SEC Contract Filing

Filing Date: 2019-03-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.26
<SEQUENCE>11
<FILENAME>d643263dex1026.htm
<DESCRIPTION>EX-10.26
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.26</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.26 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>SEVENTH AMENDMENT TO AGREEMENT OF LEASE </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Investment Property Group, LLC/Medallion Bank </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS AMENDMENT </B>(this &#147;<B><I>Amendment</I></B>&#148;) is entered into as of the <U>10th</U> day of May, 2017, between <B>INVESTMENT
PROPERTY GROUP, LLC, </B>a Utah limited liability company (&#147;<B><I>Landlord</I></B>&#148;), as <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">successor-in-interest</FONT></FONT> to
<FONT STYLE="white-space:nowrap">B-line</FONT> Holdings, L.C., a Utah Limited Liability company, and <B>MEDALLION BANK</B>, a Utah industrial bank (&#147;<B><I>Tenant</I></B>&#148;). (Landlord and Tenant are referred to in this Amendment
collectively as the &#147;<B><I>Parties</I></B>&#148; and individually as a &#147;<B><I>Party</I></B>.&#148;) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>FOR GOOD AND VALUABLE
CONSIDERATION, </B>the receipt and sufficiency of which are acknowledged, the Parties agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Definition&#151;Lease</U>. As used in this Amendment, &#147;<B><I>Lease</I></B>&#148; means the Agreement of
Lease, dated July&nbsp;3, 2002, as previously amended by (i)&nbsp;the Amendment of Lease Agreement, dated October&nbsp;29, 2004, (ii) the Second Amendment of Lease Agreement, dated January&nbsp;9, 2007, (iii) the Third Amendment of Lease Agreement,
dated October&nbsp;31, 2007, (iv) a second Third Amendment of Lease Agreement, dated November&nbsp;15, 2011, (v) the Fourth Amendment of Lease Agreement, dated November&nbsp;21, 2011, (vi) the Fifth Amendment of Lease Agreement, dated
November&nbsp;26, 2012, and (vii)&nbsp;the Sixth Amendment to Agreement of Lease, dated January&nbsp;26, 2017, all entered into between Landlord or its <FONT STYLE="white-space:nowrap">predecessor-in-interest,</FONT>
<FONT STYLE="white-space:nowrap">B-Line</FONT> 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 (defined below in this <U>Paragraph&nbsp;1</U>). as amended by this Amendment: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Purpose</U>. The Parties desire to expand the Premises currently covered by the Lease as follows, and make
certain other amendments to the Lease, in accordance with the terms and conditions set forth in this Amendment: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;As of July&nbsp;1, 2017 (or as soon thereafter as such additional space is made available by the current tenant to
Landlord), approximately 1,624 usable square feet and approximately 1,873 rentable square feet located on the fifth floor of the Building shall be added to the Premises, and as soon as reasonably practicable thereafter, Tenant shall relinquish to
Landlord approximately 99 rentable square feet (the <FONT STYLE="white-space:nowrap">so-called</FONT> &#147;mother&#146;s room&#148;) of the Premises, with the result that Suite 510 on the fifth floor of the Building will have approximately 8,125
usable square feet and approximately 9,372 rentable square feet. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;In addition, as of August&nbsp;1, 2018, Suite
305 on the third floor of the Building, consisting of approximately 1,148 usable square feet and approximately 1,321 rentable square feet, shall be added to the Premises. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Defined Terms</U>. Effective as of, and for the period on and after, July&nbsp;1, 2017, the following definitions
in <U>Section</U><U></U><U>&nbsp;1</U> of the Lease are revised to read as follows; <I>provided, however,</I> that if the additional 1,873 rentable square feet is added to the Premises after July&nbsp;1, 2017, then the periods set forth below shall
begin on such other date that such addition occurs (as memorialized in a certificate entered into between the Parties); in addition, Tenant shall continue to pay Base Rent on the <FONT STYLE="white-space:nowrap">so-called</FONT> &#147;mother&#146;s
room&#148; of the Premises until relinquished by Tenant to Landlord at the rate of $20.11 per rentable square foot (or $165.91 per month, prorated on a per diem basis for any partial calendar month): </P>
</DIV></Center>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Base Rent </B>means the following amounts per calendar month for the periods indicated:
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELL