<HTML>
<HEAD>
<TITLE>8-K</TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold" FSL="Default" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>WASHINGTON, DC 20549</FONT></H1>

<HR SIZE="2" COLOR="BLACK" NOSHADE="NOSHADE">

<!-- MARKER FORMAT-SHEET="Head Major Center Bold" FSL="Default" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>FORM 8-K<BR>
CURRENT REPORT</FONT></H1>


<!-- MARKER FORMAT-SHEET="Head Minor Center" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
of Report (Date of earliest event reported): September 12, 2008</FONT></P>

<P ALIGN=CENTER> <FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>NTS MORTGAGE INCOME FUND</B></FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact name of registrant as specified in its charter)</FONT></P>

<TABLE WIDTH=60% ALIGN=CENTER>
<TR VALIGN=BOTTOM>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Delaware</B> </FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>0-18550</B> </FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>61-1146077</B> </FONT></TD></TR>
<TR VALIGN=BOTTOM>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(State or other</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Commission file</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(IRS Employer</FONT></TD></TR>
<TR VALIGN=BOTTOM>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">jurisdiction of</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">number)</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Identification No.)</FONT></TD></TR>
<TR VALIGN=BOTTOM>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">incorporation)</FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
<TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD></TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>10172 Linn Station Road</B><BR>
<B>Louisville, Kentucky 40223</B><BR>
(Address of principal executive offices)</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>(502) 426-4800</B><BR>
(Registrant&#146;s telephone number, including area code)</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Sub 1 Left" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>N/A</B><BR>
(Former name or former address, if changed since last report)</FONT></P>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:</FONT></P>

<TABLE WIDTH=100%>
<TR>
<TD WIDTH=5%></TD>
<TD WIDTH=95%></TD></TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp; ]</FONT></TD><TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp; ]</FONT></TD><TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp; ]</FONT></TD><TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp; ]</FONT></TD><TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR>
</TABLE>

<HR SIZE="2" COLOR="BLACK" NOSHADE="NOSHADE">



<!-- MARKER PAGE="sheet: 1; page: 1" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<H1 Align=LEFT><Font Face="Times New Roman, Times, Serif" Size=2>Item 1.01. Entry into
Material Definitive Agreements. </font></h1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Workstation" -->
<P><Font Face="Times New Roman, Times, Serif" Size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
September 2, 2008, NTS Mortgage Income Fund, Inc. (the &#147;Fund&#148;) filed a current
report on Form 8-K announcing that National City Bank notified the Fund it had that it
agreed to extend the maturity date of the mortgage note payable in the amount of $7.5
million (the &#147;Loan&#148;) from the Fund&#146;s two wholly owned subsidiaries
(NTS/Virginia Development Company, a Virginia corporation, and NTS/Lake Forest II
Residential Corporation, a Kentucky corporation, collectively, the &#147;Borrowers&#148;)
from August 31, 2008 to August 31, 2009. </font></p>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Workstation" -->
<P><Font Face="Times New Roman, Times, Serif" Size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
September 25, 2008, the Borrowers and National City Bank executed the documentation to
extend the maturity date of the Loan as previously agreed and upon such further terms and
conditions as are set forth in the documentation. A copy of the executed documentation is
attached to this current report on Form 8-K as Exhibits 10.1 &#150; 10.3 and is
incorporated in its entirety in this Item 1.01 disclosure by reference. </font></p>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Workstation" -->
<P><Font Face="Times New Roman, Times, Serif" Size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
previously disclosed, pursuant to the terms of the Loan, the Borrowers must cause NTS
Guaranty Corporation to provide an unconditional and continuing guaranty in favor of
National City Bank to secure the Loan. This guaranty is limited to NTS Guaranty
Corporation&#146;s assets, which consist solely of a $10 million demand note from Mr. J.
D. Nichols, the Fund&#146;s Chairman. In the event this guaranty is needed to repay all or
a portion of the Loan, NTS Guaranty Corporation&#146;s assets available for other
guaranties made by NTS Guaranty Corporation, including the capital return guaranty for the
benefit of the Fund&#146;s stockholders pursuant to that certain Guaranty Agreement dated
as of March 31, 1989, will be reduced by the amount used to repay the Loan. </font></p>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Workstation" -->
<P><Font Face="Times New Roman, Times, Serif" Size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the Borrowers agreed to make a principal prepayment under the Loan in the amount
of $2.4 million on or before December 1, 2008. On September 12, 2008, Orlando Lake Forest
Joint Venture, a joint venture (&#147;OLFJV&#148;) in which the Fund owns a 50% interest,
entered into a Purchase and Sale Agreement with an unaffiliated third party. This
Agreement provides for OLFJV to sell its 11-acre parcel of commercial land in Florida.
Upon the closing of this transaction, the Fund will be entitled to receive approximately
$2.69 million in proceeds from the sale. The Fund presently intends to use the proceeds of
the sale to make the required December 1, 2008 principal repayment on the Loan. Although
the Fund believes that OLFJV will be able to complete the sale of the 11-acre commercial
land, there can be no assurance that the sale will occur in a timely fashion or at all. </font></p>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-Arial" FSL="Workstation" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01. Financial
Statements and Exhibits. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Financial
Statements of Businesses Acquired: N/A</FONT></TD>
</TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pro
Forma Financial Information: N/A</FONT></TD>
</TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shell Company
Transactions: N/A</FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Para (List) Hang LV 1-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Exhibits:</U></FONT></TD>
</TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;10.1</FONT></TD>
<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Sixth Mortgage Loan Modification Agreementt</FONT></TD>
</TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;10.2</FONT></TD>
<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Sixth Amended and Restated Promissory Note Construction Mortgage Loan</FONT></TD>
</TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para (List) Hang Lv 2 -TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;10.3</FONT></TD>
<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Unconditional and Continuing Guaranty</FONT></TD>
</TR>
</TABLE>
<Br>
<Br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2</FONT></P>


