PORTLAND LOFTS ASSOCIATES LIMITED PARTNERSHIP

                    FINANCIAL STATEMENTS

                    FOR THE YEARS ENDED

             DECEMBER 31, 1995, 1994 AND 1993

                        (UNAUDITED)
























         PORTLAND LOFTS ASSOCIATES LIMITED PARTNERSHIP

                      FINANCIAL STATEMENTS

      FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993

                          (UNAUDITED)

                            CONTENTS
                                                           Page



Financial Statements:

 Balance Sheets                                            F-43

 Statements of Operations                                  F-44

 Statements of Partners' Equity                            F-45

 Statements of Cash Flows                                  F-46

 Notes to Financial Statements                             F-47

 Financial Statement Schedule:

 Schedule III - Real Estate and Accumulated
               Depreciation                                F-56






            PORTLAND LOFTS ASSOCIATES LIMITED PARTNERSHIP

                            BALANCE SHEETS

                      DECEMBER 31, 1995 AND 1994

                             (UNAUDITED)



                                ASSETS

                                                 1995         1994

Real estate, at cost
Land                                         $   899,526      899,526
  Buildings and improvements                  10,762,100   10,702,100

                                              11,661,626   11,601,626
  Less accumulated depreciation                1,608,170    1,315,808

                                              10,053,456   10,285,818

Cash                                              22,816       10,628
Tenant improvement escrow                              -       60,265
Rents and other receivables                       11,732       15,368
Deferred financing fees (1995, $6,543;
  1994, $2,479) net of amortization                1,127        2,029
Other assets                                       8,065       24,153

                                             $10,097,196  $10,398,261


                   LIABILITIES AND PARTNERS' EQUITY

Liabilities:
  Mortgage note payable                      $ 6,547,037  $ 6,621,940
  Notes payable                                  973,772      977,285
  Accounts payable and accrued liabilities        57,685       39,219
  Interest payable                                56,116       56,014
  Payable to:
   Construction contractor                         1,105        1,105
   Related party                                   2,267        2,267
  Tenant security deposits                         9,125        8,925

          Total liabilities                    7,647,107    7,706,755

Partners' equity                               2,450,089    2,691,506

                                             $10,097,196  $10,398,261

            PORTLAND LOFTS ASSOCIATES LIMITED PARTNERSHIP

                       STATEMENTS OF OPERATIONS

         FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993

                             (UNAUDITED)



                                      1995         1994        1993

Revenues:
  Rental income                  $ 1,072,709   $1,003,123  $ 905,571
  Interest and other income           42,548       56,760     72,477


    Total revenues                 1,115,257    1,059,883     978,048

Expenses:
  Depreciation and amortization      298,914     297,337     299,753
  Administrative and operating       254,627     202,356     182,924
  Marketing                           17,823      22,980      16,070
  Utilities                           47,694      48,871      44,943
  Taxes and insurance                 61,978     130,758      44,322

    Total expenses                   681,036     702,302     588,012

Income from operations               434,221     357,581     390,036


Interest expense                     675,638     562,058     460,849

Net loss before
 extraordinary item                 (241,417)   (204,477)    (70,813)

Extraordinary item - Gain on
 settlement of liability                    -     57,130            -

Net loss                         $  (241,417) $ (147,347)   $ (70,813)












            PORTLAND LOFTS ASSOCIATES LIMITED PARTNERSHIP

                    STATEMENTS OF PARTNERS' EQUITY

         FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993

                             (UNAUDITED)


                                Historic
                              Preservation    East Bank
                               Properties       Angel         Total
                              1989 Limited      Joint       Partners'
                              Partnership      Venture       Equity

Balance, December 31, 1992
 (Unaudited)                   $1,873,441     $1,036,225   $2,909,666


Net loss (Unaudited)              (70,105)          (708)     (70,813)

Balance, December 31, 1993
 (Unaudited)                    1,803,336      1,035,517    2,838,853


Net loss (Unaudited)             (145,874)        (1,473)    (147,347)

Balance, December 31, 1994
 (Unaudited)                    1,657,462      1,034,044    2,691,506


Net loss (Unaudited)             (239,003)        (2,414)    (241,417)

Balance, December 31, 1995
 (Unaudited)                   $1,418,459     $1,031,630   $2,450,089



