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AEI Income & Growth Fund XXII LTD Partnership 10-Q --12-31 15618 0 false 0001023458 Yes No Smaller Reporting Company No 2012 Q3 2012-09-30

<div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font style="font-weight: bold;">(1)</font> <font>The condensed statements included herein have been prepared by the registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results of operations for the interim period, on a basis consistent with the annual audited statements. The adjustments made to these condensed statements consist only of normal recurring adjustments. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the registrant believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and the summary of significant accounting policies and notes thereto included in the registrant’s latest annual report on Form 10-K.</font> </div><br/>

<div style="text-align: justify; font-weight: bold; font-family: Times New Roman; font-size: 12.0pt;"> <font>(2) Organization –</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>AEI Income & Growth Fund XXII Limited Partnership (“Partnership”) was formed to acquire and lease commercial properties to operating tenants. The Partnership's operations are managed by AEI Fund Management XXI, Inc. (“AFM”), the Managing General Partner. Robert P. Johnson, the President and sole director of AFM, serves as the Individual General Partner. AFM is a wholly owned subsidiary of AEI Capital Corporation of which Mr. Johnson is the majority shareholder. AEI Fund Management, Inc. (“AEI”), an affiliate of AFM, performs the administrative and operating functions for the Partnership.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>The terms of the Partnership offering called for a subscription price of $1,000 per Limited Partnership Unit, payable on acceptance of the offer. The Partnership commenced operations on May 1, 1997 when minimum subscriptions of 1,500 Limited Partnership Units ($1,500,000) were accepted. The offering terminated January 9, 1999 when the extended offering period expired. The Partnership received subscriptions for 16,917.222 Limited Partnership Units. Under the terms of the Limited Partnership Agreement, the Limited Partners and General Partners contributed funds of $16,917,222 and $1,000, respectively.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>During operations, any Net Cash Flow, as defined, which the General Partners determine to distribute will be distributed 97% to the Limited Partners and 3% to the General Partners. Distributions to Limited Partners will be made pro rata by Units.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>Any Net Proceeds of Sale, as defined, from the sale or financing of properties which the General Partners determine to distribute will, after provisions for debts and reserves, be paid in the following manner: (i) first, 99% to the Limited Partners and 1% to the General Partners until the Limited Partners receive an amount equal to: (a) their Adjusted Capital Contribution plus (b) an amount equal to 9% of their Adjusted Capital Contribution per annum, cumulative but not compounded, to the extent not previously distributed from Net Cash Flow; (ii) any remaining balance will be distributed 90% to the Limited Partners and 10% to the General Partners. Distributions to the Limited Partners will be made pro rata by Units.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>For tax purposes, profits from operations, other than profits attributable to the sale, exchange, financing, refinancing or other disposition of property, will be allocated first in the same ratio in which, and to the extent, Net Cash Flow is distributed to the Partners for such year. Any additional profits will be allocated in the same ratio as the last dollar of Net Cash Flow is distributed. Net losses from operations will be allocated 99% to the Limited Partners and 1% to the General Partners.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>For tax purposes, profits arising from the sale, financing, or other disposition of property will be allocated in accordance with the Partnership Agreement as follows: (i) first, to those partners with deficit balances in their capital accounts in an amount equal to the sum of such deficit balances; (ii) second, 99% to the Limited Partners and 1% to the General Partners until the aggregate balance in the Limited Partners' capital accounts equals the sum of the Limited Partners' Adjusted Capital Contributions plus an amount equal to 9% of their Adjusted Capital Contributions per annum, cumulative but not compounded, to the extent not previously allocated; (iii) third, the balance of any remaining gain will then be allocated 90% to the Limited Partners and 10% to the General Partners. Losses will be allocated 98% to the Limited Partners and 2% to the General Partners.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>The General Partners are not required to currently fund a deficit capital balance. Upon liquidation of the Partnership or withdrawal by a General Partner, the General Partners will contribute to the Partnership an amount equal to the lesser of the deficit balances in their capital accounts or 1% of total Limited Partners' and General Partners' capital contributions.</font> </div><br/>

