CorEnergy Infrastructure Trust, Inc. Annual report pursuant to Section 13 and 15(d)

MORTGAGE LOANS ON REAL ESTATE (Notes)

12 Months Ended

Dec. 31, 2014

MORTGAGE LOANS ON REAL ESTATE - CorEnergy Infrastructure Trust, Inc.



Description	Interest Rate			Final Maturity	Monthly Payment Amount ⁽²⁾		Prior Liens	Face Value		Carrying Amount of Mortgage		Principal Amount of Loans Subject to Delinquent Principal or Interest
First Mortgages
Campbell County - Wyoming (Reed, Gillette, Lemay)	12.00%	(1	)	3/31/2024	$	127,508	None	$	12,000,000	$	12,175,029	$	—
Billings, Dunn, and McKenzie Counties, North Dakota (Morlock Well)	12.00%			12/31/2024	$	40,000	None	4,000,000		3,948,738		—
Second Mortgages
Campbell County - Wyoming (Reed, Gillette, Lemay)	12.00%	(1	)	3/31/2024	$	35,115	None	3,300,000		3,336,403		—
Billings, Dunn, and McKenzie Counties, North Dakota (Morlock Well)	13.00%			12/31/2024	$	10,833	None	1,000,000		975,000		—
								$	20,300,000	$	20,435,170	$	—

(1) Interest rate increases by 2% of the previous year's rate

(2) Equal monthly installments comprised of interest

NOTES TO SCHEDULE IV - CONSOLIDATED MORTGAGE LOANS ON REAL ESTATE

Reconciliation of Mortgage Loans on Real Estate



	For the Years Ended							One-Month Transition Period Ended December 31, 2012
	December 31, 2014			December 31, 2013		November 30, 2012		One-Month Transition Period Ended December 31, 2012
Beginning balance	$	—		$	—	$	—	$	—
Additions:
New loans	20,300,000			—		—		—
Net deferred costs	(86,508		)	—		—		—
Interest receivable	220,349			—		—		—
Total Additions	$	20,433,841		$	—	$	—	$	—

Deductions:
Principal repayments	$	—		$	—	$	—	$	—
Amortization of deferred costs	1,329			—		—		—
Total deductions	$	1,329		$	—	$	—	$	—

Ending balance	$	20,435,170		$	—	$	—	$	—