Alton M. Towles, Jr. - Page 3




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          to different tenants (tenants).  At the time Ms. Towles and Mr.             
          Towles acquired the Paradise Lane property, four of those units             
          were located on the second floor of the building situated on that           
          property, and two of them were located on the ground floor of               
          that building.  Two of the four second-floor apartment units were           
          two-bedroom units, and two of them were one-bedroom units.  When            
          Ms. Towles and Mr. Towles acquired the Paradise Lane property and           
          throughout the years at issue, there were six parking spaces that           
          were under cover and two parking spaces that were not under cover           
          on that property.                                                           
               In March 1993, a so-called no-name storm (storm) occurred              
          that ripped the dock for the Paradise Lane property from its                
          concrete pilings and caused certain water and wind damage to the            
          two ground-floor apartment units, but no damage to the four                 
          second-floor apartment units, at that property.  Because of the             
          storm damage to the two ground-floor apartment units, the oc-               
          cupants had to vacate those units while repairs were made to                
          them.  Those tenants were able to move back into those apartment            
          units within ten days to two weeks after the storm.                         
               Although petitioners had insurance coverage for loss of                
          business income with respect to the Paradise Lane property, they            
          made no claim for any income lost as a result of the storm.                 
               In mid-May 1993, all of the tenants of the apartment units             
          at the Paradise Lane property, except Adrienne Renee Nichols (Ms.           





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