Report Preview Details

0000947986-13-000133.txt : 20130515 0000947986-13-000133.hdr.sgml : 20130515 20130514174234 ACCESSION NUMBER: 0000947986-13-000133 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20130331 FILED AS OF DATE: 20130515 DATE AS OF CHANGE: 20130514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ICON ECI FUND FIFTEEN, L.P. CENTRAL INDEX KEY: 0001502519 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 273525849 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54604 FILM NUMBER: 13842961 BUSINESS ADDRESS: STREET 1: 3 PARK AVE, 36TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10016 BUSINESS PHONE: 2124184700 MAIL ADDRESS: STREET 1: 3 PARK AVE, 36TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10016 10-Q 1 body.htm FIRST QUARTER 2013 FINANCIALS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

[x] QUARTERTLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended	March 31, 2013
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from				to

Commission File Number:	000-54604

ICON ECI Fund Fifteen, L.P.
(Exact name of registrant as specified in its charter)

Delaware			27-3525849
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

3 Park Avenue, 36^th Floor
New York, New York			10016
(Address of principal executive offices)			(Zip Code)
(212) 418-4700
(Registrant’s telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes þ No 
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes þ No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer 		Accelerated filer 
Non-accelerated filer þ (Do not check if a smaller reporting company)		Smaller reporting company 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes  No þ
Number of outstanding limited partnership interests of the registrant on May 9, 2013 is 184,881.

ICON ECI Fund Fifteen, L.P.

Table of Contents

	Page
PART I – FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements
Consolidated Balance Sheets Consolidated Statements of Operations Consolidated Statement of Changes in Equity Consolidated Statements of Cash Flows Notes to Consolidated Financial Statements	1 2 3 4 6
Item 2. General Partner’s Discussion and Analysis of Financial Condition and Results of Operations	13
Item 3. Quantitative and Qualitative Disclosures About Market Risk	20
Item 4. Controls and Procedures	20
PART II – OTHER INFORMATION
Item 1. Legal Proceedings	21
Item 1A. Risk Factors	21
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	21
Item 3. Defaults Upon Senior Securities	21
Item 4. Mine Safety Disclosures	21
Item 5. Other Information	21
Item 6. Exhibits	22
Signatures	23

PART 1 - FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

ICON ECI Fund Fifteen, L.P.
(A Delaware Limited Partnership)
Consolidated Balance Sheets


				March 31,		December 31,
				2013		2012
				(unaudited)
Assets
	Cash			$	44,332,819	$	37,990,933
	Net investment in notes receivable				50,484,880		43,136,956
	Leased equipment at cost (less accumulated depreciation of
		$4,721,594 and $2,167,417, respectively)			108,405,895		98,872,792
	Net investment in finance leases				24,523,914		25,126,700
	Deferred charges				412,892		832,164
	Other assets				2,880,304		2,314,802
Total assets				$	231,040,704	$	208,274,347
Liabilities and Equity
Liabilities:
	Non-recourse long-term debt			$	67,520,833	$	69,250,000
	Due to General Partner and affiliates, net				3,067,224		3,041,918
	Accrued expenses and other liabilities				8,819,134		6,059,960
		Total liabilities			79,407,191		78,351,878

Commitments and contingencies (Note 10)

Equity:
	Partners' equity:
		Limited partners			141,403,648		123,633,993
		General Partner			(127,578)		(106,892)
			Total partners' equity		141,276,070		123,527,101
	Noncontrolling interests				10,357,443		6,395,368
			Total equity		151,633,513		129,922,469
Total liabilities and equity				$	231,040,704	$	208,274,347

See accompanying notes to consolidated financial statements.

ICON ECI Fund Fifteen, L.P.
(A Delaware Limited Partnership)
Consolidated Statements of Operations
(unaudited)

			Three Months Ended March, 31
			2013		2012
Revenue:
	Finance income		$	2,034,976	$	705,195
	Rental income			4,264,395		-
	Other income			13,262		3,769
		Total revenue		6,312,633		708,964

Expenses:
	Management fees			209,491		26,817
	Administrative expense reimbursements			969,695		419,085
	General and administrative			304,465		232,801
	Interest			1,028,124		188,093
	Depreciation			2,554,177		-
		Total expenses		5,065,952		866,796
Net income (loss)				1,246,681		(157,832)
	Less: net income (loss) attributable to noncontrolling interests			236,391		(143,063)
Net income (loss) attributable to Fund Fifteen			$	1,010,290	$	(14,769)

Net income (loss) attributable to Fund Fifteen allocable to:
	Limited partners		$	1,000,187	$	(14,621)
	General Partner			10,103		(148)
			$	1,010,290	$	(14,769)

Weighted average number of limited partnership interests outstanding				162,992		52,155

Net income (loss) attributable to Fund Fifteen per weighted average limited partnership
	interest outstanding		$	6.14	$	(0.28)

See accompanying notes to consolidated financial statements.

ICON ECI Fund Fifteen, L.P.
(A Delaware Limited Partnership)
Consolidated Statement of Changes in Equity

			Partners' Equity
			Limited						Total
			Partnership		Limited		General		Partners'		Noncontrolling		Total
			Interests		Partners		Partner		Equity		Interests		Equity
Balance, December 31, 2012			150,972	$	123,633,993	$	(106,892)	$	123,527,101	$	6,395,368	$	129,922,469

	Net income		-		1,000,187		10,103		1,010,290		236,391		1,246,681
	Proceeds from sale of limited
		partnership interests	22,643		22,464,607		-		22,464,607		-		22,464,607
	Sales and offering expenses		-		(2,647,053)		-		(2,647,053)		-		(2,647,053)
	Cash distributions		-		(3,048,086)		(30,789)		(3,078,875)		(176,796)		(3,255,671)
	Investment by noncontrolling interests		-		-		-		-		3,902,480		3,902,480
Balance, March 31, 2013 (unaudited)			173,615	$	141,403,648	$	(127,578)	$	141,276,070	$	10,357,443	$	151,633,513

See accompanying notes to consolidated financial statements.

ICON ECI Fund Fifteen, L.P.
(A Delaware Limited Partnership)
Consolidated Statements of Cash Flows
(unaudited)
				Three Months Ended March 31,
				2013		2012
Cash flows from operating activities:
	Net income (loss)			$	1,246,681	$	(157,832)
	Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
		Finance income			172,974		64,090
		Depreciation			2,554,177		-
		Interest expense from amortization of debt financing costs			56,921		2,478
		Interest expense from amortization of seller's credit			69,801		-
		Paid-in-kind interest			54,470		-
		Changes in operating assets and liabilities:
			Other assets		(658,325)		9,871
			Deferred revenue		124,448		22,400
			Due to General Partner and affiliates, net		(61,188)		(128,825)
			Accrued expenses and other liabilities		2,611,719		(225,517)
Net cash provided by (used in) operating activities					6,171,678		(413,335)
Cash flows from investing activities:
	Purchase of equipment				(12,087,280)		-
	Principal received on finance leases				574,539		105,222
	Investment in notes receivable				(7,726,224)		(14,560,686)
	Principal received on notes receivable				222,681		60,417
Net cash used in investing activities					(19,016,284)		(14,395,047)
Cash flows from financing activities:
	Repayment of non-recourse long-term debt				(1,729,167)		-
	Sale of limited partnership interests				22,464,607		37,118,509
	Sales and offering expenses paid				(2,085,757)		(3,617,390)
	Deferred charges paid				(110,000)		(204,151)
	Investment by noncontrolling interests				3,902,480		117,500
	Distributions to noncontrolling interests				(176,796)		-
	Cash distributions to partners				(3,078,875)		(809,550)
Net cash provided by financing activities					19,186,492		32,604,918
Net increase in cash					6,341,886		17,796,536
Cash, beginning of period					37,990,933		5,383,978
Cash, end of period				$	44,332,819	$	23,180,514

See accompanying notes to consolidated financial statements.

ICON ECI Fund Fifteen, L.P.
(A Delaware Limited Partnership)
Consolidated Statements of Cash Flows
(unaudited)

		Three Months Ended March 31,
		2013		2012
Supplemental disclosure of cash flow information:

	Cash paid for interest	$	799,426	$	-

Supplemental disclosure of non-cash investing and financing activities:

	Organizational and offering expenses due to Investment Manager	$	32,025	$	1,951
	Organizational and offering expenses charged to equity	$	561,296	$	241,922
	Dealer-manager fees due to ICON Securities	$	-	$	31,889

See accompanying notes to consolidated financial statements

ICON ECI Fund Fifteen, L.P.

(A Delaware Limited Partnership)

Notes to Consolidated Financial Statements

March 31, 2013

(unaudited)

(1) Organization

ICON ECI Fund Fifteen, L.P. (the “Partnership”) was formed on September 23, 2010 as a Delaware limited partnership. The initial capitalization of the Partnership was $1,001. The Partnership will continue until December 31, 2025, unless terminated sooner. The Partnership is offering limited partnership interests (“Interests”) on a “best efforts” basis with the intention of raising up to $418,000,000 of capital, consisting of 420,000 Interests, of which 20,000 have been reserved for the Partnership’s distribution reinvestment plan (the “DRIP Plan”). The DRIP Plan allows limited partners to purchase Interests with distributions received from the Partnership and/or certain affiliates of the Partnership.

At any time prior to the time that the offering of Interests is terminated, the Partnership may, at its sole discretion, increase the offering to a maximum of up to $618,000,000 of capital, consisting of 620,000 Interests; provided, however, that the offering period may not be extended in connection with such change. The Partnership is currently in its offering period, which commenced on June 6, 2011 and is anticipated to end no later than June 6, 2013.

With the proceeds from Interests sold, the Partnership will (i) primarily originate or acquire a diverse pool of investments in domestic and global companies, which investments will primarily be structured as debt and debt-like financings (such as loans and leases) that are collateralized by equipment and other corporate infrastructure (collectively, “Capital Assets”) utilized by such companies to operate their businesses, as well as other strategic investments in or collateralized by Capital Assets that ICON GP 15, LLC, a Delaware limited liability company and the general partner of the Partnership (the “General Partner”), believes will provide the Partnership with a satisfactory, risk-adjusted rate of return, (ii) pay fees and expenses, and (iii) establish a cash reserve. The General Partner will make investment decisions on behalf of and manage the business of the Partnership. Additionally, the General Partner has a 1% interest in the profits, losses, cash distributions and liquidation proceeds of the Partnership.

As of July 28, 2011 (the “Initial Closing Date”), the Partnership raised a minimum of $1,200,000 from the sale of Interests, at which time the Partnership commenced operations. Upon the commencement of operations on the Initial Closing Date, the Partnership returned the initial capital contribution of $1,000 to ICON Capital, LLC, a Delaware limited liability company formerly known as ICON Capital Corp. and the investment manager of the Partnership (the “Investment Manager”). From the commencement of the Partnership’s offering on June 6, 2011 through March 31, 2013, the Partnership sold 173,615 Interests to 4,148 limited partners, representing $172,906,128 of capital contributions. Investors from the Commonwealth of Pennsylvania and the State of Tennessee were not admitted until the Partnership raised total equity in the amount of $20,000,000, which the Partnership achieved on November 17, 2011. During the period from the Initial Closing Date through March 31, 2013, the Partnership paid or accrued the following commissions and fees in connection with its offering of Interests: (i) sales commissions to third parties in the amount of $11,583,799 and (ii) dealer-manager fees in the amount of $5,071,428 to ICON Securities, LLC, formerly known as ICON Securities Corp., an affiliate of the General Partner and the dealer-manager of the offering of the Interests (“ICON Securities”). In addition, during such period, the General Partner and its affiliates, on behalf of the Partnership, incurred organizational and offering expenses in the amount of $2,629,880. From the Initial Closing Date through March 31, 2013, organizational and offering expenses in the amount of $2,216,988 were recorded as a reduction of partners’ equity.

Partners’ capital accounts are increased for their initial capital contribution plus their proportionate share of earnings and decreased by their proportionate share of losses and distributions. Profits, losses, cash distributions and liquidation proceeds are allocated 99% to the limited partners and 1% to the General Partner until the aggregate amount of cash distributions paid to limited partners equals the sum of the limited partners’ aggregate capital contributions, plus an 8% cumulative annual return on their aggregate unreturned capital contributions, compounded daily. After such time, distributions will be allocated 90% to the limited partners and 10% to the General Partner.

(2) Summary of Significant Accounting Policies

Basis of Presentation and Consolidation

The accompanying consolidated financial statements of the Partnership have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission for Quarterly Reports on Form 10-Q. In the opinion of the General Partner, all

ICON ECI Fund Fifteen, L.P.

(A Delaware Limited Partnership)

Notes to Consolidated Financial Statements

March 31, 2013

(unaudited)

adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included. These consolidated financial statements should be read together with the consolidated financial statements and notes included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2012. The results for the interim period are not necessarily indicative of the results for the full year.

Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve

The Investment Manager weighs all credit decisions based on a combination of external credit ratings as well as internal credit evaluations of all borrowers. A borrower’s credit is analyzed using those credit ratings as well as the borrower’s financial statements and other financial data deemed relevant.

As the Partnership’s financing receivables, generally finance leases and notes receivable, are limited in number, the Investment Manager is able to estimate the credit loss reserve based on a detailed analysis of each financing receivable as opposed to using portfolio-based metrics and credit loss reserve. Financing receivables are analyzed quarterly and categorized as either performing or non-performing based on payment history. If a financing receivable becomes non-performing due to a borrower’s missed scheduled payments or failed financial covenants, the Investment Manager analyzes whether a credit loss reserve should be established or whether the financing receivable should be restructured. Material events would be specifically disclosed in the discussion of each financing receivable held.

Notes receivable are generally placed in a non-accrual status when payments are more than 90 days past due. Additionally, the Investment Manager periodically reviews the creditworthiness of companies with payments outstanding less than 90 days and based upon the Investment Manager’s judgment, these accounts may be placed in a non-accrual status.

In accordance with the cost recovery method, payments received on non-accrual loans are applied to principal if there is doubt regarding the ultimate collectability of principal. If collection of the principal of non-accrual loans is not in doubt, interest income is recognized on a cash basis. Loans in non-accrual status may not be restored to accrual status until all delinquent payments have been received, and the Partnership believes recovery of the remaining unpaid receivable is probable.

The Partnership charges off a loan in the period that it is deemed uncollectible and records a reduction in the allowance for loan losses and the balance of the loan.

(3) Net Investment in Notes Receivable

Net investment in notes receivable consisted of the following:

	March 31,		December 31,
	2013		2012
Principal outstanding	$	49,516,251	$	42,538,932
Initial direct costs		3,710,533		3,282,650
Deferred fees		(781,904)		(724,626)
Credit loss reserve		(1,960,000)		(1,960,000)
Net investment in notes receivable	$	50,484,880	$	43,136,956

On March 9, 2012, the Partnership made a term loan in the amount of $5,000,000 to Kanza Construction, Inc. The loan bears interest at 13% per year and is for a period of 60 months. The loan is secured by all of Kanza’s assets. As a result of Kanza’s unexpected financial hardship and failure to meet certain payment obligations, the loan was placed on non-accrual status and the Partnership recorded a credit loss reserve of $1,960,000 during the year ended December 31, 2012 based on the estimated value of the recoverable collateral. During the three months ended March 31, 2013, Kanza sold a portion of its assets and remitted the proceeds of approximately $28,000 to the Partnership, reducing the outstanding estimated recoverable balance of the loan at March 31, 2013 to approximately $487,000. No finance income was recognized on the impaired loan during the

ICON ECI Fund Fifteen, L.P.

(A Delaware Limited Partnership)

Notes to Consolidated Financial Statements

March 31, 2013

(unaudited)

three months ended March 31, 2013. Subsequent to March 31, 2013, Kanza sold the additional collateral and used the proceeds to substantially satisfy the $487,000 balance. The Partnership continues to pursue all legal remedies to obtain payment of the remaining $1,960,000.

On March 1, 2013, the Partnership made a secured term loan in the amount of $7,200,000 to Heniff Transportation Systems, LLC and Heniff TTL, LLC (collectively, “Heniff”). The loan bears interest at 12.25% per year and is for a period of 42 months. The loan is secured by, among other things, a second priority security interest in Heniff’s assets, including tractors and stainless steel tank trailers.

(4) Leased Equipment at Cost

Leased equipment at cost consisted of the following:

	March 31,		December 31,
	2013		2012
Marine vessels	$	81,651,931	$	81,651,931
Mining equipment		19,388,278		19,388,278
Oilfield services equipment		12,087,280		-
Leased equipment at cost		113,127,489		101,040,209
Less: accumulated depreciation		4,721,594		2,167,417
Leased equipment at cost, less accumulated depreciation	$	108,405,895	$	98,872,792

On February 15, 2013, the Partnership, through a joint venture owned 58% by the Partnership, 38% by ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P. (“Fund Fourteen”) and 4% by ICON ECI Partners L.P. (“ECI Partners”), entities also managed by the Investment Manager, purchased onshore oil field services equipment from Go Frac, LLC for approximately $11,804,000. Simultaneously, the equipment was leased back to Go Frac for a period of 45 months, expiring on November 30, 2016.

Depreciation expense was $2,554,177 for the three months ended March 31, 2013. The Partnership did not have any operating leases during the three months ended March 31, 2012.

(5) Net Investment in Finance Leases

Net investment in finance leases consisted of the following:

	March 31,		December 31,
	2013		2012
Minimum rents receivable	$	36,889,425	$	38,214,311
Estimated residual values		328,192		328,192
Initial direct costs		561,450		589,698
Unearned income		(13,255,153)		(14,005,501)
Net investment in finance leases	$	24,523,914	$	25,126,700

ICON ECI Fund Fifteen, L.P.

(A Delaware Limited Partnership)

Notes to Consolidated Financial Statements

March 31, 2013

(unaudited)

(6) Non-Recourse Long-Term Debt

As of March 31, 2013 and December 31, 2012, the Partnership had $67,520,833 and $69,250,000 of non-recourse long-term debt, respectively, with maturity dates ranging from June 4, 2019 to December 31, 2020, and interest rates ranging from 4.6% to 4.997% per year.

At March 31, 2013, the Partnership was in compliance with all covenants related to non-recourse long-term debt.

(7) Revolving Line of Credit, Recourse

On May 10, 2011, the Partnership entered into an agreement with California Bank & Trust (“CB&T”) for a revolving line of credit of up to $5,000,000 (the “Facility”), which is secured by all of the Partnership’s assets not subject to a first priority lien. Amounts available under the Facility are subject to a borrowing base that is determined, subject to certain limitations, based on the present value of the future receivables under certain loans and lease agreements in which the Partnership has a beneficial interest.

The Facility has been extended through March 31, 2015 and increased to $10,000,000. The interest rate for general advances under the Facility is CB&T’s prime rate. The Partnership may elect to designate up to five advances on the outstanding principal balance of the Facility to bear interest at the London Interbank Offered Rate (“LIBOR”) plus 2.5% per year. In all instances, borrowings under the Facility are subject to an interest rate floor of 4.0% per year. In addition, the Partnership is obligated to pay an annualized 0.5% fee on unused commitments under the Facility. At March 31, 2013, there were no obligations outstanding under the Facility and the Partnership had $10,000,000 available under the Facility pursuant to the borrowing base.

At March 31, 2013, the Partnership was in compliance with all covenants related to the Facility.

(8) Transactions with Related Parties

The Partnership paid distributions to the General Partner of $30,789 and $8,095 for the three months ended March 31, 2013 and 2012, respectively. Additionally, the General Partner’s interest in the net income (loss) attributable to the Partnership was $10,103 and $(148) for the three months ended March 31, 2013 and 2012, respectively.

Fees and other expenses paid or accrued by the Partnership to the General Partner or its affiliates were as follows:

				Three Months Ended March 31,
Entity	Capacity	Description		2013		2012
		Organizational and offering
ICON Capital, LLC	Investment Manager		expense reimbursements⁽¹⁾	$	142,024	$	202,200
ICON Securities, LLC	Dealer-Manager	Dealer-manager fees⁽²⁾			642,252		1,102,522
ICON Capital, LLC	Investment Manager	Acquisition fees⁽³⁾			1,290,123		658,377
ICON Capital, LLC	Investment Manager	Management fees⁽⁴⁾			209,491		26,817
		Administrative expense
ICON Capital, LLC	Investment Manager		reimbursements⁽⁴⁾		969,695		419,085
Fund Fourteen	Noncontrolling Interest	Interest expense⁽⁴⁾			95,279		119,000
				$	3,348,864	$	2,528,001

(1) Amount capitalized and amortized to partners' equity.

(2) Amount charged directly to partners' equity.

(3) Amount capitalized and amortized to operations.

(4) Amount charged directly to operations.

ICON ECI Fund Fifteen, L.P.

(A Delaware Limited Partnership)

Notes to Consolidated Financial Statements

March 31, 2013

(unaudited)

At March 31, 2013, the Partnership had a net payable of $3,067,224 due to the General Partner and its affiliates that primarily consisted of a payable of approximately $2,497,000 due to Fund Fourteen related to its noncontrolling interest in the Lewek Ambassador, an acquisition fee payable to the Partnership’s Investment Manager and administrative expense reimbursements. At December 31, 2012, the Partnership had a net payable of $3,041,918 due to the General Partner and its affiliates that primarily consisted of a payable of approximately $2,442,000 due to Fund Fourteen related to its noncontrolling interest in the Lewek Ambassador and administrative expense reimbursements.

From April 1, 2013 through May 9, 2013, the Partnership raised an additional $11,144,933 in capital contributions and paid or accrued dealer-manager fees to ICON Securities in the amount of $309,677.

(9) Fair Value Measurements

Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories:

· Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

· Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

· Level 3: Pricing inputs that are generally unobservable and cannot be corroborated by market data.

Assets and Liabilities for which Fair Value is Disclosed

Certain of the Partnership’s financial assets and liabilities, which include fixed-rate notes receivable, fixed-rate non-recourse long-term debt and a seller’s credit, in which fair value is required to be disclosed, were valued using inputs that are generally unobservable and cannot be corroborated by market data and are therefore classified within Level 3. As permitted by the accounting pronouncements, the Partnership uses projected cash flows for fair value measurements of these financial assets and liabilities. Fair value information with respect to certain of the Partnership’s other assets and liabilities is not separately provided since (i) the current accounting pronouncements do not require fair value disclosures of lease arrangements and (ii) the carrying value of financial assets, other than lease-related investments, and the recorded value of recourse debt approximate fair value due to their short-term maturities and variable interest rates.

The estimated fair value of the Partnership’s fixed-rate notes receivable, fixed-rate non-recourse long-term debt and seller’s credit was based on the discounted value of future cash flows related to the loans based on recent transactions of this type. Principal outstanding on fixed-rate notes receivable was discounted at rates ranging between 12.25% and 17.0% per year. Principal outstanding on fixed-rate non-recourse long-term debt and the seller’s credit was discounted at a rate of 4.60% per year.

	March 31, 2013
		Carrying	Fair Value
		Amount	(Level 3)
Principal outstanding on fixed-rate notes receivable	$	47,556,251	$	47,936,951

Principal outstanding on fixed-rate non-recourse long-term debt	$	67,520,833	$	68,882,732

Seller's credit	$	5,752,441	$	5,752,441

(10) Commitments and Contingencies

At the time the Partnership acquires or divests of its interest in Capital Assets, the Partnership may, under very limited circumstances, agree to indemnify the seller or buyer for specific contingent liabilities. The General Partner believes that any

ICON ECI Fund Fifteen, L.P.

(A Delaware Limited Partnership)

Notes to Consolidated Financial Statements

March 31, 2013

(unaudited)

liability of the Partnership that may arise as a result of any such indemnification obligations will not have a material adverse effect on the consolidated financial condition or results of operations of the Partnership taken as a whole.

In connection with certain investments, the Partnership is required to maintain restricted cash balances with certain banks. Restricted cash of approximately $625,000 and $500,000 is presented within other assets in the Partnership’s consolidated balance sheets at March 31, 2013 and December 31, 2012, respectively.

The Partnership has entered into a remarketing agreement with a third party. Residual proceeds received in excess of specific amounts will be shared with this third party in accordance with the terms of the remarketing agreement. The present value of the obligation related to this agreement at March 31, 2013 and December 31, 2012 was approximately $112,000 and $108,000, respectively.

ICON ECI Fund Fifteen, L.P.

(A Delaware Limited Partnership)

Notes to Consolidated Financial Statements

March 31, 2013

(unaudited)

(11) Subsequent Events

On April 2, 2013, the Partnership, through two joint ventures owned 55% by the Partnership and 45% by Fund Fourteen, purchased two chemical tanker vessels, the Ardmore Capella and Ardmore Calypso, from wholly-owned subsidiaries of Ardmore Shipholding Limited (“Ardmore”). Simultaneously, the vessels were bareboat chartered back to Ardmore for a period of five years. The purchase price for the vessels was funded by $8,850,000 in cash, $22,750,000 of financing through non-recourse long-term debt and $5,500,000 of financing through two subordinated, non-interest-bearing seller’s credits.

On April 5, 2013, the Partnership made a secured term loan in the amount of $13,500,000 to Lubricating Specialties Company (“LSC”). The loan bears interest at 13.5% per year and matures on August 1, 2018. The loan is secured by, among other things, a second priority security interest in and lien on LSC’s liquid storage tanks, blending lines, packaging equipment, accounts receivable and inventory.

Item 2. General Partner's Discussion and Analysis of Financial Condition and Results of Operations

The following is a discussion of our current financial position and results of operations. This discussion should be read together with our unaudited consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q and the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2012. This discussion should also be read in conjunction with the disclosures below regarding “Forward-Looking Statements” and the “Risk Factors” set forth in Item 1A of Part II of this Quarterly Report on Form 10-Q.

As used in this Quarterly Report on Form 10-Q, references to “we,” “us,” “our” or similar terms include ICON ECI Fund Fifteen, L.P. and its consolidated subsidiaries.

Forward-Looking Statements

Certain statements within this Quarterly Report on Form 10-Q may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). These statements are being made pursuant to the PSLRA, with the intention of obtaining the benefits of the “safe harbor” provisions of the PSLRA, and, other than as required by law, we assume no obligation to update or supplement such statements. Forward-looking statements are those that do not relate solely to historical fact. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. You can identify these statements by the use of words such as “may,” “would,” “could,” “anticipate,” “believe,” “estimate,” “expect,” “continue,” “further,” “plan,” “seek,” “intend,” “predict” or “project” and variations of these words or comparable words or phrases of similar meaning. These forward-looking statements reflect our current beliefs and expectations with respect to future events. They are based on assumptions and are subject to risks and uncertainties and other factors outside our control that may cause actual results to differ materially from those projected. We undertake no obligation to update publicly or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Overview

We are a direct financing fund that will primarily make investments in domestic and global companies, which investments will primarily be structured as debt and debt-like financings (such as loans and leases) that are collateralized by Capital Assets utilized by such companies to operate their businesses, as well as other strategic investments in or collateralized by Capital Assets that our General Partner believes will provide us with a satisfactory, risk-adjusted rate of return. We were formed as a Delaware limited partnership and have elected to be treated as a partnership for federal income tax purposes. As of the Initial Closing Date, we raised a minimum of $1,200,000 from the sale of our Interests, at which time we commenced operations. Subsequent to the Initial Closing Date, we returned the initial capital contribution of $1,000 to the Investment Manager. From the commencement of our offering on June 6, 2011 through March 31, 2013, we sold 173,615 Interests to 4,148 limited partners, representing $172,906,128 of capital contributions. Investors from the Commonwealth of Pennsylvania and the State of Tennessee were not admitted until we raised total equity in the amount of $20,000,000, which we achieved on November 17, 2011. During the period from June 6, 2011 through May 9, 2013, we raised $184,051,061 in total equity, and will continue to raise equity until our offering period ends on or before June 6, 2013.

After the net offering proceeds have been invested, it is anticipated that additional investments will be made with the cash generated from our initial investments to the extent that cash is not used for our expenses, reserves and distributions to our partners. The investment in additional Capital Assets in this manner is called “reinvestment.” We anticipate investing and reinvesting in Capital Assets from time to time for five years from the date we complete the offering. This time frame is called the “operating period” and may be extended, at our General Partner’s discretion, for up to an additional three years. After the operating period, we will then sell our assets and/or let our investments mature in the ordinary course of business, during a time frame called the “liquidation period.”

We will seek to generate returns in three ways. We will:

· seek to generate current cash flow from payments of principal and/or interest (in the case of secured loans and other financing transactions) and rental payments (in the case of leases);

· seek to generate deferred cash flow by realizing the value of certain Capital Assets or interests therein at the maturity of the investment; and

· seek to generate a combination of both current and deferred cash flow from other structured investments.

In the case of secured loans and other financing transactions, the principal and interest payments due under the loan are expected to provide a return of and a return on the amount we lend. In the case of leases where there is significant current cash flow generated during the primary term of the lease and the value of the Capital Assets at the end of the term will be minimal or is not considered a primary reason for making the investment, the rental payments due under the lease are expected to be, in the aggregate, sufficient to provide a return of and a return on our investment.

In the case of investments in leased Capital Assets that decline in value at a slow rate due to the long economic life of such Capital Assets, we expect that we will generate sufficient net proceeds at the end of the investment from the sale or re-lease of such Capital Assets. In the case of operating leases, we expect most, if not all, of the return of and the return on such investments to be realized upon the sale or re-lease of the Capital Assets. For leveraged leases, we expect the rental income we receive to be less than the purchase price of the Capital Assets because we will structure these transactions to utilize some or all of the lease rental payments to reduce the amount of non-recourse indebtedness used to acquire such assets.

In some cases with respect to the above investments, we may acquire equity interests, as well as warrants or other rights to acquire equity interests, in the borrower or lessee that may increase the expected return on our investment.

Our General Partner manages and controls our business affairs, including, but not limited to, our investments in Capital Assets, under the terms of our limited partnership agreement. Our Investment Manager, an affiliate of our General Partner, will originate and service our investments. Our Investment Manager manages or is the investment manager or managing trustee for seven other public equipment funds.

Recent Significant Transactions

We engaged in the following significant transactions since December 31, 2012:

Notes Receivable

· On March 1, 2013, we made a secured term loan in the amount of $7,200,000 to Heniff as part of a $12,000,000 secured term loan facility. The loan bears interest at 12.25% per year and is for a period of 42 months. The loan is secured by, among other things, a second priority security interest in Heniff’s assets, including tractors and stainless steel tank trailers, which were valued at approximately $44,810,000, subject to the satisfaction of the senior secured interest secured by the same assets.

Oil Field Services Equipment

· On February 15, 2013, we, through a joint venture owned 58% by us, 38% by Fund Fourteen and 4% by ECI Partners, purchased onshore oil field services equipment from Go Frac for approximately $11,804,000. Simultaneously, the equipment was leased back to Go Frac for a period of 45 months, expiring on November 30, 2016.

Acquisition Fees

· We paid or accrued total acquisition fees to our Investment Manager of approximately $1,290,000 during the three months ended March 31, 2013.

Subsequent Events

· On April 2, 2013, we, through two joint ventures owned 55% by us and 45% by Fund Fourteen, purchased two chemical tanker vessels, the Ardmore Capella and Ardmore Calypso, from wholly-owned subsidiaries of Ardmore. Simultaneously, the vessels were bareboat chartered back to Ardmore for a period of five years. The purchase price for the vessels was funded by $8,850,000 in cash, $22,750,000 of financing through non-recourse long-term debt and $5,500,000 of financing through two subordinated, non-interest-bearing seller’s credits.

· On April 5, 2013, we made a secured term loan in the amount of $13,500,000 to LSC as part of an $18,000,000 facility. The loan bears interest at 13.5% per year and matures on August 1, 2018. The loan is secured by, among other things, a second priority security interest in and lien on LSC’s liquid storage tanks, blending lines, packaging equipment, accounts receivable and inventory, which were valued in the aggregate at approximately $52,030,000.

Recent Accounting Pronouncements

We do not believe any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on our consolidated financial statements.

Results of Operations for the Three Months Ended March 31, 2013 (the “2013 Quarter”) and 2012 (the “2012 Quarter”)

We are currently in our offering period and are in the process of raising capital and making investments in Capital Assets. We will invest in Capital Assets with the net proceeds from our offering. After the close of the offering period, we will enter our operating period. During our operating period, we will continue to make investments with the cash generated from our initial investments to the extent that the cash is not used for expenses, reserves and distributions to limited partners. As our investments mature, we may reinvest the proceeds in additional investments in Capital Assets. We anticipate incurring gains or losses on our investments during our operating period. Additionally, we expect to see our rental income and finance income increase, as well as the increase of related expenses, such as depreciation and amortization expense and interest expense. We anticipate that the fees we pay our Investment Manager to manage our investment portfolio will increase during this period as the value of, and volume of activity in, our investment portfolio increases.

Financing Transactions

The following tables set forth the types of assets securing the financing transactions in our portfolio:

	March 31, 2013			December 31, 2012
		Net	Percentage of		Net	Percentage of
		Carrying	Total Net		Carrying	Total Net
Asset Type		Value	Carrying Value		Value	Carrying Value
Platform supply vessel	$	23,507,304	31%	$	23,919,037	35%
Telecommunications equipment		10,613,252	14%		10,810,636	16%
Oil field services equipment		9,046,633	12%		9,091,278	13%
Vessel - tanker		7,735,107	10%		7,775,276	11%
Trailers		7,663,925	10%		-	-
Marine - dry bulk vessels		5,870,852	8%		5,909,523	9%
Marine - container vessels		5,616,299	8%		5,758,761	8%
Metal pipe and tube manufacturing equipment		2,542,798	3%		2,546,245	4%
Aircraft parts		1,925,763	3%		1,937,546	3%
Rail support construction equipment		486,861	1%		515,354	1%
	$	75,008,794	100%	$	68,263,656	100%

The net carrying value of our financing transactions includes the balances of our net investment in notes receivable and our net investment in finance leases, which are included in our consolidated balance sheets.

During the 2013 Quarter and the 2012 Quarter, certain customers generated significant portions (defined as 10% or more) of our total finance income as follows:

		Percentage of Total Finance Income
Customer	Asset Type	2013 Quarter	2012 Quarter
Gallatin Marine Management, LLC	Platform supply vessel	33%	-
NTS Communications, Inc.	Telecommunications equipment	15%	54%
Ocean Product Tankers AS	Vessel - tanker	11%	-
SeaChange Maritime LLC	Marine - container vessels	10%	-
Ensaimada S.A.	Marine - dry bulk vessels	9%	27%
		78%	81%

The foregoing percentages are only as of a stated period and are not expected to be comparable in future periods. Further, these percentages are only representative of the percentage of the carrying value of such assets or finance income as of each stated period, and as such are not indicative of the concentration of any asset type or customer by the amount of equity invested or our investment portfolio as a whole.

Operating Lease Transactions

The following tables set forth the types of equipment subject to operating leases in our portfolio:

	March 31, 2013			December 31, 2012
		Net	Percentage of		Net	Percentage of
		Carrying	Total Net		Carrying	Total Net
Asset Type		Value	Carrying Value		Value	Carrying Value
Marine - container vessels	$	80,212,519	74%	$	81,481,453	82%
Mining equipment		16,301,814	15%		17,391,339	18%
Oil field services equipment		11,891,562	11%		-	-
	$	108,405,895	100%	$	98,872,792	100%

The net carrying value of our operating lease transactions includes the balance of our leased equipment at cost, which is included in our consolidated balance sheets.

During the 2013 Quarter, certain customers generated significant portions (defined as 10% or more) of our total rental income as follows. We did not have any operating lease transactions during the 2012 Quarter.

		Percentage of Total Rental Income
Customer	Asset Type	2013 Quarter
Hoegh Autoliners Shipping AS	Marine - container vessels	58%
Murray Energy Corporation	Mining equipment	35%
		93%

Rental income from our operating leases is included in rental income in the consolidated statements of operations.

The foregoing percentages are only as of a stated period and are not expected to be comparable in future periods. Further, these percentages are only representative of the percentage of the carrying value of such assets or rental income as of each stated period, and as such are not indicative of the concentration of any asset type or customer by the amount of equity invested or our investment portfolio as a whole.

Revenue for the 2013 Quarter and the 2012 Quarter is summarized as follows:

		Three Months Ended March 31,
		2013		2012		Change
Finance income		$	2,034,976	$	705,195	$	1,329,781
Rental income			4,264,395		-		4,264,395
Other income			13,262		3,769		9,493
	Total revenue	$	6,312,633	$	708,964	$	5,603,669

Total revenue for the 2013 Quarter increased $5,603,669 as compared to the 2012 Quarter. The increase in rental income was due to entering into four operating leases since March 31, 2012. The increase in finance income was due to entering into nine notes receivable and one finance lease since March 31, 2012.

Expenses for the 2013 Quarter and the 2012 Quarter are summarized as follows:

		Three Months Ended March 31,
		2013		2012		Change
Management fees		$	209,491	$	26,817	$	182,674
Administrative expense reimbursements			969,695		419,085		550,610
General and administrative			304,465		232,801		71,664
Interest			1,028,124		188,093		840,031
Depreciation			2,554,177		-		2,554,177
	Total expense	$	5,065,952	$	866,796	$	4,199,156

Total expenses for the 2013 Quarter increased $4,199,156 as compared to the 2012 Quarter. The increase primarily related to depreciation expense on equipment acquired pursuant to our four operating leases and interest payments on our non-recourse long-term debt. General and administrative expense, management fees, and administrative expense reimbursements have increased due to the increase in the size of our investment portfolio since March 31, 2012.

Net Income (Loss) Attributable to Noncontrolling Interests

Net income (loss) attributable to noncontrolling interests increased $379,454 from a loss of $143,063 in the 2012 Quarter to income of $236,391 in the 2013 Quarter. The increase was primarily due to net income related to our joint ventures with Fund Fourteen, which invested in two operating leases and two finance leases, and our joint ventures with ECI Partners, which invested in three operating leases since March 31, 2012.

Net Income (Loss) Attributable to Fund Fifteen

As a result of the foregoing factors, the net income (loss) attributable to us increased $1,025,059 from a loss of $(14,769) in the 2012 Quarter to income of $1,010,290 in the 2013 Quarter. The net income (loss) attributable to us per weighted average Interest outstanding for the 2013 Quarter and the 2012 Quarter was $6.14 and $(0.28), respectively.

Financial Condition

This section discusses the major balance sheet variances at March 31, 2013 compared to December 31, 2012.

Total Assets

Total assets increased $22,766,357, from $208,274,347 at December 31, 2012 to $231,040,704 at March 31, 2013. The increase in total assets was the result of cash proceeds received from the sale of Interests, the majority of which were then used to invest in one note receivable and one operating lease.

Total Liabilities

Total liabilities increased $1,055,313, from $78,351,878 at December 31, 2012 to $79,407,191 at March 31, 2013. The increase was primarily the result of a security deposit in the amount of approximately $2,570,000 received in conjunction with an operating lease transaction during the 2013 Quarter, which will be returned to the lessee after the termination of the operating lease, except in the event of a default, in which case the security deposit will be used or retained to the extent required to cure the default. The increase was partially offset by principal payments we made on our non-recourse long-term debt.

Equity

Equity increased $21,711,044, from $129,922,469 at December 31, 2012 to $151,633,513 at March 31, 2013. The increase primarily related to the cash proceeds received from the sale of Interests, investments by noncontrolling interests and the net income recorded in the 2013 Quarter, which were partially offset by sales and offering expenses incurred and distributions paid.

Liquidity and Capital Resources

Summary

At March 31, 2013 and December 31, 2012, we had cash of $44,332,819 and $37,990,933, respectively. Pursuant to the terms of our offering, we have established a reserve in the amount of 0.50% of the gross offering proceeds from the sale of our Interests. As of March 31, 2013, the cash reserve was $864,531. During our offering period, our main source of cash is from financing activities and our main use of cash is in investing activities.

We are offering our Interests on a “best efforts” basis with the current intention of raising up to $418,000,000. As additional Interests are sold, we will experience a relative increase in liquidity as cash is received, and then a relative decrease in liquidity as cash is expended to make investments.

We are using the net proceeds of the offering and cash from operations to invest in Capital Assets located in North America, Europe and other developed markets, including those in Asia, South America and elsewhere. We have sought and continue to seek to acquire a portfolio of Capital Assets that is comprised of transactions that generate (a) current cash flow from payments of principal and/or interest (in the case of secured loans and other financing transactions) and rental payments (in the case of leases), (b) deferred cash flow by realizing the value of certain Capital Assets or interests therein at the maturity of the investment, or (c) a combination of both.

Unanticipated or greater than anticipated operating costs or losses (including a borrower’s inability to make timely loan payments or a lessee’s inability to make timely lease payments) would adversely affect our liquidity. To the extent that working capital may be insufficient to satisfy our cash requirements, we anticipate that we would fund our operations from cash flow generated by operating and financing activities. In addition, as of March 31, 2013, we have up to $10,000,000 available to us under the Facility pursuant to the borrowing base. Our General Partner does not intend to fund any cash flow deficit of ours or provide other financial assistance to us.

From the commencement of our offering period on June 6, 2011 through March 31, 2013, we sold 173,615 Interests to 4,148 limited partners, representing $172,906,128 of capital contributions. From the Initial Closing Date on July 28, 2011 through March 31, 2013, we paid or accrued sales commissions to third parties of $11,583,799 and dealer-manager fees to ICON Securities, LLC of $5,071,428. In addition, organizational and offering expenses of $2,629,880 were paid or accrued by us, our General Partner or its affiliates during the offering period.

Cash Flows

Operating Activities

Cash provided by operating activities increased $6,585,013, from a use of cash of $413,335 in the 2012 Quarter to a source of cash of $6,171,678 in the 2013 Quarter. The increase was primarily related to rental payments received on our operating leases and interest payments received on our notes receivable and finance leases, partially offset by payments made for administrative expense reimbursements and management fees to our Investment Manager and interest expense on third-party non-recourse long-term debt.

Investing Activities

Cash used in investing activities increased $4,621,237, from $14,395,047 in the 2012 Quarter to $19,016,284 in the 2013 Quarter. The increase was primarily related to our investment in one note receivable and the purchase of equipment leased subject to an operating lease during the 2013 Quarter, partially offset by the collection of principal received on finance leases and notes receivable during the 2013 Quarter.

Financing Activities

Cash provided by financing activities decreased $13,418,426, from $32,604,918 in the 2012 Quarter to $19,186,492 in the 2013 Quarter. The decrease was primarily related to (i) a decrease in the sale of Interests, (ii) an increase in cash distributions paid to partners and noncontrolling interests and (iii) an increase in principal repayments of debt related to our investment in the Lewek Ambassador and the Hoegh Copenhagen, which were partially offset by (i) an increase in investment in joint ventures by noncontrolling interests and (ii) a decrease in sales and offering expenses paid in the 2013 Quarter.

Non-Recourse Long-Term Debt

We had non-recourse long-term debt obligations at March 31, 2013 of $67,520,833 related to the Lewek Ambassador and Hoegh Copenhagen. Our non-recourse long-term debt obligations consist of notes payable in which the lender has a security interest in the underlying vessels. If the lessee were to default on the underlying lease, resulting in our default on the non-recourse long-term debt, the vessels would be returned to the lender in extinguishment of that debt.

Distributions

We, at our General Partner’s discretion, pay monthly distributions to each of our limited partners beginning with the first month after each such limited partner’s admission and expect to continue to pay such distributions until the termination of our operating period. We paid distributions of $30,789, $3,048,086 and $176,796 to our General Partner, limited partners and noncontrolling interests, respectively, during the 2013 Quarter.

