Exhibit 10.1

FIRST AMENDMENT TO MASTER REPURCHASE AGREEMENT

THIS FIRST AMENDMENT TO MASTER REPURCHASE AGREEMENT (this “ Amendment ”), dated as of November 6, 2018 (the “ Effective Date ”), is made by and among CITIBANK, N.A. (together with its successors and/or assigns, “ Buyer ”), TRMT CB LENDER LLC , a Delaware limited liability company (“ Seller ”), and for the purpose of acknowledging and agreeing to the provision set forth in Section 3 hereof, TREMONT MORTGAGE TRUST , a Maryland real estate investment trust (“ Guarantor ”).

W I T N E S S E T H :

WHEREAS , Seller and Buyer have entered into that certain Master Repurchase Agreement, dated as of February 9, 2018  (as such agreement may be amended, supplemented, extended, restated, replaced or otherwise modified from time to time, the “ Repurchase Agreement ”);

WHEREAS , all capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Repurchase Agreement;

WHEREAS , Seller and Buyer desire to modify the definition of the Stated Facility Expiration Date as set forth herein.

NOW, THEREFORE , in consideration of ten dollars ($10) and for other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Seller and Buyer covenant and agree as follows as of the Effective Date, and Guarantor acknowledges and agrees as to the provision set forth in Section 3 as of the Effective Date:

1.                                       Modification of Repurchase Agreement .  The following definition in Article 2 of the Repurchase Agreement is hereby deleted in its entirety with the version below substituted therefor:

“Stated Facility Expiration Date” shall mean November 6, 2021 (or if such day is not a Business Day, the next succeeding Business Day).

2.                                       Seller’s Representations .  Seller has taken all necessary action to authorize the execution, delivery and performance of this Amendment.  This Amendment has been duly executed and delivered by or on behalf of Seller and constitutes the legal, valid and binding obligation of Seller enforceable against Seller in accordance with its terms subject to bankruptcy, insolvency, and other limitations on creditors’ rights generally and to equitable principles.  No Event of Default has occurred and is continuing, and no Event of Default will occur as a result of the execution, delivery and performance by Seller of this Amendment.  Any consent, approval, authorization, order, registration or qualification of or with any Governmental Authority required for the execution, delivery and performance by Seller of this Amendment has been obtained and is in full force and effect (other than consents, approvals, authorizations, orders, registrations or qualifications that if not obtained, are not reasonably likely to have a Material Adverse Effect).

3.                                       Reaffirmation of Guaranty .  Guarantor has executed this Amendment for the purpose of acknowledging and agreeing that, notwithstanding the execution and delivery of this

Amendment and the amendment of the Repurchase Agreement hereunder, all of Guarantor’s obligations under the Guaranty remain in full force and effect and the same are hereby irrevocably and unconditionally ratified and confirmed by Guarantor in all respects.

4.                                       Conditions Precedent .  This Amendment and its provision shall become effective upon the execution and delivery of this Amendment by a duly authorized officer of each of Seller, Buyer and Guarantor.

5.                                       Agreement Regarding Expenses .  Seller agrees to pay Buyer’s reasonable out of pocket expenses (including reasonable legal fees) incurred in connection with the preparation and negotiation of this Amendment promptly (and after Buyer or Buyer’s counsel gives Seller an invoice for such expenses).

6.                                       Full Force and Effect .  Except as expressly modified hereby, all of the terms, covenants and conditions of the Repurchase Agreement and the other Transaction Documents remain unmodified and in full force and effect and are hereby ratified and confirmed by Seller.  Any inconsistency between this Amendment and the Repurchase Agreement (as it existed before this Amendment) shall be resolved in favor of this Amendment, whether or not this Amendment specifically modifies the particular provision(s) in the Repurchase Agreement inconsistent with this Amendment.  All references to the “Agreement” in the Repurchase Agreement or to the “Repurchase Agreement” in any of the other Transaction Documents shall mean and refer to the Repurchase Agreement as modified and amended hereby.

7.                                       No Waiver .  The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Buyer under the Repurchase Agreement, the Guaranty, any of the other Transaction Documents or any other document, instrument or agreement executed and/or delivered in connection therewith.

8.                                       Headings .  Each of the captions contained in this Amendment are for the convenience of reference only and shall not define or limit the provisions hereof.

9.                                       Counterparts .  This Amendment may be executed in any number of counterparts, and all such counterparts shall together constitute the same agreement.  Signatures delivered by email (in PDF format) shall be considered binding with the same force and effect as original signatures.

10.                                Governing Law .   This Amendment shall be governed in accordance with the terms and provisions of Article 19 of the Repurchase Agreement.

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IN WITNESS WHEREOF , the parties hereto have caused this Amendment to be executed by their duly authorized representatives as of the day and year first above written and effective as of the Effective Date.

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Exhibit 10.2

FIRST AMENDMENT TO FEE AGREEMENT

FIRST AMENDMENT TO FEE AGREEMENT , dated as of November 6, 2018 (this “ Amendment ”), by and among CITIBANK, N.A. , a national banking association (together with its successors and/or assigns, “ Buyer ”) and TRMT CB LENDER LLC , a Delaware limited liability company (“ Seller ”). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Repurchase Agreement (defined below) or the Fee Agreement (defined below).

RECITALS

WHEREAS , Seller and Buyer have entered into that certain Master Repurchase Agreement, dated as of February 9, 2018 (as such agreement may be amended, supplemented, extended, restated, replaced or otherwise modified from time to time, the “ Repurchase Agreement ”);

WHEREAS , in connection with the Repurchase Agreement, Seller and Buyer entered into that certain Fee Agreement dated as of February 9, 2018 (as the same may be amended, supplemented or otherwise modified from time to time, the “ Fee Agreement ”); and

WHEREAS , Seller and Buyer wish to amend the Fee Agreement as more particularly set forth herein.

NOW THEREFORE , in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer hereby agree as follows:

SECTION 1.         Amendment to Fee Agreement .  The Fee Agreement is hereby modified as of the date hereof as follows:

(a)           The following definitions are hereby added to Section 1 of the Fee Agreement:

““ First Amendment Date ” shall mean November 6, 2018.”

““ Supplemental Upfront Fee ” shall mean an amount equal to $298,175.18.”

(b)           The following definition in Section 1 of the Fee Agreement is hereby deleted in its entirety with the version below substituted therefor.

“Facility Amount” shall mean $135,000,000.

(c)           The following is hereby added as Section 8 of the Fee Agreement:

“Section 8.  Supplemental Upfront Fee .”

“On the First Amendment Date, Seller shall pay to Buyer the Supplemental Upfront Fee.”

SECTION 2.         Omnibus Amendment to Transaction Documents .  Any references to the Fee Agreement in the Transaction Documents shall hereinafter refer to the Fee Agreement as modified by this Amendment.

SECTION 3.         Conditions Precedent .  This Amendment and its provisions shall become effective on the first date on which the following condition precedent is satisfied: execution and delivery of this Amendment by a duly authorized officer of each of Seller and Buyer.

SECTION 4.         Counterparts . This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment in Portable Document Format (PDF) or by facsimile transmission shall be effective as delivery of a manually executed original counterpart thereof.

SECTION 5.         GOVERNING LAW . THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PRINCIPLES THAT WOULD OTHERWISE DIRECT APPLICATION OF THE LAW OF ANOTHER JURISDICTION.

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written.

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