ACR-D ACRES Commercial Realty Corporation

As previously reported, on July 31, 2020, RCC Real Estate SPE Holdings LLC (“Holdings”), an indirect, wholly-owned subsidiary of ACRES Commercial Realty Corp., and RCC Real Estate SPE 9 LLC (the “Borrower”), a direct, wholly-owned subsidiary of Holdings, entered into a $250 million Loan and Servicing Agreement (“Loan and Servicing Agreement”), as amended, with Massachusetts Mutual Life Insurance Company (“MassMutual”), the other lenders party thereto (the “Lenders”), Wells Fargo Bank, National Association, as the administrative agent and collateral custodian, MassMutual, as the facility servicer, and ACRES Capital Servicing LLC, an affiliate of ACRES Capital, LLC, as the portfolio servicer. Capitalized terms used but not defined herein have the same meanings as in the Loan and Servicing Agreement, a copy of which was included as Exhibit 10.2 to our current report on Form 8-K filed on August 4, 2020 and is incorporated herein by reference.

On July 26, 2022, Holdings, the Borrower and the Lenders entered into the Fifth Amendment to Loan and Servicing Agreement (the “Amendment”) to (i) extend the Availability Period from July 31, 2022 to August 31, 2022 and (ii) amend the interest rate on the outstanding principal amount of the Advances, with respect to Advances made in connection with Eligible Portfolio Assets Transferred to any Borrower after the effective date of the Amendment to the rate per annum determined by the Initial Lender or otherwise 5.75% per annum.

The foregoing description of the Amendment is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.