-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Nze00BSjPXXbsFTldne4+EABpOb8USO9UInNmYmjwNK9H8BCMTbPg6Hfdp8VFOCT cMDjFrQkWeoUNRKvC8xNBg== 0000841127-02-000004.txt : 20021114 0000841127-02-000004.hdr.sgml : 20021114 20021114143824 ACCESSION NUMBER: 0000841127-02-000004 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20020930 FILED AS OF DATE: 20021114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: REALTY PARKING PROPERTIES LP CENTRAL INDEX KEY: 0000841127 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 521591575 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-17616 FILM NUMBER: 02824406 BUSINESS ADDRESS: STREET 1: 225 E REDWOOD ST CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4107274083 MAIL ADDRESS: STREET 2: 225 E REDWOOD ST CITY: BALTIMORE STATE: MD ZIP: 21202 10-Q 1 parkingfiling10q902.txt REALTY PARKING 10Q FOR QTR ENDING 9/30/02 FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) {X} QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2002 ------------------ { } TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _____ For Quarter Ended September 30, 2002 Commission file number 0-17616 ------------------ Realty Parking Properties L.P. (Exact Name of Registrant as Specified in its Charter) Delaware 52-1591575 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification Number) 225 East Redwood Street, Baltimore, Maryland 21202 (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (410) 727-4083 N/A (Former Name, Former Address, and Former Fiscal Year, if Changed Since Last Report.) 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 X No______ REALTY PARKING PROPERTIES L.P. INDEX Page No. Part I. Financial Information Item 1. Financial Statements Balance Sheets 1 Statements of Operations 2 Statements of Partners' Capital 3 Statements of Cash Flows 4 Notes to Financial Statements 5-7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8-10 Item 3. Quantitative and Qualitative Disclosures About Market Risk 11 Item 4. Controls and procedures 11 Part II. Other Information Item 1. through Item 6. 11 Signatures 12 REALTY PARKING PROPERTIES L.P. Balance Sheets
September 30, 2002 December 31, (Unaudited) 2001 ------------------- -------------------- Assets Investment in real estate $ 11,111,701 $ 16,856,095 Properties held for sale 4,099,510 - Cash and cash equivalents 719,741 834,800 Accounts receivable 263,141 170,620 ------------------- -------------------- $ 16,194,093 $ 17,861,515 =================== ==================== Liabilities and Partners' Capital Liabilities Accounts payable and accrued expenses $ 69,955 $ 160,898 Due to affiliate 34,203 38,357 Real estate taxes payable 146,000 169,000 ------------------- -------------------- 250,158 368,255 ------------------- -------------------- Partners' Capital General Partner 174 - Assignee and Limited Partnership Interests - $25 stated value per unit, 1,909,127 units outstanding 15,943,661 17,493,160 Subordinated Limited Partner 100 100 ------------------- -------------------- 15,943,935 17,493,260 ------------------- -------------------- $ 16,194,093 $ 17,861,515 =================== ====================
See accompanying notes to financial statements 1 REALTY PARKING PROPERTIES L.P. Statements of Operations (Unaudited)
Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2002 2001 2002 2001 --------------------------------------- ---------------------------------------- Revenues Parking lots $ 210,148 $ 223,104 $ 634,011 $ 725,473 Interest income 4,837 7,070 10,667 29,116 ------------------ ------------------- ------------------- -------------------- 214,985 230,174 644,678 754,589 ------------------ ------------------- ------------------- -------------------- Expenses Administrative, including amounts to related party 27,306 22,652 100,208 74,930 Professional fees 5,500 19,968 16,984 30,968 Management fees to related party 3,151 2,723 9,593 11,002 Real estate taxes 20,000 23,272 62,261 90,489 Depreciation 8,980 9,725 26,940 29,805 ------------------ ------------------- ------------------- -------------------- 64,937 78,340 215,986 237,194 ------------------ ------------------- ------------------- -------------------- Income from continuing operations- before gain on properties, net 150,048 151,834 428,692 517,395 Gain on properties, net - 456,919 - 563,151 ------------------ ------------------- ------------------- -------------------- Income from continuing operations 150,048 608,753 428,692 1,080,546 Discontinued operations 593,563 111,796 851,607 348,913 ------------------ ------------------- ------------------- -------------------- Net earnings $ 743,611 $ 720,549 $ 1,280,299 $ 1,429,459 ================== =================== =================== ==================== Net earnings per unit of assignee and limited partnership interest-basic Continuing operations $ 0.08 $ 0.08 $ 0.22 $ 0.27 Discontinued operations 0.31 0.30 0.44 0.47 ------------------ ------------------- ------------------- -------------------- Total $ 0.39 $ 0.38 $ 0.66 $ 0.74 ================== =================== =================== ====================
