COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2016

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

NOTE 9. COMMITMENTS AND CONTINGENCIES

From time to time, the Partnership is involved in various ordinary routine litigation incidental to their business. The Partnership either has insurance coverage or provides for any uninsured claims when appropriate. The Partnership is not involved in any material pending legal proceedings.

On November 19, 2016, a pipe broke at 62 Boylston Street in Boston, MA., resulting in water damage to 24 apartments.The Partnership has insurance coverage on both the repairs and rental loss. As of December 31, 2016, the Partnership has not received any payments on this claim, and has an estimated insurance recovery receivable of  approximately $701,000, which is included on the balance sheet as of December 31, 2016.