<!-- MARKER PAGE="sheet: 2; page: 2" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>



<!-- MARKER FORMAT-SHEET="Head Major Center Bold" FSL="Default" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned thereunto duly authorized. </FONT></P>
<BR>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>NTS MORTGAGE INCOME FUND</B></FONT></P>

<IMG SRC="gaw_signature.jpg" HEIGHT="50" WIDTH="175">

<TABLE WIDTH=40%>
<TR>
<TD WIDTH=3%></TD>
<TD WIDTH=37%></TD></TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:</FONT></TD><TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Gregory A. Wells</FONT></TD></TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Its:</FONT></TD><TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Chief Financial Officer</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD><TD></TD></TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date:</FONT> </TD><TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">September 25, 2008</FONT></TD></TR>
</TABLE>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">3</FONT></P>


</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "mif_8k09122008.htm", "description": "FORM 8-K", "secsgml_size_bytes": 13222}, {"type": "8-K", "sequence": "6", "filename": "mif_8k09122008.pdf", "description": "FORM 8-K W/EXHIBITS (PDF)", "secsgml_size_bytes": 1044941}]
{"company-data": {"conformed-name": "NTS MORTGAGE INCOME FUND", "cik": "0000841942", "assigned-sic": "6798", "irs-number": "611146077", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18550", "film-number": "081088996"}, "business-address": {"street1": "10172 LINN STATION ROAD", "street2": "SUITE 200", "city": "LOUISVILLE", "state": "KY", "zip": "40223", "phone": "502-426-4800"}, "mail-address": {"street1": "10172 LINN STATION ROAD", "street2": "SUITE 200", "city": "LOUISVILLE", "state": "KY", "zip": "40223"}, "former-company": {"former-conformed-name": "NTS HIGH INCOME FUND", "date-changed": "19890212"}}
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): September 12, 2008
NTS MORTGAGE INCOME FUND
(Exact name of registrant as specified in its charter)
Delaware
0-18550
61-1146077
(State or other
(Commission file
(IRS Employer
jurisdiction of
number)
Identification No.)
incorporation)
10172 Linn Station Road
Louisville, Kentucky 40223
(Address of principal executive offices)
(502) 426-4800
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
[   ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into
Material Definitive Agreements.
On
September 2, 2008, NTS Mortgage Income Fund, Inc. (the "Fund") filed a current
report on Form 8-K announcing that National City Bank notified the Fund it had that it
agreed to extend the maturity date of the mortgage note payable in the amount of $7.5
million (the "Loan") from the Fund's two wholly owned subsidiaries
(NTS/Virginia Development Company, a Virginia corporation, and NTS/Lake Forest II
Residential Corporation, a Kentucky corporation, collectively, the "Borrowers")
from August 31, 2008 to August 31, 2009.
On
September 25, 2008, the Borrowers and National City Bank executed the documentation to
extend the maturity date of the Loan as previously agreed and upon such further terms and
conditions as are set forth in the documentation. A copy of the executed documentation is
attached to this current report on Form 8-K as Exhibits 10.1 – 10.3 and is
incorporated in its entirety in this Item 1.01 disclosure by reference.
As
previously disclosed, pursuant to the terms of the Loan, the Borrowers must cause NTS
Guaranty Corporation to provide an unconditional and continuing guaranty in favor of
National City Bank to secure the Loan. This guaranty is limited to NTS Guaranty
Corporation's assets, which consist solely of a $10 million demand note from Mr. J.
D. Nichols, the Fund's Chairman. In the event this guaranty is needed to repay all or
a portion of the Loan, NTS Guaranty Corporation's assets available for other
guaranties made by NTS Guaranty Corporation, including the capital return guaranty for the
benefit of the Fund's stockholders pursuant to that certain Guaranty Agreement dated
as of March 31, 1989, will be reduced by the amount used to repay the Loan.
In
addition, the Borrowers agreed to make a principal prepayment under the Loan in the amount
of $2.4 million on or before December 1, 2008. On September 12, 2008, Orlando Lake Forest
Joint Venture, a joint venture ("OLFJV") in which the Fund owns a 50% interest,
entered into a Purchase and Sale Agreement with an unaffiliated third party. This
Agreement provides for OLFJV to sell its 11-acre parcel of commercial land in Florida.
Upon the closing of this transaction, the Fund will be entitled to receive approximately
$2.69 million in proceeds from the sale. The Fund presently intends to use the proceeds of
the sale to make the required December 1, 2008 principal repayment on the Loan. Although
the Fund believes that OLFJV will be able to complete the sale of the 11-acre commercial
land, there can be no assurance that the sale will occur in a timely fashion or at all.
Item 9.01. Financial
Statements and Exhibits.
(a)
Financial
Statements of Businesses Acquired: N/A
(b)
Pro
Forma Financial Information: N/A
(c)
Shell Company
Transactions: N/A
(d)
Exhibits:
10.1
Sixth Mortgage Loan Modification Agreementt
10.2
Sixth Amended and Restated Promissory Note Construction Mortgage Loan
10.3
Unconditional and Continuing Guaranty
2
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned thereunto duly authorized.
NTS MORTGAGE INCOME FUND
By:
Gregory A. Wells
Its:
Chief Financial Officer
Date:
September 25, 2008
3