-----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, WUlL8ei6s6U+lnL5K7a4/TNz1lix0WxcwVY9AYet3aar5ToXaOAQFczZx+SF6J7D I4IMVTe5t4nB2EnNQAW5rA== 0000950168-95-001001.txt : 19951121 0000950168-95-001001.hdr.sgml : 19951121 ACCESSION NUMBER: 0000950168-95-001001 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951113 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BASS MORTGAGE INCOME FUND I LIMITED PARTNERSHIP CENTRAL INDEX KEY: 0000799568 STANDARD INDUSTRIAL CLASSIFICATION: 6500 IRS NUMBER: 561529726 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-16795 FILM NUMBER: 95589473 BUSINESS ADDRESS: STREET 1: PO BOX 23343 CITY: HILTON HEAD ISLAND STATE: SC ZIP: 29925 BUSINESS PHONE: 8037576660 10-Q 1 MARION BASS INC. FUND I LIM. PART. FORM 10-Q SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark one) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended.........................September 30, 1995 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 0-16795 BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP - - - ---------------------------------------------------------------------------- (Exact name of partnership as specified in its charter) Ohio 56-1529726 - - - ---------------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) P.O. Box 23343 Hilton Head Island, South Carolina 29925 - - - ------------------------------------------------------------------------------ (Address of principal executive office) (Zip Code) Partnership's telephone number, including area code: (803) 757-6660 ------------ Indicate by check mark whether the partnership (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 partnership was required to file such reports), and [2] has been subject to such filing requirements for the past 90 days. YES X NO ------- -------- BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP
INDEX ------- PAGE NUMBER PART I. FINANCIAL INFORMATION: Item 1. Financial Statements Condensed Balance Sheet as of September 30, 1995 (Unaudited) 3 Condensed Statement of Income Three months and nine months ended September 30, 1995 and 1994 (Unaudited) 4 Statement of Partners' Equity 5 (Unaudited) Condensed Statement of Cash Flows Nine months ended September 30, 1995 and 1994 (Unaudited) 6 Notes to Condensed Financial Statements (Unaudited) 7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 11 PART II. OTHER INFORMATION SIGNATURES 14
-2- BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP CONDENSED BALANCE SHEET
September 30, December 31, 1995 1994 ------------------ ----------------- ASSETS (Unaudited) ------- MORTGAGE LOANS TO AFFILIATES: Mortgage loans to affiliates $12,974,598 $12,974,598 Allowance for losses (957,000) (957,000) ------------------ ----------------- 12,017,598 12,017,598 NONRECOURSE PROMISSORY NOTES 53,833 53,833 INTEREST RECEIVABLE FROM AFFILIATES 465,187 306,015 CASH AND CASH INVESTMENTS 224,424 262,157 ------------------ ----------------- Total assets $12,761,042 $12,639,603 ================== ================= PARTNERS' EQUITY ------------------- PARTNERS' EQUITY: Limited partners' interest $12,664,452 $12,553,302 General partners' interest 96,590 86,301 ------------------ ----------------- Total partners' equity $12,761,042 $12,639,603 ================== =================
The accompanying notes are an integral part of the financial statements. -3- BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP CONDENSED STATEMENT OF INCOME (Unaudited)
Three months Nine months Three months Nine months ended ended ended ended September 30, September 30, September 30, September 30, 1995 1995 1994 1994 --------------- --------------- --------------- --------------- INTEREST INCOME: Interest on mortgage loans to affiliates $383,702 $1,137,741 $352,452 $988,138 Other 2,038 6,227 1,386 4,150 --------------- --------------- --------------- --------------- 385,740 1,143,968 353,838 992,288 --------------- --------------- --------------- --------------- EXPENSES: Administrative fee to affiliate 6,250 18,750 6,250 18,750 Legal and other restructuring expenses 16,670 67,094 128 58,539 Partnership operating expenses 13,255 29,185 7,498 20,273 --------------- --------------- --------------- --------------- NET INCOME $349,565 $1,028,939 $339,962 $894,726 =============== =============== =============== =============== NET INCOME ALLOCATED TO GENERAL PARTNERS $3,496 $10,289 $3,400 $8,947 =============== =============== =============== =============== NET INCOME ALLOCATED TO LIMITED PARTNERS $346,069 $1,018,650 $336,562 $885,779 =============== =============== =============== =============== NET INCOME PER LIMITED PARTNERSHIP UNIT, based on number of units outstanding (1,470,500) $0.24 $0.69 $0.23 $0.60 =============== =============== =============== ===============
The accompanying notes are an integral part of the financial statements. -4- BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP STATEMENT OF PARTNERS' EQUITY (Unaudited)
