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COMMITMENT AND CONTINGENCIES
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENT AND CONTINGENCIES COMMITMENT AND CONTINGENCIES
The Company maintains a non-contributory defined contribution pension plan covering eligible employees and officers. Contributions by the Company are made through a money purchase plan, based upon a percent of qualified employees' total salary as defined therein. Pension expense approximated $373,000 and $366,000 during the years ended December 31, 2019 and 2018, respectively. At December 31, 2019 and 2018, $74,000 and $116,000, respectively, remains unpaid and is included in accounts payable and accrued liabilities on the consolidated balance sheets.
At December 31, 2019, the Company is the carve-out guarantor with respect to mortgage debt in principal amount of $123,407,000 at seven multi-family properties.