LONG-TERM DEBT |
Long-term debt consists of the following:
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June 30, 2017 |
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December 31, 2016 |
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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 |
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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. |
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350,000 |
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350,000 |
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Note payable to the City of Loveland paid off in May 2017 |
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- |
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50,000 |
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|
|
|
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2,105,908 |
|
|
|
2,167,950 |
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Less current portion |
|
|
30,493 |
|
|
|
79,521 |
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|
Long term debt |
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|
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 |
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|
44,345 |
|
Thereafter |
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1,559,972
|
|
|
|
|
2,075,415
|
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|