See accompanying notes to financial statements 2 REALTY PARKING PROPERTIES L.P. Statements of Partners' Capital Nine Months Ended September 30, 2002 and 2001 (Unaudited)
Assignee and Limited Subordinated Partnership Limited General Interests Partner Partner Total ---------------------------------------------------------------------------------- Balance at December 31, 2001 $ 17,493,160 $ 100 $ - $ 17,493,260 Net earnings 1,262,489 - 17,810 1,280,299 Distributions to partners - Operations (864,138) - (17,636) (881,774) Sale proceeds, net (1,947,850) - - (1,947,850) ------------------ ------------------- ------------------- -------------------- Balance at September 30, 2002 $ 15,943,661 $ 100 $ 174 $ 15,943,935 ================== =================== =================== ==================== Balance at December 31, 2000 $ 20,516,000 $ 100 $ - $ 20,516,100 Net earnings 1,407,019 - 22,440 1,429,459 Distributions to partners - Operations (1,099,661) - (22,440) (1,122,101) Sales proceeds, net (1,005,236) - - (1,005,236) ------------------ ------------------- ------------------- -------------------- Balance at September 30, 2001 $ 19,818,122 $ 100 $ - $ 19,818,222 ================== =================== =================== ====================
See accompanying notes to financial statements 3 REALTY PARKING PROPERTIES L.P. Statements of Cash Flows (Unaudited)
Nine Months Ended September 30, September 30, 2002 2001 ------------------------------------- Cash flows from operating activities Net earnings $ 1,280,299 $ 1,429,459 Adjustments to reconcile net earnings to net cash provided by operating activities Depreciation 86,838 89,703 Gain on sales of properties, net (389,804) (563,151) Changes in assets and liabilities (Increase) decrease in accounts receivable and real estate taxes payable, net (115,521) 16,519 Decrease in other assets - 21,479 Increase (decrease) in accounts payable and accrued expenses (90,943) 53,665 Increase (decrease) in due to affiliate (4,154) 16,283 ------------------- -------------------- Net cash provided by operating activities 766,715 1,063,957 ------------------- -------------------- Cash flows from investing activities- proceeds from sales of properties, net 1,947,850 1,860,261 ------------------- -------------------- Cash flows from financing activities - distributions to partners (2,829,624) (2,127,337) ------------------- -------------------- Net increase (decrease) in cash and cash equivalents (115,059) 796,881 Cash and cash equivalents Beginning of period 834,800 833,887 ------------------- -------------------- End of period $ 719,741 $ 1,630,768 =================== ====================
See accompanying notes to financial statements 4 REALTY PARKING PROPERTIES L.P. Notes to Financial Statements September 30, 2002 (Unaudited) Note 1 - The Partnership and Basis of Preparation The accompanying financial statements of Realty Parking Properties L.P. (the "Partnership") do not include all of the information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America. The unaudited interim financial statements reflect all adjustments, which are, in the opinion of management, necessary for a fair statement of financial position, operating results and cash flows for the interim periods presented. All such adjustments are of a normal recurring nature. Certain amounts in the statements of operations for 2001 have been reclassified to conform to the presentation for 2002. The unaudited interim financial information should be read in conjunction with the financial statements contained in the 2001 Annual Report. Note 2 - Cash and Cash Equivalents The Partnership considers all short-term investments with maturities of three months or less at dates of purchase as cash equivalents. Cash and cash equivalents consist of cash and money market accounts and are stated at cost, which approximated market value at September 30, 2002 and December 31, 2001. Note 3 - Investment in Real Estate Investment in real estate is summarized as follows: September 30, 2002 December 31, 2001 ------------------ ----------------- Land $10,508,594 $14,520,767 Buildings 899,741 3,445,777 Land Improvements 