1000

1500

1500000

16917.222

16917222

1000

During operations, any Net Cash Flow, as defined, which the General Partners determine to distribute will be distributed 97% to the Limited Partners and 3% to the General Partners. Distributions to Limited Partners will be made pro rata by Units. Any Net Proceeds of Sale, as defined, from the sale or financing of properties which the General Partners determine to distribute will, after provisions for debts and reserves, be paid in the following manner: (i) first, 99% to the Limited Partners and 1% to the General Partners until the Limited Partners receive an amount equal to: (a) their Adjusted Capital Contribution plus (b) an amount equal to 9% of their Adjusted Capital Contribution per annum, cumulative but not compounded, to the extent not previously distributed from Net Cash Flow; (ii) any remaining balance will be distributed 90% to the Limited Partners and 10% to the General Partners. Distributions to the Limited Partners will be made pro rata by Units.

For tax purposes, profits from operations, other than profits attributable to the sale, exchange, financing, refinancing or other disposition of property, will be allocated first in the same ratio in which, and to the extent, Net Cash Flow is distributed to the Partners for such year. Any additional profits will be allocated in the same ratio as the last dollar of Net Cash Flow is distributed. Net losses from operations will be allocated 99% to the Limited Partners and 1% to the General Partners. For tax purposes, profits arising from the sale, financing, or other disposition of property will be allocated in accordance with the Partnership Agreement as follows: (i) first, to those partners with deficit balances in their capital accounts in an amount equal to the sum of such deficit balances; (ii) second, 99% to the Limited Partners and 1% to the General Partners until the aggregate balance in the Limited Partners' capital accounts equals the sum of the Limited Partners' Adjusted Capital Contributions plus an amount equal to 9% of their Adjusted Capital Contributions per annum, cumulative but not compounded, to the extent not previously allocated; (iii) third, the balance of any remaining gain will then be allocated 90% to the Limited Partners and 10% to the General Partners. Losses will be allocated 98% to the Limited Partners and 2% to the General Partners. The General Partners are not required to currently fund a deficit capital balance. Upon liquidation of the Partnership or withdrawal by a General Partner, the General Partners will contribute to the Partnership an amount equal to the lesser of the deficit balances in their capital accounts or 1% of total Limited Partners' and General Partners' capital contributions.

<div style="text-align: justify; font-weight: bold; font-family: Times New Roman; font-size: 12.0pt;"> <font>(3) Reclassification –</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>Certain items related to discontinued operations in the prior year’s financial statements have been reclassified to conform to 2012 presentation. These reclassifications had no effect on Partners’ capital, net income or cash flows.</font> </div><br/>

<div style="text-align: justify; font-weight: bold; font-family: Times New Roman; font-size: 12.0pt;"> <font>(4) Real Estate Held for Investment –</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>On October 21, 2011, the Partnership purchased a 28% interest in a Staples store in Clermont, Florida for $897,288. The Partnership allocated $116,953 of the purchase price to Acquired Intangible Lease Assets, representing in-place lease intangibles. The Partnership incurred $18,941 of acquisition expenses related to the purchase that were expensed. The property is leased to Staples the Office Superstore East, Inc. under a Lease Agreement with a remaining primary term of 8.4 years (as of the date of purchase) and annual rent of $73,031 for the interest purchased. The remaining interest in the property was purchased by AEI Income & Growth Fund 25 LLC, an affiliate of the Partnership.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>On March 16, 2012, the Partnership purchased a 34% interest in a PetSmart store in Galveston, Texas for $824,500. The Partnership allocated $204,452 of the purchase price to Acquired Intangible Lease Assets, representing in-place lease intangibles of $121,149 and above-market lease intangibles of $83,303. The Partnership incurred $21,557 of acquisition expenses related to the purchase that were expensed. The property is leased to PetSmart, Inc. under a Lease Agreement with a remaining primary term of 10.0 years and annual rent of $65,560 for the interest purchased. The remaining interest in the property was purchased by AEI Accredited Investor Fund V LP, an affiliate of the Partnership.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>For the nine months ended September 30, 2012 and 2011, the value of in-place lease intangibles amortized to expense was $15,470 and $0, respectively, and the decrease to rental income for above-market leases was $3,471 and $0, respectively.  For lease intangibles owned as of September 30, 2012, the weighted average remaining life is 115 months, the estimated amortization expense for in-place lease intangibles is $26,010 and the estimated decrease to rental income for above-market leases is $8,330 for each of the next five succeeding years.</font> </div><br/>

