Document:

EX-10.27

 Exhibit 10.27 

EIGHTH AMENDMENT TO AGREEMENT OF LEASE 

Investment Property Group, LLC/Medallion Bank 

THIS AMENDMENT (this “Amendment”) is entered into as of the 28th day of March, 2018, between INVESTMENT PROPERTY GROUP, LLC, a Utah limited liability company (“Landlord”) as successor-in-interest to B-line Holdings, L.C., and MEDALLION BANK, a Utah industrial bank (“Tenant”). (Landlord and Tenant are referred
to in this Amendment collectively as the “Parties” and individually as a “Party.”) 
 FOR
GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are acknowledged, the Parties agree as follows: 

1.    Definition—Lease. As used in this Amendment, “Lease” means the Agreement of
Lease, dated July 3, 2002, as previously amended by (i) the Amendment of Lease Agreement, dated October 29, 2004, (ii) the Second Amendment of Lease Agreement, dated January 9, 2007, (iii) the Third Amendment of Lease Agreement,
dated October 31, 2007, (iv) a second Third Amendment of Lease Agreement, dated November 15, 2011, (v) the Fourth Amendment of Lease Agreement, dated November 21, 2011, (vi) the Fifth Amendment of Lease Agreement, dated
November 26, 2012, (vii) the Sixth Amendment to Agreement of Lease, dated January 26, 2017, and (viii) the Seventh Amendment to Agreement of Lease (the “Seventh Amendment”), dated May 10, 2017, all entered
into between Landlord or its predecessor-in-interest, B-Line Holdings, L.C., a Utah limited liability company, as landlord, and Tenant, as tenant, and, where applicable,
as amended by this Amendment. Any term used in this Amendment that is capitalized but not defined shall have the same meaning as set forth in the Lease. 

2.    Purpose. 

(a)    On or about August 1, 2018, the following space (the “Additional Space”) shall be
added to the Premises: Suite 310 on the third floor of the Building, consisting of approximately 918 rentable square feet; and Suite 320 on the third floor of the Building, consisting of approximately 2,385 rentable square feet, comprising in the
aggregate a total of 3,303 rentable square feet. (The date on which the Additional Space is added to the Premises is referred to in this Amendment as the “Expansion Date.”) As of the Expansion Date, the Premises shall consist
of a total of approximately 10,996 usable square feet and approximately 12,675 rentable square feet. 
 (b)    Suite 305
on the third floor of the Building, consisting of approximately 1,148 usable square feet and approximately 1,321 rentable square feet, was to be added to the Premises in accordance with the Seventh Amendment. However, that space now will
not be added to the Premises and is no longer covered by the Lease, with the effect that the portion of the TI Allowance for Suite 305 in the amount of $12,380.00, as described in Paragraph 3(a) of Exhibit A attached to
the Seventh Amendment, will not be provided by Landlord to Tenant. 
 3.    Defined Terms. Effective as of, and
for the period on and after, the Expansion Date, the following definitions in Section 1 of the Lease are revised to read as follows; provided, however, that if the Additional Space is added to the Premises on a date
other than August 1, 2018, then the periods set forth below for the Base Rent schedule shall begin on such other date that such addition occurs (as memorialized in a certificate entered into between the Parties): 

Base Rent means the following amounts per calendar month for the periods indicated, based on 12,675 rentable square
feet: 

									
	 Periods
	  	Base Rent	 	  	Annual Cost Per
Rentable Square Foot	 
			
	 August 1, 2018 through November 30, 2018, inclusive
	  	$	25,350.00 per month	 	  	$	24.00	 
			
	 December 1, 2018 through November 30, 2019, inclusive
	  	$	26,110.50 per month	 	  	$	24.72	 
			
	 December 1, 2019 through November 30, 2020, inclusive
	  	$	26,892.13 per month	 	  	$	25.46	 
			
	 December 1, 2020 through November 30, 2021, inclusive
	  	$	27,705.44 per month	 	  	$	26.23	 
			
	 December 1, 2021 through November 30, 2022, inclusive
	  	$	28,529.31 per month	 	  	$	27.01	 
			
	 December 1, 2022 through November 30, 2023, inclusive
	  	$	29,384.88 per month	 	  	$	27.82	 

 Parking for purposes of Section 4.3 of this Lease means the right to use a number of non-reserved automobile parking stalls in the Building’s parking lot equal to 4.5 parking stalls per 1,000 rentable square feet of the Premises (or fifty-seven (57) parking stalls with 12,675 rentable
square feet of the Premises). 
 Premises means (i) Suite 310 on the third floor, consisting of approximately 918 rentable square
feet, (ii) Suite 320 on the third floor, consisting of approximately 2,385 rentable square feet, and (iii) Suite 510 on the fifth floor, consisting of approximately 9,372 rentable square feet (and approximately 8,125 usable square feet),
comprising in the aggregate a total of approximately 12,675 rentable square feet (and 10,996 usable square feet). 
 Termination Date
means November 30, 2023, as such date may be extended or sooner terminated in accordance with this Lease. 

4.    Additional Space Delivered “As is”. The Additional Space shall be delivered by Landlord and
accepted by Tenant in its “as-is” condition, and Landlord shall not be obligated to make any improvements thereto. 

