UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)


[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

For the quarterly period ended June 30, 1997

                                       OR

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934

                         Commission File Number 0-16860

                               EAGLE INSURED L.P.
             (Exact names of registrant as specified in its charter)

        Delaware                                                 13-3442945   
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)

625 Madison Avenue, New York, New York                              10022
(Address of principal executive offices)                          (Zip Code)

Registrant's telephone number, including area code (212) 421-5333

       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 such
filing requirements for the past 90 days. Yes _X_ No ___


<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

                               EAGLE INSURED L.P.
                             (a limited partnership)
                        Statements of Financial Condition
                                   (unaudited)


                                                 ============      ============
                                                   June 30,         December 31,
                                                     1997              1996
                                                 ------------      ------------
ASSETS

Investments in mortgage loans                    $ 27,547,595      $ 27,623,254
Loan receivable from affiliate                      3,060,000         3,060,000
Deferred loan origination fees, net                   917,261           932,303
Cash and cash equivalents                           1,335,418         1,228,487
Interest receivable                                   206,550           204,387
Other assets                                                0             6,997
                                                 ------------      ------------

Total assets                                     $ 33,066,824      $ 33,055,428
                                                 ============      ============

LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
   Due to affiliates                             $     77,779      $     47,974
   Accrued expenses                                    40,703            58,033
   Distribution payable                                39,214                 0
                                                 ------------      ------------

Total liabilities                                     157,696           106,007
                                                 ------------      ------------

Contingencies

Partners' capital (deficit):
   BUC$holders (2,641,100 BUC$
     issued and outstanding)                       33,247,378        33,286,865
   General partners                                  (338,250)         (337,444)
                                                 ------------      ------------

Total partners' capital                            32,909,128        32,949,421
                                                 ------------      ------------

Total liabilities and partners' capital          $ 33,066,824      $ 33,055,428
                                                 ============      ============


                 See accompanying notes to financial statements



                                       2
<PAGE>


                               EAGLE INSURED L.P.
                             (a limited partnership)
                        Statements of Financial Condition
                                   (unaudited)


<TABLE>
<CAPTION>
                                  =======================   =======================
                                     Three Months Ended        Six Months Ended
                                           June 30,                June 30,
                                  -----------------------   -----------------------
                                      1997         1996        1997         1996
                                  -----------------------   -----------------------
<S>                               <C>          <C>          <C>          <C>       
REVENUES
   Interest income:
     Mortgage loans               $  654,622   $  692,399   $1,267,306   $1,306,653
     Loan receivable from
       affiliate                      73,482       71,549      144,372      143,756
     Temporary investments            15,705        9,999       30,004       21,084
     Equity gain                           0       41,354            0       56,339
                                  ----------   ----------   ----------   ----------
     Total revenues                  743,809      815,301    1,441,682    1,527,832
                                  ----------   ----------   ----------   ----------
EXPENSES
     General and administrative       55,447       46,858      108,362       93,818
     Amortization of deferred
       loan origination fees           7,521        7,521       15,042       15,042
                                  ----------   ----------   ----------   ----------
     Total expenses                   62,968       54,379      123,404      108,860
                                  ----------   ----------   ----------   ----------
Net income                        $  680,841   $  760,922   $1,318,278   $1,418,972
                                  ==========   ==========   ==========   ==========
ALLOCATION OF NET
   INCOME
   BUC$holders                    $  628,795   $  707,274   $1,215,053   $1,313,733
                                  ==========   ==========   ==========   ==========
   General partners:
     Special distribution         $   39,214   $   39,214   $   78,428   $   78,428
     Other                            12,832       14,434       24,797       26,811
                                  ----------   ----------   ----------   ----------
                                  $   52,046   $   53,648   $  103,225   $  105,239
                                  ==========   ==========   ==========   ==========
Net income per BUC                $      .24   $      .27   $      .46   $      .50
                                  ==========   ==========   ==========   ==========