110,104 110,104 -------------- -------------- 11,518,439 18,076,648 Less accumulated depreciation 406,738 1,220,553 -------------- -------------- Total $11,111,701 $16,856,095 =========== =========== Depreciation of the garage structures is computed using the straight-line method over 31.5 years for property placed in service prior to January 1, 1994 and 39 years for property placed in service after January 1, 1994. -5- REALTY PARKING PROPERTIES L.P. Notes to Financial Statements September 30, 2002 (Unaudited) Note 4 - Discontinued Operations At September 30, 2002, the Partnership's Houston, Birmingham and Milwaukee properties were under contracts for sale and were classified as properties held for sale in the balance sheet. In accordance with the provisions of Statement of Financial Accounting Standards No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets," which was effective on January 1, 2002 with respect to the Partnership, the results of operations of these properties and the Partnership's Nashville property (sold in August 2002) are reported in discontinued operations for all periods presented in the statements of operations. Income from discontinued operations is summarized as follows: Three Months Ended Nine Months Ended Sept. 30, Sept. 30, Sept. 30, Sept. 30, 2002 2001 2002 2001 ------------ ------------ ----------- ----------- Revenues $ 229,035 $ 137,204 $ 536,598 $ 436,475 Expenses (25,276) (25,408) (74,795) (87,562) Gain on sale of property 389,804 - 389,804 - ------------ ------------ ----------- ----------- $ 593,563 $ 111,796 $ 851,607 $ 348,913 ============ ============ =========== =========== Note 5 - Sales of Properties On August 6, 2002, the Partnership sold its Nashville, Tennessee property for $2,000,000. The Partnership's investment in the property was $1,558,046. The gain from the sale totaled $389,804, net of expenses of $52,150. On September 24, 2001, the Partnership sold its Reno, Nevada property for $950,000. The Partnership's investment in the property was $398,110, net of accumulated depreciation of $12,535 and an impairment loss of $636,545 recorded in 1999. The gain from the sale totaled $456,919, net of expenses of $94,971. On June 1, 2001, the Partnership sold its Rochester, New York property for $550,000. The Partnership's investment in the property was $400,000, net of an impairment loss of $734,175 recorded in 1999. The gain from the sale totaled $132,767, net of expenses of $17,233. On March 1, 2001, the Partnership sold its Dayton, Ohio property for $500,000. The Partnership's investment in the property was $499,000, net of accumulated depreciation of $9,458 and an impairment loss of $679,959 recorded in 1999. The loss from the sale totaled $26,535, net of expenses of $27,535. Note 6 - Related Party Transactions The General Partner earned a management fee of $6,067 and $5,540 (1% of gross revenues of the properties and other sources of income) during the three months ended September 30, 2002 and 2001, respectively, and $19,952 and $20,475 during the nine months ended September 30, 2002 and 2001, respectively (portions of which have been recorded in discontinued operations). The general partner was reimbursed for certain costs incurred relating to administrative and professional services of the Partnership totaling $28,136 and $14,613 for the three months ended September 30, 2002 and 2001, respectively, and $95,156 and $93,257 for the nine months ended September 30, 2002 and 2001, respectively. -6- REALTY PARKING PROPERTIES L.P. Notes to Financial Statements September 30, 2002 (Unaudited) Note 6 - Related Party Transactions (continued) Pursuant to an Investment Advisory Agreement, Central Parking System (the "Advisor") earns a fee upon disposition of a property equal to 2% of the contract price for the sale of a property. Such fee is earned for services rendered to advise the General Partner on the timing and pricing of a property sale. As of September 30, 2002, the Advisor earned an Advisory fee totaling $40,000 from the sale of the Nashville property. As of September 30, 2001, the Advisor earned Advisory fees totaling $40,000 from the sales of the Dayton, Rochester and Reno properties. Note 7 - Net Earnings Per Unit of Assignee and Limited Partnership Interest Net earnings per unit of assignee and limited partnership interest is disclosed on the Statements of Operations and is based upon 1,909,127 units outstanding. Note 8 - Subsequent Events On November 14, 2002, the Partnership plans to make a cash distribution totaling $382,753 of which 98% is allocable to Assignee and Limited Partners. This distribution is