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Event Subsequent To The Balance Sheet
3 Months Ended
Mar. 31, 2012
Event Subsequent To The Balance Sheet [Abstract]  
EVENT SUBEQUENT TO THE BALANCE SHEET

9. EVENT SUBSEQUENT TO THE BALANCE SHEET

Lease Agreement

In April 2012, the Company entered into a lease agreement to operate an 88-bed skilled nursing center in Clinton, Kentucky. The center is subject to a mortgage insured through the United States Department of Housing and Urban Development. The current annual lease payments are approximately $360,000. The lease has an initial ten year term with two five year renewal options and contains an option to purchase the property for $3.3 million during the first five years. The center has not had residents since April 2011 after being de-certified by Medicare and Medicaid. The lease may be terminated if the center does not obtain certifications under the Medicare and Kentucky Medicaid programs by October 15, 2012.