XML 88 R27.htm IDEA: XBRL DOCUMENT v2.4.1.9
SCHEDULE IV
12 Months Ended
Dec. 31, 2014
Mortgage Loans on Real Estate [Abstract]  
Schedule IV
SCHEDULE IV
MORTGAGE LOANS ON REAL ESTATE
December 31, 2014
(dollars in thousands)

Description
 
Contractual Interest Rate
 
Maturity Date
 
Periodic Payment Terms
 
Prior Liens
 
Principal Balance
 
Book Value
 
Principal Amount of Loans Subject to Delinquent Principal or Interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgages:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weston
 
9.0
%
 
2016
 
(1) 
 
$

 
$
16,079

 
$
16,136

 
N/A
Sun City West
 
9.0

 
2018
 
(2) 
 

 
13,394

 
13,440

 
N/A
Forest Park - Dallas
 
8.0

 
2016
 
(2) 
 

 
110,000

 
110,223

 
N/A
Celebration Loan
 
10.0

 
2015
 
(3) 
 

 
4,560

 
4,584

 
N/A
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
144,033

 
144,383

 
 
Construction Mortgages:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forest Park - Fort Worth
 
7.3

 
2016
 
(1) (4) 
 

 
59,044

 
59,232

 
N/A
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other Construction Mortgages
 
10.0

 
2018
 
Various
 

 
6,198

 
6,293

 
N/A
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$

 
$
209,275

 
$
209,908

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1) Interest for the first 12 months and principal is deferred and due at the maturity date. Interest after the first 12 months is due monthly.
(2) Interest is due monthly and principal is due at the maturity date.
(3) Interest and principal is due at the maturity date.
(4) The loan has a prepayment fee of 0.5% of the outstanding balance if prepaid before October 1, 2015.


Changes in mortgage loans for the years ended December 31, 2014, 2013 and 2012 are summarized as follows:

 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
Balance at the beginning of the period
 
$
162,870

 
$
11,000

 
$

Additions during period:
 
 
 
 
 
 
Draws
 
51,217

 

 

New mortgage loans
 
4,500

 
151,173

 
11,000

Interest income added to principal
 
1,781

 
697

 

 
 
 
 
 
 
 
Deductions during period:
 
 
 
 
 
 
Paydowns
 
(11,093
)
 

 

 
 
 
 
 
 
 
Balance at the end of the year
 
$
209,275

 
$
162,870

 
$
11,000