-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P8aYPu+L280IGL/v0da40epXZP4a6N/nEr0sSu547HYRF+4rSwOUdjbqPnwWAxm0 QDeXclYGg4RiORrEcPbc3w== 0000700720-02-000007.txt : 20021015 0000700720-02-000007.hdr.sgml : 20021014 20021015092321 ACCESSION NUMBER: 0000700720-02-000007 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20020831 FILED AS OF DATE: 20021015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MAXUS REAL PROPERTY INVESTORS FOUR LP CENTRAL INDEX KEY: 0000700720 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 431250566 STATE OF INCORPORATION: MO FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 000-11023 FILM NUMBER: 02788283 BUSINESS ADDRESS: STREET 1: 104 ARMOUR RD STREET 2: PO BOX 34729 CITY: NORTH KANSAS CITY STATE: MO ZIP: 64116 BUSINESS PHONE: 8163034500 MAIL ADDRESS: STREET 1: 104 ARMOUR RD STREET 2: PO BOX 34729 CITY: NORTH KANSAS CITY STATE: MO ZIP: 64116 FORMER COMPANY: FORMER CONFORMED NAME: NOONEY REAL PROPERTY INVESTORS FOUR L P DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MAXUS REAL PROPERTY-FOUR L P DATE OF NAME CHANGE: 20000201 10QSB 1 mrp4_10q3qtr02.txt MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB (Mark One) X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ------ For the quarter period ended August 31, 2002 --------------------------- OR ___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from To ------------------ ------------ Commission file number 000-11023 MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. ---------------------------------------- (Exact name of small business issuer as specified in its charter) Missouri 43-1250566 - --------------------- ---------------- (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 104 Armour Road, North Kansas City, Missouri 64116 - -------------------------------------------- ------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (816) 303-4500 ----------------- Check whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 ------- ------- 1 INDEX Page PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS: Balance Sheets 3 Statements of Operations 4 Statements of Cash Flows 5 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS 7 ITEM 3. CONTROLS AND PROCEDURES 8 PART II - OTHER INFORMATION 9 ITEM 1. LEGAL PROCEEDINGS 9 ITEM 2. CHANGES IN SECURITIES 9 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 9 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS 9 ITEM 5. OTHER INFORMATION 10 ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K 10 SIGNATURES 11 EXHIBIT INDEX 14 2 PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS MAXUS REAL PROPERTY INVESTORS - FOUR, L.P. (A LIMITED PARTNERSHIP) BALANCE SHEETS August 31, November 30, 2002 2001 (Unaudited) ASSETS: Investment property Land $ 1,014,000 1,014,000 Buildings and improvements 15,878,000 15,615,000 ------------ ----------- 16,892,000 16,629,000 Less accumulated depreciation 10,300,000 9,844,000 ------------ ----------- Total investment property 6,592,000 6,785,000 Cash 999,000 1,048,000 Accounts receivable, less allowance for doubtful accounts --- 30,000 Prepaid expenses 14,000 48,000 Deferred expenses, less accumulated amortization 85,000 93,000 Income tax deposit 18,000 109,000 ------------ ----------- Total assets $ 7,708,000 8,113,000 ============ =========== LIABILITIES AND PARTNERS' DEFICIT: Liabilities: Mortgage notes payable $ 9,900,000 9,900,000 Accounts payable and accrued expenses 259,000 216,000 Real estate taxes payable 92,000 125,000 Refundable tenant deposits 79,000 94,000 ------------ ----------- Total liabilities 10,330,000 10,335,000 Partners' deficit (2,622,000) (2,222,000) ------------ ----------- Total liabilities and partners' deficit $ 7,708,000 8,113,000 ============ ===========
3 MAXUS REAL PROPERTY INVESTORS - FOUR, L.P. (A LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Nine Months Ended August 31, August 31, August 31, August 31, 2002 2001 2002 2001 Revenues: Rental $ 658,000 681,000 1,982,000 1,999,000 Other 66,000 70,000 208,000 183,000 -------- -------- --------- --------- Total revenues 724,000 751,000 2,190,000 2,182,000 -------- -------- --------- --------- Expenses: Depreciation and amortization 159,000 154,000 463,000 441,000 Repairs and maintenance, including common area maintenance 89,000 120,000 257,000 272,000 Real estate taxes 34,000 34,000 103,000 102,000 Interest 184,000 184,000 553,000 553,000 Professional fees 59,000 73,000 155,000 161,000 Utilities 57,000 44,000 117,000 113,000 Property