The Company's mortgages consist of the following:


	Origination	Maturity
(in thousands, except interest rates)	Date	Date	Interest	September 30,			December 31,
Lender	(Month/Year)	(Month/Year)	Rate	2022			2021
Wilmington Trust National Association	Apr-19	Feb-28	4.92%	$	45,834		$	46,760		(a) (b) (c) (d)
Wilmington Trust National Association	Jun-18	Aug-25	4.36%		19,254			19,557		(a) (b) (c) (e)
PNC Bank	Oct-16	Nov-26	3.62%		16,782			17,094		(b) (c)
T2 Durham I, LLC	Jul-21	Jul-24	Greater of Prime + 1.25% or 5.00%		7,500			7,500		(b) (f) (h)
Aegon	Apr-12	Oct-23	6.38%		5,626			6,249		(b) (g)
Total mortgages					94,996			97,160
Debt issuance costs, net					(243	)		(314	)
Mortgages, net				$	94,753		$	96,846

(a)

Non-recourse debt includes the indemnification/guaranty of the Corporation and/or OP pertaining to fraud, environmental claims, insolvency, and other matters.

(b)

Debt secured by related rental property and lease rents.

(c)

Debt secured by guaranty of the OP.

(d)

Mortgage was assumed in April 2019 as part of the acquisition of the related property. The debt was recorded at fair value at the time of assumption.

(e)

Mortgage was assumed in June 2018 as part of the acquisition of the related property. The debt was recorded at fair value at the time of assumption.

(f)

Mortgage is subject to interest at a daily floating annual rate equal to the Prime Rate plus 1.25%, but no less than 5.00% per annum. At September 30, 2022 and December 31, 2021, the interest rate was 7.50% and 5.00%, respectively.

At September 30, 2022, investment in rental property of $158.5 million was pledged as collateral against the Company's mortgages.

Estimated future principal payments to be made under the above mortgages and the Company's unsecured credit agreements (see Note 9) at September 30, 2022 are as follows:


(in thousands)
Remainder of 2022	$	743
2023		7,582
2024		9,760
2025		20,195
2026		636,380
Thereafter		1,389,873
	$	2,064,533

Certain of the Company's mortgages provide for prepayment fees and can be terminated under certain events of default as defined under the related agreements. These prepayment fees are not reflected as part of the table above.