MORTGAGE NOTE PAYABLE

The following is a summary of the Company's mortgage note payable as of September 30, 2014:



	Balance Outstanding at		Maturity Date	Initial Annual Interest Rate		Average Monthly Debt Service		Interest Expense
Collateral	September 30, 2014		Maturity Date	Initial Annual Interest Rate		Average Monthly Debt Service		Three Months Ended September 30, 2014		Nine Months Ended September 30, 2014
Bear Creek	$	7,465,000	7/1/2024	2.521	%	$	15,900	$	48,094	$	62,638

On June 4, 2014, in connection with the acquisition of Bear Creek, the Company entered into a $7.5 million, secured mortgage loan with Berkadia Commercial Mortgage, LLC (the "Mortgage Loan"), secured by the property. The Mortgage Loan, which matures on July 1, 2024, bears interest at a floating rate of one-month London InterBank Offered Rate ("LIBOR") plus 2.37%. As of September 30, 2014, the interest rate was 2.52%. Monthly payments are initially interest only. Beginning with the August 2018 payment, monthly payments will include interest and principal in the amount of approximately $23,432 per month.

Annual principal payments on the mortgage note payable for each of the next five years ending September 30, and thereafter, are as follows:



2015	$	—
2016	—
2017	—
2018	21,679
2019	86,718
Thereafter	7,356,603
	$	7,465,000