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Lease Obligations

12 Months Ended

Dec. 31, 2012

Leases of Lessee Disclosure [Text Block]

15.

Lease Obligations

The Company has entered into certain land lease agreements for four of its properties. Rent expense was $574,300, $721,300, and $476,531 for the years ending December 31, 2012, 2011 and 2010, respectively. As of December 31, 2012, future annual lease commitments under these agreements are as follows:

For the Year Ending December 31,
2013	$	415,900
2014		415,900
2015		415,900
2016		415,900
2017		415,900
Thereafter		8,677,521

Total	$	10,757,021

The Company leases its executive offices from a limited liability company controlled by its Chief Executive Officer’s children. Under the terms of the lease, which expires on December 31, 2014, the Company is required to pay an annual rental of $90,000 and is responsible for the payment of real estate taxes, insurance and maintenance expenses relating to the building.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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