Commitments and Contingencies and Off-Balance Sheet Transactions

Commitments and Contingencies

At the time we acquire or divest of an interest in Capital Assets, we may, under very limited circumstances, agree to indemnify the seller or buyer for specific contingent liabilities. Our General Partner believes that any liability of ours that may arise as a result of any such indemnification obligations will not have a material adverse effect on our consolidated financial condition or results of our operations taken as a whole.

At March 31, 2013, we had non-recourse debt obligations. The lender has a security interest in the vessel relating to each non-recourse debt instrument and an assignment of the rental payments under the lease associated with the vessel. If the lessee defaults on the lease, the vessel would be returned to the lender in extinguishment of the non-recourse debt. At March 31, 2013, our outstanding non-recourse long-term indebtedness was $67,520,833.

We have entered into a remarketing agreement with a third party. Residual proceeds received in excess of specific amounts will be shared with this third party in accordance with the terms of the remarketing agreement. The present value of the obligation related to this agreement is approximately $112,000 at March 31, 2013.

In connection with certain investments, we are required to maintain restricted cash balances with certain banks. Our restricted cash amounts of approximately $625,000 and $500,000 are presented within other assets in our consolidated balance sheets at March 31, 2013 and December 31, 2012, respectively.

Off-Balance Sheet Transactions

None.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

There are no material changes to the disclosures related to this item since the filing of our Annual Report on Form 10-K for the year ended December 31, 2012.

Item 4. Controls and Procedures

Evaluation of disclosure controls and procedures

In connection with the preparation of this Quarterly Report on Form 10-Q for the three months ended March 31, 2013, our General Partner carried out an evaluation, under the supervision and with the participation of the management of our General Partner, including its Co-Chief Executive Officers and the Principal Financial and Accounting Officer, of the effectiveness of the design and operation of our General Partner’s disclosure controls and procedures as of the end of the period covered by this report pursuant to the Securities Exchange Act of 1934, as amended. Based on the foregoing evaluation, the Co-Chief Executive Officers and the Principal Financial and Accounting Officer concluded that our General Partner’s disclosure controls and procedures were effective.

In designing and evaluating our General Partner’s disclosure controls and procedures, our General Partner recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Our General Partner’s disclosure controls and procedures have been designed to meet reasonable assurance standards. Disclosure controls and procedures cannot detect or prevent all error and fraud. Some inherent limitations in disclosure controls and procedures include costs of implementation, faulty decision-making, simple error and mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. The design of any system of controls is based, in part, upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all anticipated and unanticipated future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with established policies or procedures.

Evaluation of internal control over financial reporting

There have been no changes in our internal control over financial reporting during the three months ended March 31, 2013 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

In the ordinary course of conducting our business, we may be subject to certain claims, suits, and complaints filed against us. In our General Partner’s opinion, the outcome of such matters, if any, will not have a material impact on our consolidated financial position or results of operations. We are not aware of any material legal proceedings that are currently pending against us or against any of our assets.

Item 1A. Risk Factors

There have been no material changes from the risk factors disclosed in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2012.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On September 23, 2010, we were capitalized with the issuance to (i) our General Partner of a general partnership interest for the purchase price of $1.00 and (ii) our Investment Manager of one Interest for the purchase price of $1,000. These partnership interests were purchased for investment and for the purpose of organizing us. We issued the partnership interests in reliance on an exemption from registration under Section 4(2) of the Securities Act of 1933.

Our Registration Statement on Form S-1, as amended, was declared effective by the Securities and Exchange Commission on June 6, 2011 (SEC File No. 333-169794). Our offering period commenced on June 6, 2011 and will end no later than June 6, 2013.

Our Initial Closing Date was July 28, 2011. Following such date, we returned the initial capital contribution of $1,000 to our Investment Manager. During the period from June 6, 2011 through March 31, 2013, we received additional capital contributions in the amount of $172,906,128. For the period from the Initial Closing Date through March 31, 2013, we paid or accrued sales commissions to third parties of $11,583,799 and dealer-manager fees to ICON Securities of $5,071,428. In addition, organizational and offering expenses in the amount of $2,629,880 were paid or accrued by us, our General Partner or its affiliates during this period. Net offering proceeds to us after deducting the expenses described were $153,621,021 during this period.

From April 1, 2013 through May 9, 2013, we received additional capital contributions in the amount of $11,144,933. For the period from April 1, 2013 through May 9, 2013, we paid or accrued sales commissions to third parties of $695,141 and dealer-manager fees to ICON Securities of $309,677.

See the disclosure under “Recent Significant Transactions” in Item 2 of Part I for a discussion of the investments we have made with our net offering proceeds.

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Not applicable.

Item 6. Exhibits

3.1 Certificate of Limited Partnership of Registrant (Incorporated by reference to Exhibit 3.1 to Registrant’s Registration Statement on Form S-1 filed with the SEC on October 6, 2010 (File No. 333-169794)).

4.1 Limited Partnership Agreement of Registrant (Incorporated by reference to Appendix A to Registrant’s Prospectus Supplement No. 3 filed with the SEC on December 28, 2011 (File No.333-169794)).

10.1 Investment Management Agreement, by and between ICON ECI Fund Fifteen, L.P. and ICON Capital Corp., dated as of June 3, 2011 (Incorporated by reference to Exhibit 10.2 to Amendment No. 6 to the Registrant’s Registration Statement on Form S-1 filed with the SEC on June 3, 2011 (File No. 333-169794)).

10.2 Commercial Loan Agreement, by and between California Bank & Trust and ICON ECI Fund Fifteen, L.P., dated as of May 10, 2011 (Incorporated by reference to Exhibit 10.2 to Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011, filed on August 12, 2011).

10.3 Loan Modification Agreement, dated as of March 31, 2013, by and between California Bank & Trust and ICON ECI Fund Fifteen, L.P. (Incorporated by reference to Exhibit 10.3 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 2012, filed March 28, 2013).

31.1 Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.

31.2 Rule 13a-14(a)/15d-14(a) Certification of Co-Chief Executive Officer.

31.3 Rule 13a-14(a)/15d-14(a) Certification of Principal Financial and Accounting Officer.

32.1 Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2 Certification of Co-Chief Executive Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.3 Certification of Principal Financial and Accounting Officer pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS* XBRL Instance Document.

101.SCH* XBRL Taxonomy Extension Schema Document.

101.CAL* XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF* XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB* XBRL Taxonomy Extension Labels Linkbase Document.

101.PRE* XBRL Taxonomy Extension Presentation Linkbase Document.

__________________________________________________________________________________________________

* XBRL (eXtensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ICON ECI Fund Fifteen, L.P.

(Registrant)

By: ICON GP 15, LLC

(General Partner of the Registrant)

May 14, 2013

By: /s/ Michael A. Reisner

Michael A. Reisner

Co-Chief Executive Officer and Co-President

(Co-Principal Executive Officer)

By: /s/ Mark Gatto

Mark Gatto

Co-Chief Executive Officer and Co-President

(Co-Principal Executive Officer)

By: /s/ Nicholas A. Sinigaglia

Nicholas A. Sinigaglia

Managing Director

(Principal Financial and Accounting Officer)

EX-31.1 2 ex31-1.htm CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002.

Exhibit 31.1

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael A. Reisner, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of ICON ECI Fund Fifteen, L.P.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

b. designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the board of directors of ICON GP 15, LLC (or persons performing the equivalent functions):

a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 14, 2013

/s/ Michael A. Reisner

Michael A. Reisner

Co-Chief Executive Officer and Co-President

ICON GP 15, LLC

EX-31.2 3 ex31-2.htm CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002.

Exhibit 31.2

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Mark Gatto, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of ICON ECI Fund Fifteen, L.P.;

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 14, 2013

/s/ Mark Gatto

Mark Gatto

Co-Chief Executive Officer and Co-President

ICON GP 15, LLC

EX-31.3 4 ex31-3.htm CERTIFICATION OF PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002.

Exhibit 31.3

CERTIFICATION OF PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Nicholas A. Sinigaglia, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of ICON ECI Fund Fifteen, L.P.;

b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 14, 2013

/s/ Nicholas A. Sinigaglia

Nicholas A. Sinigaglia

Managing Director

(Principal Financial and Accounting Officer)

ICON GP 15, LLC

EX-32.1 5 ex32-1.htm CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.

Exhibit 32.1

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael A. Reisner, Co-Chief Executive Officer and Co-President of ICON GP 15, LLC, the General Partner of the Registrant, in connection with the Quarterly Report of ICON ECI Fund Fifteen, L.P. (the “Partnership”) on Form 10-Q for the quarter ended March 31, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

Date: May 14, 2013

/s/ Michael A. Reisner

Michael A. Reisner

Co-Chief Executive Officer and Co-President

ICON GP 15, LLC

EX-32.2 6 ex32-2.htm CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.

Exhibit 32.2

CERTIFICATION OF CO-CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Mark Gatto, Co-Chief Executive Officer and Co-President of ICON GP 15, LLC, the General Partner of the Registrant, in connection with the Quarterly Report of ICON ECI Fund Fifteen, L.P. (the “Partnership”) on Form 10-Q for the quarter ended March 31, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

Date: May 14, 2013

/s/ Mark Gatto

Mark Gatto

Co-Chief Executive Officer and Co-President

ICON GP 15, LLC

EX-32.3 7 ex32-3.htm CERTIFICATION OF PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.

Exhibit 32.3

CERTIFICATION OF PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Nicholas A. Sinigaglia, Principal Financial and Accounting Officer of ICON GP 15, LLC, the General Partner of the Registrant, in connection with the Quarterly Report of ICON ECI Fund Fifteen, L.P. (the “Partnership”) on Form 10-Q for the quarter ended March 31, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Quarterly Report”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Quarterly Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

Date: May 14, 2013

/s/ Nicholas A. Sinigaglia

Nicholas A. Sinigaglia

Managing Director

(Principal Financial and Accounting Officer)

ICON GP 15, LLC

EX-101.INS 8 icoi-20130331.xml XBRL INSTANCE DOCUMENT 0001502519 2013-01-01 2013-03-31 0001502519 2013-05-09 0001502519 2013-03-31 0001502519 2012-12-31 0001502519 2012-01-01 2012-03-31 0001502519 us-gaap:LimitedPartnerMember 2012-12-31 0001502519 us-gaap:GeneralPartnerMember 2012-12-31 0001502519 icoi:TotalPartnersEquityMember 2012-12-31 0001502519 us-gaap:NoncontrollingInterestMember 2012-12-31 0001502519 us-gaap:LimitedPartnerMember 2013-01-01 2013-03-31 0001502519 us-gaap:GeneralPartnerMember 2013-01-01 2013-03-31 0001502519 icoi:TotalPartnersEquityMember 2013-01-01 2013-03-31 0001502519 us-gaap:NoncontrollingInterestMember 2013-01-01 2013-03-31 0001502519 us-gaap:LimitedPartnerMember 2013-03-31 0001502519 us-gaap:GeneralPartnerMember 2013-03-31 0001502519 icoi:TotalPartnersEquityMember 2013-03-31 0001502519 us-gaap:NoncontrollingInterestMember 2013-03-31 0001502519 2011-12-31 0001502519 2012-03-31 0001502519 2010-09-23 0001502519 icoi:DistributionReinvestmentPlanMember 2010-09-23 0001502519 2011-07-28 0001502519 2011-11-17 0001502519 icoi:KanzaConstructionIncMember 2013-03-31 0001502519 icoi:HeniffMember 2013-03-31 0001502519 icoi:KanzaConstructionIncMember 2012-03-09 0001502519 icoi:KanzaConstructionIncMember 2013-01-01 2013-03-31 0001502519 icoi:MarineVesselsMember 2013-03-31 0001502519 icoi:MarineVesselsMember 2012-12-31 0001502519 us-gaap:EquipmentMember 2013-03-31 0001502519 us-gaap:EquipmentMember 2012-12-31 0001502519 icoi:OilfieldServicesEquipmentMember 2013-03-31 0001502519 icoi:OilfieldServicesEquipmentMember 2012-12-31 0001502519 us-gaap:ParentMember 2013-02-15 0001502519 icoi:IconEquipmentAndCorporateInfrastructureFundFourteenLPMember 2013-02-15 0001502519 icoi:IconEciPartnersLPMember 2013-02-15 0001502519 icoi:OilfieldServicesEquipmentMember 2013-02-15 0001502519 us-gaap:MinimumMember 2013-03-31 0001502519 us-gaap:MaximumMember 2013-03-31 0001502519 icoi:IconCapitalLlcMember 2013-01-01 2013-03-31 0001502519 icoi:IconCapitalLlcMember 2012-01-01 2012-03-31 0001502519 icoi:IconSecuritiesMember 2013-01-01 2013-03-31 0001502519 icoi:IconSecuritiesMember 2012-01-01 2012-03-31 0001502519 us-gaap:SubsequentEventMember icoi:IconSecuritiesMember 2013-04-01 2013-05-09 0001502519 icoi:FundFourteenMember 2013-01-01 2013-03-31 0001502519 icoi:FundFourteenMember 2012-01-01 2012-03-31 0001502519 us-gaap:SubsequentEventMember 2013-04-01 2013-05-09 0001502519 us-gaap:MinimumMember 2013-01-01 2013-03-31 0001502519 us-gaap:MaximumMember 2013-01-01 2013-03-31 0001502519 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2013-03-31 0001502519 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel3Member 2013-03-31 0001502519 us-gaap:SubsequentEventMember icoi:IconLeasingFundFifteenLlcMember 2013-04-02 0001502519 icoi:IconLeasingFundFourteenLlcMember us-gaap:SubsequentEventMember 2013-04-02 0001502519 us-gaap:SubsequentEventMember 2013-01-01 2013-04-02 0001502519 us-gaap:SubsequentEventMember 2013-04-02 0001502519 icoi:LubricatingSpecialtiesCompanyLscMember us-gaap:SubsequentEventMember us-gaap:IssuanceOfDebtMember 2013-04-05 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure icoi:Partner icoi:Vessel icoi:Credit false --12-31 2013-03-31 No No Yes Non-accelerated Filer ICON ECI FUND FIFTEEN, L.P. 0001502519 184881 2013 Q1 10-Q

8819134

6059960

4721594

2167417

56921

2478

209491

26817

209491

26817

231040704

208274347

108405895

98872792

4721594

2167417

81651931

19388278

12087280

113127489

101040209

36889425

38214311

328192

13255153

14005501

561450

589698

24523914

25126700

44332819

37990933

5383978

44332819

23180514

6341886

17796536

<div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: left; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">    The Investment Manager weighs all credit decisions based on a combination of external credit ratings as well as internal credit evaluations of all borrowers. A borrower's credit is analyzed using those credit ratings as well as the borrower's financial statements and other financial data deemed relevant.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">As the Partnership's financing receivables, generally finance leases and notes receivable, are limited in number, the Investment Manager is able to estimate the credit loss reserve based on a detailed analysis of each financing receivable as opposed to using portfolio-based metrics and credit loss reserve.  Financing receivables are analyzed quarterly and categorized as either performing or non-performing based on payment history.  If a financing receivable becomes non-performing due to a borrower's missed scheduled payments or failed financial covenants, the Investment Manager analyzes whether a credit loss reserve should be established or whether the financing receivable should be restructured.  Material events would be specifically disclosed in the discussion of each financing receivable held.</div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;"><div style="background-color: #ffffff;"><div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman', serif; color: #000000; font-size: 10pt;">Notes receivable are generally placed in a non-accrual status when payments are more than 90 days past due. Additionally, the Investment Manager periodically reviews the creditworthiness of companies with payments outstanding less than 90 days and based upon the Investment Manager's judgment, these accounts may be placed in a non-accrual status.</div><div><br /></div><div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman', serif; color: #000000; font-size: 10pt;">In accordance with the cost recovery method, payments received on non-accrual loans are applied to principal if there is doubt regarding the ultimate collectability of principal. If collection of the principal of non-accrual loans is not in doubt, interest income is recognized on a cash basis. Loans in non-accrual status may not be restored to accrual status until all delinquent payments have been received, and the Partnership believes recovery of the remaining unpaid receivable is probable.</div><div><br /></div><div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman', serif; color: #000000; font-size: 10pt;">The Partnership charges off a loan in the period that it is deemed uncollectible and records a reduction in the allowance for loan losses and the balance of the loan.</div></div></div></div>

<div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">Basis of Presentation and Consolidation</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">The accompanying consolidated financial statements of the Partnership have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission for Quarterly Reports on Form 10-Q.  In the opinion of the General Partner, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included.  These consolidated financial statements should be read together with the consolidated financial statements and notes included in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2012.  The results for the interim period are not necessarily indicative of the results for the full year.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;"> </div></div>

0.025

0.04

0.046

0.04997

412892

832164

2554177

3067224

3041918

0.55

0.45

0.1225

0.17

<div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">The estimated fair value of the Partnership's fixed-rate notes receivable, fixed-rate non-recourse long-term debt and seller's credit was based on the discounted value of future cash flows related to the loans based on recent transactions of this type. Principal outstanding on fixed-rate notes receivable was discounted at rates ranging between 12.25% and 17.0% per year. Principal outstanding on fixed-rate non-recourse long-term debt and the seller's credit was discounted at a rate of 4.60% per year.</div><div style="text-indent: 0pt; display: block;"><br /></div><div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="6" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">March 31, 2013</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Carrying</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="3" valign="bottom"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Fair Value</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Amount</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="3" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">(Level 3)</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 4px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Principal outstanding on fixed-rate notes receivable</div></div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>47,556,251</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>47,936,951</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td valign="bottom" style="width: 76%; display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 4px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Principal outstanding on fixed-rate non-recourse long-term debt</div></div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>67,520,833</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>68,882,732</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td valign="bottom" style="width: 76%; display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 4px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Seller's credit</div></div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>5,752,441</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>5,752,441</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr></table></div></div><div style="text-indent: 0pt; display: block;"><br /></div></div>

1960000

30789

8095

304465

232801

-127578

-106892

1010290

-14769

-61188

-128825

124448

22400

2611719

-225517

658325

-9871

1028124

188093

95279

119000

69801

2034976

705195

799426

79407191

78351878

231040704

208274347

420000

20000

141403648

123633993

10000000

0.005

781904

724626

3902480

-19016284

-14395047

1000187

-14621

19186492

32604918

10103

-148

1010290

-14769

6171678

-413335

236391

-143063

67520833

69250000

67520833

68882732

2497000

2442000

49516251

42538932

47556251

47936951

50484880

43136956

487000

13500000

2629880

5065952

866796

4264395

<div><div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr valign="top"><td style="text-align: left; width: 36pt;"><div style="text-align: left; font-family: Times New Roman; font-size: 10pt; font-weight: bold;">(1)  </div></td><td><div style="text-align: justify; text-indent: 0pt; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">Organization</div></td></tr></table></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">ICON ECI Fund Fifteen, L.P. (the "Partnership") was formed on September 23, 2010 as a Delaware limited partnership. The initial capitalization of the Partnership was $1,001. The Partnership will continue until December 31, 2025, unless terminated sooner. The Partnership is offering limited partnership interests ("Interests") on a "best efforts" basis with the intention of raising up to $418,000,000 of capital, consisting of 420,000 Interests, of which 20,000 have been reserved for the Partnership's distribution reinvestment plan (the "DRIP Plan"). The DRIP Plan allows limited partners to purchase Interests with distributions received from the Partnership and/or certain affiliates of the Partnership.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">At any time prior to the time that the offering of Interests is terminated, the Partnership may, at its sole discretion, increase the offering to a maximum of up to $618,000,000 of capital, consisting of 620,000 Interests; provided, however, that the offering period may not be extended in connection with such change. The Partnership is currently in its offering period, which commenced on June 6, 2011 and is anticipated to end no later than June 6, 2013.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">With the proceeds from Interests sold, the Partnership will (i) primarily originate or acquire a diverse pool of investments in domestic and global companies, which investments will primarily be structured as debt and debt-like financings (such as loans and leases) that are collateralized by equipment and other corporate infrastructure (collectively, "Capital Assets") utilized by such companies to operate their businesses, as well as other strategic investments in or collateralized by Capital Assets that ICON GP 15, LLC, a Delaware limited liability company and the general partner of the Partnership (the "General Partner"), believes will provide the Partnership with a satisfactory, risk-adjusted rate of return, (ii) pay fees and expenses, and (iii) establish a cash reserve. The General Partner will make investment decisions on behalf of and manage the business of the Partnership. Additionally, the General Partner has a 1% interest in the profits, losses, cash distributions and liquidation proceeds of the Partnership.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">As of July 28, 2011 (the "Initial Closing Date"), the Partnership raised a minimum of $1,200,000 from the sale of Interests, at which time the Partnership commenced operations. Upon the commencement of operations on the Initial Closing Date, the Partnership returned the initial capital contribution of $1,000 to ICON Capital, LLC, a Delaware limited liability company formerly known as ICON Capital Corp. and the investment manager of the Partnership (the "Investment Manager"). From the commencement of the Partnership's offering on June 6, 2011 through March 31, 2013, the Partnership sold 173,615 Interests to 4,148 limited partners, representing $172,906,128 of capital contributions. Investors from the Commonwealth of Pennsylvania and the State of Tennessee were not admitted until the Partnership raised total equity in the amount of $20,000,000, which the Partnership achieved on November 17, 2011. During the period from the Initial Closing Date through March 31, 2013, the Partnership paid or accrued the following commissions and fees in connection with its offering of Interests: (i) sales commissions to third parties in the amount of $11,583,799 and (ii) dealer-manager fees in the amount of $5,071,428 to ICON Securities, LLC, formerly known as ICON Securities Corp., an affiliate of the General Partner and the dealer-manager of the offering of the Interests ("ICON Securities"). In addition, during such period, the General Partner and its affiliates, on behalf of the Partnership, incurred organizational and offering expenses in the amount of $2,629,880. From the Initial Closing Date through March 31, 2013, organizational and offering expenses in the amount of $2,216,988 were recorded as a reduction of partners' equity.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">Partners' capital accounts are increased for their initial capital contribution plus their proportionate share of earnings and decreased by their proportionate share of losses and distributions. Profits, losses, cash distributions and liquidation proceeds are allocated 99% to the limited partners and 1% to the General Partner until the aggregate amount of cash distributions paid to limited partners equals the sum of the limited partners' aggregate capital contributions, plus an 8% cumulative annual return on their aggregate unreturned capital contributions, compounded daily. After such time, distributions will be allocated 90% to the limited partners and 10% to the General Partner.</div><div style="text-indent: 0pt; display: block;"><br /></div></div>

2880304

2314802

5752441

13262

3769

54470

141276070

123527101

150972

173615

22464607

22643

173615

3048086

30789

3078875

176796

3255671

10357443

6395368

151633513

129922469

123633993

-106892

123527101

6395368

141403648

-127578

141276070

10357443

3078875

809550

5071428

2085757

3617390

7726224

14560686

12087280

176796

222681

60417

28000

3902480

117500

22464607

37118509

172906128

11144933

1246681

-157832

1000187

10103

1010290

236391

142024

202200

<div><div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;">(8)      </font><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;">Transactions with Related Parties</font></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">The Partnership paid distributions to the General Partner of $30,789 and $8,095 for the three months ended March 31, 2013 and 2012, respectively. Additionally, the General Partner's interest in the net income (loss) attributable to the Partnership was $10,103 and $(148) for the three months ended March 31, 2013 and 2012, respectively.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">Fees and other expenses paid or accrued by the Partnership to the General Partner or its affiliates were as follows:</div><div><div style="text-indent: 0pt; display: block;"><br /></div><div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="6" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Three Months Ended March 31,</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Entity</div></div></td><td valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Capacity</div></div></td><td valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Description</div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2013</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2012</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td align="left" valign="bottom"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Organizational and offering</div></div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="padding-left: 2%; width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">expense reimbursements<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (1)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>142,024</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>202,200</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Securities, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Dealer-Manager</div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Dealer-manager fees<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (2)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>642,252</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>1,102,522</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Acquisition fees<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (3)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>1,290,123</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>658,377</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Management fees<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (4)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>209,491</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>26,817</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" style="width: 24%; display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="width: 23%; display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Administrative expense</div></div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="padding-left: 2%; width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">reimbursements<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (4)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>969,695</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>419,085</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 2px; width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Fund Fourteen</div></div></td><td align="left" valign="bottom" style="padding-bottom: 2px; width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Noncontrolling Interest</div></div></td><td align="left" valign="bottom" style="padding-bottom: 2px; width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Interest expense<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (4)</font></div></div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>95,279</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>119,000</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td valign="bottom" style="padding-bottom: 4px; width: 25%; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 4px; width: 23%; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 4px; width: 28%; font-family: times new roman; font-size: 10pt;"><div></div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>3,348,864</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>2,528,001</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr></table></div></div><div style="text-indent: 0pt; display: block;"><br /></div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">(1)  Amount capitalized and amortized to partners' equity.</div></td></tr><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">(2)  Amount charged directly to partners' equity.</div></td></tr><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: -18pt; display: block; font-family: Times New Roman; margin-left: 45pt; font-size: 10pt; margin-right: 0pt;">(3)  Amount capitalized and amortized to operations.</div></td></tr><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">(4)  Amount charged directly to operations.</div></td></tr></table></div><div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><br /> </div></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">At March 31, 2013, the Partnership had a net payable of $3,067,224 due to the General Partner and its affiliates that primarily consisted of a payable of approximately $2,497,000 due to Fund Fourteen related to its noncontrolling interest in the Lewek Ambassador, an acquisition fee payable to the Partnerhip's Investment Manager and administrative expense reimbursements. At December 31, 2012, the Partnership had a net payable of $3,041,918 due to the General Partner and its affiliates that primarily consisted of a payable of approximately $2,442,000 due to Fund Fourteen related to its noncontrolling interest in the Lewek Ambassador and administrative expense reimbursements.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">From April 1, 2013 through May 9, 2013, the Partnership raised an additional $11,144,933 in capital contributions and paid or accrued dealer-manager fees to ICON Securities in the amount of $309,677.</div><div style="text-indent: 0pt; display: block;"><br /></div></div>

1729167

625000

500000

6312633

708964

<div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">Net investment in notes receivable consisted of the following:</div><div style="text-indent: 0pt; display: block;"><br /></div><div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">March 31,</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">December 31,</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2013</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2012</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Principal outstanding</div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>49,516,251</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>42,538,932</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Initial direct costs</div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>3,710,533</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>3,282,650</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Deferred fees</div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>(781,904</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;">)</td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>(724,626</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;">)</td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="padding-bottom: 2px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Credit loss reserve</div></div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>(1,960,000</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;">)</td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>(1,960,000</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;">)</td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 4px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">        Net investment in notes receivable</div></div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>50,484,880</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>43,136,956</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td valign="bottom" style="width: 76%; display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr></table></div></div><div style="text-indent: 0pt; display: block;"> </div></div>

<div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">(2)      Summary of Significant Accounting Policies</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">Basis of Presentation and Consolidation</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">The accompanying consolidated financial statements of the Partnership have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission for Quarterly Reports on Form 10-Q.  In the opinion of the General Partner, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included.  These consolidated financial statements should be read together with the consolidated financial statements and notes included in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2012.  The results for the interim period are not necessarily indicative of the results for the full year.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;"> </div></div><div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve</div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div><div style="text-align: left; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">    The Investment Manager weighs all credit decisions based on a combination of external credit ratings as well as internal credit evaluations of all borrowers. A borrower's credit is analyzed using those credit ratings as well as the borrower's financial statements and other financial data deemed relevant.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">As the Partnership's financing receivables, generally finance leases and notes receivable, are limited in number, the Investment Manager is able to estimate the credit loss reserve based on a detailed analysis of each financing receivable as opposed to using portfolio-based metrics and credit loss reserve.  Financing receivables are analyzed quarterly and categorized as either performing or non-performing based on payment history.  If a financing receivable becomes non-performing due to a borrower's missed scheduled payments or failed financial covenants, the Investment Manager analyzes whether a credit loss reserve should be established or whether the financing receivable should be restructured.  Material events would be specifically disclosed in the discussion of each financing receivable held.</div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;"><div style="background-color: #ffffff;"><div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman', serif; color: #000000; font-size: 10pt;">Notes receivable are generally placed in a non-accrual status when payments are more than 90 days past due. Additionally, the Investment Manager periodically reviews the creditworthiness of companies with payments outstanding less than 90 days and based upon the Investment Manager's judgment, these accounts may be placed in a non-accrual status.</div><div><br /></div><div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman', serif; color: #000000; font-size: 10pt;">In accordance with the cost recovery method, payments received on non-accrual loans are applied to principal if there is doubt regarding the ultimate collectability of principal. If collection of the principal of non-accrual loans is not in doubt, interest income is recognized on a cash basis. Loans in non-accrual status may not be restored to accrual status until all delinquent payments have been received, and the Partnership believes recovery of the remaining unpaid receivable is probable.</div><div><br /></div><div style="text-align: justify; text-indent: 18pt; font-family: 'Times New Roman', serif; color: #000000; font-size: 10pt;">The Partnership charges off a loan in the period that it is deemed uncollectible and records a reduction in the allowance for loan losses and the balance of the loan.</div></div></div><div style="text-indent: 0pt; display: block;"><br /></div></div></div><div><div style="text-align: justify; font-style: italic; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;"> </div></div><div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> </div></div>

<div><div style="text-align: left; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; font-weight: bold; margin-right: 0pt;">(11)   Subsequent Events</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">On April 2, 2013, the Partnership, through two joint ventures owned 55% by the Partnership and 45% by Fund Fourteen, purchased two chemical tanker vessels, the Ardmore Capella and Ardmore Calypso, from wholly-owned subsidiaries of Ardmore Shipholding Limited ("Ardmore").  Simultaneously, the vessels were bareboat chartered back to Ardmore for a period of five years.  The purchase price for the vessels was funded by $8,850,000 in cash, $22,750,000 of financing through non-recourse long-term debt and $5,500,000 of financing through two subordinated, non-interest-bearing seller's credits.</div><div style="text-indent: 0pt; display: block;"><br /></div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">On April 5, 2013, the Partnership made a secured term loan in the amount of $13,500,000 to Lubricating Specialties Company ("LSC").  The loan bears interest at 13.5% per year and matures on August 1, 2018.  The loan is secured by, among other things, a second priority security interest in and lien on LSC's liquid storage tanks, blending lines, packaging equipment, accounts receivable and inventory.</div></div>

969695 419085 969695 419085 162992 52155 6.14 -0.28 2647053 0 2647053 0 2647053 -172974 -64090 -574539 -105222 110000 204151 32025 1951 561296 241922 0 31889 22750000 5500000 2 1001 418000000 618000000 620000 0.01 0.99 1200000 1000 4148 20000000 11583799 2216988 0.08 0.9 0.1 0.5 3710533 3282650 7200000 5000000 0.1225 0.13 0.135 P42M P60M <div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">Leased equipment at cost consisted of the following:</div><div style="text-indent: 0pt; display: block;"><br /></div><div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">March 31,</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">December 31,</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2013</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2012</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Marine vessels</div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>81,651,931</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>81,651,931</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Mining equipment</div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>19,388,278</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>19,388,278</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 2px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Oilfield services equipment</div></div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>12,087,280</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>-</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">        Leased equipment at cost</div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>113,127,489</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>101,040,209</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 2px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Less: accumulated depreciation</div></div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>4,721,594</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>2,167,417</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="padding-bottom: 4px; width: 76%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">        Leased equipment at cost, less accumulated depreciation</div></div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>108,405,895</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>98,872,792</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr></table></div></div><div style="text-indent: 0pt; display: block;"><br /></div></div> 0.58 0.38 0.04 11804000 P45M <div><div style="text-align: justify; text-indent: 18pt; display: block; font-family: Times New Roman; margin-left: 36pt; font-size: 10pt; margin-right: 0pt;">Net investment in finance leases consisted of the following:</div><div style="text-indent: 0pt; display: block;"><br /></div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;">  </td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"> </td><td colspan="2" valign="bottom"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">March 31,</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"> </td><td colspan="2" valign="bottom"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">December 31,</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"> </td></tr><tr><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;">  </td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"> </td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2013</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"> </td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2012</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"> </td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 76%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Minimum rents receivable</div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;">$</td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">36,889,425</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;">$</td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">38,214,311</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 76%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Estimated residual values</div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">328,192</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">328,192</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 76%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Initial direct costs</div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">561,450</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">589,698</td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="padding-bottom: 2px; width: 76%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Unearned income</div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">(13,255,153</td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;">)</td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">(14,005,501</td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;">)</td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 4px; width: 76%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">        Net investment in finance leases</div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;">$</td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">24,523,914</td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;">$</td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;">25,126,700</td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"> </td></tr><tr bgcolor="white"><td valign="bottom" style="width: 76%; display: inline; font-family: times new roman; font-size: 10pt;">  </td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"> </td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"> </td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"> </td></tr></table></div></div> 5000000 5 <div><div style="text-indent: 0pt; display: block;"><br /></div><div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="6" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Three Months Ended March 31,</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Entity</div></div></td><td valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Capacity</div></div></td><td valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Description</div></div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2013</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="border-bottom: black 2px solid;"><div><div style="text-align: center; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">2012</div></div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td align="left" valign="bottom"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Organizational and offering</div></div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td colspan="2" valign="bottom" style="display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="padding-left: 2%; width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">expense reimbursements<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (1)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>142,024</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>202,200</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Securities, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Dealer-Manager</div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Dealer-manager fees<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (2)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>642,252</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>1,102,522</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Acquisition fees<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (3)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>1,290,123</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>658,377</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Management fees<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (4)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>209,491</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>26,817</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td valign="bottom" style="width: 24%; display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="width: 23%; display: inline; font-family: times new roman; font-size: 10pt;"><div></div></td><td align="left" valign="bottom" style="width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Administrative expense</div></div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td align="left" valign="bottom" style="width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">ICON Capital, LLC</div></div></td><td align="left" valign="bottom" style="width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Investment Manager</div></div></td><td align="left" valign="bottom" style="padding-left: 2%; width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">reimbursements<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (4)</font></div></div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>969,695</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="width: 1%; display: inline; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>419,085</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" style="padding-bottom: 2px; width: 24%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Fund Fourteen</div></div></td><td align="left" valign="bottom" style="padding-bottom: 2px; width: 23%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Noncontrolling Interest</div></div></td><td align="left" valign="bottom" style="padding-bottom: 2px; width: 29%;"><div><div style="text-align: left; text-indent: 0pt; display: block; font-family: times new roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;">Interest expense<font style="display: inline; font-size: 70%; vertical-align: text-top;"> (4)</font></div></div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>95,279</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 2px solid; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>119,000</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr><tr bgcolor="white"><td valign="bottom" style="padding-bottom: 4px; width: 25%; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 4px; width: 23%; font-family: times new roman; font-size: 10pt;"><div></div></td><td valign="bottom" style="padding-bottom: 4px; width: 28%; font-family: times new roman; font-size: 10pt;"><div></div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>3,348,864</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td align="right" valign="bottom" style="padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: left; width: 1%; font-family: times new roman; font-size: 10pt;"><div>$</div></td><td valign="bottom" style="border-bottom: black 4px double; text-align: right; width: 9%; font-family: times new roman; font-size: 10pt;"><div>2,528,001</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; font-family: times new roman; font-size: 10pt;"><div> </div></td></tr></table></div></div><div style="text-indent: 0pt; display: block;"><br /></div><div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: times new roman; font-size: 10pt;"><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">(1)  Amount capitalized and amortized to partners' equity.</div></td></tr><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">(2)  Amount charged directly to partners' equity.</div></td></tr><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: -18pt; display: block; font-family: Times New Roman; margin-left: 45pt; font-size: 10pt; margin-right: 0pt;">(3)  Amount capitalized and amortized to operations.</div></td></tr><tr bgcolor="#ffffff"><td align="left" valign="bottom" style="width: 90%;"><div style="text-align: left; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 27pt; font-size: 10pt; margin-right: 0pt;">(4)  Amount charged directly to operations.</div></td></tr></table></div><div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><br /> </div></div> 642252 1102522 309677 1290123 658377 3348864 2528001 0.046 112000 108000 8850000 P5Y 2018-08-01 2 Amount charged directly to operations. Amount capitalized and amortized to partners' equity. Amount charged directly to partners' equity Amount capitalized and amortized to operations.

EX-101.SCH 9 icoi-20130331.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 000100 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 010000 - Statement - Consolidated Balance Sheets (unaudited) link:presentationLink link:calculationLink link:definitionLink 010100 - Statement - Consolidated Balance Sheets (unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 020000 - Statement - Consolidated Statement of Operations (unaudited) link:presentationLink link:calculationLink link:definitionLink 030000 - Statement - Consolidated Statement of Changes in Equity link:presentationLink link:calculationLink link:definitionLink 040000 - Statement - Consolidated Statement of Cash Flows (unaudited) link:presentationLink link:calculationLink link:definitionLink 060100 - Disclosure - Organization link:presentationLink link:calculationLink link:definitionLink 060200 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 060300 - Disclosure - Net Investment in Notes Receivable link:presentationLink link:calculationLink link:definitionLink 060400 - Disclosure - Leased Equipment at Cost link:presentationLink link:calculationLink link:definitionLink 060500 - Disclosure - Net Investment in Finance Lease link:presentationLink link:calculationLink link:definitionLink 060600 - Disclosure - Non-Recourse Long-Term Debt link:presentationLink link:calculationLink link:definitionLink 060700 - Disclosure - Revolving Line of Credit, Recourse link:presentationLink link:calculationLink link:definitionLink 060800 - Disclosure - Transactions with Related Parties link:presentationLink link:calculationLink link:definitionLink 060900 - Disclosure - Fair Value Measurements link:presentationLink link:calculationLink link:definitionLink 061000 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 061100 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 070200 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 080300 - Disclosure - Net Investment in Notes Receivable (Tables) link:presentationLink link:calculationLink link:definitionLink 080400 - Disclosure - Leased Equipment at Cost (Tables) link:presentationLink link:calculationLink link:definitionLink 080500 - Disclosure - Net Investment in Finance Lease (Tables) link:presentationLink link:calculationLink link:definitionLink 080800 - Disclosure - Transactions with Related Parties (Tables) link:presentationLink link:calculationLink link:definitionLink 080900 - Disclosure - Fair Value Measurements (Tables) link:presentationLink link:calculationLink link:definitionLink 090100 - Disclosure - Organization (Details) link:presentationLink link:calculationLink link:definitionLink 090200 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:calculationLink link:definitionLink 090300 - Disclosure - Net Investment in Notes Receivable (Details) link:presentationLink link:calculationLink link:definitionLink 090400 - Disclosure - Leased Equipment at Cost (Details) link:presentationLink link:calculationLink link:definitionLink 090500 - Disclosure - Net Investment in Finance Lease (Details) link:presentationLink link:calculationLink link:definitionLink 090600 - Disclosure - Non-Recourse Long-Term Debt (Details) link:presentationLink link:calculationLink link:definitionLink 090700 - Disclosure - Revolving Line of Credit, Recourse (Details) link:presentationLink link:calculationLink link:definitionLink 090800 - Disclosure - Transactions with Related Parties (Details) link:presentationLink link:calculationLink link:definitionLink 090900 - Disclosure - Fair Value Measurements (Details) link:presentationLink link:calculationLink link:definitionLink 091000 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 091100 - Disclosure - Subsequent Events (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 10 icoi-20130331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 11 icoi-20130331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 12 icoi-20130331_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT Amendment Flag Current Fiscal Year End Date Document Period End Date Entity [Domain] Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Filer Category Entity Registrant Name Entity Central Index Key Entity Common Stock, Shares Outstanding Document Fiscal Year Focus Document Fiscal Period Focus Legal Entity [Axis] Document Type Summary of Significant Accounting Policies [Abstract] Accrued expenses and other liabilities Accounts Payable and Accrued Liabilities, Current Receivable Type [Axis] Accounts, Notes, Loans and Financing Receivable [Line Items] Leased equipment, accumulated depreciation Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Interest expense from amortization of debt financing costs Management fees Management fees Assets Assets [Abstract] Total assets Assets Leased equipment at cost (less accumulated depreciation of $4,721,594 and $2,167,417, respectively) Leased equipment at cost, less accumulated depreciation Less. accumulated depreciation Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation Net Investment in Finance Leases Capital Leases in Financial Statements of Lessor Disclosure [Text Block] Leased equipment at cost Capital Leased Assets, Gross Minimum rents receivable Estimated residual value Unearned income Capital Leases, Net Investment in Direct Financing Leases, Deferred Income Initial direct costs Net investment in finance leases Net investment in finance lease Carrying Value [Member] Cash Cash, beginning of period Cash, end of period Cash and Cash Equivalents, at Carrying Value Net increase in cash Cash and Cash Equivalents, Period Increase (Decrease) Commitments and Contingencies Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies [Abstract] Commitments and contingencies (Note 10) Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve Basis of Presentation and Consolidation Debt Instrument [Line Items] Schedule of Long-term Debt Instruments [Table] Revolving Line of Credit, Recourse Debt Disclosure [Text Block] Non-Recourse Long-Term Debt [Abstract] Basis spread (in hundredths) Minimum interest rate (in hundredths) Non-recourse long-term debt, interest rate (in hundredths) Deferred charges Deferred Costs Depreciation Depreciation expense Due to General Partner and affiliates, net Due to general partner and affiliates Mining Equipment [Member] Ownership percentage in equipment purchased (in hundredths) Equity Method Investment, Ownership Percentage Fair Value [Member] Fair Value, Hierarchy [Axis] Fair Value, Hierarchy [Axis] Discount rate on fixed notes receivable (in hundredths) Fair Value Inputs Assets Quantitative Information [Table] Fair Value Inputs Assets Quantitative Information [Line Items] Fair Value, Measurements, Fair Value Hierarchy [Domain] Fair Value Measurements [Abstract] Fair Value Measurements Fair Value Information on Leased Assets and Liabilities Fair Value, Disclosure Item Amounts [Domain] Fair Value, by Balance Sheet Grouping, Disclosure Item Amounts [Axis] Level 3 [Member] Carrying value and fair value of notes receivable [Abstract] Financing [Domain] Credit loss reserve Financing Receivable, Allowance for Credit Losses Financing [Axis] General Partner [Member] General Partner distributions General and administrative General and Administrative Expense General Partner General Partners' Capital Account Consolidated Statements of Operations (unaudited) [Abstract] Net income (loss) attributable to Fund Fifteen Income (Loss) Attributable to Parent Due to General Partner and affiliates, net Deferred revenue Increase (Decrease) in Deferred Revenue Accrued expenses and other liabilities Changes in operating assets and liabilities: Other assets Increase (Decrease) in Other Operating Assets Interest Interest expense Interest expense from amortization of seller's credit Interest Expense, Other Finance income Interest Income, Operating Cash paid for interest Issuance of Debt [Member] Net Investment in Finance Lease [Abstract] Liabilities: Total liabilities Liabilities Liabilities and Equity Liabilities and Equity [Abstract] Total liabilities and equity Liabilities and Equity Limited Partner [Member] Limited Partner [Member] Limited partnership interests authorized offering (in units) Limited partners Limited Partners' Capital Account Maximum borrowing capacity Commitment fee (in hundredths) Revolving Line of Credit, Recourse [Abstract] Outstanding borrowings under the facility Net Investment in Notes Receivable Loans, Notes, Trade and Other Receivables Disclosure [Text Block] Deferred fees Loans and Leases Receivable, Deferred Income, Commercial Non-Recourse Long-Term Debt Maximum [Member] Minimum [Member] Investment by noncontrolling interests Noncontrolling Interest, Increase from Equity Issuance or Sale of Parent Equity Interest Cash flows from financing activities: Net cash used in investing activities Net Cash Provided by (Used in) Investing Activities Net income (loss) attributable to Fund Fifteen allocable to: Limited partners Net cash provided by financing activities Net Cash Provided by (Used in) Financing Activities Cash flows from investing activities: General Partner Net income (loss) allocated to General Partner Cash flows from operating activities: Net income (loss) attributable to Fund Fifteen Net Income (Loss) Attributable to Parent Net cash provided by (used in) operating activities Net Cash Provided by (Used in) Operating Activities Less: net income (loss) attributable to noncontrolling interests Non-recourse long-term debt Principal outstanding on fixed rate non-recourse debt Non-Recourse Debt Supplemental disclosure of cash flow information: Noncash Investing and Financing Items [Abstract] Note payable Principal outstanding Principal outstanding on fixed rate notes receivable Net investment in notes receivable Net investment in notes receivable Term loan issued Schedule of Notes Receivable [Abstract] Noncontrolling Interests [Member] Organizational and offering expenses Expenses: Total expenses Operating Expenses Rental income Organization [Abstract] Organization Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] Other assets Other Assets Seller's credit Other income Other Income Paid-in-kind interest ICON ECI Fund Fifteen, L.P. [Member] Statement, Partner Capital Components [Axis] Partner Capital Components [Domain] Total partners' equity Partners' Capital Partners' equity Balance (in shares) Balance (unaudited) (in shares) Partners' Capital Account, Units Proceeds from sale of limited partnership interests Partners' Capital Account, Sale of Units Proceeds from sale of limited partnership interests (in shares) Sale of partnership interests (in units) Cash distributions Partners' Capital Account, Distributions Noncontrolling interests Total equity Balance Balance (unaudited) Cash distributions to partners Payments of Capital Distribution Underwriting fees Payments for Underwriting Expense Sales and offering expenses paid Payments of Stock Issuance Costs Investment in notes receivable Payments to Acquire Notes Receivable Purchase of equipment Payments to Acquire Machinery and Equipment Distributions to noncontrolling interests Payments to Noncontrolling Interests Principal received on notes receivable Proceeds from note receivable Investment by noncontrolling interests Sale of limited partnership interests Net income (loss) Net income Net income (loss) Property, Plant and Equipment, Type [Domain] Leased Equipment at Cost [Abstract] EX-101.PRE 13 icoi-20130331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 14 R33.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Commitments and Contingencies [Abstract]
Restricted cash	$ 625,000	$ 500,000
Present value of remarketing agreement	$ 112,000	$ 108,000

- Definition

The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element.

