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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C.  20549**

**FORM        10-Q**

**       **

**       [Mark        One]**

**QUARTERLY        REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE**
**SECURITIES        EXCHANGE ACT OF 1934**

**For        the quarterly period ended September 30, 2007**

**OR**

**TRANSITION        REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE **
**SECURITIES        EXCHANGE ACT OF 1934**

**For        the transition period from ____________        to ____________**

**Commission        File Number: 333-127891 (1933 Act)**

| **United                  Development Funding III, L.P.**                                                                 |
|---------------------------------------------------------------------------------------------------------------------------|
| (Exact                  Name of Registrant as Specified in Its Charter)                                                   |
|                                                                                                                      |   |   |   |   |   |   |   |   |   |
| **Delaware**                                                                                                              |   |   |   | **20-3269195** |
| (State                  or other jurisdiction of incorporation                  or organization)                          |   |   |   | (I.R.S.                  EmployerIdentification                  No.) |
|                                                                                                                      |   |   |   |   |   |   |   |   |   |
| **1702                  N. Collins Boulevard, Suite 100, Richardson,                  Texas 75080**                  |
| (Address                  of principal executive offices)                                                                 |
| (Zip                  Code)                                                                                               |
|                                                                                                                      |
| **Registrant’s                  telephone number, including area code:  (214)                  370-8960** |
|                                                                                                                      |
| **N/A**                                                                                                                   |
| (Former                  name, former address and former fiscal year, if changed since last                  report)      |

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**UNITED      DEVELOPMENT FUNDING III, L.P.**

**FORM      10-Q**

**Quarter      Ended September 30, 2007**

**PART      I**

**FINANCIAL      INFORMATION**

|                       |                                                                                                                                                                                                                                                                                       | **Page** |
|----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
| **Item                1.** | **Financial                Statements.**                                                                                                                                                                                                                                                   |     |
|                       | Balance                Sheets as of September 30, 2007 (Unaudited) and December 31, 2006                (Audited)                ...............................................................................................................                                      | 3        |
|                       | Statements                of Operations for the three and nine months ended September 30,                2007 and 2006 (Unaudited)                ................................................................................                                                    | 4        |
|                       | Statements                  of Cash Flows for the nine months ended September 30,                  2007 and                  2006 (Unaudited) .................................................................................................                   | 5        |
|                       | Notes                  to Financial Statements (Unaudited)                  .............................................................................................................................................................................................                  | 6        |
| **Item                2.** | **Management’s                Discussion and Analysis of Financial Condition and Results of                Operations.** ......................................................................................................                                                 | 10       |
| **Item                3.** | **Quantitative                and Qualitative Disclosures About Market                Risk. **.........................................................................................................................................................                               | 19       |
| **Item                4.** | **Controls                and                Procedures. **.......................................................................................................................................................................................................................... | 20       |

**PART        II**

**OTHER        INFORMATION**

|                          |                                                                                                                                                                                                                                                                                        | **Page** |
|-------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
| **Item                  1.**  | **Legal                  Proceedings. **.....................................................................................................................................................................................................................................          | 21       |
| **Item                  1A.** | **Risk                  Factors. **................................................................................................................................................................................................................................................    | 21       |
| **Item                  2**   | **Unregistered                  Sales of Equity Securities and Use of                  Proceeds. **...........................................................................................................................................................                         | 21       |
| **Item                  5**   | **Other                Information.**                ...................................................................................................................................................................................................................................... | 21       |
| **Item                  6.**  | **Exhibits. **.........................................................................................................................................................................................................................................................                | 22       |
| **Signatures.**               | .........................................................................................................................................................................................................................................................................                   | 23       |

