Note C - Mortgage Notes Payable

12 Months Ended

Dec. 31, 2012

Notes

Note C - Mortgage Notes Payable

Note C - Mortgage Notes Payable

The principal terms of mortgage notes payable are as follows:

Property	Principal Balance at December 31, 2012	Principal Balance at December 31, 2011	Monthly Payment Including Interest	Stated Interest Rate (1)	Maturity Date	Principal Balance Due at Maturity
	(in thousands)		(in thousands)			(in thousands)
Wood Creek Apartments 1st mortgage	$13,143	$13,373	$ 85	5.87%	08/01/2016	$12,190
Wood Creek Apartments 2nd mortgage	5,405	5,491	33	5.68%	08/01/2016	5,049
Total	$18,548	$18,864	$118			$17,239

(1)   Fixed rate mortgages.

The mortgage notes payable are non-recourse and are secured by a pledge of the Partnership's rental property and by a pledge of revenues from the rental property. The mortgage notes payable include prepayment penalties if repaid prior to maturity. Further, the property may not be sold subject to existing indebtedness.

Scheduled principal payments of the mortgage notes payable subsequent to December 31, 2012, are as follows (in thousands):

2013	$   338
2014	359
2015	380
2016	17,471
	$18,548