UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 14, 2010
ANGELES INCOME PROPERTIES, LTD. 6
(Exact name of Registrant as specified in its charter)
California | 0-16210 | 95-4106139 |
(State or other jurisdiction | (Commission | (I.R.S. Employer |
Of incorporation or | File Number) | Identification Number) |
Organization) | | |
55 Beattie Place
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices)
(864) 239-1000
(Issuer's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
Angeles Income Properties, Ltd. 6, a California limited partnership (the “Registrant”), owns Homestead Apartments (“Homestead”), a 168-unit apartment complex located in Lansing, Michigan. As previously disclosed, on October 26, 2009, the Registrant entered into a Purchase and Sale Contract (the “Purchase Contract”) with a third party, Homestead on Lake Lansing, LLC, a Michigan limited liability company (the “Purchaser”), to sell Homestead for a total sales price of $7,000,000.
As previously disclosed, the Purchase Contract was terminated on January 25, 2010 and reinstated on February 3, 2010 at the same sales price of $7,000,000.
As previously disclosed, on March 29, 2010 and April 20, 2010, the Registrant and the Purchaser entered into amendments to the Purchase and Sale Contract pursuant to which the Registrant agreed to give the Purchaser a credit against the purchase price of $6,000 for capital improvements at Homestead required by the lender and the expected closing date was extended from April 26, 2010 to May 21, 2010.
On May 14, 2010, the Registrant and the Purchaser entered into a Fourth Amendment to the Purchase and Sale Contract (the “Fourth Amendment”) pursuant to which the expected closing date was changed from May 21, 2010 to May 20, 2010.
The summary of the terms and conditions of the Fourth Amendment is qualified in its entirety by reference to the Fourth Amendment to Purchase and Sale Contract, a copy of which is attached hereto as an exhibit.
Item 9.01 Financial Statements and Exhibits
(d) Exhibit
10.45 Fourth Amendment to Purchase and Sale Contract between Angeles Income Properties, Ltd. 6, a California limited partnership, and Homestead on Lake Lansing, LLC, a Michigan limited liability company, dated May 14, 2010.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ANGELES INCOME PROPERTIES, LTD. 6
By: Angeles Realty Corporation II
General Partner
By: /s/Stephen B. Waters
Stephen B. Waters
Senior Director of Partnership Accounting
Date: May 18, 2010
