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COMMITMENTS AND CONTINGENCIES | 9 Months Ended
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Sep. 30, 2015
COMMITMENTS AND CONTINGENCIES |
COMMITMENTS AND CONTINGENCIES | NOTE 9. COMMITMENTS AND CONTINGENCIES From time to time, the Partnership is involved in various ordinary routine litigation incidental to its business. The Partnership either has insurance coverage or provides for any uninsured claims when appropriate. The Partnership is not involved in any material pending legal proceedings. On June 9, 2015, a fire broke out at 12 Westgate Drive apartment complex in Woburn, M A, resulting in approximately 10 apartments being damaged which will remain unoccupied for an extended period. The Partnership has insurance coverage on both repairs and rental loss for the extended period until the apartments are available for rent, and has received approximately $591,000 from the insurance company to date, leaving a n estimated insurance recovery receivable of approximately $361,000 at September 30, 2015, which is included in the insurance recovery receivable of $412,502 on the balance sheet.

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