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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=3>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=3>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C. 20549</font></b></p>


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<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><B><font SIZE=5>FORM 8-K</font></B></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><B><font SIZE=2>CURRENT REPORT</font></B></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><b><font size=2>Pursuant to Section</font></b><font size=2>&nbsp;</font><b><font size=2>13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><b><font size=2>Date of Report (Date of earliest event reported): </font></b><u><b><font size=2>June 5, 2006</font></b></u></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=5>OWENS MORTGAGE INVESTMENT FUND,</font></B></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=3>a California Limited Partnership</font></b></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Exact name of registrant as specified in its charter)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>California</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>000-17248</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>68-0023931</font></b></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(State or other jurisdiction</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Commission</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(IRS Employer</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>of incorporation)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>File Number)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Identification No.)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>2221 Olympic Boulevard</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Walnut Creek, California</font></b></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><b><font size=2>94595</font></b></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Address of principal executive offices)</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>(Zip Code)</font></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:5pt;text-align:center;'><font size=2>Registrant&#146;s telephone number, including area code: </font><u><b><font size=2>(925)</font></b><font size=2>&nbsp;</font><b><font size=2>935-3840</font></b></u></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Not Applicable</font></b></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Former name or former address, if changed since last report.)</font></p> </td> </tr></table>


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<p>&nbsp;</p></div></div><BR>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><U><B><font SIZE=2>TABLE OF CONTENTS</font></B></U></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><u><font size=2>Item 1.01 Entry into a Material Definitive Agreement</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><u><font size=2>Signatures</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Section 1 &#150; Registrant&#146;s Business and Operations</font></b></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><i><b><font size=2>Item 1.01 Entry into a Material Definitive Agreement</font></b></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:left;'><font size=2>On May 31, 2006, an amendment (the &#147;First Amendment&#148;) to a Commercial Real Property Purchase Agreement and Receipt for Deposit (the &#147;Purchase Agreement&#148;), signed on September 28, 2005, was entered into between the registrant, as Seller, and Ann M. Butler, an unrelated person, as Buyer, pursuant to which the Purchase Agreement was amended and made effective. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:left;'><font size=2>The First Amendment and the Purchase Agreement effect a sale to the Buyer of a property known as BayView Gardens, owned by the Seller in Monterey, California. The Purchase Agreement was contingent, among other matters on the Buyer obtaining a State of California license to operate the property as a community health care center, and this license has been approved. The purchase price has been set by the First Amendment at $5,600,000, of which $575,000 is to be paid by the Buyer as a cash down payment at the close of escrow, including a total of $50,000 which Buyer has paid into escrow pursuant to the Purchase Agreement, and the balance of $5,025,000, plus a construction loan of $550,000 is to be financed by the registrant, upon its approval of the Buyer&#146;s loan application pursuant to Seller&#146;s standard underwriting procedure.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:left;'><font size=2>The construction loan is to provide funds to the Buyer for the restoration and renovation of the Carriage House on the property, which must be completed within twelve months from the date of close of escrow. Funds from the construction loan will be disbursed in accordance with the terms and conditions of a construction loan agreement entered into between the Seller and Buyer.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:left;'><font size=2>The terms of the financing by the Seller are as follows: Interest on the total loan of $5,575,000 is set at the rate of 8% per annum, to be adjusted every 5 years to float at 2% above the published Bank of America Reference Rate (published prime rate) or any other rate which Bank of America may choose to replace its Reference Rate. For the first year from the date of close of escrow of the purchase, Buyer is to pay interest only on the loan; thereafter the principal amount of the loan, plus applicable interest, will be fully amortized over 20 years and the full amount of the principal and accrued interest will be due and payable ten years from the date of close of escrow. The loan will be evidenced by a single promissory note secured by a first trust deed on the property.