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accompanied their appraisal report when they referred to
$3,000,000 as the "retail price" of the units. In
comparing the aggregate fair market value of the properties
to the aggregate principal amount of the debt, we shall use
the retail values of the condominiums implied in the
reports of respondent's appraisers.
The following schedules show the aggregate retail
value of the properties purchased by each partnership as
compared to the aggregate debt:
EA 83-XII Properties Loan Value Loan � Value
1612 Hemphill Ave. $54,525 $57,400 94.99
1921 W. 17th St. 51,300 54,000 95.00
1728 Coronado Ave. 51,300 54,000 95.00
1700 Linda Ave. 54,050 56,900 94.99
1716 Coronado Ave. 54,050 56,900 94.99
1916 Hollywood Dr. 53,200 56,000 95.00
1720 Coronado Ave. 56,425 59,400 94.99
2109 Avignon Dr. 84,525 84,000 100.63
2111 Avignon Dr. 85,025 85,000 100.03
2113 Avignon Dr. 95,475 91,000 104.92
2115 Avignon Dr. 95,475 100,500 95.00
2117 Avignon Dr. 101,175 106,500 95.00
Paseos Castellanos 2,869,625 2,962,000 96.88
Total 3,706,150 3,823,600 96.93
EA 84-XII Properties Loan Value Loan � Value
5419 Heronwood Dr. $51,300 $58,000 88.45
5411 Heronwood Dr. 61,750 65,000 95.00
3518 Tower Hill Lane 60,550 63,750 94.98
12347 Northcliff Manor Dr.55,575 58,500 95.00
13066 Clarewood Dr. 54,150 57,000 95.00
6351 S. Briar Bayou Dr.58,425 61,500 95.00
12103 Kings Lake Forest Dr.57,475 60,500 95.00
12107 Kings Lake Forest Dr.47,975 50,500 95.00
12111 Kings Lake Forest Dr.53,200 56,000 95.00
12115 Kings Lake Forest Dr.60,800 64,000 95.00
12231 Carola Forest Dr.56,050 54,000 103.80
4850 West Ferret Dr. 67,450 71,200 94.73
4107 Medical Dr. 56,950 56,400 100.98
13739 Earlywood Dr. 60,800 57,600 105.56
6402 Ridgecreek Dr. 60,800 55,950 108.67
The Reflections 2,590,200 3,000,000 86.34
Total 3,453,450 3,889,900 88.78
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