UnitedDevelopment Funding IV amended a forbearance agreement with lendersparty to a 2014 loan agreement.
The loanagreement was between United Development and Waterfall Finance 4 LLC for a $35 million term loan. On May17, United Development entered into a forbearance agreement with Waterfall EdenMaster Fund Ltd., Waterfall Sandstone Fund LP and HEDCO ABS Ltd., assuccessors-in-interest to Waterfall Finance.
The amendment extends the forbearance period to Sept. 30from Aug. 4.
United Development repaid all remaining outstandingprincipal and interest under the loan to lenders Sept. 29.