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ORANGE COMMUNITY HOUSING CORPORATION 8 <br />NOTES TO FINANCIAL STATEMENTS <br />Page 2 of 2 <br />ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) <br />G. Commitments (Continued). <br />The Organization entered into a lease agreement for office space <br />requiring a monthly rental of $650 which expires September 30, 1991. <br />Future minimum rentals of $1,950 are required under this lease. <br />The Organization has the option to renew this lease agreement for <br />two successive one -year periods. <br />H. Functional Allocation of Expenses. <br />The costs of providing the various programs and other activities <br />have been summarized on a functional basis in the Statement of <br />Support, Revenue, Expenses, and Changes in Fund Balances. <br />Accordingly, certain costs have been allocated among the program <br />and supporting services benefited. <br />