424(b)(3)
No. 33-90998-01
CNL INCOME FUND XVII, LTD.
AND
CNL INCOME FUND XVIII, LTD.
This Supplement is part of, and should be read in conjunction with, the
Prospectus dated August 11, 1995. Capitalized terms used in this Supplement
have the same meaning as in the Prospectus unless otherwise stated herein.
THE OFFERING
SUBSCRIPTION PROCEDURES
As previously reported, the offering of Units of CNL Income Fund XVII,
Ltd. ("CNL XVII") terminated on September 19, 1996, at which time
subscriptions for an aggregate 3,000,000 Units ($30,000,000), including Units
sold pursuant to the Reinvestment Plan, had been received and 1,602
subscribers had been admitted as Limited Partners in accordance with the
Partnership Agreement of CNL XVII.
The offering of Units of CNL Income Fund XVIII, Ltd. ("CNL XVIII")
commenced on September 20, 1996. As of October 11, 1996, CNL XVIII had
received aggregate subscription proceeds of $1,733,131, which exceeded the
minimum offering amount of $1,500,000, and $1,517,431 of the funds (which
excluded all funds received from New York and Pennsylvania investors) were
released from escrow. As of October 15, 1996, CNL XVIII had received total
subscription proceeds of $2,020,943 from 87 limited partners, of which $55,200
(representing funds received from New York investors) will be held in escrow
until aggregate subscription proceeds total at least $2,500,000. Up to
3,000,000 Units ($30,000,000) of CNL XVIII will be offered for sale to the
public, subject to the Managing Dealer's option to increase the offering of
Units of CNL XVIII by up to 500,000 additional units ($5,000,000) to 3,500,000
Units ($35,000,000).
All subscriptions are for the purchase of Units of CNL XVIII. Offers
are no longer being made nor are the General Partners accepting subscriptions
for Units of CNL XVII. THE ACQUISITION OF UNITS OF ONE PARTNERSHIP WILL NOT
ENTITLE THE INVESTOR TO ANY OWNERSHIP INTEREST IN THE OTHER PARTNERSHIP OR ITS
PROPERTIES.
BUSINESS
PROPERTY ACQUISITIONS
As of October 15, 1996, CNL XVIII had acquired no Properties, and no
commitments have been issued by CNL XVIII to acquire any Properties.
October 16, 1996 Prospectus Dated August 11, 1995