derived from funds provided by operating activities during the quarter ended September 30, 2002. Assignee and Limited Partners will receive a cash distribution of approximately $0.20 per unit. -7- REALTY PARKING PROPERTIES L.P. Management's Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources The Partnership was fully invested in parking properties as it entered 2002 and currently has no plans to use working capital to perform major repairs or improvements to any of its properties. The Partnership has sufficient cash and cash equivalents to satisfy its liquidity requirements for 2002. At September 30, 2002, the Partnership had a working capital position that included cash and cash equivalents of $719,741, accounts receivable (net of real estate taxes payable) of $117,141 and accounts payable and accrued expenses of $104,158. Cash and cash equivalents decreased $145,302 during the third quarter of 2002. This decrease represents the net effect of $197,798 in cash provided by operating activities, $1,947,850 of proceeds from the sale of the Nashville property, net of the quarterly distribution to investors totaling $343,100, and the Nashville sale proceeds distribution to investors totaling $1,947,850. On August 6, 2002, the Partnership sold its Nashville, Tennessee property for $2,000,000. The Partnership's investment in the property was $1,558,046. The gain from the sale totaled $389,804, net of expenses of $52,150. On November 14, 2002, the Partnership plans to make a cash distribution totaling $382,753 of which 98% is allocable to Assignee and Limited Partners. This distribution is derived from funds provided by operating activities during the quarter ended September 30, 2002. Assignee and Limited Partners will receive a cash distribution of approximately $0.20 per unit. Results of Operations In accordance with the provisions of Statement of Financial Accounting Standards No. 144 "Accounting for the Impairment or Disposal of Long-Lived Assets" (SFAS No. 144), the statements of operations present income from continuing operations and from discontinued operations. Discontinued operations include the operating results of properties sold in 2002 or under contracts for sale at September 30, 2002. The prior year amounts for the properties sold or classified as held for sale have been reclassified to discontinued operations as required by SFAS No. 144. The following discussion and analysis of the results of operations conforms to this presentation in the statements of operations. Parking lot revenue includes base and percentage rents earned pursuant to lease agreements with the Advisor, and the net operating revenue of one property operated under a management contract. The Partnership leases six of its properties to the Advisor under terms that include a minimum rent calculated as a percentage of certain acquisition costs. The Advisor is also obligated to pay percentage rent, calculated as a percentage of gross parking revenues in excess of a base amount. Additionally, one property is managed by a parking operator under the terms of a management contract with the Partnership. Under the terms of the management contract, the operator forwards the property's net operating revenue to the Partnership. The Partnership is responsible for the payment of real estate taxes on one property operated under the terms of a lease agreement and the property operated under a management contract. Continuing Operations Income from continuing operations includes results from four of the Partnership's properties in 2002 and reflects these same four properties and the four properties sold in 2001. Expenses not directly identifiable with a specific property held for sale are reflected in continuing operations. -8- REALTY PARKING PROPERTIES L.P. Management's Discussion and Analysis of Financial Condition and Results of Operations Continuing Operations - continued Parking lot revenue of $210,148 was earned during the three months ended September 30, 2002, reflecting a decrease of $12,956 from the same period in 2001. The decrease is a result of property sales during 2001 ($26,659), net of an increase from the property operated under a management contract ($13,703). Parking lot revenue of $634,011 was earned during the nine months ended September 30, 2002, reflecting a decrease of $91,462 from the same period in 2001. The decrease is a result of property sales during 2001 ($107,747), net of an increase from the property operated under a management contract ($16,285). Expenses incurred during the three months ended September 30, 2002, net of depreciation, totaled $55,957 reflecting a