Note 10 - Notes Receivable

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note

10

– Notes

Receivable

At

December

31,

2016

and

2015,

we have notes receivable from managed and other skilled nursing facilities totaling

$17,079,000

and

$13,164,000,

respectively, reflected in the accompanying consolidated balance sheets. The notes are

first

and

second

mortgages with interest rates ranging from prime plus

2%

to

8%

fixed rate with periodic payments required prior to maturity. The notes mature in the years from

2018

through

2023.

The proceeds of the notes were used by the skilled nursing facilities for construction costs, development costs incurred during construction, and working capital.