Document:

Exhibit 10.2

 

Indemnity
and Hold Harmless AGREEMENT

 

THIS
Indemnity and Hold Harmless AGREEMENT (this “Agreement”) is entered
into this 27th day of June, 2018, between First Capital Real Estate Operating Partnership LP, a Delaware limited partnership (“Buyer”)
and FC First Trust LLC (To be renamed post-closing), f/k/a Talon
First Trust, LLC (“Company”), First Capital Real Estate Trust Incorporated, a Maryland Corporation, (are collectively
referred to as “Buyer Affiliates” ) and Talon OP, LP, a Minnesota
limited partnership (“Talon OP”), Talon Real Estate Holding Corp,
a Utah corporation (“Talon Holding”), Matthew and Brenda Kaminski
(collectively, “Kaminski”) (Talon OP, Talon Holding, and Kaminski are collectively referred to as “Talon
Affiliates”). 

 

RECITALS 

 

		A.	Company owns certain real property located in the City of St. Paul, County of Ramsey, Minnesota,
legally described on Exhibit A attached hereto (“Property”);

 

		B.	Gamma Lending Omega, LLC, a ____ limited liability company (“Lender”) made a
loan to Company in the original principal amount of Fifty-Five Million Dollars ($55,000,000.00) (“Loan” or “Existing
Indebtedness”), which Loan is secured by a mortgage and other real estate documents on the Property and certain guaranties
of Talon Affiliates, which Loan is evidenced by the loan documents attached hereto as Exhibit B;

 

		C.	Talon OP, as Contributor, and Company, as Buyer, entered into that certain Contribution Agreement
(“Contribution Agreement”) whereby, Talon OP, as Contributor, transferred and assigned to Buyer all right, title
and interest in and to one hundred percent (100%) of the member interests of Company;

 

		D.	As part of the Contribution Agreement and Buyer’s receipt of the member interest in Company,
Buyer and Buyer Affiliates agreed to assume the Loan and Existing Indebtedness and indemnify and hold harmless Talon OP and Talon
Affiliates from any and all obligations and liability with respect to the Loan and Existing Indebtedness; and

 

		E.	Talon Affiliates and Buyer Affiliates desire to set forth their agreement with respect to indemnity
obligations of the Company and Buyer Affiliates pursuant to the Contribution Agreement and as set forth in this Agreement.

 

AGREEMENT

 

NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement, and such other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Company, Buyer and Buyer Affiliates, intending to be legally bound, agree as follows:

 

1.           Recitals.
The Recitals set forth above are true and correct in all material respects and are incorporated herein by reference.

 

2.           Loan
Assumption Obligation. Company, Buyer and Buyer Affiliates agree to assume and pay all sums due and owing Lender with respect
to the Loan and Existing Indebtedness.

 

3.           Indemnity.
Company, Buyer, and Buyer Affiliates jointly and severally, hereby absolutely and unconditionally agree to indemnify, defend and
hold harmless Talon OP and Talon Affiliates from any and all loses and liabilities which Talon OP and Talon Affiliates may sustain
or become subject to as a result of or relating to any breach by the Company and/or Buyer from the failure of the Company and/or
Buyer to pay all sums due and owing pursuant to the Loan and Existing Indebtedness.

 

    1

     

    

 

4.           Defense.
In the event the Lender commences an action or seeks to enforce repayment of the Loan and Existing Indebtedness against Talon OP
and Talon Affiliates, the Company, Buyer shall defend all such claims and actions against Talon OP and Talon Affiliates including,
without limitation, the appointment of, and payment to, legal counsel. Such legal counsel shall be reasonably acceptable to Talon
OP and Talon Affiliates and the cost thereof shall be borne by the Company, Buyer.

 

5.           Duration.
The obligation set forth in this Buyer have paid all sums due and owing to Lender with respect to the Loan and Existing Indebtedness;
or (ii) until such time as Lender has released Talon OP and Talon Affiliates from any obligation with respect to Loan and Existing
Indebtedness.

 

6.           Governing
Law; Jurisdiction and Venue. This Agreement and all acts and transactions pursuant to this Agreement and the rights and the
obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Minnesota.
In the event of litigation, jurisdiction and venue shall lie in the Minnesota State Court, Ramsey County, or the Federal District
courts for the District of Minnesota.

 

7.           Entire
Agreement; Enforcement of Rights. This Agreement sets forth the entire agreement and understanding of the parties relating
to the subject matter herein and merges all prior discussions between them. No modifications of or amendment to this Agreement,
nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the parties to this Agreement.
The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such
party.

