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EXCHANGE CLUB CENTER FOR THE PREVENTION OF <br /> CHILD ABUSE OF THE TREASURE COAST, INC . <br /> NOTES TO FINANCIAL STATEMENTS (Continued) <br /> September 30, 2002 <br /> Note 3 - Fixed Assets <br /> An analysis of the fixed assets accounts for the year are as follows : <br /> Balance Balance <br /> October September <br /> 1 , 2001 Additions Deletions 30, 2002 <br /> Land $ 1062250 $ $ $ 1062250 <br /> Building 356, 846 356, 846 <br /> Furniture and equipment 105 ,484 5 ,464 8 , 863 102, 085 <br /> Vehicles 20A75 3 , 656 20,475 3 . 656 <br /> Total Cost 5895055 9, 120 299338 5682837 <br /> Less accumulated depreciation 133 , 109 28 , 575 244599 137,085 <br /> Net 4 4 ( 19.4551 — 4 . 7391 -$ 431352 <br /> Note 4 - Investment in Timeshare <br /> The Organization has the rights to a timeshare unit. The estimated fair market value of the unit <br /> at the time of donation was $ 3 , 138 . At September 30 , 2002 , the accumulated amortization on <br /> this unit was $404 . The rights to this unit expire in 2022 . <br /> Note 5 - Mortgage Receivable <br /> The Organization has received a second mortgage note receivable as a donation. The mortgage <br /> receivable is collateralized by real estate and bears interest at 8 percent. Principal and interest <br /> payments are $413 per month. The mortgage matures in December 2017 . Future payments <br /> under this mortgage are estimated as follows : <br /> Year Ending <br /> September 30, <br /> 2002 $ 1 ,494 <br /> 2003 1 ,618 <br /> 2004 1 , 752 <br /> 2005 1 , 809 <br /> 2006 2, 055 <br /> Thereafter 35 , 092 <br /> 43 0 <br /> At September 30, 2002, this mortgage was five months in arrears . Subsequent to year-end the <br /> mortgage has become current. <br /> 42- <br />