A NOTE FROM THE GENERAL PARTNER
Dear Unit Holders:
We are pleased to report that based upon the Partnership's lower mortgage debt service payments and continued strong Partnership operations during the second Quarter, the General Partner has elected to again increase the quarterly distribution. The distribution for the second quarter of 1999 is $611,126, or $.185 per unit held. The new amount represents a 2.8% increase from the $594,610 distributed in May for the first quarter of 1999.
Positive news
continues regarding the manufactured housing industry. As reported by the Manufactured Housing
Institute (MHI), through their website, favorable manufactured housing trends
continue. Of the trends mentioned by
the MHI, the most significant are the increased ability to put homes into
subdivisions using experienced developers, a growing share of the single family
housing market (approximately 25% of all single-family homes sold are
manufactured homes), improved home construction quality and appearance, and
most importantly, greater availability of traditional financing including
longer loan terms.
Sincerely,
Genesis Associates - The General Partner
UNIPROP, Inc. - its managing general partner
Paul M. Zlotoff, President