Limited General Partners Partners Total ---------------- ---------------- -------------- Balance, January 1, 1995 $12,553,302 $86,301 $12,639,603 Net income 1,018,650 10,289 1,028,939 Distribution to partners (907,500) 0 (907,500) ---------------- ---------------- -------------- Balance, September 30, 1995 $12,664,452 $96,590 $12,761,042 ================ ================ ============== Limited General Partners Partners Total ---------------- ---------------- -------------- Balance, January 1, 1994 $12,478,520 $73,511 $12,552,031 Net income 885,779 8,947 894,726 Distribution to partners (871,451) 0 (871,451) ---------------- ---------------- -------------- Balance, September 30, 1994 $12,492,848 $82,458 $12,575,306 ================ ================ ==============
The accompanying notes are an integral part of the financial statements. -5- BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP CONDENSED STATEMENT OF CASH FLOWS (Unaudited)
Nine months Nine months ended ended September 30, September 30, 1995 1994 ------------------- ----------------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income $1,028,939 $894,726 Adjustments to reconcile net income to net cash provided by operating activities- Change in assets and liabilities: Amortization of deferred mortgage loan fees 0 (4,194) Increase in interest receivable from affiliates (159,172) (71,495) ------------------- ----------------- Net cash provided by operating activities 869,767 819,037 ------------------- ----------------- CASH FLOWS FROM FINANCING ACTIVITIES: Distribution to partners (907,500) (871,451) ------------------- ----------------- NET DECREASE IN CASH AND CASH INVESTMENTS (37,733) (52,414) CASH AND CASH INVESTMENTS, beginning of year 262,157 313,743 ------------------- ----------------- CASH AND CASH INVESTMENTS, September 30 $224,424 $261,329 =================== =================
The accompanying notes are an integral part of the financial statements. -6- BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) 1. ORGANIZATION Bass Mortgage Income Fund I, Limited Partnership (the Partnership) is an Ohio limited partnership, formed for the purpose of investing in assumable, nonrecourse first mortgage loans on apartment complexes owned by seven real estate limited partnerships (collectively the Borrower Partnerships) that are affiliates of Marion F. Bass (the Individual General Partner) and Marion Bass Mortgage and Investment Corp., (the Managing General Partner). Marion Bass Mortgage and Investment Corp. is wholly owned by Marion F. Bass. Under the terms of the partnership agreement, net income (loss) and cash distributions from operations are to be allocated 99% to the Limited Partners and 1% to the General Partners. Upon liquidation of the Partnership, the partnership agreement provides for the following distribution of the Partnership's net assets: (Bullet) First, to the payment of creditors of the Partnership (if any) but excluding secured creditors whose obligations will be assured or otherwise transferred on the liquidation of Partnership assets; (Bullet) Second, to the Partners in proportion to and to the extent of the positive balances in their capital accounts until each partner's adjusted contribution, as defined, has been returned, and (Bullet) Third, 70% to the Limited Partners and 30% to the General Partners. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Partnership records are maintained on the accrual basis of accounting in accordance with generally accepted accounting principles. In the opinion of management, the accompanying unaudited financial statements reflect all adjustments (which include only normal recurring adjustments) necessary to present fairly the Partnership's financial position as of September 30, 1995, results of operations for the three months and nine months ended September 30, 1995 and 1994 and cash flow for the nine months ended September 30, 1995 and 1994. 3. MORTGAGE LOANS TO AFFILIATES AND ALLOWANCE FOR LOAN LOSSES In 1987, the Partnership invested in seven first mortgage loans secured by apartment complexes owned by the Borrower Partnerships. Each of the mortgage loans was evidenced by a 15-year, nonrecourse promissory note requiring only payments of interest at 11.75% prior to maturity. In 2002, the Borrower Partnerships' ability to continue as a going concern is dependent upon the refinancing of the mortgage loans. In the event the Borrower Partnerships' efforts to renegotiate or otherwise refinance the mortgage loans are unsuccessful, it is doubtful whether the Borrower Partnerships would be able to continue operating in the normal course of business. In the event that the debt service requirements are not met by the Borrower Partnerships, the carrying amounts of the mortgage loans to affiliates would most likely not be realizable. While the Managing General Partner believes, that, absent adverse financial circumstances, the principal amount of the mortgages and the full amount of all deferred and accrued interest will be paid, there can be no assurances that the Borrower Partnerships will be able to refinance their properties or sell their properties in order to generate those payments. 7 BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP In order to record probable incurred losses on the mortgage loans to affiliates, the Partnership has reserved an allowance for losses which is based on a review of individual loans, projected and actual cash flows of the Borrower Partnerships, current economic conditions, the estimated fair value of underlying collateral and other factors. Actual losses may vary from current estimates. These estimates are reviewed periodically and adjustments are made as deemed necessary. A summary of the mortgage loans to affiliates and allowance for loan losses as of September 30, 1995 are as follows:
