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Note Payable (Tables) | 9 Months Ended
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Sep. 30, 2020
Notes Payable [Abstract] |
Carrying Value of Note Payable | The carrying value of the Company’s note payable is summarized as follows:
Note Payable |  | September 30, 2020 |  |  | December 31, 2019 |
Principal balance outstanding |  | $ | 18,972,178 |  |  | $ | 19,338,556 |
Less: Loan procurement costs, net |  |  | (468,318 | ) |  |  | (498,769 | )
Total note payable, net |  | $ | 18,503,860 |  |  | $ | 18,839,787 |
Future Principal Payment Requirements | The following table represents the future principal payment requirements on the note payable as of September 30, 2020:
2020 (3 months) |  | $ | 166,562 |
2021 |  |  | 513,857 |
2022 |  |  | 535,816 |
2023 |  |  | 558,714 |
2024 |  |  | 582,591 |
2025 and thereafter |  |  | 16,614,638 |
Total principal payments |  | $ | 18,972,178 |

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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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