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I
<br /> Il - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--Continued
<br /> ADJUSTERS INTERNATIONAL, INC. AND SUBSIDIARIES
<br /> IDecember 31, 2016 and 2015
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<br /> NOTE H--RELATED PARTY TRANSACTIONS/LEASES--Continued
<br /> AI and Tidal Basin lease office space as follows:
<br /> 1 \ Monthly Rent
<br /> December 31,
<br /> Office location Lease term � � 2016 2015
<br /> AI: �D
<br /> Albany,NY Jan 1, 2015 —Dec 31,!209^** $ 1,071 $ 1,071
<br /> I Albany,NY Nov 1, 2013 —Oct43:1\216 7,430 7,169
<br /> Albany, NY Sep 1, 2014—Aug�3, 2015 -0- 450
<br /> Kahului, HI Mar 1, 2011 ----Fib 28, 2016 1,619 1,557
<br /> Kansas City, MO Oct 1, 204 Sep 30, 2015 -0- 1,282
<br /> Seattle,WA Month to month 500 500
<br /> Cbt- 10,620 12,029
<br /> Tidal Basin:
<br /> Washington, D.0 tN9 1, 2014—Feb 28, 2020. 16,231 -0-
<br /> New Orleans, LA . ! Oct 1, 2014—Dec 31, 2017 1,626 -0-
<br /> e ,0j_ 17,857 0-
<br /> ®9 $28,477 $ 12,029
<br /> I ** The lease required gLos"s monthly rents of$3,214, however, AI has an informal rent sharing
<br /> agreement with of its stockholders that stipulates that the monthly rent expense will be
<br /> Ishared between both entities at approximately 30% to AI and 70% to AI's stockholder.
<br /> Future minimum lease payments net of the rent sharing agreement amounts discussed previously
<br /> 0 are approximately as follows:
<br /> During the year ending December 31:
<br /> 2017 $234,000
<br /> 2018 220,000
<br /> 2019 225,000
<br /> 2020 36,000
<br /> $ 715,000
<br /> The total rent expense included in the consolidated statements of operations for the years ended
<br /> December 31, 2016 and 2015 is approximately$93,000 and $132,000, respectively.
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