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**PART        I**

**FINANCIAL        INFORMATION**

**Item        1. Financial Statements.**

**UNITED        DEVELOPMENT FUNDING III, L.P.**

**BALANCE        SHEETS**

|                                                                                      |   | **September                  30, 2007****(Unaudited)** |       |   | **December                  31, 2006****(Audited)** |   |
|-------------------------------------------------------------------------------------------|--------|--------------------------------------------------------|------------|--------|-----------------------------------------------------|--------|
| **Assets**                                                                                |   |                                                   |       |   |                                                |   |
| Cash                  and cash equivalents                                                |   | $                                                      | 250,417    |   |                                                | $      | 672,107 |   |
| Restricted                  cash                                                          |   |                                                   | 1,680,205  |   |                                                |   | 588,516 |   |
| Accrued                  interest receivable – related party                        |   |                                                   | 599,456    |   |                                                |   | 6,241 |   |
| Mortgage                  notes receivable, net                                           |   |                                                   | 55,649,722 |   |                                                |   | 11,422,063 |   |
| Mortgage                  notes receivable – related party, net                     |   |                                                   | 19,135,723 |   |                                                |   | 6,328,010 |   |
| Partnership                  interest subscriptions receivable                            |   |                                                   | 100        |   |                                                |   | 100 |   |
| Deferred                  offering costs                                                  |   |                                                   | 2,642,002  |   |                                                |   | 2,047,133 |   |
| Other                  assets                                                             |   |                                                   | 114,561    |   |                                                |   | 167,484 |   |
|                                                                                      |   |                                                   |       |   |                                                |   |   |   |
| Total                  assets                                                             |   | $                                                      | 80,072,186 |   |                                                | $      | 21,231,654 |   |
|                                                                                      |   |                                                   |       |   |                                                |   |   |   |
| **Liabilities                  and Partners’ Capital**                              |   |                                                   |       |   |                                                |   |   |   |
| Liabilities:                                                                              |   |                                                   |       |   |                                                |   |   |   |
| Accounts                  payable                                                         |   | $                                                      | 2,851      |   |                                                | $      | 2,413 |   |
| Accrued                  liabilities                                                      |   |                                                   | 11,983     |   |                                                |   | 66,927 |   |
| Accrued                  liabilities – related party                                |   |                                                   | 2,717,997  |   |                                                |   | 2,238,805 |   |
| Escrow                  payable                                                           |   |                                                   | 1,680,205  |   |                                                |   | 588,516 |   |
| Line                  of credit                                                           |   |                                                   | 1,850,000  |   |                                                |   | 6,436,402 |   |
|                                                                                      |   |                                                   |       |   |                                                |   |   |   |
| Total                  liabilities                                                        |   |                                                   | 6,263,036  |   |                                                |   | 9,333,063 |   |
|                                                                                      |   |                                                   |       |   |                                                |   |   |   |
| Commitments                  and contingencies                                            |   |                                                   | -          |   |                                                |   | - |   |
|                                                                                      |   |                                                   |       |   |                                                |   |   |   |
| Partners’                  Capital:                                                 |   |                                                   |       |   |                                                |   |   |   |
| Limited                  partners’ capital:  17,500,000 units authorized; |   |                                                   |       |   |                                                |   |   |   |
| 4,105,552                  units issued and outstanding at                                |   |                                                   |       |   |                                                |   |   |   |
| September                  30, 2007 and 661,191 units issued and                          |   |                                                   |       |   |                                                |   |   |   |
| outstanding                  at December 31, 2006                                         |   |                                                   | 73,723,735 |   |                                                |   | 11,879,843 |   |
| General                  partner’s capital                                          |   |                                                   | 85,415     |   |                                                |   | 18,748 |   |
|                                                                                      |   |                                                   |       |   |                                                |   |   |   |
| Total                  partners’ capital                                            |   |                                                   | 73,809,150 |   |                                                |   | 11,898,591 |   |
|                                                                                      |   |                                                   |       |   |                                                |   |   |   |
| Total                  liabilities and partners’ capital                            |   | $                                                      | 80,072,186 |   |                                                | $      | 21,231,654 |   |

