Item 2. Properties
ITEM
2. PROPERTIES
Our
corporate headquarters are located in Carmel, Indiana, where we lease office space for employees, pursuant to a lease agreement with
Zeller-Carmel Property, LLC. The term of this lease commenced on January 1, 2024 and is scheduled to end on May 31, 2029. Over the term
of the lease, the monthly base rent is $6,721 with an annual 2.5% escalator. We received a 50% reduction in our monthly rent for the
first 10 months of the lease.
We
also lease office space in Versailles, Indiana, pursuant to an agreement that commenced January 1, 2022 for a term of one year with automatic
one year renewal options, unless 60 day notice of vacating is given. The monthly base rent is $1,800 with an annual 4% escalator upon
renewal.
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