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Mortgage Update

We recently paid off the mortgage for the property next door to IRC.  In celebrating that accomplishment, we may have given the mistaken impression that IRC is now debt free. In fact, IRC still has an $800K mortgage on the primary property. Because this mortgage has very generous terms, it made financial sense to first pay off the property next door, whose loan term was much shorter. We are grateful for the continuing support of our community towards helping us realize our goal of being debt free.