decrease of $12,658 from the same period in 2001. Professional fees decreased because consulting expenses incurred during 2001 were not incurred during 2002. The decrease is partially offset by higher administrative costs resulting from additional expenses incurred in examining property sale possibilities. Expenses incurred during the nine months ended September 30, 2002, net of depreciation, totaled $189,046 reflecting a decrease of $18,343 from the same period in 2001. The decrease is primarily the result of lower real estate tax expenses incurred in 2002, as a result of properties sold during 2001. Additionally, professional fees decreased because consulting expenses incurred during 2001 were not incurred during 2002. The decreases are partially offset by higher administrative costs resulting from additional expenses incurred in examining property sale possibilities. Discontinued Operations Discontinued operations reflects parking revenue from the Partnership's properties in Nashville, Houston, Birmingham and Milwaukee, net of expenses that can be directly attributed to the properties. Parking lot revenue of $229,035 was earned during the three months ended September 30, 2002, reflecting an increase of $91,831 over the same period in 2001. Parking lot revenue of $536,598 was earned during the nine months ended September 30, 2002, reflecting an increase of $100,123 over the same period in 2001. The 2002 increases are primarily the result of higher percentage rents earned at three of the properties. Expenses incurred during the three months ended September 30, 2002, net of depreciation, totaled $5,310 reflecting a slight decrease of $132 from the same period in 2001. Expenses incurred during the nine months ended September 30, 2002, net of depreciation, totaled $14,897 reflecting a decrease of $12,767 from the same period in 2001. The decrease is primarily the result of lower franchise and excise taxes. -9- REALTY PARKING PROPERTIES L.P. Management's Discussion and Analysis of Financial Condition and Results of Operations Outlook The Partnership currently has signed contracts for the Houston, Birmingham and Milwaukee properties; however, there is no assurance that these properties will be sold. There has been significant interest from various buyers throughout the country in the Partnership's remaining properties. While the Partnership's original investment strategy had anticipated that the highest returns might be obtained by selling properties at a price reflective of their development potential, strong returns can also be earned from selling properties based on their parking economics. Critical Accounting Policies Critical accounting policies are those that are both important to the presentation of financial condition and results of operations and require management's most difficult, complex or subjective judgments. The Partnership's critical accounting policy relates to the evaluation of impairment of long-lived assets. If events or changes in circumstances indicate that the carrying value of a property to be held and used may be impaired, a recoverability analysis is performed based on estimated undiscounted cash flows to be generated from the property in the future. If the analysis indicates that the carrying value is not recoverable from future cash flows, the property is written down to its estimated fair value and an impairment loss is recognized. If the Partnership decides to sell a property, it evaluates the recoverability of the carrying amount of the assets. If the evaluation indicates that the carrying value is not recoverable from estimated net sales proceeds, the property is written down to estimated fair value less costs to sell and an impairment loss is recognized. The estimates of cash flows and fair values of the properties are based on current market conditions and consider matters such as each of the parking properties' parking rates, operating expenses and/or the terms of a net lease with a parking operator, recent sales data for comparable properties and, where applicable, contracts or the results of negotiations with purchasers or prospective purchasers. These estimates are subject to revision as market conditions, and the Partnership's assessment of them, change. -10- REALTY PARKING PROPERTIES L.P. PART I. FINANCIAL INFORMATION Item 3. Quantitative and Qualitative Disclosures About Market Risk Inapplicable Item 4. Controls and Procedures Within the 90-day period prior to the filing of this quarterly report, an evaluation was performed under the supervision and with the participation of the Partnership's management, including the Chief Executive Officer and Chief Financial Officer of the general partner, of the effectiveness of the design and operation of disclosure controls and procedures as defined in Rule 13a-14 of the rules promulgated under the Securities and Exchange Act of 1934, as amended. