The third revolving credit facility of $25 million (i) has a maturity date of August 1, 2020, (ii) bears interest at a rate per annum equal to the 90 day LIBOR, plus 130 basis points, and (iii) requires us to make quarterly interest payments on April I, July 1, October 1 and January I of each calendar year. Additionally, the third revolving credit facility requires us to pay a quarterly non-usage fee equal to (x) 0.25%, on an annualized basis, multiplied by (y) an amount equal to the total funds drawn under the facility subtracted from the aggregate principal amount of $25 million. Events of Default The revolving credit facilities contain customary events of default, including defaults in the payment of principal or interest, defaults in compliance in all material respects with the terms and conditions of the agreement and other documents evidencing the credit facilities, defaults in payments relating to any other indebtedness owed to the lender, and bankruptcy or other insolvency events. As of June 30, 2015, we were in compliance with all covenants contained in the credit facility agreement. Security The original revolving credit facility is secured by first lien mortgages on our Pleasant Plains, Macomb Farm, Sweetwater Farm, Tillar Farm and Kane County Farms properties, with the loan commitment amount not to exceed 50% of the current appraised value of the farms pledged as collateral. The second revolving credit facility is secured by first lien mortgages on our Sandpiper Ranch, Quail Run Vineyard, Golden Eagle Ranch and Blue Ileron Farms properties, with the loan commitment amount not to exceed 50% of the current appraised value of the farms pledged as collateral. The third revolving credit facility is secured by first lien mortgages on our Kimberly Vineyard 2, Condor Ranch, Roadrunner Ranch, Blue Cypress, Grassy Island Groves properties, with the loan commitment amount not to exceed 50% of the current appraised value of the farms pledged a