it is so mailed, if so delivered or mailed, as the case may be, to the
following addresses:

 

If to the Indemnitee, to the address
set forth in the records of the Company.

 

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If to the Indemnitor, to:

Jernigan Capital, Inc.

1395 Brickell Avenue

Miami, FL 33131

Attention: Chief Executive Officer

 

with a copy (which shall not constitute
notice) to:

Morrison & Foerster LLP

2000 Pennsylvania Avenue

Suite 6000

Washington, DC 20006

Attention: John A. Good, Esq.

Fax: 202-887-0763

Email: JGood@mofo.com

 

or to such other address as may have been furnished
to the Indemnitee by the Indemnitor or to the Indemnitor by the Indemnitee, as the case may be.

 

		18.	GOVERNING LAW.

 

The parties agree that
this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Maryland, without
application of the conflict of laws principles thereof.

 

		19.	NO ASSIGNMENTS.

 

The Indemnitee may not
assign its rights or delegate obligations under this Agreement without the prior written consent of the Indemnitor. Any assignment
or delegation in violation of this paragraph 19 shall be null and void.

 

		20.	NO THIRD-PARTY RIGHTS.

 

Nothing expressed or referred
to in this Agreement will be construed to give any person other than the parties to this Agreement any legal or equitable right,
remedy or claim under or with respect to this Agreement or any provision of this Agreement. This Agreement and all of its provisions
are for the sole and exclusive benefit of the parties to this Agreement and their successors and permitted assigns.

 

		21.	COUNTERPARTS.

 

This Agreement may be executed
in one or more counterparts, each of which shall be deemed an original, but all of which together constitute an agreement binding
on all of the parties hereto.

 

[Signature page follows.]

 

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IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the day and year first above written.

 

	 	JERNIGAN CAPITAL, INC.
	 	 	 
	 	By: 	 
	 	Name:
	 	Title:
	 	 
	 	INDEMNITEE:
	 	 	 
	 	By:	 
	 	Name:
	 	Title:

 

Signature Page to Indemnification Agreement

 

    	 

    	 

    

 

Schedule A

 

	Indemnitee	 	Date
	Dean Jernigan	 	April 1, 2015
	Gregory W. Ward	 	April 1, 2015
	Mark O. Decker	 	April 1, 2015
	Sam J. Jenkins	 	April 1, 2015
	Howard A. Silver	 	April 1, 2015
	Harry J. Thie	 	April 1, 20152015.3.31 EX 10.2

Exhibit 10.2
FOURTH AMENDMENT TO LAND LEASE

This Fourth Amendment to Land Lease (“Fourth Amendment”) is entered into as of this 27th day of February, 2015, between THE MOHEGAN TRIBE OF INDIANS OF CONNECTICUT, a federally recognized Indian tribe (as lessor or landlord under the Land Lease referred to below, being hereinafter referred to as the “Tribe”), and the MOHEGAN TRIBAL GAMING AUTHORITY, an instrumentality of the Tribe (as lessee or tenant under such Land Lease, being hereinafter referred to as the “Authority”).

WHEREAS, the Tribe and the Authority are parties to that certain Land Lease dated September 29, 1995, as amended by Amendment of Land Lease dated September 29, 1995, as further amended by Amendment to Land Lease dated February 18, 1999, and as further amended by Amendment to Land Lease dated March 6, 2007 (the Land Lease, as so amended, the “Land Lease”); and
    
WHEREAS, the Tribe and the Authority desire to further amend the Land Lease for the purpose of updating and replacing (i) the description of the Premises as set forth in Exhibit A of the Land Lease to exclude therefrom a certain parcel known as the Hotel Lease Area and (ii) the Survey Plan depicting the Premises as set forth in Exhibit B of the Land Lease.

NOW, THEREFORE, in consideration of the foregoing and the agreements of the parties hereinafter set forth, the parties hereto hereby agree as follows:

1.    The Land Lease is hereby amended by deleting the Legal Description of the Property located in Exhibit A thereto, and by inserting in lieu thereof the Legal Description of the Property attached hereto as Exhibit A.

2.    The Land Lease is hereby amended by deleting the Survey Plan located at Exhibit B thereto, and by inserting in lieu thereof the General Location Survey attached hereto as Exhibit B.

3.    Except as modified hereby, the Land Lease shall remain in full force and effect.

[SPACE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment on the year and day first above written.