</TABLE>


                 See accompanying notes to financial statements

                                       3
<PAGE>



                               EAGLE INSURED L.P.
                             (a limited partnership)
               STATEMENT OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)
                                   (unaudited)

                                   ============================================ 
                                                                      General
                                      Total         BUC$holders       Partners
                                   -------------------------------------------- 

Partners' capital (deficit) -
   January 1, 1997                 $ 32,949,421    $ 33,286,865    $   (337,444)
Net income                            1,318,278       1,215,053         103,225
Distributions                        (1,358,571)     (1,254,540)       (104,031)
                                   ------------    ------------    ------------ 

Partners' capital (deficit) -
   June 30, 1997                   $ 32,909,128    $ 33,247,378    $   (338,250)
                                   ============    ============    ============ 



                 See accompanying notes to financial statements

                                       4
<PAGE>



                               EAGLE INSURED L.P.
                             (a limited partnership)
                            STATEMENTS OF CASH FLOWS
                                   (unaudited)


                                                     ==========================
                                                           Six Months Ended
                                                              June 30,
                                                     --------------------------
                                                         1997            1996
                                                     --------------------------

CASH FLOWS FROM OPERATING ACTIVITIES:
Interest received                                    $ 1,439,521    $ 1,418,004
General and administrative expenses paid                 (88,892)      (105,385)
                                                     -----------    -----------

Net cash provided by operating activities              1,350,629      1,312,619
                                                     -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
Principal payments received on mortgage loans             75,659         66,203
                                                     -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
Distributions paid to partners                        (1,319,357)    (1,319,357)
                                                     -----------    -----------

Net increase in cash and cash equivalents                106,931         59,465
Cash and cash equivalents at beginning of the period   1,228,487      1,145,895
                                                     -----------    -----------

Cash and cash equivalents at end of the period       $ 1,335,418    $ 1,205,360
                                                     ===========    ===========

RECONCILIATION OF NET INCOME TO NET
   CASH PROVIDED BY OPERATING ACTIVITIES:
Net income                                           $ 1,318,278    $ 1,418,972
                                                     -----------    -----------
Adjustments to reconcile net income to net cash
   provided by operating activities:
Equity gain                                                    0        (56,339)
Amortization of deferred loan origination fees            15,042         15,042
Changes in:
   Interest receivable                                    (2,163)       (53,489)
   Other assets                                            6,997          3,253
   Due to affiliates                                      29,805         (4,528)
   Accrued expenses                                      (17,330)       (10,292)
                                                     -----------    -----------

Total adjustments                                         32,351       (106,353)
                                                     -----------    -----------

Net cash provided by operating activities            $ 1,350,629    $ 1,312,619
                                                     ===========    ===========

Reconciliation of distributions paid to partners:

Distributions to partners                            $(1,358,571)   $(1,358,571)
Increase in distribution payable                          39,214         39,214
                                                     -----------    -----------

Distributions paid to partners                       $(1,319,357)   $(1,319,357)
                                                     ===========    ===========


                 See accompanying notes to financial statements



                                       5
<PAGE>


                               EAGLE INSURED L.P.
                             (a limited partnership)
                          Notes to Financial Statements
                                  June 30, 1997
                                   (unaudited)

NOTE 1 - General

These financial  statements have been prepared  without audit. In the opinion of
management, the financial statements contain all adjustments (consisting of only
normal recurring adjustments) necessary to present fairly the financial position
of Eagle Insured L.P. (the  "Partnership")  as of June 30, 1997,  the results of
operations  for the three and six months  ended June 30,  1997 and 1996 and cash
flows for the six months ended June 30, 1997 and 1996.  However,  the  operating
results for the interim  periods may not be indicative  of the results  expected
for the full year.

Certain  information  and  footnote  disclosures  normally  included  in  annual
financial  statements  prepared in accordance with generally accepted accounting
principles have been omitted. It is suggested that these financial statements be
read in conjunction with the financial  statements and notes thereto included in
the  Partnership's  Annual Report on Form 10-K/A-2 filed with the Securities and
Exchange Commission for the year ended December 31, 1996.