+ References+ Details

XML 15 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 16 R25.htm IDEA: XBRL DOCUMENT

Summary of Significant Accounting Policies (Details)	3 Months Ended
Summary of Significant Accounting Policies (Details)	Mar. 31, 2013
Basis of Presentation and Consolidation [Abstract]
Percentages of ownership interest for classification of equity method of investment (in hundredths)	50.00%

XML 17 R9.htm IDEA: XBRL DOCUMENT

Net Investment in Notes Receivable

3 Months Ended

Mar. 31, 2013

Net Investment in Notes Receivable [Abstract]

Net Investment in Notes Receivable

(3) Net Investment in Notes Receivable

Net investment in notes receivable consisted of the following:

	March 31,			December 31,
	2013			2012
Principal outstanding	$	49,516,251		$	42,538,932
Initial direct costs		3,710,533			3,282,650
Deferred fees		(781,904	)		(724,626	)
Credit loss reserve		(1,960,000	)		(1,960,000	)
Net investment in notes receivable	$	50,484,880		$	43,136,956

On March 9, 2012, the Partnership made a term loan in the amount of $5,000,000 to Kanza Construction, Inc. The loan bears interest at 13% per year and is for a period of 60 months. The loan is secured by all of Kanza's assets. As a result of Kanza's unexpected financial hardship and failure to meet certain payment obligations, the loan was placed on non-accrual status and the Partnership recorded a credit loss reserve of $1,960,000 during the year ended December 31, 2012 based on the estimated value of the recoverable collateral. During the three months ended March 31, 2013, Kanza sold a portion of its assets and remitted the proceeds of approximately $28,000 to the Partnership, reducing the outstanding estimated recoverable balance of the loan at March 31, 2013 to approximately $487,000. No finance income was recognized on the impaired loan during the three months ended March 31, 2013. Subsequent to March 31, 2013, Kanza sold the additional collateral and used the proceeds to substantially satisfy the $487,000 balance. The Partnership continues to pursue all legal remedies to obtain payment of the remaining $1,960,000.

On March 1, 2013, the Partnership made a secured term loan in the amount of $7,200,000 to Heniff Transportation Systems, LLC and Heniff TTL, LLC (collectively, "Heniff"). The loan bears interest at 12.25% per year and is for a period of 42 months. The loan is secured by, among other things, a second priority security interest in Heniff's assets, including tractors and stainless steel tank trailers.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3, 4

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3,4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph k

-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 01-6

-Paragraph 13

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 7

-Article 9

+ Details

Non-Recourse Long-Term Debt (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Non-Recourse Long-Term Debt [Abstract]
Non-recourse long-term debt	$ 67,520,833	$ 69,250,000
Minimum [Member]
Debt Instrument [Line Items]
Non-recourse long-term debt, interest rate (in hundredths)	4.60%
Maximum [Member]
Debt Instrument [Line Items]
Non-recourse long-term debt, interest rate (in hundredths)	4.997%

EXCEL 18 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\T-C0V9F8Q-E\T,C4W7S1F,C%?8C$X-U\Q,#=E M,6$W-34P9#'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-O;G-O;&ED871E9%]3=&%T96UE;G1?;V9?0VAA M;CPO>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D]R9V%N:7IA=&EO;CPO>#I.86UE/@T*("`@ M(#QX.E=O#I%>&-E M;%=O#I.86UE/E-U;6UA#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/DYE=%]);G9E#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/DQE87-E9%]%<75I<&UE;G1? M871?0V]S=#PO>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE M/DYE=%]);G9E#I.86UE/@T*("`@ M(#QX.E=O#I%>&-E M;%=O#I.86UE/DYO;E)E8V]U#I7;W)K#I7;W)K#I7;W)K#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/D-O;6UI=&UE;G1S7V%N9%]#;VYT:6YG96YC M:65S/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U#I%>&-E;%=O#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DQE87-E9%]%<75I<&UE;G1?871?0V]S=%]486)L93PO M>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I%>&-E;%=OF%T:6]N7T1E=&%I;',\+W@Z M3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DYE=%]);G9E#I7;W)K#I7;W)K#I%>&-E M;%=O#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/D9A:7)?5F%L=65?365A#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-O;6UI=&UE;G1S7V%N9%]#;VYT:6YG96YC:65S7SPO>#I.86UE M/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-U8G-E<75E;G1?179E M;G1S7T1E=&%I;',\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I3 M='EL97-H965T($A2968],T0B5V]R:W-H965T3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\T-C0V9F8Q-E\T,C4W M7S1F,C%?8C$X-U\Q,#=E,6$W-34P9#<-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO-#8T-F9F,39?-#(U-U\T9C(Q7V(Q.#=?,3`W93%A-S4U,&0W M+U=O'0O M:'1M;#L@8VAA2!);F9O2`P.2P@ M,C`Q,SQB'0^24-/3B!%0TD@1E5.1"!&2494145.+"!,+E`N/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$"!+97D\+W1D/@T*("`@("`@("`\=&0@8VQA2!796QL+6MN;W=N(%-E87-O;F5D($ES'0^3F\\2!6;VQU;G1A'0^665S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$'0^ M,C`Q,SQS<&%N/CPO'0^43$\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^ M)FYB'0^)FYB3PO=&0^#0H@("`@("`@(#QT M9"!C;&%S7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M'!E;G-E'0O M:F%V87-C3X-"B`@("`\ M=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'!E;G-E7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'!E;G-E'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'!E;G-E3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQAF%T:6]N/&)R/CPO MF%T:6]N(%M!8G-TF%T:6]N/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$=&5X=#X\9&EV/CQD:78@6QE/3-$)W1E>'0M86QI M9VXZ(&IU'0M:6YD96YT.B`P<'0[(&9O;G0M9F%M:6QY.B!4 M:6UEF%T:6]N/"]D:78^/"]T9#X\+W1R/CPO=&%B;&4^/"]D:78^/&1I M=B!S='EL93TS1"=T97AT+6%L:6=N.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@ M,3AP=#L@9&ES<&QA>3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA M3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA3L@=&5X="UI;F1E;G0Z(#$X<'0[(&1I3H@5&EM97,@3F5W(%)O;6%N.R!M87)G:6XM;&5F=#H@,S9P=#L@ M9F]N="US:7IE.B`Q,'!T.R!M87)G:6XM2!T M:6UE('!R:6]R('1O('1H92!T:6UE('1H870@=&AE(&]F9F5R:6YG(&]F($EN M=&5R97-T2!N;W0@8F4@ M97AT96YD960@:6X@8V]N;F5C=&EO;B!W:71H('-U8V@@8VAA;F=E+B!4:&4@ M4&%R=&YE6QE/3-$)W1E>'0M:6YD96YT.B`P<'0[(&1I3H@8FQO8VL[ M(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA2!O2!E<75I<&UE;G0@86YD(&]T:&5R(&-O2!S=6-H(&-O;7!A;FEEF5D(&)Y($-A<&ET86P@ M07-S971S('1H870@24-/3B!'4"`Q-2P@3$Q#+"!A($1E;&%W87)E(&QI;6ET M960@;&EA8FEL:71Y(&-O;7!A;GD@86YD('1H92!G96YE3L@=&5X="UI;F1E;G0Z(#$X<'0[(&1I3H@5&EM97,@3F5W(%)O;6%N.R!M87)G:6XM;&5F=#H@,S9P=#L@ M9F]N="US:7IE.B`Q,'!T.R!M87)G:6XM2!C;VUP86YY M(&9O6QV86YI82!A;F0@=&AE(%-T871E(&]F(%1E;FYE2!I;B!T:&4@86UO=6YT(&]F("0R,"PP,#`L,#`P M+"!W:&EC:"!T:&4@4&%R=&YE2X\+V1I=CX\9&EV M('-T>6QE/3-$)W1E>'0M:6YD96YT.B`P<'0[(&1I3H@8FQO8VL[(&9O;G0M9F%M M:6QY.B!4:6UEF4Z(#$P<'0[(&UA2!T:&5I7!E.B!T97AT+VAT;6P[ M(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@ M/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E M>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P M<'0[(&1I6QE.B!I=&%L:6,[('1E>'0M M:6YD96YT.B`P<'0[(&1I3H@5&EM M97,@3F5W(%)O;6%N.R!M87)G:6XM;&5F=#H@,C=P=#L@9F]N="US:7IE.B`Q M,'!T.R!M87)G:6XM3L@=&5X="UI;F1E;G0Z(#!P=#L@9&ES<&QA>3H@8FQO M8VL[(&UA3H@8FQO8VL[(&9O;G0M9F%M:6QY M.B!4:6UEF4Z(#$P<'0[(&UA6EN M9R!C;VYS;VQI9&%T960@9FEN86YC:6%L('-T871E;65N=',@;V8@=&AE(%!A M65A6QE/3-$)W1E M>'0M:6YD96YT.B`P<'0[(&1I3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[ M(&UA6QE/3-$)W1E>'0M86QI9VXZ(&IU3H@8FQO8VL[(&9O M;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA6QE/3-$ M)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P<'0[(&1I3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA7IE9"!U M3H@8FQO M8VL[(&UA3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA MF5D('%U87)T97)L>2!A;F0@8V%T96=O2!D:7-C;&]S M960@:6X@=&AE(&1I3L@=&5X="UI;F1E;G0Z(#$X<'0[(&1I3H@5&EM97,@3F5W(%)O;6%N.R!M87)G:6XM;&5F=#H@,C=P=#L@ M9F]N="US:7IE.B`Q,'!T.R!M87)G:6XM3L@=&5X="UI M;F1E;G0Z(#$X<'0[(&1I3H@5&EM M97,@3F5W(%)O;6%N.R!M87)G:6XM;&5F=#H@,C=P=#L@9F]N="US:7IE.B`Q M,'!T.R!M87)G:6XM3L@=&5X="UI;F1E;G0Z(#$X<'0[(&9O;G0M9F%M:6QY.B`G M5&EM97,@3F5W(%)O;6%N)RP@F4Z(#$P<'0[)SY.;W1E2!M971H;V0L('!A>6UE;G1S(')E8V5I=F5D(&]N(&YO;BUA8V-R M=6%L(&QO86YS(&%R92!A<'!L:65D('1O('!R:6YC:7!A;"!I9B!T:&5R92!I M3L@=&5X="UI;F1E;G0Z(#$X M<'0[(&9O;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RP@F4Z(#$P<'0[)SY4:&4@4&%R=&YE6QE.B!I=&%L:6,[('1E>'0M:6YD96YT M.B`P<'0[(&1I3H@5&EM97,@3F5W M(%)O;6%N.R!M87)G:6XM;&5F=#H@,C=P=#L@9F]N="US:7IE.B`Q,'!T.R!M M87)G:6XM3L@=&5X="UI;F1E;G0Z(#!P=#L@ M9&ES<&QA>3H@8FQO8VL[(&UA3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\T-C0V9F8Q-E\T,C4W7S1F,C%?8C$X M-U\Q,#=E,6$W-34P9#<-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M-#8T-F9F,39?-#(U-U\T9C(Q7V(Q.#=?,3`W93%A-S4U,&0W+U=O'0O:'1M;#L@8VAA M'0^/&1I=CX\9&EV('-T>6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('1E>'0M:6YD96YT.B`P<'0[(&1I6QE/3-$)V1I3H@:6YL:6YE.R!F;VYT+69A;6EL>3H@5&EM M97,@3F5W(%)O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[(&9O;G0M=V5I9VAT.B!B M;VQD.R<^3F5T($EN=F5S=&UE;G0@:6X@3F]T97,@4F5C96EV86)L93PO9F]N M=#X\+V1I=CX\9&EV('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P<'0[(&1I3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA M6QE/3-$)W1E>'0M:6YD96YT.B`P<'0[(&1I6QE/3-$)W=I9'1H.B`Q,#`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`P<'0[(&1I3H@=&EM97,@;F5W(')O;6%N.R!M87)G:6XM;&5F=#H@,'!T.R!F;VYT M+7-I>F4Z(#$P<'0[(&UA#L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q M,'!T.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T M;VT@#L@9F]N="UF86UI;'DZ M('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXF(S$V M,#L\+V1I=CX\+W1D/CQT9"!C;VQS<&%N/3-$,B!V86QI9VX],T1B;W1T;VT@ M6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!T:6UE3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV/B8C M,38P.SPO9&EV/CPO=&0^/"]T6QE/3-$)W=I9'1H.B`Q)3L@9&ES<&QA>3H@:6YL:6YE M.R!F;VYT+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P M<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O='1O M;2!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&9O;G0M M9F%M:6QY.B!T:6UE3H@=&EM M97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV/C0Y+#4Q-BPR M-3$\+V1I=CX\+W1D/CQT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T M=&]M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N M="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^ M/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!A;&EG;CTS1')I9VAT('9A;&EG M;CTS1&)O='1O;2!S='EL93TS1"=W:61T:#H@,24[(&1I3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\ M9&EV/B0\+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T M.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@ M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H M.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE M.B`Q,'!T.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!A;&EG;CTS1')I M9VAT('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=W:61T:#H@,24[(&1I3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z M(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O M='1O;2!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#DE.R!F M;VYT+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[ M)SX\9&EV/C,L,C@R+#8U,#PO9&EV/CPO=&0^/'1D(&YO=W)A<#TS1&YO=W)A M<"!V86QI9VX],T1B;W1T;VT@3H@=&EM97,@;F5W(')O;6%N.R!F;VYT M+7-I>F4Z(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/"]T3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I M>F4Z(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS M1&)O='1O;2!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#DE M.R!F;VYT+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P M<'0[)SX\9&EV/B@W.#$L.3`T/"]D:78^/"]T9#X\=&0@;F]W3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\ M9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O='1O;2!S='EL M93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#DE.R!F;VYT+69A;6EL M>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV/B@W M,C0L-C(V/"]D:78^/"]T9#X\=&0@;F]W6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[('1E>'0M:6YD96YT.B`P<'0[(&1I3H@=&EM97,@;F5W(')O;6%N.R!M87)G:6XM;&5F=#H@ M,'!T.R!F;VYT+7-I>F4Z(#$P<'0[(&UA6QE/3-$)W!A9&1I;F6QE/3-$)V)O"!S;VQI9#L@=&5X="UA M;&EG;CH@6QE/3-$)V)O"!S;VQI M9#L@=&5X="UA;&EG;CH@;&5F=#L@=VED=&@Z(#$E.R!F;VYT+69A;6EL>3H@ M=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV/B8C,38P M.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=B;W)D M97(M8F]T=&]M.B!B;&%C:R`R<'@@'0M86QI9VXZ(')I9VAT M.R!W:61T:#H@.24[(&9O;G0M9F%M:6QY.B!T:6UE6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('1E>'0M:6YD96YT.B`P<'0[(&1I3H@=&EM97,@;F5W(')O;6%N.R!M87)G:6XM;&5F M=#H@,'!T.R!F;VYT+7-I>F4Z(#$P<'0[(&UA6QE/3-$)W!A9&1I;F3H@=&EM97,@;F5W(')O M;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV/B0\+V1I=CX\+W1D/CQT9"!V M86QI9VX],T1B;W1T;VT@#L@=VED=&@Z(#$E.R!F;VYT M+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\ M9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O='1O;2!S='EL M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`T<'@@9&]U8FQE.R!T97AT+6%L M:6=N.B!L969T.R!W:61T:#H@,24[(&9O;G0M9F%M:6QY.B!T:6UE3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[ M)SX\9&EV/C0S+#$S-BPY-38\+V1I=CX\+W1D/CQT9"!N;W=R87`],T1N;W=R M87`@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M('!A9&1I;F6QE/3-$)W=I9'1H.B`W-B4[(&1I6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I M;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXF(S$V,#L\ M+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ M('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXF(S$V M,#L\+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA M;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT M9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R M;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D M/CPO='(^/"]T86)L93X\+V1I=CX\+V1I=CX\9&EV('-T>6QE/3-$)W1E>'0M M:6YD96YT.B`P<'0[(&1I3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UE MF4Z(#$P M<'0[(&UA65AF$@&EM871E;'D@)#(X+#`P,"!T;R!T:&4@4&%R=&YEF$@3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UE MF4Z(#$P M<'0[(&UA3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`Q.'!T.R!D:7-P;&%Y.B!B;&]C:SL@9F]N="UF M86UI;'DZ(%1I;65S($YE=R!2;VUA;CL@;6%R9VEN+6QE9G0Z(#(W<'0[(&9O M;G0M6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD M96YT.B`P<'0[(&1I7!E.B!T97AT M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6QE/3-$)V1I6QE/3-$)W1E>'0M86QI M9VXZ(&IU'0M:6YD96YT.B`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`Q,'!T.R<^/&1I=CX\+V1I=CX\+W1D M/CQT9"!V86QI9VX],T1B;W1T;VT@#L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE M.B`Q,'!T.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!C;VQS<&%N/3-$ M,B!V86QI9VX],T1B;W1T;VT@6QE/3-$)W1E>'0M86QI9VXZ M(&-E;G1E3H@8FQO8VL[(&9O M;G0M9F%M:6QY.B!T:6UE3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I M>F4Z(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS M1&)O='1O;2!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,G!X.R!F;VYT+69A M;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV M/B8C,38P.SPO9&EV/CPO=&0^/'1D(&-O;'-P86X],T0R('9A;&EG;CTS1&)O M='1O;2!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R<'@@6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('1E>'0M:6YD96YT.B`P<'0[(&1I3H@=&EM97,@;F5W(')O;6%N.R!M87)G:6XM;&5F=#H@,'!T.R!F;VYT M+7-I>F4Z(#$P<'0[(&UA3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV M/B0\+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF M86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I M=CXD/"]D:78^/"]T9#X\=&0@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@.24[(&9O;G0M9F%M:6QY.B!T:6UE M3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\ M9&EV/B8C,38P.SPO9&EV/CPO=&0^/"]T6QE/3-$)W=I M9'1H.B`W-B4[)SX\9&EV/CQD:78@3H@8FQO8VL[(&9O;G0M9F%M M:6QY.B!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF M86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I M=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T M.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@ M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('1E>'0M:6YD M96YT.B`P<'0[(&1I3H@=&EM97,@ M;F5W(')O;6%N.R!M87)G:6XM;&5F=#H@,'!T.R!F;VYT+7-I>F4Z(#$P<'0[ M(&UA#L@=VED=&@Z M(#$E.R!F;VYT+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z M(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O M='1O;2!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R<'@@'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I M;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXF(S$V,#L\ M+V1I=CX\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@3H@=&EM97,@;F5W(')O;6%N.R!F;VYT M+7-I>F4Z(#$P<'0[)SX\9&EV/C$R+#`X-RPR.#`\+V1I=CX\+W1D/CQT9"!N M;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)V)O"!S M;VQI9#L@=&5X="UA;&EG;CH@;&5F=#L@=VED=&@Z(#$E.R!F;VYT+69A;6EL M>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV/B8C M,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=B M;W)D97(M8F]T=&]M.B!B;&%C:R`R<'@@'0M86QI9VXZ(')I M9VAT.R!W:61T:#H@.24[(&9O;G0M9F%M:6QY.B!T:6UE#L@=VED=&@Z(#$E.R!F;VYT M+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\ M9&EV/B8C,38P.SPO9&EV/CPO=&0^/"]T6QE/3-$)W=I M9'1H.B`W-B4[)SX\9&EV/CQD:78@3H@8FQO8VL[(&9O;G0M9F%M M:6QY.B!T:6UE3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z M(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O M='1O;2!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#DE.R!F M;VYT+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[ M)SX\9&EV/C$Q,RPQ,C6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N M="US:7IE.B`Q,'!T.R<^/&1I=CXF(S$V,#L\+V1I=CX\+W1D/CQT9"!V86QI M9VX],T1B;W1T;VT@3H@=&EM97,@;F5W(')O M;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^ M/"]T#L@ M=VED=&@Z(#6QE/3-$)V)O"!S;VQI9#L@=&5X M="UA;&EG;CH@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)V)O"!S;VQI9#L@=&5X="UA;&EG;CH@;&5F=#L@=VED=&@Z M(#$E.R!F;VYT+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z M(#$P<'0[)SX\9&EV/B8C,38P.SPO9&EV/CPO=&0^/'1D('9A;&EG;CTS1&)O M='1O;2!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R<'@@'0M86QI9VXZ(')I9VAT.R!W:61T:#H@.24[(&9O;G0M9F%M:6QY.B!T M:6UE#L@=VED M=&@Z(#6QE/3-$)V)O"!D;W5B;&4[('1E M>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S M(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXD/"]D:78^/"]T M9#X\=&0@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)V)O"!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@ M.24[(&9O;G0M9F%M:6QY.B!T:6UE6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[('!A9&1I;F6QE/3-$)V)O"!D;W5B;&4[ M('1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I M;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^/&1I=CXD/"]D:78^ M/"]T9#X\=&0@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)V)O"!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT.R!W:61T M:#H@.24[(&9O;G0M9F%M:6QY.B!T:6UE#L@=VED=&@Z(#$E.R!F;VYT M+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SX\ M9&EV/B8C,38P.SPO9&EV/CPO=&0^/"]T3H@8FQO M8VL[)SX\8G(@+SX\+V1I=CX\+V1I=CX\9&EV('-T>6QE/3-$)W1E>'0M86QI M9VXZ(&IU'0M:6YD96YT.B`Q.'!T.R!D:7-P;&%Y.B!B;&]C M:SL@9F]N="UF86UI;'DZ(%1I;65S($YE=R!2;VUA;CL@;6%R9VEN+6QE9G0Z M(#(W<'0[(&9O;G0M2`Q-2P@,C`Q,RP@=&AE(%!A2P@=&AE(&5Q=6EP M;65N="!W87,@;&5A'!I6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M M:6YD96YT.B`Q.'!T.R!D:7-P;&%Y.B!B;&]C:SL@9F]N="UF86UI;'DZ(%1I M;65S($YE=R!2;VUA;CL@;6%R9VEN+6QE9G0Z(#(W<'0[(&9O;G0M6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`Q.'!T M.R!D:7-P;&%Y.B!B;&]C:SL@9F]N="UF86UI;'DZ(%1I;65S($YE=R!2;VUA M;CL@;6%R9VEN+6QE9G0Z(#(W<'0[(&9O;G0M3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA'10 M87)T7S0V-#9F9C$V7S0R-3=?-&8R,5]B,3@W7S$P-V4Q83'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$'0^/&1I=CX\9&EV M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('1E>'0M:6YD96YT.B`P<'0[ M(&1I6QE/3-$)V1I3H@:6YL:6YE M.R!F;VYT+69A;6EL>3H@5&EM97,@3F5W(%)O;6%N.R!F;VYT+7-I>F4Z(#$P M<'0[(&9O;G0M=V5I9VAT.B!B;VQD.R<^3F5T($EN=F5S=&UE;G0@:6X@1FEN M86YC92!,96%S97,\+V9O;G0^/"]D:78^/&1I=B!S='EL93TS1"=T97AT+6%L M:6=N.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@,'!T.R!D:7-P;&%Y.B!B;&]C M:SL@;6%R9VEN+6QE9G0Z(#!P=#L@;6%R9VEN+7)I9VAT.B`P<'0[)SXF(S$V M,#L\+V1I=CX\9&EV('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`Q.'!T.R!D:7-P;&%Y.B!B;&]C:SL@9F]N="UF86UI;'DZ M(%1I;65S($YE=R!2;VUA;CL@;6%R9VEN+6QE9G0Z(#,V<'0[(&9O;G0M6QE/3-$)W1E>'0M:6YD96YT.B`P<'0[(&1I3H@:6YL M:6YE.R!F;VYT+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z M(#$P<'0[)SXF(S$V,#L@/"]T9#X\=&0@=F%L:6=N/3-$8F]T=&]M('-T>6QE M/3-$)V1I6QE/3-$)V1I6QE/3-$)W!A9&1I;F#L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R M;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X\=&0@8V]L6QE/3-$)V)O"!S;VQI9#LG/CQD:78@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;FF4Z(#$P<'0[)SXF(S$V,#L\+W1D/CQT9"!C;VQS<&%N M/3-$,B!V86QI9VX],T1B;W1T;VT@'0M:6YD96YT.B`P<'0[(&1I3H@=&EM97,@;F5W(')O;6%N.R!M87)G:6XM;&5F=#H@,'!T.R!F M;VYT+7-I>F4Z(#$P<'0[(&UA#L@ M9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T M.R<^)B,Q-C`[/"]T9#X\+W1R/CQT6QE/3-$)W=I9'1H.B`Q)3L@9&ES<&QA>3H@:6YL:6YE.R!F;VYT+69A M;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V M,#L\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@3H@=&EM97,@;F5W(')O M;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SXD/"]T9#X\=&0@=F%L:6=N/3-$8F]T M=&]M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@.24[(&9O M;G0M9F%M:6QY.B!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T M.R<^)B,Q-C`[/"]T9#X\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T M;VT@3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P M<'0[)SXF(S$V,#L\+W1D/CPO='(^/'1R(&)G8V]L;W(],T1W:&ET93X\=&0@ M86QI9VX],T1L969T('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=W:61T:#H@ M-S8E.R<^/&1I=B!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!T97AT+6EN M9&5N=#H@,'!T.R!D:7-P;&%Y.B!B;&]C:SL@9F]N="UF86UI;'DZ('1I;65S M(&YE=R!R;VUA;CL@;6%R9VEN+6QE9G0Z(#!P=#L@9F]N="US:7IE.B`Q,'!T M.R!M87)G:6XM6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R M;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X\=&0@=F%L:6=N M/3-$8F]T=&]M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@ M.24[(&9O;G0M9F%M:6QY.B!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q M)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q M,'!T.R<^)B,Q-C`[/"]T9#X\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B M;W1T;VT@3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I M>F4Z(#$P<'0[)SXS,C@L,3DR/"]T9#X\=&0@;F]W3H@8FQO8VL[(&9O;G0M9F%M:6QY M.B!T:6UE6QE/3-$)W=I9'1H.B`Q)3L@9&ES<&QA>3H@:6YL:6YE.R!F;VYT M+69A;6EL>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SXF M(S$V,#L\+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@3H@=&EM97,@;F5W M(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V,#L\+W1D/CQT9"!V86QI M9VX],T1B;W1T;VT@3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z M(#$P<'0[)SXF(S$V,#L\+W1D/CQT9"!A;&EG;CTS1')I9VAT('9A;&EG;CTS M1&)O='1O;2!S='EL93TS1"=W:61T:#H@,24[(&1I6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S M(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X\=&0@ M=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W M:61T:#H@.24[(&9O;G0M9F%M:6QY.B!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I M9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US M:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X\+W1R/CQT#L@=VED=&@Z(#3H@8FQO8VL[(&9O;G0M9F%M:6QY.B!T:6UE'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I M;65S(&YE=R!R;VUA;CL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X\ M=&0@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)V)O"!S;VQI9#L@=&5X="UA;&EG;CH@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O"!S;VQI M9#L@=&5X="UA;&EG;CH@;&5F=#L@=VED=&@Z(#$E.R!F;VYT+69A;6EL>3H@ M=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V,#L\+W1D M/CQT9"!V86QI9VX],T1B;W1T;VT@3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P M<'0[)SXH,30L,#`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`],T1N;W=R87`@ M=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I M9'1H.B`Q)3L@9F]N="UF86UI;'DZ('1I;65S(&YE=R!R;VUA;CL@9F]N="US M:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X\=&0@=F%L:6=N/3-$8F]T=&]M('-T M>6QE/3-$)W=I9'1H.B`Q)3L@9&ES<&QA>3H@:6YL:6YE.R!F;VYT+69A;6EL M>3H@=&EM97,@;F5W(')O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V,#L\ M+W1D/CQT9"!V86QI9VX],T1B;W1T;VT@3H@=&EM97,@;F5W(')O;6%N M.R!F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V,#L\+W1D/CQT9"!V86QI9VX],T1B M;W1T;VT@3H@8FQO8VL[)SX\8G(@+SX\+V1I M=CX\+V1I=CX\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA3H@8FQO M8VL[(&UA3H@:6YL:6YE.R!F;VYT+69A;6EL>3H@5&EM M97,@3F5W(%)O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[(&9O;G0M=V5I9VAT.B!B M;VQD.R<^*#8I)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[(#PO9F]N M=#X\9F]N="!S='EL93TS1"=D:7-P;&%Y.B!I;FQI;F4[(&9O;G0M9F%M:6QY M.B!4:6UE3L@=&5X="UI;F1E;G0Z(#$X<'0[(&1I3H@5&EM97,@3F5W(%)O;6%N.R!M87)G:6XM;&5F=#H@ M,S9P=#L@9F]N="US:7IE.B`Q,'!T.R!M87)G:6XM3H@8FQO8VL[)SX\ M8G(@+SX\+V1I=CX\9&EV('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`Q.'!T.R!D:7-P;&%Y.B!B;&]C:SL@9F]N="UF86UI M;'DZ(%1I;65S($YE=R!2;VUA;CL@;6%R9VEN+6QE9G0Z(#,V<'0[(&9O;G0M M3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\T-C0V9F8Q-E\T,C4W M7S1F,C%?8C$X-U\Q,#=E,6$W-34P9#<-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO-#8T-F9F,39?-#(U-U\T9C(Q7V(Q.#=?,3`W93%A-S4U,&0W M+U=O'0O M:'1M;#L@8VAA'0^/&1I=CX\9&EV('-T>6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('1E>'0M:6YD96YT.B`P<'0[(&1I6QE/3-$)V1I3H@:6YL:6YE.R!F;VYT+69A M;6EL>3H@5&EM97,@3F5W(%)O;6%N.R!F;VYT+7-I>F4Z(#$P<'0[(&9O;G0M M=V5I9VAT.B!B;VQD.R<^4F5V;VQV:6YG($QI;F4@;V8@0W)E9&ET+"!296-O M=7)S93PO9F]N=#X\+V1I=CX\9&EV('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU M'0M:6YD96YT.B`P<'0[(&1I3L@=&5X="UI;F1E M;G0Z(#$X<'0[(&1I3H@5&EM97,@ M3F5W(%)O;6%N.R!M87)G:6XM;&5F=#H@,S9P=#L@9F]N="US:7IE.B`Q,'!T M.R!M87)G:6XM2`Q,"P@,C`Q,2P@=&AE(%!A M2!A3L@=&5X="UI;F1E;G0Z(#$X<'0[(&1I M3H@5&EM97,@3F5W(%)O;6%N.R!M M87)G:6XM;&5F=#H@,S9P=#L@9F]N="US:7IE.B`Q,'!T.R!M87)G:6XM2!H87,@8F5E;B!E>'1E;F1E9"!T:')O M=6=H($UA2!T;R!B96%R(&EN=&5R97-T(&%T('1H92!, M;VYD;VX@26YT97)B86YK($]F9F5R960@4F%T92`H(DQ)0D]2(BD@<&QU2!A2!A;B!A;FYU86QI>F5D M(#`N-24@9F5E(&]N('5N=7-E9"!C;VUM:71M96YT2!A;F0@=&AE M(%!A6QE/3-$)W1E>'0M:6YD96YT.B`P<'0[(&1I3H@8FQO8VL[ M(&9O;G0M9F%M:6QY.B!4:6UEF4Z(#$P<'0[(&UA7!E.B!T97AT+VAT;6P[ M(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@ M/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E M>'0O:'1M;#L@8VAA'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$6QE/3-$)V1I6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P<'0[(&1I3L@=&5X="UI;F1E;G0Z(#$X<'0[ M(&1I3H@5&EM97,@3F5W(%)O;6%N M.R!M87)G:6XM;&5F=#H@,S9P=#L@9F]N="US:7IE.B`Q,'!T.R!M87)G:6XM M2X@061D:71I;VYA;&QY+"!T:&4@1V5N M97)A;"!087)T;F5R)W,@:6YT97)E3H@8FQO8VL[)SX\ M8G(@+SX\+V1I=CX\9&EV('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`Q.'!T.R!D:7-P;&%Y.B!B;&]C:SL@9F]N="UF86UI M;'DZ(%1I;65S($YE=R!2;VUA;CL@;6%R9VEN+6QE9G0Z(#,V<'0[(&9O;G0M M'!E;G-E XML 20 R28.htm IDEA: XBRL DOCUMENT

Net Investment in Finance Lease (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Net Investment in Finance Lease [Abstract]
Minimum rents receivable	$ 36,889,425	$ 38,214,311
Estimated residual value	328,192	328,192
Initial direct costs	561,450	589,698
Unearned income	(13,255,153)	(14,005,501)
Net investment in finance lease	$ 24,523,914	$ 25,126,700

- Definition

The remaining (unamortized) difference between the gross investment in a direct financing lease and the cost or carrying amount, if different, of the leased property as of the balance sheet date.

+ References+ Details

- Definition

Remaining unamortized costs as of the balance sheet date that were essential to acquiring the lease, and that would not otherwise have been incurred without the lease agreement, including evaluating the lessee's credit condition, guarantees, and collateral and costs incurred negotiating, processing, and closing the lease agreement.

+ References+ Details

XML 21 R30.htm IDEA: XBRL DOCUMENT

Revolving Line of Credit, Recourse (Details) (USD $)	3 Months Ended
Revolving Line of Credit, Recourse (Details) (USD $)	Mar. 31, 2013
Revolving Line of Credit, Recourse [Abstract]
Initial borrowing capacity	$ 5,000,000
Maximum borrowing capacity	10,000,000
Number of separate non-prime rate advances	5
Basis spread (in hundredths)	2.50%
Minimum interest rate (in hundredths)	4.00%
Commitment fee (in hundredths)	0.50%
Outstanding borrowings under the facility	$ 0

XML 22 R31.htm IDEA: XBRL DOCUMENT

Transactions with Related Parties (Details) (USD $)

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Dec. 31, 2012

May 09, 2013

Subsequent Event [Member]

Mar. 31, 2013

ICON Capital, LLC [Member]

Mar. 31, 2012

ICON Capital, LLC [Member]

Mar. 31, 2013

ICON Securities [Member]

Mar. 31, 2012

ICON Securities [Member]

May 09, 2013

ICON Securities [Member]

Subsequent Event [Member]

Mar. 31, 2013

Fund Fourteen [Member]

Mar. 31, 2012

Fund Fourteen [Member]

Transactions with Related Parties [Abstract]

General Partner distributions

$ 30,789

$ 8,095

Net income (loss) allocated to General Partner

10,103

(148)

Fees and expenses paid or accrued [Abstract]

Organizational and offering expenses reimbursements

142,024

^[1]

202,200

^[1]

Dealer-manager fees

642,252

^[2]

1,102,522

^[2]

309,677

Acquisition fees

1,290,123

^[3]

658,377

^[3]

Management fees

209,491

26,817

209,491

^[4]

26,817

^[4]

Administrative expense reimbursements

969,695

419,085

969,695

^[4]

419,085

^[4]

Interest expense

1,028,124

188,093

95,279

^[4]

119,000

^[4]

Total

3,348,864

2,528,001

Due to general partner and affiliates

3,067,224

3,041,918

Note payable

2,497,000

2,442,000

Sale of limited partnership interests

$ 22,464,607

$ 37,118,509

$ 11,144,933

[1]	Amount capitalized and amortized to partners' equity.
[2]	Amount charged directly to partners' equity
[3]	Amount capitalized and amortized to operations.
[4]	Amount charged directly to operations.

XML 23 R8.htm IDEA: XBRL DOCUMENT

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2013
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying consolidated financial statements of the Partnership have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission for Quarterly Reports on Form 10-Q. In the opinion of the General Partner, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included. These consolidated financial statements should be read together with the consolidated financial statements and notes included in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2012. The results for the interim period are not necessarily indicative of the results for the full year. Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve The Investment Manager weighs all credit decisions based on a combination of external credit ratings as well as internal credit evaluations of all borrowers. A borrower's credit is analyzed using those credit ratings as well as the borrower's financial statements and other financial data deemed relevant. As the Partnership's financing receivables, generally finance leases and notes receivable, are limited in number, the Investment Manager is able to estimate the credit loss reserve based on a detailed analysis of each financing receivable as opposed to using portfolio-based metrics and credit loss reserve. Financing receivables are analyzed quarterly and categorized as either performing or non-performing based on payment history. If a financing receivable becomes non-performing due to a borrower's missed scheduled payments or failed financial covenants, the Investment Manager analyzes whether a credit loss reserve should be established or whether the financing receivable should be restructured. Material events would be specifically disclosed in the discussion of each financing receivable held. Notes receivable are generally placed in a non-accrual status when payments are more than 90 days past due. Additionally, the Investment Manager periodically reviews the creditworthiness of companies with payments outstanding less than 90 days and based upon the Investment Manager's judgment, these accounts may be placed in a non-accrual status. In accordance with the cost recovery method, payments received on non-accrual loans are applied to principal if there is doubt regarding the ultimate collectability of principal. If collection of the principal of non-accrual loans is not in doubt, interest income is recognized on a cash basis. Loans in non-accrual status may not be restored to accrual status until all delinquent payments have been received, and the Partnership believes recovery of the remaining unpaid receivable is probable. The Partnership charges off a loan in the period that it is deemed uncollectible and records a reduction in the allowance for loan losses and the balance of the loan.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

XML 24 R32.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Details) (USD $)					3 Months Ended
Fair Value Measurements (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2013 Carrying Value [Member]	Mar. 31, 2013 Fair Value [Member] Level 3 [Member]	Mar. 31, 2013 Minimum [Member]	Mar. 31, 2013 Maximum [Member]
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate on fixed notes receivable (in hundredths)					12.25%	17.00%
Discount rate on non recourse debt (in hundredths)	4.60%
Carrying value and fair value of notes receivable [Abstract]
Principal outstanding on fixed rate notes receivable			$ 47,556,251	$ 47,936,951
Principal outstanding on fixed rate non-recourse debt	67,520,833	69,250,000	67,520,833	68,882,732
Seller's credit			$ 5,752,441	$ 5,752,441

XML 25 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (unaudited) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Assets
Cash	$ 44,332,819	$ 37,990,933
Net investment in notes receivable	50,484,880	43,136,956
Leased equipment at cost (less accumulated depreciation of $4,721,594 and $2,167,417, respectively)	108,405,895	98,872,792
Net investment in finance leases	24,523,914	25,126,700
Deferred charges	412,892	832,164
Other assets	2,880,304	2,314,802
Total assets	231,040,704	208,274,347
Liabilities:
Non-recourse long-term debt	67,520,833	69,250,000
Due to General Partner and affiliates, net	3,067,224	3,041,918
Accrued expenses and other liabilities	8,819,134	6,059,960
Total liabilities	79,407,191	78,351,878
Commitments and contingencies (Note 10)
Partners' equity
Limited partners	141,403,648	123,633,993
General Partner	(127,578)	(106,892)
Total partners' equity	141,276,070	123,527,101
Noncontrolling interests	10,357,443	6,395,368
Total equity	151,633,513	129,922,469
Total liabilities and equity	$ 231,040,704	$ 208,274,347

XML 26 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statement of Cash Flows (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash flows from operating activities:
Net income (loss)	$ 1,246,681	$ (157,832)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Finance income	172,974	64,090
Depreciation	2,554,177	0
Interest expense from amortization of debt financing costs	56,921	2,478
Interest expense from amortization of seller's credit	69,801	0
Paid-in-kind interest	54,470	0
Changes in operating assets and liabilities:
Other assets	(658,325)	9,871
Deferred revenue	124,448	22,400
Due to General Partner and affiliates, net	(61,188)	(128,825)
Accrued expenses and other liabilities	2,611,719	(225,517)
Net cash provided by (used in) operating activities	6,171,678	(413,335)
Cash flows from investing activities:
Purchase of equipment	(12,087,280)	0
Principal received on finance leases	574,539	105,222
Investment in notes receivable	(7,726,224)	(14,560,686)
Principal received on notes receivable	222,681	60,417
Net cash used in investing activities	(19,016,284)	(14,395,047)
Cash flows from financing activities:
Repayment of non-recourse long-term debt	(1,729,167)	0
Sale of limited partnership interests	22,464,607	37,118,509
Sales and offering expenses paid	(2,085,757)	(3,617,390)
Deferred charges paid	(110,000)	(204,151)
Investment by noncontrolling interests	3,902,480	117,500
Distributions to noncontrolling interests	(176,796)	0
Cash distributions to partners	(3,078,875)	(809,550)
Net cash provided by financing activities	19,186,492	32,604,918
Net increase in cash	6,341,886	17,796,536
Cash, beginning of period	37,990,933	5,383,978
Cash, end of period	44,332,819	23,180,514
Supplemental disclosure of cash flow information:
Cash paid for interest	799,426	0
Supplemental disclosure of cash flow information:
Organizational and offering expenses due to Investment Manager	32,025	1,951
Organizational and offering expenses charged to equity	561,296	241,922
Dealer-manager fees due to ICON Securities	$ 0	$ 31,889

XML 27 R22.htm IDEA: XBRL DOCUMENT

Transactions with Related Parties (Tables)

3 Months Ended

Mar. 31, 2013

Transactions with Related Parties [Abstract]

Fees and Expenses Paid or Accrued

			Three Months Ended March 31,
Entity	Capacity	Description	2013		2012
		Organizational and offering
ICON Capital, LLC	Investment Manager	expense reimbursements (1)	$	142,024	$	202,200
ICON Securities, LLC	Dealer-Manager	Dealer-manager fees (2)		642,252		1,102,522
ICON Capital, LLC	Investment Manager	Acquisition fees (3)		1,290,123		658,377
ICON Capital, LLC	Investment Manager	Management fees (4)		209,491		26,817
		Administrative expense
ICON Capital, LLC	Investment Manager	reimbursements (4)		969,695		419,085
Fund Fourteen	Noncontrolling Interest	Interest expense (4)		95,279		119,000
			$	3,348,864	$	2,528,001

(1) Amount capitalized and amortized to partners' equity.

