Overall, as illustrated in the following table, the Partnership's nine properties reported combined occupancy of 92.3%, (3,072/3,330 sites), versus 90.1% (3,000/3,330) for September 1996. The average monthly homesite rent as of September 30, 1997 was approximately $333, versus $326, an increase of 2.1% from September 1996.

Ardmor Village, in Lakeville, Minnesota, reported an occupancy of 95.0% (322/339 sites) as of September 30, 1997, versus 92.9% as of September 30, 1996. The average rent was approximately $310 per homesite as of September 30, 1997, versus $311 as of September 30, 1996. For the third quarter, Ardmor Village generated gross revenues of $271,585, 5.9% more than the $256,401 reported for the same quarter in 1996. Net operating income for the quarter was $110,533, 15.2% less than the $127,298 earned during the same quarter in 1996. The decrease in net operating income was the result of higher legal expenses related to evictions and required repair and maintenance to the communities' sewer and water system.

Improvement and maintenance actions undertaken during the quarter involved $20,680 in driveway and sidewalk repairs, and completing the installation of the underground sprinklers at the entrance. Site upgrades in the amount of $7,295 were done over the third quarter to accommodate the new homes being moved into the community. Management has $45,000 budgeted for road repairs that will begin during the next quarter.

Camelot Manor, in Grand Rapids, Michigan, reported an occupancy of 98.8% (331/335 sites) as of September 30, 1997, versus 94.6% as of September 30, 1996. The average rent was $305 per homesite as of September 30, 1997, versus $297 as of September 30, 1996, an increase of 2.7%. For the third quarter of 1997, Camelot Manor generated gross revenues of $284,376, 6.0% more than the $268,287 reported for the same quarter in 1996. Net operating income for the quarter was $147,806, 10.4% more than the $133,885 earned during the same quarter in 1996.

Improvement and maintenance actions undertaken during the quarter involved minor road repairs, and site and pedestal upgrades. During the next quarter, the community plans to replace the furniture in the offices and install an underground sprinkler system at the front entrance.

Country Roads, in Jacksonville, Florida, reported an occupancy of 91.7% (286/312 sites) as of September 30, 1997, versus 88.1% as of September 30, 1996. The average rent was $225 per homesite as of September 30, 1997, versus $215 during the same quarter of 1996, an increase of 4.7%. For the third quarter of 1997, Country Roads generated gross revenues of $198,097, 7.8% more than the $183,751 reported during the same quarter in 1996. Net operating income for the quarter was $35,733, versus $28,359 for the third quarter of 1996.

Improvement and maintenance actions undertaken at the community during the quarter included installing new electric pedestals at some sites, minor driveway repairs, and approximately $17,000 in costs associated with landscaping and planting trees around the office area.

Dutch Hills, in Haslett, Michigan, reported an occupancy of 92.8% (258/278 sites) as of September 30, 1997, versus 96.4% as of September 30, 1996. The average rent was $306 per homesite as of September 30, 1997, versus $295 as of September 30, 1996, an increase of 3.7%. For the third quarter, Dutch Hills generated gross revenues of $235,160, 6.5% more than the $220,735 reported during the same quarter in 1996. Net operating income was $120,478, 12.3% more than the $107,252 earned during the same quarter in 1996. Although occupancy is down compared to the same quarter in 1996 gross revenues and operating income have increased due to increases in the average rent and lower operating expenses.

Improvement and maintenance actions undertaken during the third quarter were limited to site upgrades to the piers and pedestals to accommodate the new larger homes.

El Adobe, in Las Vegas, Nevada, reported an occupancy of 98.9% (367/371 sites) as of September 30, 1997, versus 95.7% as September 30, 1996. The average rent on September 30, 1997 was $374 per homesite, versus $359 as of September 30, 1996, an increase of 4.2%. For the third quarter of 1997, El Adobe generated gross revenues of $417,441, 7.1% more than the $389,708 reported for the same quarter in 1996. Net operating income for the quarter was $263,947, an 18.5% increase over the $222,689 generated during the same quarter in 1996. The increase in net operating income is due to increased occupancy and higher average homesite rent combined with stable expenses.