                                       6
<PAGE>


                               EAGLE INSURED L.P.
                             (a limited partnership)
                          Notes to Financial Statements
                                  June 30, 1997
                                   (unaudited)

NOTE 2 - Investment in Mortgage Loans and Equity Loans to Developers

Information  relating to investments in FHA co-insured mortgage loans and equity
loans to developers as of June 30, 1997 and December 31, 1996 is as follows:

<TABLE>
<CAPTION>
                                                                Interest     Mortgage     Mortgage      Equity         Equity
                            Funding         Final               Rate on      Loan         Loan          Loan           Loan
                  Closing   Completion      Maturity            Mortgage     Balance at   Balance at    Balance at     Balance at
Project           Date      Date            Date (1)            Loan (2)     6/30/97      12/31/96      6/30/97 (4)    12/31/96 (4)
-------           ----      ----            --------            --------     -------      --------      -----------    ------------
<S>              <C>        <C>             <C>                 <C>          <C>           <C>           <C>            <C>  
Cross Creek                                 
Apartments                                  
Charlotte,                                  
 NC(3)           06/10/88   2/1/91          1/1/30              8.95%        $17,063,666   $17,106,744   $    0         $   0
                                                                                                                       
Weatherly Walk                                                                                                         
Apartments                                                                                                             
Fayetteville,                                                                                                          
GA               08/18/88   12/5/89         11/1/29             8.95%          7,534,132     7,553,454        0             0
                                                                                                                       
Woodgate Manor                                                                                                         
Gainesville,                                                                                                           
FL(3)            12/12/88   12/13/88        1/1/24              8.95%          2,949,797     2,963,056        0             0
                                                                             -----------   -----------   ------         -----
                                                                                                                       
                                                                             $27,547,595   $27,623,254   $    0         $   0
                                                                             ===========   ===========   ======         =====
</TABLE>
        
                                                                
(1)  The Partnership may call for prepayment of the total loan at any time after
     the tenth  anniversary of the date the mortgage loan funding was completed.
     The  Partnership,  in order to call for  prepayment,  would be  required to
     terminate the mortgage  insurance  contract with FHA (and/or the coinsurer)
     not later than the  accelerated  payment  date.  Since the exercise of such
     option  would be at the  Partnership's  discretion,  it is  intended  to be
     exercised  only  where  the  Partnership  determines  that the value of the
     Development  has  increased by an amount which would  justify  accelerating
     payment in full and  assuming  the risks of  foreclosure  if the  mortgagor
     failed to make the accelerated payment.  The Partnership  presently expects
     to dispose of such loans within 10 to 15 years after acquisition.

     For a period of five years from the loan  closing  date,  the owners of the
     properties  did not have the right to prepay the mortgage loans without the
     consent  of  the  General  Partners.   Beginning  in  the  sixth  year  and
     thereafter,  any prepayment during one calendar year in an amount in excess
     of 15% of the  original  principal  amount  of the  mortgage  loan  will be
     subject to a prepayment penalty.  The prepayment penalty is 5% in the sixth
     year and decreases 1% per year thereafter.

(2)  Includes a servicing fee of 0.07% paid by the developer to Related Mortgage
     Corporation (an affiliate of the Related General  Partner);  however,  does
     not include additional interest which may be payable.

(3)  The general partnership  interest of the project is held by an affiliate of
     the Related General Partner.

(4)  Equity  operating  losses have reduced the carrying value of these loans to
     zero as of June 30, 1997 and December 31, 1996 without  elimination  of the
     amount due and owing to the Partnership.


