Item 14 - (a)3 Exhibit  10(t)

                                  EXTENSION OF
                          PROPERTY MANAGEMENT AGREEMENT

      THIS  AGREEMENT  (The  Extension  Agreement)  made as of  this  1st day of
January,  1999, by and between FJS PROPERTIES  FUND I, L.P., a Delaware  Limited
Partnership ("Owner"), and M.L. PROPERTY MANAGEMENT, INC., a Florida Corporation
("Management Company").

      WHEREAS,  Owner and Management  Company have previously  entered into that
certain management  agreement (the "Management  Agreement") dated as of December
1993, for the property  management of the garden apartment  complex known as the
Pavilion Apartments, West Palm Beach, Florida, and

      WHEREAS,  the Management  Agreement by its term originally  expired at the
end of December 1998, and

      WHEREAS,  the Owner and  Management  Company  desire to further extend the
term of the Management Agreement as herein provided,

      NOW THEREFORE, the parties agree as follows:

      1. The Management Agreement shall and hereby is extended for an additional
five year period to expire on December 31, 2003,  subject to the  provisions for
termination  prior to the  expiration of the term as provided in sections 3.3 of
the Management Agreement.

      2. In securing tenants for the Property,  the Management  Company shall be
authorized to employ on behalf of the Owner,  the services of unaffiliated  real
estate  brokers  and  other  similar  tenant  referral  professionals  when  the
Management Company deems it reasonably  necessary.  Commissions paid to any such
brokers  or  professionals  (which  shall in no event  exceed  those  reasonably
customary for such  services in the locality  where the Property is located) for
tenant referrals shall be at Owner's expense.

      3.  Except as  modified  herein,  all of the terms and  provisions  of the
Management Agreement shall remain in full force and effect.

      4.  The   mailing   address   for   notices  to  both  Owner  and  Owner's
Representative is: 264 ROUTE 537 EAST, COLTS NECK, NJ 07722.

      IN WITNESS  WHEREOF,  the parties hereto have hereunto set their hands and
seals, or caused these presents to be signed by their proper  corporate  offices
and their proper  corporate  seal to be affixed  hereto,  the day and year first
above written.

OWNER                                 FJS PROPERTIES FUND I, L.P.
                                      by:  FJS PROPERTIES, INC., general partner


                                      by:    Andrew C. Alson
                                      -----------------------------
                                             Andrew C. Alson, president

MANAGEMENT COMPANY:
                                      M.L. PROPERTY MANAGEMENT, INC.

                                      by:    Murray Liebowitz
                                      -----------------------------
                                             Murray Liebowitz, President