SCHEDULE IV

MORTGAGE LOANS RECEIVABLE ON REAL ESTATE

(in thousands)


														Principal
														Amount of
												Carrying		Loans
								Current				Amount of		Subject to
	(Unaudited)							Monthly		Face		Mortgages		Delinquent
	Number of				Final	Balloon		Debt		Amount of		December 31,		Principal or
State	Properties		Units/Beds(3)	Interest Rate(1)	Maturity Date	Amount(2)		Service		Mortgages		2016		Interest
MI	15		2,102	9.53%	2043	$	153,770	$	1,427	$	175,083	$	180,940	$	—
MI	1		157	9.41%	2045		8,825		77		9,806		9,872		—
MI	2		273	9.41%	2045		13,920		120		15,000		15,565		—
MI	2		216	9.41%	2020		7,750		62		7,750		7,765
Various	11		555	7.32%-13.95%	2017-2019		16,746		216		20,781		15,659		—
	31	(4)	3,303			$	201,011	$	1,902	$	228,420	$	229,801	$	—

⁽¹⁾

Represents current stated interest rate. Generally, the loans have 20 year to 30‑year amortization with principal and interest payable at varying amounts over the life to maturity with annual interest adjustments through specified fixed rate increases effective either on the first anniversary or calendar year of the loan.

⁽²⁾

Balloon payment is due upon maturity.

⁽³⁾

This number is based upon unit/bed counts shown on operating licenses provided to us by borrowers or units/beds as stipulated by mortgage documents. We have found during the years that these numbers often differ, usually not materially, from units/beds in operation at any point in time. The differences are caused by such things as operators converting a patient/resident room for alternative uses, such as offices or storage, or converting a multi‑patient room/unit into a single patient room/unit. We monitor our properties on a routine basis through site visits and reviews of current licenses. In an instance where such change would cause a de‑licensing of beds or in our opinion impact the value of the property, we would take action against the borrower to preserve the value of the property/collateral.

⁽⁴⁾

Includes 11 first‑lien mortgage loans as follows:


Number of Loans	Original loan amounts
4		$ 500 - $2,000
0		$2,001 - $3,000
1		$3,001 - $4,000
0		$4,001 - $5,000
1		$5,001 - $6,000
1		$6,001 - $7,000
4		$7,001 +

Mortgage loans receivable activity for the years ended December 31, 2016, 2015 and 2014 is as follows:



Balance— December 31, 2013	$	165,444
New mortgage loans		3,027
Other additions		6,347
Amortization of mortgage premium		(5)
Collections of principal		(9,155)
Foreclosures		—
Loan loss reserve		(2)
Other deductions		—
Balance— December 31, 2014		165,656
New mortgage loans		60,209
Other additions		6,925
Land conveyance		670
Amortization of mortgage premium		(6)
Collections of principal		(15,408)
Foreclosures		—
Loan loss reserve		(517)
Other deductions		—
Balance— December 31, 2015		217,529
New mortgage loans		13,250
Other additions		7,435
Amortization of mortgage premium		(10)
Collections of principal		(8,278)
Foreclosures		—
Loan loss reserve		(125)
Other deductions		—
Balance— December 31, 2016	$	229,801