91ëƬ

Annual report pursuant to Section 13 and 15(d)

Note 7 - Lease Commitments

v3.3.1.900
Note 7 - Lease Commitments
12 Months Ended
Dec. 31, 2015
Notes to Financial Statements Ìý
Commitments and Contingencies Disclosure [Text Block]
(7)
Lease Commitments
Ìý
The Trust is a lessee under an operating lease in connection with its administrative offices located in Dallas, Texas. This lease agreement requires monthly rent payments and expires in March 2025. Future minimum lease payments were as follows at December 31, 2015:
Ìý
Year ending December 31,
Ìý
Amount
Ìý
2016
Ìý $ 72,608 Ìý
2017
Ìý Ìý 75,224 Ìý
2018
Ìý Ìý 77,841 Ìý
2019
Ìý Ìý 80,457 Ìý
2020
Ìý Ìý 83,074 Ìý
Thereafter
Ìý Ìý 382,009 Ìý
Ìý Ìý $ 771,213 Ìý
Ìý
Rent expense amounted to $79,415, $70,400 and $70,400 for the years ended December 31, 2015, 2014 and 2013, respectively.