2011-10-21

0.28

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8.4

73031

2012-03-16

0.34

PetSmart store in Galveston, Texas

824500

204452

121149

83303

21557

10.0

65560

15470

3471

P115M

26010

8330

<div style="text-align: justify; font-weight: bold; font-family: Times New Roman; font-size: 12.0pt;"> <font>(5) Payable to AEI Fund Management, Inc. –</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>AEI Fund Management, Inc. performs the administrative and operating functions for the Partnership. The payable to AEI Fund Management represents the balance due for those services. This balance is non-interest bearing and unsecured and is to be paid in the normal course of business.</font> </div><br/>

<div style="text-align: justify; font-weight: bold; font-family: Times New Roman; font-size: 12.0pt;"> <font>(6) Discontinued Operations –</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>In November 2010, the Partnership entered into an agreement to sell the Hollywood Video store in Minot, North Dakota to an unrelated third party. On January 14, 2011, the sale closed with the Partnership receiving net proceeds of $881,953, which resulted in a net gain of $81,953. At the time of sale, the cost and related accumulated depreciation was $1,111,393 and $311,393, respectively.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>On March 17, 2011, the Partnership sold its remaining 0.5877% interest in the Arby’s restaurant in Homewood, Alabama to an unrelated third party. The Partnership received net sale proceeds of $8,012, which resulted in a net gain of $1,781. The cost and related accumulated depreciation of the interest sold was $8,184 and $1,953, respectively.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>On January 6, 2012, the Partnership sold the KinderCare daycare center in Pearland, Texas to an unrelated third party. The Partnership received net sale proceeds of $859,968, which resulted in a net gain of $277,578. At the time of sale, the cost and related accumulated depreciation was $943,416 and $361,026, respectively. At December 31, 2011, the property was classified as Real Estate Held for Sale with a carrying value of $582,390.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>On February 3, 2012, the Partnership sold its remaining interests in the KinderCare daycare centers in Golden, Colorado, and Plainfield, Illinois to an unrelated third party. The Partnership received total net sale proceeds of $26,200, which resulted in a net gain of $1,073. The cost and related accumulated depreciation of the interests sold was $38,173 and $13,046, respectively.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>On May 10, 2012, the Partnership sold its remaining 0.8729% interest in the TGI Friday’s restaurant in Greensburg, Pennsylvania to an unrelated third party. The Partnership received net sale proceeds of $7,561, which resulted in a net loss of $2,257. The cost and related accumulated depreciation of the interest sold was $14,580 and $4,762, respectively.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>The Partnership is attempting to sell its 40% interest in the Jared Jewelry store in Sugarland, Texas. At September 30, 2012, the property was classified as Real Estate Held for Sale with a carrying value of $1,195,742.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>During the first nine months of 2012 and 2011, the Partnership distributed net sale proceeds of $60,606 and $70,707 to the Limited and General Partners as part of their quarterly distributions, which represented a return of capital of $3.84 and $4.45 per Limited Partnership Unit, respectively. The Partnership anticipates the remaining net sale proceeds will either be reinvested in additional property or distributed to the Partners in the future.</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>The financial results for these properties are reflected as Discontinued Operations in the accompanying financial statements. The following are the results of discontinued operations:</font> </div><br/><table style="border-spacing: 0px; border-collapse: collapse; margin: auto; width: 479.5pt; font-family: Times New Roman; font-size: 12.0pt;"> <tr> <td style="width: 226.8pt;">   </td> <td style="width: 7.2pt;">   </td> <td colspan="3" style="width: 117.35pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">Three Months Ended September 30</font> </div> </td> <td style="width: 10.8pt;">   </td> <td colspan="3" style="width: 117.35pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">Nine Months Ended September 30</font> </div> </td> </tr> <tr> <td>   </td> <td>   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2012</font> </div> </td> <td>   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2011</font> </div> </td> <td style="width: 10.8pt;">   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2012</font> </div> </td> <td style="width: 9.35pt;">   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2011</font> </div> </td> </tr> <tr> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> </tr> <tr> <td> <div> <font>Rental Income</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">35,178</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">62,005</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">108,346</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">182,318</font> </div> </td> </tr> <tr> <td> <div> <font>Property Management Expenses</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(238)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(474)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(644)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(3,331)</font> </div> </td> </tr> <tr> <td> <div> <font>Depreciation</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(10,301)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(18,066)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(31,023)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(54,227)</font> </div> </td> </tr> <tr> <td> <div> <font>Gain on Disposal of Real Estate</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">0</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">0</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">276,394</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">83,734</font> </div> </td> </tr> <tr> <td> <div> <font>Income from Discontinued Operations</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">24,639</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">43,465</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">353,073</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">208,494</font> </div> </td> </tr> </table><br/>

