Partners' Capital

12 Months Ended

Dec. 31, 2013

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(7) Partners’ Capital –

For the years ended December 31, 2013 and 2012, the Partnership declared distributions of $1,474,752 and $1,175,746, respectively.  The Limited Partners received distributions of $1,460,005 and $1,163,988 and the General Partners received distributions of $14,747 and $11,758 for the years, respectively. The Limited Partners' distributions represented $64.45 and $51.37 per Limited Partnership Unit outstanding using 22,653 and 22,661 weighted average Units in 2013 and 2012, respectively. The distributions represented $64.45 and $28.78 per Unit of Net Income and $0 and $22.59 per Unit of return of capital in 2013 and 2012, respectively.

As part of the distributions discussed above, the Partnership distributed net sale proceeds of $455,194 and $94,675 in 2013 and 2012, respectively. The Limited Partners received distributions of $450,642 and $93,728 and the General Partners received distributions of $4,552 and $947 for the years, respectively. The Limited Partners’ distributions represented $19.88 and $4.14 per Unit for the years, respectively.

The Partnership may acquire Units from Limited Partners who have tendered their Units to the Partnership. Such Units may be acquired at a discount. The Partnership will not be obligated to purchase in any year any number of Units that, when aggregated with all other transfers of Units that have occurred since the beginning of the same calendar year (excluding Permitted Transfers as defined in the Partnership Agreement), would exceed 5% of the total number of Units outstanding on January 1 of such year. In no event shall the Partnership be obligated to purchase Units if, in the sole discretion of the Managing General Partner, such purchase would impair the capital or operation of the Partnership.

During 2013, the Partnership did not redeem any Units from the Limited Partners. During 2012, two Limited Partners redeemed a total of 10 Partnership Units for $2,607 in accordance with the Partnership Agreement. The Partnership acquired these Units using Net Cash Flow from operations. The redemptions increase the remaining Limited Partners' ownership interest in the Partnership. As a result of these redemption payments and pursuant to the Partnership Agreement, the General Partners received distributions of $27 in 2012.