Mortgages on Properties Held for Development: |
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgages on Properties Held for Development: | 5. Mortgages on Properties Held for Development:
On August 14, 2025, the Company closed on a funding facility with Asset Based Lending for the Autumn Run manufactured home development. The total facility is in the amount of $13,600,000 and includes a refinance of the existing land debt, a percentage of the infrastructure/site development costs and a vertical construction facility for the entire development. As a result of this funding, the existing $750,000 mortgage with Lynx Assets has been retired. The new line carries and interest rate of 10.50% per annum and term of 2 years. At September 30, 2025, $1,229,100 was advanced under this facility.
The following summarizes the use of proceeds:
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