<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-K

(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE
    ACT OF 1934 [FEE REQUIRED]

                  For the fiscal year ended December 31, 1999

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934 [NO FEE REQUIRED]

                   For the transition period from ___ to ___

                         Commission File Number 0-18528

        INCOME GROWTH PARTNERS, LTD. X, A CALIFORNIA LIMITED PARTNERSHIP
             (Exact name of registrant as specified in its charter)

                       CALIFORNIA                              33-0294177
            (State or other jurisdiction of                  (I.R.S. Employer
              incorporation or organization)                Identification No.)

1300 Sorrento Valley Road, Suite 108, San Diego, California         92121
       (Address of principal executive offices)                   (Zip Code)

                                 (619) 457-2750
              (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:
LIMITED PARTNERSHIP INTERESTS

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
filing requirements for the past 90 days. Yes [X]  No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. [X]

APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS:

Indicate by check mark whether the Registrant has filed all documents and
reports required to be filed by Section 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes [X] No [ ]


<PAGE>   2
                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                            PAGE
                                                                                            ----
<S>            <C>                                                                          <C>
PART I

Item 1.        Business......................................................................1

Item 2.        Properties....................................................................2

Item 3.        Legal Proceedings.............................................................3

Item 4.        Submission of Matters to a Vote of Security Holders...........................3

PART II

Item 5.        Market for the Registrant's Units and Related Security Holder Matters.........3

Item 6.        Selected Consolidated Financial Data..........................................4

Item 7.        Management's Discussion and Analysis of Financial Condition
               and Results of Operations.....................................................4

Item 8.        Financial Statements and Supplementary Data...................................7

Item 9.        Disagreements on Accounting and Financial Disclosures.........................7

PART III

Item 10.       Directors and Executive Officers of the Registrant............................7

Item 11.       Executive Compensation........................................................8

Item 12.       Security Ownership of Certain Beneficial Owners and Management................8

Item 13.       Certain Relationships and Related Transactions................................8

PART IV

Item 14.       Exhibits, Financial Statement Schedule and Reports on Form 8-K................9

Signatures     .............................................................................11
</TABLE>
<PAGE>   3
                                     PART I

ITEM 1. BUSINESS

GENERAL

Income Growth Partners, Ltd. X, a California limited partnership (the "Limited
Partnership") and subsidiaries (collectively, the "Partnership"), was formed in
February 1988, to acquire, operate and hold for investment one or more parcels
of income-producing, multi-family residential real property. Currently, the
Limited Partnership operates two separate apartment complexes in Southern
California: 1) Mission Park and 2) Shadow Ridge Meadows. The limited
partnership agreement provides that the Partnership shall continue through
February 2021, unless terminated sooner.

Income Growth Management, Inc. ("IGM") is the sole general partner. The general
partner has made no cash capital contributions to date. As of December 31,
1999, there were approximately 2,039 limited partners in the Partnership.

The Partnership has no full-time employees. Employees of corporations affiliated
with the general partner perform certain administrative and other services on
behalf of the Partnership (see Item 13). The Partnership's executive offices
are located at 11300 Sorrento Valley Road, Suite 108, San Diego, California
92121 and the Partnership's telephone number is (619) 457-2750.

FINANCING STRATEGY

The Partnership seeks to minimize the cost of financing its properties and will
refinance existing loans from time to time to take advantage of prevailing
market conditions. The Mission Park and Shadow Ridge Meadows properties were
refinanced to prevailing rates during 1995 and 1997, respectively.

COMPETITIVE CONDITIONS

Changes in the national and regional economic climates, changes in local real
estate conditions such as the oversupply of apartments or a reduction in demand
for apartments, competition from single-family housing, apartment properties
and other forms of multifamily residential housing, the inability to provide
adequate maintenance and to obtain adequate insurance, increased operating
costs, changes in zoning, building, environmental, rent control and other laws
and regulations, the costs of compliance with current and future laws, changes
in real property taxes and unusual occurrences (such as earthquakes and floods)
and other factors beyond the control of the Partnership may adversely affect
the income from, and value of, the Partnership's properties.

LEASES AND INFLATION

Substantially all of the leases at the Partnership's apartment properties are
for a period of six months or less, allowing, at the time of renewal, for
adjustments in the rental rate and the opportunity to release the apartment unit
at the prevailing market rate. The short-term nature of these leases generally
serves to minimize the risk to the Partnership of the adverse effect of
inflation and the Partnership does not believe that inflation has had a
material adverse impact on its revenues.

                                       1
<PAGE>   4
ITEM 1. BUSINESS, CONTINUED

Under the Americans with Disabilities Act of 1990 (the "ADA"), all places of
public accommodation are required to meet certain federal requirements related
to access and use by disabled persons. These requirements became effective in
1992. A number of additional federal, state and local laws exist which also may
require modifications to the properties, or restrict certain further renovations
thereof, with respect to access thereto by disabled persons. For example, the
Fair Housing Amendments Act of 1988 (the "FHAA") requires apartment properties
first occupied after March 13, 1990 to be accessible to the handicapped.
Noncompliance with the ADA or the FHAA could result in an order to correct any
noncomplying feature, which could result in substantial capital expenditures.
Although management of the Partnership believes that the properties are
substantially in compliance with present requirements. If the properties are not
in compliance, the Partnership is likely to incur additional costs to comply
with the ADA and the FHAA.

During 1995, on a tax free basis, the Limited Partnership exchanged the
Mission Park property for a 99% interest in IGPX Mission Park Associates, L.P.,
a newly formed California limited partnership (the "Mission Park Subsidiary").
The Mission Park Subsidiary is separate and distinct from the Limited
Partnership having separate assets, liabilities and business operations.

During 1997, on a tax free basis, the Limited Partnership exchanged the Shadow
Ridge Meadows property for a 99% interest in IGP X Shadow Ridge Meadows, Ltd.,
a newly formed California limited partnership (the "Shadow Ridge Meadows
Subsidiary"). The Shadow Ridge Meadows Subsidiary is also separate and distinct
from the Limited Partnership, having separate assets, liabilities and business
operations.

Formation of the Mission Park Subsidiary and the Shadow Ridge Subsidiary had no
impact on the Partnership's overall financial condition, results of operations,
allocation of net income/loss, cash distributions or Partnership assets.