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**UNITED        DEVELOPMENT FUNDING III, L.P.**

**STATEMENTS        OF OPERATIONS**

**(Unaudited)**

|                                                                 |   | **Three                  Months Ended** |      |   | **Nine                  Months Ended** |   |
|----------------------------------------------------------------------|--------|-----------------------------------------|-----------|--------|----------------------------------------|--------|
|                                                                 |   | **September                  30,**      |      |   | **September                  30,**     |   |
|                                                                 |   | **2007**                                |      |   | **2006**                               |   |   | **2007** |   |   | **2006** |   |
| Revenues:                                                            |   |                                    |      |   |                                   |   |   |   |   |   |   |   |
| Interest                  income                                     |   | $                                       | 2,195,552 |   |                                   | $      | 79,929 |   |   | $ | 4,522,154 |   |   | $ | 79,929 |   |
| Credit                  enhancement fees – related party       |   |                                    | 142,553   |   |                                   |   | - |   |   |   | 438,946 |   |   |   | - |   |
| Mortgage                  and transaction service revenues           |   |                                    | 236,884   |   |                                   |   | 19,465 |   |   |   | 483,991 |   |   |   | 19,465 |   |
| Total                  revenues                                      |   |                                    | 2,574,989 |   |                                   |   | 99,394 |   |   |   | 5,445,091 |   |   |   | 99,394 |   |
|                                                                 |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                            |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  expense                                    |   |                                    | 2,853     |   |                                   |   | - |   |   |   | 195,122 |   |   |   | - |   |
| General                  and administrative                          |   |                                    | 449,674   |   |                                   |   | 31,913 |   |   |   | 954,737 |   |   |   | 32,435 |   |
| Total                  expenses                                      |   |                                    | 452,527   |   |                                   |   | 31,913 |   |   |   | 1,149,859 |   |   |   | 32,435 |   |
|                                                                 |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  income                                          |   | $                                       | 2,122,462 |   |                                   | $      | 67,481 |   |   | $ | 4,295,232 |   |   | $ | 66,959 |   |
|                                                                 |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings                  per unit, basic and diluted                |   | $                                       | 0.61      |   |                                   | $      | 0.57 |   |   | $ | 1.93 |   |   | $ | 1.69 |   |
|                                                                 |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted                  average units outstanding                  |   |                                    | 3,497,625 |   |                                   |   | 117,858 |   |   |   | 2,228,133 |   |   |   | 39,573 |   |
|                                                                 |   |                                    |      |   |                                   |   |   |   |   |   |   |   |   |   |   |   |
| Distributions                  declared per limited partnership unit |   | $                                       | 0.37      |   |                                   | $      | 0.06 |   |   | $ | 0.80 |   |   | $ | 0.06 |   |

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**UNITED        DEVELOPMENT FUNDING III, L.P.**

