On January 12, 2006, at 1455 eastern standard time, a Cessna 206, N308M, was substantially damaged during collision with terrain following a forced landing to a parking lot, in Lexington, Kentucky. The certificated commercial pilot and the passenger sustained minor injuries. Visual meteorological conditions prevailed for the flight that originated at Mount Sterling-Montgomery County Airport (IOB), Mount Sterling, Kentucky, and was destined for Blue Grass Airport (LEX), Lexington, Kentucky. No flight plan was filed for the positioning flight conducted under 14 Code of Federal Regulations Part 91. In a written statement, the pilot explained that he was approximately 3 miles from the destination airport in a descent, when he applied power to level the airplane at the traffic pattern altitude, however, the application of throttle did not change the power setting. The engine continued to run at the power setting used for the descent, and further adjustments of the throttle produced no change in engine speed. Based on the wind and available engine power, the pilot elected to perform a forced landing to a parking lot. While maneuvering in the landing flare to avoid obstacles, the airplane dragged the left wing, landed hard, collapsed the nose gear, and then struck a curb before it came to rest. The pilot held a commercial pilot certificate with ratings for airplane single engine land, airplane multiengine land, and instrument airplane. He also held an instructor certificate with ratings for airplane single engine and airplane multiengine. The pilot reported 647 total hours of flight experience, 157 hours of which were in single engine airplanes. He reported 34 hours of experience in the same make and model as the accident airplane. The airplane was examined at the site by a Federal Aviation Administration (FAA) inspector, and all major components were accounted for at the scene. The airplane came to rest upright, on its main landing gear and its nose. The nose landing gear collapsed and separated during the landing sequence. According to FAA records, the airplane was manufactured in 1964, and had accrued 6,986 total aircraft hours. The airplane had been operated for 182 hours since its most recent annual inspection, which was performed on July 18, 2005. Examination of the engine compartment revealed a severed throttle cable. The throttle cable was removed, and forwarded to the National Transportation Safety Board's Materials Laboratory in Washington, D.C. Examination of the cable by a Safety Board metallurgist revealed that the cable, and its surrounding housing, failed due to fatigue. Examination of design drawings revealed that an elastomeric dust boot depicted in the drawings was not installed over the fractured pushrod housing at the point of the break, as prescribed. The wear around the housing was described as "uniform" and "severe" and consistent with exposure to contaminants, as well as vibration and bending loads. The cable was installed 4 years, and 1,200 hours prior to the accident. At 1454, the weather reported at LEX, included clear skies, and 10 miles of visibility. The wind was from 170 degrees at 10 knots.