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):
January 19, 2001
COMMON GOAL HEALTH CARE PARTICIPATING MORTGAGE FUND L.P.
(Exact name of registrant as specified in its charter)
Delaware 0-17600 52-1475268
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
215 Main Street, Penn Yan, NY 14527
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (315) 536-5985
Item 5: Other Events
Common Goal Health Care Participating Mortgage Fund L.P. (the "Partnership") was
formed on August 20, 1986 to invest in and make mortgage loans to third parties
involved in health care. The general partners are Common Goal Capital Group,
Inc. the managing general partner, and Common Goal Limited Partnership I, the
minority general partner (the "General Partners").
The Partnership had one remaining mortgage loan in its portfolio at December 31,
2000. The loan matured on January 19, 2001, at which time the Partnership
received a payment of $1,153,254, representing the remaining principal amount
outstanding on that mortgage loan. In order to induce the borrower to pay the
principal amount promptly, the Partnership waived $35,000 of accrued interest.
As the Partnership has no remaining mortgage loans outstanding, it intends to
wind up its operations and to liquidate prior to March 31, 2001. The remaining
assets of the Partnership consist exclusively of cash and short-term
investments. After arranging for the payment of general and administrative
expenses relating to its final financial and tax reporting requirements and
extinguishing the remaining liabilities of the Partnership, all such assets will
be distributed in the form of cash to the Limited Partners and the Partnership
will be dissolved.
Remaining liabilities include payments of certain fees that the General Partners
and their affiliates were entitled to but never received. Under the terms of the
Partnership's agreement of limited partnership, (the "Partnership Agreement"),
the Partnership was required to pay a quarterly management fee to the managing
general partner equal to .75% per annum of Adjusted Contributions, as defined in
the Partnership Agreement, as well as mortgage placement fees equal to 3% of the
principal amount of mortgage loans made by the Partnership. Additionally, the
Partnership was required to pay a mortgage servicing fee equal to .25% per annum
of the Partnership's outstanding mortgage loan principal amount is to be paid)
to Common Goal Mortgage Company.
The General Partners have not yet determined the amount of the final
distribution that will be made to the Limited Partners.
SIGNATURES
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.
Common Goal Health Care Participating Mortgage
Fund L.P.
By: Common Goal Capital Group, Inc.,
General Partner
Date: March 9, 2001 By: /s/ Albert E. Jenkins III
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Albert E. Jenkins III, Chairman and
Chief Executive Officer