             PORTLAND LOFTS ASSOCIATES LIMITED PARTNERSHIP

                        STATEMENTS OF CASH FLOWS

          FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993

                              (UNAUDITED)

                                    1995         1994           1993

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                         $(241,417)   $(147,347)   $(70,813)
  Adjustments to reconcile net loss
   to net cash provided by
   operating activities:
  Depreciation and amortization      298,914      297,337     299,753
  Decrease (Increase) in tenant
        improvement     escrow        60,265      (60,265)          -
Gain on settlement of liability           -       (57,130)          -
  Decrease (Increase) in rents
    and other receivables              3,636        6,255       5,993
   Dec (Inc) in other assets          21,600      (14,409)        637
  (Decrease) Increase in accounts
     payable  and accrued liabil      18,466       (1,685)    (79,050)
  Increase (Decrease) in interest
    payable                             102       15,160       (4,738)
  (Decrease) Increase in tenant
    deposits                            200       (1,291)      (2,345)

  Net cash provided by
    operating activities            161,766       36,625      149,437

CASH FLOWS FROM INVESTING ACTIVITIES:
   Purchase of tenant improv        (60,000)      (3,500)     (34,207)
Payment of deferred fees            (11,162)           -            -
  Net cash used in investing act    (71,162)      (3,500)     (34,207)

CASH FLOWS FROM FINANCING ACTIVITIES:
  Payments on mortgage, notes payable
    and construction loan           (78,416)     (73,719)     (65,789)

  Net cash used in financing act    (78,416)     (73,719)     (65,789)

NET INCREASE (DECREASE) IN CASH      12,188      (40,594)      49,441

CASH, BEGINNING OF  YEAR             10,628       51,222        1,781

CASH, END OF YEAR                   $22,816      $10,628      $51,222

SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid for interest             $675,536     $546,898     $465,587


Non-Cash financing activity:

 In  February  1994,  Portland Lofts settled  $72,130  of  outstanding
 trade  payables; $15,000 was converted to a note payable and  $57,130
 was forgiven and recognized as a gain in 1994.  See Note 2.

1.  Summary  of  Partnership Organization, Operations and  Significant
    Accounting  Policies:

    Organization:

    Portland Lofts Associates Limited Partnership (the Partnership), a
    Delaware  limited  partnership, was formed on August  8,  1989  to
    acquire, rehabilitate and operate three buildings and the  related
    land  (the  Property) containing 107 residential units and  23,470
    net  rentable  square  feet of commercial space,  located  at  555
    Northwest Park Avenue in Portland, Oregon.

    The  general partners of the Partnership are East Bank Angel Joint
    Venture (EBAJV), an Oregon general partnership (also known as  the
    "developer"),  and Historic Preservation Properties  1989  Limited
    Partnership (HPP'89), a Delaware limited partnership,  whose  sole
    general  partner is Boston Historic Partners Limited  Partnership.
    EBAJV,  whose  venturers are Pacific Star, Inc. and  Joseph  Angel
    (Angel), is also the only limited partner (see Note 4).

    Operations and ability to continue in business:

    The Partnership has experienced difficulty in obtaining extensions
    from lenders and working out certain debt obligations.

    As  described  in  Note  2, the $550,000  unsecured  note  had  an
    extended  maturity date of March 1, 1992. It is the  Partnership's
    position  that  the maturity date of the unsecured note  had  been
    effectively further extended to correspond with the maturity  date
    of  the  mortgage  note.   However,  the  current  holder  of  the
    unsecured note and mortgage note (the current holder) claimed that
    the  unsecured  note  had matured and was  in  technical  default.
    Also,  the current holder claimed that the default for non-payment
    of  the unsecured note constituted a default on the mortgage  note
    (the  balance  of  which was $6,547,037 as of December  31,  1995)
    which is secured by the Property.  On October 7, 1994, the current
    holder  demanded full payment of the unsecured note.  On  November
    11,   1994,   the   current  holder  filed  judicial   foreclosure
    proceedings  against  the  Partnership  for  non-payment  of   the
    unsecured note.