**STATEMENTS        OF CASH FLOWS**

**(Unaudited)**

|                                                                                                               |   | **Nine                  Months Ended** |          |
|--------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|---------------|
|                                                                                                               |   | **September                  30,**     |          |
|                                                                                                               |   | **2007**                               |          |   | **2006** |   |
| **Operating                  Activities**                                                                          |   |                                   |          |   |   |   |
|                                                                                                               |   |                                   |          |   |   |   |
|  Net                  income                                                                                  |   | $                                      | 4,295,232     |   |   | $ | 66,959 |   |
| Adjustment                  to reconcile net income to net cash provided by operating                  activities: |   |                                   |          |   |   |   |   |   |
| Provision                  for loan losses                                                                         |   |                                   | 45,222        |   |   |   | - |   |
| Amortization                                                                                                       |   |                                   | 44,941        |   |   |   | - |   |
| Changes                  in operating assets and liabilities:                                                      |   |                                   |          |   |   |   |   |   |
| Accrued                  interest receivable – related party                                                 |   |                                   | (593,215      | ) |   |   | - |   |
| Other                  assets                                                                                      |   |                                   | 7,982         |   |   |   | (5,194 | ) |
| Accounts                  payable                                                                                  |   |                                   | 438           |   |   |   | - |   |
| Accounts                  payable – related party                                                            |   |                                   | -             |   |   |   | 19,504 |   |
| Accrued                  liabilities                                                                               |   |                                   | (54,944       | ) |   |   | - |   |
| Net                  cash provided by operating activities                                                         |   |                                   | 3,745,656     |   |   |   | 81,269 |   |
|                                                                                                               |   |                                   |          |   |   |   |   |   |
| ** Investing                  Activities**                                                                    |   |                                   |          |   |   |   |   |   |
|  Investments                  in mortgage notes receivable                                                    |   |                                   | (48,317,280   | ) |   |   | (3,695,431 | ) |
|  Investments                  in mortgage notes receivable – related party                              |   |                                   | (12,893,499   | ) |   |   | - |   |
|  Receipts                  from mortgage notes receivable                                                     |   |                                   | 4,044,399     |   |   |   | - |   |
|  Receipts                  from mortgage notes receivable – related party                               |   |                                   | 85,786        |   |   |   | - |   |
| Net                  cash used in investing activities                                                             |   |                                   | (57,080,594   | ) |   |   | (3,695,431 | ) |
|                                                                                                               |   |                                   |          |   |   |   |   |   |
| **Financing                  Activities**                                                                          |   |                                   |          |   |   |   |   |   |
|  Payments                  on line-of-credit, net                                                             |   |                                   | (4,586,402    | ) |   |   | - |   |
|  Limited                  partner contributions                                                               |   |                                   | 68,040,878    |   |   |   | 3,995,678 |   |
|  Limited                  partner distributions                                                               |   |                                   | (2,774,546    | ) |   |   | (7,096 | ) |
|  Limited                  partner distribution reinvestment                                                   |   |                                   | 846,280       |   |   |   | - |   |
|  General                  partner distributions                                                               |   |                                   | (379,202      | ) |   |   | (1,437 | ) |
|  Partnership                  interest subscriptions receivable                                               |   |                                   | -             |   |   |   | 900 |   |
|  Escrow                  payable                                                                              |   |                                   | 1,091,689     |   |   |   | 178,200 |   |
|  Restricted                  cash                                                                             |   |                                   | (1,091,689    | ) |   |   | (178,200 | ) |
|  Payments                  of offering costs                                                                  |   |                                   | (8,118,083    | ) |   |   | (460,178 | ) |
|  Payments                  of deferred offering costs                                                         |   |                                   | (594,869      | ) |   |   | (835,007 | ) |
|  Accrued                  liabilities – related party                                                   |   |                                   | 479,192       |   |   |   | 950,095 |   |
| Net                  cash provided by financing activities                                                         |   |                                   | 52,913,248    |   |   |   | 3,642,955 |   |
|                                                                                                               |   |                                   |          |   |   |   |   |   |
| Net                  increase (decrease) in cash and cash equivalents                                              |   |                                   | (421,690      | ) |   |   | 28,793 |   |
| Cash                  and cash equivalents at beginning of period                                                  |   |                                   | 672,107       |   |   |   | - |   |
|                                                                                                               |   |                                   |          |   |   |   |   |   |
| Cash                  and cash equivalents at end of period                                                        |   | $                                      | 250,417       |   |   | $ | 28,793 |   |
|                                                                                                               |   |                                   |          |   |   |   |   |   |
|  **Supplemental                Disclosure of Cash Flow Information**                                          |   |                                   |          |   |   |   |   |   |
|                   Cash paid during the period for interest                                               |   | $                                      | 196,694  |   |   | $ | -  |   |

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**UNITED        DEVELOPMENT FUNDING III, L.P.**

