Note Payable (Tables)

9 Months Ended

Sep. 30, 2019

Notes Payable [Abstract]

Carrying Value of Note Payable

The carrying value of the Company’s note payable is summarized as follows:

Note Payable	September 30, 2019			December 31, 2018
Principal balance outstanding	$	19,458,149		$	19,809,511
Less: Loan procurement costs, net		(509,048	)		(540,261	)
Total note payable, net	$	18,949,101		$	19,269,250

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of September 30, 2019:

2019	$	159,736
2020		492,797
2021		513,857
2022		535,816
2023		558,714
2024 and thereafter		17,197,229
Total principal payments	$	19,458,149