ITEM 2. PROPERTIES

The Partnership, through its subsidiaries, presently owns two properties, as
follows:

     MISSION PARK:

     Date of purchase: August 1989

     Purchase price: $17,100,000

     Property Description: A 264-unit apartment complex located in San Marcos,
     California. The property includes two full-size recreation rooms, two
     heated swimming pools and spas, night-lighted tennis courts, a satellite
     cable TV system and covered parking. The building is approximately ten
     years old. The property contains 215,292 square feet.

     SHADOW RIDGE MEADOWS:

     Date of purchase: November 1988

     Purchase price: $12,700,000

     Property Description: A 184-unit apartment complex located in Vista,
     California. The property includes a large recreation center, a heated
     swimming pool and spa, five laundry facilities, a satellite cable TV
     system and covered parking. The building is approximately twelve years
     old. The property contains 127,197 square feet.

                                       2
<PAGE>   5

ITEM 3. LEGAL PROCEEDINGS

The Partnership is not a party to any legal proceedings other than various
claims and lawsuits arising in the normal course of its business which, in the
opinion of the Partnership's management, are not individually or in the
aggregate material to its business.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     None

                                    PART II

ITEM 5. MARKET FOR REGISTRANT'S UNITS AND RELATED SECURITY HOLDER MATTERS

(a)  Market Information

     As of December 31, 1999, the outstanding securities of the Partnership
     included the Original Units and Class A Units held by the limited
     partners. The Partnership's Amended and Restated Agreement of Partnership
     substantially restricts transfers of all units and no public trading
     market for the units exists or is intended or expected to develop.

(b)  Holders

     As of December 31, 1999, the Partnership's 18,826.5 outstanding Original
     Units and 8,100 Class A Units were held by an aggregate of 2,039 Limited
     Partners.

(c)  Dividends

     As a limited partnership, the Partnership does not pay dividends.

     The amended partnership agreement provides that any distributions of cash
     from operations will be made in the following order of priority:

     First, each Class A Unit receives a 12% cumulative noncompounded annual
     return on the balance of actual funds invested in Class A Units. Second,
     each Class A Unit receives a total return of original invested capital.
     Third, each Class A Unit receives a $500 bonus. Fourth, each Original Unit
     holder receives a 10% noncumulative return on the adjusted balance of
     original invested capital. Thereafter, 90% of distributions on cash from
     operations will be made to the Original Unit holders and 10% to the
     general partner. Fifth, each Original Unit holder receives a 10%
     cumulative return on the adjusted balance of original invested capital
     (the "Preferred Return"). Thereafter, 85% of distributions of cash from
     operations will be made to the Original Unit holders and 15% to the
     general partner.

     The Partnership distributed approximately $513,667 during 1999.

     Cash distributions are determined at the discretion of the general
     partner. Any future distributions are largely dependent on future income,
     expenses, debt service and operating reserves and there can be no assurance
     that future distributions will be paid.


                                       3
<PAGE>   6
ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA

The following selected consolidated financial data should be read in conjunction
with the audited consolidated financial statements and the related notes
described in Item 8 herein:

<TABLE>
<CAPTION>
                                                        1999            1998            1997            1996            1995
<S>                                                     <C>             <C>             <C>             <C>             <C>
Total assets.......................................     $19,818,470     $20,513,980     $21,225,719     $21,476,918     $22,153,868
Long-term obligations..............................      19,382,900      19,579,523      19,765,202      19,788,869      19,966,935
Total revenue......................................       4,485,956       4,148,324       3,791,975       3,576,981       3,896,384
Total expenses.....................................      (4,495,990)     (4,331,753)     (4,163,361)     (4,063,509)     (4,584,674)
Income (loss) before extraordinary item:...........          22,932        (183,429)       (371,386)       (486,528)      3,757,729
Extraordinary item:................................              --              --              --              --       4,446,019
Net income (loss)..................................          22,932        (183,429)       (371,386)       (486,528)      3,757,729
Net income (loss) per partnership unit before
  extraordinary gain...............................            0.85           (6.81)         (13.79)         (18.06)         (28.48)
Extraordinary gain per partnership unit............              --              --               --             --          184.01
Net income (loss) per partnership unit.............            0.85           (6.81)         (13.79)         (18.06)         155.53
Weighted average limited partnership units.........          26,926          26,926          26,926          26,926          24,161

</TABLE>

There had been no cash distributions to partners up until December 31, 1997. The
Partnership distributed approximately $514,000 and $322,000 during 1999 and
1998, respectively.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS:

The following Management's Discussion and Analysis of Financial Condition and
Results of Operations should be read in conjunction with the financial
statements and notes thereto filed herewith. Historical results and percentage
relationships set forth in the consolidated statement of operations in the
financial statements, including trends which might appear, should not be taken
as indicative of future operations.

Statements contained in this report that are not purely historical are
forward-looking statements including statements regarding the Partnership's
expectations, intentions, beliefs or strategies regarding the future. All
forward-looking statements included in this report are based upon the
information available to the Partnership on the date thereof, and the
Partnership assumes no obligation to update any such forward-looking statements.
It is important to note that the Partnership's actual results could differ
materially from those in such forward-looking statements.

(a)   Liquidity and Capital Resources

      In January 1994, the Limited Partnership filed a voluntary petition for
      relief under Chapter 11 of the federal bankruptcy laws in the United
      States Bankruptcy Court for the Southern District of California.

      Under the provisions of the Plan of Reorganization (the "Plan"), the
      Limited Partnership was allowed to retain ownership of the Mission Park
      and Shadow Ridge Meadows properties. Despite $2,025,000 in additional
      capital from existing investors in the form of Class A Units, the Limited
      Partnership was unable to raise the necessary capital to retain ownership
      of its third property, Margarita Summit.

      The Limited Partnership emerged from Chapter 11 effective in May 1995
      having fully satisfied all claims in accordance with the Plan.

      Prior to 1996, the Partnership's operating and debt service obligations
      have been financed through the sale of Partnership Units, cash provided by
      operating activities, and 1995 debt restructuring activities. During 1996
      through 1999, all of the Partnership's operating and debt service cash
      requirements have been met through cash generated from operations.

                                       4

<PAGE>   7
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS, CONTINUED:

        COMPARISON OF YEAR ENDED DECEMBER 31, 1999 TO THE YEAR ENDED DECEMBER
        31, 1998.

        Net cash provided by operating activities for the year ended December
        31, 1999 was $871,000 compared to $871,000 for the same period in 1998.

