OPERATING LEASES

12 Months Ended

Dec. 31, 2015

Schedule of Future Minimum Rental Payment for Operating Leases (Tables)

OPERATING LEASES

NOTE F – OPERATING LEASES

The Company leases a retirement community under an operating lease which expires January 31, 2017, with an option to renew for an additional five-year period. The Company also has operating leases for equipment and office space.  The leases generally provide that the Company pay property taxes, insurance and maintenance.

Future minimum payments for the primary lease following December 31, 2015 are as follows (in thousands):

2016		1,000
2017		83
	$	1,083

Lease expense in 2015, 2014 and 2013 was $980,000, $961,000, and $942,000 respectively.