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Notes to Financial Statements <br /> Page 10 <br /> Note 7: Notes Payable, Continued <br /> 2013 2012 <br /> in monthly installments of $18,025 <br /> with all remaining outstanding <br /> balance due on October 1, 2014; <br /> secured by real estate located <br /> at 1214 Vaughan Rd. , Burlington, " <br /> N.C. ; assignment of cash deposits <br /> at the bank. 1,209,837 1,405,508 <br /> $850,000 mortgage note payable <br /> to U.S. Department of Agri- <br /> culture, Rural Development " <br /> (ORD) , dated February 28, 2006; <br /> interest rate 4.5%; payable in <br /> monthly installments $6,503; <br /> maturity February 28, 2021; <br /> secured by real property <br /> located in Siler City, N.C. 481,913 536,710 <br /> $300,000 note payable to Wells Fargo <br /> Bank; dated May 27, 2008, interest <br /> rate LIBOR plus 1.5%; payable <br /> interest only through March 31; <br /> 2009; principal of one-sixtieth . <br /> (1/60) monthly to March 31, 2014, <br /> plus accrued interest thereon; <br /> secured by personal property, <br /> accounts receivable, inventory, <br /> cash and investments. 30,000 85,000 <br /> On September 9, 2003, the <br /> Organization entered into a <br /> loan agreement with the U. S:. <br /> D. A. , Rural Development (RD) . <br /> The loan agreement provided <br /> funds totaling $200,000 at 4.25% <br /> interest with repayments over a <br /> 15 year period; principal and <br /> interest payable at $1,506 per <br /> month; secured by real property-- <br /> Scott Clinic. 78,493 90,534 <br /> -23- <br />