UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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 even reported): ~~September~~May 1419, ~~2007~~ 2008

Maxus Realty Trust, Inc.

(Exact name of registrant as specified on its charter)

MISSOURI	000-~~13754~~13457	48-1339136
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

104 Armour Road

North Kansas City, Missouri 64116

(Address of principal executive offices) (Zip Code)

(816) 303-4500

(Registrant’s telephone number, including area code)

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 (see General Instruction A.2. below):

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to rule 13e-4(c) under the Exchange Act (17 CFR 240.14e-r(c))

Item 28.0301 ~~Creation~~Other ~~of a Direct Financial Obligation~~Events.

~~Effective as~~On ofMay ~~September 14~~19, ~~2007~~2008, ~~Chalet I Acquisition, L.L.C. (“Chalet I”), a wholly-owned subsidiary of~~ Maxus ~~Operating~~Realty ~~Limited Partnership~~Trust, ~~our operating~~ ~~limited partnership (“MOLP”), and NorthMarq Capital~~ Inc. ~~(“NorthMarq”)~~ ~~entered into a MultiFamily Note~~ (the “~~Note~~Trust”) inagreed ~~the~~to ~~principal amount~~a ofsettlement ~~$8,070,000~~ and arelease ~~Multifamily~~Agreement ~~Mortgage,~~in ~~Assignment~~principle with ofRSUI ~~Rents~~Indemnity ~~and Security~~Company ~~Agreement~~ (~~the~~ “~~Mortgage~~RSUI”), ~~whereby~~pursuant ~~Chalet~~to I,which ~~as Borrower, refinanced~~ the ~~Chalet~~Trust Iagreed ~~and~~to dismiss IIwith ~~Apartments~~prejudice ~~located~~the inlawsuit ~~Topeka,~~it ~~Kansas,~~filed ~~which~~against ~~was~~RSUI ~~acquired by Chalet I~~ on September 277, ~~2001~~2006 (in the ~~“Property”). Chalet~~United IStates isDistrict ~~the surviving~~Court ~~entity~~for ofthe aWestern ~~recent~~District ~~merger~~ of ~~two~~Missouri of(Case ~~MOLP’s wholly~~No. 06-~~owned subsidiaries~~0750-CV-W-ODS), ~~Chalet~~ Iin ~~Acquisition,~~exchange ~~L.L.C.~~for ~~and~~a ~~Chalet~~cash IIpayment ~~Acquisition,~~from ~~L.L.C. The Note~~RSUI isof ~~incorporated by reference herein as Exhibit~~ $4.~~1 to this current report~~25 ~~on Form 8-K~~million. ~~The Mortgage is incorporated by reference herein as Exhibit 4.2 to this current report on Form 8-K.~~

The ~~Note bears~~lawsuit ~~interest~~alleged atbreach aof ~~fixed~~contract ~~rate~~and ofvexatious ~~5.79%~~refusal ~~through~~by ~~October~~RSUI 1,for ~~2017~~its ~~(the “Maturity~~failure ~~Date”). We~~to ~~may~~fulfill ~~extend~~its ~~the~~indemnity ~~Maturity~~obligations ~~Date~~under of the ~~Note~~commercial anproperty ~~additional~~insurance ~~twelve~~policy ~~(12)~~issued ~~months,~~to inthe ~~which~~Trust ~~case~~by ~~the~~RSUI ~~Note~~covering ~~would~~Waverly ~~bear~~Apartments, ~~interest~~located atin ~~a variable~~Bay ~~annual~~St. ~~interest~~Louis, ~~rate~~Mississippi, ~~calculated~~which ~~for~~was ~~each~~damaged ~~calendar~~by ~~month~~Hurricane ~~during~~Katrina. The Trust ~~the~~had ~~extension period~~requested ~~equal~~relief tofrom the ~~rate~~court onfor ~~unsecured~~(i) ~~obligations~~compensatory ofdamages ~~the~~in ~~Federal~~an amount ~~Home~~to ~~Loan Mortgage~~be ~~Corporation~~determined ~~designated~~at astrial, ~~“Refinance~~including ~~Bills®~~interest ~~Securities”~~ and ~~having~~ ~~original~~special ~~durations~~damages, to(ii) pre-judgment ~~maturity~~and ~~most~~post-judgment ~~comparable~~interest toon ~~one-month~~such compensatory damages and ~~issued~~(iii) ~~at regularly~~all ~~scheduled~~of ~~auctions,~~our ~~plus~~costs ~~250~~in ~~basis~~bringing ~~points~~the action including attorneys’ fees.

~~Beginning on~~The ~~the First Installment Due Date, November 1, 2007, principal and accrued~~Trust ~~interest~~had ~~under~~previously ~~the~~received ~~Note~~a ~~are~~check ~~due~~ in ~~consecutive monthly installments and payable on~~ the ~~first~~amount ~~day~~ of ~~each~~$344,557 ~~calendar~~from ~~month. Beginning~~RSUI ~~November~~on 1October 25, ~~2007 through~~2006. The ~~the~~lawsuit ~~Maturity~~was ~~Date,~~set ~~monthly~~for ~~principal~~trial ~~and~~on ~~interest~~May ~~payments of $47~~19,~~299.59~~ ~~are due~~2008.

The Note is subject to a prepayment premium prior to the Maturity Date in an amount equal to the greater of (i) 1% of principal being prepaid; or (ii) the principal being prepaid or accelerated, multiplied by the excess (if any) of one-twelfth of 5.79% over one-twelfth of the then-applicable yield rate on the 9.25% U.S. treasury security due May 15, 2018, multiplied by a Present Value Factor more particularly described in the Note.

NorthMarq may accelerate payment on the Note if Chalet I defaults under the terms of the Loan Documents, as defined in the Mortgage, which defaults are customary defaults in real estate mortgage loan transactions.

The Property serves as collateral under the Mortgage to secure the amount due under the Note. The Mortgage also provides NorthMarq a security interest in the Property and assigns and transfers all rents and leases on the Property to NorthMarq, collectable upon an Event of Default.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

4.1 Multifamily Note dated as of September 14, 2007 executed by Chalet I Acquisition, L.L.C. in favor of NorthMarq Capital, Inc.

4.2 Multifamily Mortgage, Assignment of Rents and Security Agreement dated as of September 14, 2007 executed by Chalet I Acquisition, L.L.C. in favor of NorthMarq Capital, Inc.

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 hereunto duly authorized.

	~~MAXUS REALTY TRUST, INC.~~	MAXUS REALTY TRUST, INC.
Date: September 20, 2007	By:	/s/ David L. Johnson
Date: May 19, 2008	By:	/s/ David L. Johnson
		David L. Johnson
		David L. Johnson Chairman of the Board, President and Chief Executive Officer
		Chairman of the Board, President and
		Chief Executive Officer

Filing Compare · MAXUS REALTY TRUST INC.