Offer to Purchase Limited Partnership Interests Sample Contracts

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Holders of Units of Limited Partnership Interests Page 2 of T. Rowe Price Realty Income Fund III, America's Sales-Commission-Free Real Estate Limited Partnership proceeds of a sale or refinancing of one or more of the Partnership's properties or in...
Offer to Purchase Limited Partnership Interests • December 10th, 1996 • Lido Associates LLC

-------------------------------------------------------------------------------- LIDO ASSOCIATES, L.L.C. 4343 VON KARMAN AVENUE NEWPORT BEACH, CA 92660 DECEMBER 10, 1996 To Holders of Units of Limited Partnership Interests of T. Rowe Price Realty Income Fund III, America's Sales-Commission-Free Real Estate Limited Partnership Dear Unitholder: We are pleased to enclose with this letter the offer (the "Offer") by Lido Associates, L.L.C. (the "Purchaser") to pay $107 for each unit of limited partnership interest ("Unit") of T. Rowe Price Realty Income Fund III, America's Sales-Commission-Free Real Estate Limited Partnership (the "Partnership"), less the amount per Unit of distributions declared or paid with respect to each Unit between November 25, 1996 and the close of business, Eastern Standard Time on January 17, 1997. The Offer is for up to 115,000 Units, representing approximately 45% of the Units outstanding on the date of the Offer. If more than 115,000 Units are tendered, Units wi

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