 

8.           Counterparts.
This Agreement may be executed by facsimile or email transmission and in two or more counterparts, each of which shall be deemed
an original and all of which together shall constitute one instrument.

 

9.           Successors
and Assigns. This Agreement shall be binding upon the Company and Buyer, and their successors and assigns, and shall inure
to the benefit of Talon OP and Talon Affiliates, and their respective successors and assigns.

 

[Remainder of this page intentionally
left blank. Signature page follows]

 

    2

     

    

 

	 	FC First Trust, LLC, f/k/a Talon First Trust, LLC
	 	 
	 	/s/ Suneet Singal
	 	By:	Suneet Singal	 
	 	Its:	Managing Member	 

	 	 	 
	 	First Capital Real
    Estate Operating Partnership LP, a Delaware
    Limited Partnership
	 	 
	 	By: First Capital Real Estate Trust Incorporated,
    a Maryland corporation
	 	Its: General Partner

 

	 	/s/ Suneet Singal
	 	By: Suneet Singal
	 	Its: Chairman, Chief Executive Officer
	 	 
	 	First Capital Real
    Estate TRUST, Incorporated, a Maryland corporation
	 	 
	 	/s/ Suneet Singal
	 	By: Suneet Singal
	 	Its: Chairman, Chief Executive Officer

 

     

     

    

 

	 	Talon
    OP, L.P.
	 	 	 
	 	By: Talon
    Real Estate Holding Corp., its general partner
	 	 
	 	 	/s/ M.G. Kaminski
	 	 	By: M.G. Kaminski
	 	 	Its: CEO

 

	 	Talon
    Real Estate Holding Corp.
	 	 
	 	/s/ M.G.
    Kaminski
	 	By: M.G. Kaminski
	 	Its: CEO
	 	 
	 	/s/ M.G. Kaminski
	 	M.G. Kaminski,
    Individually
	 	 
	 	/s/ Brenda
    Kaminski
	 	Brenda
    Kaminski, Individually

 

     

     

    

 

Exhibit
A

 

Legal Description of Property

 

     

     

    

 

Exhibit
B

 

Loan Documents

 

		1.	Loan Agreement

		2.	Amended and Restated Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing

		3.	Environmental and ADA Indemnity Agreement

		4.	Assignment and Subornation of Management Agreement

		5.	Assignment of Construction Contract

		6.	Assignment of Contracts, Plans and Permits

		7.	Completion Guaranty – Matthew G. Kaminski and Brenda Kaminski

		8.	Guaranty Agreement – Talon OP, L.P.

		9.	Limited Recourse Guaranty Agreement – Matthew G. Kaminski and Brenda A. Kaminksi

		10.	Payment Guaranty Agreement – Matthew G. Kaminski and Brenda A. Kaminski

		11.	Membership Interest Pledge and Security Agreement

		12.	Bill of Sale and Assignment

		13.	Certificate Regarding “Recycled” Single-Purpose Entity

		14.	Closing Certificate

		15.	UCC Financing Statement – Talon First Trust LLC (property)

		16.	UCC Financing Statement – Talon OP, L.P. – Talon First Trust, LLC member interest

		17.	UCC Financing Statement – Talon First Trust, LLC – propertyExhibit 10.3

 

Assignment
of LLC Member Interest

 

(Talon
FirsT Trust, LLC)

 

For
Value Received, Talon OP, L.P., a Minnesota limited partnership (“Contributor”), hereby contributes,
conveys, sells, assigns, transfers and quit claims unto First Capital Real Estate Operating Partnership, LP, a Delaware limited
partnership (“Buyer”), 100% of LLC member interests in Talon First Trust, LLC, a Delaware limited liability
company (“Company”), and irrevocably constitutes and appoints __________, its attorney-in-fact, to transfer
said LLC member interests with full power of substitution in the premises.

 

This Assignment of
LLC Member Interests is made pursuant to, and subject to, all of the provisions of that certain Contribution Agreement dated June
27, 2018 (“Contribution Agreement”) between Contributor and Buyer. The terms, conditions, representations and
limitations set forth in the Contribution Agreement are incorporated herein by reference.

 

Dated: As of June 27, 2018

 

	 	Talon
OP, L.P.
	 	 
