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        <GrantOrContributionPdDurYrGrp>
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          <RecipientUSAddress>
            <AddressLine1Txt>1400 SPRING GARDEN ST</AddressLine1Txt>
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            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27412</ZIPCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
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        <GrantOrContributionPdDurYrGrp>
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            <CityNm>ANN ARBOR</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48109</ZIPCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>2000</Amt>
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        <GrantOrContributionPdDurYrGrp>
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            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>28723</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY</RecipientFoundationStatusTxt>
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          <Amt>2200</Amt>
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        <GrantOrContributionPdDurYrGrp>
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          <RecipientUSAddress>
            <AddressLine1Txt>220 N CAMDEN RD</AddressLine1Txt>
            <CityNm>WIHGATE</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>28174</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>4200</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>WRTP</RecipientPersonNm>
          <RecipientUSAddress>
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            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27615</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RELIGIOUS</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NCSU</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>UNIVERSITY BLVD</AddressLine1Txt>
            <CityNm>RALEIGH</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27695</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>UNC CHARLOTTE</RecipientPersonNm>
          <RecipientUSAddress>
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            <CityNm>CHARLOTTE</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>28223</ZIPCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>5900</Amt>
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        <GrantOrContributionPdDurYrGrp>
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            <AddressLine1Txt>4302 UNIVERSITY DR</AddressLine1Txt>
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            <StateAbbreviationCd>TX</StateAbbreviationCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>UNIVERSITY</RecipientFoundationStatusTxt>
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            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>27612</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>SCHOOL</RecipientFoundationStatusTxt>
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            <StateAbbreviationCd>TN</StateAbbreviationCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
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          <RecipientPersonNm>EASTMAN SCHOOL OF MUSIC</RecipientPersonNm>
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            <CityNm>ROCHESTER</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>14604</ZIPCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>SCHOOL</RecipientFoundationStatusTxt>
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            <StateAbbreviationCd>WV</StateAbbreviationCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>COLLEGE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
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        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
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      <DepreciationPropertyGrp>
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      <DepreciationPropertyGrp>
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      <DepreciationPropertyGrp>
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      <DepreciationPropertyGrp>
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      <DepreciationPropertyGrp>
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      <DepreciationPropertyGrp>
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      <DepreciationPropertyGrp>
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      <DepreciationPropertyGrp>
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        <ComputationMethodTxt>S/L</ComputationMethodTxt>
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      <DepreciationPropertyGrp>
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      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>821 MIAMI BLVD. PT1 AND 2; A-30</PropertyDesc>
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        <PriorYearDepreciationAmt>117387</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>1104 DELANO STREET 11 BL B SE; A-3 120777 DURHA</PropertyDesc>
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        <ComputationMethodTxt>S/L</ComputationMethodTxt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE AND LOT BELMONT DR 1</PropertyDesc>
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      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE AND LOT BELMONT DR 1</PropertyDesc>
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        <ComputationMethodTxt>S/L</ComputationMethodTxt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>1208 DELANO STREET PT7;A-36 130319 DURHA</PropertyDesc>
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      <DepreciationPropertyGrp>
        <PropertyDesc>1208 DELANO STREET PT7;A-36 130319 DURHA</PropertyDesc>
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        <ComputationMethodTxt>S/L</ComputationMethodTxt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>CARPET</PropertyDesc>
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        <PriorYearDepreciationAmt>2083</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>APPLIANCES</PropertyDesc>
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        <LifeRt>7.0000</LifeRt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>CARPET</PropertyDesc>
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        <PriorYearDepreciationAmt>3435</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.0000</LifeRt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>APPLIANCES</PropertyDesc>
        <AcquiredDt>2007-11-01</AcquiredDt>
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        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.0000</LifeRt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>CARPET</PropertyDesc>
        <AcquiredDt>2008-06-01</AcquiredDt>
        <CostOrOtherBasisAmt>4496</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>4496</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.0000</LifeRt>
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      <DepreciationPropertyGrp>
        <PropertyDesc>27% 5433 &amp; 5507 GUESS RD</PropertyDesc>