management fees - related parties 50,000 50,000 136,000 135,000 Other 111,000 121,000 341,000 344,000 ---------- ---------- --------- --------- Total expenses 743,000 780,000 2,125,000 2,121,000 ---------- ---------- --------- --------- Net Income (loss) $ (19,000) (29,000) 65,000 61,000 ========== ========== ========= ========= Net income (loss) allocation: General partners $ --- (1,000) 1,000 1,000 Limited partners (19,000) (28,000) 64,000 60,000 ---------- --------- --------- --------- $ (19,000) (29,000) 65,000 61,000 ========== ========= ========= ========= Limited partners' data: Net income (loss) per unit $ (1.58) (2.31) 5.28 4.61 ========== ========= ========= ========= Weighted average limited partnership units outstanding 12,033 12,247 12,126 13,098 ========== ========= ========= =========
4 MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. (A LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED) Nine Months Ended August 31, August 31, 2002 2001 Cash flows from operating activities: Net income $ 65,000 61,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 463,000 441,000 Changes in accounts affecting operations: Accounts receivable 30,000 (88,000) Prepaid expenses 34,000 5,000 Accounts payable and accrued expenses 43,000 194,000 Real estate taxes payable (33,000) --- Refundable tenant deposits (15,000) 2,000 Deferred expenses --- (11,000) Income tax deposit 91,000 --- ---------- -------- Net cash provided by operating activities 678,000 604,000 ---------- -------- Cash flows from investing activities: Capital expenditures (262,000) (177,000) ---------- -------- Cash flows from financing activities: Distributions (365,000) (122,000) Repurchase of Partnership Units (100,000) -------- Net cash used in financing activities (465,000) (528,000) ---------- -------- Net decrease in cash (49,000) (101,000) Cash, beginning of period 1,048,000 1,186,000 --------- --------- Cash, end of period $ 999,000 1,085,000 ========== ========= Supplemental disclosure of cash flow information - cash paid during the period for interest $ 553,000 553,000 ========== =========
5 MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. (A LIMITED PARTNERSHIP) NOTES TO UNAUDITED FINANCIAL STATEMENTS NINE MONTHS ENDED AUGUST 31, 2002 AND AUGUST 31, 2001 (1) Summary of Significant Accounting Policies Refer to the financial statements of Maxus Real Property Investors - Four, L.P., formerly known as Nooney Real Property Investors - Four, L.P. (the "Partnership" or the "Registrant"), for the year ended November 30, 2001, which are contained in the Partnership's Annual Report on Form 10-KSB, for a description of the accounting policies which have been continued without change. Also, refer to the footnotes to those statements for additional details of the Partnership's financial condition and results of operations. The details in those notes have not changed except as a result of normal transactions in the interim. In the opinion of the general partner, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at August 31, 2002 and for all periods presented have been made. The results for the three and nine-month periods ended August 31, 2002 are not necessarily indicative of the results which may be expected for the entire year. Certain reclassifications have been made to the prior period amounts to conform to the current period presentation. (a) Description of Business The Partnership is a limited partnership organized under the laws of the State of Missouri on February 9, 1982. The Partnership was organized to invest primarily in income-producing real properties such as shopping centers, office buildings and other commercial properties, apartment buildings, warehouses, and light industrial properties. The Partnership's portfolio is comprised of a 402-unit apartment building located in West St. Louis County, Missouri (Woodhollow Apartments). (b) Basis of Accounting The financial statements include only those assets, liabilities, and results of operations of the partners which relate to the business of Maxus Real Property Investors-Four, L.P. The statements do not include assets, liabilities, revenues or expenses attributable to the partners' individual activities. No provision has been made for federal and state income taxes since these taxes are the responsibility of the partners. (The remainder of this page left blank intentionally.) 