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)
June 23, 1998
E & J PROPERTIES, LTD.
a California Limited Partnership
(Exact name of registrant as specified in charter)
California
(State or other jurisdiction of incorporation)
O-9608
(Commission File Number)
94-2763152
(IRS Employer Identification Number)
2710 Gateway Oaks Drive, Suite 300 South
Sacramento, California 95833
(Address of principal executive office)
Registrant's telephone number, including area code: (916) 925-6620
ITEM 5. OTHER MATERIAL EVENTS
Reference: Forms 8-K dated March 2, 1998 and May 27, 1998
E & J Properties, Ltd, a California Limited Partnership ("Seller"), has been
notified by AKT Development
Corporation ("Buyer"), a California Corporation, that, pursuant to the sale
agreement previously enter into
regarding the approximately 1,850 acres of its real estate holdings in
Sacramento County, California, Buyer
has paid the additional sum of $100,000.00 (the "First Extension Payment")
thereby exercising its option to
extend the closing date to July 27, 1998. The First Extension Payment has been
released to Seller and will
not be applied to the purchase price.
Notwithstanding the release to Seller of the First Extension Payment, there is
no assurance that the escrow will close and that Seller will realize the full
purchase price. At this time, subject to Buyer's last option to extend the
closing date, Buyer has given no indication that the escrow will not close in
a timely manner. However, in the event that the escrow should not close, the
purchase agreement authorizes Seller to retain the First Extension Payment as
and for consideration for the extension of the closing date.
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this
Report to be signed on its behalf by the undersigned, hereunder duly authorized.
Date: June 23, 1998
E & J PROPERTIES, LTD.
a California Limited Partnership
By: /s/ Elaine McKeon
ELAINE McKEON
General Partner