        Net cash used in investing activities for the year ended December 31,
        1999 was $144,000 compared to $156,000 for the same period in 1998. The
        decrease in cash used in investing activities was due primarily to
        decreases in property improvements as compared to the prior year.

        Net cash used in financing activities for the year ended December 31,
        1999 was $734,000 compared to $555,000 for the same period in 1998. The
        increase was primarily due to an increase of approximately $192,000 in
        distributions paid during 1999, an increase of principal payments under
        mortgage debt of approximately $11,000 and a decrease in principal
        payments to affiliate of approximately $36,000.

        COMPARISON OF YEAR ENDED DECEMBER 31, 1998 TO THE YEAR ENDED DECEMBER
        31, 1997.

        Net cash provided by operating activities for the year ended December
        31, 1998 was $871,000 compared to $594,000 for the same period in 1997.
        The principal reason for this difference was a decrease in net loss of
        approximately $188,000, a decrease in prepaid expenses and other assets
        and an increase in accounts payable resulting from the timing of
        payments.

        Net cash used in investing activities for the year ended December 31,
        1998 was $156,000 compared to $252,000 for the same period in 1997. The
        decrease in cash used in investing activities is due primarily to
        decreases in property improvements as compared to the prior year.

        Net cash used in financing activities for the year ended December 31,
        1998 was $555,000 compared to $305,000 for the same period in 1997. The
        increase was primarily due to an increase in the principal payments
        under mortgage debt of approximately $162,000, distributions paid of
        approximately $322,000 during 1998, the decrease of loan fees of
        approximately $338,000 from the refinance of the Shadow Ridge Meadows
        Property in 1997, and a decrease in the proceeds received from an
        affiliate of approximately $62,000.


                                       5

<PAGE>   8


ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS, CONTINUED:

(b) Results of Operations

    COMPARISON OF YEAR ENDED DECEMBER 31, 1999 TO THE YEAR ENDED DECEMBER 31,
    1998.

    Rental revenue for the year ended December 31, 1999 was $4,304,000, an
    increase of 9% over rents of $3,944,000 in the comparable period in 1998.
    The increase is primarily attributable to an increase in monthly tenant
    rental rates.

    Interest expense for the year ended December 31, 1999 was $1,464,000, a
    2% decrease from interest expense of $1,489,000 in the comparable
    period in 1998.

    Operating expense of the year ended December 31, 1999 was $2,072,000, an
    increase of 7% over operating expense of $1,929,000 in the comparable period
    in 1998. The increase is attributable to higher expenses related to the
    increase in rental revenue.

    Depreciation expense for the year ended December 31, 1999 was $928,000, an
    increase of 2% over depreciation expense of $914,000 in the comparable
    period in 1998. The increase is primarily attributable to consistent yearly
    increases in total capitalized fixed asset expenditures.

    COMPARISON OF YEAR ENDED DECEMBER 31, 1998 TO THE YEAR ENDED DECEMBER 31,
    1997.

    Rental revenue for the year ended December 31, 1998 was $3,944,000, an
    increase of 8% over rents of $3,656,000 in the comparable period in 1997.
    The increase is primarily attributable to an increase in monthly tenant
    rental rates.

    Interest expense for the year ended December 31, 1998 was $1,489,000, a
    decrease of 4% over interest expense of $1,544,000 in the comparable period
    in 1997. The decrease is primarily attributable to the  refinancing on the
    Shadow Ridge Meadows Property, as well as the increase in the principal
    payments on the existing mortgage loans. The increase is also attributable
    to amortization of loan fees related to the refinancing of the Shadow Ridge
    Meadows Property.

    Operating expense for the year ended December 31, 1998 was $1,929,000, an
    increase of 8% over operating expense of $1,782,000 in the comparable period
    in 1997. The increase is attributable to higher expenses related to the
    increase in rental revenue.

    Depreciation expense for the year ended December 31, 1998 was $914,000, an
    increase of 9% over depreciation expense of $837,000 in the comparable
    period in 1997. The increase is primarily attributable to consistent yearly
    increases in total capitalized fixed asset expenditures.

(c) Year 2000

    The Partnership is currently not aware of any Year 2000 problems in any of
    its critical systems or with any of its significant vendors. However, the
    success to date of its Year 2000 efforts cannot guarantee that a Year 2000
    problem affecting third parties upon which it relies will not become
    apparent in the future. The following disclosure is a Year 2000 readiness
    disclosure statement under the Year 2000 Readiness and Disclosure Act.

    The Partnership's Year 2000 readiness program was designed to minimize the
    possibility of serious Year 2000 interruptions. The Partnership began
    assessment of the Partnership's software applications and hardware early in
    1999. Throughout 1999, the partnership implemented a Year 2000 readiness
    program which was completed in December 1999. The Year 2000 readiness
    program consisted mainly of an acceleration of scheduled upgrades of
    computer hardware for the Partnership's properties and the corresponding
    upgrades of the computer operating system. The total cost of the
    Partnership's Year 2000 readiness program was approximately $10,000.

                                       6
<PAGE>   9
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The consolidated financial statements and supplementary data required by this
item are set forth at the pages indicated in Item 14(a).

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
        FINANCIAL DISCLOSURE

     None


                                    PART III

ITEM 10. GENERAL PARTNER AND EXECUTIVE OFFICERS OF THE PARTNERSHIP

     The general partner of the Partnership is Income Growth Management, Inc.
     ("IGM"), a California corporation. The executive officers of IGM do not
     receive compensation from the Partnership.

     The names, ages and positions of responsibility held by the executive
     officers and directors of IGM are as follows:

     <TABLE>
     <CAPTION>
         NAME                AGE                 POSITION
         ----                ---                 --------
     <S>                     <C>          <C>
     David Maurer             47          President and Director
     Timothy Maurer           50          Secretary and Director
     Robert Green             42          Vice President of Operations and Director
     </TABLE>

     FAMILY RELATIONSHIPS

     David Maurer and Timothy Maurer are brothers.

     BUSINESS EXPERIENCE

     The following is a brief background of the directors and executive officers
     of IGM:

     DAVID MAURER has served as President and Director of IGM since 1992, and as
     President and Director of ENA Corporation ("ENA"), an affiliate of IGM,
     since 1979. He has been involved in real estate syndication and property
     management since 1980, and in real estate development and construction
     since 1974. David was educated at the University of California, San Diego
     (B.A. 1974).

