7.	OTHER ASSETS

A summary of other assets follows:

	April 30,		May 1,
(dollars in thousands)	2017		2016
cash surrender value – life insurance	$	376		357
non-compete agreement, net		828		903
customer relationships, net		664		715
other		526		598
	$	2,394		2,573

Non-Compete Agreement

We recorded our non-compete agreement at its fair value based on a discounted cash flow valuation model. This non-compete agreement is amortized on a straight line basis over the fifteen year life of the agreement.

The gross carrying amount of this non-compete agreement was $2.0 million at April 30, 2017 and May 1, 2016, respectively. Accumulated amortization for this non-compete agreement was $1.2 million and $1.1 million at April 30, 2017 and May 1, 2016, respectively.

Amortization expense for this non-compete agreement was $75,000 in fiscal years 2017, 2016, and 2015, respectively. The remaining amortization expense for the next five years and thereafter follows: FY 2018 - $75,000; FY 2019 - $75,000; FY 2020 - $75,000; FY 2021 - $75,000; FY 2022 - $75,000, and Thereafter - $453,000.

The weighted average amortization period for the non-compete agreement is 11 years as of April 30, 2017.

Customer Relationships

We recorded the customer relationships at their fair value based on a multi-period excess earnings valuation model. The gross carrying amount of these customer relationships was $868,000 at April 30, 2017 and May 1, 2016, respectively. Accumulated amortization for these customer relationships was $204,000 and $153,000 at April 30, 2017 and May 1, 2016, respectively.

The customer relationships are amortized on a straight-line basis over their seventeen year useful life. Amortization expense for the customer relationships was $51,000 for fiscal years 2017, 2016, and 2015, respectively. The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2018 - $51,000; FY 2019 - $51,000; FY 2020 - $51,000; FY 2021 - $51,000; FY 2022 - $51,000; and

Thereafter - $409,000.

The weighted average amortization period for our customer relationships is 13 years as of April 30, 2017.

Cash Surrender Value - Life Insurance

We had one life insurance contract with a death benefit of $1.4 million at April 30, 2017 and May 1, 2016, respectively. Our cash surrender value - life insurance balances of $376,000 and $357,000 at April 30, 2017 and May 1, 2016, respectively, are collectible upon death of the respective insured.