6 ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION This 10-QSB contains forward-looking information (as defined in the Private Securities Litigation Reform Act of 1995) that involves risk and uncertainty, including trends in the real estate investment market, general market conditions, projected leasing and sales, and future prospects for the Partnership. Actual results could differ materially from those contemplated by such statements. CRITICAL ACCOUNTING POLICIES Refer to the Financial Statements of the Partnership for the year ended November 30, 2001, which are contained in the Partnership's Annual Report in Form 10-KSB, for a description of the accounting policies, which have been continued without change, unless otherwise noted herein. 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 amounts reported in the accompanying financial statements. The most significant assumptions and estimates relate to revenue recognition for leases, treatment of capital expenditures, depreciable lives of investment property and the valuation of investment property. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates. Revenue Recognition Lease agreements are accounted for as operating leases, and rentals from such leases are reported as revenues ratably over the terms of the leases. Investment Property Useful Lives The Partnership is required to make subjective assessments as to the useful lives of its property for the purposes of determining the amount of depreciation to reflect on an annual basis with respect to the property. These assessments have a direct impact on the Partnership's net income. Investment property is depreciated over its estimated useful life of 30 years using the straight-line method. Furnishings and appliances are depreciated from 5 to 7 years using the straight-line method. Capital Expenditures For reporting purposes, the Partnership capitalizes all carpet, flooring, vinyl, and HVAC replacements. The Partnership expenses all other expenditures that total less than $10,000. Expenditures over $10,000 and expenditures related to contracts over $10,000 are evaluated individually for proper treatment. Impairment of Investment Property Values The Partnership is required to make subjective assessments as to whether there are impairments in the value of its investment property. Management's estimates of impairment in the value of the investment property have a direct impact on the Partnership's net income. Effective January 1, 2002, the Partnership applies Statement of Financial Accounting Standards (SFAS) No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, for the recognition and measurement of impairment of long-lived assets to be held and used and assets to be disposed of. Management reviews the property for impairment whenever events or changes in circumstances indicate that the carrying value of the property may not be recoverable. 7 LIQUIDITY AND CAPITAL RESOURCES Cash as of August 31, 2002 was $999,000, a decrease of $49,000 from November 30, 2001. Cash provided from operating activities for the nine months ended August 31, 2002 was $678,000, which is consistent with results from the same period in 2001. Investing activities used $262,000 due to investment in property improvements. Cash used in financing activities was $465,000, comprised of $365,000 of distributions of $10 per limited partner unit, which were paid in each of January, April, and July of 2002, and $97,000 to repurchase 228 limited partner units. An additional $3,000 of transfer fees were paid to repurchase the units. Contractual Obligations The mortgage note payable is secured by Woodhollow Apartments and calls for monthly interest payments of $61,000, with interest fixed at 7.45%. The principal balance is due December 1, 2010. In the event of prepayment by the Partnership, the note requires a substantial prepayment penalty. The Partnership does not utilize any off balance sheet financing or leasing transaction of any kind. RESULTS OF OPERATIONS For the three and nine month periods ended August 31, 2002, the Partnership's revenues were $724,000 and $2,190,000, respectively. Revenues decreased by $27,000 (3.6%) for the three-month period ended August 31, 2002 as compared to the same period in 2001. This decrease was due primarily to an increase in vacancy loss. Revenues increased by $8,000 (.4%) for the nine-month period ended August 31, 2002, due primarily to an increase in miscellaneous income (primarily laundry income) of $29,000 offset by a decrease in net rental income of $18,000. For the three and nine month periods ended August 31, 2002, the Partnership's expenses