5.	Long-Term Debt – Mortgages:

			April 30, 2015				July 31, 2014
	Current Annual Interest Rate	Final Payment Date	Due Within One Year		Due After One Year		Due Within One Year		Due After One Year
Fishkill, New York property	6.98%	2/18/15	$	–	$	–	$	68,112	$	1,470,463
Bond St. building, Brooklyn, NY	6.98%	2/18/15		–		–		171,888		3,710,872
Bond St. building, Brooklyn, NY	3.54%	2/01/20		149,422		5,825,014		–		–
Total			$	149,422	$	5,825,014	$	240,000	$	5,181,335

The Company, on August 19, 2004, closed a loan with a bank for a $12,000,000 multiple draw term loan. The loan consisted of: a) a permanent, first mortgage loan to refinance an existing first mortgage loan affecting the Fishkill, New York property, which matured on July 1, 2004 (the “First Permanent Loan”), b) a permanent subordinate mortgage loan in the amount of $1,870,000 (the “Second Permanent Loan”), and c) multiple, successively subordinate loans in the amount $8,295,274 (“Subordinate Building Loans”). The Company, in February 2008, converted the loan totaling $12,000,000 to a seven (7) year permanent mortgage loan. The interest rate on conversion was 6.98%. On January 9, 2015, the Company refinanced the loan for $6,000,000, which included the outstanding balance as of January 2015 in the amount of $5,347,726 and an additional borrowing of $652,274. The loan is for a period of five years with a payment based on a twenty-five year amortization period. The interest rate for this period is fixed at 3.54% per annum. The mortgage loan is secured by the Bond Street building in Brooklyn, New York.