Annual report pursuant to Section 13 and 15(d)

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

v3.10.0.1
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
12 Months Ended
Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - CorEnergy Infrastructure Trust, Inc.
Description
 
Interest Rate
 
Final Maturity
 
Monthly Payment Amount
 
Prior Liens
 
Face Value
 
Carrying Amount of Mortgage
 
Principal Amount of Loans Subject to Delinquent Principal or Interest
First Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Billings, Dunn and McKenzie Counties, North Dakota (Morlock Well)
 
8.52%
 
6/15/2019
 
$

 
None
 
$
1,300,000

 
$
1,300,000

 
$

Total
 
 
 
 
 
 
 
 
 
$
1,300,000

 
$
1,300,000

 
$

NOTES TO SCHEDULE IV - CONSOLIDATED MORTGAGE LOANS ON REAL ESTATE
Reconciliation of Mortgage Loans on Real Estate
 
For the Years Ended December 31,
 
2018
 
2017
 
2016
Beginning balance
$
1,500,000

 
$
1,500,000

 
$
6,877,021

Additions:
 
 
 
 
 
New loans

 

 
100,000

Interest receivable(1)

 

 
(95,114
)
Total Additions
$

 
$

 
$
4,886

Deductions:
 
 
 
 
 
Principal repayments(2)
$
236,867

 
$

 
$

Foreclosures

 

 
1,857,000

Amortization of deferred costs

 

 
(2,025
)
Principal, Interest and Deferred Costs Write (Up) Down(2)(3)
(36,867
)
 

 
3,526,932

Total deductions
$
200,000

 
$

 
$
5,381,907

Ending balance
$
1,300,000

 
$
1,500,000

 
$
1,500,000

(1) In 2016, $100 thousand of interest receivable on the SWD Enterprises REIT note was converted to principal.
(2) In 2018, Four Wood Corridor and Compass SWD executed a $1.3 million loan agreement and Compass SWD paid approximately $237 thousand in cash for assets secured by the previous $1.5 million loans. As a result, SWD Enterprises was released from the terms of its loans, and the Company recognized a provision for loan gain of $37 thousand in the Consolidated Statements of Income. Refer to Note 5 ("Financing Notes Receivable") for further details.
(3) For 2016, the amount of provision for loan loss on the Consolidated Statements of Income also includes (a) $656 thousand of loan losses not related to mortgage loans and (b) $832 thousand of losses associated with the foreclosure and sale of Black Bison.