were $743,000 and $2,125,000, respectively. Expenses decreased by $37,000 (4.7%) for the three-month period ended August 31, 2002 as compared to the same period in 2001. The decrease in expenses was primarily due to a decrease in repairs and maintenance of $31,000, and professional fees of $14,000. Expenses increased $4,000 (.2%) for the nine-month period ended August 31, 2002 as compared to the same period in 2001. Woodhollow was 95% occupied at August 31, 2002. Based on industry information, the average occupancy of the sub-market Woodhollow competes with is in the low to mid 90% range. In 2002, unemployment rose above 6% in the St. Louis area for the first time since 1993. The rate is expected to continue to stay at higher levels until the end of 2003. Interest rates remain low, which normally increases losses of tenants who move out of apartments when they purchase homes. Economic development is expected to continue in St. Louis, with various projects such as new retail developments and an airport expansion being planned. These developments are expected lead to a decrease in the unemployment rate. ITEM 3: CONTROLS AND PROCEDURES. Under the supervision and with the participation of the management of Maxus Capital Corp., the Partnership's general partner, including Maxus Capital Corp.'s chief executive officer and chief financial officer, the Partnership has evaluated the effectiveness of the design and operation of the Partnership's disclosure controls and procedures within 90 days of the filing date of this quarterly report, and, based on their evaluation, Maxus Capital Corp.'s chief executive officer and chief financial officer have concluded that these controls and procedures are effective. There were no significant changes in the Partnership's internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation. 8 PART II. OTHER INFORMATION ITEM 1: LEGAL PROCEEDINGS O. Bruce Mills v. Maxus Capital Corp. and Maxus Real Property Investors-Four, L.P., Cause No. 01CC-004237, Circuit Court of St. Louis County, Missouri. On December 11, 2001, Mills filed suit against the Partnership and the Partnership's General Partner, Maxus Capital Corp., in St. Louis County, Missouri alleging that the Partnership and Maxus Capital Corp. had refused to recognize Mills as the owner and limited partner of units that were tendered to him and that the Partnership and Maxus Capital Corp. had converted distributions allegedly owed to Mills. Mills also brought a claim for injunctive relief. On December 19, 2001, a hearing was held on Mills' request for injunctive relief in which Mills sought an order from the Court recording on the books and records of the Partnership Mills as the owner for units that were tendered to him during his tender offer and seeking the escrow of any distributions made by the Partnership for the units tendered to Mills. The Court refused to exempt Mills from complying with the transfer requirements to have units transferred on the books and records of the Partnership but the Court did require that the Partnership escrow any distributions made for units tendered to Mills until such time as the Court can determine who should receive the distributions. Mills was required to post a $7,000 bond as security for the relief granted by the Court. During the past nine months the parties have pursued discovery regarding the issues in dispute to prepare the case for trial, scheduled for October 7, 2002. However, before the scheduled trial date, the Partnership and Maxus Capital Corp. filed a motion for summary judgment seeking a decision from the Court on certain key issues. Because of this pending motion, the parties and the Court agreed to reschedule the trial for sometime early next year, if the case is not resolved by the Court's decision on the summary judgment motion. ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS The Partnership commenced an odd-lot offer to purchase the units of holders of nine units or less on May 24, 2002. This offer expired on June 24, 2002 and as of August 31, 2002, the Partnership purchased 228 units at $425 per unit. At August 31, 2002, there were 11,945 outstanding units. An additional 17 units were received by the Partnership, which the Partnership intends to purchase when the transfer document deficiencies related to these units are cured. Deficiencies related to 12 units were cured by September 16, 2002, and as a result, there are 11,933 units outstanding as of October 1, 2002. