{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-042796","form_type":"8-K","ticker":null,"cik":"0001784567","company_name":"Harbor Custom Development, Inc.","filed_at":"2023-11-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.424134+00:00","generated_at":"2026-06-07T21:34:15.911251+00:00","sec_items":["2.04","5.02"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Harbor Custom Development defaults on $707,790 principal payment to BankUnited; director resigns","bullets":["Failed to make $707,790.41 principal payment to BankUnited on Nov 20, 2023, triggering Event of Default under Loan Agreement.","Lender may accelerate all amounts due; no written notice of acceleration received as of filing date.","Director Larry Swets resigned from Board effective Nov 21, 2023, not due to any disagreement with management or Board."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-042796","json":"https://secwatch.observer/filing/0001493152-23-042796.json","markdown":"https://secwatch.observer/filing/0001493152-23-042796.md","text":"https://secwatch.observer/filing/0001493152-23-042796.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1784567/000149315223042796/0001493152-23-042796-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1784567/000149315223042796/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T21:34:15.911251+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4d134750063e064f3bded01520859ba9e7f1fb64","claim":"Harbor Custom Development, Inc. reported a default on credit facility of $707,790.41 of principal with BankUnited, N.A..","evidence_excerpt":"On November 20, 2023, Harbor Custom Development, Inc., a Washington corporation (the “Company”), failed to make the payment of $707,790.41 of principal required to be made on that date pursuant to the Company’s Loan Agreement with BankUnited, N.A. (the “Lender”), dated March 7, 2022 (the “Loan”) and the Amendment to the Loan Agreement, dated February 22, 2023 (the “Amendment”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1784567/000149315223042796/0001493152-23-042796-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$707,790.41 of principal"},{"label":"Counterparty","value":"BankUnited, N.A."},{"label":"Event","value":"default"}],"fact_type":"debt_financing"},{"claim_id":"abb3cf8b62","claim":"Larry Swets resigned as Director at Harbor Custom Development, Inc..","evidence_excerpt":"On November 21, 2023, Larry Swets, a member of the Board of Directors (the “Board”) of the Company, gave notice of his resignation from the Board, effective November 21, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1784567/000149315223042796/0001493152-23-042796-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}