Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies

12. Commitments and Contingencies

The Company is committed to fund up to $24,000 of project costs related to the Tulsa, Oklahoma development project described at Note 3 above. As of December 31, 2011, the Company had funded $8,160 of such commitment.

The Company is involved from time to time in litigation arising in the ordinary course of business. The Company is not currently involved in any matter which management believes will have a material adverse effect on the Company’s business, results of operations or financial condition. However, periodic settlements and/or professional or other fees and expenses related to any matter could have an adverse impact on our results of operations in the quarterly or annual period in which they are recognized.

As an owner of commercial real estate, the Company is subject to potential environmental costs. At December 31, 2011, the Company was not aware of any environmental concerns that would have a material adverse effect on the Company’s business, results of operations or financial condition.

As of December 31, 2011, the Company was obligated under non-cancelable operating lease agreements for office space and copy machines. The future minimum lease payments under these lease agreements at December 31, 2011 were:

2012	$	766
2013		578
2014		13
2015		7
	$	1,364

Included in general and administrative expense is rent expense of approximately $568, $546, and $657 for the years ended December 31, 2011, December 31, 2010 and December 31, 2009, respectively.