stating the unpaid
balance of the indebtedness evidenced by this Note and the Related Indebtedness
and that there are no offsets or defenses against full payment of the
indebtedness evidenced by this Note and the Related Indebtedness and the terms
hereof, or if there are any such offsets or defenses, specifying them.
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Section 4.21
ENTIRE AGREEMENT. THIS NOTE AND THE OTHER LOAN DOCUMENTS
CONTAIN THE FINAL, ENTIRE AGREEMENT BETWEEN THE PARTIES HERETO RELATING TO THE
SUBJECT MATTER HEREOF AND THEREOF AND ALL PRIOR AGREEMENTS, WHETHER WRITTEN OR
ORAL, RELATIVE HERETO AND THERETO WHICH ARE NOT CONTAINED HEREIN OR THEREIN ARE
SUPERSEDED AND TERMINATED HEREBY, AND THIS NOTE AND THE OTHER LOAN DOCUMENTS MAY
NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR
SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES HERETO.
Section 4.22
Amendment and Restatement. The terms and provisions of that
certain Promissory Note, dated as of July 2, 2014 (the "Original Note") given by
Borrower to Waterfall Finance 4, LLC (the "Original Lender") are hereby amended
and restated in their entirety by the terms and provisions of this Note. This
Note is not intended to, and shall not, effect a novation of any of the
obligations of the Borrower under the Original Note, but merely an amendment and
restatement of the terms governing such obligations.
REMAINDER OF PAGE LEFT BLANK - SIGNATURE PAGE FOLLOWS
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IN WITNESS WHEREOF, Borrower, intending to be legally bound hereby, has duly
executed this Note as of the day and year first written above.
BORROWER:
UNITED DEVELOPMENT FUNDING IV, a real estate
Investment trust organized
under the laws of the State of Maryland
By: /s/ Hollis M. Greenlaw
Hollis M. Greenlaw, Chief Executive Officer
Address of Lender for
purposes of notice hereunder:
WATERFALL EDEN MASTER FUND, LTD.
WATERFALL SANDSTONE FUND, LTD.
HEDCO ABS, LTD.
c/o Waterfall Asset Management, LLC
1140 Avenue of the Americas, 7th Floor
New York, New York 10036
Attn: Kenneth Nick
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