    Portland Lofts successfully contested through the Circuit Court of
    Oregon,  Multnomah County, the current holder's right to foreclose
    on  the  property.  Portland Lofts' position was that the  default
    claimed on the unsecured note does not constitute a default on the
    mortgage  note.   On August 25, 1995, the court issued  a  summary
    judgment in favor of Portland Lofts and affirmed that the  current
    holder cannot foreclose on the property due to the default claimed
    on the unsecured note.
1.  Summary  of  Partnership Organization, Operations and  Significant
    Accounting  Policies (continued):

   However, the current holder continues to pursue the payment of  the
   $550,000  unsecured note through litigation.  While  this  case  is
   still  in  the  discovery  phase,  debt  service  payments  on  the
   unsecured  note  have been paid by Portland Lofts and  accepted  by
   the  current holder.  The current holder maintains that  acceptance
   of  debt  service  payments does not constitute  a  waiver  of  any
   rights  under the note.  Portland Lofts is continuing to  negotiate
   with  the  current  holder to resolve this  dispute  out  of  court
   through  a  global settlement of the mortgage and other debt.   The
   result  of  such  negotiations  or  a  court  decision  cannot   be
   determined at this time.

    The  Partnership has operated on a break even basis since 1993 and
    has not accumulated any reserves at the property level.

    The  conditions described in the preceding paragraphs continue  to
    raise  substantial  doubt  about  the  Partnership's  ability   to
    continue  as  a  going  concern.   The  Partnership's  ability  to
    continue as a going concern depends on its ability to (1) obtain a
    formal  extension  of the $550,000 note, (2)  negotiate  a  global
    settlement of the mortgage and other debt, (3) generate sufficient
    cash  flow  to  fund debt service and operations, and  (4)  obtain
    additional cash contributions from EBAJV to fund certain principal
    payments  if  and  when  necessary.  The  Partnership's  financial
    statements  do not include any adjustments that might result  from
    the outcome of this uncertainty.

    Basis of accounting:

    The Partnership's financial statements are prepared on the accrual
    basis of accounting.

    Use of Estimates

    The   preparation  of  financial  statements  in  conformity  with
    generally  accepted accounting principles 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 the financial  statements  and  the
    reported  amounts  of revenues and expenses during  the  reporting
    period.  Actual results could differ from those estimates.
1.  Summary  of  Partnership Organization, Operations and  Significant
    Accounting  Policies (continued):

    Buildings and improvements:

    The  Partnership's  real estate is held for lease  and  stated  at
    cost.  Depreciation is computed on a straight-line basis  over  40
    years  for  buildings  and improvements,  and  over  7  years  for
    personal property.
    Leasing costs:

    Costs  to lease residential units are generally expensed; however,
    leasing  costs associated with commercial space are capitalized as
    other  assets  and  amortized on a straight-line  basis  over  the
    related  lease terms.  Leasing costs capitalized in 1995 and  1994
    totaled  $8,000 and $3,719. Amortization in 1995,  1994  and  1993
    totaled $2,488, $6,574 and $5,538, respectively.

    Organization costs:

    Organization costs were amortized on a straight-line basis over  a
    60-month period.  Amortization in 1993 was $1,072.

    Deferred financing fees:

    Direct  costs attributable to obtaining financing are  capitalized
    and  amortized  on  a straight-line basis over the  terms  of  the
    related  debt.  Amortization of financing costs in 1995, 1994  and
    1993 totaled $4,064, $901 and $16,934, respectively.

    Revenue recognition:

    Rental  revenue from commercial leases is recorded by  recognizing
    the  aggregate minimum rentals to be received over  the  terms  of
    each  lease  in equal monthly installments over the related  lease
    terms.   Rental  income recorded prior to actual cash  collections
    under  the  terms  of the leases is reflected as rents  receivable
    ($8,825   and   $14,759  as  of  December  31,  1995   and   1994,
    respectively).   Rental  revenue  under  residential   leases   is
    recorded when due.

    Income taxes:

    No  provision (benefit) has been made for income taxes, since  the
    income  or  loss of the Partnership will be included  in  the  tax
    returns of the respective partners.
2.  Mortgage and Notes Payable:

    The  Partnership refinanced its $6,800,000 construction loan to  a
    permanent  mortgage on March 31, 1992.  The mortgage note  matures
    on   April  1,  1997.   Principal  and  interest  payments,  which
    commenced May 1, 1992 are based upon an amortization period of  30
    years.   A  balloon  payment of all unpaid principal  and  accrued
    interest  is due on April 1, 1997.  The interest rate is  variable
    based  on  the LIBOR rate plus 2.5% (8.36% at December 31,  1995).
    The  interest rate is adjusted every 30 days.  As of December  31,
    1995, the mortgage note is guaranteed by Joseph Angel.

