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DEBT | 12 Months Ended
--- | ---
Sep. 28, 2013
Debt |
DEBT | NOTE 9. DEBT Long-Term Debt
|  | 2013 |  |  | 2012 |
Mortgage payable to lender, secured by a first mortgage on real property and improvements, bearing interest at BBA LIBOR – 1 Month +2.25%, (2.43% at September 28, 2013), but with $3,750,000 of the principal amount fixed at 4.51% pursuant to a swap agreement, amortized over 20 years, payable in monthly installments of principal and interest of approximately $23,700, and our current monthly payment of principal and interest as to that portion of the principal amount not fixed by the interest rate swap agreement, ($750,000), is payable at BBA LIBOR – 1 Month + 2.25% interest rate, (2.43% as of September 28, 2013). The entire principal balance and all accrued but unpaid interest is due on December 1, 2019. |  | $ | 4,106,000 |  |  | $ | 4,331,000 |
Mortgage payable to lender, secured by a first mortgage on real property and improvements, bearing interest at 7½%, payable in monthly installments of principal and interest of $28,600, with a balloon payment of approximately $2,833,000 in October, 2013. This loan was paid off early in January, 2013. |  |  | — |  |  |  | 2,958,000 |
Mortgage payable to unrelated third party, secured by first mortgage on real property and improvements, bearing interest at 7½%, amortized over 20 years, payable in monthly installments of principal and interest of approximately $15,700, with a balloon payment of approximately $1,331,000 in December, 2022. |  |  | 1,921,000 |  |  |  | — |
Mortgage payable to lender, secured by a first mortgage on real property and improvements, bearing interest at BBA LIBOR – 1 Month +2.25%, (2.43% at September 28, 2013), but with the principal amount fixed at 4.35% pursuant to a swap agreement, amortized over 20 years, payable in monthly installments of principal and interest of approximately $8,415, with a balloon payment of approximately $858,000 on January 31, 2023. |  |  | 1,375,000 |  |  |  | — |
Term loan payable to lender, secured by a blanket loan on all Company assets, bearing interest at BBA LIBOR – 1 Month + 3.25%, (3.43% at September 28, 2013), but fixed at 4.00% pursuant to a swap agreement, payable in forty two (42) monthly installments of principal and interest of approximately $41,000, with the final payment due July 24, 2016. |  |  | 1,307,000 |  |  |  | — |
Term loan payable to lender, secured by a blanket loan on all Company assets, bearing interest at BBA LIBOR – 1 Month + 2.25%, (2.43% at September 28, 2013), but fixed at 3.43%, pursuant to a swap agreement, payable in monthly installments of principal and interest of approximately $38,000, payable interest only for 3 months and then fully amortized over 45 months, with the final payment due December 1, 2015. |  |  | 960,000 |  |  |  | 1,387,000 |
Term loan payable to lender, secured by a blanket lien on all Company assets and a second mortgage on a building, bearing interest at BBA LIBOR +3.25%, but fixed at 4.55%, pursuant to a swap agreement, payable in monthly installments of principal and interest of approximately $50,000, fully amortized over 36 months, with the final payment due August, 2013. |  |  | — |  |  |  | 508,000 |
Mortgage payable to a related third party, secured by first mortgage on real property and improvements, bearing interest at 10%, amortized over 15 years, payable in monthly installments of principal and interest of approximately $10,800, with a balloon payment of approximately $658,000 due in September, 2018. |  |  | 902,000 |  |  |  | 939,000 |
Mortgage payable to lender, secured by a first mortgage on real property and improvements, bearing interest at BBA LIBOR +2.25%, (2.43% at September 28, 2013), but fixed at 5.11% pursuant to a swap agreement, amortized over 20 years, payable in monthly installments of principal and interest of approximately $4,600, with a balloon payment of approximately $720,000 due in August, 2017. |  |  | 849,000 |  |  |  | 879,000 |
Mortgage payable to unrelated third party, secured by first mortgage on real property and improvements, bearing interest at 8½%, amortized over 15 years, payable in monthly installments of principal and interest of approximately $8,400, with a balloon payment of approximately $537,000 in November, 2017. |  |  | 723,000 |  |  |  | 760,000 |
Mortgage payable to unrelated third party, secured by first mortgage on real property and improvements, bearing interest at 10.0%; amortized over 30 years, payable in monthly installments of principal and interest of approximately $4,000, with a balloon payment of approximately $413,000 in May, 2017. |  |  | 429,000 |  |  |  | 433,000 |
Financed insurance premiums, secured by all insurance policies, bearing interest between 2.99% and 4.89%, payable in monthly installments of principal and interest in the aggregate amount of $24,000 a month through October 1, 2013. |  |  | 116,000 |  |  |  | 333,000 |
Mortgage payable to related third party, secured by first mortgage on real property and improvements, bearing interest at 10%, amortized over 15 years, payable in monthly installments of principal and interest of approximately $9,100, with a balloon payment of approximately $555,000 due in January, 2019. |  |  | 775,000 |  |  |  | 806,000 |
Other |  |  | 83,000 |  |  |  | 84,000 |
|  |  | 13,546,000 |  |  |  | 13,418,000 |
Less current portion |  |  | 1,477,000 |  |  |  | 1,732,000 |
|  | $ | 12,069,000 |  |  | $ | 11,686,000 |
Long-term debt at September 28, 2013 matures as follows:
2014 |  |  | 1,477,000 |
2015 |  |  | 1,361,000 |
2016 |  |  | 1,054,000 |
2017 |  |  | 2,179,000 |
2018 |  |  | 1,086,000 |
Thereafter |  |  | 6,389,000 |
|  | $ | 13,546,000 |
As of September 28, 2013, we are in compliance with the covenants of all loans with our lender.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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