SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2022

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

LTC PROPERTIES, INC.

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 ⁽¹⁾	Interest Rate ⁽²⁾	Maturity Date	Amount ⁽³⁾		Service		Mortgages		2022		Interest
MI	15		1,875	10.60%	2043	$	163,214	$	1,623	$	190,214	$	182,514	$	—
MI	4		480	9.60%	2045		35,576		311		39,406		38,636		—
MI	1		146	10.10%	2045		14,325		125		15,000		14,726		—
MI	2		201	9.80%	2045		19,750		162		19,750		19,553		—
FL	1		68	7.80%	2025		14,308		92		14,308		14,165		—
LA	1		189	7.50%	2024		29,346		186		29,346		29,054		—
MO	—		—	7.50%	2023		1,887		12		1,887		1,867		—
NC	4		217	7.30%	2026		33,000		209		33,000		32,670		—
NC	—		—	7.30%	2026		796		5		796		788		—
NC	12	⁽⁴⁾	478	7.30%	2025		51,531		318		51,531		51,016		—
SC	1	⁽⁴⁾	45	7.30%	2025		4,787		30		4,787		4,739		—
	41	⁽⁵⁾	3,699			$	368,520	$	3,073	$	400,025	$	389,728	$	—

(1)

This number is based upon unit/bed counts shown on operating licenses provided to us by lessee/borrowers or units/beds as stipulated by lease/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.

(2)	Represents current stated interest rate. Generally, the loans have 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.

(3)	Balloon payment is due upon maturity.

(4)	Represents a single mortgage loan secured by 13 ALFs. The mortgage loan was allocated by state for reporting purposes only.

(5)	Includes 10 first-lien mortgage loans as follows:


Number of Loans	Original loan amounts
2		$ 500 - $2,000
0		$2,001 - $3,000
0		$3,001 - $4,000
0		$4,001 - $5,000
0		$5,001 - $6,000
0		$6,001 - $7,000
8		$7,001 +

Mortgage loans receivable activity for the years ended December 31, 2022, 2021 and 2020 is as follows:



Balance— December 31, 2019	$	254,099
New mortgage loans		—
Other additions		4,253
Amortization of mortgage premium		(4)
Collections of principal		(1,065)
Foreclosures		—
Loan loss reserve		(32)
Other deductions		—
Balance— December 31, 2020		257,251
New mortgage loans		88,415
Other additions		540
Application of interest reserve		298
Amortization of mortgage premium		(6)
Collections of principal		(1,175)
Foreclosures		—
Loan loss reserve		(881)
Other deductions		—
Balance— December 31, 2021		344,442
New mortgage loans		31,965
Other additions		8,767
Application of interest reserve		6,192
Amortization of mortgage premium		(6)
Collections of principal		(1,175)
Foreclosures		—
Loan loss reserve		(457)
Other deductions		—
Balance— December 31, 2022	$	389,728