<PAGE>


                               EAGLE INSURED L.P.
                             (a limited partnership)
                          Notes to Financial Statements
                                  June 30, 1997
                                   (unaudited)


NOTE 3 - Related Parties

The General Partners and their  affiliates  perform services for the Partnership
which  include,  but are not limited to:  accounting  and financial  management;
registrar,  transfer  and  assignment  functions;  asset  management;   investor
communications; printing and other administrative services. The General Partners
and their  affiliates  receive  reimbursements  for costs incurred in connection
with these  services,  the amount of which is limited by the  provisions  of the
Amended  and  Restated  Agreement  of  Limited   Partnership  (the  "Partnership
Agreement"). The costs and expenses were:

                                           Three Months Ended   Six Months Ended
                                                June 30,            June 30, 
                                           -----------------   -----------------
                                             1997      1996     1997       1996
                                           -----------------   -----------------

Prudential-Bache Properties, Inc. 
   ("PBP") and affiliates                  $15,029   $ 1,201   $24,952   $16,593
Related Federal Insured L.P. (the
   "Related General Partner") and
   affiliates                               13,235    15,000    24,347    30,000
                                           -------   -------   -------   -------
                                           $28,264   $16,201   $49,299   $46,593
                                           =======   =======   =======   =======

The  present  owner of the  Cross  Creek  property  ("Walsh/Cross  Creek  L.P.")
acquired  title to the  property  upon the  default of the  original  developer.
Significant  interests in  Walsh/Cross  Creek L.P. are held by affiliates of the
Related  General  Partner.   The  Partnership  made  a  loan  of  $3,060,000  to
Walsh/Cross  Creek L.P.  (the "Cross Creek  Loan") to pay for costs  incurred to
complete construction and to fund operating deficits. The Cross Creek Loan bears
interest  at the prime  rate plus 1.0% and is due on  January  1, 2030 or on the
occurrence of other events as more fully  described in the loan  agreement.  The
amount loaned to Walsh/Cross  Creek L.P. is classified as a loan receivable from
affiliate  and is  anticipated  to be repaid from cash flows from the  property.
Stephen M. Ross holds a majority interest in the Related General Partner and has
guaranteed to the Partnership,  subject to certain  conditions  contained in the
Guarantee  Agreement  and  Amendment  to  the  Guarantee  as  follows:  (i)  the
performance  of all  obligations  for the payment of interest on the Cross Creek
Loan when due in accordance with documentation  evidencing the Cross Creek Loan;
(ii) the payment of principal on the Cross Creek Loan on or before  December 31,
2000;  (iii) the  repayment  on or before  December  31, 2000 of the  $1,783,900
equity  loan  (currently  recorded  at  zero)  previously  made to the  original
developer  of Cross  Creek;  and  (iv) the  payment  when  due of  interest  and
principal at an interest rate of 8.95% of the  $17,494,100  first  mortgage loan
previously made to the original developer.

In accordance  with the  Guarantee  Agreement and Amendment to the Guarantee and
except as otherwise  required by HUD,  available  cash flow or capital  proceeds
from the Cross Creek property will be applied first to all expenses of operating
and maintaining the property,  debt service and/or  satisfaction of the mortgage
loan,  equity loan and Cross Creek Loan,  then to reimburse  Stephen M. Ross for
operating  deficit payments which he has made (amounting to $206,012 for the six
months  ended June 30, 1997 and  $3,388,744  cumulatively),  then to  additional
interest,  default  rate  and  guaranteed  rate  payments  as set  forth  in the
Subordinated Note and the Additional Interest Guarantee.

Prudential Securities Incorporated ("PSI"), an affiliate of PBP, owns 6,655 BUC$
at June 30, 1997.


