| SCHEDULE OF MORTGAGES |
As
of June 30, 2025 and 2024, the Company had the following mortgages:
SCHEDULE OF MORTGAGES
| June
30, 2025 | | |
Interest
Rate | |
Origination
Date | |
Maturity
Date |
| $ | 67,000,000 | | |
SOFR (cap 4.50%) plus 4.75% | |
March 28, 2025 | |
April 9, 2027 |
| | 36,300,000 | | |
Fixed 7.25% | |
March 28, 2025 | |
April 9, 2027 |
| | 103,300,000 | | |
Mortgage notes payable - hotel | |
| |
|
| | (1,781,000 | ) | |
Net debt issuance costs | |
| |
|
| $ | 101,519,000 | | |
Total mortgage notes
payable - Hotel | |
| |
|
| June
30, 2024 | | |
Interest
Rate | |
Origination
Date | |
Maturity
Date |
| $ | 76,962,000 | | |
Fixed 5.28% plus 4% default rate | |
December 18, 2013 | |
January 1, 2025 |
| | 24,500,000 | | |
Fixed 7.25% plus 4% default
rate | |
July 31, 2019 | |
January 1, 2025 |
| | 101,462,000 | | |
Mortgage notes payable - hotel | |
| |
|
| | (679,000 | ) | |
Net debt issuance costs | |
| |
|
| $ | 100,783,000 | | |
Total mortgage notes
payable - Hotel | |
| |
|
|