5.	Long-Term Debt – Mortgages:

	Current
	Annual	Final
	Interest	Payment	January 31,			July 31,
	Rate	Date	2021			2020
(1) Bond St. building, Brooklyn, NY	4.375%	12/1/2024	$	4,330,054		$	4,829,832
(2) Fishkill building	3.980%	4/1/2025		3,900,311			3,967,100
Deferred financing costs				(149,911	)		(168,967	)
Net			$	8,080,454		$	8,627,965

(1) In November 2019, the Company refinanced the remaining balance of a $6,000,000, 3.54% interest rate loan with another bank for $5,255,920 plus an additional $144,080 for a total of $5,400,000. The interest rate on the new loan is fixed at 4.375%. The loan is self-liquidating over a period of five years and secured by the Nine Bond Street building in Brooklyn, New York.

(2) In March 2020, the Company obtained a loan with a bank in the amount of $4,000,000 to finance renovations and brokerage commissions relating to space leased to a community college at the Fishkill, New York building. The loan is secured by the Fishkill, New York building; amortized over a 20-year period with an interest rate of 3.98% and is due in five years.