	 	By: Talon
Real Estate Holding Corp., its general partner
	 	 
	 	/s/ M.G. Kaminski
	 	By: M.G. Kaminski
	 	Its: CEOExhibit 4.1

 

	
        NUMBER

        U-__________

         

         
	 	
         

         

         
	 	UNITS
	SEE REVERSE FOR CERTAIN DEFINITIONS	TOTTENHAM ACQUISITION I LIMITED	 
	 	 	 	 	 	 

 

CUSIP               

 

UNITS CONSISTING OF ONE ORDINARY SHARE,
ONE WARRANT AND

ONE RIGHT TO RECEIVE ONE-TENTH OF ONE
ORDINARY SHARE

 

THIS CERTIFIES THAT ______________________________________________________________________________________________

 

is the owner of _______________________________________________________________________________________________________
Units.

 

Each Unit (“Unit”) consists
of one ordinary share, par value $.001 per share, of Tottenham Acquisition I Limited, a British Virgin Islands company (the “Company”),
one redeemable warrant (“Warrant”) and one right (“Right”) to receive one-tenth (1/10) of an ordinary share.
Each redeemable Warrant entitles the holder thereof to purchase one-half (1/2) of one ordinary share at a price of $11.50 per full
share (subject to adjustment), upon the later to occur of (i) the Company’s completion of a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses
or entities (a “Business Combination”) or (ii) 12 months from the closing of the Company’s initial public offering.
Every ten Rights entitles the holder thereof to receive one ordinary share upon consummation of the Company’s initial Business
Combination. The ordinary shares, Rights and Warrants comprising the Units represented by this certificate are not transferable
separately prior to the ninetieth (90th) day after the date of the prospectus relating to the Company’s initial public offering,
unless Chardan Capital Markets, LLC (“Chardan”) determines that an earlier date is acceptable, but in no event will
the ordinary shares, Rights and Warrants be traded separately until the Company files with the Securities and Exchange Commission
(the “SEC”) a current report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company
of the gross proceeds from its initial public offering including the proceeds received by the Company from the exercise of the
over-allotment option thereto, if the over-allotment option is exercised. If Chardan allows separate trading of the ordinary shares,
Rights and Warrants prior to the 90th day after the date of the prospectus relating to the Company’s initial public offering,
the Company will issue a press release and file a Current Report on Form 8-K with the SEC announcing when such separate trading
shall begin.

 

The terms of the Warrants and Rights are
governed by a warrant agreement (the “Warrant Agreement”), dated as of [•], 2018, and a rights agreement (the
“Rights Agreement”), dated as of [·], 2018, respectively, both between
the Company and Continental Stock Transfer & Trust Company, as the warrant agent and rights agent, and are subject to the terms
and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof.
Copies of the Rights Agreement and the Warrant Agreement are on file at the office of Continental Stock Transfer & Trust Company
at 1 State Street, 30th Floor, New York, NY 10004, and are available to any Warrant Holder or Rights holder, respectively, on written
request and without cost.

 

This certificate is
not valid unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile
seal of the Company and the facsimile signatures of its duly authorized officers.

 

This Unit Certificate
shall be governed and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws
principles thereof.

 

[Seal]

 

By

 

	Chairman	Chief Financial Officer

 

 

 

 

    	 	1	 

     

    

 

 

 

Tottenham Acquisition I Limited 

 

The Company will furnish
without charge to each shareholder who so requests, a statement of the powers, designations, preferences and relative, participating,
optional or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations,
or restrictions of such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according
to applicable laws or regulations:

 

	TEN COM –	as tenants in common	UNIF GIFT MIN ACT - _____ Custodian ______
	TEN ENT – 	as tenants by the entireties	       (Cust)                      (Minor)
	JT TEN – 	as joint tenants with right of survivorship	 under
Uniform Gifts to Minors
	 	and not as tenants in common	 Act ______________             
	 	   	(State)                            

 

Additional Abbreviations may also be used
though not in the above list.

 

 

For value received, ___________________________
hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE(S)

 

	
        

 

 

 

 

 

 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
INCLUDING ZIP CODE, OF ASSIGNEE(S))

 

 

 

 

 

 

 

______________________________________________________________________ Units

 

represented by the within Certificate,
and do hereby irrevocably constitute and appoint

 

_______________________________________________________________ Attorney

to transfer the said Units on the books
of the within named Company will full power of substitution in the premises.

 

Dated     ___________________

 

 

	 	 
	Notice:	The signature to this assignment must correspond with the name as
written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

 

 

	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

The holder of this certificate shall be entitled to receive
funds with respect to the underlying ordinary shares from the trust fund only in the event of the Company’s liquidation upon
failure to consummate a business combination or if the holder seeks to convert his or her respective ordinary shares underlying
the unit upon consummation of such business combination or in connection with certain amendments to the Company’s Amended
and Restated Memorandum and Articles of Association. In no other circumstances shall the holder have any right or interest of any
kind in or to the trust fund.

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