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|  Delaware                | 16-1309987                              |
|-------------------------------|-----------------------------------------|
|  (State of organization) |  (IRS Employer Identification No.) |

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| Statement of Net Assets in Liquidation                              |                                                                      |   |
|---------------------------------------------------------------------|---------------------------------------------------------------------------|--------|
| (Liquidation Basis)                                                 |                                                                      |   |
|                                                                |                                                                      |   |   | (Unaudited) |   |   |
|                                                                |                                                                      |   |   |   |   | March 31, |   | December 31, |
| Assets                                                              |                                                                      |   | 2011 |   | 2010 |
|                                                                |                                                                      |   |   |   |   |   |   |   |
| Receivables from affiliates                                         |                                                                      |   |   |  $          31,314 |   |              40,172 |
| Equity interest in unconsolidated joint venture                     |                                                                      |   |   |   |
|   in excess of investment                                      |                                                                      |   |   |         1,077,831 |   |         1,067,295 |
|                                                                |                                                                      |   |   |   |   |   |   |   |
|        Total assets              |                                                                      |   |   |   |  $     1,109,145 |   |         1,107,467 |
|                                                                |                                                                      |   |   |   |   |   |   |   |
|                                                                |                                                                      |   |   |   |   |   |   |   |
| Liabilities - accounts payable and accrued expenses                 |            340,549 |   |            336,405 |
|                                                                |                                                                      |   |   |   |   |   |   |   |
|        Net assets in liquidation |                                                                      |   |   |  $        768,596 |   |            771,062 |

| Statement of Net Assets in Liquidation           |
|--------------------------------------------------|
| (Liquidation Basis)                              |
| (Unaudited)                                      |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   | Three months ended March 31, |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   | 2011 |   | 2010 |
|                                             |   |   |   |   |   |   |   |   |
| Net assets in liquidation at January 1           |   |   |  $        771,062 |   |            789,479 |
|                                             |   |   |   |   |   |   |   |   |
| Estimated costs during the period of liquidation |              (2,466) |   |              (4,557) |
|                                             |   |   |   |   |   |   |   |   |
| Net assets in liquidation at March 31            |   |   |  $        768,596 |   |            784,922 |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |

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|   | Three months ended March 31, 2011 and 2010 |
|--------|--------------------------------------------|

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| Balance Sheet Information                                      |   |   |
|----------------------------------------------------------------|--------|--------|
|                                                           |   |   |   |   |   |   |   |   |
|                                                           |   |   |   |   |   | (Unaudited) |   |   |
|                                                           |   |   |   |   |   | March 31, |   | December 31, |
|                                                           |   |   |   |   |   | 2011 |   | 2010 |
| Assets:                                                        |   |   |   |   |   |   |   |   |
|   Cash and equivalents                                    |   |   |   |   |  $    1,223,281 |   |        1,237,924 |
|   Receivable from affiliates                              |   |   |   |        1,087,598 |   |        1,080,298 |
|   Accrued interest receivable                             |   |   |   |           359,143 |   |           338,017 |
|                                                           |   |   |   |   |   |   |   |   |
|     Total assets                           |   |   |   |   |  $    2,670,022 |   |        2,656,239 |
|                                                           |   |   |   |   |   |   |   |   |
| Liabilities:                                                   |   |   |   |   |   |   |   |   |
|   Accounts payable and accrued expenses                   |   |   |                    33 |   |                    25 |
|   Payable to affiliates                                   |   |   |   |   |           514,327 |   |           521,624 |
|                                                           |   |   |   |   |   |   |   |   |
|     Total liabilities                      |   |   |   |   |           514,360 |   |           521,649 |
|                                                           |   |   |   |   |   |   |   |   |
| Partners' equity:                                              |   |   |   |   |   |   |   |
|   The Partnership                                         |   |   |   |   |        1,077,831 |   |        1,067,295 |
|   RPILP - II                                              |   |   |   |   |        1,077,831 |   |        1,067,295 |
|                                                           |   |   |   |   |   |   |   |   |
|     Total partners' equity                 |   |   |   |   |        2,155,662 |   |        2,134,590 |
|                                                           |   |   |   |   |   |   |   |   |
|     Total liabilities and partners' equity |   |   |  $    2,670,022 |   |        2,656,239 |

| Operating Information                                                 |
|-----------------------------------------------------------------------|
| (Unaudited)                                                           |
|                                                                  |   |   |   |   |   |   |   | Three months ended March 31, |
|                                                                  |   |   |   |   |   |   |   |   |   |   |
|                                                                  |   |   |   |   |   |   |   | 2011 |   | 2010 |
| Income:                                                               |   |   |   |   |   |   |   |   |   |   |
|     Interest income                               |   |   |   |   |   |   |  $        21,126 |   |            21,126 |
|                                                                  |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                             |   |   |   |   |   |   |   |   |   |   |
|     Interest                                      |   |   |   |   |   |   |   |                     3 |   |                 235 |
|     Administrative                                |   |   |   |   |   |   |                   51 |   |                 335 |
|                                                                  |   |   |   |   |   |   |   |   |   |   |
|           Total expenses |   |   |   |   |   |   |                   54 |   |                 570 |
|                                                                  |   |   |   |   |   |   |   |   |   |   |
|           Net income     |   |   |   |   |   |   |  $        21,072 |   |            20,556 |
|                                                                  |   |   |   |   |   |   |   |   |   |   |
| Allocation of net income:                                             |   |   |   |   |   |   |   |   |
|     The Partnership                               |   |   |   |   |   |   |            10,536 |   |            10,278 |
|     RPILP - II                                    |   |   |   |   |   |   |            10,536 |   |            10,278 |
|                                                                  |   |   |   |   |   |   |   |   |   |   |
|                                                                  |   |   |   |   |   |   |   |  $        21,072 |   |            20,556 |

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| 31.   | Certification Pursuant to Rule 13a-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|-----------------|-----------------------------------------------------------------------------------------------------------------|

| 32.   | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------|

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|  May 16, 2011 | /s/ Joseph M. Jayson            |
|--------------------|---------------------------------|
|  Date         | Joseph M. Jayson                |
|               | Individual General Partner,     |
|               | Principal Executive Officer and |
|               | Principal Financial Officer     |

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