(2) Amount charged directly to partners' equity.

(3) Amount capitalized and amortized to operations.

(4) Amount charged directly to operations.

XML 28 R24.htm IDEA: XBRL DOCUMENT

Organization (Details) (USD $)	3 Months Ended
Organization (Details) (USD $)	Mar. 31, 2013 Partner	Mar. 31, 2012	Nov. 17, 2011	Jul. 28, 2011	Sep. 23, 2010
Initial capitalization					$ 1,001
Limited partnership interests authorized offering	418,000,000
Limited partnership interests authorized offering (in units)	420,000
Maximum offering of partnership interests	618,000,000
Maximum offering of partnership interests (in units)	620,000
Proceeds from sale of limited partnership interests as of the Initial Closing Date				1,200,000
Initial capital contribution returned to ICON Capital Corp.				1,000
Sale of partnership interests (in units)	173,615
Number of limited partners	4,148
Sale of limited partnership interests	22,464,607	37,118,509
Minimum initial capitalization from Commonwealth of Pennsylvania and State of Tennessee			20,000,000
Sales commissions to third parties	11,583,799
Underwriting fees	5,071,428
Organizational and offering expenses	2,629,880
Organizational and offering expenses charged to equity	2,216,988
Percentage of cumulative annual return on aggregate unreturned capital contributions (in hundredths)	8.00%
Limited Partner [Member]
Allocation of profits, losses, cash distributions and liquidation proceeds (in hundredths)	99.00%
Sale of partnership interests (in units)	22,643
Sale of limited partnership interests	$ 172,906,128
Allocation of profits, losses, cash distributions and liquidation proceeds after cash distributions paid (in hundredths)	90.00%
General Partner [Member]
Allocation of profits, losses, cash distributions and liquidation proceeds (in hundredths)	1.00%
Allocation of profits, losses, cash distributions and liquidation proceeds after cash distributions paid (in hundredths)	10.00%
Distribution Reinvestment Plan [Member]
Limited partnership interests authorized offering (in units)					20,000

XML 29 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'

'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'

'+ "\n"+' '+ "\n"+'

'+ "\n"+'

'+raw+'

'+ "\n"+'

'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 30 R7.htm IDEA: XBRL DOCUMENT

Organization

3 Months Ended

Mar. 31, 2013

Organization [Abstract]

Organization

(1)	Organization

ICON ECI Fund Fifteen, L.P. (the "Partnership") was formed on September 23, 2010 as a Delaware limited partnership. The initial capitalization of the Partnership was $1,001. The Partnership will continue until December 31, 2025, unless terminated sooner. The Partnership is offering limited partnership interests ("Interests") on a "best efforts" basis with the intention of raising up to $418,000,000 of capital, consisting of 420,000 Interests, of which 20,000 have been reserved for the Partnership's distribution reinvestment plan (the "DRIP Plan"). The DRIP Plan allows limited partners to purchase Interests with distributions received from the Partnership and/or certain affiliates of the Partnership.

With the proceeds from Interests sold, the Partnership will (i) primarily originate or acquire a diverse pool of investments in domestic and global companies, which investments will primarily be structured as debt and debt-like financings (such as loans and leases) that are collateralized by equipment and other corporate infrastructure (collectively, "Capital Assets") utilized by such companies to operate their businesses, as well as other strategic investments in or collateralized by Capital Assets that ICON GP 15, LLC, a Delaware limited liability company and the general partner of the Partnership (the "General Partner"), believes will provide the Partnership with a satisfactory, risk-adjusted rate of return, (ii) pay fees and expenses, and (iii) establish a cash reserve. The General Partner will make investment decisions on behalf of and manage the business of the Partnership. Additionally, the General Partner has a 1% interest in the profits, losses, cash distributions and liquidation proceeds of the Partnership.

As of July 28, 2011 (the "Initial Closing Date"), the Partnership raised a minimum of $1,200,000 from the sale of Interests, at which time the Partnership commenced operations. Upon the commencement of operations on the Initial Closing Date, the Partnership returned the initial capital contribution of $1,000 to ICON Capital, LLC, a Delaware limited liability company formerly known as ICON Capital Corp. and the investment manager of the Partnership (the "Investment Manager"). From the commencement of the Partnership's offering on June 6, 2011 through March 31, 2013, the Partnership sold 173,615 Interests to 4,148 limited partners, representing $172,906,128 of capital contributions. Investors from the Commonwealth of Pennsylvania and the State of Tennessee were not admitted until the Partnership raised total equity in the amount of $20,000,000, which the Partnership achieved on November 17, 2011. During the period from the Initial Closing Date through March 31, 2013, the Partnership paid or accrued the following commissions and fees in connection with its offering of Interests: (i) sales commissions to third parties in the amount of $11,583,799 and (ii) dealer-manager fees in the amount of $5,071,428 to ICON Securities, LLC, formerly known as ICON Securities Corp., an affiliate of the General Partner and the dealer-manager of the offering of the Interests ("ICON Securities"). In addition, during such period, the General Partner and its affiliates, on behalf of the Partnership, incurred organizational and offering expenses in the amount of $2,629,880. From the Initial Closing Date through March 31, 2013, organizational and offering expenses in the amount of $2,216,988 were recorded as a reduction of partners' equity.

Partners' capital accounts are increased for their initial capital contribution plus their proportionate share of earnings and decreased by their proportionate share of losses and distributions. Profits, losses, cash distributions and liquidation proceeds are allocated 99% to the limited partners and 1% to the General Partner until the aggregate amount of cash distributions paid to limited partners equals the sum of the limited partners' aggregate capital contributions, plus an 8% cumulative annual return on their aggregate unreturned capital contributions, compounded daily. After such time, distributions will be allocated 90% to the limited partners and 10% to the General Partner.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 852

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7668296&loc=d3e288-107754

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 720

-SubTopic 15

-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS140-4/FIN46(R)-8

-Paragraph 8, C1, C7

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 94-6

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 46R

-Paragraph 4, 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 272

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=7880789&loc=SL6228881-111685

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 2-6

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 915

-SubTopic 235

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

+ Details

XML 31 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (unaudited) (Parenthetical) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Assets
Leased equipment, accumulated depreciation	$ 4,721,594	$ 2,167,417

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References+ Details

XML 32 R17.htm IDEA: XBRL DOCUMENT

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2013
Subsequent Events [Abstract]
Subsequent Events	(11) Subsequent Events On April 2, 2013, the Partnership, through two joint ventures owned 55% by the Partnership and 45% by Fund Fourteen, purchased two chemical tanker vessels, the Ardmore Capella and Ardmore Calypso, from wholly-owned subsidiaries of Ardmore Shipholding Limited ("Ardmore"). Simultaneously, the vessels were bareboat chartered back to Ardmore for a period of five years. The purchase price for the vessels was funded by $8,850,000 in cash, $22,750,000 of financing through non-recourse long-term debt and $5,500,000 of financing through two subordinated, non-interest-bearing seller's credits. On April 5, 2013, the Partnership made a secured term loan in the amount of $13,500,000 to Lubricating Specialties Company ("LSC"). The loan bears interest at 13.5% per year and matures on August 1, 2018. The loan is secured by, among other things, a second priority security interest in and lien on LSC's liquid storage tanks, blending lines, packaging equipment, accounts receivable and inventory.

XML 33 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2013	May 09, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	ICON ECI FUND FIFTEEN, L.P.
Entity Central Index Key	0001502519
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		184,881
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2013

XML 34 R18.htm IDEA: XBRL DOCUMENT

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2013
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying consolidated financial statements of the Partnership have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission for Quarterly Reports on Form 10-Q. In the opinion of the General Partner, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included. These consolidated financial statements should be read together with the consolidated financial statements and notes included in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2012. The results for the interim period are not necessarily indicative of the results for the full year.
Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve	Credit Quality of Notes Receivable and Finance Leases and Credit Loss Reserve The Investment Manager weighs all credit decisions based on a combination of external credit ratings as well as internal credit evaluations of all borrowers. A borrower's credit is analyzed using those credit ratings as well as the borrower's financial statements and other financial data deemed relevant. As the Partnership's financing receivables, generally finance leases and notes receivable, are limited in number, the Investment Manager is able to estimate the credit loss reserve based on a detailed analysis of each financing receivable as opposed to using portfolio-based metrics and credit loss reserve. Financing receivables are analyzed quarterly and categorized as either performing or non-performing based on payment history. If a financing receivable becomes non-performing due to a borrower's missed scheduled payments or failed financial covenants, the Investment Manager analyzes whether a credit loss reserve should be established or whether the financing receivable should be restructured. Material events would be specifically disclosed in the discussion of each financing receivable held. Notes receivable are generally placed in a non-accrual status when payments are more than 90 days past due. Additionally, the Investment Manager periodically reviews the creditworthiness of companies with payments outstanding less than 90 days and based upon the Investment Manager's judgment, these accounts may be placed in a non-accrual status. In accordance with the cost recovery method, payments received on non-accrual loans are applied to principal if there is doubt regarding the ultimate collectability of principal. If collection of the principal of non-accrual loans is not in doubt, interest income is recognized on a cash basis. Loans in non-accrual status may not be restored to accrual status until all delinquent payments have been received, and the Partnership believes recovery of the remaining unpaid receivable is probable. The Partnership charges off a loan in the period that it is deemed uncollectible and records a reduction in the allowance for loan losses and the balance of the loan.

- Definition

Disclosure of accounting policy for credit risk.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 825

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6480020&loc=d3e61044-112788

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number SOP94-6-1

-Paragraph 7, 11

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 113

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 55

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6875567&loc=d3e14537-108613

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 825

-Section 55

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6487554&loc=d3e32600-158583

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 55

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6875567&loc=d3e14489-108613

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 01-6

-Paragraph 14

-Subparagraph m

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 21

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 20

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13531-108611

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 825

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6480020&loc=d3e61082-112788

+ Details

- Definition

Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 325

-SubTopic 20

-URI http://asc.fasb.org/subtopic&trid=2197087

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a(2)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 2-6

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-URI http://asc.fasb.org/subtopic&trid=2196966

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 860

-SubTopic 40

-Section 45

-URI http://asc.fasb.org/section&trid=2197723

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 5, 6, 16-19

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 46R

-Paragraph 4

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph k

-Article 1

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=16385135&loc=d3e33801-111570

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 46R

-Paragraph 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 46R

-Paragraph 4

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 140

-Paragraph 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.3A-02)

