MORTGAGE NOTES RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2012

The outstanding principal amounts of mortgage notes receivable, net of allowances, were as follows:

	December 31,
	2012		2011
	(in thousands)

Two Construction Mortgage notes; interest at 12.50%	$	11,751	$	2,234
Mortgage note due 2013; interest at 11.00%		5,000		5,000
Mortgage note due 2016; interest at 11.50%		-		11,545
Mortgage note due 2021; interest at 12.50%		5,574		5,574
Mortgage note due 2021; monthly payment of $34,500, including interest at 11.00%		91,585		92,000
Mortgage note due 2022; interest at 12.50%		5,310		4,990
Mortgage notes due 2022; interest at 12.00%		7,076		6,504
Mortgage note due 2023; interest at 11.00%		69,928		69,928
Mortgage note due 2030; interest at 10.40%		15,897		15,900
Four Mortgage notes due 2046; interest at 12.00%		26,500		25,000
Total mortgages — net (1)	$	238,621	$	238,675

(1)

As of December 31, 2011 and 2012 we have no allowance for loan loss for any of our mortgages.