**NOTES        TO FINANCIAL STATEMENTS**

**A.        Nature of Business**

**B.        Basis of Presentation**

**Reclassification**

**C.        Registration Statement**

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**D.  Line        of Credit**

**E.  Partners’        Capital**

**F.  Commitments        and Contingencies**

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**G.        Related Party Transactions**

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|                              |                                                       |   | For                  the Nine       |      |
|-----------------------------------|------------------------------------------------------------|--------|-------------------------------------|-----------|
|                              |                                                       |   | Months                  Ended       |      |
| Payee                             | Purpose                                                    |   | September                  30, 2007 |      |
| Land                  Development |                                                       |   |                                |      |
|                              | Organization                  &                        |   |                                |      |
|                              |     Offering                  Expenses |   | $                                   | 1,019,900 |   |
|                              | Due                  Diligence Fees                        |   |                                | 340,000   |   |
|                              | Wholesaler                  Reimbursement                  |   |                                | 153,600   |   |
|                              | Acquisition                  & Origination             |   |                                |      |   |
|                              |     Expenses                  and Fees |   |                                | 1,830,500 |   |
|                              | Promotional                  Interest                      |   |                                | 330,600   |   |
|                              | Carried                  Interest                          |   |                                | 83,200    |   |
|                              | Mortgage                  Servicing Fee                    |   |                                | 48,600    |   |
| Funding                  Services |                                                       |   |                                |      |   |
|                              | Marketing                  Support Fees                    |   |                                | 820,600   |   |

**H.  Subsequent        Events**

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**.**

**Item        2. **
**Management’s Discussion and Analysis of Financial Condition        and Results of Operations.**

***Forward-Looking        Statements***

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***Overview***

|   | • | to                  make, originate or acquire a participation interest in various                  mortgage                  loans (secured by first priority or junior priority liens against                  real                  property or liens against equity interests of entities that hold                  real                  property) typically in the range of $500,000 to $10,000,000, and                  to                  provide credit enhancements to real estate developers and regional                  and                  national homebuilders who acquire real property, subdivide such                  real                  property into single-family residential lots and sell such lots                  to                  homebuilders or build homes on such                  lots; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | to                  produce net interest income from the interest on loans that we                  originate                  or purchase or in which we acquire a participation                  interest; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | to                  produce a profitable fee from our credit enhancement                  transactions; |
|--------|---------|---------------------------------------------------------------------------------------------------------|

|   | • | to                  produce income through origination, commitment and credit enhancement                  fees                  charged to borrowers; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | to                  maximize distributable cash to investors;                  and |
|--------|---------|------------------------------------------------------------------------------------|

|   | • | to                  preserve, protect and return capital                  contributions. |
|--------|---------|------------------------------------------------------------------------------------------|

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***Current        Public Offering***

***Critical        Accounting Policies and Estimates***

*Revenue        Recognition*

*Accounting for        Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans        and        Initial Direct Costs of Leases, *

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*Determination        of the Allowance for Loan Losses*

*Mortgage        Notes Receivable and Mortgage Notes Receivable – Related Party*

*Cash        Flow Distributions*

** **

***Results        of Operations***

*The        three months ended September 30, 2007 as compared to the three months ended        September 30, 2006.*

*Revenues*

*Accounting for Nonrefundable Fees and Costs        Associated with Originating or Acquiring Loans and Initial Direct Costs of        Leases, *
** **

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*Expenses*

*The        nine months ended September 30, 2007 as compared to the nine months ended        September 30, 2006.*

*Revenues*

** **

*Accounting for Nonrefundable Fees and Costs        Associated with Originating or Acquiring Loans and Initial Direct Costs of        Leases, *

*Expenses*

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***Cash        Flow Analysis***

***Liquidity        and Capital Resources***

***Material        Trends Affecting Our Business***

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**10      Year Home Price Appreciation:**

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***Off-Balance          Sheet Arrangements***

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***Contractual          Obligations***

