b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM NOTES TO FINANCIAL STATEMENTS JUNE 30, 2024 AND 2023NOTE 12LEASES (Continued)LAFPP as a Lessor (Continued)Future annual receipts for these leases as of June 30, 2024 are as follows: Year Ending Principal Interest Total2025 $ 238,775 $6,802 $ 245,5772026 32,690385 33,075$ 271,465 $7,187 $ 278,652NOTE 13MORTGAGES PAYABLEMortgages are secured by real estate.For fiscal year 2024, interest rates range from 1.81% to 5.71% per annum.The average monthly principal and interest payments range from $37,708 to $140,371.For fiscal year 2023, interest rates ranged from 1.81% to 4.30% per annum.The average monthly principal and interest payments ranged from $10,893 to $88,479.The mortgages mature from October 2026 to November 2032.Principal and interest payments due under such mortgages are as follows for the years ending June 30: Year Ending Principal Interest Total2025$ - $ 6,114,539 $ 6,114,5392026 -6,235,0216,235,021202725,000,0005,895,64630,895,6462028 -5,785,3345,785,334202965,810,0003,358,50269,168,5022030-203392,210,0003,183,85595,393,855$ 183,020,000 $ 30,572,897 $ 213,592,897AThe mortgages are secured by real estate that was purchased with the funds.The following is a summary of mortgage payable activities for the years ended June 30, 2024 and 2023:Balance Balance Fair ValueJune 30, 2023 Additions Deletions June 30, 2024 June 30, 2024Mortgage Payable $196,613,299 $ - $13,593,299 $183,020,000 $173,673,622Balance Balance Fair ValueJune 30, 2022 Additions Deletions June 30, 2023 June 30, 2023Mortgage Payable $221,167,168 $ - $24,553,869 $196,613,299 $186,991,28451 68 LAFPP ANNUAL REPORT 2024'