                                       8


<PAGE>


                               EAGLE INSURED L.P.
                             (a limited partnership)
                          Notes to Financial Statements
                                  June 30, 1997
                                   (unaudited)

NOTE 4 - Contingencies

Previous  quarterly and annual  reports by the  Partnership  have  disclosed the
commencement  and status of the putative class action captioned Kinnes et al. v.
Prudential  Securities Group, Inc. et al. , (CV-93-654)  (D.Az.).  This putative
class action was  transferred,  along with certain other cases,  by the Judicial
Panel on  Multidistrict  Litigation  to a  single  judge  of the  United  States
District  Court  for  the  Southern  District  of New  York  (the  "Court")  for
consolidated  and  coordinated  pre-trial  proceedings  under the  caption In re
Prudential Securities Incorporated Limited Partnerships  Litigation,  MDL Docket
1005 (the "Class Action"). As previously disclosed in the last quarterly report,
the Related General Partner and certain of its affiliates  entered,  in December
1996, into a stipulation of settlement with counsel for plaintiffs to settle the
Class Action against the Related  General  Partner and certain of its affiliates
(the "Related Settlement").

On June 11,  1997,  the Court  issued  orders  that,  inter alia,  approved  the
solicitation  statement  describing  in  detail  the  transactions  contemplated
pursuant to the proposed  Related  Settlement,  directed that it be mailed along
with the class notice to the members of the class and rescheduled the settlement
fairness  hearing to consider the final  approval of the Related  Settlement for
August 28,  1997.  In  accordance  with the  Court's  orders,  the  solicitation
statement and class notice were mailed to BUC$holders of the Partnership.

There can be no  assurance  that the  conditions  to the closing of the proposed
Related  Settlement and the  reorganization  of the Partnership (as disclosed in
previous  quarterly  and annual  reports and in the  solicitation  statement and
class notice) will be satisfied nor as to the time frame as to which the closing
may occur.  In the event that the Related  Settlement  is not  consummated,  the
Related General Partner believes it has meritorious defenses to the Class Action
and intends to defend this action vigorously.

NOTE 5 - Subsequent Event

In August 1997, distributions of approximately $627,000 and $52,000 were paid to
the  BUC$holders  and  General Partners,  respectively,  for  the  quarter ended
June 30, 1997.



                                       9
<PAGE>


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations.

Liquidity and Capital Resources

The  Partnership  originally  invested  in four  mortgage  loans  which  finance
multifamily residential rental properties, one of which was prepaid in 1994.

All base  interest and  initially at least 90% in the aggregate of the principal
of the mortgage loans made by the  Partnership  are coinsured by the FHA (80% of
the 90%) and an affiliate of the Related  General Partner (20% of the 90%), with
the remaining 10% of the Partnership's original portfolio comprised of uninsured
non-interest  bearing  equity loans made directly to the same  developers as are
the mortgage investments. With respect to a default on FHA co-insured loans, the
Partnership  would bear the risk of loss with respect to  uninsured  portions of
the loans (10% of the mortgage loan and additional interest), however, these are
secured by the interests in the partnerships  owning the underlying  properties.
The equity  loans to  developers  are  recorded at zero as of June 30, 1997 as a
result of being  accounted  for under the equity  method of  accounting  without
elimination of the amount due and owing to the Partnership.

The Partnership is entitled to receive additional interest on each mortgage loan
from the annual net cash flow of the  development  and from a percentage  of the
residual value upon sale or refinancing.  The receipt of additional  interest is
dependent upon the economic performance of the underlying properties. During the
six months  ended June 30, 1997 the  Partnership  received  additional  interest
payments of approximately $43,000 from Woodgate Manor.

Stephen M. Ross has guaranteed repayment of the principal and interest on a loan
to the Cross Creek developer. See Note 3 to the financial statements for further
information.  Mr. Ross  remains in  compliance  with his  obligations  under the
Guarantee  Agreement  and  Amendment  to  the  Guarantee.  However,  significant
portions of his assets are in the form of  partnership  interests  and corporate
stock which are pledged or are otherwise  illiquid.  Furthermore,  a significant
portion of the cash flow which Mr. Ross would  otherwise  be expected to receive
from his business operations is presently pledged to meet other obligations. Mr.
Ross also has contingent  liabilities that, if simultaneously called upon, could
result in Mr. Ross having  insufficient liquid assets to meet all of his current
liabilities.  There can be no  assurance  that Mr. Ross will have the  liquidity
necessary  to  continue  to comply  with his  obligations  under  the  Guarantee
Agreement and Amendment to the Guarantee.  In addition, Mr. Ross has capitalized
the Related General Partner with a demand promissory note and, if called upon to
pay all or a portion of this note,  there is no assurance  that he will have the
liquidity necessary to meet such demand.