-URI http://asc.fasb.org/extlink&oid=6959686&loc=d3e355033-122828

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 96-16

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02, 03

-Article 3A

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 97-2

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

ZIP 35 0000947986-13-000133-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000947986-13-000133-xbrl.zip M4$L#!!0````(`$HPKT(TT'?D76,``)2(!``1`!P`:6-O:2TR,#$S,#,S,2YX M;6Q55`D``RQ=DU$L79-1=7@+``$$)0X```0Y`0``[%U[<^*XEO]_J_8[Z&9> M/540;`,)I!^WTDEG;FK2Z9ZD>W9OW=J:$K8`31N;D>PDS*??^]/3`/C0/"/-MWN-=[>Q#**I4VYP?_ M?/??__7F']7J+\QC@@;,(9T1.>?2=GT9"D9N?3<,H`=)/M]\NKB\^D#,P_JA M<6B0,W\X$KS7#XC9;C=)E5B&62=?^OY`^AZY86$`M,FI;3,WE(?DU'6)JBZ) M8)*).^8<5JM(_:$C7`+,>O($?_*W!_T@&)[4:O?W]X?XY-`7O9IE&/4:]V1` M/9L=1/5=[GV;41V+.U0FU1\FZM_756V0H%U3I4E5R8LJ0K=F[7\_7MW:?3:@ MU3P_2-Y)&V:Y.:KIPK@JEW[#,H]G":MK)`V\.R:#\;XELP][_EU-ET$STZH: M9K5NQHW`SCU*ATFK+I4=12$J*&CB,%Y,!`J**`1BJ@SM&I3&%;UP4%S1"40M M&`U9#6HPP>VD@>^5:.-[U5P[VP^]0(R*A8@*"P2Q0R%@@$QK%Y46-/0HMV5Q M*U6$3+&V!)@0S<]E.KPQ^>1M2`>8$\ MM/T!-JD;]:1!F3$*8YN0-SBH3J0:+C>L2]0@.T'3O3V0?#!T<>RH9WW!NF\/ MD)%J3.SP03H'I*8[4KX!C.L%["$@W'E[8*MZIF$&?L*>JIO4!O9Y,(J>)4^Y M@\^[G`FB&&-CTL2:.KO\]>"=`>.]:5A-L_VFEF\TK)<(^8YF29UL%U*V,DTB)]F2,>/(MW-5F?3:&^%$C7, M@D@?S:J1=AZ5K$8?VP*J<7UD\;%*?5BFM7WZL*KP[YKTD;@?:VN0,N9^K,7= MC[4^]Z/@]<=GX`&BT3,ZY`%US_S!T/=P(CI]X/*/*S[@$*9&=3ZR08>)9U![ MJDW6PUDR>1P5.,#&P]#E-@\TC\3A4$\'XU'P=3)+T(-W<:TBB=_4"HFDS-6* MN-O8433?[#H_<5^0V8LD?G%F_^('B0KDA[]"X'^7;8_1[\E4F5^<]:]]#UL) MWX4,H7<)[04D);L,@+C6+,EW"P:Y!&X_^6_.Y+_1>>H"J-G'#GO4+(Z:?>CQ M#*''KH!G'[D\9^2RT2C:!SD;%>0\S;KI/DK9L"AE8\R^#S.>=X7C>:V_CQ,V M9(5CC3`PM_&=F;G.=V;;\J9L;`5L;?@PC+95WS9]&%6C7;7J:]/';+=YSF4@ M>$?M3+MAZ5Z5SR[U=MEYJMESOO#/X#_7B`?3.+9:VS8^(.4\KEJM]644?D9Z8K9;?BLQ7@YU_,X]WNBT=,5@V[ MA1&(68WVWL?LMH]1,?ZZ]I&.OSS8(VGWD+3Y;QV$#\V#$28*`2@85]Z&*/+[ M48*MCU1PC_W.I&2NW&Y0E1`WPDZ!T#LV?>F]5GO[;[+]U[K)JNSX3YZ]`-O' ME7,RO]2AOS?]BQWUG[@+9G"=6R;NN,WD2X*"F@'F*."ENH0]+C8.%VOU%Y;9 M_..*]:C[0;&F,/"9BJTUN,/X24Z>U/=G!7N>`0ZV;#Z=(2^A6H)?0/V9+X8^ MGOEPZ74%U7ES*-A%"*FW'XJ`,>_J\P[970WH)93P8C!B\WAOSH[:?U+`7;3M M?H+?R@E^K;C`A."&>KUHL8=[?!`.MMO6B3CIS#XFUV[%[A,FI`^[:<*L7+MF MPO%W03?,I='N]]$703U)U?L+B2\[TI)D>HZV!EVY6_[.I[S8F:D[+_S^W4[^ M")(]G+8-3IMU!,N2WNF6V:'@`6=;_O+H47#*"[_W3LMZISV'TQVW8D>RO$'3SX0[^D^3%N>?;#;XI0J;!=J&T\]#V,N`/KK&QN#?- M'D>X(9-S=D5SN^&\,)@F1=]/S,M,S'LH/3>4-GM2WD^JCYY47^(S7P@"T.X7E(O?J1NR]Z/WU,4SXV_[C`6_"#\<JY\4=PLJ:M?>LRP%L@\RX`,`_*=N MTL54Q66I)#__!7"@PNZ/KM@=L,PD*J@_M)!NHBB5[DH4;D'!8SX?- M>.?>RP!G>6CD];)*=[K9"?%3H3/-;!"G.PV[[3#\"K*@+%I6O6ZVQ\@&8.3I MIJ[F'\E7[7KBDC+$F/E3]YQU(O'^T,O1/CINEE87`M<5U+9U=4ILV!'5 M;'8./:['VE=`70[)`P`'Y)#O(O[[5#`9=Q679;O'OJ;U;4WI.[JN\^3K[?EC MN\Z?`NCP.Q@P>?5AB^MP@->U^A.8*,U/5L'%/6;(G3//'P"09A*+QXUB_=]-*MO?1;!8[O.GPXWUO698`X/ MRG7]CVKU%(:Z@\.=7+BTIV[LA0),.9(2+"#1B+S!2SP++^;L4E>"(29:)I3. MU!6K0(=+F[KDWXP*\L%S",9;6;I1/5T-:WW0,=E\%JKQMY.SNDGX.??M4`G^ M6?F?0E[B.KI*:4:RZS=3NTD8T6D=^1_FNM5OGG_OD5NPFN\QAZ`;9R++D:Z, M=7_%JG%-77$^9]>^YFAF-WG.?O?=T(-8>@2V7Y.+K M]3FYN+SX\N'#=85<'7X^S#(UWNV$Y4"+`@;[I>>P!_(K*]!25$75@`KS&J9B%.)`##H`M_CVP#AX9[8:K98YQO(,"I->*NLV+^"A+/)3J;=35MB*B.1UYS#BJY5DIG?S")6,EU,,H,1=Q%U?#Z?H&E4?QLGB>W2N3$ZMHQ\ MIB,\DHR`;?#&>Q'"\+SBM,-=M7^Q$GNHF)/\N6=1^U//B5IG&L?.;9)9=1UW M%E)6#E*`I[99;[RI/8+>9@BI[QN>*>21T6RWCXSEA%39HT-8_/5GA8"G#0>A MV@0&](8"TT7<&U8@75SO/%,-?KL,?R#Y`6V6R/VW$9OH@?A>8Z@2D&R?@((D, MY(2>,FT^=9-L_0SKSG50,[70/&I;9D8',P@]MURYS:ASK-LX;BTHUD?J4;T: M1+J,3?(*R5:0UEF![BVCW6AGE5]`8:7<+:;!H];8Z%B$.17V1=_-0;1W=4;^ MHY>)_F\56EWZZ\59N4S*J7,?^L3O&Q68C2LP M':L`Z7NK`I-0!6:A"@&'.F1@P3OFCG[.BQ,;#RG+[`X:S=K[T4?ZIR_.7"KE M-7M4E&`:K8;1;+6;J=B+$=UB]91`1;O5.K:.V];2VHF:$=T.W`*NX3$2=4!4 M#Q42P;5[UW?_C8QB8WQ>>DEG:9]?NKJ M'M,.L3O5V_PL^T.WPNQ][P>OH)Y'!R&5O#[!=E;J\YYT0EW6#UT0]X1Z^ M1CPAQA">.%P.73HZ(1VD]IH,J.AQKXK5HQK1$\%[_>C104RK"[S%Q)*.N.=R MC[TF6%CMT@%WX>$7/@"57K-[52OXW.R&F(J,>W#--I>.[CB;SJOGS MCW0P?/V=>62\+ON+(',U[/$).44'>IE<)Y3"AT6`FN"I-M]J?X8RX-W1:@V7 M*FP9)LQ6$1>S53G&8_TH4696NU.X1NWR,>UV(^VZ>KC".)%_AV3F9)Z*?@5K@L9GK#JF#RXPJ8L2_Y9#:\=\1Y7ON M!'T4VO@AI[9`JV\#FS]9Z2[3!R+>-)2OB4R+U5]>,38@T?GLROK)[V M0LB+V>CXPF$BX:+C4HC5@!%LP?,M*L:=HO#:0,3X]@X?M'459:2DBW'T>Z?E1IM=J5AM5< MX;!:3ANS#+('R),#I%6QS$:E;IJ;#Y`IWO:^SP.VP[XV_NS6P05X[H341:'" M:)EG[VQ7RL)J!I75JIAM:_-'U!XF>YCLP]SIKO?2XP&^DW$XA+CZ%>K>ZV[J M<&H>F95&T]C\X;2'R;/"!/*AHW9K\V&RRG"W<"5DBQSQ5X]1@=_1<,_V!ZM8 M9IBED:=#]YS5.[(!`W`1%EEF(/PA_KJ')LK#*=?4H[ETU> MYJ\1K3CW+;_]8Y]^KR/]GL7#IF7@>VSLL5'"P=74;MSDKW5M_XU_3_DL8='M M_L4?(SC19QL5\HOPI:Q^I`)`3?0Q-W+JUW-93AS=@VI?_/E*J1N/->6(<(GO MY=ZUS*.FV:Z;Q?K)NXT6H_-Z\E/@TT#?P8VC(6X77:9LF97^]=A`$>IJ^;?J8C-9W? M)&T?H^?Z4:O5;EC3/B^>0_%IQ2EABGK+,AMU<\JD5UJ<:=NK9HISS8+T`[Q+ M[USM#TC.M-!UOGJ]D.)Y6HPY-U'7ZEH"%94A6.+1_RAC6BUSZK?0JV5OHU55 M!BC/H*K\)]*3GVQJ2B0AE50]9UTF!)X9J-YU+JWR\>QB ME[!UL]4^:D^)OI<5>][KIJ55\*A38!I-J]XVIYTJ48;L,PI8YM"'IFD='1O+ M0#GCUF1_4@C9?]1I'HVZFL"R?,G^XJ3*3)3'[;;1KM=GD%*'PJ@?F(;`[(]1 M507/EXFO,"._%X<$L@_Y#?XOT_`TB%NI1JOC>2ZI9Q3*+.%=ZJUZ>SRYWVR9 M'HWC31:JS`%M=;-E-,>]XHJ$BHYEA4A`H',AK\Z9_E5P]%(12=T^;AXW7NZT MO*-ZPVRUCN9)6TQZ@X1>Z!`^\_BX?=2L+RVU/QCP0!_LHX0'G@`/#.8/F+#* M'O"3=H(,9+M8XXD^"YP-,_:*9?:I+,5;>M2#L2-OINWR>64:>]J M%I=]Q\_%.0W483?XWDS]B*Y5D'T^)-2&<8`GKT*A[@X5;12:40 MYL7I7KQYOJ^[[OL<*TO-C<9])?J`#F/ MJ7,]P28!!-9,!!3`G&8P!4CFN#*JQH2#0!U``]4(1X+@M@(U3!\IZ#KZ/#DY M3J-#O6_RD-R,MU(8&@Z%_Z"6X]P1^?[(:E8,P]!G-C8-0_T!3`R!(![QX*A^ MH4@5H^XVIRS"47U,IL0(!!>-PX9`A'B*K0*#77,'P M-F-.O/:N^B+LP<:C/0$9B< M+!.#Q$44\GI(4,H(9WH].*Z?NC-HJD]\!)D5Z534DI`B]^B.QD$/F50*>M-H MX1]/";V"'1D+Q6=38T-[+#9\=>T'#(`V&0-/IU8R0WN0_,3C+BA#A.R`U)Z2 MH^+D?CI'ZCHD\AN,@&C2128DR;Q$0D;'3T+489]N>86O_&`0,7$WF2#Z'IZ$ MHZ?$&RZ_Z3;X:^5!M'8>6.&$8#3$[14'UM;Q(CYJI7K=IJ!:;P][,CW/3E64 M$\V\^="'>PNB,B%0-WAP6ZL;.>O4-SI4"1@<=O*$M.L09I&3"HTD; MH:Y2E!C1W4.0C/]787FF"D//G4:$2+#C"^'?P]1U2$Z3/S!`T"W0BT,'H[^! MB1!O+@;/[F.R/94FS@F9?M(H5:9GWB*P=(R2%D,H0D%NJ(%O'EU@%::='0HJ M%@/2J2P(VM)+'M(7\A"6]G0:`Y-E[@Q35+.GQGE:'Q(KP9*<"P("+\0I6`6W M*5(G09J6(2308<`LSZ)WQ3HYT9!PT5,([2FRZ'48!+LN_*7P)+E"(*,0$Q2) MA4CRAT-?ZG!"0P_O]^I"U.I7=;\#A@%S-'=-4B_,^RZ*=*ATDN#\KQ"TS@3H M4W6LK_#B6(*1'5>XA*=(% MC.H^T[E$H7EEWP]=!\-.Z`!XYI!!.$@R;J8.SBV2+6VIDJ70QGT<3J&"/L8Y M,;M3$MW'+>,86$'?T9&7QC22Q0>AE+&SG`JT/G.=N7YFDUS#IBPL+9U]/H-]CQU3.J+=R.X"W;'V;W,.-Y[<(Z0^T?YH:VN4>;Q4D/J#C+7XJEK M(L8X0G^GG5^XEO)<#4,1N9LY12-MC7,U:L$ MPV5QXJRNVP"(^&HA$Z:CON]44F4GJ3OH,JL&UZ=>-.<,AR[74]Q0,S)-&CPM'1%R.A&\VZP+H+27!FB3+IY)!<=N/RR`4&*H./B<"# M29:X5(N18#=%MY)=UU4;9M2*E^WW/#4=ZJ@4UZH`-!PBR"O=BUA[#[X85RK[V)\@>:-)T;M1_3JM8[PHZ@[]&+` MQ/D@JD\X>EW;"362HEXHGH:O1@.NP*O^,32(HDZ5!$2KBI'JLD]6#]S0**S_KA2J=*D4OA:+ESJ)+2+*%G^&7/5K?V[4-6Q@HJ;)M2ODW M(MS!X8@S!L["H^@.VJ)7-W+L(IB\'TO]W5"P(171G)J;B;X>WAYF(A.\E7CX M_^U]"W/;1I+P7T'IG+)=!2EX$\A=7*7(]IYN94MK*7OUU=:5"R*'(C8@P`"D M9.;7?]TS@R+(%Q@>V)ZE@N"<^'RK0VZ"'O>I&^5[LEP$="K-OK$IQ\@?+PG M0MOX.LP$QUG_$?M5K%5SB`KD,TPK8&?7E.T/1@<[6IZ!K$Z45^ZZ3J1JPA[A M>O,+FI>)`V8^*E8\W0!U`RBY*,4608!D\&QT,\1D)MKE8T2/ZCV"9^O8-AMA MM=%K"J(3;T:79#6`F.YBE/%7\&PG++VA2RUSVO.Q404^,5PB`C%ZSWK*9=PA6JP5%+W_!>P7(@+#S'%OXS?;^$"@5\%_A(5A@M\:SJ]_B[Q[.WG/U$\3+ MZO)EY0=P\&DQ0[7\A@8#T+O1=PC3V6=[2!W!L_>1)@33+D3EAW?\2ZHN5XV, MMV$4*(#".UP\_AL#3N@!X]@)`$"P'?P`_4OPJ;P+X9)?.-O/MN-2QXG%\N"P M$014%V2&8F>5T>$H=S[0\\"[9T`0'+G4\U%D!#VF9K:&F)RJSLNNHLH3WI"GBP5=5H9S59M,/1_'L'V&#O<5&(^\2DIK/H1#_%2(WVH M483W4=20F$\"?_$TR=[XZY3L#@^;N`^X%8MAD.Q MP)D"7@,V2N^@M^C&8_@:#L+&S46?"<3E?#8B(5`5)V-;:HR&2CP79[7TD5ER M?I+S;F-H8)1'M*EB7&P647?C>R,8D+;TQH`?X78\IF+C&T[_[NSF^K?;;[#[ M9^XB%)0+_2#G51CXALX"VICT.$A"J,>$(.$6W@)7>9B*,%@%%(1)/BY$Y$=?+X1: MDYE@N?1"%&%=NKL.HEG2F^T MH\NF;'A0B@OV'+Y38O'F3I'"&77/W@%6$^`5V*GS2;@2"H-C77MX@47S^?'- M>_KBK?=/$"0T[ZQD]J-@3I:.B)=/?L@74CI+.Z*,ZTD<&=W?BUTKOFK."ZM M-C.Z(P$>PME/=*YOZ.1'\]1*.J;YRD-6`K M)-Z9JB(;VG;`EG?]3O\&GUV"'V`8<"V"N?-764_T&CE,BJYK\B##&YNG;`_V M6JE(4@-0@S$^(UZX$@*9>:8]"BD`?_ M&S,6T,AP2&.;3Y6,@:*D&;K:7(=!J$IFK*3)EFQNCQ#FMH'M^X7>7:=N^T7A M]B6R[A+!>7Z_>`P)NY7]A.$XB4ZXOKK]2@-'T6#^O*#1I.,Y.(:B<'-S5:H[ MV/QL^F3V>.ZUJD.3E.\WY,EV/WES&(0JD&MXC$.!0'`8;MPAF_][@@"%/R[` ME/M^HP*B5HN>,M`J([(MZ0L(#,J\@,+E:[1GVG/P6B*^MA/QT0/`@RQF\>`- ME?.#K(9+UC8//]M.0--_K[T9^*O1-"5>0$;@;F$9:D@(64D["FL`V!WY#89@ M0\A7M`$I%\B#>JCC,RQ_'#:>C1X@/9THQ23Q%,/^A,Z8_PDN94%W?2X[O?8PI M8E%NF/L;15Z3$>VS][B&L2L3AUQ75Y''8TL^G/)(\MLQ%-\/-]/#H-I4`V-4F!/\"@9A!#C;:,+ M,@QT2S&\G725,],A/YR_TX%//#^%55-SEP*-]DK^>L3$C3C!IN?>GGMK8 MF*4/SN+9293!A:IOQ=<;K>VS(FIMQ;M%T=!;P)*R2&]2"GI,,]%0,J;\`">N MPT1&76.WSEX!7_$`FL+PH21&U2[T#.)H)*:Y^&$#/7I8S4[-_%AZ8T6G8*6` MXEQE,8GA2?D?N1HMCR1Q/T0694"?B[*;FY9H[&289G[!7&,_ZPWQ46.=/A6(;=D:M/D?4B>@!1BL#NK_P'H/#MH[L#R M#/%$ZCT+DN9'YJ74$48^'8HO?AK[47*D@R#R4+`@P`.H),#ZG1--%54=C&/- M\H02T_8;'>X\BG7(U`^*(E186@T9)2/&;,Z8.ZF`DH&;W3W`"/!5.`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`K(L#71$U[82/IWNV[MGZ!-FZ4NY5ZQ4CTY\+:HP4%08IJC)RG4J4\3W6 M6G,D%&>LE58A^6WY&ZLW>X\MFO\6^(L9K%%[74KZ'(T^1Z//T>AS-`X=;=CG M:)QNR.%F#NS"\6*?H]'G:!2M2Y^CT:65Z7,T^AR-/D>CS]$XM57MKP'Z'(W^ M4+7/T>@O"WJ^[G,T^GBFKD1O]'$E1QI7TO-=SW=]/-/1.3)]CD9O^_4Y&CU? M]WS=YVCT/DUO6_:V9<]W/=_U/DTW?9H^1Z.WY?I@]IZM>[8^7;;N1HY&05[& MAE2))$6#-?'PGH1OJ8R!2VQ!B6\+V#+EB@6QW_AA6)"<$0V0O!^__=D/V+OL MU6U:E#*9L!-R=*W@QN3/BY'4\?#IVS:I?#3CQGQ M0E("_*4WRC[/']^5\IIFK*)0-MD>T:BU#HJJF)*\/1I17M1;X83,UX9(U M1UK/22%_FC^\C:@ZEY6!/C#+F"@WP[X`KR!^SF7),"VE+N#7WM"?$N$=RJ'W MPN6<;1&:2S3W$1VR"CM[!]](/__@LZ=WVP#PJ*18*2FZ?K)]XE%K!YS+VL"P M:J/QD?7%RDM3VGEM/'9%=]/Q[[.#WD8Q)@-WZOI%GXBU6 M9'#!)/P-_L*.>TG1-&W]>F6GVS\^];2*HDG2-NB`T`NP+R)AZH;E*K,^=VYY MQO+J^%QXAG?VDEISH,[8R.E.G3LMF0);;"!;ZY"L`D0W,*^W`Q5%U^5!8YB7 ML/`MQ?UV1M```5^"):]O)@!]+WZ-I[SOM-2&;JKK)4[1G`?%K]Z"6N9`W@$] MWO"1%)NOT>^-6-U@>*)F@%R%H; MIIR`)0`RHUQ,Q&49C.S!1*KNIN,E5;,&QBJPN5E:A+<660>2+EMZ=7"OL(3( MS'9&]$@NZMQ;!NH=//B5[.@U#BQ+4PHHR@=O&+1=F3(/U9JJ.>L-RPITT20P M)U,[M\A4VG+^"H<2`U/593-]G+)A?FJ??OISXWX;^@`"$E!(T@H!+)RF;:@K4%613&6@J=I@*ZBG#E:OF:5ZK4?[`/!8S"=^ MX/R%)7[&X$NA['@'5B5"$[Y?Q8V.57S"]#N^FI(]4*\S7S,( MI\^,P>E-.J`+=ZY=;F7L1!A)LA3U.W^7OWKE3V>^AYW7J:F1!BL-%0)59'KD M"=LD72N?>*Z=9:M;)4W6)-70S(J8[`OT*G=%BFJHJI6V[JN!_L7^X4P74^'1 M#P+_A:IV&\L[%0D>C]R.V2739W@"A,.2O_U;]/(5?W!`QI&&0^*9(XJU/\[BU",HH&3L;[3,@="3"WWWZJZ1]J:5S! M)Y$N)$E?CV@E*&*L;U/Y$?%2A@`#2&Q:>VS,AZU"`%8/(CWD%LNY81U7YD@V M$Y:%$X6O/CV]!1]I1*@Z9/9\%?>(&)`]+AZ&"@SNA0 MJ9&2@1JO&E@UW&PUH*PD?@SGPB"%:C685FH/KH2IT2]>")OE$50\F^:=^CX5 MZE#QDT###W#$/4**!O5UHD=AO].U3G'*"E3K0B_65GO<<>E*8T>VA6?/U2>1 MU$Z&U"OE%F';A&!,4/.'"1X?0Q1@@__2:M!+\<=.UC#L0M)!7[FMD9J$U:-W MNUP@K&>3=MCD(XA%])U.AU/Z4G)]*;FU+'_B-5I[%NL$BZTFMYX.BS6;.'6< M.5*%=1^JKWFEE)+7F/ZX7;9(JS6X+%&7VZPMU\U\II[Y.L%\BJBKIFBU5BRA M$RFW*W413E=O7'O.W`&M,7(",L1[E'`>]FKCT/F1;6YA51S($NSBMLKX].JC M9\(*3*B8BFCHTDDP8>^`X,D=STL8$])KD)/>O.\&IBQ:DM;)O?N^Y['3X#%% M$PW%.`H>:]*-*#Q$.TZ5P"L!N'Z(]]TA"9[;[IF@=+[(27*"W&:-DSU"WOC& M!]5B2*(DM64:ML`SV^JPRUY?MU@%GZ>MS]V4E?%WEG(O9\ MU_/=49\O6[CRO7`>+&BA#Q%K+EP(#Q/"!G@D M=A#&^<."/1=D]2=A1@)A";_0Q#*#%("WH6#38C@7PB5\Q./+A3M/_[SPL.K)$--VQJS(J.T*$SL8 M4:P1B+'MN)AH!TA-"98P(,'_XC+*1-2YDPLE&87NQ0@+4;8CJ0 M1ULUV5A@"08/Y_9\P?+<\T3&;DY@LH&US&ND9PY=*9'C&?D=:8SVT$^I%.,:E#O0KA?/(;D MSP6R%$"RAK9TVX'MB^0%?DK6BU(7SE(710A@;2(0A0H!7"-P:CI?TJ0C' MB$870B+-'G+LB8FACK<@=,C9(@B!@7"WN>0))H=E!99E/_J/V2T2<=D4OD62 M)&Q\<4QBACH5[S$PEPCT2HNN$_$!4$B'_W\1SQF.!5G/"_4ZEH'"_ M#.=D"L+PYN:*LF3TV,,-^^X=LBS(7.<9=IDHG+'?S]ZO5P[*A:)OU@^:LD$_ MB(@-]M*C2=7S"6:+BPQY'X:0@K@"[+T_\`G'!8J_1I9O*WUXM>+[5CGOV11\NH0W6%DO MS!1(CV-CHN)16)N`!&@R%&;>P]QLE&20:`@V0O+^5A6)3-G*E-NI.6?WD*Y2 M!DG1C'1YJJV1_@HFV;>H>^8-=L]\0+'WD3RNUBSQL5-`,,7?^C()49D$XVC* M))2O]`HX;6;I=[:XP26UOG/6,(J#%6=BU728V"/A3=)3E+[VQK!$16=6`@R\ MID\M6O+A+#$%7ISY!*"<,\T[LNDMFNT]H8(=!_Y4^!_PUP2-`F.A!9*#4)&8 M71"I[&!U!.W"^`G?U"XL:Y#8$QN5\NFN?MX16EUD=';`^@%).G,=Z@71A4+; M'YTL<(SFZ`W1*IY(VS4KWBZ=B\R!`MF=5@(HQ@.P1Y%!HJJ"]*B"E02F/,/K MRUV'X8+YD8%P;[O4G^0%[J,GHC*(N;I8I>7-OC@>-3=3A2#IO)]A6EIZ+IYS M4TW9M57.LA6Q*I1431;$O6HL>3:;",K,P!(X0#?#;$M^^]N)7DS=W[&`"SJ=L*&;*`:T^ M=4<0KMN&1K5T*5TJ=@N$\S54"[!)];=QP5I!H^K!S]6TW+5(OR3)9A:1*K.V MCD7=!3$4>7LD-O!>TB2O-N_%KS:UV61+-@TMW9*J^LP=P;?6TJJ*(6F`\T[X MYHS%JCR::_:U>P\N=3.+YN9L&X6ZV\S<'@-6H[)^0[',/`WW0YC+)&.B*9*II>+.#-@=-A5L>PU+T;$7TZM!< MV4&P1$Z@?9]+'>Q*-/N^H7]TB2NHAZ+-)QZDTA_42K0U35,9J$H5VLX)AK3@GEVEV)Q$S?2RC2VO%@%:#9?>"':VZ1,U,7+"E.RUDM8&NKUWE M@G%WH^MVHGG?1.Z4M-8&EFI86R[2YCS-#=0N;JZV47[HDF9JIIF7>IEQVP6R MBB!19:2LT120I0'@%3F[E-;?H]ZU](4H_B<^"$I&P,:2T>>'Y8Q0SJ-@I:$" MF"HQGEF@?;)][.V!ZXMV,L"0[QZ<>G,HBC)Z('=O/O=*!7`NW'BUA'9MB_G%BBDMZ%(%0:6]V"AY+@G[S#]Q>.QY2#C/L=I.O&X ME1MBI>?*S`0:)#T/V#K1+,DD+?;*JEY;OE88Z`&:`,59@'-_EDZ!WI0,2&/6 MSBK%RC84ORH7QZ^N2WG<2F352Q*TSU2/+YK6F27XQ:[DHQ3#^KK MJ]NOPJ>K:X$U67?&V.-<%&XN[BZ$=QAW>9;2]V?O:>CEV`^F+,?LGLSF+-Y5 M46FPIB38F-?XD;CVBPW"SUUMT('K(PH`X?T296?E@SS>R*$DR>S/S MF^.Z<1H8Z(2YXZZ$X.HB_$!S7S#H$\0HPA/Z/HRQ.J`3)C97`>RI]K+OSF+K M!\B"ND$X>Z1=Z\=`'_@2$QUA.!J92G/QX'$O0C*PG1#G6,SPRN"-)IMQLBK\ MRHDB1CWSQV7(<&3Z]RR*L.E4;O#/4A2Q2+DE/I-_.)/6<) MJ1%'`^V2-7'2&Z(H!P]3T^8T61;L$H)8#0/"K"(G"HC+#(\)J_`>:V,+;[-`T_$70TA6`$[@"084B7[`#H8?SEWG#Q+E\6,7X'>4_^`Q M-TYQY_33-$056!_(U'9MLAPI=F2E.'B6YL)Q`>%Z"E0'4B+0#J%[#4\;\,!)@3 MGGP"XN6(BH)[!8DL'`Q=:GS\[4Z0=9J(*Q99#B#V'VF?8@[G,JY4\,2#D;CN M*;(=F!K+12V=O1=AW5P')$J\GE30%+`99I7P_'2:3@L4#9SPCW-[A-LG.DE' MA4Z`^B`9WSG(E2",L%XY!34ZNA'I7_`[/`#4`A/7"7'T(<:2<&W-9%(^JX#" M.+7_(.EC//1X0ZI)?4Q/GMCNF-8L\%`6>M@7&[&)%K!(;0J7<=(^;DGS))QWR[CATT0#`&`G&C6&0U/.5N!WB7.\_IT@J]"L_DNOW/`F2)8G(5 MPK@V:J%R!21&!?01.`U9=Z5(!YB2M$0'J/)(\X*]'*7%Q^95R&/44]8C;$$F MX;B]D"^O$.LX=HH"BWHA_#[CM26BGZ.*"LE#4?6)(@P*X*<[AQ>)R+D%U+:/ MS52&&,_UI[+C*K(EJDL/ZKP$0.X_//_%0VF6'DFX`KEZ$8N8U'YCFVJ-E$EU MOO["GD6K^7-$_ARY$F]QQ39/?DH,MYR1,9\$_N)ILC%1CM;GD`>J:,AZ2JEB MNJ$H:^:*^8[YCS-V[L3*8@P4T9(,45;,E.F6615@"88YUAJ(F0T3G'WOA=@N M2%!,C"">%R[=9]`S=DQ=>I2%OS[`KZAE"&B8@%Y,"O:(%V5A3ET)T\]IHA!A MZ1:KQ2&824G_C1@][V<,)Z@'J!GWU7]FCJ,\8&3.U)OA=F:,81%S5UZ7F>V, MF)TR#!:<]>/VW)15G#",A2A5)07&;,8^3>_L7ZAMA!L^S`Q&O0,G8.OML$%S M))-E43=5<6!9D;IZ#ZH&1@K.HQT0@;-:;FD@BQIP2K0[[UG)"FI)T0U:LO>2 MY]CV0TV9N'S1CLOKIHB+'&D>1V5\& M`:TE%'NG8E89K]0)(H86#<7"VJPIP5*+$;>>5Y$-T3)-MD&3 MNE"LB-6(75WBHY$D>O5['V(''G4SF/\1C?^X7/\:,^'82VD#[@(CG+>W\G!T.PK( M%RSKI^AP8N7,"(>0XY_SNRQ1`/;34T">$/:$-0L@HL(5!EN9!SC2=D-F##$[ MJ0BR)8"9)3YDS!<3!?@Z8"W!5]X"UIW"NT9;@,!U9/1%EYLZY0, MC$8*8(9;:V0#1X*-/L83`RJ*T$@3<[A2U^`Q0VAI`Z&E,DKO.Q6^Z0F-=[.\U>)5U3!;).4]?/?@YM.@K3JA^3AP*R4W`1Z%C%*.P:T48.8^T+ED#I13C M-$"'Q;Z1>C@KV`]40]8;PSXJ8-$$%7"LVW$9+5JM$J0HFJ'!OMQ$EQ2(]:E3 MM>A/R]39J=A/"V2I5[2G9>)L6:QG+_Q3N_9.R[3:ON9.NPS5-!7:6_H([I)( M(<>C,X?OFU`O>Y2N>9VC8(!P)96S$Y%:H45CVK0F2W],']?LN/Z9L?:M6E5) M,R73V$2C#(SU";2;;FV00/6UJRH-3*ME\C2A8QLDTI9:%BEE#C9NMQUIU9": M;9!9#-)&F%8,V38U-1)5TW!N4^ZUJLOE:LLI$?<[N"(Q5J^JCZ0%NG M'6L6V-@;>:-I M_VZ5?.SYVS%_.OWPCM[GZB'$FKGVA$&]\A*2I>O2U@A@V.'OWH@$+Q@&FU3% M*,/@LQ^D'^=/[UJ]8R!KBKF*0_%DA:M`*]2!:A5R417XY[YPR7/M:&6;5*NV,AP>?/Y&KA3.;NLP M&"@&>+2K>)1-MU]<:JV)K.D&>$E&0\A\P20'D.`L<^Y3E$RX$:?XO4MO%+^U M8_P5;)>!8A:PV_I9#XC?]A%*6R-69F648Q1U]KC'F.Z)[XYV+Q2_^8E7'%$W`QFJ7S&QV7EJN;I69J72BLMC39-MV]L MZNEY>:"7K=!:9*)0BK45:M;ADM109(F:N98T[833U)S_P-C6C.>695.7K+UA M6_D@L>%%;_S\<*!8DB%G7,!V*5=>N+1YTFDQZ8`W&JTK*LN:9J4+\&]-M:_Y MAA8%=!@[\P;:WH!$R)LO?.!&@*FU8<]E?6"FJY17`J;&KJM(LL;W4[Z36B6\ M*I^L-X17_:/R7-^J2EC5//1N"+=M3['S3:$JH5C_/+HA++<_8,XWY"G`\X;E M+2<^N3VGQV(%R,Q(,%]B0;IYVJMNL3(J*_G9<%W4/32=?Z>]SS:7+ZHUNO:3 ML"=(RU8_"_XNA0!V7+!U=3Z/H3`!)S!)$WCHLXLF+,B'SO,X6Y+DE[:K.!1\ M/$"QX%1]X*AL\*,_G_O3LVH\7WVN@L3XE>J^^X*A6JUA+.D&A`=P0*+G(*N^ M`:H7EEZ/5(4*Q27<'U=$*2M0L(JYY[\$]NS7,_;?%>PK5H9N;6%Z-FF!3=)5 MA$^#4U(%MJM(.BYTS]G7OPC*[,=!I%T;<.S.RA%TCU@'*8B!>W1M,#4!1(%6 M,RFD0&=9'DWA/;#Z`1>T9['#LYARPBR6$;'"XQ.LKA_\>O8?PR$AXW&Z_03' M!,$MQ8O;M`/CISJ+7-5!;=&^`FM#>,9ZCFY8?;$Y#>APFT@B_Y3"9[_F364> M3(&Z&V1O=@:(TC2&R-H9(E,6#5T6+55N:?\V1KNJJ]HS7\]\AV&^$I7Q,G'F MY)4H#,>CU4>CXZA>9>Q-[!U@^\J6J)JFJ`S,D]B^/1?V7'AX(C;K=Q1Z3\>I M6VX==^P0=R1@=PUG2,+6U,PZHAU\*VTX0A`.S;_-0-ZXD%!$R1R(BBGM\YBB MF_JK&Z#V[-T@>Y^?+E?W3E7]$[UG\IB!GIG[=`BI%4-**NBK`Q$S;1.PD[N MV?`XV5"214F31$4Z#3;LW;72R+0P_`7;Y+"F*M@%!=N1#9WBYN&]2=M!07!( MDU83!XHLZI9VNJ9MS]U'`WG3W*V(L@&VF#PX7>YNTG'+HZ,=KU["@%K'5>1`&$PLA?/+JD51FUW:5[+8B;-]%-49-TT;3T/4FGPW!+S]BOC+$M M4S0'BCBP5N,63X:O4UKW9YIU4RC@UZC)1AI#KM&_+:5-*8-:=XF>$D\!@L[ M6`JR7M+968P[[]K"OWT'5"NF=&/C/_\%^W[JYD^\'VOV+95]3SL3IS+?O!'M MB.P'V#[TVAL'-BL"@@-^7L"OG_U%,"?$$X6;BSOAW5GFR_?)ZN-(6FJ*J^LD M,1;>O(!7T]]AGWGL`4Y[,MMNZ//VYU$S66&UV;DHS!;!<$(-"]\+)S[B[+A" MV?TKZZ3]-U_X'-A#VA]:P(IT]FP6^#]H3T-W2=M1FY*&';POA'L'C)*Y[1%_ M$;I+1OIDN!<[A!W%&MZB@)C[T>!LW*B!MS\6-%V8PJ)/0A%['CM1A_6X_[1@VHZ5*^441=UT1Y,!!X?V3<683PE0/NQ":Y MV?;6%T6V[D-VJR4_C)P1[30_L6GOWJ6`R<0VK81(^2B,^H!7F5MYC;S25A[M M:JO@.IG>22?/*KW.`^),'Q=!R+H*GU/IR%/>F5`JRZ3_EG[Q&P$QO]AD^",?CW#_K#G.I805*1T M-<0B:+M$J%SQCCT1RL#ZG8J2KL&TEE!\;BI/ED(:+B'5XO=?R(H"Y<4"8A3C MU5O(*?! MP6,"S3W*]"$J;FB/MMX;,.8&ID6%VAM3E"R]NCU!7T*1)(+T"V=8,.\9K-(+ MX1)<-B8L(SLT-_/;,*XX!1_H$UZ^>(M@IRIG1QBD\:1FD"R)LL0@>?-.ULSW MNX/?JC?794;Z3-";0>U&>WS'JHTR%/H(PV&P2'R<]%J4,5@@8.4O>SQV7#!B M8:P76'3!QNK:6#HC+"J6]W!L=589IT$;KR(-^H&*[B], M='_*BN[JERS'G1Z]\UWK4:WX)SQ,6U9?VU=`$O#90`7U1,F=AX7#P)G5NVWM ML#Q_-64M^LHI/8OUE5/V91J<8AF^M3"L"WBJSL:'CF-:<]"\L[;K7KF[`T/6 MY5IT_3*>Q#*V4N]*T8XJ-G/E(JRZ)*M#%/6XB+(2'M(L52(SA5]^_Q1'3"G6 M4=$IBGC(7JXBP)NOK=CP`SRL?2;!W!G:;H0616CNS]@DPCLY5_N[[EKTV7+= MKXLE:XHH*6UEOG0ST+;GO"YPGB(IHB*U523C>!-0CMB>N2?#14"C/WN3)CZ9 MM5T2G+=BSARG\<(IPB*#`V%,2/.6B]);+MU*@&Q3D1A@PBAZ6XD6O0G3L^!F M*UJ4P9K1E=-@POY\IC^?.T@C.]NQ9M3>FGE-JD2Q)%%65B,# MCE&5]$QXE$QHZ*:H#MJJ&-():^:UG)PL:HME:Y;-.V#$%IS*;C9?&>7.;=4_9#?N%YW35 M]^5HZGB8XFICTF:4JEA=R_9"[1B$6NLQ@%TA8L]W/=_U!P/]P_YT;`]I8O* MH*VN5]W@EYZUCP/RYIL+6EC7^W1YN^JQU!9=)!1]=Q2VX9>U,*D=A,EL&::M MA%??#X0#>83]0%11U4S1-/;58JYO<].S]1[8&G->3%#';<7X=(!7#MOE)O7Q M`$5Y4T='8_K/EM=BEI3UYQMSXIOL;H'E+@I*PU]._06X\D-V2P;#C&@!*GOJ M@\^.?\U]8%-6\ODM;2PS7ZV57>%L[A406%E+X`F\A9T#G8`,Y^[RF.EZOG.% MBU&K-$6N@C?UUUD#6B39% ME_-<1X.5=FO"Q`9.I;T59O:2ZE7:\T&4C(&H*)HP6I"RVOVX@W+%^^<3&P8* M'(`'D,$&+*$38A\/&-1.SY#K4J:(FC7`PXQHOLSUA!#P;B#P`T[H94_E\XTB M;L@+^4.XG#[:86B/_$`$2`4[FYH8PY)M&P$4>1L6]&9CTJ(PI#!7>NI"`*)_ M)$/>"(TWMZI!=TT6+=G<']VQZE$[=*]!M+8MQSWNT)H=-;"'WR6LG"M$34>B M_H=?[*5@E6W;P'9"JL0$.VZE0IO]R9HF6JJ*:\*U'6V#E'1ZP47)]>M(!-UH MM2()+GZNI$VTX#83_:Q)C"4:@T&["QE]3C>;JMP-*M6#"O8#93N$_)9V,KGQ MP;4";I["UGV!H?WMAE:ETGK0_R0+%D8Y#&:,U<>\,A MUTUL/0Y2?>BQ]=`0)KH$8_7\&OEQ[]#S:L`R.*HKQ*\8TP&HHN9;N4 MK9^C-5@56=D$*T*Z):RTVUJX"B3[?C=6-519,50U#1<;=OOY:['90#(M0ULS M_5=0IHGJIE+JJX_:\1NH8R`6J,`\9/?#"1DM7'([OAP.49B%](T;'T0)$/JS MX]D>'B@D(\3RI*GN91R08QWUJ9`Z<\:-`%QBEHTM7+N M<]@CH,T'D%U()>I>^>?BA2S:"H=O$K#/)D('/=WOV62WPGV)?W<:G%*S?43? M<>T5MD_I._3T+-9WZ.E(*#JW:0?&4<4'WP4.^%,SVQ7\Q3R:/IND MT8")5I-(+%&7#5'1^Z(G/?/MG?D445=-T5)/N@KM+NG91Z8WKCUG[H#68+?+ M8!B%+,^V5QM=@:SY,-&!+,$N[HM_]DQX0"943$4T])-NS?*J')"/9$R"@(SB MFHZ]!ND*9$UOWG<#4Q8MJ9L-O=[W/'8:/*9HHJ$81\%C3;H1Z[(#CTPE7($Z M<.:"ZX=XWQV2X+E&F<`^]_8X(&]\XX-J,:3C2K_=5N?T['MPR'OVK:S.&BKM MHQVO0BO*TMCET^;@L);U99\7N]-)^T'S8G5)U$Q--,U]29H^W[OGZSWPM::* MLFJ(EMZ6[]W:IRGY_=M*-LY.JH!W)Z7K/=SW?'?A6IZVJ'!OS MH).DG!T2:N(\GGN@I3-VAC8X&WP43#>]`[=XB-F'_\)7!/K._ZTD]"3O)J]& M;^XI=V?7M/QB9X]^\4*8K_?HNZ.ZU26J?KI?3&'@):;Y;%B)39Q5GTK5\_1+ M>;(&/(S&^``(9*P+,3QH@87?[-"A^9QW>`SMS6GI!)JO>^5[]%"(?M-5JG>V M"L(#IBH#]TYGMK=$_AW&Y,2+8":2;!?@AR_BI-K5A/UG(CQB5OPL(#,;[Y`= MCXX;C&```F)_/A%^O[B_$)Y8PKZ[Q)_)#&>QD]TS8S&P+N`W]@.61>],4W`X M'GP_359_M@C"!6Y!7@\@6."[^$M`GA8NJ[`1@9S*TL8G/OT83FSOB0`+3:=. M&-+R!S#K/Q:`&@D`Q&]DY@>(LB=\AFF!E.?_N$@66KAFN=[^S/'P93Y-KB:! M"`ZP*]@C7&]*05$`+V$X$8!.K`:!ARBY>&:T"`(D@V?/%P$1DYEH@B$X=$`M M#[1#&*(00EAM86P[`9(]V17):@`QW<6(C-(PPXJ'I,(RAQ-_X8Y@'(#+QC(' M3X2F4M.E1#0W#X%$9L=A$2!1=GR*>=Z&PJ7G+>!-1NTTL?].<<07EL0.!.+A M$"L%)'+8X475PIV'\;L1%\W@?_T1)3M`%1,2BT+`[@-)3JLP\$7,#S)>P"(B M%*=4CZ&>K-ALZQRWCN&7G;#]76=.=7P^19IR-+/3L*2''7))PM^\P6O2;\77 MI%W61,PT/P0?%7RB6[B@R@PU[T(J2X>,W)@!'U+Y_FACP0]4"2"5IH^P0',N MCP%+$F#]#_X.EEKQGF"8$`9$L1PR\9!ZA(`SLT@4!T[XZ`>!_P+RZD*XC/\` MP<7?<)`+;'>)Q;(6(0KP^<1'(5LZ)TJ4U#BETM.G(C?Y&82M#7C#$ZC@7`#5 MF^]7(#572JK+HNXR+%!3X\A!2]WN@#)/+)HQEPQN(AGRMT$B53^N,W7F3!MZ M"]1EM(A-L@<*FDO%OR&S\>),\`RM5L34\6JH1GI?C,C<=EQ:%@>^B;&FM=;$29../>#92%`UVB` M%9+@D8`L(6%^=%X,RD[O7[0>81,3#08`F)UP0FCMHN@U:K@4X98V[L)YL!BBO3DJ)-`7&ZTG M`!M+B@!&+]&;X0SD+SK`R/HC5E0HL?#PBP6SJ=9]\#9/2#/#GD)4X+W!83CQ/'`HT!^9PXU.IK474K$09+9"5HB M#+,0H;QCPFLQ\[T20$#<_'LQ>L*O**PAB1QHD$/V$G?F>N(4[;86W)(FF>%Z M]3"!>:"P@L`B($_!'09U-/%'8D)LQCQ,%:3)X.*!*],YLYGK\.*\H1W05N$R=K$3O74=CPD MY,*C=?92^QMPFP7^(WX^0@Y]R)&`E7Q%68#V!2YOI!CY*02M2LE\!V[/+[R( M82)/$\D7C(!5X=-HP3@I*B^(]:7H;L`#"CH^F@;W2WSGI\9'52K.- M78.L69G3.RBH?!!R>(^_X!:JTBU0`P)DP.?F`&X]HHI?IH]W/BM4@N5 MGG>^4I*+2\*G;XUR-#RA(\1ZM?1N/5[052DIWBK&)5[!HA+^[8,&%)!DX)Z` M,'WQ0$[J^D_"XW)%Z:#RP/\"N`ST5 M$I?[8I?!B!J*5_:,N*Y-!TV^ST!>%,=:E?9F`L%Z>,Y!"6&!GY-B!0T5^ M_,H]``;/4=/AAOO\[\[XKV?O"_VM>V<*%H;M$7\11N8HAU%X0;/D$2R71]]F M9<7G]$X`S7G4YM&\[&:`:QJ`9XP'VWAX'19.B]&"HE&"&@TK&X,ZB@JRCK#&*M+Y MC2[J4OG[";BXBD!Q'TTRO'P0Z="1K73^"'CB>P"WFSJE>\6%E.-=IY>53)[: M([`I@&3#!34,<6'21DNJFC&\'BT3<-S-XC&@-R=`\'L\$+!=>K]VQ6X4@=MO M[J]*./V!FR4"KEB8&+O`VK)Z`5L9&)A=_"![3&TN!`"9Q1.0E1>%-M>/#?95 MA-4C["9`!,^,^.D('LN*#&\?+Q-AOP1HRH?LHG"9*>.-0(!=ZR$$@!0PENO\ MN0`C%JUI\,RH0('AP'KC#AZZ@^B/#/^PG_`+;$\Q8XY;[+(%VIFQCY7V9+3#^B1<8_Y8I,!XYEI$N=X:^\TOV3?YB]KW(,=ZI<*YEP/_I M__5SS4D/BV&MTKR:;$GFWC"DUEOY?2\O[O:S,^&_+ M]"^7/YSP^S6,Q6&[<8<,KK7$$YS1KV?7._%]J M%8-`O03?'@7?5WJ'(=R.8R,GK5NBOL>A<)N79%UO5'J8,(4O<2817>Z-`2(DRJZ M&)NE"!3K8+^$/C`DWKS?D2`'8CEH6_./FB:0$VOJ\=4IXGMMAQ4*;#G#IC6[YZUSJ;>P!\)V/RD4O MVKB^AQ*2"N4L$A6$\@?%T`:2KG+JE$%5">]\'YP]XLVGKH&WU`3&#_X\P3<4 M/M'6;_O$FP(0S<^FW_.B?\WV'$HTR1ZID(4A`F%O7-`$@HVN5Q0=QFYL,O#Q MGZ[97J>YXBT3EP]:I'8$,3)P10[QO3'*S>K%:D7G1AFAE\O.':DS2#/ M>-%!5"$D,:911?6X);J]HA[X(U>9)U90D21+43=8$9(461&%8\9`W:PY^0,C M:C&?\"CYR,+*P+OFE/8R?C76FSO)+_<.9+J:)O8CAE46H M9]#D;T6CW8Z+9MVQU6<.O4I3KJ`5D_IV7'@;(/SN.5O@1M^JT@,V?]!O*#51 MHC,E=VNNZP_CI*M9X(\=3&]@(8DB"U(=X2U3IM4RNS]GK\$[0T)&%4\RD_D` M.#;;#9T+V[]^3$\$QM)-,LT=GZ7M$T\M=PHN7<2[?%?0VZ!YI5/SP])\\^GZ M*LTMJVF:Q[C0&+#09HWCUUW*T+0_'H,;Z94K6"/<^Q]!_>:.C-CPV/D<3QK7 MWJY=AK?C2&6P`3^RJ/0LE65IH)@;=)"2%F@-`%&F23/MUH6`S!>!1T9K%.M5 MZOEO_/&M,$S0VSQ!@<637^%"NR9'IGIJ1D]#?/WU,^I1S%2K MQ`Q6;KCP1ZO9+_C/8-,)6E8;KAD^=Z`_C*LNA*QZ@Q,P`N=]-OIX4J,A?/`? M\-D[]NBNAY.ZJ0YB0;%^JAW/''8Z7]CQ$D.1#7K"K!F01PLOB#=N@13(+G4RP>WX*AZ>U8=@V_/6 MNXR&_CT>N6`SU^2+`H4=4:M!F%K0W8(]GN-)YNH;F&"S'\U^B2"L/%OEYJ!1 MG2]3G=^0RB_':?^+N!>3N*U%K&DLTT5LRE:NL(C)[J9F&L;SYZ)J,!1^Z-J@ M$,9.LMR$2666=(A?)%6@2R0:6$JW+SG[Z;,?7&6&OAU'D00X+MI6\2W(]O*, MTE1?$6<[`I282;DJ*6)LAWQD+>GHK86R,A(C>H=);X'7P=F93K48Y!:E-DC MHZS:QK+:))6JYA`E5"N_;[@.L1P@2WNFEUE-\*`FZ=]CHK(`?#[-[1@G85-\ M9Y'[/@VX21X/`JPQB`J3V;0)LBE<.:HW(5^`72X],LNELN6JQ=7(3!F]AE=O M:_<#LGI%&?C8<(A+25" MJVR&QJ6$6:S9MI/'V6'R"X90QH5SJB]VW^*\T09X:8":[I)DRJ*A MRZ*ERBWMWVZV:.R9KV>^@_51/&&%P2JBQL=1OX2\ M<2&AB)(Y$)6]M:<_#,_T['TGR]6]4[5+D]^B3V4Q`[VS=F@1TJH& ME%515@:B9EHG82?W;'B<;"C)HJ1)HB*=!AOV[EII9%H8_H*UX5F:&2B<$9D% M&"5:U-R\-VF[*`@.:=)JXD"11=W23M>T[;G[:"!OFKL543;`%I,'I\O=33IN M>72TX]6+^_+F1-:4\T`*6.N\B`((:6M*E[0JH[:[=*\%\*Z(S9DT1;R[N2M+=Z*!\S'C$M?F1 MBJQ_OR%/MOO)FSN\1=&='53)3Z3II'I4:F7#U%O@G6AX0/[*#V9^@$FHU]XX ML./&]_F&D6W3!DO`)@OLC6*XLF`A5!%0-W?52*FV1TI@H:CPU)Y(-'2B":NB M+VDUT>#G&0GFRSO7I@P3,\]ORSA_-`+KGD,5/U,E]U^634E+DO]K M0!Q3DN;%8GD$V@BA-I'P]=MQ67N'IHCPX4[3HTS:U(R9YDM)(1?L^ICI[Q!N M2J6%]Y,"*=>9%@SA"6?4;B1;!S)K3S>=-C9QA,HF9;/SKDY;+0FRFSDZY0FR MATMU7$/J?H6;S6WMWB(?*G%U"[G2_-RU.&^+E,%N.UK, M(CT2[MA+BF@7[S"B&LUX+))N^][`>6O3X3KU=W;39Z9OMIJYD;-/U1!-TQ(U M16]P6^UXGKEF07H&V3N#F*(B:Z(JR]UGD#T$`G=1UGX*83!Z?1N0T!EA:7)` M:D%6T_'[O;0S",UL*L4497['U.D=U;-)SR:]F5LN>J,:V"-6`YNV=.VE;D>W MDV[(HJ9+W=]./9L!NQ'S?LUYW0&R(]311DG11EYH\ M#MD#Z[6;A+8NV+Z+VJ+I"/M-$2$MJ*,F`D<;VG!MAA-7/_GYY[WCI3WP/Q1#'$@->G.[G.=JSHOF\^(&O9]JX=_].YW*Y4`UL#0 M-0^\YXV>-RH(N,UI-E&[H\H!U4D;)"R_[8^%JX",G+GPV1XZKC-?)NT9?_.# M@,8>8Y]L^#77F1G?OQVSMZ.7^:OQF]&+VS2@S/;9JS/;)A2%I&'Y/9G9--/E MJ^\)=P$L'.N^=CEZ1@*&&S&.6HY'`WW%KJHP#(X2#5(%>RV/_1J\J\R9=&4D MA#74)5'#;>R5B^D:]G`8+,AH4ZP^#H!I!