Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 173

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 173
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 (“NRMH”) and their Lender has a covenant for a Fixed Charge Coverage Ratio, (“FCCR”) as defined for NRMH as of any date (a) the sum of (i) EBITDA for the period ended as of such date minus (ii) Distributions for the period ended as of such date divided by (b) the sum of (ii) Principal Payments Paid for the period ended as of such date plus (iii) Interest Expense for period ended as of such date.  The FCCR is to be no less than 1.10 to 1.00, tested at the end of each fiscal quarter.  As of  December 31, 2024, NRMH was in compliance with this covenant.  The Company and stand along subsidiaries have other various quarterly and annual reporting requirements to the individual property lenders and is in compliance with all material conditions and covenants on those mortgage notes payable as of  December 31, 2024.
    
   Scheduled principal payments of mortgage notes payable were as follows as of  December 31, 2024:

        F-
       24

       Commercial    Model      
   Properties    Homes    Total Principal  
 Years ending December 31:   Notes Payable    Notes Payable    Payments  
 2025  $30,494,515  $8,283,913  $38,778,428 
 2026   16,654,441   1,668,193   18,322,634 
 2027   302,885   495,924   798,809 
 2028   322,652   9,575,775   9,898,427 
 2029   17,291,085   6,036,993   23,328,078 
 Thereafter   11,715,693   —   11,715,693 
 Total  $76,781,271  $26,060,798  $102,842,069 

   8. NOTES PAYABLE
    
   On  April 22, 2020, the Company received an Economic Injury Disaster Loan of $10,000 from the Small Business Administration ("SBA") to provide economic relief during the COVID-19 pandemic. This loan advance is not required to be repaid, has no stipulations on