    Aggregate  annual  maturities under  the  mortgage  note  payable,
    assuming an 8.36% interest rate, are as follows:

                  December 31,

                      1996                       82,456
                      1997                    6,464,581

                                            $ 6,547,037

    The  mortgage note is collateralized by the Property, all existing
    and  future rents, profits, income, condemnation awards, insurance
    proceeds  and all proceeds of the foregoing arising out of  or  in
    connection  with the Property, as well as all existing and  future
    equipment,  machinery, furniture and fixtures used  in  connection
    with  the  Property. Interest incurred during 1995, 1994 and  1993
    totaled  $565,934,  $459,647 and $365,674,  respectively.   As  of
    December  31, 1995 and 1994, accrued interest totaled $47,128  and
    $46,848, respectively.

    Effective  December 29, 1989, the Partnership assumed an unsecured
    note  dated November 3, 1989 from EBAJV in the amount of  $800,000
    of  which  a  balance of $550,000 is outstanding at  December  31,
    1995.  The  consent of HPP'89 was required for the Partnership  to
    assume  the note.  As a condition to granting this consent, HPP'89
    required EBAJV to enter into an agreement whereby EBAJV would make
    a  capital contribution in the amount of the outstanding principal
    plus  accrued interest if the Partnership does not have the  funds
    to  repay  the note when due.  The capital contribution  shall  be
    concurrently applied by the Partnership to repay the note in full.
    If  EBAJV is required to make a capital contribution, the  Amended
    and   Restated   Agreement  of  Limited  Partnership  (Partnership
    Agreement)   shall  be  amended  to  reflect  EBAJV's   additional
    contribution.   This note was payable to Bank of America  and  was
    used for the rehabilitation costs of the Property.

2.  Mortgage and Notes Payable (continued):

    The  note had an extended maturity date of March 1, 1992.   It  is
    the Partnership's position that the maturity date of the unsecured
    note had been effectively further extended to correspond with  the
    maturity  date  of  the  mortgage note.   The  unsecured  note  is
    guaranteed  by Angel.  Interest is payable monthly  at  an  annual
    rate  of  1.00% over the Prime Rate (9.75% at December 31,  1995).
    The  Partnership  has  continued to pay interest  expense  on  the
    unsecured  note.  Interest incurred on the note during 1995,  1994
    and 1993 totaled $54,847, $45,421, and $39,175, respectively.   As
    of December 31, 1995 and 1994, accrued interest totaled $4,618 and
    $4,499, respectively.

    As  part  of  the  agreement extending the maturity  date  of  the
    $550,000  unsecured note to March 1, 1992, Angel and  HPP'89  were
    required  to  fund a Cash Collateral Account, as  defined  in  the
    agreement.

    In July 1993, the mortgage note and a $550,000 unsecured note were
    purchased  by a real estate investment entity (the current  holder
    of  the  mortgage and unsecured notes). The current holder  claims
    that  the  unsecured  note matured on March 1,  1992,  and  is  in
    technical  default.  It  is  Portland  Lofts'  position  that  the
    maturity  date of the unsecured note had been effectively extended
    to  correspond to the maturity date of the mortgage  note.   Also,
    the  current holder claims that a default for non-payment  of  the
    unsecured note constitutes a default of the mortgage note.

    On  October  7, 1994, the current holder demanded full payment  of
    the  unsecured note by November 10, 1994.  The guarantors  of  the
    note maintained that they were unable to make full payment on  the
    note.  On  November  11, 1994, the current holder  filed  judicial
    foreclosure proceedings against the Partnership for non-payment of
    the unsecured note.  Portland Lofts successfully contested through
    the  court  the  right of the current holder to foreclose  on  the
    property.   Portland Lofts' position was that the default  claimed
    on  the  unsecured  note  does not constitute  a  default  on  the
    mortgage  note.   On August 25, 1995, the court issued  a  summary
    judgment in favor of Portland Lofts.

    However, the current holder continues to pursue the payment of the
    $550,000  unsecured note through litigation.  While this  case  is
    still  in  discovery phase, debt service payments on the unsecured
    note  have been paid by Portland Lofts and accepted by the current
    holder.   The  current holder maintains that  acceptance  of  debt
    service payments does not constitute a waiver of its rights  under
    the  note.  Portland Lofts continues to negotiate with the current
    holder to resolve the dispute out of court.  The result of such
2.  Mortgage and Notes Payable (continued):

    negotiations  or  a  court decision cannot be determined  at  this
    time.