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the design and operation of these disclosure controls and procedures were effective. There have been no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation. PART II. OTHER INFORMATION Item 1. Legal Proceedings Inapplicable Item 2. Changes in Securities and Use of Proceeds Inapplicable Item 3. Defaults upon Senior Securities Inapplicable Item 4. Submission of Matters to a Vote of Security Holders Inapplicable Item 5. Other Information Inapplicable Item 6. Exhibits and Reports on Form 8-K a. Exhibits Exhibit 99.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. Exhibit 99.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. Exhibit 99.3 Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Exhibit 99.4 Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. b. Reports on Form 8-K: None -11- REALTY PARKING PROPERTIES L.P. SIGNATURES Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. REALTY PARKING PROPERTIES L.P. DATE: 11/13/02 By: /s/ John M. Prugh John M. Prugh President and Director Realty Parking Company, Inc. General Partner DATE: 11/12/02 By: /s/ Timothy M. Gisriel Timothy M. Gisriel Treasurer Realty Parking Company, Inc. General Partner -12- EX-99 3 ceocertification.txt CEO 906 CERTIFICATION/JMP Exhibit 99.1 REALTY PARKING PROPERTIES L.P. CERTIFICATION PURSUANT TO 18 U.S.C. ss. 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the filing of Realty Parking Properties L.P.'s (the "Partnership") Quarterly Report on Form 10-Q for the period ending June 30, 2002 with the Securities and Exchange Commission on the date hereof (the "Report"), I, John M. Prugh, the Chief Executive Officer of Realty Parking Company, Inc., General Partner of the Partnership, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Partnership. Date: 11/13/02 By: /s/John M. Prugh John M. Prugh Chief Executive Officer Realty Parking Company, Inc. General Partner EX-99 4 cfocertification.txt CFO 906 CERTIFICATION/TMG Exhibit 99.2 REALTY PARKING PROPERTIES L.P. CERTIFICATION PURSUANT TO 18 U.S.C.ss.1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the filing of Realty Parking Properties L.P.'s (the "Partnership") Quarterly Report on Form 10-Q for the period ending June 30, 2002 with the Securities and Exchange Commission on the date hereof (the "Report"), I, Timothy M. Gisriel, the Chief Financial Officer of Realty Parking Company, Inc., General Partner of the Partnership, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Partnership. Date: 11/12/02 By: /s/ Timothy M. Gisriel Timothy M. Gisriel Chief Financial Officer Realty Parking Company, Inc. General Partner EX-99 5 cert993.txt CEO 302 CERTIFICATION/JMP Exhibit 99.3 REALTY PARKING PROPERTIES L.P. Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 I, John M. Prugh, certify that: 1. I have reviewed this quarterly report on Form 10-Q of Realty Parking Properties L.P.; 2. Based on my knowledge, this quarterly 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 annual report; 3. Based on my knowledge, the financial statements, and other financial information included in this quarterly 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 annual report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officer and I have indicated in this quarterly report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: 11/13/02 By: /s/ John M. Prugh John M. Prugh Chief Executive Officer Realty Parking Company, Inc. General Partner EX-99 6 cert994.txt CFO 302 CERTIFICATION/TMG Exhibit 99.4 REALTY PARKING PROPERTIES L.P. Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 I, Timothy M. Gisriel, certify that: 1. I have reviewed this quarterly report on Form 10-Q of Realty Parking Properties L.P.; 2. Based on my knowledge, this quarterly 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 annual report; 3. Based on my knowledge, the financial statements, and other financial information included in this quarterly 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 annual report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officer and I have indicated in this quarterly report whether there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: 11/12/02 By: /s/ Timothy M. Gisriel Timothy M. Gisriel Chief Financial Officer Realty Parking Company, Inc. General Partner -----END PRIVACY-ENHANCED MESSAGE-----