MORTGAGE NOTE RECEIVABLE

12 Months Ended

Oct. 31, 2016

(4) MORTGAGE NOTE RECEIVABLE

In October 2016, the Company, though a wholly-owned subsidiary originated a loan in the amount of $13.5 million secured by a first mortgage on a shopping center located in Rockland County, NY. The loan requires payments to the Company of interest only recognized on the effective yield method at the rate of one-month LIBOR plus 3.25% per annum. The loan has a maturity date of October 10, 2017. The Company funded the mortgage loan with available cash.

Principal payments on the mortgage note receivable become due as follows:

Fiscal Year Ended	Amount
October 31,	(In thousands)
2017	$	13,500
2018		-
2019		-
2020		-
2021		-
Thereafter		-

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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