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Note A - Organization and Summary of Significant Accounting Policies: Allocation of Profits, Gains, Losses and Distributions (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Allocation of Profits, Gains, Losses and Distributions

Allocation of Profits, Gains, Losses and Distributions

 

Profits, gains, losses and distributions of the Partnership are allocated between general and limited partners in accordance with the provisions of the Partnership Agreement.

 

Profits and losses, not including gains from property dispositions, are allocated as follows: a) first, 10% to the general partner, and b) remainder allocated 2% to the general partner and 98% to the limited partners.

 

Any gain from property dispositions shall be allocated as follows: a) first, to the general partner in an amount equal to distributions to the general partner from proceeds of property dispositions or refinancings; b) until the general partner no longer has a deficit balance in its capital account, 12% to the general partner and 88% to the limited partners, and c) remainder to the limited partners.