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                                                                EXHIBIT 99(d)(3)


CONSENT                                                                 CONSENT
              HALL INSTITUTIONAL MORTGAGE FUND LIMITED PARTNERSHIP

         THIS CONSENT IS SOLICITED ON BEHALF OF HALL INSTITUTIONAL MORTGAGE
FUND LIMITED PARTNERSHIP BY ITS GENERAL PARTNER, HALL PENSION FUND ASSOCIATES,
LTD. THIS SOLICITATION OF CONSENTS EXPIRES ON _____________, 1997 UNLESS
EXTENDED OR TERMINATED EARLIER (THE "EXPIRATION DATE").

         The Units represented by this Consent, when properly executed, will be
recorded as directed by the Unitholder. IF NO DIRECTION IS GIVEN, UNITS WILL BE
COUNTED AS GIVING CONSENT TO THE PROPOSAL (AS DEFINED BELOW). However, a
Consent returned by a broker or nominee on which such person expressly
indicates lack of discretionary authority to CONSENT to the Proposal will be
treated as being AGAINST the Proposal. Please note that an abstention will be
counted as being AGAINST the Proposal.

         The undersigned, acting with regard to all Units held in HALL
INSTITUTIONAL MORTGAGE FUND LIMITED PARTNERSHIP (the "Partnership") with
respect to which the undersigned is entitled to give his, her or its consent on
the Record Date, hereby consents, denies consent or abstains from consenting,
all as indicated on the reverse side hereof, to approve the proposal (the
"Proposal") to sell substantially all of the non-cash assets of the Partnership
to Hall Financial Group, Inc. (the "Sale Transaction") followed by the
liquidation and winding up of the Partnership as described in the Solicitation
Statement dated ________, 1997, receipt of which, together with all amendments
and supplements thereto, if any, is hereby acknowledged. The dissolution and
termination of the Partnership is contingent upon successful completion of the
Sale Transaction. Delivery of this Consent, when properly executed, will revoke
any consent, failure to consent or abstention heretofore given with respect to
such Units.

                    (PLEASE DATE AND SIGN ON REVERSE SIDE.)

1.   TO APPROVE THE SALE OF SUBSTANTIALLY ALL OF THE NON-CASH ASSETS OF THE
     PARTNERSHIP TO HALL FINANCIAL GROUP, INC. FOLLOWED BY THE LIQUIDATION AND
     WINDING UP THE PARTNERSHIP (check one box).

     [ ] CONSENT                        [ ] AGAINST      [ ] ABSTAIN

                                        Dated _________________________, 1997

                                        -----------------------------------
                                                     Signature

                                        -----------------------------------
                                            Signature (if held jointly)

                                        -----------------------------------
                                                        Title

                                        Please sign exactly as name appears
                                        hereon. When Units are held by joint
                                        tenants, both should sign. When signing
                                        as an attorney, executor, administrator,
                                        trustee or guardian, please give full
                                        title of such. If a corporation, please
                                        sign in corporate name by President or
                                        other authorized officer. If a
                                        partnership, please sign in partnership
                                        name by authorized person.


PLEASE MARK, SIGN, DATE AND RETURN THIS CONSENT PROMPTLY USING THE ENCLOSED
PRE-PAID ENVELOPE OR DELIVER TO: The Herman Group, Inc., 2121 San Jacinto
Street, 26th Floor, Dallas, Texas 75201. Facsimile copies of the Consent,
properly completed and duly executed, will be accepted at (214) 999-9323 or
(214) 999-9348. If you have any questions, please call The Herman Group, Inc.
at (800) 747-2975.

YOU MAY REVOKE THIS CONSENT AT ANY TIME PRIOR TO THE EARLIER OF THE APPROVAL
DATE (AS DEFINED IN THE SOLICITATION STATEMENT) OR THE EXPIRATION DATE.