Note D Casualty Event
During 2008, Glenbridge Manor Apartments experienced significant ground movement causing damage to three buildings, water pipes and sewer lines. The total damages were approximately $7,456,000. Prior to 2011, the Partnership received approximately $5,160,000 of insurance proceeds and approximately $3,038,000 in reimbursement of attorneys fees from successful litigation against the general contractor, soils engineer and retaining wall contractor. During the three and nine months ended September 30, 2011, the Partnership received approximately $265,000 of additional insurance proceeds, which is included in income from discontinued operations.