Securities Lawyer's Deskbook                          published by The University of Cincinnati College of Law

Rule 12-28 -- Real Estate and Accumulated Depreciation (1)

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Column A  Column B  Column C    Column D      Column E      Column F    Column G    Column H    Column I

                                                                                                 Life on
                                              Gross                                             which de-
                     Initial   Cost capi-    amount at       Accumu-                            preciation
                      cost     talized      which car-      lated de-    Date of                in latest
Descript-  Encum-     to com-  subsequent     ried at       preciation   construc-   Date ac-   come state-
ion 2      brances    pany     to acquisi-   close of pe-                  tion       quired     ments is
                                  tion      riod 3,4,5,6,7                                       computed

                    _________  __________   ____________

                    Buildings                Buildings
                    and Land    Improve-     and Land
                     improve-   ments Car-   improve-
                      ments    rying costs   ments To-
                                               tal

1. All money columns shall be totaled.


2. The description for each property should include type of property (e.g., unimproved land, shopping center, garden apartments, etc.) and the geographical location.


3. The required information is to be given as to each individual investment included in column E except that an amount not exceeding 5 percent of the total of column E may be listed in one amount as "miscellaneous investments."


4. In a note to this schedule, furnish a reconciliation, in the following form, of the total amount at which real estate was carried at the beginning of each period for which income statements are required, with the total amount shown in column E:

              Balance at beginning of period........................$___________
                Additions during period:
                  Acquisitions through foreclosure......$___________
                  Other acquisitions................................
                  Improvements etc..................................
                  Other (describe) $

              Deductions during period:
                  Cost of real estate sold..............$___________
                  Other (describe).................................. 
                                                                    $___________

              Balance at close of period............................$___________

If additions, except acquisitions through foreclosure, represent other than cash expenditures, explain. If any of the changes during the period result from transactions, directly or indirectly with affiliates, explain the basis of such transactions and state the amounts involved.


A similar reconciliation shall be furnished for the accumulated depreciation.


5. If any item of real estate investments has been written down or reserved against, describe the item and explain the basis for the write-down or reserve.


6. State in a note to column E the aggregate cost for Federal income tax purposes.


7. The amount of all intercompany profits included in the total of column E shall be stated if material.

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