Related-Party Transactions-Rent Income (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Rent Income

Rent income was comprised as follows:

	Year ended December 31,
	2012		2011
Basic annual rent	$	3,534,344	$	3,288,666
Primary Overage rent		752,000		752,000
Secondary Overage rent		3,558,414		4,350,339
Total Overage rent		4,310,414		5,102,339
Rent income	$	7,844,758	$	8,391,005

Schedule of Future Minimum Rental Income

The following is a schedule of future minimum rental income (assuming that the Lessee does not surrender the Lease):

Year Ending December 31,
2013	$	3,860,000
2014		3,860,000
2015		28,000	*
2016		28,000	*
2017		28,000	*
Thereafter		996,000	*
	$	8,800,000

* Associates intends to refinance the existing mortgages which mature on January 5, 2015. In accordance with the November 2000 Lease Modification Agreement and subsequent modifications, basic rent will increase to include the required debt service on the refinanced mortgages. The above table does not reflect the additional basic rent that will result after January 2015 from the refinanced debt.