Name of Final Face Allowance Net Apartment Maturity Amount of Direct Adjusted for Loan Carrying Complex Date Mortgage Write-downs Cost Losses Amount - - - ------------------- ------------ ------------- --------------- ------------- ------------ -------------- Wendover Glen 01/14/2002 $2,630,000 ($100,000) $2,530,000 ($397,000) $2,133,000 Sharon Ridge I 01/14/2002 640,000 (26,000) $614,000 (28,000) $586,000 Sharon Ridge II 02/04/2002 800,000 (12,900) $787,100 0 $787,100 The Chase 03/16/2002 2,856,278 (350,000) $2,506,278 0 $2,506,278 The Landing 04/29/2002 3,334,920 0 $3,334,920 (469,000) $2,865,920 The Courtyard 05/22/2002 1,550,000 (312,000) $1,238,000 (63,000) $1,175,000 The Oaks 12/09/2002 2,000,000 (35,700) $1,964,300 0 $1,964,300 ------------- --------------- ------------- ------------ -------------- $13,811,198 ($836,600) $12,974,598 ($957,000) $12,017,598 ============= =============== ============= ============ ==============
4. RELATED PARTY TRANSACTIONS The Partnership pays the Managing General Partner, Marion Bass Mortgage and Investment Corp., an annual administrative fee of $25,000 to perform daily investment management and administrative functions for the Partnership. 5. SUBSEQUENT EVENT On October 15, 1995, the Partnership made a cash distribution of $293,000 ($.20 per limited partner unit) relating to the third quarter of 1995. 6. RENTAL PROPERTIES Summarized financial information as of September 30, 1995 and 1994, for each of the properties is presented as follows:
Rental Revenue ------------------------------ Property 1995 1994 -------------------------------- ------------- -------------- Wendover Glen $370,728 $338,266 Sharon Ridge I 128,204 118,639 Sharon Ridge II 188,185 175,442 The Chase 524,068 460,942 The Landing 498,137 468,405 The Courtyard 255,428 232,620 The Oaks 391,880 368,337 ------------- -------------- $2,356,630 $2,162,651 ============= ==============
8 BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP
Net Income (Loss) Exclusive of Depreciation ------------------------------ Property 1995 1994 -------------------------------- ------------- -------------- Wendover Glen $7,264 ($8,455) Sharon Ridge I 24,506 9,843 Sharon Ridge II 43,320 31,712 The Chase 89,236 18,771 The Landing 38,551 20,518 The Courtyard 31,752 (3,780) The Oaks 97,462 69,915 ------------- -------------- $332,091 $138,524 ============= ============== 7. RESTRUCTURE OF MORTGAGE LOANS TO AFFILIATES In January 1994, the Borrower Partnerships and the Partnership approved the terms of a troubled-debt restructuring of the mortgage loans. The restructured loan agreement includes the following provisions: (Bullet) The interest rate has been reduced from 11.75% to 9.5% for the period from September 1, 1991, through September 30, 1992. Beginning October 1, 1992, through maturity, the interest rate is 7% (the Stated Interest Rate) per year. In addition to the Stated Interest Rate, the Borrower Partnerships pay additional interest on a quarterly basis to the extent of net cash flow from operations, as defined, with total interest payments not to exceed 9.5% per annum. (Bullet) Each of the Borrower Partnerships has executed a nonrecourse promissory note in the amount of $750,070 representing certain interest deferred during the period from September 1, 1991 through December 31, 1992. The interest deferred was calculated at 9.5% per year for each month of deferral. These promissory notes bear interest at 9.5% per year and are secured by a deed of trust on the property collateralizing the mortgage loans. The principal and interest on these promissory notes are due and payable on the maturity of the mortgage loans, except that prepayments in full will be permitted at the same time the mortgage loans are paid. There can be no assurance that the Borrower Partnerships, individually or collectively, will have the funds necessary at maturity to pay the principal balance of the mortgage loans plus the amount due under these promissory notes. (Bullet) Tax escrow and replacement reserves will continue to be funded monthly as required by the restructured loan agreements. These reserves have been pledged by the Borrower Partnerships as additional collateral for the loans. (Bullet) The restructuring involves certain considerations given by members of the Marion Bass Group to induce the Partnership to enter into the restructuring proposal with the Borrower Partnerships. The amounts of all loans made, interest related to such loans, and accrued but unpaid property management fees totaling $1,017,280 have been converted to individual nonrecourse, subordinated promissory notes from each of the Borrower Partnerships to applicable members of the Marion Bass Group. The notes bear interest at the applicable federal rates as provided by the Internal Revenue Service and are due and payable upon maturity of the mortgage loans. Statement of Financial