     TIMOTHY MAURER has served as Chief Financial Officer, Secretary and
     Director of IGM since 1979. He has been involved in real estate
     syndication, development, design and construction since 1975. Timothy was
     educated at the California College of Arts and Crafts, Oakland (B.F.A.
     1972).

     ROBERT GREEN has served as Vice President of Operations and Director since
     1988. He has also been the Director of Property Management of ENA since
     1988. He has been directly involved in property management since 1980.
     Robert worked for four years with Coldwell Banker Real Estate Management
     Services in San Diego managing both commercial and residential property. He
     also worked for four years with C&R Realty Company managing over 75
     residential properties in Oregon and Washington. Robert was educated at
     Pacific University in Forest Grove, Oregon (B.A. 1980).


                                       7



<PAGE>   10
ITEM 11. EXECUTIVE COMPENSATION

        The Partnership has no executive officers and has not paid nor proposes
        to pay any compensation or retirement benefits to the directors or
        executive officers of Income Growth Management, Inc., the general
        partner. See Item 13 for compensation to the general partner.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

(a) Security Ownership of Certain Beneficial Owners

<TABLE>
<CAPTION>
                             NAME AND ADDRESS OF       AMOUNT AND NATURE OF       PERCENT
        TITLE OF CLASS        BENEFICIAL OWNER         BENEFICIAL OWNERSHIP       OF CLASS
        --------------       -------------------       --------------------       --------
        <S>                <C>                         <C>                        <C>
        Class A Units      John W. Baer                     609.0000                7.5%
                           1091 Valley View Court
                           Los Altos, CA 94024
</TABLE>

        No other person or group is known by the Partnership to own beneficially
        more than 5% of the outstanding Original Units or Class A Units.

(b) Security Ownership of Management

        None of the officers and directors of the Partnership's corporate
        general partners are the beneficial owners of any Original Units or
        Class A Units.


ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

        The Partnership is entitled to engage in various transactions involving
        its general partners and its affiliates as described in the Partnership
        Agreement.

        The table below reflects amounts paid to the general partner or its
        affiliates during the following years:

<TABLE>
<CAPTION>
                                      1999          1998         1997
                                      ----          ----         ----
<S>                                 <C>           <C>          <C>
Management fees                     $226,000      $207,300     $179,000
Administrative fees                  130,000        99,000      113,000
Loan origination fees                      -        10,000       97,500
</TABLE>




                                       8
<PAGE>   11
                                    PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

(a)  Documents filed as part of this report:

     (1)  Financial Statements

          The following financial statements of the Partnership and related
          notes to financial statements and accountants' report are filed
          herewith:

               Report of Independent Accountants

               Consolidated Balance Sheets as of December 31, 1999 and 1998

               Consolidated Statements of Operations for the years ended
               December 31, 1999, 1998 and 1997

               Consolidated Statements of Partners' Capital (Deficit) for the
               years ended December 31, 1999, 1998 and 1997

               Consolidated Statements of Cash Flows for the years ended
               December 31, 1999, 1998 and 1997

               Notes to Consolidated Financial Statements

     (2)  Financial Statement Schedule

          Schedule III - Real Estate and Accumulated Depreciation

          All other schedules are either not required, or the information
          therein is included in the notes to the audited financial statements.

(b)   Reports on Form 8-K

     No reports on Form 8-K were filed during the last quarter of the fiscal
     year covered by the report.

(c)  Exhibits

     The following Exhibit Index lists the exhibits that are either filed as
     part of this report or incorporated herein by reference from a prior
     filing.



                                       9
<PAGE>   12
                                 EXHIBIT INDEX

<TABLE>
<CAPTION>

EXHIBIT NO.                       DESCRIPTION                          LOCATION
-----------                       -----------                          --------
<S>               <C>                                                  <C>
   2.2            Second Amended Disclosure Statement to Debtor's         (1)
                  Second Amended Plan of Reorganization, As
                  Revised (with Second Amended Plan of Reorganization
                  attached as Exhibit 1) filed with the Bankruptcy
                  Court on October 25, 1994;

                      Order Approving Second Amended Disclosure
                      Statement to Debtor's Second Amended Plan
                      of Reorganization, Approving Ballots and
                      Fixing Dates for Filing Acceptances or
                      Rejections of Plan and for Confirmation
                      Hearing, Combined with Notice Thereof;

                      Equity Interest Holder Ballot for Accepting
                      or Rejecting Debtor's Second Amended Plan
                      of Reorganization;

                      Offering Memorandum for Income Growth
                      Partners, Ltd. X Class A Units dated
                      October 27, 1994 (with Amended and
                      Restated Agreement of Limited Partnership
                      attached as Exhibit B).

   3.1                Articles of Incorporation of IGP X Mission          (2)
                      Park, Inc.

   4.2                Amended and Restated Agreement of Limited           (3)
                      Partnership

   4.3                Agreement of Limited Partnership of IGP X           (2)
                      Mission Park Associates, L.P., A California
                      Limited Partnership

   4.4                Agreement of Limited Partnership of IGP X           (2)
                      Shadow Ridge Meadows, Ltd., A California
                      Limited Partnership

  27.6                Financial Data Schedule                             (6)

  28.1                Prospectus dated January 3, 1991                    (4)

  28.4                Letter regarding resignation of General Partner     (5)

</TABLE>
------------------

(1)  Incorporated by reference from the Partnership's Quarterly Report on Form
     10-Q for the third quarter ended September 30, 1994 (Commission File
     Number 0-18528).

(2)  Incorporated by reference from the Partnership's Current Report on Form
     8-K dated December 27, 1995 (Commission File Number 0-18528).

(3)  Included as Exhibit "B" to the Partnership's Offering Memorandum for
     Income Growth Partners, Ltd. X Class A Units dated October 27, 1994,
     included in Exhibit 2.2 incorporated by reference from the Partnership's
     Quarterly Report on Form 10-Q for the third quarter ended September 30,
     1994 (Commission File Number 0-18528).


                                       10
<PAGE>   13


(4)  Incorporated by reference from the Partnership's Annual Report on
     Form 10-K for the Fiscal Year ended December 31, 1992 (Commission File
     Number 0-18528).

(5)  Incorporated by reference from the Partnership's Annual Report on Form 10-K
     for the Fiscal Year ended December 31, 1993 (Commission File Number
     0-18528).

(6)  Filed herewith.