/QU[`I[&URR=QN.U7\MW:%.N6=* M#T<6CKH-/HQ7T>#C81(0(GR!IR>A\`D@&`G[;+C5B<8?.Y]2'M6*LZ3%ZFO[ M"D@2V2L]43)))^$P<&;UZHAT6)Z_FH9-?4^PGL7ZGF#[,@U.L<'L6AC6W2Y6 M9^-#WQ_>!D^VY_Q%RV39+O7+_?&8!,!Q.VN[[C5R/3!D7>ZRVB_C22QC*_'+ MBG9450=IV1M>"D44;FZNJDNR.D11CXLH25#'%]NSGTC0+%4B,X6!IOP4WT8H MUE'1B9]*"P%QIH^+("1(,AKV@B.LESQL^`$>UCZ38.X,;3="BR(T]V=L$N&= MS,*:\+5"^GS)GNF9<+-)K9NB.FBK%U8GK)G7=C;3VS*]+5.A MD"@E!:5**Z:,UILRKT>+*)(E:I9\$EJD9\'C9$%#-%OKZ=D).Z;@5&:S\=(X M;VZS[BF[8;_PG*[ZOAQ-'<\)YX$]=YY)E+U87GQ3T++@1-$VV1,D\#19L MM_QHNE[JD1D\F5[<[:CU0BH=EP7TU?>P*%'@NRX6LKK&)&8PB?9(K^.RA"(" MI<];CL@6:J/^=6,B?^]EL0\">>/VE"XJ`ZLE7=8-?NE9^S@@;SP^"NVTUM*& M.L`P.Y;J75=56-%W1V$;?ED+D]I!F,R68=I*>#51'[I=$=!F>?`4Z-OE,NZ_ M:G@*9%54-5,TC;82;;O!*SU;OS*VQIP7$]1Q6S$^'>"56H6EBYS4INKS'J`H M;^KH:$S_V?):S))::E+S0)'Y"LA\*W#BE4$=+Q[+710TF[F<^@MPY8?LE@R& M&=$"5/;4!Y\=_YK[P*;!W"-!^%8@?RZ<^?)BB[.Y5T!@92V!)_`6D)/U]G27 MQTS7<]G2?$_@I>`^+&>$/IS[O@(!/ZB290P&FTB63R8]7XG1 M*:9,ZKTVM@@'X,8=UN,5&7A%L8!!58YX#L[6\=YQCVR+MP*R03?5>+W+T(X; MC?CS"0E*VXT4]1:YQ3<*I>_&EB+K^5353-/0LE*^?+(]HY);S_6H@(PRP3FM MCO`O:'@?PYU@BL=Y!HOH<6PE<^M]];UO_-&/\&3M/C;J MV0?I0M(,#O7:P6.([P(2HC@%BVM!N_<$!'3]'X1*7OLI(#1**P,U?^6?^,;M M^%OR_&7T^#8-B&18E[C_T.8I]HR``H)H$P*2N1T"BP"L06"/6>`,*0;HL\PH MU.5:+X,/'^$.![@=?XI>+U1R2I.JR33U5->H,CB2#E'8(8OW7*7+$X`@Y5F# M#\9O$(M+$I;][/@)*V2VV6*W\ZL[VE\.[LYO[J[/U%@O<:NR<,%[1W+7`, ME1?EM/H40_,1@+FAL!0RA_X]P8]J,C['[1AGX*8-4X%^*3GHFRE,4XAR/&_" MX59FT@<`TSR7X/_E])H4H1>O1])];#@A4PR6$.:V]P=\]0P/$A?T#&?;447V MBQJ"7?'Q'NAP_V2C17M@O2[=<1L:Z6UX_?4S$";J3%<)-H:,ZWA__#+V_;GG M`]7@#^$'_2KPT6^S7W[^^>7EY>+'8^!>^,'3SR"AU9_QYY_QP3/^_!P@ M__4,4"786>B,#IX?GC_JVH_$_?7L,__VG-D\9S4FC@;,3@[2%E3;$+^=NC`+ MGFD2[_SW^[,/U1SN__HY`VX&!_!$^623`!?@/[)0[4(>[5SV*OM8*\58:]U#GNM'>P'1=@/.H?]H!WLS2+L MSNC^FI,+UI0O7,+JJ]?4&5+=C:*L#="WN!=E!,@QQ4W\`=\_U\_(QSPX?\#4$L# M!!0````(`$HPKT+\>3Q_>0L``"J3```5`!P`:6-O:2TR,#$S,#,S,5]C86PN M>&UL550)``,L79-1+%V3475X"P`!!"4.```$.0$``.U=6W/K*!)^WZK]#]K, ML^U<=G;GI$YV*LP&80!1=')V,CX\\$`5H":/GBZ.8C'P20'CT\S_^ M_*?/?QF-?@$1P#X%2V^Q\ZX@"4)$8@R\!Q3&E$D@WMW]_/IF]M4[&9^-C\?' MWA1M=Q@^KZEW\NG3C][(.ST^.?,>UVA#4.3=@YBRNKW+(`!A3,;>91AZ"3GQ M,"``OX#E>#3BM8)R0?L;PL<9@+.)GE=6@K^ MWR@C&_%'HY/3T=G)^(TLCX2*O-B@DHS\3:(7-K'6^S1)2G-2)@A6B,[-9JWG M>6G[812">[#R^.^G^YN<&P8H@M$+('0#(DK&`=I,.,WD&Z`W^?.;Z!I&7.0, M,)6O`/5A2)@ZB6BZVX*+(P(WVQ!DS]88K"Z.F'`XXMU^?):VS0\F4B<=JOT- M44#N00#@B[\(.]1<)[B5\E/F1RB$2^YG#Y3]Y.7SU=0GZ^L0O9*GR(^7D!4V M,1T`D)*LB>\24Y'QR=BP/Q!//YU!OT%#"&%@%Q&K'=1\-L:A4LV37S];PSI M+JLS]!<@O#@R):>0\H:I)Y_T9?B=CRF;7LG4WT+JAR4[-:7"+*FT-RO2$"$L M*<0F>!1'M&23$:VPL(:V:.^!PUSBHND^#C+)[,^"M\ASJ*"8D'BS2:2-F&ML M,OX51AM]QR`[^PY4/O=*'!Y%7HTLA!F&10#W"G@$)?[I#0@SN.'CB!$0C&AS M#ZZD=1((-O;5`:%&E@#":0T0/K)AC(=H5#?,%=JF3BQO+$F<)@48:*IE0TBU3J7)=7ZU_5K1*GZ+JS@48#^AG0.A(HB'(/ MT>5PCE(,%S'ESOF(^)B.(LJ:EM7[?!-1@-F2OGJ!:"-!O8@TDS`,(+5OG+:A MIUF5AO[ZD3,V(8"6(]/BPVR>%0][4Y4G,4N*'CX2:J:/^H-MJ>V04LD"VE(. MCJF4TKVP[@JL``L6EE-$J-$:P)0^B_[KZ5WJ4%OS-+UM(,:]B4P,=\EF#CE, M+:=V?=G=^O]!>!KZA'P#95PT8\X=VX[9)<2T,EP[6-C)=&_NF=,UP,H)2%$B M&J-0XE(7ZU76]%^!073.7]WIG`*\2ONB5Q"#@*;[NBR^26FJ?-V&7^7N9OPN MP:&M^29.;R960.M'=Z!5VE:7YPD]0;[(EPE(<==@"H,9(N6125F6`:M8UI^+'.IQ&28U@>4C*NT.55E6 MSZ6RN8JK/P]3=QEJ:G'!^PHB$BG>0DVG>FEWV1`V&JX:V$A<`X)-M<7- M8"/)=&]1=Z!W(8W%=)87]V;$HLGJB!WQ%/MT;&-^I?U[\$+B&)IX5=^+%3>/^XWWY#B M195O*)8>T9LQ\UX+1+50T-EGO^182 M#9.1'WKX4IX)D7:J*1ZQS#EY,^PYW!O]\B[Z^K8%D9Q1U9:7X;XO[W=;^=:/ M_.<$7\D6EVJ364-RN.4LD?2'0GT/("-["L"4A"4'MY1"NL2J?%V%/_GUX$*,N$ MA:6RH?5_LADU$%\-%_E!^2422D#TBQ_44DZ-'!8&-X"*]6U MN+A@+4Z^-Y')S4KYP$0+(?N#%(V$#`V'G316"X0VK=^]5;ILB>)B>2U4*WBT MR%3R#!^(]4W1*>Z4U;EWF+N4KTI.&%0G]@HDZNR>(!D>9FH-;041E72!B+^[ MA(@RE!-5]U:I;OS8,6F''C73\'#4H#$Z'7S4]0FL_>10;/__7'1SF+5-4MN! MS"I[?7+L\GB6W=Q5GUR?L M--JGEV@;;&!4,%9O8"@9>QR,=LE&W2.Z#!@(,+CU@S6,`-XQ:'!8;#?R-2`[ MIGS0,F-R;B"KZFG4L#%,!C=%O>G@9E9?IY==-+LI=QA&`=SZX3W8IFK-"Z]\ MES;%S,CSK;(Z\L%AQ:X!VJ"DMB95UK+ORU!E:)?NQ-<-0QIRW0`DD0\.3G8- MT.6@(]6DRD[V#2>,`@"6Y)HU\12%(0C2O:<:5-EQ[;?US;@&A[%&S=%JY#*L MT,'#;AT']/4QYGL$],I:W3MGKM$^WUBV#>@K&*L#>B6C$X/>#2$QG_'GJRG: M;/A1OL);+)XB*.7BF[(KAD$S=N?&PRH;-J9H;J.(X):2FR4Y,.#F'FAK=!4V4M#I[DVBLL7H1VQ:^]\(/0\C:/$:T$ M'B7M<-%3;WHG\%%6HSK.U77R(7^'ZMK'SX#PI*^TVZ>E*+]]]I!B:%U>;V:+ MCE8*=S!WD.P9BIX?`=XHOB)@1)N_NZ22=FA8L3&]!6IJJE$=7.E[ M>CF(KFYAA#"DNP>&>2#>_EX1)U>1*^)B-?G0@&39`!W%O>J:!)P^N1?G/B(3 M+!D12UG,[P1'-L9W$+#HZE$>/NG[$F''^:3Z%,=[Y).4M=:<]^_A@J+9]W^_ MY__8Y3FMV5Q'7LB$,\&9?0Z=IHF[@ED_WY M"YU?>7+T&N$ILR.]KBSM*S7@+%PN-N1T%5_-S3>`EI7PNNQ4_\'EX4FE[<))W;?V.?:IK7=U;IEB;*R_'VKJ:7F)3EU))_*.X3FUK]N`B M*IW<>W.*M5G%!6);-U!+:^H"96E_%/A7MF(/T"_KTWB1)PKXCP43S)[\#E!+ M`P04````"`!*,*]"01,U#\X9``!==0$`%0`<`&EC;VDM,C`Q,S`S,S%?9&5F M+GAM;%54"0`#+%V342Q=DU%U>`L``00E#@``!#D!``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`(V_=&;A/>5]-6E!G7.?8@_V_`=;#X%]0$"R-V9&E^"F(^;#RN$TGT% M;/YD158H9=TJMM5%JXJ>%>I'!TNQ+W&8Y1-#,K]BHU;Z>I,L,%EW'FW4_,JB M!B04TA9_E@7>[>5'27HZC]:G!2KIA0 M),R>T/&N(1S*"W(O2\V,)$HBWM^8A_];I6+TDJ)DOA^)N+BV0T2O59L.?P,( MH)A#>I7&9'8^E"!U3R<700@1X[!2<\S/JC$!NT'>!18!? M)&SEC/9+QT)_AQR+!G/"L=K">ZL])]6V9B.MJ+X8=#O.'PN"UTIKP'VTU5ZQ M3Y-FW9,43YS4B!AEWP(8C1;Z'=,@%[9/2OT M?F)LJ&?7KEKA6%C$OWIH$;F$IF8A*]0^=(_50%HTMAK0(5/YJ:.I-/=J^"^_ M\BKX`>!LL4"$^0]7+QNVJD0-C[F%3/C-4C(O$=74JAU#.:,"M;]ZV,$O([KU M(_G24:MW@R647;M6PDLK,->U:Z>N\2QLX]\&M8W;*,$DW]79+AS88H/P0\-K MUG(/*0Y_NZ$T*R*NRQ9B7*YH.X-R7EI+5[W;;<:`RT>"R?^]:W M6"H?Z]LKC^7SW7Z`+AT8:$T)*KDU)H):\0*HCQRH].P37ZBCE_0JSFD^'U&T MY'\,/S44X]0%7F]PDL<$O422.4%)6IT,)*1]PJW8?:_!7P48&^D'&D+.L#3X M2QCYM"_3$/&R-%H7!U]J]*1AH:F8- M:L;-/?Z?3VM-Q-:0OPT1L-$27.M<#GDPLO.JN@1G.Q?")+#=>>4:L?]]*RR_ M$N&^9IT;(\YK-;A.X[QNDXM'SBO7N)O5PRBF>66MA\%$=95OH+'+BS$,NCQZ MF)'L(#4;7DT^42I9\-[SEF7>Z=5)K]\4* M$94TA902&B^/XG3T:3^RD7"QW(*1P%3=[J&K:"-6"_0\2U>81'^@712!5V MD62HG6V%O8Z6T!V78_H,"DCHCGTRGAI!%WTU8CBT.-J&?AI`3L4S&E< MS@!^GT,ZN^KMQ@QZ#>P\C^,B&RBK.X]!ISP('5&^Z5<)1&-KZ6G$UE;SG)K1 MA@C-ZQ;BBEW1@/;LO+0GQZW4;F;V%5H&J$JL3_#/8]?R*&:5?T5G"^&%QYBR M[G+)=*V'&KCCN+]U8L_12S-TWU9:]USLZ[2,B-5:&_-]0]$K[E&:D:3A'.L7 M`%?-<`$O+<584]/U-,S2B_C5MVLO([KV\M'MD/`UX\W0&*/J1^-J*G$J+J/R M$DX]G=KQD_(1&V?OAKZ$NIN.1-S\;,%/D/CV=$5DL)MW+`ZX%GK%O;05RU8P M2V,PU;/='C0X"I-PO,E9CA!@:XCF!>R+54"6:/Z(JVD]!>0=BPL+,"[N MIT'8M8*&?1A7(,S%]:XD(B$3+EAR)S-;9S$3Z1F=)TD6Q-O-B5EROEP2M&1J M?$M(L5\!;&4TU@ON.8L)QR5G+^VOO[;3F,IT>__DBY='K-=J[ M(*IO>_9?D:/3'U5%7IKXP5JV_Q,CE2BB`[SE)1A)7H*SM\0$;XD)WA(3O"4F M>$M,X(-MO"4F>$M,H`7^6V*"M\0$8TQ,4%XSW*/]I9^[.$A`'/4+%+KK%/`> M8V.MS1#78=\,2S_XI76+1VT/?`ERZ,MI1:O07"R^;,=!4A*OL:`4^SV&Q<3N MC7:Q`=-?5/!AZ)T_,9L/POI+".V$N]07B;2H,>07] M7*F[#D)TON8"SA9NF,*L^_$0Q)GA?9"B?`-C MOM^BKZ&J0[J+SU61C@AE`YV[HJVNHI_K:ERN4DX!1-;`.`T3E,;G.L&(<&W5 MSV8\KC/VX]&!4NC?!8YC%&[/)"3/R0)QF1JE@'!,9:D164RWENAJ1MJU65YF MZ\7]^X4TWZ)1D<`N7T$R(A/1T-&1FU>P[N6%M4J/E1;B^-M9:-]1:-])&922M M^KG;.//E*MU#N$+SC%_)K.@C1DS`B,'`*SLN(D*K*Y>#AG)U,2PW[=/5^CK7 M7KF/YV4@F:Y"7UY+RC&A@$`S%ZR@0Q1C5L,&JEE:*G;:D)6(MVZ2Y6&Q5A)Y M$191%0P,BU*1%.T)DPP7'.?$5+"6ZM+!T[!:;D]P=6.VDT8(V:"6`H7*]6DJ MR@"Z/HS%05B=9#_M[RB)%@LPW`;Z5.A;_320QZ[LQ%@I?QDOB`W'H5J\G^/J M_PJ2/P+^'D-*LGP3_28)02S:"0O-5(2>XJ2MFPYJ*F;-'G3P,"8P>?G0$4-W M!#,O+WWE(5\I&ZQVXC76)ON#-\T"^S.WU@*#38%%<-P6FG-*44JA0Z(VLD)5 M.=E0D8;Z8&%M+2LQAJT5\(XI9^R%'U06CTX1DP]]"6*^]_:P0BC="OSE]3;X M7TPNXH!2-LUOKXBB^27:$!1"ATV.N0(F9L5U=!;IK@WM#-A*#B_N1U2T4>O1 MW-?M5ABR7HW"XS-2TQ:QM$6-ZOH)U/I/S-KS.Y,M(VCVH\CS(8W0TZ0NVJ25 M>A1F8::SN1VT\N\GLWC%_,Y#)AK-Q$IX629([N4!(:-MI*CL(XNK>% MY8#15E<_.RI49G2@+P[[.S%@)KY0SPR(3")B',;4B<4 M<69%_9V"W@:$S<#?^:9>3,$#.`7%[ODK@,(W9Q<^@6M73@O0ZDD1"B>/R#R'(6(JJ'3I!89>]NHQP&M MF=(=H&ZMP')WN=Q4%(4G2_Q\.D?1MC^S/^K=F/WTZQ0M@_@J84J]`HL(R5=Q M8Z;^=72+`[5^71<"#:X.#ZIT<=U6#[IBT">=RW#!2NG+>-4XY"-M MI:3#"=0Q)@TGSU`9C9RJ;!`0E8]@MVK3"B3$ MP8,$=K6D<=N`<)0?[ATH:QU."`J9_5(TQ%!4L_V2%:?OQ=[5E6!H;-9 M!05H&D.4!W#/A21ND@;I=R?Z*)`E9)7;EO(XKN(/%J2U\+E.:EQ0%@ M@38HVG!1[DS(D/%F2Z)X^!4^5H.^B0.UZK>A;J\!W0.K!6^@LZ4J/8+K5=^Y M#5[D^$#?=@>>+Q[CHQ!NN(N>.5+ M,&.3ZE:XG!#.H/`(#,RJ/4SMS+0RAZ$;;K)_WU":\8UQYNG@]9IK5WYYBGYC MC0&$C'Q< M1(AD!$:BH9NI(<`L^[E0^(VM9,@/$O$'H+BC5D-.]KG0K/EY!(BUZ&2*5I-= M/TG;2Q=.`:`D7W>Y$6M?1P"36B-3E!KXVS=(4( MN+T%;S2VTU=W&57T(\#65.N.^XLJ_I6!PTR,7$P%RTB:G1=:Q3&*+'L3-:ZD#!-<8%U:=#8$%/;AEUL3-LT43P;20# M*;;;"OJU>W$:4Q9+DE1;1@"8UO`WFSK`CS64U!BZ@"KJ%N%5CH$.R`/)U`?# M'@Q/<@2^.HS)$O[^D@/P6P4B?UH,I^=6D91N831)//"!X8L8+=K(D*O>Q6@R MZ>\:U@,*,[Z3B>#\#2J2$D)-$F\1:M%&#Z$FDW[Z4/GN%(B/G$`L*`$"+[%I MU:0=&8B%%R>U#]D31;]GS,V_>B[R!`#N=`N56,K)J,;M*.LI[\0KEE;E11`) M(!WH#[72R>UE>+^X#6W8(%I]80E;">A>^;_6L#>\Q.&!AYQB&^25CG`7[+V) M]:])"$[U2AH8\X$G_/8NW$2[=>J7,@60EKO/!X]'OPXB\CV(,W2+`IJ1[0G4 MT#'@.Z%NDDV6TFT6_/_.`GX_/#\WNTD6F*P#56"X%0_AI';C,=R+T55Y+R.: MOUW&[\&J6P>BA-N@2CE0![;#%INH7^[BG:K-%P"JZOI90Y?KF"5?<;*_8_+4 MB!K7H16QXFK:L1J$21,X,8F6"KV8_8M7#H-X?XV7[GXKGB8I/5;R"\'9)DJ6 M5':YQ1$[,3!9LQNKL3IN2#=#G+5,7NR(U%YJWS4'[ZXQY@Y2S:CU"Y2O1+04 M&*MA&C>&$]/3J=6+^'3U+*R>=/XT,^T!YE;9;-HU8-T-^GE4T#0*GJ(XWZ%O M'UL,2H@HUTC1)W0U",XF2<05O*9:<'@B]I5@:'I:W%$ME=-Y2+`W?=]Y2 M+!FD6!K2$?[R"FTZ[1UW[E2=K_D^+`6\#ULV=;?8F,UX?1M'36?M"G67PR]# M!@4%`S%,BM0-5%ED."?,VIAPIV8!C<]0A(H-*JOV8F+KR=X:WIA7%@?YEX>/O7@2$O#*-[M$&DQ3-MU("*H`>5\?2J7B(WK#TT-NG.@,8MFT5 MT`P5-6\?I3>LT8LA[XJFT9H?PB]VDNH:7I>B1?N:%1V)R5FT1Q=[,ZO.BX&N M-*+O_OQ[A`@#8_4Z1<\H5B]#-`HU%QW*0G^*)89^L[A<4"AK]2*:`0SN;(JM M]NM,RM:-3Z^L%RL+'1O"=LTB\>T4-5?&7AE>FU+#'ZL#W= ME85+Z_-F05$;VG.-/L`7%=LIX=/M*N70'IK1:-0\R5:H#9J-3G7`676U&@]N M/_"4IM'VQ_RAP(2G3D1)6,J#WV\N_MK%D,%O7M3DF4HN5[21P==^IAY`/ M0Z:OMRA=X?G^`;_9#Y[+=A5MI`^X&9<3"SW]ZQ->,-\QL<;%"ZR@,XL<@^0V1[XBM"6)ZE[%1+:"-)&IFA40@IV8ACZVA MD]ZZIJ#+O)_$!OD#GD7<>K(\)X0?=N;OER&RKL&O19N*1^J5M!Z#;:*E+L8M M/"W7SA)HA>W$\ MK@C.EJM2N#=_"?>Q>`FWAFNWPD6+F!;VV`:LVD'7,DPKZ2>CO$0*)CBKC_V8 M(OYXADC1^@4%A!$]H#A&Y&'[,)>>#75@J+8K(X;CL[7N[65I?T85]Y,[7[@W MEIDZBG5F7J33K]U)^XK`9Y5``OB>8$[@,[1M^FC# M"C#J)VF^P?/M!B^6>_E$NPZ"'5]E5V&I]1![U_3VJA7E6P-`8(1)$;%LURHR;,I"%;BXD]:J/%4BL$&/;3^[ MK]NA9$;:9`#/B[L5WHWN9H6'"U4P@AU;-DO98'0JWDX19A6.WI0:)^R>&A,4 M?-"O-2EC#_JQI_[RA4^S)Q(Q;X+D=4KA#.)FA83]:!8: MR._L.*+@CJU1MAFSJG/KT:S28;@41>')$C^?SE&T]5O9'W5WE?W$AJAE$%_Q M*$/H\1+)U]T04_OJM:NBUD7'*VEPI(O7MGIPPH`^B8/_RJ?A_`89!E@I M?;7S53CDY_65D@/T(4U,&A/1(*A`$[`F+,J9M`68?I_0X&,P?V>6Y[:/%CRU MO>HU#0UJL7_61CW0[`=V%FRJ71F^,D?Q@(.24W^O;92K+1XJT$531BZ!LTGN M.9XM^ID`VF357_>\"B/Q1/OT3@JD@JJ$'TCE(6SMVK2A!7+PXRK'SML%+@A! MWZI94L4WK]U%E1XZSF*MO%^XP7<=X*]U[(;W(F%H<)L&E>#Q,HL*7'Y=73$! MK'G]9"#(P`LFFIBI;XJTH.;-E8\;2C-^17ZVX"%%\(RG(!'3'4@RU.T.2=_" M6JJ`*):F.Y"#%UWP_\&S5"TS88=7IR1S8MNC4L-F1'Y[5$J*]]NC4F^/2CG% MWIN9^NU1*:5:AWM4JOB=_^:7P`` M-F$%`!4`'`!I8V]I+3(P,3,P,S,Q7VQA8BYX;6Q55`D``RQ=DU$L79-1=7@+ M``$$)0X```0Y`0``[7W[;]RXEN;O"^S_P.U=X":`G6Z[9W;0C;DU<.SDCG?< ML3=V>G<1#`9R%(I M26A*DT>Z>G-\++Q'8?S'K^+_W`?/E MYS?CQ]*>?3G[\O[]=W2XW=!L_WSRYFNZ^J%HHGALX:04_]J3+_XF_O9^ M^5$^K42YH5!CNOJS^=LC)']_"8OH1[HFXG\_?;P$M7_Y44C\&-/L*KBG$7K6Z)G_`?,NI=O!J_X5U7 M6(V_S8+D`%#I._/_`\9OM:*ID?CIBO^KY9=^S6B\HJO2L["MB9W2M0RVTG)E MFRU;5B,QBK!$^>=(@RE=OGE@CS^N:,@-GYR*?QR+?QS_=%(,%/^=__0?9UO> M.O[_L_=1\%":DW_)7W]0/LO"3/P!G6<_MELK]%OMY4,JVR=+VO'0:\%_1/>1 MTYMJ=73>-,CH-N)N17)!X^-/MS^0<`7)+JJ?B/CMGW^LV]S_.\^2=M<$R;)L M$/^GX8\H)'Y<,CY>[K+CUM^S3M@6Z@5F>'G%NY#V?B4M,9(Q`NC^>!C0G>^3 M1/CE:5P0_3\:)#QX77!6==!A$BO^1EC,`Y6042R`&NQ#6-6J+8JG)'],Q'/" M!8B0F!;$QJYD]J^]#6U(HT2YWN*!`'_!EGO!M&JH5J!=*U/\S8",!\Z5%K%` MKC,.(1S6692/2/YL)M#6]QNS?,UM4"O%2T1K;!T(SN]BWMRG"[8-PKB#*=6C MXF]K/_+`;-,0%E05-B&$]D07^2_D<_[;OT^+1V4/,/V;:Z.O*56"KJ]Y4*S] M'QI%_Q:S+_$M#5(6T]5EFNYIH@2?0;:%1E#6&YZ`95R\ZIWH`:S3+1$M9([_ M$$*DE"*YV!PP;NIHYM@?*A8`:FU::&T?E">_LV@?\ZGTT_LPHDFJY`<@T^)% M3\:;#QV+N#Q0&]?C7Z53XKYZ1O*'N@:"YR]X]T MQY(LC!]NLR#;JT&M%VUA&Q+UAKC:,"[2M3[T@->HEK@O)Y"5#,F%YH!_0P\S MMYY0L4&MU2:%SO)!N2%)>6/"DIH91H,:$CX4V`ECUURA1 M+I^0\M$NP<&;;+8MO,[;\XW83<(Q=[S-Q@$.:1 M*6#V9."#R4!%#BE(I.01R65)0W@67+'!`1O24TH6:70[E#)Z.?"V3[WY])[_ MTIW`&J0Z6S\]*83-GXY-[.T?M7G3!I!*J]X":FYQRN?SV`2"^I!9OW#U1E!' MH;L5I+0W"?Q>\3[XY"G<*,;[*-T(Y@B4NE_H$#\1TW"\3>YJ-.N,T?(41880@[ MJ#9LFN)H)5J'3O'3/&)EZ_TS_7M31T0AU0V"M:8GTM9!>B__KGUZ_!`$NQQN M-,K2\I@ON(GL4K_DNRIZNK,+@/HS#C32VVG]2D?A(DWO6_4A$24<'[Q;\M+:V*!X3^G5'XY33,HA7A&4;FI"H5ID%0YU@ MU*>L:_\J.6QC1$%J>]^'Q?()\J#BXA<1QB<2QU*#%"H2QR6X&UI'Y5F";PG2 M)U-B^F0&0]<'EM'TB@5QREO[/HR#>,G'V8]T2<-'\3>\?:K_+;)6Q:P9PU1G M(RL:A`2!I1XK/0)]+`G,*$#8R@D Q1KZ:RR`5#=ZG9+6^^T^$A]:7]!= M0I>AK)G!_QU1\0^1"VW%`\W"=O1)'NZX8C,^+-W?]^'NZURGHQJM@X+ M2&;]PP9*0Y##"F:;#&$'S]7BB@:IF+"7OQZ1H+9/5@T'DP$;*$=H%&K0'*]]V@`Z MEMM%P[)@:E+:)C'-2"BMDU<1M_]:/!8_+KD;LBO\B*)?K_8B'(?Q:\)*;SPB ME^Y^G3@(CTDD=CC@=H+S"-Y:@7JTOV:ZH-T86*[7U?SEG*59;Q)J(5H&4:VH M;S#4&$<-:F8_VN!D4E]I`*PZ M?U980.]@O+,+2M-N?7M2=NY\CK4-Z&==9++LZ.FCD3(**:,/$BA=HTW6K\ZL M`J1UC,ECBRS&3(+91!@8<::(T@<88@09(7+81XQ6I)A_)VG#@;J7IJ3_>;`+ M!;/$_DCZ-HA$J??;#:59WKRW3[\%_\F2\XASY`/M)BO#E(L7XZKLB60W=YBS MO4&>=;P88+"W`4:"3*Z6D%<135-P-TRLL?R/?SCZI].3HW_\Y1_D-O[_.#TZ M^9__=/0/)_]T)"Y7V%&Q:D>CI]<3%Z4=AD6&@9`VU=WL-$/"D!8E;.^^R]%_2R,$6EMX@VR^?', M)A^8E&AS&?M7><+RMX2EW>T^DYABQ&Z+(8:2IN$1CB087-E&@9XJN'XX'[XJ M>Q:@(M0+,,F:&A!_^E9'!,XHPXO*R5#,=`>%53%=/")2Y&4`QR(\#T'.7()J M^GZ?\8#_6QB'V_WV)GB2(T+]#:9N_F2IJIHN&54QR_@BY'#(JB/T MN,.,,;MM& M"TNC--,ZBHW@??$NS<*M7(Q."FGR*,1G%/1&8@@4(\>#HB:DXCH%(_`8?]OS M"=@7=$V31'QV*#Y*]`W*:FM#`V_7VJ&#:]N_=0#])0^@,7T0,<1ZF7MPBU!C MI<+#XE-,@R26WR>+'Y]9&`0PZ1/J8&!XAK.V8:^0I6KC]`0:9XU[>%M&YHYB M8[R_;Y3;:I2#*D5+>^3R.^],>)HS\6:S.&/3_,LXS,(@RI^I/D)&M#@T,5!9 M/'1LZ[=ATAD6V!S4"`=X612_DU4>RF90=@`3I3XA2P\3SZC5-^X5N:"V/I_@ MY1NJ?`/3X<<')'^[P-\2U/ABX6UR42D3*D,_YL\G/N0T#$4/I MV2[YG0RUJ3^@#1/R/MWTR%S_5#%4_.1-NW2#RZ7*GIX@A=A"_&MJB#=>+8-? M31>,Z::-L%)Z4MB6.G)X<]/IA']_7I953O M\L_2WZ&`Z31KR3O[76S8-W1PC0+,DQ*95-SL]JU@$IQ]C`7*_BQC-%2>8@[U MUAY1P'B:@U%67Y'_:(@?B7/F[13ZI:/T]-`H/9U=TTUC<4NW1:F!0#8.Q*T+R'0QX&YE*\?AB57YILO.7`RXTS[F5P. MIFFK/<7M"3TF?0]$5C]JJHFX;!'QE;@*F9S\-/4/RQ^1&SQ^]]B+_;_*_]T$4 M9D]B:TO>'MZ\DKV^J[VL[98/>;FFN,>12Z9QZI\$"%LRY_[HL`Y7:+#/8 MGI)E*8O"57XY,O_7\@E><3&+UCS3B/H3#32.S#23'P/5].J+MT$:RHIN-_PO MYO#(*XP6Z6.M.SF+S+W.W'NGQR-0JT,D@_7)F'1![[/+F*>>>S&:7H4QO5('L(O)&KT+'6%TF@OQD-1/R6?QG$B!B2=5IAYE3J^_30M` MHI*(Z$DP1U*X2J%S?'`?V=9A@K26MPN-W2UYRF7J/K)XH?C MC"9;TJ%"2CY+E5G1X`XJ-67H`!W\[[J%HT!;D\+>O'5ED&K`?XS-*,#N"+M. M>D\F1H#[2!_I(XL>96$`,09P;N39])&8I/"_?.JO@TS=RYSZHL\(P]*XUN9X MV$';V3'X&`B;DR*%F.66#`YB@$T6/\A,N6W2;A:P/Z(74L92M!T/M5GLA&+0 M'H9&TNH<'J M.OX]2$*1_'P,,GV6;=129MX:+=1L'/0S7H9NLM%4L]J7Q.7H4QV>SC M%<]:LDTZ\5Z$*T+`7-ZJ^W3Y/6@`SOD-/F="ULN8S]MHFHF&R6L!5CO! MP8-L[$<.L;+DK9:_0PPI*>UF")7E+J['(_Z`5MC'`F?C55GIL-`DB8#]C./$ M("2"H6,H)G31Q,4F'&#<6_8,8L[@&#,XIAPPADP3,U!C1)VE)V66'E6K?RMN MYNAE!`J_P(`1"(81?W*BYP45946R\WTB[B(XBU<<+\O\/WK\MI2O:&V4]V:S MP<,HBY%V/O44MK&QJ.J4+C=!\C#UV7;[[F<#>ZC+/H-JFW16?@Z!-\0%3$MO MWE`[:6#M?/H:D^,A#5S:Q(;:M,N=]4V__-\1%?_@+3S;LB0+_U1="^^B4D5W M&Q5OPIF=X"9JUO[TI+,TLYC/KI8;FG=^PCE;>&WP2<+-0JYW?3*L%L MJ^6+)@:7&15Q;Y&XUI$D1$R/-_R:.>P7H=1AQIXH*#F$Y\ M':@K;)A7GW:X:&>@15,7GX?#+-Y,PLTG$EQ/*KP^%'C=*?'Z+4`5FGB,BM4I M)R'ORON)E;5S@:?%R^D]]:1Z"7?@]H>S7@/MEGH(/+#R-$+" MY.K;1"%[6XOJ@:BN6"[8AW'C"O4=?VF;0-R,/:L=$'=$,<_.[E/6RD27S`Y^ M#PEIM'S*V2L:FGE.E*WTK"`82K/$A/&F255RH>[VN2JW; MWEXP1+4#RKJPH&(8;Y]V2'T`Y66IQV]CX9 MJZMVO7VJ_OFO(9]`\R3EZ8H^\J[^&G:_!W53*MZIK9(GA^W+?/9%4K<26/XM,."\GN<*&2Q*)AWS9F6F=V8T4W0'M1 M_I(?IV3BLKFO=$5B6?HFJ4O?S&J9P08`*LKI>PJ@65])R2W(]ESX=):F-$O_ M]SZ(^=\99.$C_WW-DJWC3XN(\T>1^2IM7,']EK:;$[$*";3N>1;2X`BK\>-D8$#6NT*H##?(Z M5?3H-@`K@K3M#HDB5W.I3.2'Q('A1`F,X2'E2E7SR*,]TX>6WV@@EJQDZ9[^ M1.2";8.P>_YPD&XWE-CI8H40&V^CA`X'QU8AP]I>:Y[>U#HBC2#2F,#GNG.) M$4[04L4&UQX'8H*-&64LL/<_?0RH5ZY3H*R)C6B7X4I1+$(KC(_"7]B/%5TA M]>9`WD3*;`J>6'6XBG>&C@%HIM!2L@JT/BL20976K&0U-,*KNJ:U/C:17$JO MF?4A*LV//]I*6M8]8F:0LJB6A?WI.?3VZ6T0B4K>MQM*L[\E;+\+XP07 M;3DC2+UG9-V[X*:1U@*P;63A=7I&U]%&S'K/MF(=/M7/*BU4X#%2H8(_5/:< MC#QB0OXBFK9'W'!2 MN''85NII+^0OY.>9'`2VZ5EXTP?J`NW63E-)LX'3MST=4>3%5F$0-2Y8J'[+ M9U0JWH/+N$CF2LIYF_/EI6<#4,F+TQ8MPS%<+,Z#)'D2WXD^RMFZF)"OQ5B? M_R=;]\^9S691&@N^;!P(=8*/I^56A$)IY=1AC"19%+$O@F/O69+? M\2)NE^S=GSM`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`@<'."#I_;=R.F]DYM,"-Y]:&%\7OY86_>2D1EFUX_A?-I:"()^RT M\<`5!*8886-/'SCL6S2C8%*LO\8/Y7H\N/+MJ`@@1/5!`KL8-#@:O;@%! M:VQQON&6."[YH,]*01+4I84:D>#7N84"(X"T]+?I6A/E(1MZFNL]SXG:8C"H M6IM_%FFFM48)IK12"9_."C9>&"==KZ944Z%3'WF&'A: MC0R=I]Z<:]D;X=R9VH.>2GV-1?GCU&Q0=PZS>J-=>+<$VSA6V,#O:<0PJK3M MV,DG=2^7<^[GV-M@-'/I[AG%)QE"]4&J):*.5(4(+HBET1&V,D`G#HBNU7JH M)@)>)-BR)`O_+,K6KDE*HX@F?TG)4G[M.ROHMSL8QG^O0[0-"[O@:`V,.83)_,A)E6,"D1*0Z@3+GA02[CMV M1PN9:C\V!%!I%E_2T^+TW3R0#W6D`OR:MZZ&?T=!Q0"ES?%0@AX@`1\#(=(, MD_GCHWK^_!+P8HB7PP`SAZAY$X2K#[2_":)\VHF2U5,DW!?VJ=?8@$L$1)`96$+P'Z-E'A#YK7@A_06ES- MYGR$KK>8]>OM`+LOW((U9&L.H(;!#(,8$[SH'P.ZG0SL'?>[$_;G<[+/<%S/ MZ@P><+#.=%K.LU/1U@P4=AUZ]*05?)Y39P*3?KO>G')RWXQW\>HV8\L_-BQ: MT21]]_=]F#U9C*,V:HK!5:^&..+J'(VP>^[HVG:(-IIJ4D>><\QE9L,B.YP` MP[IM'\)CON#^D;1SU%HG.C)`J@MBB+P]FO/[@>4PE3=AZ31-QL.=5 M&).],/5Z3@2UA!9(7/LNU_%9;P7FN8WW>=+?A>\N!!^7T:,LCYK]#::NFJLS MYI\SX08RS)I2(V178U:UMO+D!:=^XC6WJM;X`+/*R7P0-FV6%M/K];G\8N=] ML!1SZZ??@J_A=K]]RY*$?O//WAENEN;L5\]-1W.+ MXBFY+Q^39?%\:HH.``[S[]`N?^VMM.GLZGU6Y/X4[U.Z*AMXSK8\.(E#?>\I MO:&<1'$6/'29Y&U'0WM+.R/$`"O/8P<$ET:X1@=[VXOZ(5E3*F=KFWV\XN:R MS?13-E_T&6*',Q#,@<3*I"FJ.+1K5B$&/"5C%M4$"L33,+#QL>GN=-S%H+[X M2!]9]"C&=2$KOD;(I8_$?=?\#HHU^@TEZT)_ MA@P$06*BHJX/+3C953>24^UO.I:R($X_L(RF=TFP$G4\Y1?]/.S2\%%4]DPO MPG09L72?T#OZ-7O+V_)'E[4^-DH6#[/AR^HA7L=8//5HAY;\@^TJ/I22=DBM M.W$4\`(=0\1`)TH,,=>*&L/;,Q4;\)9]?5HP"A'$,K'0/OD1(&6G2=CRJ3+U*+1O*GY=Y9U6\M*_'F1"#%%YA/C M,(A48^T`]>8PZZ2.$5,<'%H/KO8E;@1?00V%43<>#.Q: M121PL-0+`LZMF`#5N(/D`.?8@"Z'1CD8YHJ-T?"HOIFE+`=4JW^;X->-@P=$ M_[2C7_QP1Y.MJ+`!3R)5ML+;$FB!5Z$\'SC"&P:EZ5H*S__*'Z:"SB5?<(L7F4'G$VQ%CC[^E."DR5A]M0HHB@O%'C/7X7\:JHLV]4' MKIM>#6I;/7_`VWE"_[;)U;.!+0ZV%HTEY?LG$G.0LSCCK8[$WDEU\'YR?CE" MAWGV:H^7=B8ZG'7Q>TCLHLU\G;VB`?=$)MI-K)9J1]7E*'DM^>)+S[JR8D)N M@TB>:2CN2"\E9E%"]'!8!V:_XX-]ROGN!YJ)PK$W"7L,5W3U]NE3*B;E>B(L)1O,GR7Q=?`Q$][0L59$5]BP(#CH^:`(1LMU MW=WBP?*G%B"#@S<`_0DR_(;=3(@A.RFCJSO6^5Y62Q6CEI(\ M&BU4.H%^QB.8R:4]Y?269E96P!45(-6LNDQ'/M``3$>#S[E-L11SPL'++X.7 M70ZXW'*H*1;L&F>-I3/%VC525-4"R^2$=H70H'45C/648>LH8TZS`'=C3[,T M;O$@;)YF58ISGV:-@F:W:18JG&>X9Z"8$+KM&5@8<%X?''O/0./R`'L&9N\X M:R[Z/0/5RN'TL[^A"!NTZ#)XST!C:]@:S,QGG'^C/-L.(L<9)Z!EF''VM$:: M<7;\'&+&J78Y9,:ILK0H?BP+CTW.92=06$PX-3UF-^'L&+"9<"I]'@Z13@FI M\8"6HV,D8)XH%R1+%=$)WR!PX21T1.3.,/VLKJT>FGY:&-"GGUH#XZ2?&I<' M2#_-W@>DGR:CO?2355>:SSW]M$&8.?VT['.K]%-CRR+]-+9D'NFG+LG4I9*X MP_,8:YL]Z]8#[9#MO@V:,RT3.G`X0\_/<->%>Q;=NK\D[*"2M[[5[+W MSSJ]GQ\(?F[];I,1:3O^>60W@[.:P=G,`;.80^T$P:YQ4A?-3M"K?;F*KLI@ M)B>=*Y@&)2X8"&`V[PE5BG/?$QH%S6Y[0JAPGL_1 MNT8:<V=VZ_$&=K6J5X^`MGK^)+#S-,:HZ>39P!T'6XO;_6X745$(A`?;55TXEZWSI1RQ`\6S MV#5+MGPNQN*IMYR<4<0\.[C'4SL3'0:[^#TDC/$6:UR]HF&XJ`DBP%I_#AG( M_9SRU*[4F]1D'-`:4"+B,4+D;D!^S-@2V0 M$(L7O,^JUD3I-E],"$Z+UQ+`/$"8,!7ED9!A-O7$<:S1J`/=V"< MO&QD@!-Q=VA@+/:K[#JM]UNL:$(^W+%Q^L-"WJ40L2`F89KNZ>KY(@%<_W=' MPK2[`-T6@WS^L7="R!GM+!I[&LM M/VR6WR$=/5WF\KV&\GB*\L('&]'&#ADLBK";`!G'98_1CVG'0*L.U0U/9W*9 MA%5_,_=^Z:_\0UK=Q7Z]]4S[M?CAGO//*CS4WX:[JT`Z0K>6+-V4A M[TDIHP=,7MDZTY'+SL;B.GD(XO!/N4T<1'(+CA6:A'[=T3B=^H2T/1;8P.YJ MT\VHVN2QWY7]"60\1GE2J+!ZB_'7BLQ;F MCF2.[[S##DBEQ0J]W?FPP<0"$_KQ48_^<1GDP0GJ.<3OA*^YC`I@5^GP[8!K M+9Y1EON45M'.]H#6G3O^A&<)U7=3[YYY[P.+>N[=/^5IF:I!^=6U^8<5MUF0 MR3.!\L>/])'&^R[TW!6[D<]"$8L61E>C9`:V7JUH9&=L\3$_R9E_I#039MDC M1$4YI[X#J&BTH>2HI>?IN-N8<)VS.&51N)+_<1:O;C@U!!3$?UZOBY-Z053] M&6#VCFFS9#R.3=]@@-$*U#B!V"!M"$'STYKBSV;9&1>R;$3$=*(3AOE6X,)K M[_.,:?4I$>A2^[',8T0ZI?DI@YZB0:[QS^*CP9&:.%I$A%RV@N,SCH@ZE&,% M1P.R$..DPA-:R`3_BAF2%F\Q8*3&'9JO)VW"'I&68;E[T30M-MXKXZ2V3AKG M&#\+!T1Z>,XIT80!`%I2>6818-(%G6Q#D[,TI?V=T/Z3,FUI/O$-7K6M,9*% MGG5MW.A(+^0/))"_3,Q016>E+UY]NQZ M$XIR5MTY>6RY"H/[,)+EN,P?I#AH-&.120,#T7H?J`L]UNZ,^+>PLKBE4423 MOZ1DF=!5.'&5#!<`=!ECWT,*(NF5>P2S\34M[_)U:!6_VD^:/"J?8/`EMS76 MF-ZR;J1!0[H8!6:QX:'HC"ZF^V]1@=VB7'$7HTU=W![%'=/;=ATZLQK3+Y]= M;^K&=&-W3CFFWP3AZC+^MS!>`34K88'B3U4)>,*S;Q)S/`:MZZ`**"W$[\=A M?/P'?U*5>YP6N9H>8[;ON`WCOFP3S9"E"3$MBA0HS]6K'E4X;C[R1G!M#!>[ M/;MZU';$%Y?GUQ_(N_/+UIT'1^3JSO5%M89W5-ZB M10II4HN3ST)A>CJ8NYZY=U&/+J!6ASX&Z[.CTP7;!F%L2:BVL(%2I?!(I,K- M'X)6+4]#B-4PL-#Q*9>;*:,Z?6_!J7X/V;$JU[/A5=/#U,Q*B]:IJ=1]VN9. M_12'+*4]]$/N:OL6G&AI%`?<=\6COQ#Z]WV8/?5(&/]W;Q^W/L;F`APZV_IUW0:#4'..=JD%('+[2SJ(#= M$89ZP(4#N-LG0&_F'-%TASDM7KD6\:H#EUJ;LR'`7?C1U5Z\#;CNDI)7/,5+-P'_\U_/BR:J M?M90!>@0/5T:2CK*]&R/"R:GI"%'T[MXY8$EQTRBKUZC:1\'^U68T=7KEXHL MN]QC(+3\"V<9'*#=F&'AQP-2IXI$E11"1T2*O21,`06W<#`U90DN==-N@XA> MK^T'>X6\=LAOR8_"IX:'$0X;V/IT)UC7QN(F84M*5\7][6F05^^*PJV(X=72 MP";66.'N$&.D'=*(-!QNJ9B;V_!P"DF.M/,#>O-&H6IVH@_YM@!X8#J&,60\B[G`(/[J.MDZ MF7,BLMKCP1`\\K@"N<0!+Q]ARF$$QNE>2'\#,'6?R'KC='ZCSD68YG?SABRV M&W*4&MKQIJ,Q"E5;/JQ'FE]RFL;T0=REXS[2J+RZ,[5O92'OM%\U?Y\C']50 M,)(1["L;(K:4S2Q4^#H,_D8>)Y3^$*"GGX-/6I864!FL?4-]>.0VMZ]"\=MK7;K;L]TJRE+S<[O MM(H7.N$@Y`L/;5`:8EP3I(:W=1Z4&G"
G80?@UJGR\,]WGED@YCGP;-K#(T^R@-7UNO@CFBL'O:3: M0K9*E[6RWG%%8WV4E5FS/WT<,.DK5F,%TLH=E*FY;M/Q;$#_=.FI46L3SVA_ M;(0AKKU:>/("EUQOS67$KERYXMH4>VGX`O,L+(!-NYZ:-^X]2S[%*YI\2<+& M31)`T-8+=Z(V)(Q$*K5YYR_XJ.'N62MW-LS2&%@T'Y`UG?H6$\ON5G#)W"EJ M+JGU5&32>1@=6>CQ6N_*#U;-B+UF"6F!K)![>3@S!&T,H,TA;%^O;S.V_.,R M3?=B2B>O^0,S;5BTEVBK1-&RH+[Q4=-LT)U=(@2HRX-)J?I"2IYJAQ-?)V[5 MZ\HL2-\[4`[4UU*G0)#UD<$U0H8-._+!52>_ED*DE")2[&4!RYA=^R%K#D'Z MCITM_[X/$]JY0QP(U";Q3K"&Q9$X!3D8,6@;7-H03&MB<1D_TC03@B2,22Q$ M2%+)S(-A1APH6&;35VJB09HJLNF]'`!VZ.'#04=+8=09>*O6U[-1X/!@NQQLCM"YQ(`F,%Y6\ MG'>^^W:0:CN$($)U'L/);V',DC![NA4?XVU8M*()M,"C%^X-'VIA-'JJS(\Z M7&@. MNE^^7*@98[P_UB:-Z<5GV._Y"SSGO4F7^0UPAD4A-ZTRRMMJ^5+/S@_J07$G MEUHJ.EA:W"1AO`QW050L$]$58;-;.'+$"O/JR`Y+[0RTZ.KB\W!`=1HLS.<& MW!PCX?6D6_5!`/4;PRDTG(P*U+D,,#;3!DMQQ9`RSM3!X&"L063HO,'&1'.? MX?YIKM,&6R``/'2<.A@T(>)93Q^F(5RY\7B]/F?;+8NO\O(ZY:EN986D@>H* M0MJI(Q+4QN%8A'7P;4M@:Y-5.9HY5]P;BBN`WZY]#?/=QA+$?_M63!D/UF%V MQ5(%TSL/:@Y7#_S969A"YEW;JH%13>'%!YH55VB25Q'_=>JOC/J]P$SOKX?E M0J:#TI8F:D3@(&5TN`[*RL;BB04H;W"-!)D]`D\^EW%SYI[TSR*6W++FGO$?( MSL_\>'<5QO0RHUO%+,I2P<2\AL)8U*M<'(1[76^#R-*AQU/\R/BVR3.-W3\95EC#IU#6JXTI;=B'_!^ MH]M[FJ@@UW[2!%WY!`-VN2UTX+7,&J'7D"[!-XME/%4_=`'8?X$*".9"/1`V M=:>#875."ESLUHF4P%2*^")48105JK!]+68AM47CF-J,5J.UW@JL(6LD>D!/T=:)%3;'@7G7O!W*VUIR>[+]F7[W:^G9K`/KNE,) M?.7[AW"?JE9W05L3HC[)>(-_+Y17.2#]O70 M!]06U\E#$(=_!N*<<1`!18:2IOK$9\ZT/
