Schedule IV - Mortgage Loans On Real Estate

12 Months Ended

Jan. 31, 2012

Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]

MORTGAGE LOANS ON REAL ESTATE

Description	Interest Rate			Maturity Date	Periodic Payment Term	Face Amount of Mortgages		1/31/12 Carrying Amount
Mortgage Note Secured by Albuquerque, NM property		7.75	%	11/1/2021	144 monthly installments	$	1,500,000	$	1,321,015
Mortgage Note Secured by Ontario, CA property		8.28	%	5/11/2011	36 monthly installments, with balloon payment of $5,630,315 due at maturity		9,000,000		*7,405,289
Mortgage Note Secured by Yuma, AZ property		7.0	%	12/30/2013	60 monthly interest only installments, with balloon payment of $4,000,000 at maturity		4,000,000		4,000,000
Mortgage Note Secured by Yuma, AZ property		8.0	%	12/30/2013	43 monthly interest only installments, with balloon payment of $1,000,000 at maturity		1,000,000		1,000,000
Mortgage Note Secured by Tucson St. Mary’s, AZ property	Prime rate			1/28/2015	83 monthly installments, with balloon payment of $,4,874,612 due at maturity		6,050,000		5,409,156
Mortgage Note Secured by Tucson Oracle, AZ property		8.000	%	5/1/2016	180 monthly installments		5,100,000		2,135,796
						$	26,650,000	$	21,271,256

* See Note 5 - “Restructuring Agreement for Ontario Hospitality Properties Subsidiary.”

 Mortgage Note Reconciliation

Balance at January 31, 2010	$	21,906,954
Deductions during period:
Net refinancings	1,000,000
Principal payments	(826,238		)
Balance at January 31, 2011	22,080,716
Deductions during period:
Principal payments	(809,460		)
Balance at January 31, 2012	$	21,271,256