	
				
	WITNESSES:
	 
	THE MOHEGAN TRIBE OF INDIANS OF CONNECTICUT

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	/S/ HELGA M. WOODS
	 
	By:
	/S/ KEVIN P. BROWN

	Helga M. Woods
	 
	 
	Name:  Kevin P. Brown

	 
	 
	 
	Title: Chairman, Tribal Council

	/S/ DONNA R. GRIFFIN
	 
	 
	 

	Donna R. Griffin
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	MOHEGAN TRIBAL GAMING AUTHORITY

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	/S/ SCOTT WELLS
	 
	By:
	/S/ MITCHELL G. ETESS

	Scott Wells
	 
	 
	Name:  Mitchell G. Etess

	 
	 
	 
	Title:  Chief Executive Officer

	 
	 
	 
	 

	/S/ DENISE A. RUBINO
	 
	 
	 

	Denise A. Rubino
	 
	 
	 

STATE OF CONNECTICUT    )
)    ss: Uncasville
COUNTY OF NEW LONDON)

On this the 27th day of February, 2015, before me, the undersigned officer, personally appeared KEVIN P. BROWN, Chairman of the Tribal Council of THE MOHEGAN TRIBE OF INDIANS OF CONNECTICUT, a federally recognized Indian tribe, the duly authorized signer and sealer of the foregoing instrument who acknowledged that he executed the foregoing instrument for the purposes and in the capacity herein contained as and for his free act and deed and the free act and deed of the Tribe.

/S/ DONNA R. GRIFFIN 
Commissioner of the Superior Court
Notary Public
My Commission Expires: 10/31/2017

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STATE OF CONNECTICUT    )
)    ss: Uncasville
COUNTY OF NEW LONDON    )

On this the 26th day of February, 2015, before me, the undersigned officer, personally appeared MITCHELL G. ETESS, the Chief Executive Officer of the MOHEGAN TRIBAL GAMING AUTHORITY, the duly authorized signer and sealer of the foregoing instrument who acknowledged that he executed the foregoing instrument for the purposes and in the capacity herein contained as and for his free act and deed and the free act and deed of the Authority.

/S/ DENISE A. RUBINO
Commissioner of the Superior Court
Notary Public
My Commission Expires: 5/31/2015

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The undersigned parties agree that the foregoing agreement is in compliance with 25 U.S.C. §415 and 25 C.F.R. §162:

	
				
	 
	 
	The Mohegan Tribe of Indians of Connecticut

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	Date: 2/27/2015
	 
	By:
	/S/ KEVIN P. BROWN

	 
	 
	 
	Name:  Kevin P. Brown

	 
	 
	 
	Title: Chairman, Tribal Council

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	Mohegan Tribal Gaming Authority

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	Date: 2/26/2015
	 
	By:
	/S/ MITCHELL G. ETESS

	 
	 
	 
	Name: Mitchell G. Etess

	 
	 
	 
	Title: Chief Executive Officer

	 
	 
	 
	 

	 
	 
	Approved pursuant to 25 U.S.C. §415 and 25 C.F.R. §162, and delegated authority of 209 DM 8, 230 DM 1, and 3 IAM 4.

	 
	 
	 
	 

	 
	 
	United States Department of Interior
Bureau of Indian Affairs

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	Date: 3/3/2015
	 
	By:
	/S/ SCOTT C. MENEELY

	 
	 
	 
	Name: Scott C. Meneely

	 
	 
	 
	Title: Acting Regional Director

	 
	 
	 
	 

STATE OF TENNESSEE        )
) ss.
COUNTY OF DAVIDSON   )
PERSONALLY APPEARED BEFORE ME, the undersigned Authority in and for said
County and State, on the 3rd day of March, 2015, within my jurisdiction, the within named Scott C. Meneely, who acknowledged that he is the Acting Regional Director of the Bureau of Indian Affairs, and that in said representative capacity, he/she executed the foregoing instrument, after having been duly authorized so to do.

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/S/ JOHN W. SMITH
Notary Public
My Commission Expires: 3/6/2018

5

 

EXHIBIT A

Legal Description of the Property

A certain tract or parcel of land, together with the buildings and all other improvements thereon, situated on the southeasterly side of Sandy Desert Road, easterly of Connecticut Route No. 32, northeasterly of Crow Hill Road, westerly of Thames River and southerly of Trading Cove in the Town of Montville, County of New London and State of Connecticut and being more particularly shown and delineated on a certain map or plan entitled “SURVEY PLAN LAND OF UNITED STATES OF AMERICA IN TRUST FOR THE MOHEGAN TRIBE OF INDIANS OF CONNECTICUT TO BE LEASED TO MOHEGAN TRIBAL GAMING AUTHORITY PREPARED FOR THE MOHEGAN TRIBE OF INDIANS OF CONNECTICUT Located At Sandy Desert Road, Crow Hill Road and Mohegan Sun Boulevard Montville (Uncasville), Connecticut  Date: January 2, 2007  Scale: 1” = 200’  Project No: 200614  Sheet 1 of 1”  Prepared By The Mohegan Tribe CAD Document Control Department, which premises are more particularly bounded and described as follows:

