RHEP · Regional Health Properties, Inc.

Summary

On February 27, 2026, Regional Health Properties, Inc. and Erin Property Holdings, LLC entered into two Forbearance Agreements effective February 1, 2026 with The Huntington National Bank relating to defaults under USDA Note ($5M original principal) and SBA Note ($800K original principal), both due July 27, 2036. The Lender agreed to forbear from exercising remedies until February 1, 2027, subject to monthly payments and conditions.

Key takeaways

• Entered Forbearance Agreements on February 27, 2026 (effective February 1, 2026) with The Huntington National Bank for USDA Note ($5,000,000 original principal) and SBA Note ($800,000 original principal)
• Borrower to pay $21,047.76 one-time forbearance payment and $6,764.21 2026 USDA annual renewal fee by February 27, 2026
• Forbearance Period ends February 1, 2027; monthly principal and interest payments required during period
• USDA Note outstanding as of February 20, 2026: $3,349,747.47 principal, $14,596.70 interest, $36,132.83 late fees, $336,459.42 attorneys’ fees
• SBA Note outstanding as of February 20, 2026: $504,591.16 principal, $1,990.71 interest, $3,860.36 late fees, $50,683.18 attorneys’ fees
• Prior defaults: missed payments June-November 2024; loan accelerated October 25, 2024; first forbearance expired May 22, 2025