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EXHIBIT (z)(1)
AGREEMENT OF JOINT FILING
AIMCO Properties, L.P., Madison River Properties, L.L.C., Insignia
Properties, L.P., AIMCO/IPT, AIMCO-GP, Inc. and Apartment Investment and
Management Company agree that the Amendment No. 13 to Schedule 13D to which this
agreement is attached as an exhibit, and all further amendments thereto, and all
filings under Schedule TO to which this agreement is attached as an exhibit, and
all further amendments thereto, shall be filed on behalf of each of them. This
agreement is intended to satisfy the requirements the requirements of Rule
13d-1(f)(1)(iii) under the Securities Exchange Act of 1934, as amended.
Dated: May 15, 2000
AIMCO PROPERTIES, L.P.
By: AIMCO-GP, INC.
(General Partner)
By: /s/ Patrick J. Foye
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Executive Vice President
MADISON RIVER PROPERTIES, L.L.C.
By: /s/ Patrick J. Foye
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Executive Vice President
AIMCO/IPT, INC.
By: /s/ Patrick J. Foye
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Executive Vice President
INSIGNIA PROPERTIES, L.P.
By: AIMCO/IPT, INC.
(General Partner)
By: /s/ Patrick J. Foye
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Executive Vice President
AIMCO-GP, INC.
By: /s/ Patrick J. Foye
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Executive Vice President
APARTMENT INVESTMENT
AND MANAGEMENT COMPANY
By: /s/ Patrick J. Foye
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Executive Vice President