Note 5 - Transactions With Affiliated Parties

6 Months Ended

Jun. 30, 2013

Notes

Note 5 - Transactions With Affiliated Parties

NOTE 5 – TRANSACTIONS WITH AFFILIATED PARTIES

Under the terms of the Restated Certificate and Agreement of Limited Partnership, the Partnership is obligated to NAPICO for an annual management fee equal to 0.5 percent of the original remaining invested assets of the remaining partnerships and is calculated at the beginning of each year. Invested assets are defined as the costs of acquiring project interests, including the proportionate amount of the mortgage loans related to the Partnership's interest in the capital accounts of the respective partnerships. The fee was approximately $24,000 and $90,000 for the six months ended June 30, 2013 and 2012, respectively.

An affiliate of the General Partner is the local general partner in one of the Partnership’s two remaining Local Limited Partnerships.