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS None 9 ITEM 5. OTHER INFORMATION The Board of Directors of the Partnership's general partner (Maxus Capital Corp.) declared a cash distribution of $10 per limited partnership unit that was paid on each of January 10, April 10, July 10, and October 10, 2002 to holders of record as of January 1, April 1, July 1, and October 1, 2002, respectively. The Partnership anticipates continuing such quarterly distributions, at least in the near future. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits See Exhibit Index on Page 14 (b) Reports on Form 8-K No reports on Form 8-K were filed by the Registrant during the third quarter of 2002. 10 SIGNATURES In accordance with the requirements of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. By: MAXUS CAPITAL CORP. General Partner Dated: October 14, 2002 By: /s/ Danley K. Sheldon --------------------- Danley K. Sheldon President and Chief Executive Officer (Principal Executive Officer) Dated: October 14, 2002 By: /s/ John W. Alvey --------------------- John W. Alvey Vice President, Treasurer and Chief Financial Officer (Principal Financial and Accounting Officer) 11 CERTIFICATION OF THE QUARTERLY REPORT OF MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. I, Danley K. Sheldon, certify that: 1. I have reviewed this quarterly report on Form 10-QSB of Maxus Real Property Investors-Four, L.P.; 2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report; 3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: October 14, 2002 /s/ Danley K. Sheldon --------------------- Danley K. Sheldon President and Chief Executive Officer of Maxus Capital Corp., General Partner of the Registrant 12 CERTIFICATION OF THE QUARTERLY REPORT OF MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. I, John W. Alvey, certify that: 1. I have reviewed this quarterly report on Form 10-QSB of Maxus Real Property Investors-Four, L.P.; 2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report; 3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: October 14, 2002 /s/ John W. Alvey ----------------- John W. Alvey Vice President, Treasurer, and Chief Financial Officer of Maxus Capital Corp., General Partner of the Registrant 13 EXHIBIT INDEX Exhibit Number Description 3.1 Amended and Restated Agreement and Certificate of Limited Partnership dated April 7, 1982 is incorporated by reference to the Form 10-K for the year ended November 30, 1999 filed by the Registrant under the Securities Act of 1933 (File No. 000-11023). 3.2 Amendment of Certificate of Limited Partnership date December 21, 1999 is incorporated by reference to the Form 8-K filed by the Registrant on January 21, 2000 under the Securities Act of 1933 (File No. 000-11023). 99.1 Certification of Chief Executive Officer Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of the Sarbanes-Oxley Act of 2002. 99.2 Certification of Chief Financial Officer Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 of the Sarbanes-Oxley Act of 2002. 14 EX-99 3 sarbanes-oxley1.txt 906 CERTIFICATION Exhibit 99.1 MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly Report of Maxus Real Property Investors-Four, L.P. (the "Partnership") on Form 10-QSB for the period ending August 31, 2002 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Danley K. Sheldon, President and Chief Executive Officer of Maxus Capital Corp., General Partner of the Partnership, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership as of August 31, 2002 (the last date of the period covered by the Report). /s/ Danley K. Sheldon - --------------------- Danley K. Sheldon President and Chief Executive Officer of Maxus Capital Corp., General Partner of the Partnership October 14, 2002 EX-99 4 sarbanes-oxley2.txt 906 CERTIFICATION Exhibit 99.2 MAXUS REAL PROPERTY INVESTORS-FOUR, L.P. CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly Report of Maxus Real Property Investors-Four, L.P. (the "Partnership") for the period ending August 31, 2002 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, John W. Alvey, Vice President, Treasurer, and Chief Financial Officer of Maxus Capital Corp., General Partner of the Partnership, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership as of August 31, 2002 (the last date of the period covered by the Report). /s/ John W. Alvey - ----------------- John W. Alvey Vice President, Treasurer and Chief Financial Officer of Maxus Capital Corp., General Partner of the Partnership October 14, 2002 -----END PRIVACY-ENHANCED MESSAGE-----