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INCOME FROM LEASES
12 Months Ended
Sep. 30, 2011
Leases [Abstract]  
INCOME FROM LEASES

NOTE 11 - INCOME FROM LEASES

 

The Company derives income primarily from operating leases on its commercial properties. In general, these leases are written for periods up to ten years with various provisions for renewal. These leases generally contain clauses for reimbursement (or direct payment) of real estate taxes, maintenance, insurance and certain other operating expenses of the properties. Minimum base rents due under noncancellable leases as of September 30, 2011 are approximately scheduled as follows:

 

Fiscal Year Amount
2012 $39,331,000
2013 34,616,000
2014 31,294,000
2015 29,288,000
2016 26,504,000
thereafter 56,323,000
Total $217,356,000