FAI, Ltd.  Weatherly Walk Apartments  ("Weatherly  Walk") and Walsh/Cross  Creek
Limited  Partnership  ("Cross  Creek")  have in the past  experienced  recurring
operating  losses,  working capital  deficiencies  and negative cash flows which
raised concerns of a potential default on the related mortgage and equity loans.
With respect to Weatherly  Walk, the  Fayetteville,  Georgia market has improved
and the partnership which owns the property is no longer experiencing  operating
deficits,  working  capital  deficiencies  or  negative  cash  flows  and  it is
currently  meeting  its  operating   obligations   including  required  mortgage
payments.  With respect to Cross Creek, which continues to experience  recurring
operating losses, as indicated above and in Note 3 to the financial  statements,
Stephen  M. Ross has  guaranteed  the  performance  of all  obligations  for the
payment of interest (at 8.95%) and principal of the first mortgage together with
the equity loan and has  contributed  $206,012  during the six months ended June
30, 1997 ($3,388,744 cumulatively) to cover operating losses and working capital
deficiencies, allowing this property to meet all required mortgage payments.

At the beginning of the year, the Partnership  had cash and cash  equivalents of
approximately $1,228,000.  After the receipt of net cash flow from operations of
approximately  $1,350,000,



                                       10
<PAGE>


principal  payments received on mortgage loans of approximately  $76,000 and the
payment of  distributions  of  approximately  $1,319,000,  the  Partnership  had
approximately  $1,335,000  in cash and cash  equivalents  at June 30, 1997.  The
second quarter distribution of approximately $627,000 was paid to BUC$holders in
August 1997 from  adjusted  cash flow from  operations.  Principal  and interest
payments from the mortgage loans are anticipated to provide sufficient liquidity
to meet the operating  expenditures of the Partnership and to pay  distributions
in future years.

For a discussion of the proposed  settlement of the Class Action relating to the
Partnership, see Note 4 to the financial statements.

Management is not aware of any trends or events,  commitments or  uncertainties,
which  have not  otherwise  been  disclosed,  that will or are  likely to impact
liquidity in a material way. All base interest and at least 90% of the principal
of the Partnership's  investments in mortgage loans are insured or co-insured by
the FHA and a private  mortgage  lender  (which is an  affiliate  of the Related
General Partner). The Partnership's investment in unsecured non-interest bearing
equity loans (which represent  approximately 10% of the  Partnership's  original
portfolio)  are  secured  by  the  interests  in  the  partnerships  owning  the
underlying  properties which are diversified by location so that if one state is
experiencing   downturns  in  the  economy,  the  remaining  properties  may  be
experiencing upswings. However, the geographic diversifications of the portfolio
may not protect against a general downturn in the national economy.

The Partnership anticipates that cash generated currently from the operations of
the properties  underlying the  Partnership  mortgage loans (taking into account
certain  guarantees  and  the  current  performance  of the  properties  and the
markets) will be  sufficient  to meet the required debt service  payments to the
Partnership.

Results of Operations

The  Partnership's  net income for the three and six months  ended June 30, 1997
decreased by approximately  $80,000 and $101,000,  respectively,  as compared to
1996 for the reasons described below.

Interest income from temporary  investments  increased  approximately $6,000 and
$9,000,  respectively,  for the  three and six  months  ended  June 30,  1997 as
compared to 1996 primarily due to higher cash and cash  equivalents  balances in
1997.

During the three and six months ended June 30, 1996,  the  Partnership  recorded
equity gains of approximately $41,000 and $56,000, respectively, relating to net
equity gains from the Woodgate Manor property.  The reason for not recording any
equity  gains  (losses) in 1997 was due to the  carrying  value of the  Woodgate
Manor equity loan being reduced to zero by the net equity loss for the full year
1996.

