Exhibit (a)(7)
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June 30, 2000
TO: UNIT HOLDERS OF RIVERSIDE PARK ASSOCIATES LIMITED PARTNERSHIP
SUBJECT: HIGHEST PRICE OFFERED TO PURCHASE YOUR UNITS
Dear Unit Holder:
As described in the enclosed Offer to Purchase and related Letters of
Transmittal (the "Offer"), MP INCOME FUND 15, LLC; MP INCOME FUND 12, LLC;
ACCELERATED HIGH YIELD INSTITUTIONAL INVESTORS, LTD.; ACCELERATED HIGH YIELD
INSTITUTIONAL FUND, LTD.; MORAGA FUND 1, L.P.; AND MORAGA GOLD, LLC
(collectively the "Purchasers") are offering to purchase up to 60 Units of
limited partnership interest (the "Units") in RIVERSIDE PARK ASSOCIATES LIMITED
PARTNERSHIP, a Delaware limited partnership(the "Partnership"). The Purchasers
hereby extend the Expiration Date to July 24, 2000, and increase their purchase
price to:
$45,000 per Unit
This offer is $3,000 per Unit greater than the $42,000 per Unit
currently offered by AIMCO Properties, L.P., which was again increased in
response to our Offer. The Offer will provide you with an opportunity to
liquidate all, or a portion of, your investment in RIVERSIDE PARK ASSOCIATES
LIMITED PARTNERSHIP without the usual transaction costs associated with market
sales or partnership transfer fees.
If you have already tendered your Units to AIMCO Properties, L.P.,
and you wish to revoke that tender and tender to the Purchasers, you may revoke
the prior tender until that offer is terminated by sending a written notice of
revocation specifying the Units tendered and your desire to revoke, as provided
in the AIMCO tender offer. We have attached a form for use in revoking tenders
to AIMCO Properties L.P. If you have questions in this regard, please contact us
at the number below.
After carefully reading the enclosed Offer, if you elect to tender your
Units, mail (using the enclosed pre-addressed, postage paid envelope) or
telecopy a duly completed and executed copy of the Letter of Transmittal (the
blue form) and Change of Address forms, and any other documents required by the
Letter of Transmittal, to the Depositary for the Offer at:
MacKenzie Patterson, Inc.,
1640 School Street
Moraga, California 94556
Telecopy: (925) 631-9119
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If you have already tendered Units by submitting a Letter of
Transmittal (the blue form), there is no need to submit a new transmittal form.
All selling Unit holders will receive the highest price offered by the
Purchasers regardless of the date of tender or the form used.
If you have any questions or need assistance, please call the Depository
at 800-854-8357.
This Offer expires (unless extended) July 24, 2000.
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NOTICE OF WITHDRAWAL
The undersigned hereby withdraws Units heretofore tendered by the
undersigned to AIMCO Properties, L.P. pursuant to its tender offer dated May 15,
2000.
Name of person who tendered Units: __________________________________________
Name of registered Unit holder (if different): ________________________________
Number of Units to be withdrawn (state "all" if all Units tendered are to be
withdrawn): _______
Date: _______________, 2000
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[signature of withdrawing Unit holder]
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[signature of joint holder, if any]
INSTRUCTIONS:
For a withdrawal to be effective, a written notice of withdrawal must be timely
received by the Information Agent at one of its addresses set forth below. Any
such notice of withdrawal must specify the name of the person who tendered, the
number of units to be withdrawn and the name of the registered holder of such
units, if different from the person who tendered. In addition, the notice of
withdrawal must be signed by the person who signed the letter of transmittal in
the same manner as the letter of transmittal was signed. The Information Agent
for AIMCO Properties, L.P. and its addresses are as follows:
RIVER OAKS PARTNERSHIP SERVICES, INC.
By Mail: By Overnight Courier: By Hand:
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P.O. Box 2065 111 Commerce Road 111 Commerce Road
S. Hackensack, N.J. Carlstadt, N.J. 07072 Carlstadt, N.J. 07072
07606-2065 Attn.: Reorganization Dept. Attn.: Reorganization Dept
To confirm withdrawal by telephone, call toll free: (888) 349-2005
