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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. 2 )*
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-l(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 4 Pages
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CUSIP No. 756125 10 0 13D Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alan M. 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*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS 13 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 183,001
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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 183,001
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WITH
10 SHARED DISPOSITIVE POWER
N/A
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,001
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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)
17.93
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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 4 Pages
(Amendment No. 2)
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 3. Source and Amount of Funds or Other Consideration
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Shareholder acquired 158,001 Shares of Beneficial Interest of the
Issuer for an aggregate price equal to $613,500 ($3.883 per Share). The source
of the funds used to pay for these Shares was personal funds of Shareholder.
Item 4. Purpose of Transaction
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On January 20, 1997, the Shareholder purchased 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 purchase was to increase
the Shareholder's investment in the Issuer and for investment purposes.
Shareholder reserves the right to change his plans and intentions at any time,
as he deems appropriate. Prior to the purchase reported herein, Shareholder
beneficially owned 25,000, or approximately 2.45%, of the outstanding Shares of
the Issuer. After giving effect to the purchase reported herein, Shareholder
beneficially owns 183,001, or approximately 17.93%, of the outstanding Shares of
the Issuer.
Item 5. Interest in Securities of the Issuer
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(a) The Shareholder beneficially owns 183,001 Shares, constituting
17.93% of the outstanding Shares.
(b) The Shareholder has the sole power to vote and dispose of all of
the Shares reported in Item 5(a) as beneficially owned by him.
(c) The only transactions in Shares effected by the Shareholder since
the most recent filing on Schedule 13D is the purchase of the 158,001 Shares
reported herein.
(d) Not applicable.
(e) Not applicable.
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CUSIP No. 756125 10 0 SCHEDULE 13D Page 4 of 4 Pages
Item 6. Contracts, Arrangements, Understandings or Relationships with
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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/ Alan M. Krause
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Signature
Alan M. Krause