                                   SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

Date: March 29, 2000

      INCOME GROWTH PARTNERS, LTD.
      (a California Limited Partnership)

      By:                                 Income Growth Management, Inc.
                                          General Partner



                                          By: /s/ David W. Maurer
                                              David W. Maurer, President

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
              Signatures                   Title and Capacity                Date
<S>                                  <C>                               <C>
       /S/ David W. Maurer             President                       March 29, 2000
     ----------------------------    ------------------------------    ------------------
       /S/ Timothy C. Maurer           Principal Financial Officer     March 29, 2000
     ----------------------------    ------------------------------    ------------------
</TABLE>





                                       11
<PAGE>   14










                                    APPENDIX



                              FINANCIAL STATEMENTS
<PAGE>   15
       INDEX TO CONSOLIDATED FINANCIAL STATEMENTS - ITEM 14 OF FORM 10-K

                                                                            PAGE

Report of Independent Accountants..........................................  F-2

Consolidated Financial Statements and Notes:

     Balance Sheets as of December 31, 1999 and 1998.......................  F-3

     Statements of Operations for the Years Ended
     December 31, 1999, 1998 and 1997......................................  F-4

     Statements of Partners' Capital (Deficit) for the Years Ended
     December 31, 1999, 1998 and 1997......................................  F-5

     Statements of Cash Flows for the Years Ended
     December 31, 1999, 1998 and 1997......................................  F-6

     Notes to Consolidated Financial Statements............................  F-7

     Schedule III - Real Estate and Accumulated Depreciation............... F-12


                                      F-1
<PAGE>   16
                       REPORT OF INDEPENDENT ACCOUNTANTS

To Income Growth Partners, Ltd. X and Subsidiaries

In our opinion, the consolidated financial statements listed in the
accompanying index present fairly, in all material respects, the financial
position of Income Growth Partners, Ltd. X, a California limited partnership,
and subsidiaries (collectively, the "Partnership") at December 31, 1999 and
1998 and the results of their operations and their cash flows for each of the
three years in the period ended December 31, 1999 in conformity with accounting
principles generally accepted in the United States. In addition, in our opinion,
the financial statement schedule listed in the accompanying index presents
fairly, in all material respects, the information set forth therein when read in
conjunction with the related consolidated financial statements. These financial
statements and financial statement schedule are the responsibility of the
Partnership's management; our responsibility is to express an opinion on these
financial statements and financial statement schedule based on our audits. We
conducted our audits of these statements in accordance with auditing standards
generally accepted in the United States, which require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for the
opinion expressed above.

                                                PricewaterhouseCoopers LLP

San Diego, California
March 3, 2000






                                      F-2
<PAGE>   17
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 1999 AND 1998
________________________________________________________________________________



<TABLE>
<CAPTION>
                                                1999                1998
                                             -----------         ------------
<S>                                          <C>                 <C>
ASSETS

Rental properties
 Land                                        $ 7,078,365         $ 7,078,365
 Buildings and improvements                   21,907,461          21,763,241
                                             -----------         -----------
                                              28,985,826          28,841,606
 Less accumulated depreciation               (10,316,949)         (9,445,320)
                                             -----------         -----------
                                              18,668,877          19,396,286
Cash and cash equivalents                        434,712             441,909
Deferred loan fees, net of accumulated
 amortization of $188,166 and
 $132,140, respectively                          589,017             645,044
Prepaids and other assets                        125,864              30,742
                                             -----------         -----------
    Total assets                             $19,818,470         $20,513,981
                                             ===========         ===========

LIABILITIES AND PARTNERS' CAPITAL

Mortgage loans payable                       $19,382,900         $19,579,523

Other liabilities:
 Loan payable to affiliates                       48,540              72,640
 Accounts payable and accrued liabilities        172,559             170,177
 Accrued interest payable                        120,684             125,699
 Security deposits                               217,757             199,177
                                             -----------         -----------
                                              19,942,440          20,147,216
Commitments and contingencies

Partners' (deficit)/capital                     (113,970)            376,765
Note receivable from general partner             (10,000)            (10,000)
                                             -----------         -----------
    Total liabilities and partners'
     capital                                 $19,818,470         $20,513,981
                                             ===========         ===========

</TABLE>

   The accompanying notes are an integral part of these financial statements.



                                      F-3

<PAGE>   18
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
________________________________________________________________________________

<TABLE>
<CAPTION>

                                      1999           1998           1997
                                   ----------     ----------     ----------
<S>                               <C>            <C>            <C>
REVENUES
 Rents                             $4,303,557     $3,943,519     $3,655,595
 Interest                               7,175          6,710          8,925
 Other                                175,224        198,095        127,455
                                   ----------     ----------     ----------
    Total revenues                  4,485,956      4,148,324      3,791,975
                                   ----------     ----------     ----------
EXPENSES
 Operating expenses                 2,071,793      1,928,765      1,782,364
 Depreciation and amortization        927,654        914,095        836,962
 Interest                           1,463,577      1,488,893      1,544,035
                                   ----------     ----------     ----------
    Total expenses                  4,463,024      4,331,753      4,163,361
                                   ----------     ----------     ----------
Net income/(loss)                  $   22,932     $ (183,429)    $ (371,386)
                                   ==========     ==========     ==========

BASIC AND DILUTED PER LIMITED
 PARTNERSHIP UNIT DATA
 Net income/(loss)                 $     0.85     $    (6.81)    $   (13.79)
                                   ==========     ==========     ==========
Weighted average limited
 partnership units                     26,926         26,926         26,926
                                   ==========     ==========     ==========
</TABLE>




   The accompanying notes are an integral part of these financial statements.


