Note Payable (Tables)

12 Months Ended

Dec. 31, 2016

Notes Payable [Abstract]

Carrying Value of Note Payable

As of December 31, 2016, the Company’s note payable is summarized as follows:

Note Payable	Carrying Value
Principal balance outstanding	$	20,000,000
Less: Loan procurement costs, net		(625,029	)
Total note payable, net	$	19,374,971

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of December 31, 2016:

2017	$	—
2018		228,987
2019		472,600
2020		492,797
2021		513,857
2022 and thereafter		18,291,759
Total principal payments		20,000,000
Less: Loan procurement costs, net		(625,029	)
Total note payable	$	19,374,971