Annual report pursuant to Section 13 and 15(d)

Note 7 - Lease Commitments

v3.3.1.900
Note 7 - Lease Commitments
 12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
(7)
Lease Commitments
 
The Trust is a lessee under an operating lease in connection with its administrative offices located in Dallas, Texas. This lease agreement requires monthly rent payments and expires in March 2025. Future minimum lease payments were as follows at December 31, 2015:
 
Year ending December 31,
 
Amount
 
2016
   $ 72,608  
2017
     75,224  
2018
     77,841  
2019
     80,457  
2020
     83,074  
Thereafter
     382,009  
    $ 771,213  
 
Rent expense amounted to $79,415, $70,400 and $70,400 for the years ended December 31, 2015, 2014 and 2013, respectively.