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7) Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)
12 Months Ended
Dec. 31, 2017
Tables/Schedules  
Summary of Bank Loans Payable

 

 December 31

 

2017

2016

1.65% above the monthly LIBOR rate note payable in monthly installments of $13,741 including principal and interest, collateralized by  real property with a book value of approximately $498,000, paid in full in November 2017.  

 $               -  

 $       147,346

Mark to market of interest rate swaps (discussed below) adjustment, terminated in November 2017

                    -

             3,308

6.50% note payable in monthly installments of $1,702 including principal and interest, collateralized by real property with a book value of approximately $271,000, due October 2041.  

          246,847

         251,072

2.25% above the monthly LIBOR rate (1.56% at December 31, 2017) plus 1/16th of the monthly LIBOR rate note payable in monthly principal payments of $13,167 plus interest, collateralized by real property with a book value of approximately $4,457,000, due September 2021.

        2,975,781

       3,133,787

3.85% fixed note payable in monthly installments of $85,419 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due January 2018.

            85,419

       1,093,349

4.27% fixed note payable in monthly installments of $53,881 including  principal and interest, collateralized by shares of Security National Life Insurance Company stock, due November 2021.

        2,372,690

       2,904,354

4.40% fixed note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $11,837,000, due January 2026.

        7,712,854

       7,927,526

4.329% fixed note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,004,000, due September 2025.

        1,961,573

       1,992,056

2.5% above the monthly LIBOR rate (1.56% at December 31, 2017) plus 1/16th of the monthly LIBOR rate construction loan payable, collateralized by real property with a book value of approximately $45,406,000, due August 2019.

      28,343,684

       8,777,941

2.25% above 90 day LIBOR rate (1.69% at December 31, 2017) note payable in monthly installments of  approximately $125,000, collateralized by real property with a book value of approximately $34,431,000, due October 2019.

      26,773,058

     27,377,114

1 month LIBOR rate (1.56% at December 31, 2017) plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures June 2018

      61,298,220

     76,843,180

1 month LIBOR rate (1.56% at December 31, 2017) plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures September 2018

      25,538,378

     21,578,951

Other loans payable

          142,421

         110,695

Total bank and other loans

    157,450,925

   152,140,679

Less current installments

      88,437,940

   101,177,574

Bank and other loans, excluding current installments

$   69,012,985

$  50,963,105