Z++@;YTFP20M0E9$`7%L;2G MNR2(TT`>%D_-"S<#-"O..&AZ4\G:ERO#+$XON7O7\\_-VJ(I1+Z$V884)F0Q MZ'#J>HU#$,2\N[9+66LC;28[^CXLC-$^(!W@%Q'!)V+J4`/VB;0`72N1ST*- M2+W)4ZM#8AHX*G@84$_Y[1#0U"M@*]Y67#]`7:%MPYL*7:=K?S,@O"`8MAD(""5&@+85V38Q''81%,J=0AQUP6 MP,`N`^!O7OSJRD(0G\G"EWK``U?![,0-TQS$]3&]@P.,(FXK9Q8FS'.6&:VB M6<+!(K^S65_3:]HD5,W[^U3\XEJS]E9T4!%E>)(I.R[.@0]0:]#B`H8 MT\S1CL17Y)VA;P[[Y^XXLN"POH?MV-RW8<-KR/.$#-]5=:ZOLPU-KEC\<$>3 M[06][X^J%K(5C[6RWM356!^A%IR-/SU/3?J+2D1\`QZS^#BA2R96H$G$98\S M+DQ67'IJ/MI`@`WHJ2[K-&IMHAGMCXTUQ"4\"T]>,#MIX$S>`B"ER%6%L(L7 MB#!PZ0T+8M,NKXD"DDL>O\35?&>Q_!]Q2/$QB$23>R'<3KR*XB9Q;W+I'>!F M7E:^]`2S,+&HILTVKVR\3,@LN>O;9U#[YXHIY<_> MC,@-N2+?^$U_Q[`>Y@W1XD;Z)/]M:C!W7C[3O[@N.'.)-@B;6HA]AY@5M(W: M=IPNO M\P"E?@D0?IUJC*J7^%16)H/L[7)#5_N(7J_MUBCN%*6#O6P4;VZ@#4^&#/** M22.?!NBX-MSNHE05\T&W!4)I9.(50C\L,D1HM$/"('/-N.'1GAD$%[@ZBS:> MV*GU0HA)#2UJZ!V-$RBL?-K%!@M3K7!@J-0P+_Y;8D=)>?M^A5BNMZ`FMHW7 M&7#Y;+ED>SXAEU])7#$>@'A;WX=Q$"_#^*'QF8R6VH.L])CN:`6-^$Y^QXD# M0YI@%Q;<+;>B1*E^E']'&`5,91@:C!(HJ3@;5069` MFYY3S`&^>4"P-#SVH'T3X>%[XACD\+&$K_7.]WRIZH.^9Q=K=$?/D5#A'7-4 M)].]VS9=[`D?XG`=+D4JEC>=-_.&1>$RI"D89IR4RHABJ>0;/*S#@15M8\7- M)0Y.3SA0]>BOL*B^FTFDT5USS";]]D!=DNN!6"%A>EQ>@5\IP<+=/%ZA?8M7M_D*+CM M6K?";ENIB=^KN7Q1I^DR%9"5+QD`\Y7J.SG(TO2@OEZ7E_N MH0MZC0(6"4`7HY#"Y,V*)'HCBW,6IWS`7LDMQII!/*,_WXAJ8W)F+];(Y<<) M\_BTR`$B*I)9=2)`.E!724*#ISF04IS_>Q^Q+]!Q&AO1/A$5HG@4[!D?B7R0 M'TO:J=4!PLF#X4*#2!7R:A\'^Y6X$NWU'&D'0T%-.&V7@53K:0$D`ZS/@5[% MVEL0W;`T%`<(S#0SJO3IIE'!HQWH9"3ZF?Q9TE!OIDW'MT$D+B4DMQM*L]F3 MT`P4-1FM.A(D):@-D-/@;3J2[N]3^O<];^.[1Q&`P=5FDUQ)1UC.EX.0Y3&6 MD0V^M*33ZB[JQR1_/C&1C/W*'+N@0QE(I<43O=TQ@8.WI&OR,A@S)PK0S&FI M%@U!T(*L-X0F77;M-`S*?`QB0'C%RW``PZA9C=Z'"T':V8N"'G/)4TS=JN&& M13X":.B(,<^\`RR?;I13$P.QD#IH>41J.)54U^OVR#&GZNKFWH7Y85-G'531 M,&0V%=<[[>HMG:L9TE]A5Q+D"F]K!#`\(CVZ/AS8<=79+.F28T9[)J9^A:FA M[`,M,ZZ4NRA:JW/A1?<"-GC@4-1\`J7P!PWL:DYZ%XX#1EVG"1@N9E"0R=2C M^J%"7VH)4#`,$S,HHM1ME>ILAT8$H`'..0^%T3$)8'OF`U)3#`:S.`"BZSX- MY@V'0132.K3/X6!(NTG*V[^T,FJP(]T(IK0Z(MRM;PF#]12`SY_."_'P)6+& M=Z[%?/]B,8V]"5&_VT5R$R&(RAV^RWC-DFV@VTASTZJ88:GES14K/Z,L[+MX MUM/*WM*B*4Q6]94$;"W+-)$U5R9AK3UQA0I7]#"OKNV2U,I`F[8./@\'7<2M M!2>?2*@]Z<"V.I9!&@HS6F@]!&3!'8HQ,3ML]R)5=BYJ9#L@G`E8+?><\IN<_TW MT[)S`)R85T>WB6IOHZ*KJ]O#81EG'''WB83BDQZ,"XWV=90I*72^$>`"0\SH MR.T/-R-"]Q1I#CW0-1*"3RT#\3>"W-.)D'N*F2C]'QH^;#*Z.N.HXPX^[,5Z MV_7Z*MR&16DY\='()MQ=QAGEA,C2ZWV69CPI#N.'#C%0;!4OT].6#[6]7*,G M71BM`?GO;WQQMZ$DR-5)+/7%DEJ46^`I666"A*4-$J;IGC^4UT_7]DBV"?AT M*Z%\ALZ?AC%9!M%R'P7R"_G[(`V7A`9)S/^+YWKOM'37=16C,>NTX;['(=!YN#WRL^WJ4;/OJEK[\S386E63(--1?_ M0+,KEJ8W-.FT"VX/G(SC&"M>NJ\QGVCDYQL]'T=I#AB.$*SG&?E6U$"2E\G1 MC$><)=M2PGC*S(V3-?]'QH5X#AVRE4RE:;#<:(/5Q#DU$IH9.J;:45P$FN<=HQ(MI.\_*ADE:#1EVXFH*-4<_C_SBZ;]'HV]/),L/T;@)IA MXS1G1)J=YC0KAK%7@FZO29!E27B_S\ICL^_WLN+X.J,T]B.CS,57+(J")*>U MS,LG3LMGQU$@,9\-1U%3ED;.)["`9O'&9*,+,`X8 M-(N;!DN!JM37+,Y#F_N5.75!FS.@3D4'D]710.,TT'`>:H89HY]AR#G])I`# M1%M/Y*#&R-L@HJ+*^_5ZS2>6\4.QC]G[*M`@5AZ$!\5\L`Y915\F,#@"H:[5 M6\BG^;Y9\;S<@D^K?(C*,U"=7*=>=)QX(F_L?>;04YTCP(!&106]R;%@A3/L MFCP,`M2)%E$O`"C087$?I'B.MCK3=H/M+SE48OH@2L6!PZW)T2#$G+YTQ`#C MK!=B4$?9O(H=O91SX0[`E,^*/Z3SS`?"+5/H(Z?*.HC5OO#B`XN/Y1==^7+! MC_49M>(DB3@AG*N1B`9I`>98WAF45!?33#Q.JKN2F7J@C=J66`55A3(J&G`& M/*59>QSPH:WXK<#!L^I.8-RR[$_/$:IG#W584EJW[]?39]VOP.ABV:^HX\@- M'Z66X2Z(/M)=\"0KI,:%QRL1%3O(L!4O_C"SN`]"3=;1QR1+AR",K?07YRR* MJ+S<66S!.&J@U.-1/D1NTK"ZYOUOD'T9`'V`7^7#JC(LUQR,LOVF:Q0(LYN MK0IILLS%FQG!NKIR.^"9Q&.8A73JL5[7S%ZZ_-(4,CH`:IL`%L MW!4OHFQ!B8WB$1'/GFW_0_4'W`'@.9H"5E$'4(T/5R"<-H!0!HG==/`1Q^*<<"H)(L?PK?LHV-#EG:99>[.D=JZ\J5Q>@P#19O"P4^?`2IP\"+,UH_/Q!)N0W_EHAMYA-&IV6IY:T M_$Y##TP]`QH>-LG/9QBK.Y8?K_S`.SA(-W=)$*?!LIE]VJ;XU@9M$WP+@Z.& M+:/_PR?WMDT:'K/L/'0^UV0VX4MN\'VAB=P#W\M9_FHO10(2YVY(5ON15O)E M`#D]IK(]_LTT-JYO0;.]&W:L0ATWSK!HU,0ML4OS?>?2>< M'D,S)QQJ2O\I7M'D2Q**\\#O*2UF$KS[;BG/I^2F:8>U#AK%B[32\(DA%@[0 MTVI[GV`8L#6Q:`J2-6U,V\^O/Y!:>N)$U@49;%C7M:EIH5QQS]K1`8"(DRTZ M./.%X(D]!E\L!(%\;`0,>F94EEY0"V%[;])-`+)R@AH M1$TW?J=I2J/T?7DVZVZ3L/W#ABF@QR#])R@+7%#7\SFT#4+A8SCIW<5ZC/XV6Y!;%`=YP4-DC$C1SS MF=F6K+B9B3.9@4ACWOW?9K.;G8K80]P?%NXX"=`POXA`YVE1H>2&[F\,W$#F M=#!T>^93[@X15Z.&.4?$^.EWC#MU^408/T26=KN_9\F*_YC1%6]*66WL+0W$ M&M8MC7A2?GN>T%5HF;D-,*C/YIP,CA`3'/P?*NMS;Y)K\'#U8)D=I@VS1S+2 ME)5[CN]STR25MO^2DJ6T/L^D<0C(#7%H(,RL0I.#;5.XE#-G(#CY,F.C1@_=Q[0H)%IJ,VQO],0&UDSIR%J*O]O0?QG M<,[B-$OV<@?Y,EXJZ_6:!8O7IA/T"1^P7?14V>@*Y+M!)LU:*_F5//M%D%ZU1L,9D=#TPX69[9QT`8\:P,PLQ,2OFB M@0=(C;S1@WJ%>GD94BM2=X_%Z(7*VX,`(:\K%)0VT6.FU@U\XP&LM?A8UV42 M=_#45X6Y9SRY!6Y*'#$M"J"L2$!V+"F+2&5?&%ENZ#94\O6U`AISX\`1Z28# M'E0?"!M[J"/`)8\>81"=![LP"Z+B8'P'LUJ9XH\%9'Q8HC2)'LUU7D!&P$KR M"\HP?TR6K>=$X$^&X+_1F";U)3'RHY'.U==E="^B-3DC#X52=8E&*K)K_A]/ M`C]!ZR*Q^WT:QCRS)E\VC&R"E`\2Y1T<41C;W.:,PU59:C5(X:1![P M%.E^\?"(FPR7&[*E02Q&HU!>2I;ROTYHB2IOXL^7JJO@Z3ACQ_Q_".,R\AVD MY=_5:.V;ZF\?]*?U_[!IXXN>+4(<.S<749_MLPY+P3UI]7M7!UR#=XA4XZOHPP,D5^M`TQ#O( M&W=CG6(`^MOC.?3N*4F"4)PIX5&YH.#$L7@8S)AO[[>YZF2FXO``YP=%.LX8 M,,@M'L;YF'&EA750J55?]7Y3B`:&GP-!VO,TA+,_Q(,/@WSC`?OT.[`MNWH2 M8*.>+_@M^"KNYBCM7Z]5[>CPPTFG>$66.CZ,M7*!GF>Y>`4I:F^DDU<]IWS* M#39L:*^V.6FE7G'1P=E!D(J3)SFY\\^8ZU M'\0\Q\FG/S!/OP,STWU\/A(P#YZO?(K[QWN<]1SRED)O;/9)-Y/D+TW/7C2L M#J`@60657 MAH[<\A&)I.VC_):_5=.\/*,2U0Z$CO2@.-!1UO_.K\O3>QQ_ M/(NZ"+(NUQ$M%IV`8M'O@GCO!J#G]GAMTMPRC^-B<;[?[J-`GKZN8E%UW#SE MELTG^((JE2^/T19>B'`S<0:/"7DV#N;:\0S!>!72T!HZ`X;B)/2(C1F;FSRM MOVDQ$H.-W\EH@M?LV3CB5USG+&Y\1I;MDYBN.I2V5U!^WZ56P/O61&5_Y"^_ M-"XMOT4!+:B^"2/+AC1)"O&J?'YADIRS9/>&['=<9LFV_,]94OD]I;B!F"D],7C1-@ M*/7`">[I:3Z1W.ZW-G5;;$3+,]):4:_#>1K+^">AS<[@,W@F73FD;G,IJ,2+ MXC#,/5VS1,S_134?QA$3\/\*5APEV?0'H6T0PAQ[LG/T3J-5G[8SFAX3@DCG MF"V\#`:?.*U<(*]:Y9E1D1-4'$%GD#&`Y'O2V&`>\W"QA:O!<#JMX:2K577. MMEL6?Z%!E&U$:+NA<9P^18]!'`;R#,1M)E;&^9,[_D14XNVEDS$JP\!:9F$+'--`4LJ=2=. M,`8#C2%T?IO(KI8J:@]KPJ$1CY.Z#/6,BO63'MBY7OV]=I5Q%ZKDCI%<^1O$ M.I`6'13LGJG3$)>(R=10]ZB0/QT:W[]!R`.)VD$AC_NM2/61[O6Z/M)_%L?[ M(,J/85S'9P\/"7T(,OHI+H^Z*`YM=)=]1K!0_"_)4%O&WQN M'=F5XNOQ9?VU22#M%H>NQ$'4H#1-]I5MY4&MJ5>\QF`$&Q>*G4/M>$[JP^W8 M#9\1H9$^/<%OU*&H+#Y%&8''WVGL"L!GQV//O!ZY-8@I_P@M.Q2;3\=A\[P^ M87]&[`8F(\^`W;,J7W6VYHSMR=X$8?<3MO$=(96\TCF:LMH'W*[9E>>TPBS"#55[%CM"X=5=@GV@5 M64Q_UGQCZ#RJEYG;.%'T1*UX5@1&("A^CR&X@'YA063BNFOZQLVH(INYH1.% M$MPJ;MI0,J\)\HL)+2/5A9L\M*!.KM\&:9B*5M*TG&[Q-O$)?$BLI5FQ0]A97@V&_A8%.CO#""B#]H6\'2AV!1`:?1LV(N];8_4 MI,/P]F04XG[GK0ONGA5QT7;J$=HRRCX]4KL.0]_34>@[KQ6(9T)GX_;\+.F, MNGIPR7M1.-L)ZW(&E.Q8$F3T,EXG`9\`[9?9/J'O.;+>\PB141I?W?Q&15V; M3JQ`L%36E?6QY%4@<;AC_$JTWFV!:RIZFEZ6"K-CW91'_ M5YB6_Q'1%;E_.I+64B)V@1/YX:DL?RLER)5X1973RD2Q?%@8(6TK1)@AI9TC&UQ1E2":OQ.SR74M[C('\JCF6Q M]O43]P'WNJ0DW5":D96\"8$/_>0+3V>)*/D4R_)1'-_!DN.ZJBH;\U:1I&K5 MD0Q+N2;;1ROQG#`NF'P)4THVP2-WQ<%>5\D1`SW;9RIC)'A(*)W!$J0'`1@* M)#LU*IUMU>4K!S;C\&Q$*I\[V##!#4!F0:.H?SZ)S,>A;Q3>4`GB0\,;=?7I?;"D MW,$^YHZN6!#_%JRZI-")%*]"+>)#0I5%]*Q/XP1D$JBSR'\M,S2Y,A+P:0,G MSX[G7\MPQ_\5<0VRY2KD_DF*-:ZG(D&>5K$D?`CC:LE9?A(@U%ZMN6L22"^O M)TZQM)A@EGW8YI%*NF(*;&H,D.$D,SKKSO#B"Y<`;$*0P(16QYQA@!AMU!&,'=N"DVCS[RV;:R/&$% M!N;8:=T;IF"MQMU2)M-CH@WK?CVSE\$X.VD`3H'GCB9;Q6:=6J"Q&=<5\%W= M;-L;93--Z4*[/*G0*.LXA/E9NRS<4O)E0V/E[E,HKG@0>UUY^P)05T,[/JF/Z:8UNVM::H,H./&;PM'[5M1[046S:M'1OQ[)EVO&8S MQ:GG$39#^D:1-SO4#AS[GV=7\G7P0-$)#<\4`9K]!B<$H"YZ_"N-P_5:>?Q4 M]:AH>ON1#QZ;EM`'+H5Q$(0]V<49$4/J49W:9'Y.KJ7![)*,7NKO+?7BW%,1#TJ=T6#E*[J M@WMRT_0NCWU?L[?Y\@HFU-+/AO^RA(1,V. M9<12<=RUVB+=[EC,E>6QMD@:E%_8%"=F\^,&1R3.3]@$RZ*FF2A"1G=\?`_E M'SAQ#'2!%!O6YVV>62A7]+-V=``$XX1=!V>^V.5!.I=L'.,^R\]]D<]2G`AY M(A4F#N`CHA`(]R/`T'.N8ND%7Q_VC8[S!3#H1__M(*"V*'X5IU7^ MDX5\$'_D+>"3HJD/I1AZD]F_>L7G>7V%]J=WD,&10(+X^2GL8`@\JL]&SR^K MTWOS^QS4#R:ZSSB'X00U^/TO07NYMEX<"VP%VZ)L"YTZZMK" MA[GW<9M=!L6*958.1D8I3G2V=.2#3QZMI10IQ(Y()3B;,X(C(`P(X(@0\UP' MLO"`N`9DZ9W7>:P3@`H%F\$B=-'XXY.$+//-Q]@^1S-24SDL<@VI>7 M"E47YLCMJY0$*W%'#L]%\KH+=.J#9T.@Q/SZN,U.!R,54YT='Q#).-G)`*=8 M&.992Z&1+Z3S"69#*:]J(``L]$BI^,V`&$AN#H!BSZ3'T1MB`C3`,Q:6125/ M_D(V7%I\9+VD98W.W?0%=0\(6B`Q.@!H41,F<6#Q>BU==Q"N>%+\J:TG/OQI M&$)/6/JV00)T1:LSK;(,@/AYXH1"U15,_P[;J&P(5:CK*2+V),Z`K3!JVX,A18=B+HB>QU&ZY!&JUN://(0GU:;^;LN7LB0MA!OG]LH]^EGLS]O"@;GW69L5!L6**58.1D8=3DBT M=.2#-QXZ=4B;QY[8"!`#(B\BQCQG&Q8>$&<8EMY\D';:0%HIUCAI]V*1!DP= M$)&&.D7X0+.Z%/]E_#Z,11G4?+:B/?COKEA^?^N@Z/6AG;4?_.]U75W#7^:Y M6;+^-D!\`="X:2.,R3HW72R[3OUUKSNXF%>W=[X(M+91?RGHZ/9PR$;ZJMC9 M)Q*FQ5?(!K#.[MN!@\$7^J9Y;/SZ?@/MY`SSVVAGQT@H/LU1?-E"<:%3[!I\ M(Y"%/L(>&[*X15X;]Q8H%TU@@;+`JT+`J]IBSQYZ5@.Z@$LMJC6^7[:C+^X( M8X=9]7:GKF-/MJ[J")C!!R)2`5C0MB,$1?'7Y@TQ,YF.#NYYJ.RK:]>C?_4@ MHG$8/TAOX5I>\Q(MP:\?+*0;7T%HI7T/NFN,C_)5A-F?]OB[27V1CY1LEI]) MV'0[<^^;_G%XC6+K6+S1P+:K5PPK[,RC\`Z`LHT M7UT@P0RWLD<8T^OU><)SI>Q]L.2Y5_947(_PEB4)^\(;2^?"R.4,KG1;8KE_^D0;(N+%;73G$8 MIB$7JFY'".(G(J^FXD.$J.J8A$OQ*!6U,(6AHCRZO.)J*:^XNJ>%Z_R<9BV4 MEH9$+K_/TBS@V;R\AZML5=FYQ-\!ROUM_C.K@]),:3R)`.\ MHI%+%"P1'TAS7N1*I-2J+Z^J%$FI^0V!&2IE<@@T^Q8W<72'6>5D@<3)_J M1HQO"+I0+91#0!=U,5+E_,->9)'7ZUNZ"T0EZP\LODG"+14UFL]6CV*AM/N- MC*\93#Y(*.C3$B>76=N5'-K&4%D-96LB3F,7'.Z&15SL/"IT\ MN0L2^:GP-LRRJ@"TK,)9IV\IC4.>\:64YWE<)J&/+'H4X426[)QQ$:UV` M<<68.=;86-3&'?LF346X\1)#EQ:,0C4X820?*OZ51@BW0J29_#:4TM!WOKCD ME0C!ZX&ZP4YJ>Q:MW7W^JNED"CB6NJ?B^.UX1 MQI/)A-#"&A'7B^1??$N#JIM=BTKP?Z/\!SZ1+6N`B?VM+*T/%Z1DM4]$0II5 M]YY,O;GOCD_FA9S.CK"UC7JGV-'MXA>OL&`G&IPT8ERKDIH!QH?6-8!:Z67=LS.+>PLO?9/G1 MNN:L#B32.*#3%_$]-]&U.,I1',")]IR$4N?[.4?CH0P01^`= M5ERZ*A9K+;7*6&EXZ>$P4\BNMT%9=]N(S;2QU)CQ=+$'#IND6]EY]NEVJ6Z5 M:'=\X;'LDTC.O@@BQP^B`1T$0X^+/[/_V(=9P1=:F(/-.O7WZP^*"!A%-CK=!'#SP MO.B9]C>P1N34WZCK/8V:A(JQ"'A:-+[WU`>&'6/H`Y':/HA"E;CB_H1&88*@ M4?55[FW)K$QT9"U3HG=N^U)0/S-SY[2!W!&L<*PT@`P7G-$),.P"%#XVG77` M\.RZ%QB8'/IWC)GIM=@J5F;KZFFI6;X])]7)(TQ(8?-C[?8;/9HFI`8#BX_B MYN!4%A;*F"B"77PA]&UO\%O@C@V!AG*J"ZMVY[DF)Z-#''7!Q>S*#]S-I18] MA%\DYO3K*UB@P]EPU_O`WV;MAX`REA5I8SKU4AEI\' M+CY(WO'Q7]Q-%Y65#F/^("GTR8H;F)9#=FA@KIW6IHY6K:*-A?%1`8?0V[.V(N M*F6DMU+Q8I2%!_QH;^\4YI:MC87XESS=$=$T97(IN#A-S?(ZX$55<,FUVL#4 M@=X%+6Q@;W889Z%=<\[:U2'@B13R';QY`U.$_1*&^15>E31IB)//0F'BTWBC M@A&*_V.@$;]^[]06<+)35Q08X/ZP,$>J1C/(+R+`1>69'-;721YTR9UA M1,J5)QZ3#@YOJ+3,H?`]:HWUHJ*[;9%U2!RHLMX7QRR$W;4^RL>=%@ZM"V(K M]1?G[#A\)L76P>Z'ZF#KNDA?![NK"1;"5KL8&V?C5%R'/'DA3%USO9"= MZ&BS++ON!3?<%28.RPT?%&Z2<$FOU]5]CMU5)8-8N9($BGE-SP&K^"M&>D?P M9%RGMZAO%=T5F:M-3D6>)#6!L%&K-L4 MC\41DJ59-!97:<`5SC2<\"4'%Q41P>_+() MEYMB\/XB[V*B0J>Z\UT^6=59[1R&<&V_,Y84P,V+`(QNS!T.&-RQ M=G_/Y^>!.!UWNZ/+,(A$5;!SMMT%\=-5JM[^<5,J1V%+)2\R6/G`'Y]=W,(\ ML;=2'Q4*YGSBP`TF;'`G=NAEI5]SS<'=8;")--`[^4-`I4@!:F'2D":%.'GU MP]7M^0^OW\QD9VET@$(9PU@(15U7+2_L.-_0+7*UV"KYT,_.!_K0X.06)*&#E<8%.,M"FF12G#SF\O7NUL3C@R-6V."> M;+//3K]BGXN[PP`49WQP\X<`S1,G;+YP:`(CPVC8K$:&YGN]XO_B/Y8_\?]S MS^7Y+_\?4$L#!!0````(`$HPKT(BE'Q9)"\``!OP`@`5`!P`:6-O:2TR,#$S M,#,S,5]P&UL550)``,L79-1+%V3475X"P`!!"4.```$.0$``.U=67,C M-Y)^WXC]#]J>Y[[L/:8=X]W0Z=$.U=1*:GOWR5$B0;+&Q0)=A[HYOWZ!NEB% MPI%`@0(@Z\4MLS(3R,2'Q)5(_.6_OFV3DR>4Y3%.?WSS\=V'-R!EG*Y_ M?%/F;Z-\$<=O_NL___F?_O(O;]_^A%*4105:GCSN3R[B?)'@O,S0R3U.RH)( MR$]N[^97U[/+DX_OOG_WX=V'DW.\VV?Q>E._N6EI[$Z6\_T/\\1CDZ M(;5.\Q^^Y?&/;S9%L?OA_?NO7[^^^_K].YRMWW_WXANG M>1&E"_3FA-#_D%<_SO`B*BJ5>^S?'K.D%?#]^ZXL(07]O[A.;6*]DY/:?AE.T!U: MG=!_O]Q="[D_O:<4[U-4S*)'E)`B*_9BOT,_OLGC[2Y![6^;#*WXFN*Q0=<1(F=>E;RQG4=%3.]TI]MF596Y<\VK4SZ M*7H&*_>*F5[I6Y3%>'F9+H]?<;8H6Y6_+Z+L&:`R+FRZ`L>OM495XP5.X_0) MY<46I47^;H&W=0GWY6..?B_)CY=/],L%*J(XR=7U)A+CMW0X^_!][?/_)!0U MJ8+G>+N-ZQ]/T^4Y3@LR.)-!.D93Z@J1.JG:5U&<_1PE);I!$9TD;"<:5RYO M4E4?LBC-HT4U@_DE+C9W**GZ!.D,TXP,%#RI\G?H"2=/I/%F<8KFJ_,,+>/B M#BUP23SIA+K#Y$ZJ^F><9HW`&4[79"JXO4"/Q81*JR1.JRXJKKO?K].K.*7S MJQF!XQ0[0Z1.JG8E:GGY>QGOZ)?3XASG4VPLEV?3PI]Q@7(".10_18^)12.+ M!$\<2+;;*-O/5_?Q.HU7\2(BQED0,%:N]18G\427K5G`)&7FV3I*XW]4BZ0) M5>:*L3^L/-!6M#>JM.*..*B8UQ@F]UB.SKS>`*'VW9QY=:7BCNCDK!E8(/<9 M7%S[[_%\W*$$JU-_&W/^XTWV+<_RC^&'K7G@H_I>^U[WF%-XZW/WXTS:+<[6 MCS=Z61ZWCC%B61NKCCI*V1^?GF5D.MZ(9'&Z/76>/7D$2G.BU)*ZM_N"_)=^ M)SXDRC=7"?Z:?TFCDG@3M#0;C\#"CZ+$)B+#7WZ=TKY2[&UJP$H^1O7G.WKZ M1H>@8S0"5[HU-WVM&B-6YRDY6KQ;XZ?W2Q2_)XI^1_^@&G_W]L/'YK3Z3^2G7^L:W*%U3`M. MB\_1%C$JRD@:E?@D0Q7ZJ#C-ANI$V:*52/X<0&)\QMU0O-]5??SM8A,G'9I6 M&=YJ-@H&:=BO_0\GD`)."GS"%XRS)/G.=[S4ZOV"DN1O*?Z: MWI,5+$[1\CK/2Y1Q'8N"=N!@A+3!P$='YRD.1UA"`Z3OPP#2SS@AZW&R3+^* M$Y3E7``):`;`&=$$!ABYCE.`,I+<`.1?PP!(XS'OT`YG=-^&KGM+/D[DI,.) MC(`T,-2`-)XTK1$4T&#HW\+`4(7\E_@Q6_W&V+P?%X6-/2:QM#S'0R`8>AFI`R!84A#^TDN1UI, M@[#_\!UAKD=BVO/>[M*U^W64ESA:ME(9Q``Q- M,(B`Z#C-)3"26X1,W9?]R_N1:6?DA^.>N`+.IZ?!=Q7ECY769?YV'46[&L,H M*?+V%Q;,S<^_]L(7ZL"LF`S$.(\EQ[0Z+`T48"P3^["Y$4[SG#2&0%W^Q]:C M,Q^=J4`#@-BCHMY/[;%0]9,S+R,P)>;6=>@^AJS5$4[%XOK\U[S%F/"]SX@% MGIB@L1"/P,.V5>JA:FF>`-?'NE-ZZBZF%^%IR&G>'PUJQ<_V-]'?<7:>1'D^ MQH09<]?[]9@]Q-(D_=4>14^XZZ-B2QADPHHOX@PMBF:83MC@16T\`B3[_K0V1R2%TUE:>1]WAQWD;7"9YPNZO]A5UE0^G;%I:;W$&*Z M6JH@!9!G?BS]A+)'S"0?<8"D>;%!6:TZ@QG.E\9N@R\>XD!<I[:#.(Z(,E#R+-EY">=(I9 M'#W&24SO41)?7IW8;G!"E,KKNS2"C0U=ML;H<#8O#*+67:VF>XW(`'W('/,X MWBG@?NVV"9BOSCJ_S.I8I<:PLW-$U5L%C`CSSEV,$JFYF!67Z`$/KTI#YL9Z M7.T,&8[4YZ@L*>4>.06C]C^HD1+`6TYY\8 M,F\3FU%6!F-;&XL#UQMJ@$0X[6XN(&5.LV^KSH83")#@.IL#2EI&N`=8=/Z3 M$H6;[6G!"DM!U1A72.5PY-DV20\&%:M'W]%8!*#M1B5BHT^$V9.M-_`L(1B+8QL(+69QSIJ`G&D4)H\.LQ1C&YEY5[5[_1(5<% MC(>1&/.U4+"S9-C8:SZQ$UD%CLD`GR*1#W@S MB2%W``LVM-8AS.KB.HG!\4Y--4]+-4])`\.MIO9V-N'X!9G'L'@QG],-@#`\ MI3<+C8`79G==Y>FMG&'FR]GSL:E7LX4S6DE@?(_".8S-E#)^U M8BT?2WD\_@47`.A\+%-DI';E_LCZ`F]15SF!*U=0->TNI'+FW._0$TI+8;RA MZ'.CS_BS,T7:I5UMX@9`HSQ,"JJNF014SKR/L!TP5*>ARV'E4?F`,/*1/-7O#RIG0T%@">7V; MO810O?CE=;N.T>J.CB)]0H\(=BK>/]%9.M6ZMJ\]F MJ==G;$&AP>@Y5$Q-H`,@C3*"CYYJHL/HQAI/;7XC2/"5V1,)!"5R9310,1)D/M7U!`60+7P&&CHL7=X2"(O?(#)0 M6P-9,.GA!JJ,E%>M"E2K`=_AHE)(`QL<48''CP"6V-!E(GBM+1$8[M;B;897 M<3'#.=N?QA_:<,7>!Y_;7Z@`N,'[$HX1/_^C7F;[-OZ//[ MC*VIY@!#T*"@<(.U19K6`6C<(W(5\>"D7$SL,]:T%`4#2R75?*+HH;_C[R-+ M:;A^R_W^\;`^25426CY@YAZI5%,E%U=W"9>SWB-OP9&?ABH^[$3<0L:^62(\ MW",9D8K,=5,@W`1<"KB-N,*#FUSQB7`;"0]W,3)0408J&72"`8@%&`1_KU=[ MKCUQ#2\0YN(!4<'!X2\H7F](QSY](KUZC3Z7VT>4S5?,H+*)=^V,7_).I!59 MC8DGRO(983;-!$;BQ$+-$^!./C<0`)=T+=JI;E'&J"9628Q<.\(.P\,D83YC MUZJA=-SHI%+-WTWU_:[!^29*US00M;FHZ<%U.5BF*CC#^*J$# M(3V\("`A]1Y$&IKJX4@N.-SC2)'>%W@;Q6Q,&XQ8,0EKB;W'DI:V>FA2B;8< MP>;BSO]PV2$Q)V?^+KCK7XF4F:\6%>Y)U.%.9YRB:_(GNP82$[`+NQZ!:]_R MFI?N^+UMC(=GR$`W+MUVKCF#/KRK'I,G5ILAR?`&+,1:.EHS*M8U"C?7"7XJP=IKWFU4@>B"DG'(:@<4I?7F&AU M;C/\%).V/-M_R='R.NWR1YPNBOB)^WKS(?K=4,`AXEU;P.N>OO9E+]-&@N_Y MZQ>WB!,TN,'U@*=UM&,6T:5E/$81]C8YZS[-/=;HQ?SS=WS)L=L0BRWP;"O'J,FM#![WR"H7[\#.3E[1Z7H%! MJXR$G]6U(7FQZ`18Y'E0R:_(A%<4_#B$B(GF?XO3I?!,0430;;>."5XL&)76 M>!XH\JH1;LC^M#7^,ZPN;>P6'*>:X<[@VG/="U3_VU-4?H5>G_&0GA#,Z)-9 MZ#AS`$'UGJ3:)!(FL3FX3"[SBW(+V(7AJ"SSP<*+J2I'PQ+1L;1ZY)@>0L:CJ%$M'C$.>3SA M8U%I"5;")LLAOHST][:;;;8M%5A)]XN@Q3F(0/G6$"`$+$Q(\ M@@UL91?2L`I8OIP?S,K,>*9N8[VE4WBX3@AN&^/@!^.@AV!Q:VP;&[C5*3SP M%UQ!,4A:[0'R)[)B]5K@);P'*]#VNHJ`FQ!&!1`@]RA2`0[WR_?-'M[IXO'HSB\49$&ZQ_/P)CA!4++ MG%X2/,=)@A9UZ(@"DWIH"#6RBAVO"2PYW&R'<,,8S[*-9]?!(M;8 M-C9`JU/X,9Y["V>]#E\16EFO2XL+-VY"H&T7)&FZ7@<(D'L4J0!GYNHFX/E\ M59W+SW"Z?D#9]@(]LI8!T39&4-#ZYDDAK8OU+`!RGI)R:==5E!=\R$1_1M/F MK2!>#&^W]%;JX!$7[JUW0W;.3!7&'BAL)]K)!I+UJQ#N$'3;]=E!0A;>Y0L( M*;/DYY.&BDRX_E90*"W.X3)?L*/9ABB=;Z)LC7(:ULP`2$+174'C4`0*%[6V M-E#"+<5@3>WO6-LFD;HG&J(-3I;CYW.AY)RQE$\>*.0T[6![K.07:?DN@Y-M M<0@&0<2C+?&7A3\=&]@<(T4%OH!TDH`ETZB=L%,[/)+2C"1J7-G#\02Q@ M=XK&+2_X;)IPJQCO2QGO1P4+4F/;V$"L3N$34G*^@!UN^!ZJE1UN:7'AQK12 M54_3)?V'AN,\10GUE[=5ZD$VJI?Q(2:L38OHL7J/T`F6T,.F7D''B%AU#LU3 MTCNS;$\ZXL]1,KH&I\4C!>.()U`4RG6W`;]1">8+2H^>Y3D:^D8I9O]0^(,F MV+6"0)UEI6_IFN_+W2ZI3!$EK2FNTQ7.MG6;"S*-ZG&U24>A7,Z3^=#M4S)! M8[06?&52^'1?W?4DS=;!*M68S@,3WT^OTXFU?*?"0_=DUC7TW!.X#(.=![\> MH:*)\HF"A[B?=-FMD*H\WJ*`&%V^WDO50#Y[)V;S;!VE36JT*.$\]D-_HI$4 MU9E?=>7ZNDMF?1.ET7J4Z=N>SEW&WBCIVE`T][8J MDS,$3Y#I;!TSJ?X7<;Y(<%YFZ(%`[8Q4\S>;)I>(MV%]KGAG_LXN./'133_T MGU9JSTZJ[-3:?%G!&PF=>.3[T$'? M67[\455$;[,H"=O<^!)"=SO2,N.+'*`>4[L?#61RE_E:W9#84'[F]O?KE+VE[.[&6UL%49^74'2WVS@4SGKY#)/E>65>LE!?HG;G MJE=)]:QGDHS&*H8RG+D$63MC.R89N@9.@=0G&!;T`EQ$E>SED%3HM*"[K9(ZA MMU"6VMP5T2@MY.=EF>G$(%V4LY&7EBYZ,+@=664T[I'SL.6V!,Y$3=3=^^40.%RB'K!7B!8B$IEM@<&F<=6M% M:V"85L/^RI=9+Q.XLD(>T^_0$TZ>XG1-Y-%T$*3F<7'7]$IWHWJO,E?1@N:I MWXL&=P!I"UXIJ<-WV#H?HQ(ZM$=IU&0"#S!2S<>Q$A M^2]QL6&>+7&WM]=58]^OHG"C#T;>[?JIR!VF\>)73=VS#3@5YO#+`X#;&$^Q M!;O/)R^S3NVE4=8+\!A749Q55SUNR(*#:%=]=N8HNMHN#C!1ZO0T M7U(GY8K:B+?=CM+C=;>=!ZFG=4T3F\#;KL$K"<"$5G4!%'WJ]LG4P M7#_V8B=?NF2VIG?E,D M^1H=:L\\H!C12<6%O-_$#1%U[#;"#!05W)\6&U@8J@'GZ,>WJ3C""._45]X@ MJA-42/@16.*(3L<=W+^X3D'GE9@PE_9A?<9#-F$PH[_QEL;J`X,K=>0'WX_E MP2#.I_C!A80(^CI-G$$'C"95"\T#-\_(;#`KT5+:U_49VP->#<8@`CR,+:$? MWZ%35/`>@!OP#96",HV<*) M`=&S@&$XB+*0D%?J_3P8%ZB(XL1=YW_-Q?-,VXUM91XX[\?S/[:;@LQ'A\\! M5<].-I/X<[S=X;2R[K=X_!Z5FK1[#$A&ZIVR%W@;Q>/'CR#$"H5;8G>7CP:O MB]Z@[>,HPZN,I+N]P2-QMV4%:QH,THW9H)**KG:GN"+#/>'\"1$UHD2&$!E) M8T4^20`(`>BFBQ"^2!5NT]*G:'#M,9NBO+!0"NM" M!5*`Y;>:/##T8,:`-8=:F(EI$?6#>G+1+^`9@>'\4F).SD1-D%2U$BDS7RTJ MW$&OTY2L_E"5#U8T>Q\1L#/X'H$]#WV=QD5,GV2H[-[F=AU644K3/27"I7$/ MVK%9,4PC`6([>?5C(5PY+N`J.G8>3"+S3;QK'SC)3\MB@[/X'ZA+3RZ=KP-Y MN1-Y):^G.)EB`0A^-.4[RPE_C"5B=YY7!]I$5VII[0\MGF4 MIRP@U:Y`;P"<`9\&>!J^@`'$T]P6B!K9YL]G'@=(ITE%71TD0]BW\OVVL+&5X@M&3Q94M<>U%FLCA/T6C93A"03B_2_.'-XV"W MK=D5,?A]1".>99/1?+YJUSH)SDDWO2!68L\Q[$D\!.A.E^@IB.U;"X)C*Z6: M/]%H??XW7(#3J]F'30HP(YU!;@HHN`':GSWP1)]+>H@R\J<,2A14;?"WB,I3 M',"T@C2\4%+3TI]"=2F]H6S_KNRS4V+T>P70MS->N7$GB)(2T?8+%T&F:EE%2;UO-T]/U.D-K8H`O:=;L9'$V MN48K,_N2VU'2IF1/T7L\ZX'&7YNEMY@WV!7W\W#R=%70>$R&EEZPM7QLJ2[( MTH&FK"!/.\BSV?8Y#D%EE6F[C]4S`R^"I)4!OJK0:)X`RW<\GM%0=J]W8L7U MQZ%MK90]:)*FS)#O$\,2R;J^:>Q]'EG!*'P6Y7%.W66O@U4YQ'O@XRMBP-EH MIL5YC$DV*7S^E5E^7N'L/(GRO$)8WTVA MVV0Q9H^NIDDQ3YWK.)T&M)YG^UZ=2:4XZ39LB!K.J0Q%.7S6KU\9;I(.&_5)[,VO_HK(]'S%O3;/^]34:OC)@S3/'/MAJ0:BQ,T'072<&@KPZ`;FWZ+T M'Q$=+XNLK/+77:<+;B.J"1N#R`B];6"P=K#FEHD+=W/$BBO&(&_%G0,:%5P_ ML\DK,."NLA(NK<+>"1!00*@I3D8^,*= M36>%Z17JP_<[XNNKF*?EX9">P02$M$NI(",-"B,:6IMC15Z(>3:VXV"&:M1_ M'C/;%^!3(/@1PG%.?*3EAWMJ:O$:65OL?=\=/@!Y-Q7 M=%W'RX7Y=K3MR#IA+>6A=#"V4>RH^PI7J!LQM7%O(103."T5&9YX?1- MM."6ERDU?[\LU^-GCA;OUOCI_1+%]=!)_F!'3/+3KS.TCI++E!AESYD5"[ZV MX23LUV>J;&TYL-^UA?0Y/T= MCQ8^'(I>+W!Z6.+3^X_9#F=1@:[351;5EQ#*#%V5Z?(*EUF!4#J[Y;:J!4GM M,=H42=YAQIY=Y!";5(Y'<]Y*CT7<)GJ3H4U,U4<2C\I/E"CU`2"`)R/<]T]% M`S.6#H%#,S$RJC7?@/>/-864SW7,IXLCN2Y\RI$W%6>"^S1P!M66XLR#.S1- M'KCZ^.,TSU&1\RZ8J,@:5<5D_BUWQ\V%P7H"E[BS_GFS6+2Y3WI"V2-V'_S0 M5RV?T4U7=!8E-%CW?H-042M[MK^)_M[D/SE=+.I4A6AY@8C*"]Y=%LM2.1"= M)#5`1-NSXM0.,*DF@=^7&=A!;H%Q*+@9,P_[`.80(:YKD\E(!A1H/B>?[.`% M"Z__QG%:_$ST(JO$+DN5,"P62-U85$D="*STM#;!D;($WQZ='0#_=$&4RN,Z M#V5>Y/.,OB8A>!;4@)/GM%2<@4#+W!J3W96J--^>IZ71P?-557<&4IPOC9$& M7P*!A%@;DR8?2#-_M=7UXKR>]L6\U0'O4V.PX:=`VE^BCPD`AN(L/W;J^:Z7 M]@[-$==@UJERZZ[CD>B;1 MOFO*CT66TG2'[5P:/U;F5R6=EC,'ZE0RW26,FN9+NBZCC/A`,H>_0WF\+*/DYR@I M:1+J>L.Y]90RV!ZG)![*;9<42*I+ ML/:7$W6[M'PBAVG8TKO&XK1NC$Z"KUVV%^:KLSZKL#U6:3+LDGQI=0X71LHQ MGBMZ9F!?5YGX15?+)10]2(\HW#T($J5KWK7PT>_MTQ^'W]W6F1L$SOG2KS<_ MV/L9:]YL1/'OWA]_`DOU@'!.A;('0E%A3NZ/X1@<)\52>8 M/ZQO'8=;].IT%2WBA%Z[$T1=`$C;X`LIJ;T`3EXYS0'*&6,"316K!)IBUB"A M";3$=&B*"_(HRP&OXI]+NEJ,A^AHA'MK$QY@D2FBK=I\.04X*EVX-.-O8> MLBC-H^IIE_R7N-C[W:[/LU%>SN0I>\=B/,L3?H\691;3.;*P:44DO:8= MDWC4+"S>AB,&9BP%`# MFQ6."ZDB0SG"PPUAFS:#PQ-F-:(D1AKU8)M#57ZXR\;[\C%'OY?$7I=/J'YD MB#/#5%"U$VX1E4_:<:>02CJQAL[?G&'JQ!W,I#1\W9P/:>HVP3#%&'\@$ELE MU.*+"]@+*SKNV(3`U\P$@CE&?&GOEAD.9S`7:FGL$A86;EX:@05F@KLG4'+Y M3DB/W.+2`U5OMU]^VZ$T1_EM%"_GV>EBD95H*3COT&%IER<@%H?-&6\?:4PY M/::Z0P2E);L'*"/IFHU'XLQ):#43!FDX=`B0`NJY*T^P1SLK7U)2E:]T=R!= M4Z68IA=];HPR_AQ,DRLT,VONL5!G1PB"]NXEV^8TM^!K8Y/1UV`:6ZZ765N/ M9(:;;ZMZ).(F2J-UY:=XN>-D)"T\N"3A8$2MH2%0N()]>TCA=+F-4WH&3[1[ M0HU2@^$KKW5@E[3ZC"U>-!C#09&I-0RQI5&<>?BI)X]ZM=&VC9KL`1#_:WOV MPWX-!E%RO),"&VT!@`ZCNL)Z)E<4$NYIQT6)'O`P\O6\S&CS$*T_XW11_P_3 MU36YVFLP4*X@X&=F`WT$@LL)=R?S,RYHU]I7M\]TL6C&W"5GU&,.`IF3+*(/ M4-WBPEV>MT^A79$FN<[SDE[6G:_H?1QJDFW<:$YC5K^D\6CI;LI^>"Q:DST( MM$ZTBCY>]0NT?!7%6\H>SS(.^]I0Z8MT?4O"&F[[):2.AM;NVI=I[NRR.OGDO^' M.&=2[6I/[3I=X6Q;-3KO?H0Q/VL6./]K^N;7],VOZ9O#W?MX3=_\FK[YCY&^ MV7QP!"=WUB[BQ:1^[C0_VY]%"5U-WF\0*G[*<+F+T_5AFD67+G4.A9PS>$\5 MP\YCM,6X-R"WT<&:7<\U2X"#R.6W<\FDD,8-YM9X-@75F!'MWU[%=LGLH?EP;1M@&V$;*JS@EZ],X2@XI]//NM]I(O"6L,/S$DKC6'TX6YS:4F4`%Q4]T M0L'9N>&%+X,8^B'+"@9W/=T6$+"!99B>/[$J76BSH@KA[M[+!QZYE_5H<+$* M.8V1Q0J^K`TKGEP-K>ZFS>+HD;X8$*-<[0`U.)IV`'&\"#SJV\8^1D%U"#<< M>_HJQ^[ M@Y@Z'W1R#>+PM!2]]'R.4YH_"1&?X?X]'%G5A$^;M]%1)KQM;)0>K\/T.PZQQL;8)AHY#J]3Z2INJ M-(\V*&]K72O/1V^!;:/L-T0U/%UGJ#JO8N`$9^@NLZH9PH.4MADF@@I2GJ78 M$B?C$9.UU?D@Q-9',-ZHR/CYI7W8OF33Y/(>(I*0")*"&U^7$[FGZM8IGJ$H M1\VBAD`^R^AM`HH@3LB1#DOKHD`L%M^"1WF.LWFF*I<;0&3&W#Z+J?R MD0R*$759]SM$UZ95W@B\W47I?I;S'P_28VIU!#*Y>_O3K`6QH3V&(X]>X=4# MHT7(9>&(7'#8'I.BJ$32+#+S1-\[48)YNLSU;DNDCOJ\3ZUET0& MG^R^@$;!0!-+T_>?XA5]_DGVSAV`NO M+9#9NC:O@$%A("(7X&!,[CT0%!KJ(6$LS*-W\VAE+Q=QFS)J=BM$@(2JU_!< M*B_;6ZV/NIFY,L(]>A*-H%@Z5K%S\8&,ZJ;>@/?ESN+D$Q#8A&TD(^#+5=U\ MDW.'BO=M&#_7?G-??_Z=)_Y75@?G]Y8..0)IC`[?NTM(6M?.)7$=I3(R/@8I MPXTR:655KITK(US'Q>]M6`5B@9VZBT`L<[@&4GEVF;N"^75&0KA99%\?&'U] M8/3U@='7!T9?'QB=-J08O1\J&%Q4SX/:"JASYZ1F@CN<*C*^JYIYF'^E>PF;>'>+L@5M^#5[@*W-U^XHP_E\Z3/CUL3F^DM[TJP? M?*Q1@KE[FGSA0;"?][FD(]!\=;Y!VW@1)0]1^AO*?D9YCI+\MLP6FR@?O7VD MQ]3>H0$R>8TF(\WA4(**]VA#6'A4^("R[>C$#4#;G;]):;U&B8Z><'`HI#K+ MT"`*6VK@>IO%=&>$>LD=+Y920=:&)PG)O$8"4#LX",0"7_^WPR37PEL.3PV>29:`0TJW&/,'/8_C:`3U)RJ3FI(? M"T0?9&K?GCQ#44:CN%"2H.S^G%0]!B+00*`K:/-G2(^# MZ'8:.*@FNY25$S&3;I;(:S2!--.?5+/BS!\/=;W9P21J^(RXKP1R"?AI-2H" MOS&ATD@##QQ1#1;^PQGA)M\$!(VU-9*:G7[:^A)1P)*XSM/>%@83:ZJF^P:/#L8(;_F?X/ MJ#^E,Y5EQ\G=Q1-?1['CJUO'\MC*7;_=0.1*PH0$=`#IQ_WUW05)B10IOI2+ MJ2N_>"AB=XG='QZ[BX??__/)]]@#:".4/#LX/CPZ8"`=Y0HY/SL(S8`;1XB# M?_[XU[^\_]M@\!-(T#P`ETV?V84PCJ=,J('=*R\,4()AMW?CRZOKC^SX\.3P MZ/"(G:OELQ;S1<".W[U[RP;L]='Q"9LLE&^49'<0!OAM-G(<\$)SR$:>QRRY M81H,Z`=P#P<#^OJ3.37.`GS.`J[G$-QP'\R2.W!VL`B"Y>EP*!PEA7P`$_@@ M`W/H*'](7SLZ.3E&K3R@UY=*^QWQ\ M/'P\.51ZCD*.CH?__71];[^?T.+G1,UO1PQHS>!Y">M/S+B9V@\D)<3R>G!T M/%@S>4)^R=3I::J]I%8G0RJ><@,K!7+TL0YH_7=#6[HB14&B1+20)N#2@32] M&ZP8TL1OAU'ARC36$EE2`\[A7#T,H[("367H%]?&#?20S#-$"M#"63$H68-' MR<$&GPNBN&I8D*X7MCK&J-UQ*57`J7W;5_'+Y5+(F8K?X#NR[6F"QQW,F+7V M*=7B[,`(?^F1*>V[A8;9V0$UH$'22'Y=:CC$^B4D6GE0`@X5#Y?41614L^OU MAQ,17#LY*;G6@$+4$G0@L/6M&]/PJZGE<*^I6LCBA%ZGM7)AUE0K9!%2=%DI MCT^;*H4LX/VQ^I"<"6K`Z.'SW57ID&LK=:&S3-W"\``O-9\M`5 M`^ MS_7S>'8OYE+,^)0"6\*N@J8"LY,\9BB0K272-&5ELK70 M'JL"K*X!8WF79O2EC;.#2PE2#&`T:B>CRJ^\ZED!0C M61,6=IP,004V;^OTFEA@A%H/41%$2FK`F4`;N%9R'@"M4TSC3K.ML`*:[PJ@ M47)P%XMB)&LP06&,I/6P%,!R!P_*>\#)&3\)Z$-K0,Y9:"E6]705.!U0]YK-(" MV2-*9+%(%LOLH2J`ZI(+_3/W0OB$TP$:TA9'"!4750#S+@\,R6%6$$M+ZN$H M3"_XOHA>CJ2+(3X%(R#7(5$903DTQT=Y:%+2[)I)1EX/4&'X.C7P6X@O/SZL MNTKN;044!8F#M0@6R>C-WSI[T":+4"^;\/UNV03V*GGJTW'-$PL3^F/JI!=B MRE(H?VB79&"O(N$]@+6S#6G>A!:IF"*.EB!605@#5/1_2XM0^K MTM#5HJQ`KTV(U>/7.-9*PU9&4(%6_;BKQZCN@N`%!%QX)K\NF!248O*N:GF0 MO8KE]$BT=_4SCJ4!O1T>_Q[:UGY_!M!YI!98M/?T>PZ:N?@:Z4HH*Q!HY M^SU.[;S]LHY61%>!61M_OX>N^4)D%K9RF@K(FBU+]G"U7Z#,@%:+L@*Z5LN5 M/8([1-@9".N15F#8+L;N(6P:9&>0*Z6H`*Q)F-W#U&ZA,P-6#;IRR!HO>_;` M-5H`W0C`BPLK(*JS'/I_`[HU/ZU(%)W@S6H@Z?C)N<#RVM3MFA[M+J;/+0P\X5*#CP M7J<.*;;X>>>:V(21?FYL#3\ZB<5U63/9I MYSI(+AQ["<1QDTJLN:+'P5I`NVH8X32N1,)##VTJL'G`_%TT\$N8UAFN`CZ!Q'8(VW\\:-5CJYD@D3/;I:V"1O@NDC@TL"_T: M)'QDB1.RQ`ZU>#/4=,%`S0I8:OKLF\'1#X/CHV8`Y.XUJ?G5A($^_+:=IL4W ME]3Y?IKS)F+]4V%EM1FI\R-#?,L%5M4)!O"T]+CD M@=+/E_B[_FB1EO)Q+:3$9O%51K:.Y9=9C*8FT+8VY"C3=1^_UB./[@RQ5P2= MXCN,4ZX"\,EI1,702T9&>^'33UJ%RX10(,D!D\+S:"7C["#0(9+S6&CR.Z)= M8KM0[L1^Q@UU?!9RFXXCUT?GEN0$X@'02B#IOA'A3RF_9(.%3VBW.>B4IDV8 MTOKZ"L=NKI^_@L8S[ID*E:.R:71K`1;`5`3;#?$+T.58X(X>0&/-L9M/08]G MU\*/[U$()&BS$,LK&0`&(8$9AP&-P72A5\HV.\K)-(\%1X)O8ZQM9KF!X%H9 MP6=C5X%"]"T4FXN0IBH]7IL?J+^.N+^/-:+&H4[4=%@?*.DP\TB MM4;3Q'8UA'7&9B:`6=6=4KVHT/X,Q MX)EH,$2-)@NLSWR!<-ZE%N(GF5/#U@Q-&;^U1:(40="T+6Q1ZSZ<*HVN&*5_ M4,7$1_L`G/K$/7@>NF7GL:VK;-1(V)[8[3]<_L[I%A_\D.W^Z$[D/,(RHJZY MA$GHDH$C/0YL(T@#)A!:G$1>UE>_H%A53.TW,4Q=S7"WB&P.HCK$78/JBM:G MN'?.EP(CCLP%2%:G+>4OUK.VZ5$2)8_"8*&T^!U6\W!*OX9\>S,W?>)/P@_] MI.;C69&&*3O4I/]3Z?]9BL8VB'F^;;*ELO6//"_.:6*EM9IA'2EE@IXF^I7I M88G<]FN!7J=KJ9'6`7#31MA=5";?XM`>TA<=PI.*76KE4R*B-*,V,N-9,N1Y MRF`KN$!/(Q,-?P5I>^*79,=^VANSGMV"4$MPMTX4Q<1[HO>6S&N!_Y*CZ)P# M\TE(&M.JIOERLJ[@5C7HVSRCW=-EZ']GF(F:+(3.7C>S3DB6$'9FFJMHJ4TS M#3LD*?;'*+?1K,/GM*$Z].W.K0<8H<=-.4P:B\9R-)]KNR'AL]3Q\%0P5VK$I_2,_TC%[?N!&&-)RO>,PVK,:W]-;O`KUK0W$`PGHU\A3-TSGMIP]P5GZ9JX9$[@!4/Z;+P:\7E)^YFUA\+B_=$MZ0K MWV&;M?>6N^LNGXDLRLB^:=>N#,2I):9N'P+M;S33S<(T5$DO>5$-_@52S&:Y MP2;[NFNCQ_;+A";P%'Q`Q^-+.N=7ASJC8I"\?^%@CA8Y(%X9R4%46-HUI.RD MY8@D8MXVK151=$V5?RN,\'_&WSC)KMR3PA&LDK);@U@@["HL&NHT8!.YJ8]'U1=,;.AB)=?XZZD[)IJ MZ5/[Z(H+S^[=MM''!Z6U>D1-<%S$DDSNK1E;5\;*JNQKD5;KA?XEI]#TAO(Y MP@?RY4?N`PDV%8:I)^(;)]XK1V':W43;^>-D*J6IQGKD./@!=^M0U82IBT,5 M]=_$#=C2O?/%7>O3V>UHA4KDB[NF1%E+*D@]UB/O6,YQ*$ MO>5D/+L#G^LO0+UL--<`FPG\&L3[XMQ0.N)YHFS8L-J3.M*:_E6F32(]B9?U0^S1BEQ[I*C0L[TV52:\T8NS9O;D8@R;I)C6`E M3]HUY6Y#[2P0$'2?'8B6RY:;778K253B*^B^=5:G9HH;IT01 M$=)&LJBS;2I53)-1B-8(7W2S;CC5=M56SN^7XR[[TN?*77#Y?FWQ?J\O0 MM1Z7Q*[G"_#I_YM/N/P".D[1)WTM[?_497C1?6;V+J+H*#W^^A]02P$"'@,4 M````"`!*,*]"--!WY%UC``"4B`0`$0`8```````!````I($`````:6-O:2TR M,#$S,#,S,2YX;6Q55`4``RQ=DU%U>`L``00E#@``!#D!``!02P$"'@,4```` M"`!*,*]"_'D\?WD+```JDP``%0`8```````!````I(&H8P``:6-O:2TR,#$S M,#,S,5]C86PN>&UL550%``,L79-1=7@+``$$)0X```0Y`0``4$L!`AX#%``` M``@`2C"O0D$3-0_.&0``774!`!4`&````````0```*2!<&\``&EC;VDM,C`Q M,S`S,S%?9&5F+GAM;%54!0`#+%V3475X"P`!!"4.```$.0$``%!+`0(>`Q0` M```(`$HPKT+\F-5'FE\``#9A!0`5`!@```````$```"D@8V)``!I8V]I+3(P M,3,P,S,Q7VQA8BYX;6Q55`4``RQ=DU%U>`L``00E#@``!#D!``!02P$"'@,4 M````"`!*,*]"(I1\620O```;\`(`%0`8```````!````I(%VZ0``:6-O:2TR M,#$S,#,S,5]P&UL550%``,L79-1=7@+``$$)0X```0Y`0``4$L!`AX# M%`````@`2C"O0OMA^T2.#0``KX@``!$`&````````0```*2!Z1@!`&EC;VDM M,C`Q,S`S,S$N>'-D550%``,L79-1=7@+``$$)0X```0Y`0``4$L%!@`````& -``8`&@(``,(F`0`````` ` end XML 36 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6

