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CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2012 | Dec. 31, 2011
--- | --- | ---
ASSETS |  |
Rental Properties | $ 96,137,618 | $ 98,924,534
Cash and Cash Equivalents | 5,322,287 | 4,050,157
Rents Receivable | 545,496 | 434,252
Real Estate Tax Escrows | 446,314 | 401,325
Prepaid Expenses and Other Assets | 3,460,422 | 3,866,652
Investments in Unconsolidated Joint Ventures | 14,786,580 | 16,780,657
Financing and Leasing Fees | 960,064 | 919,187
Total Assets | 121,658,781 | 125,376,764
LIABILITIES AND PARTNERS' CAPITAL |  |
Note Payable |  | 1,668,600
Mortgage Notes Payable | 138,335,670 | 139,161,612
Accounts Payable and Accrued Expenses | 2,143,534 | 2,253,696
Advance Rental Payments and Security Deposits | 3,604,570 | 3,603,708
Total Liabilities | 144,083,774 | 146,687,616
Commitments and Contingent Liabilities (Notes 3 and 9) |  |
Partners' Capital 130,776 and 131,484 units outstanding in 2012 and 2011 respectively | (22,424,993) | (21,310,852)
Total Liabilities and Partners' Capital | $ 121,658,781 | $ 125,376,764

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- Definition The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy. + 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) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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