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Notes Payable to Banks | 12 Months Ended
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Jan. 31, 2021
Notes Payable To Banks |
Notes Payable to Banks | 12. NOTES PAYABLE TO BANKS On October 17, 2017, the Trust entered into a Business Loan Agreement with Republic Bank of Arizona for a revolving line of credit for $150,000. The loan has a variable rate as the published rate in the Wall Street Journal and matures in December 2021. The balance as of January 31, 2021 and 2020 was $0. On October 17, 2017 Albuquerque Suite Hospitality LLC (the Albuquerque Hotel) entered into a Business Loan Agreement with Republic Bank of Arizona for a revolving line of credit for $50,000. The loan has a variable rate as the published rate in the Wall Street Journal and matures in October 2022. The balance as of January 31, 2021 and 2020 was $0. On October 17, 2017 Tucson Hospitality Properties LLLP (the Tucson Hotel) entered into a Business Loan Agreement for a revolving line of credit for $50,000. The loan has a variable rate as the published rate in the Wall Street Journal and matures in October 2022. The balance as of January 31, 2021 and 2020 was $0.

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