Notes Payable |
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Notes Payable [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable |
Notes payable consisted of the following as of December 31, 2021 and 2020:
Included within notes payable as of December 31, 2020 is a $20,000,000 bridge loan from Boston Omaha Corporation, LLC, which was utilized to fund a portion of the purchase price of the H&H Homes acquisition (Note 2). This note was
paid off subsequent to the execution of the Credit Agreement in January 2021 (Note 3).
The principal balance on all notes payable is payable upon the sale of project specific collateral, and is collateralized by a real estate mortgage
and a limited guarantee ensuring project completeness and the nonexistence of fraudulent acts.
Contractual maturities of notes payable as of December 31, 2021, are as follows:
During the year ended December 31, 2021, there were no material changes in the contractual maturities of our remaining notes payable.
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