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Note 6: Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)
12 Months Ended
Dec. 31, 2014
Tables/Schedules  
Summary of Bank Loans Payable

 

 December 31

 

2014

2013

6.34% note payable in monthly installments of $13,556 including principal and interest, collateralized by real property with a book value of approximately $498,000, due November 2017.

 $      466,937

 $      612,068

5.75% note payable in monthly installments of $28,271 including principal and interest, collateralized by real property with a book value of approximately $5,890,000 due March 2015.

      3,398,099

      3,509,944

Mark to market of interest rate swaps (discussed below) adjustment

          31,370

          58,310

3.85% note payable in monthly installments of $79,468 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due June 2015.

        461,889

      1,377,925

3.85% note payable in monthly installments of $86,059 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2017.

      2,994,999

      3,891,926

4.40% note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,450,000 due January 2026.

      8,333,550

      8,500,000

2.75% above the 90-day LIBOR rate (3.0052% at December 31, 2014) construction and term loan payable, collateralized by real property with a book value of approximately $22,855,000 due July 2017.

    13,085,189

                  -

Other collateralized bank loans payable

        247,384

        338,304

Other notes payable

              961

              961

Total bank and other loans

    29,020,378

    18,289,438

Less current installments

      5,248,043

      5,849,926

Bank and other loans, excluding current installments

 $ 23,772,335

 $ 12,439,512