        <AcquiredDt>2019-12-23</AcquiredDt>
        <CostOrOtherBasisAmt>9012</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>27% 5435 &amp; 5513 GUESS RD</PropertyDesc>
        <AcquiredDt>2019-12-23</AcquiredDt>
        <CostOrOtherBasisAmt>75466</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>10977</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
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      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>27% 5435 &amp; 5513 GUESS RD</PropertyDesc>
        <AcquiredDt>2019-12-23</AcquiredDt>
        <CostOrOtherBasisAmt>8385</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>27% 5433 &amp; 5507 GUESS RD</PropertyDesc>
        <AcquiredDt>2019-12-23</AcquiredDt>
        <CostOrOtherBasisAmt>81109</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>11798</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
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        <CurrentYearExpenseAmt>2949</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>404 BLEMONT ST - REMODEL</PropertyDesc>
        <AcquiredDt>2021-06-23</AcquiredDt>
        <CostOrOtherBasisAmt>5847</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>540</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>27.5000</LifeRt>
        <CurrentYearExpenseAmt>213</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>1104 DELANO ST - REMODEL</PropertyDesc>
        <AcquiredDt>2021-12-06</AcquiredDt>
        <CostOrOtherBasisAmt>37650</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>2795</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>27.5000</LifeRt>
        <CurrentYearExpenseAmt>1369</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GLEN HAVEN APART - PLUMBING</PropertyDesc>
        <AcquiredDt>2021-10-11</AcquiredDt>
        <CostOrOtherBasisAmt>3415</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>274</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>27.5000</LifeRt>
        <CurrentYearExpenseAmt>124</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>40.75% BENNETT MEMORIAL ROAD</PropertyDesc>
        <AcquiredDt>2023-10-18</AcquiredDt>
        <CostOrOtherBasisAmt>1173600</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>6269</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>39.0000</LifeRt>
        <CurrentYearExpenseAmt>30093</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>40.75% BENNETT MEMORIAL ROAD - LAND</PropertyDesc>
        <AcquiredDt>2023-10-18</AcquiredDt>
        <CostOrOtherBasisAmt>135041</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GLEN HAVEN - IMPVROVEMENT</PropertyDesc>
        <AcquiredDt>2023-07-27</AcquiredDt>
        <CostOrOtherBasisAmt>4500</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>150</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>15.0000</LifeRt>
        <CurrentYearExpenseAmt>300</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GLEN HAVEN - IMPVROVEMENT</PropertyDesc>
        <AcquiredDt>2023-05-11</AcquiredDt>
        <CostOrOtherBasisAmt>2640</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>88</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>15.0000</LifeRt>
        <CurrentYearExpenseAmt>176</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GLEN HAVEN - HVAC</PropertyDesc>
        <AcquiredDt>2023-03-30</AcquiredDt>
        <CostOrOtherBasisAmt>3700</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>278</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>10.0000</LifeRt>
        <CurrentYearExpenseAmt>370</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GLEN HAVEN - HVAC</PropertyDesc>
        <AcquiredDt>2023-04-13</AcquiredDt>
        <CostOrOtherBasisAmt>3240</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>243</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>10.0000</LifeRt>
        <CurrentYearExpenseAmt>324</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GLEN HAVEN - CARPET</PropertyDesc>
        <AcquiredDt>2023-07-13</AcquiredDt>
        <CostOrOtherBasisAmt>3325</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>475</PriorYearDepreciationAmt>
        <ComputationMethodTxt>200DB</ComputationMethodTxt>
        <LifeRt>7.0000</LifeRt>
        <CurrentYearExpenseAmt>814</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>15.8% ACRES&amp;APART CREEDMOOR,NC HWY 56</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>36340</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>8% ACRES&amp;APART CREEDMOOR, NC HWY 56</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>18400</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>BUTNER SURVEY</PropertyDesc>
        <AcquiredDt>1999-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>5902</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>RIVERSIDE VILLAGE</PropertyDesc>
        <AcquiredDt>1999-05-15</AcquiredDt>
        <CostOrOtherBasisAmt>42780</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>GRANVILLLE COUNTY - HUDSON</PropertyDesc>
        <AcquiredDt>1998-09-08</AcquiredDt>
        <CostOrOtherBasisAmt>4125</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LOT 4B BUTNER/306 FIFTH ST.</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>WELSTON AVENUE 65</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>400</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>WELSTON AVENUE 66</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>400</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>VAC COLSON ST. 236-237-23</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>200</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>CENTER AVE. 234-235 JOYL</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>125</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>1106 S. DUKE ST.</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>JOYLAND HEIGHTS END OF OVERHI</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>575</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>WELTON AVE. 67</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>400</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>S/S WELTON AVENUE 56</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>350</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>VAC CARVER ST. &amp; ELDORADO</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>100</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>VAC CENTER AVENUE 228-229 J</PropertyDesc>
        <AcquiredDt>2001-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>100</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>I-40 PROPERTY-BASIS TO BE USED LATER</PropertyDesc>
        <AcquiredDt>2004-01-01</AcquiredDt>
