| Description of Amortized Expenses | Date Acquired, Completed, or Expended | Amount Amortized | Deduction for Prior Years | Amortization Method | Current Year Amortization | Net Investment Income | Adjusted Net Income | Total Amount of Amortization |
|---|---|---|---|---|---|---|---|---|
| CLOSING COST | 2020-01-01 | 28,088 | 5,618 | 5.0000 | 5,618 | 11,236 |
| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|---|---|---|---|---|---|---|---|---|
| BUILDING | 2005-10-01 | 1,795,965 | 683,760 | SL | 40.0000 | 44,899 | 44,899 | 44,899 | |
| IMPROVEMENTS | 2006-10-01 | 55,984 | 20,941 | SL | 40.0000 | 1,400 | 1,400 | 1,400 | |
| IMPROVEMENTS | 2007-06-01 | 17,505 | 5,909 | SL | 40.0000 | 438 | 438 | 438 | |
| BUILDING - 10106 PATRICK | 2018-01-12 | 404,688 | 44,148 | SL | 27.5000 | 14,716 | 14,716 |
| Category/ Item | Cost/Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Land | 955,817 | 955,817 | 925,000 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| Machinery and Equipment | 3,805 | 3,805 | ||
| Buildings | 2,200,653 | 787,523 | 1,413,130 | 3,625,000 |
| Improvements | 73,489 | 28,688 | 44,801 | |
| Land | 396,494 | 396,494 |
| Item No. | 1 |
|---|---|
| Lender's Name | CHATTAR SINGH SAINI |
| Lender's Title | TRUSTEE |
| Original Amount of Loan | 3500 |
| Balance Due | 3500 |
| Date of Note | 2015-06 |
| Maturity Date | |
| Repayment Terms | |
| Interest Rate | |
| Security Provided by Borrower | |
| Purpose of Loan | |
| Description of Lender Consideration | |
| Consideration FMV |
| Item No. | 2 |
|---|---|
| Lender's Name | CHATTAR SINGH SAINI |
| Lender's Title | TRUSTEE |
| Original Amount of Loan | 80000 |
| Balance Due | 80000 |
| Date of Note | 2018-12 |
| Maturity Date | 2024-01 |
| Repayment Terms | |
| Interest Rate | 5.0000 |
| Security Provided by Borrower | |
| Purpose of Loan | CONSTRUCTION IN PROGRESS |
| Description of Lender Consideration | |
| Consideration FMV |
| Item No. | 1 |
|---|---|
| Lender's Name | UNITED BANK |
| Lender's Title | |
| Relationship to Insider | |
| Original Amount of Loan | |
| Balance Due | 438,655 |
| Date of Note | |
| Maturity Date | |
| Repayment Terms | |
| Interest Rate | |
| Security Provided by Borrower | |
| Purpose of Loan | |
| Description of Lender Consideration | |
| Consideration FMV |
| Item No. | 2 |
|---|---|
| Lender's Name | ESSEX BANK |
| Lender's Title | |
| Relationship to Insider | |
| Original Amount of Loan | |
| Balance Due | 472,927 |
| Date of Note | |
| Maturity Date | |
| Repayment Terms | |
| Interest Rate | |
| Security Provided by Borrower | |
| Purpose of Loan | |
| Description of Lender Consideration | |
| Consideration FMV |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| Net Intangible Assets | 22,470 | 16,852 | |
| WORK IN PROGRESS | 680,384 | 704,307 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Amortization | 5,618 | 5,618 | 5,618 | |
| Rental Expenses | 66,881 | 66,881 | 66,881 | |
| RENTAL EXPENSES | -54,796 | -54,796 | 54,796 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| SECURITY DEPOSIT | 4,000 |