Accounting Standards No. 15, "Accounting by Debtors and Creditors for Troubled Debt Restructuring," requires the Partnership to recognize the effects of the restructuring prospectively and, therefore, beginning January 1994, interest income on mortgage loans to affiliates has 9 BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP been computed by applying a constant effective interest rate (8.8% at September 30, 1995) to the recorded investment in the mortgage loans at the beginning of each period between restructuring and maturity. This effective rate is the discount rate that equates the present value of all expected future cash receipts with the carrying amount of the mortgage loans and accrued interest outstanding at the date of restructuring. Interest will not be accrued on those loans where a default of principal or interest exists under the terms of the restructuring, or if collection of the principal or interest is considered doubtful. Mortgage interest income of $1,217,112 would have been recognized for the period ended September 30, 1995, had the Borrower Partnerships been current in accordance with the original terms of the mortgage loans. The Limited Partners have approved the proposal from the Borrower Partnerships that will result in the negotiated prepayment of the mortgage loans and promissory notes payable to the Partnership. Until the date of receipt of the minimum payment of $12,260,000, the Borrower Partnerships will be liable for interest on the loans and that interest outstanding will be due monthly until such receipt of payment. The Borrower Partnerships have until November 30, 1995 to fund the minimum payment. There is no assurance that the Borrower Partnerships will be able to meet the terms of the prepayment agreement. If they do not meet the terms, then the Partnership will not dissolve and shall continue its business. The accompanying financial statements do not reflect any adjustments related to the acceptance of this proposal. 10 BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Liquidity and Capital Resources At September 30, 1995, partners' equity was $12,761,042 and cash reserves amounted to $224,424. The Partnership's sole source of revenues is interest earned on mortgage loans to affiliates and interest earned on investments of monthly collections between quarterly distributions and excess cash reserve funds. If the interest payments on the mortgage loans are not made to the Partnership, the Partnership will not have funds to distribute to limited partners. With the restructure of the mortgage loans to affiliates, the Partnership implemented the Statement of Financial Accounting Standards No. 15 entitled "Accounting by Debtors and Creditors for Troubled Debt Restructurings." This statement requires the Partnership to recognize the effects of the restructuring prospectively, and, therefore, not change the recorded investment in mortgage loans to affiliates at the time of restructuring. Interest income on mortgage loans to affiliates will be computed by applying a constant effective interest rate to the recorded investment in the mortgage loans. The Partnership has accepted the proposal from the Borrower Partnerships that will result in the negotiated prepayment of the mortgage loans and promissory notes payable to the Partnership. Until the date of receipt of the minimum payment of $12,260,000, the Borrower Partnerships will be liable for interest on the loans and that interest outstanding will be due monthly until such receipt of payment. The Borrower Partnerships have until November 30, 1995 to fund the minimum payment. There is no assurance that the Borrower Partnerships will be able to meet the terms of the prepayment agreement. If they do not meet the terms, then the Partnership will not dissolve and shall continue its business. The accompanying financial statements do not reflect any adjustments related to the acceptance of this proposal. Results of Operations The Partnership earned $383,702 in interest on mortgage loans to affiliates for the three months ended September 30, 1995. Applying the principles of Statement of Financial Accounting Standards No.15, the effective interest rate was 8.8%. Under the original terms of the mortgage loans to affiliates, the Partnership would have recognized $405,704 based on the interest rate of 11.75%. Total interest income of $385,740 for the three months ended September 30, 1995 is compared to $353,838 for the corresponding quarter in 1994. After deduction of an administrative fee to affiliate of $6,250, legal and other restructuring costs of $16,670 and partnership operating expenses of $13,255, the Partnership recognized a net income of $349,565 for the three months ended September 30, 1995. This is compared to a net income of $339,962 in 1994. Overall, the Partnership recognized a net increase in total interest income of $151,680 for the nine months ended September 30, 1995 compared to the corresponding period in 1994. Total expenses increased $17,467 due mainly to incurring legal and other expense associated with partnership activities and the prepayment agreement. The Partnership recognized a net income of $1,028,939 after deduction of operating expenses