        <CostOrOtherBasisAmt>911422</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LOT 3 COTTON DR BUTNER GRANV</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>12000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>56-58 BLC HILLSBORO HEIGHTS 522 FOREST DRIVE 522 F</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>27000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>E5 142A &amp; BLDGS, WARRENTON</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>11000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>1106 FAIRVIEW, DURHAM COUNTY</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>4000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>N/S WESTWOOD DRIVE 20B;A-33-Q 159201 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>5000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>N/S WESTWOOD DRIVE 20-20A; A33I 159202 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>3000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>W/S FOREST DRIVE 19 OAK GROVE 159203 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>2500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>W/S FOREST DRIVE 21 OAK GROVE 159204 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>2500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>W/S FOREST DRIVE 47 OAK GROVE 159205 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>3000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>E/S FOREST DRIVE 25 OAK GROVE 159225 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>800</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAKESIDE DRIVE 41-49 TWIN 159247 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>18000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAKESIDE DRIVE 60 TWIN 159256 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>8000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FOREST DRIVE PT28 A-33Y 159265 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>3000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAKESIDE DRIVE 77, TWIN LAKE 159267 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>4000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LONG AND VANN AVENUE; A-33-AH 164919 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>7500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>1104 DELANO STREET 11 BL B SE; A-3 120777 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>6000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>OFF PAGE ROAD TR3; A-33-AQ 158012 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>4500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HARDEE AND BENNING STREET, PT B</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>120000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HARDEE STREET 56 BL 16 A-33-H 120864 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>10700</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HARDEE STREET 57-58 BL 1; A-33-I 120865 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>14100</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>SATER STREET 57-60; A-33-J</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>1000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>S/S INDEPENDENCE AVENUE 64 A-33 131590 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>4000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>S/S INDEPENDENCE AVENUE 87; A-33 132472 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>4000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAKESIDE DRIVE 79 TWIN LAKE; A-33 159270 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>15000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>S/S WESTWOOD DRIVE 16-18; A-33-P 159200 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>5000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>CRESCENT BLVD 1-2; A-33-G 120849 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>13800</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>NE-S SEFORD DRIVE 106 A-33-AD 161198 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>2000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>W/S SEFPRD DROVE 80 A-33-AD 161210 DURHA</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>2000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>BUILDING SITE SOUTH SIDE INDEP. A</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <CostOrOtherBasisAmt>18500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>1900 FRANKLIN ST</PropertyDesc>
        <AcquiredDt>2006-03-09</AcquiredDt>
        <PriorYearDepreciationAmt>310</PriorYearDepreciationAmt>
        <ComputationMethodTxt>STRAIGHT LINE</ComputationMethodTxt>
        <LifeRt>27.5000</LifeRt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
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      <GainLossSaleOtherAssetGrp>
        <AssetDesc>15.8% ACRES&amp;APART CREEDMOOR,NC HWY 56</AssetDesc>
        <AcquiredDt>2006-03</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-11</SoldDt>
        <GrossSalesPriceAmt>628511</GrossSalesPriceAmt>
        <BasisAmt>36340</BasisAmt>
        <SalesExpenseAmt>1307</SalesExpenseAmt>
        <TotalNetAmt>590864</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>8% ACRES&amp;APART CREEDMOOR, NC HWY 56</AssetDesc>
        <AcquiredDt>2006-03</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-08</SoldDt>
        <GrossSalesPriceAmt>337000</GrossSalesPriceAmt>
        <BasisAmt>18400</BasisAmt>
        <TotalNetAmt>318600</TotalNetAmt>
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    </GainLossSaleOtherAssetsSch>
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        <BookValueAmt>1512220</BookValueAmt>
        <EOYFMVAmt>214624</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CostOrOtherBasisAmt>1978796</CostOrOtherBasisAmt>
        <BookValueAmt>1978796</BookValueAmt>
        <EOYFMVAmt>1978796</EOYFMVAmt>
      </LandEtcGrp>
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        <Desc>INVESTMENTS</Desc>
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        <EOYBookValueAmt>3691123</EOYBookValueAmt>
        <EOYFMVAmt>3691123</EOYFMVAmt>
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    </OtherAssetsSchedule>
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      <OtherDecreasesDetail>
        <Desc>PENALTIES</Desc>
        <Amt>36</Amt>
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      <OtherExpensesScheduleGrp>
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        <RevenueAndExpensesPerBooksAmt>7068</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>REPAIRS</Desc>
        <RevenueAndExpensesPerBooksAmt>95061</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>REAL ESTATE TAXES</Desc>
        <RevenueAndExpensesPerBooksAmt>48725</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>COURT COST</Desc>
        <RevenueAndExpensesPerBooksAmt>518</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>BAD DEBT</Desc>
        <RevenueAndExpensesPerBooksAmt>256</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
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      <OtherExpensesScheduleGrp>
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      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>16013</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>31</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>200</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>ROUNDING</Desc>
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      <OtherNotesLoansRcvblShortGrp>
        <Organization501c3Name>
          <BusinessNameLine1Txt>AR REAL ESTATE ASSOC</BusinessNameLine1Txt>
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</Return>