Item 8.01 Other Events.
On May 21, 2009, Avatar Holdings Inc. (as Guarantor) and its wholly-owned
subsidiary, Avatar Properties Inc. (Borrower), entered into an amendment to the
Amended and Restated Credit Agreement, dated as of March 27, 2008, with Wachovia
Bank, National Association (as a lender and as administrative agent on behalf of
the lenders) and certain financial institutions as lenders (the "Credit
Agreement"). This First Amendment to Credit Agreement clarifies certain
provisions and defines certain terms related to limitations on investments
permitted by the Credit Agreement.
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