                                      F-4

<PAGE>   19

INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
CONSOLIDATED STATEMENTS OF PARTNERS' CAPITAL
FOR THE YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
________________________________________________________________________________

<TABLE>
<CAPTION>
                                             LIMITED PARTNERS
                                           --------------------
                               GENERAL     ORIGINAL     CLASS A
                               PARTNER     PARTNERS     PARTNERS        TOTAL
                               -------     --------     --------        -----
<S>                           <C>            <C>       <C>            <C>
Balance, December 31, 1996    $(287,663)     $  --     $1,541,192     $1,253,529

Net loss                        (55,708)        --       (315,678)      (371,386)
                              ---------      -----     ----------     ----------
Balance, December 31, 1997     (343,371)        --      1,225,514        882,143

Distributions                        --         --       (321,949)      (321,949)

Net loss                        (27,514)        --       (155,915)      (183,429)
                              ---------      -----     ----------     ----------
Balance, December 31, 1998     (370,885)        --        747,650        376,765

Distributions                         --        --       (513,667)      (513,667)

Net income                         3,440        --         19,492         22,932
                              ----------     -----     ----------      ----------
Balance, December 31, 1999    $(367,445)     $  --     $  253,475      $(113,970)
                              =========      =====     ==========      =========
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-5



<PAGE>   20
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
________________________________________________________________________________

<TABLE>
<CAPTION>
                                                           1999            1998             1997
                                                        ----------      ----------       ----------
<S>                                                     <C>             <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                     $   22,932      $ (183,429)      $ (371,386)
  Adjustments to reconcile net loss to net cash
    provided by operating activities
      Depreciation                                         871,628         862,828          836,961
      Amortization of loan fees                             56,026          51,267           20,103
      Decrease (increase) in prepaid expenses
        and other assets                                   (95,122)        120,439           22,454
      Increase (decrease) in
        Accounts payable and accrued liabilities             2,382          21,676           67,028
        Security deposits                                   18,580          (2,073)          16,895
        Accrued interest payable                            (5,015)             76            2,231
                                                        ----------      ----------       ----------
          Net cash provided by operating activities        871,411         870,784          594,286
                                                        ----------      ----------       ----------
CASH FLOWS FROM INVESTING ACTIVITIES
  Capital expenditures                                    (144,218)       (156,164)        (252,031)
                                                        ----------      ----------       ----------
          Net cash used in investing activities           (144,218)       (156,164)        (252,031)
                                                        ----------      ----------       ----------
CASH FLOWS FROM FINANCING ACTIVITIES
  Principal payments under mortgage debt                  (196,623)       (185,679)         (23,667)
  Loan fees and refinancing costs                                -          (7,016)        (338,577)
  Principal payments to affiliate                          (24,100)        (50,360)         (14,800)
  Proceeds from affiliate loan                                   -          10,000           72,500
  Distributions                                           (513,667)       (321,949)               -
                                                        ----------      ----------       ----------
          Net cash used by financing activities           (734,390)       (555,004)        (304,544)
                                                        ----------      ----------       ----------
          Net (decrease)/increase in cash and cash
          equivalents                                       (7,197)        159,616           37,711
Cash and cash equivalents at beginning of year             441,909         282,293          244,582
                                                        ----------      ----------       ----------
          Cash and cash equivalents at end of year      $  434,712      $  441,909       $  282,293
                                                        ==========      ==========       ==========
SUPPLEMENTAL CASH FLOWS INFORMATION
  Cash paid for interest                                $1,463,577      $1,448,893       $1,337,417
                                                        ==========      ==========       ==========
</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-6
<PAGE>   21
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 1999 AND 1998
________________________________________________________________________________

1.   DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

     Income Growth Partners, Ltd. X, a California limited partnership (the
     "Limited Partnership"), and subsidiaries (collectively, the "Partnership")
     was formed in February 1988, to acquire, operate and hold for investment
     one or more parcels of income-producing, multi-family residential real
     property. Currently, the Partnership owns a 264 unit building in San
     Marcos, California ("Mission Park") and a 184 unit building in Vista,
     California ("Shadow Ridge Meadows").

     Income Growth Management, Inc. is the sole general partner. The general
     partner has made no cash contributions to date. As of December 31, 1999,
     there were approximately 2,039 limited partners in the Partnership.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     PRINCIPLES OF CONSOLIDATION
     The consolidated financial statements include the accounts of the Limited
     Partnership and its subsidiaries. Subsidiaries consist primary of
     California limited partnerships formed to hold and operate the
     Partnership's properties. All significant intercompany balances and
     transactions have been eliminated.

     CASH AND CASH EQUIVALENTS
     Cash and cash equivalents consists of cash and short-term investments with
     original maturities at the date of purchase of 90 days or less.

     LAND, BUILDINGS AND IMPROVEMENTS
     Land, buildings and improvements are recorded at cost. Buildings and
     improvements are depreciated using the straight-line method over the
     estimated useful lives of 27.5 and 5 to 15 years, respectively.

     Expenditures for maintenance and repairs are charged to expense as
     incurred. Significant renovations and capitalized and depreciated over the
     remaining life of the property.

     The Partnership assesses its property for impairment whenever events or
     changes in circumstances indicate that the carrying amount of the property
     may not be recoverable. Recoverability of property to be held and used is
     measured by a comparison of the carrying amount of the property to future
     undiscounted net cash flows expected to be generated by the property. If
     the property is considered to be impaired, the impairment to be recognized
     is measured by the amount by which the carrying amount of the property
     exceeds the fair value of the property.

     The cost and related accumulated depreciation of real estate are removed
     from the accounts upon disposition. Gains and losses arising from the
     dispositions are reported as income or expense.

     DEFERRED LOAN FEES
     Deferred loan fees represent expenses incurred in obtaining the
     Partnership's mortgage loans payable. These fees are being amortized to
     interest expense over the initial term of the loan using the straight-line
     method which approximates the effective interest method.

     REVENUE RECOGNITION
     Rental revenues are recognized at the beginning of each month based on the
     current occupancy of the apartments. Tenant leases are generally for a term
     of six months with an option to renew for an additional six months or to
     rent on a month-to-month basis.


                                      F-7










<PAGE>   22
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 1999 AND 1998
________________________________________________________________________________

     ADVERTISING COSTS

     Advertising costs are expensed as incurred. Total advertising expense was
     approximately $70,000, $58,000 and $52,000 for the years ended December
     31, 1999, 1998 and 1997, respectively.

     INCOME TAXES

     No provision has been made for federal or state income taxes on the
     operations of the Partnership. Such taxes are imposed on the individual
     partners for their respective shares of Partnership income or loss. The
     tax returns and amounts of allocable Partnership income or loss of the
     Partnership are subject to examination by federal and state taxing
     authorities. If such examinations result in a change in the Partnership
     status, or in changes to allocable Partnership income or loss, the tax
     liability of the Partnership or of the partners could be changed
     accordingly.

     USE OF ESTIMATES

     The preparation of financial statements in conformity with accounting
     principles generally accepted in the United States requires management to
     make estimates and assumptions that affect the reported amounts of assets
     and liabilities and disclosure of contingent assets and liabilities at the
     date of financial statements, and the reported amounts of revenue and
     expense during the reporting period. Actual results could differ from
     estimates.

