On January 29, 1994, about 0930 eastern standard time, N599LG, a Beech BE-35, registered to the pilot Thomas R. Wolf, crashed in a lake while on approach to Leesburg Airport, Leesburg, Florida, while on a 14 CFR Part 91 instructional flight. Instrument meteorological conditions prevailed and no flight plan was filed. The airplane was substantially damaged and the pilot and instructor reported no injuries. The flight originated about 30 minutes earlier from Orlando, Florida. The pilot/owner stated that the airplane was equipped with a throw-over yoke and both pilots signed an agreement that the owner, who was seated in the left seat would have the yoke, and be pilot-in-command. While in the traffic pattern, on base leg to final leg, the pilot encountered a fog bank, lost visual contact with the runway, and continued the decent where the airplane crashed in a lake.