Note 5 – Prepaid and Other Assets

Prepaid and other assets are summarized as follows (dollars in thousands):


	December 31,
	2011		2010
Prepaid and other current assets
Prepaid expenses	$	1,168	$	1,145
Prepaid taxes		781		1,044
Deposits		605		151
Other		1,227		1,196
Total prepaid and other current assets	$	3,781	$	3,536

Other non-current assets
Other non-cinema and non-rental real estate assets	$	1,134	$	1,134
Long-term deposits		264		294
Deferred financing costs, net		3,725		3,830
Interest rate swaps at fair value		-		446
Other receivable		-		6,750
Tenant inducement asset		1,064		1,327
Straight-line rent asset		2,776		2,627
Mortgage notes receivable		851		-
Other		-		128
Total non-current assets	$	9,814	$	16,536

Investment in Notes Receivable

Other Receivable

On June 14, 2011, we received $6.8 million with respect to the principal and interest owed on a note previously received in connection with a settlement agreement. We believe that further amounts are owed under that note, and we have begun litigation to collect such amounts.

Mortgage Notes Receivable

On February 14, 2011, we purchased for $2.8 million mortgage notes secured by certain properties. These mortgage notes were in default on the date of acquisition and were acquired with the intention of acquiring the underlying properties. In February 2011 and in September 2011, we foreclosed on two of these properties valued at $859,000 and $1.1 million, respectively, which are now classified as a part of properties held for development. We are currently pursuing our remedies for the remaining mortgage note, which, at December 31, 2011, remained in default. We anticipate that we will ultimately acquire the remaining property.