for the nine months ended September 30, 1995. This is compared to a net income of $894,726 for the corresponding period in 1994. PART II. OTHER INFORMATION Item 1. Legal Proceedings Response: None 11 BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP Item 2. Changes in Securities Response: None Item 3. Defaults upon Senior Securities Response: None Item 4. Submission of Matters to a Vote of Security Holders Response: A special meeting of limited partners of the Partnership was held on July 31, 1995 for the purpose of consideration of a proposal to dissolve the Partnership on the prepayment of a discounted principal amount of the mortgage loans. At the meeting, limited partners holding 1,222,312 out of 1,470,500 outstanding units of limited partnership interest were represented by proxy. The proposal was approved by the affirmative vote of 820,298 units with 364,139 units voting against and 37,875 units abstaining. The percentages for approval were as follows: 55.8% of the outstanding units voted in favor and 67.1% of the units cast were voted in favor. Item 5. Other Information Response: None Item 6. Exhibits and Reports on Form 8-K (a) Exhibits 3(a) Copy of Amended and Restated Limited Partnership Agreement dated as of December 1, 1986, filed as Exhibit 3(a) to Partnership's Registration Statement on Form S-11 (No. 33-8312), filed as part of Amendment No. 2 with the Securities and Exchange Commission on December 2, 1986, which is incorporated by reference to such Form S-11. 3(b) Copy of Amended and Restated Certificate of Limited Partnership dated December 1, 1986, filed as Exhibit 3(b) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such form 10-K. 3(c) Copy of First Amendment to the Amended and Restated Certificate of Limited Partnership, dated January 14, 1987, filed as Exhibit 3(c) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such form 10-K. 3(d) Copy of First Amendment to Amended and Restated Agreement of Limited Partnership, dated January 14, 1987, filed as Exhibit 3(d) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 3(e) Copy of Second Amendment to the Amended and Restated Agreement of Limited Partnership date as of February 4, 1987, filed as 3(e) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 3(f) Copy of Second Amendment to the Amended and Restated Certificate of Limited Partnership, dated as of February 4, 1987, filed as Exhibit 3(f) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such form 10-K. 12 3(g) Copy of Third Amendment to the Amended and Restated Agreement of Limited Partnership, dated as of March 16, 1987, filed as Exhibit 3(g) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 3(h) Copy of Third Amendment to the Amended and Restated Certificate of Limited Partnership, dated as of March 16, 1987, filed as Exhibit 3(h) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 3(i) Copy of Fourth Amendment to the Amended and Restated Agreement of Limited Partnership, dated as of April 30, 1987, filed as Exhibit 3(i) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 3(j) Copy of Fourth Amendment to the Amended and Restated Certificate of Limited Partnership, dated as of April 30, 1987, filed as Exhibit 3(j) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such form 10-K. 3(k) Copy of Fifth Amendment to the Amended and Restated Agreement of Limited Partnership, dated as of May 22, 1987, filed as Exhibit 3(k) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 3(l) Copy of Fifth Amendment to the Amended and Restated Certificate of Limited Partnership, dated as of May 22, 1987, filed as Exhibit 3(l) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such form 10-K. 3(m) Copy of Sixth Amendment to the Amended and Restated Agreement of Limited Partnership, dated as of December 10, 1987, filed as Exhibit 3(m) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 3(n) Copy of Sixth Amendment to the Amended and Restated Certificate of Limited Partnership, dated as of December 10, 1987, filed as Exhibit 3(n) to Partnership's Form 10-K Annual Report, filed with the Securities and Exchange Commission, which is incorporated by reference to such Form 10-K. 4 Specimen Certificate for Units, filed as Exhibit 4 to Partnership's Registration Statement of Form S-11 (No. 33-8312), filed as part of Amendment No. 2 with the Securities and Exchange Commission on December 2, 1986, which is incorporate by reference to such Form S-11. (b) Reports on Form 8-K. No reports on Form 8-K were filed during the period covered by this report. 13 BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Partnership has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. BASS MORTGAGE INCOME FUND I, LIMITED PARTNERSHIP By: Marion Bass Mortgage and Investment Corp., as Managing General Partner By: Marion F. Bass, President Date: November 13, 1995 By: Robert J. Brietz, Executive Vice President Date: November 13, 1995 14
EX-27 2 EXHIBIT 27
5 Article 5 for 3rd Quarter 10-Q for Bass Mortgage Income Fund I. 9-MOS DEC-31-1995 SEP-30-1995 224,424 0 12,974,598 957,000 0 166,885 0 0 12,761,042 0 0 0 0 0 12,761,042 12,761,042 0 1,143,968 0 0 115,029 0 0 1,028,939 0 0 0 0 0 1,028,939 .69 .69
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