THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2017 and 2016
NOTE 6 - NOTES RECEIVABLE AND ACCRUED INTEREST Notes receivable and accrued interest consist of the following: 2017 Note 2016 Note
2017 Accrued
2016 Accrued
Maturity
Interest
Affiliated Entity
Description
Balance
Balance
Interest
Interest
Date
Rate
Borrowers
$
98,300 500,000
$
127,660 500,000
$
4,678
$
5,314
Cherry
Seller Loan HTCC Loan Seller Loan Seller Loan
7/14/2046 12/1/2054 12/1/2054 12/18/2044 11/4/2015 12/1/2016
3.860% Cherry Estates
66,925 251,613
52,020 257,161
Bayview Bayview St. Luke's
2.700% Bayview Preservation 2.400% Bayview Preservation 4.170% St. Luke's Preservation 5.000% Alexander House Owner 6.000% 420 S. Virginia Ave. 5.000% CHA (Cambridge)
10,332,544 4,815,000
10,531,817 4,815,000
1,871,382
1,603,721
349,250 36,000 708,370
335,000 36,000
27,494 30,405
10,528 26,646 32,809 12,194
Falls Church Falls Church Falls Church
Loan
Seller Loan
1,216,328 2,141,838 12,800,000 6,353,857
3,086
Loan
[1]
1,765,976 12,800,000 6,056,295 1,200,000 3,000,000 5,185,000 1,252,000 2,740,408 8,789,657
14,449
Forest
Seller Loan Seller Loan Seller Loan
3/19/2037 6/30/2046 12/31/2055 8/25/2024 8/25/2024 12/31/2056 12/31/2056
1.000% Forest Park
5,888,879
5,128,695
Foxwood Hollybush Jamestown Jamestown
4.240% Foxwood Preservation 3.280% Hollybush Preservation
132,022 16,023 307,803 470,119 113,518 73,799 29,304
135,583
-
Loan
-
2.990% Cleme 2.990% Cleme
3,000,000 5,185,000 1,252,000
218,103 100,158 24,185
Acquisition Loan
Milliken Milliken
Seller Loan Reserve Note
7.000% Ships Cove Preservation 7.000% Ships Cove Preservation 2.750% Benning Heights Investor
- -
- -
NHPF NHPF NHPF NHPF NHPF NHPF NHPF NHPF NHPF NHPF NHPF NHPF NHPF
Mark to Market Loan
1/1/2049 2/8/2019
Mirror Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan Sponsor Loan
3.630% Bolton North 3.750% Abysinnian 8.000% Harvest Homes 3.000% Harvest Homes 6.000% Clipper 1.000% Forest Park 5.750% Mark Twain 1.000% Roundtree 0.000% St. Luke's GP 1.000% Walnut Square 1.000% Walnut Square 5.150% Walnut Square
-
175,000 184,250 47,500 300,000
-
2,188
11/30/2016 11/30/2049 10/26/2051
184,250
27,096
15,133
-
-
257 542
150,000
518
N/A
1,450,000 2,339,025
1,450,000
149,688 11,208
135,188
3/19/2037 6/1/2018 12/31/2051 12/18/2044
-
-
295,814 562,654
295,814
6,389
3,195
-
-
-
1,045,000
1,045,001
108,854 62,515 134,147
98,404 56,515 121,272
3/1/2044 3/1/2044
600,000 250,000
600,000 250,000
3/1/2027
17,800,000
17,800,000
3,767,905
3,032,628
Orange
Seller Loan
12/31/2052
3.530% Orange Preservation
109,190 336,256
-
2,527
-
Plaza B II Plaza B II Plaza B II
Gap Note
6/1/2046 6/1/2046 6/1/2046
3.140% Plaza B II 3.140% Plaza B II 3.140% Plaza B II
336,256
38,474 496,577
27,062 352,046
Reserve Note Seller Loan
4,250,669
4,250,669
562,654
-
-
-
St. Luke's GP
Promissory Note
12/18/2044
0.000% St. Luke's Preservation
89,564,312
75,028,990
14,107,397
11,451,547
Sub-total
(2,740,408)
-
-
-
Less: Allowance
Eliminations
(85,981,234)
(73,426,502)
(14,069,234)
(11,383,791)
Total
$
842,670
$
1,602,488
$
38,163
$
67,756
[1] - Loan is due by the third equity installment received at rental achievement.
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