Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies [Text Block]

Note 9 – Commitments and Contingencies

     At December 31, 2014, HGI’s commitments consist of the Unused Line Fee on its Credit Facility (as described in Note 8), leases related to its offices in California, Illinois and Arizona, and an automobile lease. The California leases expire in July 2016 and December 2019; the Illinois lease expires in June 2018, and the Arizona lease expires in August 2016. The automobile lease expires in June 2017. The annual lease obligations are as shown below:

2015	$	475
2016		378
2017		225
2018		166
Five years and beyond		127
	$	1,371

     In the normal course of its business, HGI may be subject to contingent liability with respect to assets sold either directly or through Joint Ventures. At December 31, 2014 HGI does not expect any of these contingent liabilities, individually or in the aggregate, to have a material adverse effect on its assets or results of operations.