     RECLASSIFICATIONS

     Certain prior year amounts have been reclassified to conform with the
     current year presentation.

     COMPREHENSIVE INCOME

     Other comprehensive income refers to changes in capital (net assets) which
     do not result from investment by partners or distributions to partners.
     Other comprehensive income consists of revenues, expenses, gains and
     losses that, under accounting principles generally accepted in the United
     States, are included in comprehensive income but are excluded from net
     income as these amounts are recorded directly as an adjustment to
     partners' capital. For the periods ending December 31, 1999, 1998 and
     1997, the Company's comprehensive income was equal to the Company's net
     income.

     RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

     There are no recently issued pronouncements for which the Partnership
     expects a material impact on the Partnership's results of operations.

     DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

          CASH AND SHORT-TERM INVESTMENTS: The carrying amount approximates fair
          value because of the short maturity of those instruments.

          LONG-TERM DEBT: The fair value of the Partnership's long-term debt is
          estimated based on the quoted market prices for the same or similar
          issues or on the current rates offered to the Partnership for debt of
          the same remaining maturities. The carrying values of the mortgage
          loans on both the Mission Park and Shadow Ridge Meadows properties
          approximates their respective fair values.

3.   CONCENTRATION OF CREDIT RISK

     UNINSURED CASH

     The Partnership maintains cash accounts which may exceed FDIC insured
     levels at one financial institution. All of the Partnership's cash
     equivalents are held in a U.S. Treasury Money Fund which

                                      F-8

<PAGE>   23
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 1999 AND 1998
________________________________________________________________________________


     invests in short-term U.S. Treasury securities. The Partnership has not
     experienced any losses to date on its cash or cash equivalents.

     NATURE OF BUSINESS

     Changes in the national and regional economic climates, changes in local
     real estate conditions, such as the oversupply of apartments or reduction
     in demands for apartments, competition from single-family housing,
     apartment properties and other forms of multifamily residential housing,
     the inability to provide adequate maintenance and to obtain adequate
     insurance, increased operating costs, changes in zoning, building,
     environmental, rent control and other laws and regulations, the costs of
     compliance with current and future laws, changes in real property taxes
     and unusual occurrences (such as earthquakes and floods) and other factors
     beyond the control of the Partnership may adversely affect the income
     from, and value of, the Partnership's properties.

4.   ACTIVITIES OF THE PARTNERSHIP

     The general partner or its affiliates manage and control the affairs of
     the Partnership and have general responsibility for supervising the
     Partnership's properties and operations. The general partner and
     affiliates are compensated for these efforts as explained in Note 7.

     The original partnership agreement was amended in October 1994 and
     provides that cash distributions from operations are to be determined at
     the discretion of the general partner. After adequate working capital
     reserves have been met, cash distributions deemed appropriate by the
     general partner will be made as set forth, therein.

     DISTRIBUTION OF CASH FROM OPERATIONS

     The amended partnership agreement provides that any distributions of cash
     from operations will be made in the following order of priority:

          First, each Class A Unit receives a 12% cumulative noncompounded
          annual return on the balance of actual funds invested in Class A
          Units. Second, each Class A Unit receives a total return of original
          invested capital. Third, each Class A Unit receives a $500 bonus.
          Fourth, each Original Unit holder receives a 10% noncumulative return
          on the adjusted balance of original invested capital. Thereafter, 90%
          of distributions on cash from operations will be made to the Original
          Unit holders and 10% to the general partner.

     Distributions of $513,667 and $321,949 were made during 1999 and 1998,
     respectively.

     DISTRIBUTION OF CASH FROM SALE OR REFINANCING

     The amended partnership agreement provides that any distributions of sale
     or refinancing will be made in the following order of priority:

          First, each Class A Unit receives a 12% cumulative noncompounded
          annual return on the balance of actual funds invested in Class A
          Units. Second, each Class A Unit receives a total return of original
          invested capital. Third, each Class A Unit receives a $500 bonus.
          Fourth, each Original Unit holder receives an amount equal to the
          adjusted balance of original invested capital. Fifth, each Original
          Unit holder receives a 10% cumulative return on the adjusted balance
          of original invested capital (the "Preferred Return"). Thereafter,
          85% of distributions of cash from operations will be made to the
          Original Unit holders and 15% to the general partner.

                                      F-9
<PAGE>   24

INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 1999 AND 1998
________________________________________________________________________________

     ALLOCATION OF NET INCOME/LOSS

     Net losses are allocated 85% to the limited partners and 15% to the
     general partner. Losses in excess of the limited partners' capital
     balances are allocated 100% to the general partner. Net income will be
     allocated 100% to the general partner until the aggregate net income
     allocated is equal to the aggregate net losses allocated to the general
     partner in all previous years. The balance of net income after the initial
     allocation to the general partner, shall be allocated 85% to the limited
     partners and 15% to the general partner.

6.   MORTGAGE LOANS AND LOAN PAYABLE TO AFFILIATE

     At December 31, 1999 and 1998, mortgage loans and loan payable to
     affiliate consisted of the following:

<TABLE>
<CAPTION>
                                                               1999          1998
                                                            -----------   -----------
<S>                                                          <C>           <C>

Mission Park - Note dated December 27, 1995,
collateralized by first trust deed on land and buildings
and a guarantee by officers of the general partner,
interest and principal of $73,144 payable monthly based on
7.76% fixed annual interest rate, amortized over 30 years,
balloon payment of approximately $8,918,000 due in
January 2006.                                                $9,806,865    $9,917,901

Shadow Ridge Meadows - Note dated October 27, 1997,
collateralized by first trust deed on land and buildings,
interest and principal of $68,106 payable monthly based on
7.49% fixed annual interest rate, amortized over 30 years,
balloon payment of approximately $8,475,000 due in
November 2007.                                                9,576,035     9,661,662
                                                            -----------   -----------
                                                             19,382,900    19,579,523

Notes payable to ENA, affiliate of general partner -
promissory note dated December 27, 1995, with simple
interest and principal payable from time to time at the
published prime rate, stated as 8.5% at December 31, 1997,
and due upon demand                                              24,593        28,593

Note payable to Income Growth Property Management,
affiliate of the general partner - promissory note dated
October 23, 1997, with simple interest and principal
payable from time to time at the published prime rate,
stated as 8.5% at December 31, 1997, and due upon demand         23,947        44,047
                                                            -----------   -----------
                                                            $19,431,440   $19,652,163
                                                            ===========   ===========
</TABLE>

     Future minimum annual principal payments are summarized as follows:

<TABLE>
               <S>                           <C>
               2000                          $   274,716
               2001                              244,060
               2002                              263,360
               2003                              284,186
               2004                              306,660
               Thereafter                     18,058,458
                                             -----------
                                             $19,431,440
                                             ===========
</TABLE>

                                      F-10


<PAGE>   25
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES
A CALIFORNIA LIMITED PARTNERSHIP
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 1999 AND 1998
________________________________________________________________________________


7.   RELATED PARTY TRANSACTIONS

     Following is a description of related party transactions for the three
     years ended December 31, 1999 that have not otherwise been disclosed:

     MANAGEMENT FEES
     The Partnership's properties are managed by an affiliate of the general
     partner who receives management fees.

