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CERTIFICATIONS
    
    Exhibit 31
 I, Patrick L. Beach, certify that: 1.     I have reviewed this quarterly 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 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 report; 3.     Based on my knowledge, the financial statements, and other financial
information included in this 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 report; 4.     The registrants other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13(a)-15(f) and 15d-15(f)) for the
registrant, and have: (a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, 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 report is being prepared; (b) Designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrants disclosure controls
and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, 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 financial reporting that occurred during the registrants most
recent fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrants internal control over financial reporting;
and 5.     The registrants other certifying officers and I have disclosed, based
on our most recent evaluation of internal control over financial reporting, to
the registrants auditors and the audit committee of the registrants board of
directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrant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 a significant role in the registrants internal control over
financial reporting. Date: May 14, 2004 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 and amended Rules 13a-14 and 15d-14 of the
Securities Exchange Act of 1934, which require that the wording 16




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of such
certification must appear exactly as set forth by the Rules. GP4 Asset
Acquisition, LLC is a single member limited liability company, the sole member
of which is a limited liability company of which Patrick L. Beach is the sole
and managing member. As a result, neither the Partnership or GP4 Asset
Acquisition, LLC has a board of directors or audit committee and Patrick L.
Beach is only certifying officer and is ultimately responsible for establishing
and maintaining the registrants disclosure controls 17