5.    Description of Premises. Effective as of the Expansion Date, the Premises shall be described as set forth on
the attached Exhibit A. 
 6.    Enforceability. Each Party represents and warrants that: 

(a)    such Party was duly formed and is validly existing and in good standing under the laws of the state of its
formation; 

  
 -2- 

 (b)    such Party has the requisite power and authority under all
applicable laws and its governing documents to execute, deliver and perform its obligations under this Amendment; 

(c)    the individual executing this Amendment on behalf of such Party has full power and authority under such
Party’s governing documents to execute and deliver this Amendment in the name of, and on behalf of, such Party and to cause such Party to perform its obligations under this Amendment; 

(d)    this Amendment has been duly authorized, executed and delivered by such Party; and 

(e)    this Amendment is the legal, valid and binding obligation of such Party, and is enforceable against such Party in
accordance with its terms. 
 7.    Brokerage Commissions. Except as may be set forth in one or more separate
agreements between (i) Landlord and Landlord’s broker, or (ii) Landlord or Landlord’s broker and Tenant’s broker: 

(a)    Landlord represents and warrants to Tenant that no claim exists for a brokerage commission, finder’s fee or
similar fee in connection with this Amendment based on any agreement made by Landlord; and 
 (b)    Tenant represents
and warrants to Landlord that no claim exists for a brokerage commission, finder’s fee or similar fee in connection with this Amendment based on any agreement made by Tenant. 

Landlord shall indemnify, defend and hold harmless Tenant from and against any claim for a brokerage commission, finder’s fee or similar fee in
connection with this Amendment based on an actual or alleged agreement made by Landlord. Tenant shall indemnify, defend and hold harmless Landlord from and against any claim for a brokerage commission, finder’s fee or similar fee in connection
with this Amendment based on an actual or alleged agreement made by Tenant. 
 8.    Entire Agreement. The Lease,
as amended by this Amendment, exclusively encompasses the entire agreement of the Parties, and supersedes all previous negotiations, understandings and agreements between the Parties, whether oral or written, including, without limitation, any oral
discussions, letters of intent and email correspondence. The Parties acknowledge and represent, by their signatures below, that the Parties have not relied on any representation, understanding, information, discussion, assertion, guarantee,
warranty, collateral contract or other assurance, except those expressly set forth in the Lease and this Amendment, made by or on behalf of any other Party or any other person whatsoever, prior to the execution of this Amendment. The Parties waive
all rights and remedies, at law or in equity, arising or which may arise as the result of a Party’s reliance on such representation, understanding, information, discussion, assertion, guarantee, warranty, collateral contract or other assurance.

 9.    General Provisions. In the event of any conflict between the provisions of the Lease and the provisions
of this Amendment, the provisions of this Amendment shall control. Except as set forth in this Amendment, the Lease (which, by definition, includes all previous amendments) is ratified and affirmed in its entirety. This Amendment shall inure to the
benefit of, and be binding on, the Parties and their respective successors and assigns. This Amendment shall be governed by, and construed and interpreted in accordance with, the laws (excluding the choice of laws rules) of the state of Utah. This

  
 -3- 

 
Amendment may be executed in any number of duplicate originals or counterparts, each of which when so executed shall constitute in the aggregate but one and the same document. Each exhibit
referred to in, and attached to, this Amendment is an integral part of this Amendment and is incorporated in this Amendment by this reference. 

  
 -4- 

 THE PARTIES have executed this Amendment on the respective dates set forth below, to
be effective as of the date first set forth above. 
  

			
	LANDLORD:
	
	 INVESTMENT PROPERTY GROUP, LLC,

a Utah limited liability company

		
	 By
  
	 	 

  

	
	Print or Type Name of Signatory:
	
	         Robert Galanis

		
	Its	 	 MANAGER

		
	Date	 	 03.29.2018

 

			
	TENANT:
	
	 MEDALLION BANK,
 a Utah
industrial bank

		
	 By
  
	 	 

  

	
	Print or Type Name of Signatory:
	
	         Justin Haley

		
	Its	 	 Senior Vice President

		
	Date	 	 March 28, 2018

  
 -5- 

 EXHIBIT A 

to 
 EIGHTH AMENDMENT TO
AGREEMENT OF LEASE 
  
  

PREMISES 
 (See attached)

  
 Exhibit A-1EX-10.28

 Exhibit 10.28 

July 23, 2018 
 Medallion Bank 

1100 East 6600 South, Suite 510 
 Salt Lake City, UT 84121 

Attention: Justin Haley 
  

	Re:	 8th Amendment Lease Commencement

 Dear Justin, 
 Please be advised that the
initial rent commencement date indicated in the 8th Amendment, which was August 1, 2018, will now be September 1, 2018 due to uncontrollable delays with the termination of the existing tenants 3rd floor expansion space, suite 310 & 320
(3,303 square feet). The rent schedule listed in the amendment will be revised with the correct start date and continue as indicated below. 
  

									
	 Periods
	  	Base Rent	 	  	Annual Cost Per
Rentable Square Foot	 
	 September 1, 2018 through November 30, 2018, inclusive
	  	$	25,350.00 per month	 	  	$	24.00	 
			
	 December 1, 2018 through November 30, 2019, inclusive
	  	$	26,110.50 per month	 	  	$	24.72	 
			
	 December 1, 2019 through November 30, 2020, inclusive
	  	$	26,892.13 per month	 	  	$	25.46	 
			
	 December 1, 2020 through November 30, 2021, inclusive
	  	$	27,705.44 per month	 	  	$	26.23	 
			
	 December 1, 2021 through November 30, 2022, inclusive
	  	$	28,529.31 per month	 	  	$	27.01	 
			
	 December 1, 2022 through November 30, 2023, inclusive
	  	$	29,384.88 per month	 	  	$	27.82	 

 Please keep a copy of this letter for you records and if you have any questions please do not hesitate to let us know. 

Very truly yours, 
 Mountain High Real Estate Advisors, Inc.

  
 

 
 Ian L. Galanis, 
 Vice
President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}]]