UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported): April 21, 2015

 

United Development Funding Income Fund V
(Exact Name of Registrant as Specified in Its Charter)
                   
Maryland   333-194162 (1933 Act)   46-3890365
(State or other jurisdiction of incorporation or organization)  

(Commission File Number)

 

 

(I.R.S. Employer

Identification No.)

         
                   

1301 Municipal Way, Suite 100, Grapevine, Texas

76051

(Address of principal executive offices)
(Zip Code)
 
(214) 370-8960
(Registrant’s telephone number, including area code)
 
None
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 
 

  

Item 1.01 Entry into a Material Definitive Agreement.

 

As disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission on December 11, 2014, effective December 5, 2014, United Development Funding Income Fund V, a Maryland real estate investment trust (“UDF V”), entered into a loan agreement to provide a $42,372,200 land acquisition and development loan (the “Loan”) to Rosehill Reserve, Ltd., an unaffiliated single-purpose entity (“Borrower”).   On April 21, 2015, UDF V and the Borrower entered into a Loan Modification Agreement which extended the maturity date of the Loan from December 5, 2016 to December 5, 2017. No other material terms of the original loan agreement were changed as a result of the Loan Modification Agreement. The Loan Modification Agreement is effective as of December 5, 2014.

 

 
 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

  United Development Funding Income Fund V
     
     
Dated:  April 21, 2015 By: /s/ Hollis M. Greenlaw
    Hollis M. Greenlaw
    Chief Executive Officer