16. Mortgages Payable and Other Secured Financing

The following represents the Mortgages payable and other secured financing, net of deferred financing costs, at June 30, 2017 and December 31, 2016:

MF Property Mortgage Payables	Outstanding Mortgage Payable at June 30, 2017, net		Year Acquired	Stated Maturity	Variable / Fixed	Reset Frequency	Variable Based Rate				Facility Fees			Period End Rate
Eagle Village	$	7,750,076	2010	September 2018	Variable	Monthly		1.06	%	⁽¹⁾		3.00	%		4.06	%
Residences of DeCordova		1,715,750	2012	June 2019	Fixed	N/A	N/A				N/A				4.75	%
Residences of Weatherford		5,487,912	2011	June 2019	Fixed	N/A	N/A				N/A				4.75	%
The 50/50 MF Property--TIF Loan		3,463,331	2014	December 2019	Fixed	N/A	N/A				N/A				4.65	%
The 50/50 MF Property--Mortgage		24,896,611	2013	March 2020	Variable	Monthly		4.00	%	⁽²⁾	N/A				4.00	%
Jade Park		7,464,772	2016	October 2021	Fixed	N/A	N/A				N/A				3.85	%
Total Mortgage Payable\Weighted Average Period End Rate	$	50,778,452													4.14	%

⁽¹⁾	Variable rate is based on 30-day LIBOR

⁽²⁾	Variable rate is based on Wall Street Journal Prime Rate

MF Property Mortgage Payables	Outstanding Mortgage Payable at December 31, 2016, net		Year Acquired	Stated Maturity	Variable / Fixed	Reset Frequency	Variable Based Rate				Facility Fees			Period End Rate
Residences of DeCordova	$	1,744,858	2012	June 2017	Fixed	N/A	N/A				N/A				4.75	%
Residences of Weatherford		5,589,086	2011	June 2017	Fixed	N/A	N/A				N/A				4.75	%
Eagle Village		7,845,711	2010	September 2018	Variable	Monthly		0.63	%	⁽¹⁾		3.00	%		3.63	%
The 50/50 MF Property--TIF Loan		3,656,090	2014	December 2019	Fixed	N/A	N/A				N/A				4.65	%
The 50/50 MF Property--Mortgage		25,082,636	2013	March 2020	Variable	Monthly		3.50	%	⁽²⁾	N/A				3.50	%
Jade Park		7,461,131	2016	October 2021	Fixed	N/A	N/A				N/A				3.85	%
Total Mortgage Payable\Weighted Average Period End Rate	$	51,379,512													3.83	%

⁽¹⁾	Variable rate is based on 30-day LIBOR

⁽²⁾	Variable rate is based on Wall Street Journal Prime Rate

Activity in the First Six Months of 2017

In June 2017, the Partnership refinanced the mortgages payable for the Residences and DeCordova and Residences at Weatherford. The interest rates did not change, no commitments fees were paid, the maturity dates for the mortgages payable were extended for additional two-year terms and the mortgages payable can be prepaid prior to maturity with no penalty.

Activity in the First Six Months of 2016

In June 2016, the Arboretum mortgage payable was paid off in full in conjunction with the sale of the MF property. No prepayment penalties were paid upon settlement of the mortgage payable.

Future Maturities

The following represents the Mortgages payable and other secured financing contractual maturities for the next five years and thereafter:

2017	$	630,547
2018		8,809,356
2019		10,768,942
2020		23,993,819
2021		6,858,993
Thereafter		-
Total mortgages payable and other secured financings	$	51,061,657