    On  December  29, 1989, the Partnership entered into a  promissory
    note  with  Capital Consultants, Inc. totaling $400,000 which  was
    used  to  pay certain construction related expenses not  otherwise
    chargeable  to  the construction loan.  Interest at  the  original
    rate of 14.00% was payable in monthly installments of $4,667.  The
    note is secured by a Deed of Trust and Security Agreement given by
    Angel and Lynn Angel.  The note is guaranteed by Angel.  The  note
    was  extended until January 4, 1994 in consideration for a $16,000
    extension fee paid by the Partnership in January 1993.   In  early
    1994, this note was extended until February 28, 1994.  On June 30,
    1995,  Portland  Lofts  further extended the  note  payable  until
    December  31,  1995, with the option to further  extend  for  five
    additional successive one year periods.  Fees totaling  $3,162  to
    extend  the  note  were paid in 1995.  Under the  new  terms,  the
    interest rate was decreased to 13.11%, with monthly interest  only
    installments payable of $4,370.  Interest expense for the note  in
    1995,   1994  and  1993  totaled  $53,923,  $56,000  and  $56,000,
    respectively.  Accrued interest totaled $4,370 and  $4,667  as  of
    December 31, 1995 and 1994, respectively.

    The  Portland Development Commission (PDC) loaned $15,000  to  the
    Partnership  on  March 2, 1992.  The note is non-interest  bearing
    and  is  due and payable upon any sale or transfer of the property
    securing the note in the amount of the original loan balance  less
    1/84th  of  the  original  loan  balance  for  each  month   after
    completion  of renovations in which the Partnership remains  owner
    of the property.  If the Partnership remains owner of the property
    for  seven  full years from the date of completion of renovations,
    then the note shall be deemed paid in full.

    In  February  1994, the Partnership settled a $72,130  outstanding
    liability which had been included as part of accounts payable.  As
    part  of  the settlement agreement, $15,000 of the obligation  was
    converted to a note payable amortizing over four years at  a  9.0%
    interest  rate,  and the remaining $57,130 of the  obligation  was
    forgiven and recognized as a gain in 1994.  Monthly principal  and
    interest payments of $350 are due on this note.  Interest  expense
    on this note in 1995 and 1994 totaled $934 and $990, respectively.
    As of December 31, 1995 and 1994, the balance of this note totaled
    $8,772 and $12,285, respectively.




3.  Partners' Equity:

    Profits,  losses and tax credits from operations during the  first
    five  years  following  completion of the  rehabilitation  of  the
    Property are to be distributed as follows:

        HPP'89                99.0%
        EBAJV                   .9
        Limited partner         .1

                              100.0%


    Thereafter,  profits, losses and tax credits shall be  distributed
    in accordance with the above formula except that if cash flows are
    distributed to the partners in accordance with (b) and (c)  below,
    then  profits,  losses  and tax credits shall  be  distributed  in
    accordance with such formula.

    Cash  flows from operations shall be distributed to the  partners,
    as defined in the Partnership Agreement, as follows:

            a.  100 percent to the payment of accrued interest on, and
         then  the unpaid principal balance of, any outstanding  loans
         made to the Partnership by HPP'89.

            b.  Thereafter, 100 percent to HPP'89 until HPP'89 has  re
         ceived  distributions of cash flow in such year in an  amount
         equal to an 8 percent cumulative, noncompounded return on its
         weighted average HPP'89 invested capital for such year.

            c. The remaining balance, if any, is to be distributed  as
         follows:

                                               Prior to
                                            call/put date   Thereafter

           HPP'89                               50.0%          75.0%
           EBAJV                                49.9           24.9
           Limited partner                        .1             .1
                                               100.0%         100.0%








3.  Partners' Equity (continued):

    The  Partnership  Agreement allows certain call  options  and  put
    rights  to  the  partners under terms as defined in the agreement,
    including:

        (a)During  the  first six months following the fifth  calendar
        year  after rehabilitation of the Property has been completed,
        the  developer  has  the option (the call option)  to  acquire
        HPP'89's interest in the Partnership for the greater  of,  (1)
        the excess of $5,750,000 over the total amount distributed  to
        HPP'89 under the terms of the Partnership Agreement or (2) the
        amount   which   would  be  distributed  to  HPP'89   upon   a
        hypothetical sale of the Property for the appraised value.

