NOTE 6 – PROMISSORY NOTES RECEIVABLE

Note Receivable – Related Party

In connection with the sale-leaseback arrangement of the DST Property on June 5, 2026 (as described in Note 5 – Leases), the $49,700,000 consideration was funded through a combination of a $29,820,000 cash payment at closing, financed by the proceeds of a bank loan with the DST Buyer and a $19,880,000 promissory note issued by the DST Buyer in favor of the Trust (the “DST Note”). The DST Note is secured by a purchase money deed of trust on the DST Property, bears interest at 4.87% per annum, and requires annual interest-only payments beginning June 1, 2027, with the outstanding principal balance due on June 1, 2046. As of June 30, 2026, the DST Note had an outstanding balance of $19,880,000. During the three and six months ended June 30, 2026, the Trust recognized interest income of $80,680 and $80,680, respectively.

NNN FireSuite Promissory Notes Receivable

In April 2026, the Company initiated an arrangement to sell the exclusive use rights to Luxe FireSuites at the Sunset Amphitheaters in Broken Arrow, Oklahoma and El Paso, Houston, and McKinney, Texas to third parties and concurrently lease them back under a NNN lease structure. Under these agreements, the third-party pays an upfront purchase price or a cash deposit under a financing option over 20 years for a Luxe FireSuite and the Company immediately leases the suite for its own use for 15 years.

Under the financing option, the Company recognizes a promissory note receivable for the amount financed. The promissory note receivable bears interest at 11.0% per annum beginning on the effective date of the Luxe FireSuite NNN lease agreement (the “Effective Date”). Monthly principal and interest payments are due on the first day of each calendar month following the Effective Date and continue until the outstanding principal balance and accrued interest are fully repaid. Payments are applied first to accrued and unpaid interest and thereafter to outstanding principal. The promissory note receivable matures on the twentieth anniversary of the date of the promissory note receivable agreement. As of June 30, 2026, the Company had $7,557,354 of outstanding promissory notes receivable related to these arrangements. During the three and six months ended June 30, 2026, the Company recognized $29,570 and $29,570 of interest income, respectively, related to these promissory note receivables.

NOTE 6 – PROMISSORY NOTES RECEIVABLE (Continued)

The Company has not recorded an allowance for credit losses as the buyer/lessor’s payment obligations under the promissory notes are expected to be settled through reductions in their monthly distributions or, if the buyer/lessor exercises the put option, from the Lessor Repurchase Price payable under the NNN lease agreements, as described in Note 16 – NNN FireSuite Liability.