Beginning at a point in the southeasterly line of land now or formerly of The Mohegan Tribe Of Indians Of Connecticut (southeasterly street line of Sandy Desert Road) at a northwesterly corner of the herein-described tract and on the dividing line between the herein-described tract and other land of The United States Of America In Trust For The Mohegan Tribe Of Indians Of Connecticut;
Thence running South 02° 41’ 50” East for a distance of 322.32 feet to a point; 
Thence running North 85° 24’ 27” East for a distance of 304.00 feet to a point;
Thence running South 04° 35’ 33” East for a distance of 254.69 feet to a point;
Thence running North 85° 28’ 43” West for a distance of 52.08 feet to a point;
Thence running South 06° 35’ 16” East for a distance of 190.41 feet to a point;
Thence running South 52° 42’ 03” East for a distance of 63.49 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the left with a radius of 400.00 feet, a central angle of 17° 33’ 57” for a distance of 122.63 feet to a point;
Thence running South 70° 16’ 00” East for a distance of 141.88 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the right with a radius of 1240.00 feet, a central angle of 17° 06’ 42” for a distance of 370.34 feet to a point;
Thence running South 53° 09’ 17” East for a distance of 184.55 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the left with a radius of 1150.00 feet, a central angle of 23° 37’ 52” for a distance of 474.31 feet to a point;
Thence running South 76° 47’ 09” East for a distance of 402.28 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the right with a radius of 649.90 feet, a central angle of 30° 29’ 57” for a distance of 345.95 feet to a point;
Thence running South 46° 17’ 12” East for a distance of 137.84 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the left with a radius of 350.09 feet, a central angle of 20° 44’ 48” for a distance of 126.77 feet to a point;
Thence running South 67° 02’ 00” East for a distance of 358.04 feet to a point;

Thence running in a general southeasterly direction along the arc of a curve to the left with a radius of 850.00 feet, a central angle of 11° 27’ 44” for a distance of 170.05 feet to a point;
Thence running South 78° 29’ 44” East for a distance of 290.02 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the right with a radius of 649.90 feet, a central angle of 45° 11’ 01” for a distance of 512.51 feet to a point;
Thence running South 33° 18’ 27” East for a distance of 546.87 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the left with a radius of 624.21 feet, a central angle of 07° 41’ 21” for a distance of 83.77 feet to the southerly corner of the herein described tract;
Thence running North 17° 46’ 50” West for a distance of 86.72 feet to a point;
Thence running North 15° 59’ 54” West for a distance of 69.57 feet to a point;
Thence running North 13° 09’ 20” West for a distance of 241.49 feet to a point;
Thence running North 08° 51’ 10” West for a distance of 99.13 feet to a point;
Thence running North 13° 11’ 22” West for a distance of 44.72 feet to a point;
Thence running North 06° 55’ 31” West for a distance of 44.45 feet to a point, the last twenty seven courses being bounded by other land of The United States Of America In Trust For The Mohegan Tribe Of Indians Of Connecticut;
Thence running North 73° 35’ 41” East for a distance of 71.66 feet to a point, the last course being bounded southeasterly in part by other land of The United States Of America In Trust For The Mohegan Tribe Of Indians Of Connecticut and in part by land now or formerly of MTIC Acquisitions, LLC;
Thence running North 73° 57’ 46” East for a distance of 48.45 feet to a concrete monument recovered, the last course being bounded southeasterly by land now or formerly of MTIC Acquisitions, LLC;
Thence running North 75° 05’ 39’ East for a distance of 190.94 feet, bounded southeasterly in part by land now or formerly of MTIC Acquisitions, LLC and in part by land now or formerly of Southeastern Connecticut Regional Resource Recovery Authority to a concrete monument recovered;
Thence running North 73° 18’ 39” East for a distance of 166.10 feet to an angle point;
Thence running North 75° 48’ 39” East for a distance of 241.15 feet to a point at Connecticut Grid Coordinates North 738813.29, East 1183036.66;
Thence continuing North 75° 48’ 39” East for a distance of 242.59 feet to the southeasterly corner of the herein described tract, said point lying in the southwesterly line of land now or formerly of Central Vermont Railway, Inc., the last three courses being bounded southeasterly by land now or formerly of Southeastern Connecticut Regional Resource Recovery Authority;
Thence running North 44° 36’ 07” West for a distance of 550.97 feet to a point;
Thence running in a general northwesterly direction along the arc of a curve to the left with a radius of 3100.09 feet, a central angle of 02° 45’ 25” for a distance of 149.17 feet to a point;
Thence running in a general northwesterly direction along the arc of a curve to the left with a radius of 3100.00 feet, a central angel of 04° 34’ 39” for a distance of 247.66 feet to a point;
Thence running North 51° 56’ 11” West for a distance of 150.00 feet to a point;
Thence running in a general northwesterly direction along the arc of a curve to the right with a radius of 1132.75 feet, a central angle of 37° 19’ 02” for a distance of 737.77 feet to a point;
Thence running in a general northerly direction along the arc of a curve to the right with a radius of 883.00 feet, a central angle of 38° 49’ 37” for a distance of 598.37 feet to a concrete 

