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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2015
Mortgage Loans on Real Estate [Abstract]  
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
NATIONAL RETAIL PROPERTIES, INC. AND SUBSIDIARIES
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
December 31, 2015
(dollars in thousands)
 
Description
Interest
Rate
 
Maturity
Date
 
Periodic
Payment
Terms
 
Prior
Liens
 
Face 
Amount
of Mortgages
 
Carrying
Amount of
Mortgages (e)
 
Principal
Amount
of Loans Subject
to Delinquent
Principal or
Interest
First mortgages on properties:
 
 
 
 
 
 
 
 
 
 
 
 
 
Paramus, NJ
9.000
%
 
2/1/2022
 
(b)
 
—

 
$
6,000

 
$
3,338

  
$
—

Marlow Heights, MD
7.000
%
 
5/14/2016
 
(c)
 
—

 
750

 
750

 
—

4 properties in FL and GA
6.250
%
 
6/30/2015
 
(d)
 
—

 
5,500

 
4,073

 
—

Corpus Christi, TX
4.500
%
 
3/1/2018
 
(c)
 
—

 
500

 
500

 
—

 
 
 
 
 
 
 
 
 
$
12,750

 
$
8,661

(a) 
$
—


(a)
The following shows the changes in the carrying amounts of mortgage loans during the years:

 
2015
 
 
 
2014
 
 
 
2013
 
 
Balance at beginning of year
$
10,930

 
  
 
$
14,430

 
  
 
$
17,482

 
  
New mortgage loans
500

 
(f) 
 
7,307

 
(f) 
 
3,547

 
(f) 
Deductions during the year:
 
 
 
 
 
 
 
 
 
 
 
Collections of principal
(2,319
)
 
 
 
(10,807
)
 
 
 
(6,599
)
 
 
Cost of mortgages sold
(450
)
 
 
 
—

 
  
 
—

 
 
Balance at the close of year
$
8,661

 
  
 
$
10,930

 
  
 
$
14,430

 
  


(b)
Principal and interest is payable at level amounts over the life of the loan.
(c)
Interest only payments are due monthly. Principal is due at maturity.
(d)
Interest only payments are due monthly. Periodic principal payments are due over the course of the loan based on specific terms outlined in the loan agreement, with the remaining principal balance due at maturity.
(e)
Mortgages held by NNN and its subsidiaries for federal income tax purposes for the years ended December 31, 2015, 2014 and 2013 were $8,661, $10,930, and $14,430, respectively.
(f)
Mortgages totaling $500, $7,307, and $3,547, were accepted in connection with real estate transactions for the year ended December 31, 2015, 2014 and 2013, respectively.


See accompanying report of independent registered public accounting firm.