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Annual report pursuant to Section 13 and 15(d)

Note 7 - Lease Commitments

v2.4.0.8
Note 7 - Lease Commitments
12 Months Ended
Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract] Ìý
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 of approximately $5,867 and expires in October 2014. Future minimum lease payments were as follows at December 31, 2013:


Year ending December 31,

Ìý

Amount

Ìý

2014

Ìý $ 58,667 Ìý

2015

Ìý Ìý - Ìý

2016

Ìý Ìý - Ìý

2017

Ìý Ìý - Ìý

Thereafter

Ìý Ìý - Ìý
Ìý Ìý $ 58,667 Ìý

Rent expense amounted to $70,400 for each of the years ended December 31, 2013, 2012, and 2011, respectively.