General and administrative  expenses increased approximately $9,000 and $15,000,
respectively,  for the three and six months  ended June 30,  1997 as compared to
1996. The increase during the three months ended June 30, 1997 was primarily due
to an overaccrual of expense reimbursements to the General Partners in the first
quarter of 1996 which was adjusted in the second  quarter of 1996.  The increase
during the six months  ended June 30, 1997 was  primarily  due to an increase in
legal costs in the first quarter of 1997 as well as an overaccrual of audit fees
at December 31, 1995.


                                       11
<PAGE>


Additional Information

The  following  table lists the  respective  occupancy  rates at the  properties
securing the mortgage loans as of July 6, 1997:

Property                                Location                  Occupancy %
--------                                --------                  -----------

Cross Creek Apartments                  Charlotte, NC                94.7%
Weatherly Walk Apartments               Fayetteville, GA             91.7%
Woodgate Manor                          Gainesville, FL              91.9%




                                       12
<PAGE>


                           PART II. OTHER INFORMATION


Item 1. Legal Proceedings

     Incorporated  by  reference  to Note 4 to the  financial  statements  filed
herewith in Item 1 of Part I of the Registrant's Quarterly Report.

Item 2. Changes in Securities - None

Item 3. Defaults Upon Senior Securities - None

Item 4. Submission of Matters to a Vote of Security Holders - None

Item 5. Other Information

     Thomas F. Lynch, III ceased to serve as President, Chief Executive Officer,
Chairman of the Board of Directors and Director of Prudential-Bache  Properties,
Inc.  effective May 2, 1997.  Effective May 2, 1997, Brian J. Martin was elected
President,  Chief  Executive  Officer,  Chairman of the Board of  Directors  and
Director of Prudential-Bache Properties, Inc.

     Solicitation  information  was mailed to BUC$holders in connection with the
proposed  Related  Settlement  (see  Note 4 to the  financial  statements  filed
herewith in Item 1 of Part I of the Registrant's Quarterly Report).

Item 6. Exhibits and Reports on Form 8-K

     (a)  Exhibits:

          3(a)  and  4(a)   Agreement   of  Limited   Partnership,   as  amended
     (incorporated  by reference to Exhibits 3(a) and 4(a) to the  Partnership's
     Prospectus,  dated  December 11, 1987,  filed pursuant to Rule 424(b) under
     the Securities Act of 1933, File No. 33-17059).

          3(b)  and  4(b)  Certificate  of  Limited   Partnership,   as  amended
     (incorporated  by reference to Exhibits  3(a) and 4(a) to the  Registration
     Statement on Form S-11,  (File No. 33-17059) dated November 17, 1987 and to
     Amendment No. 2 to such Registration Statement dated December 2, 1987).

          27 Financial Data Schedule (filed herewith).

     (b)  Reports on Form 8-K

          No reports on Form 8-K were filed during the quarter.


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<PAGE>


                                   SIGNATURES


Pursuant  to the  requirements  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.


                             EAGLE INSURED L.P.


                             By: Related Federal Insured L.P.
                                 A Delaware limited partnership, General Partner

                             By:  RFI Associates, Inc.
                                  A Delaware corporation,
                                  general partner of the General Partner



Date:  August 13, 1997            By: /s/ Alan P. Hirmes
                                      ------------------
                                      Alan P. Hirmes
                                      Vice President
                                      (Principal Financial Officer)





Date:  August 13, 1997            By: /s/ Richard A. Palermo
                                      ----------------------
                                      Richard A. Palermo
                                      Treasurer
                                      (Principal Accounting Officer)


                             By:  Prudential-Bache Properties, Inc.
                                  A Delaware corporation, General Partner



Date:  August 13, 1997            By: /s/ Eugene D. Burak
                                      -------------------
                                      Eugene D. Burak
                                      Vice President



                                       14