RELATED PARTY RECEIVABLES	9 Months Ended
Sep. 30, 2020
RELATED PARTY RECEIVABLES
RELATED PARTY RECEIVABLES	10. RELATED PARTY RECEIVABLES On December 20, 2018, the Company entered into a loan agreement with Doran Family Holdings, which is the controlling partner in the Doran Canterbury I joint venture. The Company loaned Doran Family Holdings $2,910,000 net of loan origination fees, and received a promissory note totaling $2,940,000 bearing interest at 5%. On August 3, 2020, the Company received payment for this promissory note of $2,940,000. In 2018, the Company incurred $268,000 of costs for preliminary grading work on parcels of land the Company had designated for Doran Canterbury II. The Company was to be fully reimbursed for these costs upon the commencement of the Doran Canterbury II project and thus, recorded the amount as a receivable. On August 3, 2020, the Company received payment for this receivable of $268,000. In 2019 and 2020, the Company loaned money to the Doran Canterbury I joint venture in five separate loans in the amounts of $178,100, $137,000, $232,900, $171,250, and $191,800. These member loans bear interest at the rate equal to the Prime Rate plus two percent per annum. The Company expects to be fully reimbursed for these member loans when the joint venture achieves positive cash flow. In 2020, the Company recorded a related party receivable of $143,000 for landscaping and irrigation costs incurred by the Company on parcels of land the Company had designated for Doran Canterbury II. The Company expects to be fully reimbursed for these costs by Doran Canterbury II in the 2020 fourth quarter. In 2020, the Company recorded a related party receivable of $408,000 for various development related costs incurred by the Company on parcels of land the Company had designed for Canterbury DBSV. The Company expects to be fully reimbursed for these costs by Canterbury DBSV in the 2020 fourth quarter.

10. RELATED PARTY RECEIVABLES

On December 20, 2018, the Company entered into a loan agreement with Doran Family Holdings, which is the controlling partner in the Doran Canterbury I joint venture. The Company loaned Doran Family Holdings $2,910,000 net of loan origination fees, and received a promissory note totaling $2,940,000 bearing interest at 5%. On August 3, 2020, the Company received payment for this promissory note of $2,940,000.

In 2018, the Company incurred $268,000 of costs for preliminary grading work on parcels of land the Company had designated for Doran Canterbury II. The Company was to be fully reimbursed for these costs upon the commencement of the Doran Canterbury II project and thus, recorded the amount as a receivable. On August 3, 2020, the Company received payment for this receivable of $268,000.

In 2019 and 2020, the Company loaned money to the Doran Canterbury I joint venture in five separate loans in the amounts of $178,100, $137,000, $232,900, $171,250, and $191,800. These member loans bear interest at the rate equal to the Prime Rate plus two percent per annum. The Company expects to be fully reimbursed for these member loans when the joint venture achieves positive cash flow.

In 2020, the Company recorded a related party receivable of $143,000 for landscaping and irrigation costs incurred by the Company on parcels of land the Company had designated for Doran Canterbury II. The Company expects to be fully reimbursed for these costs by Doran Canterbury II in the 2020 fourth quarter.

In 2020, the Company recorded a related party receivable of $408,000 for various development related costs incurred by the Company on parcels of land the Company had designed for Canterbury DBSV. The Company expects to be fully reimbursed for these costs by Canterbury DBSV in the 2020 fourth quarter.