NOTE PAYABLE

3 Months Ended

Dec. 31, 2011

Note Payable

Note Payable [Text Block]

NOTE 4 - NOTE PAYABLE

The Company secured permanent financing on the purchase of storage lot land in Arroyo Grande with Mission Community Bank. The loan was refinanced on April 6, 2006 and consolidated with a note for the purchase of another storage lot in Oceano, California. The total loan currently outstanding is $1,409,082 and was financed over a period of ten years at a variable interest rate currently at 5.00%. The lot in Oceano was formerly leased for $4,800 per month and was purchased for $925,000. The payments are currently $12,760 per month interest and principal. The Company also secured permanent financing on the purchase of another storage lot in Arroyo Grande, California with Mission Community Bank. The loan originated on May 8, 2008. The total loan currently outstanding is $2,831,786 and financed over a period of ten years at a variable interest rate currently at 5.0%. The payments are currently $15,416 per month interest and principal. The Company secured a vehicle lease with Donahue Transportation Services Corp on a 2008 Tow Truck. The loan originated on December 9, 2009. The total loan currently outstanding is $41,308 and financed over a period of seven years at an interest rate of 8.39%. The payments are currently $799 per month interest and principal.

Principal payments of the notes payable are as follows:

Year Ending December 31,
2012	$	134,633
2013		142,360
2014		149,903
2015		157,853
2016		1,107,357
Thereafter		2,590,070
	$	4,282,176