91ëƬ

Annual report pursuant to Section 13 and 15(d)

Note 7 - Lease Commitments

v3.6.0.2
Note 7 - Lease Commitments
12 Months Ended
Dec. 31, 2016
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,
2016:
Ìý
Year ending December 31,
Ìý
Amount
Ìý
2017
Ìý $
75,224
Ìý
2018
Ìý Ìý
77,841
Ìý
2019
Ìý Ìý
80,457
Ìý
2020
Ìý Ìý
83,074
Ìý
2021
Ìý Ìý
85,690
Ìý
Thereafter
Ìý Ìý
296,319
Ìý
Ìý Ìý $
698,605
Ìý
Ìý
Rent expense for this lease agreement amounted to
$82,420,
$79,415
and
$70,400
for the years ended
December
31,
2016,
2015
and
2014,
respectively.