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GAIN ON SETTLEMENT OF DEBT | 12 Months Ended
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Dec. 31, 2012
GAIN ON SETTLEMENT OF DEBT |
GAIN ON SETTLEMENT OF DEBT | NOTE 11—GAIN ON SETTLEMENT OF DEBT In June 2011, with a payment of $7,634,000, the Company paid off the $8,893,000 principal balance of the mortgage secured by a property previously leased to a former tenant which vacated the Company's property in June 2011 in the course of its liquidation after filing for bankruptcy protection in early 2011. The $1,240,000 gain on settlement of debt is net of a $19,000 write off of the remaining balance of related deferred mortgage costs. The property was tested for impairment in June 2011 and it was determined that no charge was required. No additional indicators of impairment have been identified.

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- Definition This element represents the disclosure of the gain recognized as a result of the settlement of a mortgage payable net of deferred mortgage costs. + References No definition available. + Details
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