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          <FormAndInfoAndMaterialsTxt>APPLICATIONS AVAILABLE AT 201 ANANAIS DARE STREET, MANTEO, NC 27954</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>JULY 15 2016</SubmissionDeadlinesTxt>
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            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27954</ZIPCd>
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          <GrantOrContributionPurposeTxt>REPURPOSE CURRENTLY UNUSED SPACE BESIDE COURTHOUSE</GrantOrContributionPurposeTxt>
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          <RecipientPersonNm>OUTER BANKS FAMILY YMCA</RecipientPersonNm>
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            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27959</ZIPCd>
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          <RecipientFoundationStatusTxt>PF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPPORT THE OPEN DOOR SCHOLARSHIP PROGRAM</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>OUTER BANKS HOSPITAL CANCER CENTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>4810 S CROATAN HIGHWAY</AddressLine1Txt>
            <CityNm>NAGS HEAD</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27959</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>PF</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO BUILD A GARDEN AREA FOR A NEW OUTPATIENT CENTER</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>50000</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <RelatedOrExemptFunctionIncmAmt>11</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <RelatedOrExemptFunctionIncmAmt>3845</RelatedOrExemptFunctionIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRentalIncomePersonalPropGrp>
          <RelatedOrExemptFunctionIncmAmt>69024</RelatedOrExemptFunctionIncmAmt>
        </NetRentalIncomePersonalPropGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>72880</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>72880</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="STM108">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>4950</Amt>
        <NetInvestmentIncomeAmt>4950</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>4950</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="STM126">
      <DepreciationPropertyGrp>
        <PropertyDesc>516 S MAIN HWY MANTEO NC 2020 BUILDINGS</PropertyDesc>
        <AcquiredDt>1999-09-22</AcquiredDt>
        <CostOrOtherBasisAmt>192689</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>115080</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>39</LifeRt>
        <CurrentYearExpenseAmt>4941</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>514 S MAIN HWY MANTEO NC ANNEX</PropertyDesc>
        <AcquiredDt>2002-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>80215</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>51048</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>33</LifeRt>
        <CurrentYearExpenseAmt>2431</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>140 SCARBOROUGH ST MANTEO NC LIVE OAKS</PropertyDesc>
        <AcquiredDt>2002-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>304192</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>193577</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>33</LifeRt>
        <CurrentYearExpenseAmt>9218</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>600 S MAIN HWY MANTEO NC VISTA</PropertyDesc>
        <AcquiredDt>2002-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>99279</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>63175</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>33</LifeRt>
        <CurrentYearExpenseAmt>3008</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>240 BURRUS ROAD WANCHESE NC 27981</PropertyDesc>
        <AcquiredDt>2002-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>62546</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>61091</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>21.5</LifeRt>
        <CurrentYearExpenseAmt>1455</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>BURRUS ROAD IMPROVEMENTS</PropertyDesc>
        <AcquiredDt>2018-09-30</AcquiredDt>
        <CostOrOtherBasisAmt>35000</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>5463</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>1273</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>BURRUS ROAD IMPROVEMENTS</PropertyDesc>
        <AcquiredDt>2019-04-01</AcquiredDt>
        <CostOrOtherBasisAmt>31441</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>4239</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>1143</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>NEW ROOF - ANNEX</PropertyDesc>
        <AcquiredDt>2019-12-01</AcquiredDt>
        <CostOrOtherBasisAmt>14500</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>1603</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>527</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HVAC - LIVE OAKS 5</PropertyDesc>
        <AcquiredDt>2019-04-25</AcquiredDt>
        <CostOrOtherBasisAmt>4369</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>590</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>159</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>NEW ROOF - 600 S MAIN</PropertyDesc>
        <AcquiredDt>2022-05-03</AcquiredDt>
        <CostOrOtherBasisAmt>13975</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>318</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>508</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>NEW GUTTERS - 600 S MAIN</PropertyDesc>
        <AcquiredDt>2022-08-16</AcquiredDt>
        <CostOrOtherBasisAmt>7025</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>96</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>255</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAND GRADING - BURRUS RD</PropertyDesc>
        <AcquiredDt>2022-03-15</AcquiredDt>
        <CostOrOtherBasisAmt>0</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>0</PriorYearDepreciationAmt>
        <ComputationMethodTxt>NDA</ComputationMethodTxt>
        <CurrentYearExpenseAmt>0</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SEPTIC PUMP - BURRUS</PropertyDesc>
        <AcquiredDt>2022-09-08</AcquiredDt>
        <CostOrOtherBasisAmt>2300</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>24</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>84</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>WINDOWS - 240 BURRUS</PropertyDesc>
        <AcquiredDt>2022-07-28</AcquiredDt>
        <CostOrOtherBasisAmt>3728</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>62</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>136</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>WINDOWS - 240 BURRUS</PropertyDesc>
        <AcquiredDt>2023-01-19</AcquiredDt>
        <CostOrOtherBasisAmt>4924</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>0</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>172</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HVAC - 514 S HWY 64</PropertyDesc>
        <AcquiredDt>2023-04-11</AcquiredDt>
        <CostOrOtherBasisAmt>5800</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>0</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>149</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HVAC - 600 S MAIN</PropertyDesc>
        <AcquiredDt>2023-06-29</AcquiredDt>
        <CostOrOtherBasisAmt>5950</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>0</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>117</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SEPTIC DRAIN FIELD - LIVE OAKS</PropertyDesc>
        <AcquiredDt>2023-12-07</AcquiredDt>
        <CostOrOtherBasisAmt>15000</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>0</PriorYearDepreciationAmt>
        <ComputationMethodTxt>ARR</ComputationMethodTxt>
        <LifeRt>27.5</LifeRt>
        <CurrentYearExpenseAmt>23</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpStockSchedule documentId="STM137">
      <InvestmentsCorporateStockGrp>
        <StockNm>CORPORATE STOCKS</StockNm>
        <EOYBookValueAmt>328585</EOYBookValueAmt>
        <EOYFMVAmt>329431</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsLandSchedule2 documentId="STM117">
      <InvestmentLandGrp>
        <CategoryOrItemTxt>INVESTMENTS LAND AND BUILDINGS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1184741</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>521965</AccumulatedDepreciationAmt>
        <BookValueAmt>662776</BookValueAmt>
        <EOYFMVAmt>3057500</EOYFMVAmt>
      </InvestmentLandGrp>
    </InvestmentsLandSchedule2>
    <OtherExpensesSchedule documentId="STM103">
      <OtherExpensesScheduleGrp>
        <Desc>RENTAL EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>84132</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>84132</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>84132</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="STM109">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>ADMIN FEES</CategoryTxt>
        <Amt>824</Amt>
        <NetInvestmentIncomeAmt>824</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>824</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="STM110">
      <TaxesDetail>
        <CategoryTxt>PROPERTY TAXES</CategoryTxt>
        <Amt>13733</Amt>
        <NetInvestmentIncomeAmt>13733</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>13733</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>INCOME TAXES</CategoryTxt>
        <Amt>2967</Amt>
        <NetInvestmentIncomeAmt>1924</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1924</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>