        (b)After  the call option expires, HPP'89 has a put  right  to
        require  the  developer to purchase HPP'89's interest  in  the
        Partnership for the amount indicated in 3(a).  The  developer,
        provided  it  has  met  certain  conditions  defined  in   the
        agreement,  shall have the right to locate a  third  party  to
        purchase  HPP's  interest on behalf of the  developer  at  the
        terms noted in 3(a) and defined in the agreement.

    Cash  from  the  sale  or  refinancing of the  Property  shall  be
    distributed  to  repay any outstanding loans and related  interest
    and then to the partners, as defined in the Partnership Agreement.

4.  Related parties:

    EBAJV  provided design services totaling $200,000, of   which  the
    Partnership  paid $197,733.  The remaining $2,267 remains  payable
    as   of  December  31,  1995.   Developer  and  design  fees  were
    capitalized as a cost of the Property.

5.  Minimum Future Rentals under Operating Leases:

    The  Partnership rents space to residential tenants  mainly  under
    one   year  operating  leases  and  to  commercial  tenants  under
    operating  leases of varying terms expiring through 1999.   As  of
    December  31,  1995,  the Partnership had  entered  into  eighteen
    commercial leases covering approximately 96% of the building's net
    rentable commercial space.

    Certain commercial leases provide for reimbursement of real estate
    taxes  and  certain  operating expenses.  The approximate  minimum
    future rentals to be received under the commercial leases for each of
    the next five years are as follows:

       Ending, December 31

                 1996                      $  178,674
                 1997                         128,701
                 1998                          89,768
                 1999                          81,600
                 2000                          61,640


    The  above  amounts  do not include additional rentals  that  will
    become  due as a result of escalation provisions in the commercial
    leases.


6.  Fair Value of Financial Instruments

   The  carrying amounts of cash, escrows, rents receivable,  accounts
   payable  and  accrued  liabilities, and other payables  approximate
   their  fair  values due to their short maturities.  The fair  value
   of  the  Partnership's  mortgage note  payable  and  notes  payable
   estimated  to  equal  the carrying amounts  based  on  the  current
   maturities  and interest rates that approximate market rates.   The
   mortgage  note  payable and notes payable are held  for  nontrading
   purposes.


<TABLE>
                           PORTLAND LOFTS ASSOCIATES LIMITED PARTNERSHIP
                                            SCHEDULE III
                              REAL ESTATE & ACCUMULATED DEPRECIATION
                                         DECEMBER 31, 1995
                                           (IN THOUSANDS)
                                            (UNAUDITED)

<CAPTION>
                                                                                          Gross Amounts
                                                     Costs Capitilized Subs              at December 31,
                                   Initial Costs        To Acquisition                        1995

                                             Bldg &                      Bldg                     Date of   Date      Depre
                     Encum-         Improv   Improv     Carrying         Improv           Accum   Constr or  Interest  Life
                     brances Land   ments    ments        Costs   Land   ments   Total    Deprec  Rehabil   Acquired  (years)     

Residential Building/
with Commercial Space
<S>                 <C>      <C>     <C>     <C>       <C>     <C>    <C>       <C>      <C>       <C>       <C>     <C>
 Portland, Oregon   $ 7,750  $ 900   $ 886   $ 9,471   $ 345   $ 900  $ 10,762  $ 11,662 $  1,608  4/15/91   8/31/89  40

Note 1: The aggregate cost of the property on a tax basis net of
        the  reduction due to the rehabilitation tax credit at
        December 31, 1995 and 1994 is as follows:
                                                1995       1994         

                                               $9,797    $9,737  

Note  2: The changes in accumulated depreciation for the  years
         ended December 31, 1995 and 1994 are as follows:

                                                1995       1994

     Balance at beginning of period            $1,316     $1,026

     Depreciation during the year -
       Buildings and improvements                 292        290

     Balance at end of period                  $1,608 $    1,316



Note 3:The changes in total costs of land, building and improavements
       for the years ended December 31, 1995 and 1994 are as follows:

                                                1995       1994

Balance at beginnig of period                $11,602     $11,598

Additions: Building and Improvements              60           4

                                             $11,662     $11,602
</TABLE>