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EXTENSION OF LEASE FOR EXISTING LOCATION:
6 Months Ended
Mar. 31, 2018
RECENT EXTENSION OF EXISTING LEASE FOR EXISTING LOCATION [Abstract]  
EXTENSION OF LEASE FOR EXISTING LOCATION:

(4) EXTENSION OF LEASE FOR EXISTING LOCATION:

 

Pinecrest, Florida

 

During the second quarter of our fiscal year 2018, the lease with an unrelated third party for the restaurant owned by our limited partnership located at 11415 S. Dixie Highway, Pinecrest, Florida (Store #13) was extended for five years through July 31, 2026. The extended lease will be on the same terms and conditions, except the annual rent (base and estimated percentage rent) effective February 1, 2018 will increase by approximately 20%, with annual 3% increases on the base rent thereafter commencing February 1, 2021.