Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt

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Long-Term Debt
6 Months Ended
Jun. 30, 2017
Long-Term Debt [Abstract]  
LONG-TERM DEBT
 4. LONG-TERM DEBT

 

Long-term debt consists of the following:

 

      June 30,
2017
    December 31,
2016
 
  Secured mortgage payable to Bank for the purchase of the 100 Commerce Drive Building due in monthly installments of $11,900.     1,755,908       1,767,950  
  Note payable, former building owner interest payment only due in monthly installments of $1,604 interest at 5.5%. A balloon payment of $350 thousand plus unpaid interest due August 2018.     350,000       350,000  
  Note payable to the City of Loveland paid off in May 2017     -       50,000  
        2,105,908       2,167,950  
  Less current portion     30,493       79,521  
  Long term debt     2,075,415       2,088,429  

 

Aggregate maturities of debt are as follows:

 

2018     363,373  
2019     33,607  
2020     35,858  
2021     38,260  
2022     44,345  
Thereafter    

1,559,972

 
     

2,075,415