Improvement and maintenance actions undertaken during the third quarter included driveway repairs, a new sidewalk from the parking lot to the door of the community center, and approximately $10,000 in new playground equipment.

As a result of the strong housing market in Las Vegas, occupancy at El Adobe has increased by 12 homesites, or 3.4%, since the third quarter of 1996. Management reported that three new homes were moved into the community over the third quarter and one home was moved out. With the current strong market conditions management anticipates occupancy to remain stable through the fourth quarter.

Paradise Village, in Tampa , Florida, reported an occupancy of 77.3% (472/611 sites) as of September 30, 1997, versus 71.0% as of September 30, 1996. The average rent as of September 30, 1997 was $282 per homesite, versus $271 as of September 30, 1996, an increase of 4.1%. For the third quarter of 1997, Paradise Village generated gross revenues of $351,209, 14.8% more than the $308,158 reported for the same quarter in 1996. Net operating income for the quarter was $54,156 compared to the $31,793 reported during the same quarter in 1996.

Improvement and maintenance actions undertaken during the quarter focused primarily on sidewalk and driveway repairs, replacement of the retaining walls throughout the community, and office decorations. Pruning and trimming the trees was also completed over the last quarter.

Stonegate Manor, in Lansing, Michigan, reported an occupancy of 94.5% (291/308 sites) as of September 30, 1997, versus 95.8% as of September 30, 1996. The average rent was $308 per homesite as of September 30, 1997, versus $297 as of September 30, 1996, an increase of 3.7%. For the third quarter of 1997, Stonegate Manor generated gross revenues of $284,370, 16.2% more than the $244,712 reported for the same quarter in 1996. Net operating income for the quarter was $154,769, 27% more than the $121,930 reported during the same quarter in 1996. The significant increase in income from 1996 to 1997 is due to a one time payment from the cable tv provider to let them provide additional services at the community.

Improvement and maintenance actions undertaken during the quarter involved primarily site and pedestal upgrades due to the increase in multi-sectional homes moving into the community which adds additional set up costs. Due to increases in operating expenses management has decided to postpone any other budgeted improvement and maintenance items until 1998.

Sunshine Village, in Davie, Florida, reported an occupancy of 93.0% (331/356 sites) as of September 30, 1997, versus 91.9% as of September 30, 1996. The average rent was $399 per homesite as of September 30, 1997, versus $381 as of September 30, 1996, an increase of 4.7%. For the third quarter of 1997, Sunshine Village generated gross revenues of $370,967, slightly more than the $363,104 reported for the same quarter in 1996. Net operating income was $203,741, 3.3% less than the $210,512 reported for the same quarter in 1996. The slight drop in net operating income is due to increased expenses.

Improvement and maintenance actions undertaken during the quarter involved the removal of old homes, the continuation of the pressure wash program, tree trimming throughout the community, and the installation of new playground equipment.

.

West Valley, in Las Vegas, Nevada, reported an occupancy of 98.6% (414/420 sites) as of September 30, 1997, which reflects no change from to the same quarter in 1996. The average rent was $430 per homesite as of September 30, 1997, versus $438 as of September 30, 1996. For the third quarter of 1997, West Valley generated gross revenues of $559,686, 5.7% more than the $529,618 reported during the same quarter in 1996. Net operating income was $366,566, 18.5% more than the $309,259 generated during the same quarter in 1996. The average monthly rent is lower due to a rollback related to the implementation of individual metering for residents' water use.

Improvement and maintenance actions undertaken during the quarter included approximately $30,000 in costs associated with the building of a new play structure. In addition, a pool awning was built and new furniture in the community center was purchased over the third quarter.

Net Partnership management expenses for the quarter amounted to $43,128. Expenses of $46,025 (data processing, accounting and legal expenses, appraisals and wages to employees of the Partnership) were offset by gross income of $2,897, generated by interest on the Partnership's reserves and transfer fees. The equivalent figures for the third quarter of 1996 were $38,035, $47,055 and $9,020, respectively.

ITEM 6. Exhibits and Reports on Form 8-K