**Item          3. Quantitative and Qualitative Disclosures About Market          Risk.**

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**Item          4. Controls and Procedures.**

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**PART          II**

**OTHER          INFORMATION**

**Item          1. Legal Proceedings.**

**Item          1A. Risk Factors.**

**Item          2. Unregistered Sales of Equity Securities and Use of          Proceeds.**

**Item          5.  Other Information.**

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** **

**Item          6. Exhibits.**

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**SIGNATURES**

|   | **United                Development                Funding III, L.P.** |                                       |
|--------|------------------------------------------------------------------------|--------------------------------------------|
|   |                                                                   |                                       |   |
|   | By:                                                                    | UMTH                Land Development, L.P. |   |
|   |                                                                   | Its                General Partner         |   |

|                                                          |   |                                                                                                                                                                                                      |
|---------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                          |   |                                                                                                                                                                                                      |   |
| Dated:  November                      14, 2007 | By:    | /s/ Hollis                M. Greenlaw                                                                                                                                                                |   |
|                                                          |   | Hollis                M. Greenlaw                                                                                                                                                                         |   |
|                                                          |   | Chief                Executive Officer, and                President and Chief Executive Officer of UMT Services, Inc., sole                general                partner of UMTH Land Development, L.P. |   |
|                                                          |   | (Principal                Executive                Officer)                                                                                                                                               |   |

|   |   |                                                        |
|--------|--------|-------------------------------------------------------------|
|   |   |                                                        |   |
|   | By:    | /s/ Cara                D. Obert                       |   |
|   |   | Cara                D. Obert                                |   |
|   |   | Chief                Financial Officer                      |   |
|   |   | (Principal                Financial                Officer) |   |

----

**Index          to Exhibits**

**Exhibit          Number                                           Description**

| 3.1 | Second                    Amended and Restated Agreement of Limited Partnership of Registrant                    (previously filed in and incorporated by reference to Exhibit                    B to                    prospectus dated May 15, 2006, filed pursuant to Rule 424(b)(3)                    on May 18,                    2006) |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | Certificate                    of Limited Partnership of Registrant (previously filed in and                    incorporated                    by reference to Registrant’s Registration Statement on Form S-11,                    Commission File No. 333-127891, filed on August 26,                    2005) |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.1 | Subscription                    Agreement (previously filed in and incorporated by reference                    to Exhibit C                    to Supplement No. 2 to prospectus dated May 15, 2006, contained                    within                    Post-Effective Amendment No. 1 to Registrant’s Registration Statement on                    Form S-11, Commission File No. 333-127891, filed on April 30,                    2007) |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.1   | Secured                    Line of Credit Promissory Note by United Development Funding                    X, L.P.                    (filed herewith) |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2   | Security                    Agreement by United Development Funding X, L.P. in favor of Registrant                    (filed herewith) |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------|

| 10.3   | Continuing                    Unconditional Guaranty by UMT Holdings, L.P. for the benefit                    of Registrant                    (filed herewith) |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.4   | Fairness                    opinion with respect to Secured Line of Credit Promissory Note                    by United                    Development Funding X, L.P. for the benefit of Registrant (filed                    herewith) |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.1 | Rule                    13a-14(a)/15d-14(a) Certification of Principal Executive Officer                    (filed                    herewith) |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Rule                    13a-14(a)/15d-14(a) Certification of Principal Financial Officer                    (filed                    herewith) |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1* | Section                    1350 Certifications (furnished                    herewith) |
|-------|----------------------------------------------------------------------------------------|

| * | In                    accordance with Item 601(b)(32) of Regulation S-K, this Exhibit                    is not                    deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise                    subject to the liabilities of that section.  Such certifications                    will not be deemed incorporated by reference into any filing                    under the                    Securities Act of 1933, as amended, or the Exchange Act, except                    to the                    extent that the registrant specifically incorporates it by                    reference. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|