     The fee for Mission Park is equal to 5% of the operating revenues generated
     by that property. The fee for Shadow Ridge Meadows was equal to 4% of the
     operating revenues generated by that property through October 1997 and 5%
     thereafter.

     Management fees aggregated approximately $226,000, $207,300 and $179,000 in
     1999, 1998 and 1997, respectively.

     ADMINISTRATIVE COSTS
     The Partnership has an agreement with an affiliate of the general partner
     (the "Affiliate") who furnishes certain administrative services and
     facilities to the Partnership, including accounting, data processing,
     duplication and transfer agent expenses, professional (including, but not
     limited to, regulatory reporting and legal services) and recording and
     partner communications expenses. The agreement provides for reimbursement
     to the affiliate for actual costs incurred. Reimbursements paid to the
     Affiliate under the provisions of this agreement aggregated approximately
     $130,000, $99,000 and $113,000 in 1999, 1998 and 1997, respectively.

     NOTE RECEIVABLE FROM GENERAL PARTNER
     At December 31, 1999 and 1998, a non-interest bearing note receivable of
     $10,000 was due from the general partner for their initial partnership
     capital contribution.

     DEBT PLACEMENT FEES
     During 1997 and 1995, the Partnership issued notes payable to an affiliate
     of the general partner for payment of debt placement fees of $97,500 and
     $102,000, respectively. Debt placement fees were equal to 1% of the
     principal amounts of the new third party financing. At December 31, 1999
     and 1998, the aggregate balances of these notes were $48,540 and $72,640,
     respectively (See Note 6).

     SUBORDINATED REAL ESTATE BROKERAGE COMMISSIONS

     If the general partner, or any of its affiliates, render services in
     negotiating and implementing the sale of Partnership properties, the
     general partner or such affiliates will be paid a real estate brokerage
     commission in an amount up to one-half of the commission customarily
     charged in arm's-length transactions but not in excess of 3% of the
     contract price for the property. Payment of such commission (other than
     payments in the form of promissory notes that are subordinated to the
     return of capital contributions to limited partners) shall be deferred
     until the limited partners have received distributions equal to their total
     original invested capital, plus the 10% Preferred Return described in Note
     5. No properties were sold in 1999, 1998 or 1997 and, accordingly, no
     brokerage commissions were paid by the Partnership.


                                      F-11

<PAGE>   26
INCOME GROWTH PARTNERS, LTD. X AND SUBSIDIARIES                     SCHEDULE III
A CALIFORNIA LIMITED PARTNERSHIP
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
FOR THE YEAR ENDED DECEMBER 31, 1999
________________________________________________________________________________

<TABLE>
<CAPTION>
                                                                   NET CHANGE            GROSS AMOUNT AT WHICH
                                    INITIAL COST           SUBSEQUENT TO ACQUISITION   CARRIED AT CLOSE OF PERIOD
                              ------------------------    ---------------------------  --------------------------
                                         BUILDINGS AND                 BUILDINGS AND               BUILDINGS AND
               ENCUMBRANCES   LAND        IMPROVEMENTS    LAND         IMPROVEMENTS    LAND        IMPROVEMENTS     TOTAL
               -------------  ----       -------------    ----         -------------   ----        -------------    -----
<S>            <C>            <C>         <C>             <C>          <C>             <C>         <C>              <C>
Shadow Ridge
  Meadows      $ 9,576,035    $3,294,260  $13,490,802     $(400,000)   $   227,792     $2,894,260   $13,718,594     $16,612,854

Mission Park     9,806,865     4,484,105    9,821,589      (300,000)    (1,632,722)     4,184,105     8,188,867     $12,372,972
               -----------    ----------  -----------     ---------    -----------     ----------   -----------     -----------

               $19,382,900    $7,778,365  $23,312,391     $(700,000)   $(1,404,930)    $7,078,365   $21,907,461     $28,985,826
               ===========    ==========  ===========     =========    ===========     ==========   ===========     ===========

</TABLE>



<TABLE>
<CAPTION>
                                                                                                   LIFE ON WHICH
                                                                                                   DEPRECIATION IN
               ACCUMULATED                DATE OF                        DATE                      LATEST STATEMENTS
               DEPRECIATION               CONSTRUCTION                 ACQUIRED                     IS COMPUTED
               -------------              ------------                 --------                    -----------------
<S>            <C>                        <C>                          <C>                         <C>
Shadow Ridge
  Meadows      $ 4,850,720                Jan. 1988                    Nov. 1988                      27.5 Years

Mission Park     5,466,229                May 1989                     Aug. 1989                      27.5 Years
               -----------                ----------

               $10,316,949
               ===========

</TABLE>

(a) Reconciliation of total real estate carrying value for the three years
ended December 31, 1999:

<TABLE>
<CAPTION>
                                  1999                      1998                       1997
                               -----------               -----------                -----------
<S>                            <C>                       <C>                        <C>
Balance at beginning of year   $28,841,606               $28,685,443                $28,433,411
Acquisitions                       144,220                   156,163                    252,032
                               -----------               -----------                -----------
Balance at end of year         $28,985,826               $28,841,606                $28,685,443
                               ===========               ===========                ===========

</TABLE>


(b) Reconciliation of accumulated depreciation for the three years ended
December 31, 1999:

<TABLE>
<CAPTION>
                                  1999                      1998                      1997
                               -----------              ----------                 ----------
<S>                            <C>                       <C>                       <C>
Balance at beginning of year   $9,445,320                $8,582,492                $7,745,530
Expense                           871,629                   862,828                   836,962
                               -----------              -----------                -----------

</TABLE>

                                      F-12