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CHI-ADA CORPORATION <br /> NOTES TO FINANCIAL STATEMENTS <br /> FOR THE YEAR ENDED DECEMBER 31, 2014 <br /> Lease Commitments <br /> Chi-Ada Corporation is currently leasing from Michael Sasoni whose office is <br /> located at 5600 Oak-View Terrace, Hollywood, Fl 33312. The current lease is <br /> $1,959.83 per month. The lease was renewed on January 1St 2014 for two years. <br /> The total rental expense for fiscal year 2014 was $23,518. <br /> Total future minimum lease commitments are as follows: <br /> 2015 $24.276 <br /> On June 1, 2013, Chi-Ada Corporation entered in a Nineteen month lease with <br /> T.M.C. Commercial Center, Inc. The lease is a Nineteen month lease which <br /> commences from June 01, 2013, and on the first day of each month thereafter <br /> through December 31, 2014, the sum of $1,500 which includes rent and Florida <br /> sales tax, applicable property tax and insurance will be paid to the Lessor by Chi- <br /> Ada Corporation. Rent expense for 2014 was $18,000. <br /> Mortgage Note Payable <br /> The Company has a mortgage note on the office building that is located in Fort <br /> Worth, Texas with Wells Fargo Bank. This requires monthly mortgage payment <br /> of $2,752.96, including interest at 7.23% and the outstanding balance as of <br /> December 31, 2014, is $204,075. Interest expense for the mortgage note for the <br /> year ended December 31, 2014 was $17,398. <br /> • <br /> 10 <br />