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.55in;text-align:left;'><font size=2>Pursuant to the Purchase Agreement, the Buyer is purchasing the property based on her own investigation and evaluation of hazardous substances and other environmental conditions at the property, without any representations by the Seller as to any matters regarding the property, and Buyer has not advised Seller of any adverse conditions or items disapproved during the inspection period, which has expired. The Purchase Agreement releases and indemnifies Seller from any and all claims of any kind with respect to environmental conditions or hazards of the property.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The estimated closing date of the sale is June 16, 2006.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:5pt; margin-top:5pt; text-indent:0.55in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:normal'><font SIZE=2>OWENS MORTGAGE INVESTMENT FUND,</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>a California Limited Partnership</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:normal'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:normal'><font size=2>By:  Owens Financial Group, Inc., General Partner</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Dated:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>June 5, 2006</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By: </font><u><font size=2>/s/ Bryan H. Draper</font></u></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:normal'><font size=2>Bryan H. Draper, Chief Financial Officer</font></p> </td> </tr>
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{"company-data": {"conformed-name": "OWENS MORTGAGE INVESTMENT FUND A CALIF LTD PARTNERSHIP", "cik": "0000841501", "assigned-sic": "6162", "irs-number": "680023931", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17248", "film-number": "06885990"}, "business-address": {"street1": "2221 OLYMPIC BLVD", "street2": "P O BOX 2308", "city": "WALNUT CREEK", "state": "CA", "zip": "94595", "phone": "925-280-5393"}, "mail-address": {"street1": "2221 OLYMPIC BLVD", "street2": "P O BOX 2308", "city": "WALNUT CREEK", "state": "CA", "zip": "94595"}, "former-company": [{"former-conformed-name": "OWENS MORTGAGE INVESTMENT FUND", "date-changed": "19940902"}, {"former-conformed-name": "OWENS MORTGAGE INVESTMENT FUND II", "date-changed": "19920703"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 5, 2006
OWENS MORTGAGE INVESTMENT FUND,
a California Limited Partnership
(Exact name of registrant as specified in its charter)
California
000-17248
68-0023931
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
2221 Olympic Boulevard
Walnut Creek, California
94595
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(925)
935-3840
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
TABLE OF CONTENTS
Item 1.01 Entry into a Material Definitive Agreement
Signatures
Section 1 – Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
On May 31, 2006, an amendment (the "First Amendment") to a Commercial Real Property Purchase Agreement and Receipt for Deposit (the "Purchase Agreement"), signed on September 28, 2005, was entered into between the registrant, as Seller, and Ann M. Butler, an unrelated person, as Buyer, pursuant to which the Purchase Agreement was amended and made effective.
The First Amendment and the Purchase Agreement effect a sale to the Buyer of a property known as BayView Gardens, owned by the Seller in Monterey, California. The Purchase Agreement was contingent, among other matters on the Buyer obtaining a State of California license to operate the property as a community health care center, and this license has been approved. The purchase price has been set by the First Amendment at $5,600,000, of which $575,000 is to be paid by the Buyer as a cash down payment at the close of escrow, including a total of $50,000 which Buyer has paid into escrow pursuant to the Purchase Agreement, and the balance of $5,025,000, plus a construction loan of $550,000 is to be financed by the registrant, upon its approval of the Buyer's loan application pursuant to Seller's standard underwriting procedure.
The construction loan is to provide funds to the Buyer for the restoration and renovation of the Carriage House on the property, which must be completed within twelve months from the date of close of escrow. Funds from the construction loan will be disbursed in accordance with the terms and conditions of a construction loan agreement entered into between the Seller and Buyer.
The terms of the financing by the Seller are as follows: Interest on the total loan of $5,575,000 is set at the rate of 8% per annum, to be adjusted every 5 years to float at 2% above the published Bank of America Reference Rate (published prime rate) or any other rate which Bank of America may choose to replace its Reference Rate. For the first year from the date of close of escrow of the purchase, Buyer is to pay interest only on the loan; thereafter the principal amount of the loan, plus applicable interest, will be fully amortized over 20 years and the full amount of the principal and accrued interest will be due and payable ten years from the date of close of escrow. The loan will be evidenced by a single promissory note secured by a first trust deed on the property.
Pursuant to the Purchase Agreement, the Buyer is purchasing the property based on her own investigation and evaluation of hazardous substances and other environmental conditions at the property, without any representations by the Seller as to any matters regarding the property, and Buyer has not advised Seller of any adverse conditions or items disapproved during the inspection period, which has expired. The Purchase Agreement releases and indemnifies Seller from any and all claims of any kind with respect to environmental conditions or hazards of the property.
The estimated closing date of the sale is June 16, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
OWENS MORTGAGE INVESTMENT FUND,
a California Limited Partnership
By:  Owens Financial Group, Inc., General Partner
Dated:
June 5, 2006
By:
/s/ Bryan H. Draper
Bryan H. Draper, Chief Financial Officer