881953

81953

1111393

311393

8012

1781

8184

1953

859968

277578

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361026

582390

26200

1073

38173

13046

7561

2257

14580

4762

1195742

60606 70707 3.84 4.45

Discontinued Operations<br /><table style="border-spacing: 0px; border-collapse: collapse; margin: auto; width: 479.5pt; font-family: Times New Roman; font-size: 12.0pt;"> <tr> <td style="width: 226.8pt;">   </td> <td style="width: 7.2pt;">   </td> <td colspan="3" style="width: 117.35pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">Three Months Ended September 30</font> </div> </td> <td style="width: 10.8pt;">   </td> <td colspan="3" style="width: 117.35pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">Nine Months Ended September 30</font> </div> </td> </tr> <tr> <td>   </td> <td>   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2012</font> </div> </td> <td>   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2011</font> </div> </td> <td style="width: 10.8pt;">   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2012</font> </div> </td> <td style="width: 9.35pt;">   </td> <td style="width: 54.0pt;"> <div style="border-bottom: 1pt solid black; text-align: center;"> <font style="font-size: 11.0pt; font-weight: bold;">2011</font> </div> </td> </tr> <tr> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> <td>   </td> </tr> <tr> <td> <div> <font>Rental Income</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">35,178</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">62,005</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">108,346</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">182,318</font> </div> </td> </tr> <tr> <td> <div> <font>Property Management Expenses</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(238)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(474)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(644)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(3,331)</font> </div> </td> </tr> <tr> <td> <div> <font>Depreciation</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(10,301)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(18,066)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(31,023)</font> </div> </td> <td>   </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">(54,227)</font> </div> </td> </tr> <tr> <td> <div> <font>Gain on Disposal of Real Estate</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">0</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">0</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">276,394</font> </div> </td> <td>   </td> <td> <div style="border-bottom: 1pt solid black; text-align: right;"> <font style="font-size: 11.0pt;">83,734</font> </div> </td> </tr> <tr> <td> <div> <font>Income from Discontinued Operations</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">24,639</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">43,465</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">353,073</font> </div> </td> <td> <div style="text-align: right;"> <font style="font-size: 11.0pt;">$</font> </div> </td> <td> <div style="border-bottom: 2pt double black; text-align: right;"> <font style="font-size: 11.0pt;">208,494</font> </div> </td> </tr> </table>

35178

62005

108346

182318

238

474

644

3331

10301

18066

31023

54227

276394

83734

<div style="text-align: justify; font-weight: bold; font-family: Times New Roman; font-size: 12.0pt;"> <font>(7) Fair Value Measurements –</font> </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 12.0pt;"> <font>As of September 30, 2012, the Partnership had no assets or liabilities measured at fair value on a recurring basis or nonrecurring basis.</font> </div><br/>