monument recovered, the last six courses being bounded northeasterly and easterly by land now or formerly of Central Vermont Railway, Inc.;
Thence running North 45° 14’ 00” West for a distance of 35 feet, more or less, bounded northeasterly by land now or formerly of Central Vermont Railway, Inc. to a monument set in the tidal high water mark of Trading Cove;
Thence running in a general westerly direction along the tidal high water mark of Trading Cove for a distance of 3743 feet, more or less, to a point which is located North 06° 33’ 05” East 77 feet, more or less, from a rebar recovered at Connecticut Grid Coordinates North 741768.53, East 1179180.50;
Thence running South 06° 33’ 05” West for a distance of 77 feet, more or less, to a rebar recovered;
Thence running South 06° 33’ 05” West for a distance of 547.80 feet to an iron pipe recovered;
Thence running South 06° 34’ 37” West for a distance of 275.26 feet to a concrete monument recovered;
Thence running South 07° 16’ 42” West for a distance of 52.35 feet to a point;
Thence running South 88° 08’ 28” West for a distance of 246.94 feet to a point;
Thence running South 89° 56’ 24” West for a distance of 294.38 feet to the point and place of beginning, the last six courses being bounded by land now or formerly of The Mohegan Tribe Of Indians Of Connecticut.

Said Lease Area Containing 185 acres, more or less.

Together with the non-exclusive right to pass and repass over that certain roadway known as Sandy Desert Road (which roadway leads from the westerly portion of the herein described property to Conn. Route #32 as shown on said map), as the same now exists or may hereafter be relocated, expanded or extended, including any extension thereof from the northwesterly portion of the herein described property to Conn. Route #32; and

Together with the non-exclusive right to pass and repass over that certain roadway known as Mohegan Sun Boulevard, as the same now exists or may hereafter be relocated, expanded or extended, which roadway leads from the southeasterly portion of the herein described property to Conn. Route #2A as shown on said map; and 

Together with all rights, easements, hereditaments and appurtenances thereto appertaining and all right, title and interest, if any, in and to strips and gores adjoining said premises and in and to the land lying in the bed of any street or streets adjoining said premises.

EXCEPTING THEREFROM that certain piece or parcel of land together with the improvements thereon located, shown as: 

That certain Hotel Lease Area, located at 1 Mohegan Sun Boulevard, in the Town of Montville, County of New London and State of Connecticut, and being more particularly bounded and described as follows:

