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OMR APPROVAL
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OMB No. 3235-0145
Expires September 30, 1988
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
REALTY REFUND TRUST
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(Name of Issuer)
Shares of Beneficial Interest
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(Title of Class of Securities)
756125 10 0
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(CUSIP Number)
James H. Berick, Esq.
1350 Eaton Center
1111 Superior Avenue
Cleveland, Ohio 44114 (216) 861-4900
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 20, 1997
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(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page l of 5 Pages
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CUSIP No. 756125 10 0 13D Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harold R. Krause
S.S. No. ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U. S. A.
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7 SOLE VOTING POWER
NUMBER OF 0
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SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY N/A
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EACH
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
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WITH
10 SHARED DISPOSITIVE POWER
N/A
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 756125 10 0 SCHEDULE 13D Page 3 of 5 Pages
(Amendment No. 1)
Item 1. Security and Issuer
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This Amended Schedule 13D relates to Shares of Beneficial Interest (the
"Shares") of Realty ReFund Trust, an unincorporated association in the form of a
business trust organized in Ohio under a Declaration of Trust dated April 28,
1971, as amended (the "Issuer"). The address of the principal executive office
of the Issuer is 1385 Eaton Center, 1111 Superior Avenue, Cleveland, Ohio 44114.
Item 2. Identity and Background
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(a) This Schedule is being filed by Harold R. Krause (the
"Shareholder").
(b) The Shareholder's business address is Brennan Financial Group,
Skylight Office Tower, Suite 450, 1660 West 2nd Street, Cleveland, Ohio 44113.
(c) The Shareholder's principal occupations or employment and the name,
principal business and address of any corporation or other organization in which
such employment is conducted is life insurance agent for Brennan Financial
Group, Skylight Office Tower, 1660 West 2nd Street, Suite 450, Cleveland, Ohio
44113.
(d) The Shareholder has not been convicted of any criminal offense
during the last five years.
(e) The Shareholder has not been a party during the last five years to
any judicial or administrative proceeding resulting in a judgment, decree or
order enjoining future violation of or prohibiting or mandating activities
subject to, federal or state security laws, or finding any violation with
respect to such laws.
(f) The Shareholder is a United States citizen.
Item 3. Source and Amount of Funds or Other Consideration
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Not applicable.
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CUSIP No. 756125 10 0 SCHEDULE 13D Page 4 of 5 Pages
Item 4. Purpose of Transaction
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On January 20, 1997, the Shareholder sold 158,001 shares, constituting
15.48% of the Issuer's outstanding Shares, in a private sale at a price equal to
$3.883 per Share. The purpose of said sale was to generate cash.
Item 5. Interest in Securities of the Issuer
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(a) The Shareholder beneficially owns 0 Shares, constituting 0% of the
outstanding Shares.
(b) The Shareholder does not have either sole or shared power to vote
and dispose of any Shares of the Issuer.
(c) The only transactions in Shares effected by the Shareholder since
the most recent filing on Schedule 13D is the sale of the 158,001 Shares
reported herein.
(d) Not applicable.
(e) January 20, 1997.
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CUSIP No. 756125 10 0 SCHEDULE 13D Page 5 of 5 Pages
Item 6. Contracts, Arrangements, Understandings or Relation-
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ships with Respect to Securities of the Issuer
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There are no contracts, arrangements, understandings or relationships
(legal or otherwise) between the Shareholder and any other person with respect
to any securities of the Issuer.
Item 7. Materials to be Filed as Exhibits
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None.
Item 8. Signatures
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After reasonable inquiry and to the best of my knowledge and belief I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 20, 1997
/s/ Harold R. Krause
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Signature
Harold R. Krause
