**Exhibit 31**
**CERTIFICATIONS**
I, Patrick L. Beach, certify that:
1. I have reviewed this annual report on Form 10-Q of Captec Franchise Capital Partners L.P.IV;
2. Based on my knowledge, this report does not contain any untrue statement of a material factor omit to state a material fact necessary to make the statements made, in light of thecircumstances under which such statements were made, not misleading with respect to the periodcovered by this report;
3. Based on my knowledge, the financial statements, and other financial information included inthis report, fairly present in all material respects the financial condition, results of operationsand cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officers and I are responsible for establishing andmaintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules13(a)-15(f) and 15d-15(f)) for the registrant, and have:
     (a) Designed such disclosure controls and procedures, or caused such disclosure controls andprocedures to be designed under our supervision, to ensure that material information relating tothe registrant, including its consolidated subsidiaries, is made known to us by others within thoseentities, particularly during the period in which this report is being prepared;
     (b) Designed such internal control over financial reporting, or caused such internal controlover financial reporting to be designed under our supervision, to provide reasonable assuranceregarding the reliability of financial reporting and the preparation of financial statements forexternal purposes in accordance with generally accepted accounting principles;
     (c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures andpresented in this report our conclusions about the effectiveness of the disclosure controls andprocedures, as of the end of the period covered by this report based on such evaluation; and
     (d) Disclosed in this report any change in the registrant’s internal control over financialreporting that occurred during the registrant’s most recent fiscal quarter that has materiallyaffected, or is reasonably likely to materially affect, the registrant’s internal control overfinancial reporting; and
5. The registrant’s other certifying officers and I have disclosed, based on our most recentevaluation of internal control over financial reporting, to the registrant’s auditors and the auditcommittee of the small registrant’s board of directors (or persons performing the equivalentfunctions):
     (a) All significant deficiencies and material weaknesses in the design or operation ofinternal control over financial reporting which are reasonably likely to adversely affect theregistrant’s ability to record, process, summarize and report financial information; and
     (b) Any fraud, whether or not material, that involves management or other employees who have asignificant role in the registrant’s internal control over financial reporting.
Date: May 13, 2005        By:                   /s/ Patrick L. Beach    Patrick L. Beach    President, GP4 Asset Acquisition, LLC    
The foregoing certification is as required by Section 302(a) of the Sarbanes-Oxley Act of 2002 andamended Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934, which require that thewording of such certification must appear exactly as set forth by the Rules. GP4 Asset Acquisition, LLC isa single member limited liability company, the sole member of which is a limited liability companyof which Patrick L. Beach is the sole and managing member. As a result, neither the Partnership orGP4 Asset Acquisition, LLC has a board of directors or audit committee and Patrick L. Beach is theonly certifying officer and is ultimately responsible for establishing and maintaining theregistrant’s disclosure controls.