Beginning at the northwesterly corner of the herein described Hotel Lease Area, said point having coordinates of North 741,349.56 feet, East 1,180,631.40 feet, as more particularly shown on the herein referenced survey plan;
Thence running S63° 51' 11"E by and along the edge of said Hotel Lease Area, for a distance of 46.84 feet to a point;
Thence running N06° 10' 48"E by and along the edge of said Hotel Lease Area, for a distance of 12.54 feet to a point;
Thence running S63° 42' 51"E by and along the edge of said Hotel Lease Area, for a distance of 20.58 feet to a point;
Thence running S66° 26' 35"E by and along the edge of said Hotel Lease Area, for a distance of 62.37 feet to a point;
Thence running S36° 06' 28"E by and along the edge of said Hotel Lease Area, for a distance of 40.95 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the right having a central angle of 09o54’45”, a radius of 95.74’, a chord bearing of S66° 55' 39"E and a chord length of 16.54 feet, by and along the edge of said Hotel Lease Area, for a distance of 16.56 feet to a point;
Thence running S64° 30' 28"E by and along the edge of said Hotel Lease Area, for a distance of 33.30 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the left having a central angle of 18o01’22” and a radius of 95.00’, a chord bearing of S76° 02' 54"E and a chord length of 29.76 feet, by and along the edge of said Hotel Lease Area, for a distance of 29.88 feet to a point;
Thence running S85° 03' 35"E by and along the edge of said Hotel Lease Area, for a distance of 11.66 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the right having a central angle of 52o22’26” and a radius of 45.00’, a chord bearing of S58° 52' 23"E and a chord length of 39.72 feet, by and along the edge of said Hotel Lease Area, for a distance of 41.13 feet to a point;
Thence running in a general southeasterly direction along the arc of a curve to the right having a central angle of 39o05’07” and a radius of 68.00’, a chord bearing of S13° 08' 36"E and a chord length of 45.49 feet, by and along the edge of said Hotel Lease Area, for a distance of 46.39 feet to a point;
Thence running in a general southerly direction along the arc of a curve to the left having a central angle of 18o17’17” and a radius of 95.00’, a chord bearing of S02° 44' 41"E and a chord length of 30.19 feet, by and along the edge of said Hotel Lease Area, for a distance of 30.32 feet to a point;
Thence running S24° 22' 59"E by and along the edge of said Hotel Lease Area, for a distance of 26.59 feet to the southeasterly corner of the herein described lease area;
Thence running in a general northwesterly direction along the arc of a curve to the left having a central angle of 105o50’47” and a radius of 10.00’, a chord bearing of N83° 51' 50"W and a chord length of 15.96 feet, by and along the edge of said Hotel Lease Area, for a distance of 18.47 feet to a point;
Thence running in a general westerly direction along the arc of a curve to the right having a central angle of 81o53’24” and a radius of 88.00’, a chord bearing of S84° 09' 28"W and a chord 

length of 115.34 feet, by and along the edge of said Hotel Lease Area, for a distance of 125.77 feet to a point;
Thence running S56° 38' 55"W by and along the edge of said Hotel Lease Area, for a distance of 80.16 feet to a point having coordinates of North 741,071.96 feet, East 1,180,719.52 feet;
Thence running N53° 49' 12"W by and along the edge of said Hotel Lease Area, for a distance of 135.67 feet to a point having coordinates of North 741,152.05 feet, East 1,180,610.01 feet;
Thence running N06° 10' 48"E by and along the edge of said Hotel Lease Area, for a distance of 198.67 feet to the point and place of beginning;

Said Hotel Lease Area being bounded on all sides by other land of the United States of America In Trust For The Mohegan Tribe of Indians of Connecticut (Leased to The Mohegan Tribal Gaming Authority) (“Tribe’s Other Land”);

Said Hotel Lease Area contains 1.21 acres, more or less (52,764 square feet, more or less), and is more particularly shown as “HOTEL LEASE AREA” on a survey plan entitled: “Mohegan Hotel Lease Area Mohegan Tribe of Indians of Connecticut Mohegan Sun Resort Casino” 1 Mohegan Sun Boulevard Uncasville (Montville), Connecticut” Date: 01/28/2015 Scale: 1’=20’, Project # 2014-051. Prepared By The Mohegan Tribe, CAD/GIS Document Control Department.

Said Hotel Lease Area being leased (1) together with the non-exclusive right to use on, over and across the Tribe’s Other Land the public access roads (including Mohegan Sun Boulevard and Cove Road) and public parking areas in common with others (and subject to the rules and regulatory requirements of the Tribe or its designee) on the Tribe’s Other Land to serve the HOTEL LEASE AREA, together with the right to construct, install, maintain, repair, replace, use and operate the “PROPOSED VALET DRIVEWAY”, the “PROPOSED HOTEL LOADING DOCK”, and the “PROPOSED HOTEL CONNECTOR TO WINTER ENTRANCE” all as shown on the aforesaid survey plan, provided, however, that such driveway, loading dock and connector shall be subject to relocation at any time and from time to time by the Tribe or its designee as the Tribe may require, so long as such relocation does not unreasonably interfere with the use of the HOTEL LEASE AREA for its intended purposes; and (2) together with the non-exclusive right to use and operate in, on, over and across the Tribe’s Other Land the utilities lines serving the Tribe’s Other Land to serve the HOTEL LEASE AREA, together with the non-exclusive right to construct, install, maintain, repair, replace, use and operate, in, on , over and across the Tribe’s Other Land such electric power, water, sanitary and storm sewer, and other utilities serving the HOTEL LEASE AREA, all as shown on the plans and specifications for the construction of the Hotel delivered to and approved by the Tribe and subject to the regulatory requirements of the Tribe, provided, however, that such utilities shall be subject to relocation at any time and from time to time by the Tribe or its designee as the Tribe may require, so long as such relocation does not unreasonably interfere with the use of the HOTEL LEASE AREA for its intended purposes.

EXHIBIT B

General Location Survey - Attached

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