Consolidated Statement of Operations (unaudited) (USD $)
3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Revenue:

Finance income $ 2,034,976 $ 705,195

Rental income 4,264,395 0

Other income 13,262 3,769

Total revenue 6,312,633 708,964

Expenses:

Management fees 209,491 26,817

Administrative expense reimbursements 969,695 419,085

General and administrative 304,465 232,801

Interest 1,028,124 188,093

Depreciation 2,554,177 0

Total expenses 5,065,952 866,796

Net income (loss) 1,246,681 (157,832)

Less: net income (loss) attributable to noncontrolling interests 236,391 (143,063)

Net income (loss) attributable to Fund Fifteen 1,010,290 (14,769)

Net income (loss) attributable to Fund Fifteen allocable to:

Limited partners 1,000,187 (14,621)

General Partner 10,103 (148)

Net income (loss) attributable to Fund Fifteen $ 1,010,290 $ (14,769)

Weighted average number of limited partnership interests outstanding (in shares) 162,992 52,155

Net income (loss) attributable to Fund Fifteen per weighted average limited partnership interest outstanding (in dollars per share) $ 6.14 $ (0.28)

X

- Definition

Administrative expense reimbursements paid to fund manager.

+ References

No definition available.

+ Details

Name: icoi_AdministrativeExpenseReimbursementsManager

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of net income or loss for the period per each limited partnership interest.

+ References

No definition available.

+ Details

Name: icoi_NetLossPerWeightedAverageLimitedPartnershipInterestOutstanding

Namespace Prefix: icoi_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The average number of limited partnership interests issued and outstanding that are used in calculating basic earnings per limited partnership unit.

+ References

No definition available.

+ Details

Name: icoi_WeightedAverageNumberOfLimitedPartnershipInterestsOutstanding

Namespace Prefix: icoi_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

The aggregate costs related to asset management during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2(d))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_AssetManagementCosts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_DepreciationDepletionAndAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.4)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_GeneralAndAdministrativeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The portion of profit or loss for the period which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_IncomeLossAttributableToParent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 9

-Article 9

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Section 563c.102

-Paragraph 9

-Chapter V

-Subsection II

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 34

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.9)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

+ Details

Name: us-gaap_InterestExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Interest generated from day to day operating activities of the business. This element represents a revenue generating activity and is therefore gross (before any related cost of revenue items).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1(e))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_InterestIncomeOperating

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_NetIncomeLossAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Aggregate amount of net income allocated to general partners.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187171-122770

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section F

+ Details

Name: us-gaap_NetIncomeLossAllocatedToGeneralPartners

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Aggregate amount of net income allocated to limited partners.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187171-122770

+ Details

Name: us-gaap_NetIncomeLossAllocatedToLimitedPartners

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_NetIncomeLossAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.

+ References

No definition available.

+ Details

Name: us-gaap_OperatingExpenses

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_OperatingExpensesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 19

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 25

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7501430&loc=d3e39896-112707

+ Details

Name: us-gaap_OperatingLeasesIncomeStatementLeaseRevenue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.4)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 4

-Article 7

+ Details

Name: us-gaap_OtherIncome

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 5

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-Subparagraph (a),(c)

-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 1

-Article 5

+ Details

Name: us-gaap_Revenues

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_RevenuesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 37 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6

Non-Recourse Long-Term Debt
3 Months Ended

Mar. 31, 2013

Non-Recourse Long-Term Debt [Abstract]

Non-Recourse Long-Term Debt
(6)      Non-Recourse Long-Term Debt

As of March 31, 2013 and December 31, 2012, the Partnership had $67,520,833 and $69,250,000 of non-recourse long-term debt, respectively, with maturity dates ranging from June 4, 2019 to December 31, 2020 and interest rates ranging from 4.6% to 4.997% per year.

At March 31, 2013, the Partnership was in compliance with all covenants related to non-recourse long-term debt.

X

- Details

Name: us-gaap_DebtDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for long-term debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

+ Details

Name: us-gaap_LongTermDebtTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 38 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6

Net Investment in Finance Lease
3 Months Ended

Mar. 31, 2013

Net Investment in Finance Lease [Abstract]

Net Investment in Finance Leases
(5)      Net Investment in Finance Leases

Net investment in finance leases consisted of the following:

March 31,

December 31,

2013

2012

Minimum rents receivable
$ 36,889,425 $ 38,214,311
Estimated residual values
328,192 328,192
Initial direct costs
561,450 589,698
Unearned income
(13,255,153 ) (14,005,501 )
        Net investment in finance leases
$ 24,523,914 $ 25,126,700

X

- Definition

The entire disclosure for lessor's leasing arrangements, which includes direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 23

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952072&loc=d3e45377-112738

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 10

-Section 55

-Paragraph 47

-URI http://asc.fasb.org/extlink&oid=6584217&loc=d3e38847-112698

+ Details

Name: us-gaap_CapitalLeasesInFinancialStatementsOfLessorDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_LeasesCapitalAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 39 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6

Fair Value Measurements (Tables)
3 Months Ended

Mar. 31, 2013

Fair Value Measurements [Abstract]

Fair Value Information on Leased Assets and Liabilities
The estimated fair value of the Partnership's fixed-rate notes receivable, fixed-rate non-recourse long-term debt and seller's credit was based on the discounted value of future cash flows related to the loans based on recent transactions of this type. Principal outstanding on fixed-rate notes receivable was discounted at rates ranging between 12.25% and 17.0% per year. Principal outstanding on fixed-rate non-recourse long-term debt and the seller's credit was discounted at a rate of 4.60% per year.

March 31, 2013

Carrying

Fair Value

Amount

(Level 3)

Principal outstanding on fixed-rate notes receivable

$
47,556,251

$
47,936,951

Principal outstanding on fixed-rate non-recourse long-term debt

$
67,520,833

$
68,882,732

Seller's credit

$
5,752,441

$
5,752,441

X

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

-Subparagraph b-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

+ Details

Name: us-gaap_FairValueByBalanceSheetGroupingTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_FairValueDisclosuresAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 40 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6

Net Investment in Notes Receivable (Tables)
3 Months Ended

Mar. 31, 2013

Net Investment in Notes Receivable [Abstract]

Net Investments in Notes Receivable
Net investment in notes receivable consisted of the following:

March 31,

December 31,

2013

2012

Principal outstanding

$
49,516,251

$
42,538,932

Initial direct costs

3,710,533

3,282,650

Deferred fees

(781,904
)

(724,626
)
Credit loss reserve

(1,960,000
)

(1,960,000
)
        Net investment in notes receivable

$
50,484,880

$
43,136,956

X

- Details

Name: us-gaap_ReceivablesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3,4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3, 4

-Article 5

+ Details

Name: us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 41 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6

Fair Value Measurements
3 Months Ended

Mar. 31, 2013

Fair Value Measurements [Abstract]

Fair Value Measurements
(9)      Fair Value Measurements

Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories:

·
Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
·
Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
·
Level 3: Pricing inputs that are generally unobservable and cannot be corroborated by market data.

Assets and Liabilities for which Fair Value is Disclosed

Certain of the Partnership's financial assets and liabilities, which include fixed rate notes receivable, fixed rate non-recourse long-term debt and seller's credit, in which fair value is required to be disclosed, were valued using inputs that are generally unobservable and cannot be corroborated by market data and are therefore classified within Level 3. As permitted by the accounting pronouncements, the Partnership uses projected cash flows for fair value measurements of these financial assets and liabilities. Fair value information with respect to certain of the Partnership's other assets and liabilities is not separately provided since (i) the current accounting pronouncements do not require fair value disclosures of lease arrangements and (ii) the carrying value of financial assets, other than lease-related investments, and the recorded value of recourse debt approximate fair value due to their short-term maturities and variable interest rates.

The estimated fair value of the Partnership's fixed-rate notes receivable, fixed-rate non-recourse long-term debt and seller's credit was based on the discounted value of future cash flows related to the loans based on recent transactions of this type. Principal outstanding on fixed-rate notes receivable was discounted at rates ranging between 12.25% and 17.0% per year. Principal outstanding on fixed-rate non-recourse long-term debt and the seller's credit was discounted at a rate of 4.60% per year.

March 31, 2013

Carrying

Fair Value

Amount

(Level 3)

Principal outstanding on fixed-rate notes receivable

$
47,556,251

$
47,936,951

Principal outstanding on fixed-rate non-recourse long-term debt

$
67,520,833

$
68,882,732

Seller's credit

$
5,752,441

$
5,752,441

X

- Details

Name: us-gaap_FairValueDisclosuresAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15C, 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44A, 44B

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15A

-Subparagraph a-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 3, 10, 14, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 17-22, 27, 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 21

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15B

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32, 33, 34

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

+ Details

Name: us-gaap_FairValueDisclosuresTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 42 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6

Revolving Line of Credit, Recourse
3 Months Ended

Mar. 31, 2013

Revolving Line of Credit, Recourse [Abstract]

Revolving Line of Credit, Recourse
(7)      Revolving Line of Credit, Recourse

On May 10, 2011, the Partnership entered into an agreement with California Bank & Trust ("CB&T") for a revolving line of credit of up to $5,000,000 (the "Facility"), which is secured by all of the Partnership's assets not subject to a first priority lien. Amounts available under the Facility are subject to a borrowing base that is determined, subject to certain limitations, based on the present value of the future receivables under certain loans and lease agreements in which the Partnership has a beneficial interest.

The Facility has been extended through March 31, 2015 and increased to $10,000,000. The interest rate for general advances under the Facility is CB&T's prime rate. The Partnership may elect to designate up to five advances on the outstanding principal balance of the Facility to bear interest at the London Interbank Offered Rate ("LIBOR") plus 2.5% per year. In all instances, borrowings under the Facility are subject to an interest rate floor of 4.0% per year. In addition, the Partnership is obligated to pay an annualized 0.5% fee on unused commitments under the Facility. At March 31, 2013, there were no obligations outstanding under the Facility and the Partnership had $10,000,000 available under the Facility pursuant to the borrowing base.

At March 31, 2013, the Partnership was in compliance with all covenants related to the Facility.

X

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19,20,22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20, 22

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_DebtDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_LineOfCreditFacilityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 43 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6

Transactions with Related Parties
3 Months Ended

Mar. 31, 2013

Transactions with Related Parties [Abstract]

Transactions with Related Parties
(8)      Transactions with Related Parties

The Partnership paid distributions to the General Partner of $30,789 and $8,095 for the three months ended March 31, 2013 and 2012, respectively. Additionally, the General Partner's interest in the net income (loss) attributable to the Partnership was $10,103 and $(148) for the three months ended March 31, 2013 and 2012, respectively.

Fees and other expenses paid or accrued by the Partnership to the General Partner or its affiliates were as follows:

Three Months Ended March 31,

Entity
Capacity
Description

2013

2012

Organizational and offering

ICON Capital, LLC
Investment Manager
expense reimbursements (1)

$
142,024

$
202,200

ICON Securities, LLC
Dealer-Manager
Dealer-manager fees (2)

642,252

1,102,522

ICON Capital, LLC
Investment Manager
Acquisition fees (3)

1,290,123

658,377

ICON Capital, LLC
Investment Manager
Management fees (4)

209,491

26,817

Administrative expense

ICON Capital, LLC
Investment Manager
reimbursements (4)

969,695

419,085

Fund Fourteen
Noncontrolling Interest
Interest expense (4)

95,279

119,000

$
3,348,864

$
2,528,001

(1)  Amount capitalized and amortized to partners' equity.
(2)  Amount charged directly to partners' equity.
(3)  Amount capitalized and amortized to operations.
(4)  Amount charged directly to operations.

At March 31, 2013, the Partnership had a net payable of $3,067,224 due to the General Partner and its affiliates that primarily consisted of a payable of approximately $2,497,000 due to Fund Fourteen related to its noncontrolling interest in the Lewek Ambassador, an acquisition fee payable to the Partnerhip's Investment Manager and administrative expense reimbursements. At December 31, 2012, the Partnership had a net payable of $3,041,918 due to the General Partner and its affiliates that primarily consisted of a payable of approximately $2,442,000 due to Fund Fourteen related to its noncontrolling interest in the Lewek Ambassador and administrative expense reimbursements.

From April 1, 2013 through May 9, 2013, the Partnership raised an additional $11,144,933 in capital contributions and paid or accrued dealer-manager fees to ICON Securities in the amount of $309,677.

X

- Details

Name: us-gaap_RelatedPartyTransactionsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 1-4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph b

-Article 3A

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph k

-Article 4

+ Details

Name: us-gaap_RelatedPartyTransactionsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 44 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6

Commitments and Contingencies
3 Months Ended

Mar. 31, 2013

Commitments and Contingencies [Abstract]

Commitments and Contingencies
(10)   Commitments and Contingencies

At the time the Partnership acquires or divests of its interest in Capital Assets, the Partnership may, under very limited circumstances, agree to indemnify the seller or buyer for specific contingent liabilities.  The General Partner believes that any liability of the Partnership that may arise as a result of any such indemnification obligations will not have a material adverse effect on the consolidated financial condition or results of operations of the Partnership taken as a whole.

In connection with certain investments, the Partnership is required to maintain restricted cash balances with certain banks. Restricted cash of approximately $625,000 and $500,000 is presented within other assets in the Partnership's consolidated balance sheets at March 31, 2013 and December 31, 2012, respectively.

The Partnership has entered into a remarketing agreement with a third party. Residual proceeds received in excess of specific amounts will be shared with this third party in accordance with the terms of the remarketing agreement. The present value of the obligation related to this agreement at March 31, 2013 and December 31, 2012 was approximately $112,000 and $108,000, respectively.

X

- Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 45 R34.htm IDEA: XBRL DOCUMENT v2.4.0.6

Subsequent Events (Details) (USD $)
3 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Apr. 02, 2013

Subsequent Event [Member]

Credit

Vessel

Apr. 02, 2013

ICON Leasing Fund Fifteen, LLC [Member]

Subsequent Event [Member]

Apr. 02, 2013

ICON Leasing Fund Fourteen, LLC [Member]

Subsequent Event [Member]

Apr. 05, 2013

Lubricating Specialties Company ("LSC"). [Member]

Issuance of Debt [Member]

Subsequent Event [Member]

Subsequent Event [Line Items]

Ownership percentage in equipment purchased (in hundredths) 55.00% 45.00%

Number of chemical tanker vessels purchased 2

Lease financing arrangement term 5 years

Purchase price of equipment $ 8,850,000

Vessels financing through non-recourse long-term debt 22,750,000

Vessels financing through subordinated, non-interest-bearing seller's credit 5,500,000

Number of seller's credits 2

Term loan issued $ 50,484,880 $ 43,136,956 $ 13,500,000

Interest rate on loan issued (in hundredths) 13.50%

Lease expiration date Aug. 01, 2018

X

- Definition

Interest rate stated in the contractual note or loan agreement.

+ References

No definition available.

+ Details

Name: icoi_InterestRateStatedPercentage

Namespace Prefix: icoi_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

Date on which lease would expire of the leased equipment.

+ References

No definition available.

+ Details

Name: icoi_LeaseExpirationDateLessor

Namespace Prefix: icoi_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: instant

X

- Definition

Period of lease term for financing arrangement.

+ References

No definition available.

+ Details

Name: icoi_LeaseFinancingArrangementTerm

Namespace Prefix: icoi_

Data Type: xbrli:durationItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of chemical tanker vessels purchased.

+ References

No definition available.

+ Details

Name: icoi_NumberOfChemicalTankerVesselsPurchased

Namespace Prefix: icoi_

Data Type: xbrli:integerItemType

Balance Type: na

Period Type: duration

X

- Definition

Represents the number of subordinated, non-interest-bearing seller's credits the entity financed a portion of two chemical tanker vessels.

+ References

No definition available.

+ Details

Name: icoi_NumberOfSellerSCredits

Namespace Prefix: icoi_

Data Type: xbrli:integerItemType

Balance Type: na

Period Type: duration

X

- Definition

Equipment purchased through joint venture.

+ References

No definition available.

+ Details

Name: icoi_PurchasePriceOfEquipment

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Purchased equipment financing through non-recourse long-term debt.

+ References

No definition available.

+ Details

Name: icoi_VesselsFinancingThroughNonRecourseLongTermDebt

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Purchased equipment financing through subordinated, non-interest-bearing seller's credit.

+ References

No definition available.

+ Details

Name: icoi_VesselsFinancingThroughSubordinatedNonInterestBearingSellerSCredit

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-Subparagraph (a)(1)

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-Subparagraph a (1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_EquityMethodInvestmentOwnershipPercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3

-Article 5

+ Details

Name: us-gaap_NotesReceivableNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_SubsequentEventLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 46 R21.htm IDEA: XBRL DOCUMENT v2.4.0.6

Net Investment in Finance Lease (Tables)
3 Months Ended

Mar. 31, 2013

Net Investment in Finance Lease [Abstract]

Net Investment in Finance Leases
Net investment in finance leases consisted of the following:

March 31,

December 31,

2013

2012

Minimum rents receivable
$ 36,889,425 $ 38,214,311
Estimated residual values
328,192 328,192
Initial direct costs
561,450 589,698
Unearned income
(13,255,153 ) (14,005,501 )
        Net investment in finance leases
$ 24,523,914 $ 25,126,700

X

- Definition

Tabular disclosure of the components of net investment in finance leases.

+ References

No definition available.

+ Details

Name: icoi_NetInvestmentInFinanceLeasesTableTextBlock

Namespace Prefix: icoi_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_LeasesCapitalAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 47 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6

Net Investment in Notes Receivable (Details) (USD $)
3 Months Ended 3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Dec. 31, 2012

Mar. 31, 2013

Heniff [Member]

Mar. 31, 2013

Kanza Construction, Inc. [Member]

Mar. 09, 2012

Kanza Construction, Inc. [Member]

Schedule of Notes Receivable [Abstract]

Principal outstanding $ 49,516,251 $ 42,538,932

Initial direct costs 3,710,533 3,282,650

Deferred fees (781,904) (724,626)

Credit loss reserve (1,960,000) (1,960,000)

Net investment in notes receivable 50,484,880 43,136,956 487,000

Face amount of loan made by the Partnership 7,200,000 5,000,000

Interest rate (in hundredths) 12.25% 13.00%

Term of note receivable 42 months 60 months

Proceeds from note receivable $ 222,681 $ 60,417 $ 28,000

X

- Definition

Amount of the contractual principal loan made by the Partnership at the origination of the loan (face amount).

+ References

No definition available.

+ Details

Name: icoi_FaceAmountOfLoanMade

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Interest rate stated in the contractual note or loan agreement.

+ References

No definition available.

+ Details

Name: icoi_InterestRateStatedPercentage

Namespace Prefix: icoi_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

The period of time when the note receivable is required to be fully repaid.

+ References

No definition available.

+ Details

Name: icoi_NoteReceivableTerm

Namespace Prefix: icoi_

Data Type: xbrli:durationItemType

Balance Type: na

Period Type: instant

X

- Definition

Remaining unamortized costs as of the balance sheet date that were essential to acquiring the note receivable, and that would not otherwise have been incurred without the note receivable agreement.

+ References

No definition available.

+ Details

Name: icoi_NotesReceivableInitialDirectCostsNetOfAmortization

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

A valuation allowance for financing receivables that are expected to be uncollectible.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 11B

-Subparagraph (c)(1)

-URI http://asc.fasb.org/extlink&oid=7512638&loc=SL6953423-111524

+ Details

Name: us-gaap_FinancingReceivableAllowanceForCreditLosses

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Reflects the cumulative amount of interest and fees paid by commercial loan borrowers which have not yet been taken into income in conformity with GAAP. Also reflects the amount of unamortized costs incurred to originate loans and leases, unamortized loan commitments and loan syndication fees, and premiums over or discounts from face amounts of acquired loans which have been classified as commercial loans by the entity and that are being amortized into income as an adjustment to yield.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 23

-Subparagraph a(i)(d)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Section 563c.102

-Paragraph 8

-Subparagraph a(i-v)

-Chapter V

-Subsection I

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Section 563c.102

-Paragraph 8

-Subparagraph e

-Chapter V

-Subsection I

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 01-6

-Paragraph 13

-Subparagraph e

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 4

-Subparagraph (a)(4)

-URI http://asc.fasb.org/extlink&oid=6952072&loc=d3e45377-112738

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Section 563c.102

-Paragraph 8

-Subparagraph f

-Chapter V

-Subsection I

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_LoansAndLeasesReceivableDeferredIncomeCommercial

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. Excludes amounts related to receivables held-for-sale.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-03.10(3))

-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 10

-Subparagraph 3

-Article 9

+ Details

Name: us-gaap_NotesReceivableGross

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3

-Article 5

+ Details

Name: us-gaap_NotesReceivableNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_NotesReceivableNetAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 16

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 12

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

+ Details

Name: us-gaap_ProceedsFromCollectionOfNotesReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 48 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6

Consolidated Statement of Changes in Equity (USD $)

Limited Partner [Member]

General Partner [Member]

Total Partners Equity [Member]

Noncontrolling Interests [Member]

Total

Balance at Dec. 31, 2012 $ 123,633,993 $ (106,892) $ 123,527,101 $ 6,395,368 $ 129,922,469

Balance (in shares) at Dec. 31, 2012 150,972

Net income 1,000,187 10,103 1,010,290 236,391 1,246,681

Proceeds from sale of limited partnership interests 22,464,607 0 22,464,607 0 22,464,607

Proceeds from sale of limited partnership interests (in shares) 22,643 173,615

Sales and offering expenses (2,647,053) 0 (2,647,053) 0 (2,647,053)

Cash distributions (3,048,086) (30,789) (3,078,875) (176,796) (3,255,671)

Investment by noncontrolling interests 0 0 0 3,902,480 3,902,480

Balance (unaudited) at Mar. 31, 2013 $ 141,403,648 $ (127,578) $ 141,276,070 $ 10,357,443 $ 151,633,513

Balance (unaudited) (in shares) at Mar. 31, 2013 173,615

X

- Definition

Sales and offering expenses attributed to limited partner interests.

+ References

No definition available.

+ Details

Name: icoi_SalesAndOfferingExpenses

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Represents an increase in noncontrolling interest from issuance of additional equity interests to noncontrolling interest holders or the sale of a portion of the parent's controlling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4616395-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(2)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 23

-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569655-111683

+ Details

Name: us-gaap_MinorityInterestIncreaseFromStockIssuance

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Total distributions to each class of partners (i.e., general, limited and preferred partners).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Practice Bulletin (PB)

-Number 14

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187171-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PartnersCapitalAccountDistributions

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Total change in each class of partners' capital accounts during the year due to the sale of units. All partners include general, limited and preferred partners.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Practice Bulletin (PB)

-Number 14

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187171-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PartnersCapitalAccountSaleOfUnits

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The number of each class of partnership units outstanding at the balance sheet date. Units represent shares of ownership of the general, limited, and preferred partners.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Practice Bulletin (PB)

-Number 14

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 16

-Subparagraph a, b

-Article 6

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 946

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.6-04.16(a))

-URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 946

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.6-04.16(b))

-URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 5

-Subparagraph (SAB TOPIC 4.F)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187171-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PartnersCapitalAccountUnits

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total units issued during the year due to the sale of units. All partners include general, limited and preferred partners.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Practice Bulletin (PB)

-Number 14

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 272

-SubTopic 10

-Section 50

-Paragraph 3

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PartnersCapitalAccountUnitsSaleOfUnits

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Amount of partners' capital (deficit), including portions attributable to both the parent and noncontrolling interests. Excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A1, A4, A5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 5

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1A

-Subparagraph (a),(c)

-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 55

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

+ Details

Name: us-gaap_ProfitLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 49 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

Leased Equipment at Cost
3 Months Ended

Mar. 31, 2013

Leased Equipment at Cost [Abstract]

Leased Equipment at Cost
(4)      Leased Equipment at Cost

Leased equipment at cost consisted of the following:

March 31,

December 31,

2013

2012

Marine vessels

$
81,651,931

$
81,651,931

Mining equipment

19,388,278

19,388,278

Oilfield services equipment

12,087,280

-

        Leased equipment at cost

113,127,489

101,040,209

Less: accumulated depreciation

4,721,594

2,167,417

        Leased equipment at cost, less accumulated depreciation

$
108,405,895

$
98,872,792

On February 15, 2013, the Partnership, through a joint venture owned 58% by the Partnership, 38% by ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P ("Fund Fourteen) and 4% by ICON ECI Partners L.P. ("ECI Partners"), entities also managed by the Investment Manager, purchased onshore oil field services equipment from Go Frac, LLC for approximately $11,804,000. Simultaneously, the equipment was leased back to Go Frac for a period of 45 months, expiring on November 30, 2016.

Depreciation expense was $2,554,177 for the three months ended March 31, 2013.  The Partnership did not have any operating leases during the three months ended March 31, 2012.

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13-14)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230

+ Details

Name: us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 50 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6

Leased Equipment at Cost (Details) (USD $)
3 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Feb. 15, 2013

ICON ECI Fund Fifteen, L.P. [Member]

Feb. 15, 2013

ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P. [Member]

Feb. 15, 2013

ICON ECI Partners, L.P. [Member]

Mar. 31, 2013

Marine Vessels [Member]

Dec. 31, 2012

Marine Vessels [Member]

Mar. 31, 2013

Mining Equipment [Member]

Dec. 31, 2012

Mining Equipment [Member]

Mar. 31, 2013

Oilfield Services Equipment [Member]

Feb. 15, 2013

Oilfield Services Equipment [Member]

Dec. 31, 2012

Oilfield Services Equipment [Member]

Property, Plant and Equipment [Line Items]

Leased equipment at cost $ 113,127,489 $ 101,040,209 $ 81,651,931 $ 81,651,931 $ 19,388,278 $ 19,388,278 $ 12,087,280 $ 0

Less. accumulated depreciation 4,721,594 2,167,417

Leased equipment at cost, less accumulated depreciation 108,405,895 98,872,792

Joint venture, ownership percentage (in hundredths) 58.00% 38.00% 4.00%

Purchase price of equipment 11,804,000

Term of lease 45 months

Depreciation expense $ 2,554,177

X

- Definition

The value of all capital leases added or acquired.

+ References

No definition available.

+ Details

Name: icoi_CapitalLeasesAcquisitionCostsOrSaleProceeds

Namespace Prefix: icoi_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The percentage of ownership of common stock or equity participation in the joint venture investee.

+ References

No definition available.

+ Details

Name: icoi_JointVentureOwnershipPercentage

Namespace Prefix: icoi_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition

Term of the lease.

+ References

No definition available.

+ Details

Name: icoi_TermOfLease

Namespace Prefix: icoi_

Data Type: xbrli:durationItemType

Balance Type: na

Period Type: instant

X

- Definition

Property, plant, or equipment held under lease agreements classified as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6455314&loc=d3e45014-112735

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 16

-Subparagraph a(i)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 1, 10, 13

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_CapitalLeasedAssetsGross

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The total gross amount less the charge for the use of the long-lived depreciable assets subject to a lease meeting the criteria for capitalization.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The total charge for the use of long-lived depreciable assets subject to a lease meeting the criteria for capitalization.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 122

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6455314&loc=d3e45014-112735

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 10

-Section 55

-Paragraph 40

-Subparagraph (Note 2)

-URI http://asc.fasb.org/extlink&oid=6584154&loc=d3e38371-112697

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 13

-Paragraph 13

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_Depreciation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 51 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 56 164 1 true 26 0 false 7 false false R1.htm 000100 - Document - Document and Entity Information Sheet http://iconinvestments.com/role/DocumentAndEntityInformation Document and Entity Information true false R2.htm 010000 - Statement - Consolidated Balance Sheets (unaudited) Sheet http://iconinvestments.com/role/ConsolidatedBalanceSheetsUnaudited Consolidated Balance Sheets (unaudited) false false R3.htm 010100 - Statement - Consolidated Balance Sheets (unaudited) (Parenthetical) Sheet http://iconinvestments.com/role/ConsolidatedBalanceSheetsUnauditedParenthetical Consolidated Balance Sheets (unaudited) (Parenthetical) false false R4.htm 020000 - Statement - Consolidated Statement of Operations (unaudited) Sheet http://iconinvestments.com/role/ConsolidatedStatementOfOperationsUnaudited Consolidated Statement of Operations (unaudited) false false R5.htm 030000 - Statement - Consolidated Statement of Changes in Equity Sheet http://iconinvestments.com/role/ConsolidatedStatementOfChangesInEquity Consolidated Statement of Changes in Equity false false R6.htm 040000 - Statement - Consolidated Statement of Cash Flows (unaudited) Sheet http://iconinvestments.com/role/ConsolidatedStatementOfCashFlowsUnaudited Consolidated Statement of Cash Flows (unaudited) false false R7.htm 060100 - Disclosure - Organization Sheet http://iconinvestments.com/role/Organization Organization false false R8.htm 060200 - Disclosure - Summary of Significant Accounting Policies Sheet http://iconinvestments.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies false false R9.htm 060300 - Disclosure - Net Investment in Notes Receivable Notes http://iconinvestments.com/role/NetInvestmentInNotesReceivable Net Investment in Notes Receivable false false R10.htm 060400 - Disclosure - Leased Equipment at Cost Sheet http://iconinvestments.com/role/LeasedEquipmentAtCost Leased Equipment at Cost false false R11.htm 060500 - Disclosure - Net Investment in Finance Lease Sheet http://iconinvestments.com/role/NetInvestmentInFinanceLease Net Investment in Finance Lease false false R12.htm 060600 - Disclosure - Non-Recourse Long-Term Debt Sheet http://iconinvestments.com/role/NonrecourseLongtermDebt Non-Recourse Long-Term Debt false false R13.htm 060700 - Disclosure - Revolving Line of Credit, Recourse Sheet http://iconinvestments.com/role/RevolvingLineOfCreditRecourse Revolving Line of Credit, Recourse false false R14.htm 060800 - Disclosure - Transactions with Related Parties Sheet http://iconinvestments.com/role/TransactionsWithRelatedParties Transactions with Related Parties false false R15.htm 060900 - Disclosure - Fair Value Measurements Sheet http://iconinvestments.com/role/FairValueMeasurements Fair Value Measurements false false R16.htm 061000 - Disclosure - Commitments and Contingencies Sheet http://iconinvestments.com/role/CommitmentsAndContingencies Commitments and Contingencies false false R17.htm 061100 - Disclosure - Subsequent Events Sheet http://iconinvestments.com/role/SubsequentEvents Subsequent Events false false R18.htm 070200 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://iconinvestments.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) false false R19.htm 080300 - Disclosure - Net Investment in Notes Receivable (Tables) Notes http://iconinvestments.com/role/NetInvestmentInNotesReceivableTables Net Investment in Notes Receivable (Tables) false false R20.htm 080400 - Disclosure - Leased Equipment at Cost (Tables) Sheet http://iconinvestments.com/role/LeasedEquipmentAtCostTables Leased Equipment at Cost (Tables) false false R21.htm 080500 - Disclosure - Net Investment in Finance Lease (Tables) Sheet http://iconinvestments.com/role/NetInvestmentInFinanceLeaseTables Net Investment in Finance Lease (Tables) false false R22.htm 080800 - Disclosure - Transactions with Related Parties (Tables) Sheet http://iconinvestments.com/role/TransactionsWithRelatedPartiesTables Transactions with Related Parties (Tables) false false R23.htm 080900 - Disclosure - Fair Value Measurements (Tables) Sheet http://iconinvestments.com/role/FairValueMeasurementsTables Fair Value Measurements (Tables) false false R24.htm 090100 - Disclosure - Organization (Details) Sheet http://iconinvestments.com/role/OrganizationDetails Organization (Details) false false R25.htm 090200 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://iconinvestments.com/role/SummaryOfSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) false false R26.htm 090300 - Disclosure - Net Investment in Notes Receivable (Details) Notes http://iconinvestments.com/role/NetInvestmentInNotesReceivableDetails Net Investment in Notes Receivable (Details) false false R27.htm 090400 - Disclosure - Leased Equipment at Cost (Details) Sheet http://iconinvestments.com/role/LeasedEquipmentAtCostDetails Leased Equipment at Cost (Details) false false R28.htm 090500 - Disclosure - Net Investment in Finance Lease (Details) Sheet http://iconinvestments.com/role/NetInvestmentInFinanceLeaseDetails Net Investment in Finance Lease (Details) false false R29.htm 090600 - Disclosure - Non-Recourse Long-Term Debt (Details) Sheet http://iconinvestments.com/role/NonrecourseLongtermDebtDetails Non-Recourse Long-Term Debt (Details) false false R30.htm 090700 - Disclosure - Revolving Line of Credit, Recourse (Details) Sheet http://iconinvestments.com/role/RevolvingLineOfCreditRecourseDetails Revolving Line of Credit, Recourse (Details) false false R31.htm 090800 - Disclosure - Transactions with Related Parties (Details) Sheet http://iconinvestments.com/role/TransactionsWithRelatedPartiesDetails Transactions with Related Parties (Details) false false R32.htm 090900 - Disclosure - Fair Value Measurements (Details) Sheet http://iconinvestments.com/role/FairValueMeasurementsDetails Fair Value Measurements (Details) false false R33.htm 091000 - Disclosure - Commitments and Contingencies (Details) Sheet http://iconinvestments.com/role/CommitmentsAndContingenciesDetails Commitments and Contingencies (Details) false false R34.htm 091100 - Disclosure - Subsequent Events (Details) Sheet http://iconinvestments.com/role/SubsequentEventsDetails Subsequent Events (Details) false false All Reports Book All Reports Element icoi_InterestRateStatedPercentage had a mix of decimals attribute values: 2 4. Element us-gaap_FairValueInputsDiscountRate had a mix of decimals attribute values: 2 4. Process Flow-Through: 010000 - Statement - Consolidated Balance Sheets (unaudited) Process Flow-Through: 010100 - Statement - Consolidated Balance Sheets (unaudited) (Parenthetical) Process Flow-Through: 020000 - Statement - Consolidated Statement of Operations (unaudited) Process Flow-Through: 040000 - Statement - Consolidated Statement of Cash Flows (unaudited) icoi-20130331.xml icoi-20130331.xsd icoi-20130331_cal.xml icoi-20130331_def.xml icoi-20130331_lab.xml icoi-20130331_pre.xml true true XML 52 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6

Leased Equipment at Cost (Tables)
3 Months Ended

Mar. 31, 2013

Leased Equipment at Cost [Abstract]

Leased Equipment at Cost
Leased equipment at cost consisted of the following:

March 31,

December 31,

2013

2012

Marine vessels

$
81,651,931

$
81,651,931

Mining equipment

19,388,278

19,388,278

Oilfield services equipment

12,087,280

-

        Leased equipment at cost

113,127,489

101,040,209

Less: accumulated depreciation

4,721,594

2,167,417

        Leased equipment at cost, less accumulated depreciation

$
108,405,895

$
98,872,792

X

- Definition

Tabular disclosure of the components of leased equipment at cost, net of accumulated depreciation.

+ References

No definition available.

+ Details

Name: icoi_LeasedEquipmentAtCostTableTextBlock

Namespace Prefix: icoi_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

Consolidated Statement of Operations (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Revenue:
Finance income	$ 2,034,976	$ 705,195
Rental income	4,264,395	0
Other income	13,262	3,769
Total revenue	6,312,633	708,964
Expenses:
Management fees	209,491	26,817
Administrative expense reimbursements	969,695	419,085
General and administrative	304,465	232,801
Interest	1,028,124	188,093
Depreciation	2,554,177	0
Total expenses	5,065,952	866,796
Net income (loss)	1,246,681	(157,832)
Less: net income (loss) attributable to noncontrolling interests	236,391	(143,063)
Net income (loss) attributable to Fund Fifteen	1,010,290	(14,769)
Net income (loss) attributable to Fund Fifteen allocable to:
Limited partners	1,000,187	(14,621)
General Partner	10,103	(148)
Net income (loss) attributable to Fund Fifteen	$ 1,010,290	$ (14,769)
Weighted average number of limited partnership interests outstanding (in shares)	162,992	52,155
Net income (loss) attributable to Fund Fifteen per weighted average limited partnership interest outstanding (in dollars per share)	$ 6.14	$ (0.28)

Non-Recourse Long-Term Debt	3 Months Ended
Non-Recourse Long-Term Debt	Mar. 31, 2013
Non-Recourse Long-Term Debt [Abstract]
Non-Recourse Long-Term Debt	(6) Non-Recourse Long-Term Debt As of March 31, 2013 and December 31, 2012, the Partnership had $67,520,833 and $69,250,000 of non-recourse long-term debt, respectively, with maturity dates ranging from June 4, 2019 to December 31, 2020 and interest rates ranging from 4.6% to 4.997% per year. At March 31, 2013, the Partnership was in compliance with all covenants related to non-recourse long-term debt.

Revolving Line of Credit, Recourse	3 Months Ended
Revolving Line of Credit, Recourse	Mar. 31, 2013
Revolving Line of Credit, Recourse [Abstract]
Revolving Line of Credit, Recourse	(7) Revolving Line of Credit, Recourse On May 10, 2011, the Partnership entered into an agreement with California Bank & Trust ("CB&T") for a revolving line of credit of up to $5,000,000 (the "Facility"), which is secured by all of the Partnership's assets not subject to a first priority lien. Amounts available under the Facility are subject to a borrowing base that is determined, subject to certain limitations, based on the present value of the future receivables under certain loans and lease agreements in which the Partnership has a beneficial interest. The Facility has been extended through March 31, 2015 and increased to $10,000,000. The interest rate for general advances under the Facility is CB&T's prime rate. The Partnership may elect to designate up to five advances on the outstanding principal balance of the Facility to bear interest at the London Interbank Offered Rate ("LIBOR") plus 2.5% per year. In all instances, borrowings under the Facility are subject to an interest rate floor of 4.0% per year. In addition, the Partnership is obligated to pay an annualized 0.5% fee on unused commitments under the Facility. At March 31, 2013, there were no obligations outstanding under the Facility and the Partnership had $10,000,000 available under the Facility pursuant to the borrowing base. At March 31, 2013, the Partnership was in compliance with all covenants related to the Facility.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2013
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(10) Commitments and Contingencies At the time the Partnership acquires or divests of its interest in Capital Assets, the Partnership may, under very limited circumstances, agree to indemnify the seller or buyer for specific contingent liabilities. The General Partner believes that any liability of the Partnership that may arise as a result of any such indemnification obligations will not have a material adverse effect on the consolidated financial condition or results of operations of the Partnership taken as a whole. In connection with certain investments, the Partnership is required to maintain restricted cash balances with certain banks. Restricted cash of approximately $625,000 and $500,000 is presented within other assets in the Partnership's consolidated balance sheets at March 31, 2013 and December 31, 2012, respectively. The Partnership has entered into a remarketing agreement with a third party. Residual proceeds received in excess of specific amounts will be shared with this third party in accordance with the terms of the remarketing agreement. The present value of the obligation related to this agreement at March 31, 2013 and December 31, 2012 was approximately $112,000 and $108,000, respectively.

Subsequent Events (Details) (USD $)			3 Months Ended
Subsequent Events (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012	Apr. 02, 2013 Subsequent Event [Member] Credit Vessel	Apr. 02, 2013 ICON Leasing Fund Fifteen, LLC [Member] Subsequent Event [Member]	Apr. 02, 2013 ICON Leasing Fund Fourteen, LLC [Member] Subsequent Event [Member]	Apr. 05, 2013 Lubricating Specialties Company ("LSC"). [Member] Issuance of Debt [Member] Subsequent Event [Member]
Subsequent Event [Line Items]
Ownership percentage in equipment purchased (in hundredths)				55.00%	45.00%
Number of chemical tanker vessels purchased			2
Lease financing arrangement term			5 years
Purchase price of equipment			$ 8,850,000
Vessels financing through non-recourse long-term debt			22,750,000
Vessels financing through subordinated, non-interest-bearing seller's credit			5,500,000
Number of seller's credits			2
Term loan issued	$ 50,484,880	$ 43,136,956				$ 13,500,000
Interest rate on loan issued (in hundredths)						13.50%
Lease expiration date						Aug. 01, 2018

Net Investment in Notes Receivable (Details) (USD $)	3 Months Ended				3 Months Ended
Net Investment in Notes Receivable (Details) (USD $)	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012	Mar. 31, 2013 Heniff [Member]	Mar. 31, 2013 Kanza Construction, Inc. [Member]	Mar. 09, 2012 Kanza Construction, Inc. [Member]
Schedule of Notes Receivable [Abstract]
Principal outstanding	$ 49,516,251		$ 42,538,932
Initial direct costs	3,710,533		3,282,650
Deferred fees	(781,904)		(724,626)
Credit loss reserve	(1,960,000)		(1,960,000)
Net investment in notes receivable	50,484,880		43,136,956		487,000
Face amount of loan made by the Partnership				7,200,000		5,000,000
Interest rate (in hundredths)				12.25%		13.00%
Term of note receivable				42 months		60 months
Proceeds from note receivable	$ 222,681	$ 60,417			$ 28,000

Consolidated Statement of Changes in Equity (USD $)	Limited Partner [Member]	General Partner [Member]	Total Partners Equity [Member]	Noncontrolling Interests [Member]	Total
Balance at Dec. 31, 2012	$ 123,633,993	$ (106,892)	$ 123,527,101	$ 6,395,368	$ 129,922,469
Balance (in shares) at Dec. 31, 2012	150,972
Net income	1,000,187	10,103	1,010,290	236,391	1,246,681
Proceeds from sale of limited partnership interests	22,464,607	0	22,464,607	0	22,464,607
Proceeds from sale of limited partnership interests (in shares)	22,643				173,615
Sales and offering expenses	(2,647,053)	0	(2,647,053)	0	(2,647,053)
Cash distributions	(3,048,086)	(30,789)	(3,078,875)	(176,796)	(3,255,671)
Investment by noncontrolling interests	0	0	0	3,902,480	3,902,480
Balance (unaudited) at Mar. 31, 2013	$ 141,403,648	$ (127,578)	$ 141,276,070	$ 10,357,443	$ 151,633,513
Balance (unaudited) (in shares) at Mar. 31, 2013	173,615

Leased Equipment at Cost (Details) (USD $)	3 Months Ended
Leased Equipment at Cost (Details) (USD $)	Mar. 31, 2013	Dec. 31, 2012	Feb. 15, 2013 ICON ECI Fund Fifteen, L.P. [Member]	Feb. 15, 2013 ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P. [Member]	Feb. 15, 2013 ICON ECI Partners, L.P. [Member]	Mar. 31, 2013 Marine Vessels [Member]	Dec. 31, 2012 Marine Vessels [Member]	Mar. 31, 2013 Mining Equipment [Member]	Dec. 31, 2012 Mining Equipment [Member]	Mar. 31, 2013 Oilfield Services Equipment [Member]	Feb. 15, 2013 Oilfield Services Equipment [Member]	Dec. 31, 2012 Oilfield Services Equipment [Member]
Property, Plant and Equipment [Line Items]
Leased equipment at cost	$ 113,127,489	$ 101,040,209				$ 81,651,931	$ 81,651,931	$ 19,388,278	$ 19,388,278	$ 12,087,280		$ 0
Less. accumulated depreciation	4,721,594	2,167,417
Leased equipment at cost, less accumulated depreciation	108,405,895	98,872,792
Joint venture, ownership percentage (in hundredths)			58.00%	38.00%	4.00%
Purchase price of equipment											11,804,000
Term of lease											45 months
Depreciation expense	$ 2,554,177