[1]

In February 2013, the Company sold its interest in a hotel, resort and marina property known as Grove Isle and received a $1 million promissory note from the purchaser as part of the purchase proceeds. This note bears interest of 4% per annum and will mature upon the earlier of ten years (February 25, 2023) or when any expansion or development occurs at Grove Isle (as defined in the purchase agreement). All interest due on this loan has been collected.

[2]

In December 2007, the Company loaned $400,000 to a local real estate developer who is well known to the Company and which loan is secured by numerous real estate interests. In 2010, $197,000 of principal payments were received. As of December 31, 2016 and 2015 the principal outstanding on this loan was $78,000 and $203,000, respectively. In June 2016, the loan was modified and the maturity date was extended to March 31, 2017 at the same interest rate of 8% with monthly principal payments due of $25,000. All interest and principal due on the loan has been collected.

[3]

In May 2016 the Company loaned $500,000 to an entity owned by the same local real estate developer mentioned above for the purposes of purchasing apartment units located in Jacksonville, Florida. Nine of the purchased apartment units were provided as collateral on the loan. The promissory note bears interest at 9.5% per annum payable on a quarterly basis beginning July 1, 2016. The loan matures on April 28, 2021, at which time all unpaid principal and interest is due. All interest due on the loan has been received.