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UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION
 Washington, D.C.
    20549
  Form 10-Q
  (Mark One)þ

QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the
    quarterly period ended June 30,
    2009ORo

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the transition period
    from          to   Commission file
    no. 0-16190
  DEL TACO RESTAURANT PROPERTIES
    II
  (Exact name of registrant as
    specified in its charter)
  California

33-0064245(State or other jurisdiction
    of

(I.R.S. Employerincorporation or
    organization)

Identification Number)25521 Commercentre Drive
    Lake Forest, California(Address of principal
    executive offices)

92630(Zip Code)   (949) 462-9300
 (Registrants telephone number, including area code)
   þ o
  o o
  Rule 12b-2 o þ
  DOCUMENTS
    INCORPORATED BY REFERENCE
  Form S-11
  Rule 12b-2
  Large
    accelerated
    filer o
    Accelerated
    filer o
    Non-accelerated
    filer þ
    Smaller
    reporting
    company o   Rule 12b-2 o þ




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DEL TACO RESTAURANT PROPERTIES II
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial Statements
    
    
    3Condensed Balance Sheets at June 30, 2009 (Unaudited) and
December 31, 2008
    
    
    3Condensed Statements of Income for the three and six months ended
June 30, 2009 and 2008 (Unaudited)
    
    
    4Condensed Statements of Cash Flows for the six months ended
June 30, 2009 and 2008 (Unaudited)
    
    
    5Notes to Condensed Financial Statements (Unaudited)
    
    
    6Item 2. Managements Discussion and Analysis of
Financial Condition and Results of Operations
    
    
    9Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    11Item 4T. Controls and Procedures
    
    
    12PART II. OTHER INFORMATIONItem 6. Exhibits
    
    
    13SIGNATURE
    
    
    14EX-31.1EX-31.2EX-32.1
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PART I. FINANCIAL INFORMATION
 
 ITEM I. FINANCIAL STATEMENTS
 DEL
TACO RESTAURANT PROPERTIES II
 
 CONDENSED BALANCE SHEETS
 June 30,
    
    
    December 31,2009
    
    
    2008(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    144,462
    
    
    $
    160,340Receivable from Del Taco LLC
    
    
    44,287
    
    
    
    43,520Deposits
    
    
    1,534
    
    
    
    1,727Total current assets
    
    
    190,283
    
    
    
    205,587PROPERTY AND EQUIPMENT:Land and improvements
    
    
    1,806,006
    
    
    
    1,806,006Buildings and improvements
    
    
    1,238,879
    
    
    
    1,238,879Machinery and equipment
    
    
    898,950
    
    
    
    898,9503,943,835
    
    
    
    3,943,835Lessaccumulated depreciation
    
    
    2,069,042
    
    
    
    2,051,3441,874,793
    
    
    
    1,892,491$
    2,065,076
    
    
    $
    2,098,078LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    34,531
    
    
    $
    35,651Accounts payable
    
    
    13,712
    
    
    
    14,655Total current liabilities
    
    
    48,243
    
    
    
    50,306PARTNERS EQUITY:Limited partners; 27,006 units outstanding at June 30, 2009
and December 31, 2008
    
    
    2,045,717
    
    
    
    2,076,346General partner-Del Taco LLC
    
    
    (28,884
    )
    
    
    (28,574
    )2,016,833
    
    
    
    2,047,772$
    2,065,076
    
    
    $
    2,098,078
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DEL
TACO RESTAURANT PROPERTIES II
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2009
    
    
    2008
    
    
    2009
    
    
    2008RENTAL REVENUES
    
    $
    137,183
    
    
    $
    142,998
    
    
    $
    265,075
    
    
    $
    278,033EXPENSES:General and administrative
    
    
    12,805
    
    
    
    12,385
    
    
    
    50,794
    
    
    
    53,886Depreciation
    
    
    8,849
    
    
    
    8,849
    
    
    
    17,698
    
    
    
    17,69821,654
    
    
    
    21,234
    
    
    
    68,492
    
    
    
    71,584Operating income
    
    
    115,529
    
    
    
    121,764
    
    
    
    196,583
    
    
    
    206,449OTHER INCOME:Interest
    
    
    44
    
    
    
    217
    
    
    
    102
    
    
    
    699Other
    
    
    750
    
    
    
    3,100
    
    
    
    875
    
    
    
    3,575Net income
    
    $
    116,323
    
    
    $
    125,081
    
    
    $
    197,560
    
    
    $
    210,723Net income per limited
partnership unit (note 2)
    
    $
    4.26
    
    
    $
    4.59
    
    
    $
    7.24
    
    
    $
    7.72Number of units used in computing
per unit amounts
    
    
    27,006
    
    
    
    27,006
    
    
    
    27,006
    
    
    
    27,006
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DEL
TACO RESTAURANT PROPERTIES II
 
 CONDENSED STATEMENTS OF CASH FLOWS   (Unaudited)
 Six Months EndedJune 30,2009
    
    
    2008CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    197,560
    
    
    $
    210,723Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    17,698
    
    
    
    17,698Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    (767
    )
    
    
    (1,810
    )Deposits
    
    
    193
    
    
    
    (387
    )Payable to limited partners
    
    
    (1,120
    )
    
    
    (1,125
    )Accounts payable
    
    
    (943
    )
    
    
    7,722Net cash provided by operating activities
    
    
    212,621
    
    
    
    232,821CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (228,499
    )
    
    
    (234,322
    )Net decrease in cash
    
    
    (15,878
    )
    
    
    (1,501
    )Beginning cash balance
    
    
    160,340
    
    
    
    170,340Ending cash balance
    
    $
    144,462
    
    
    $
    168,839
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DEL TACO RESTAURANT PROPERTIES II
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2009
 UNAUDITED
 NOTE 1  BASIS OF PRESENTATION
  NOTE 2  NET INCOME PER LIMITED PARTNERSHIP UNIT
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DEL TACO RESTAURANT PROPERTIES II
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2009
 UNAUDITED
 NOTE 3  LEASING ACTIVITIES
    NOTE 4  TRANSACTIONS WITH DEL TACO
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DEL TACO RESTAURANT PROPERTIES II
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2009
 UNAUDITED
 NOTE 5  DISTRIBUTIONS
  NOTE 6  PAYABLE TO LIMITED PARTNERS
  NOTE 7  CONCENTRATION OF RISK
   -8-




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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
 Liquidity and Capital Resources
   Results of Operations
   Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2009
    
    
    2008
    
    
    2009
    
    
    2008Bear Valley Rd., Victorville, CA
    
    $
    24,219
    
    
    $
    24,869
    
    
    $
    47,212
    
    
    $
    48,358West Valley Blvd., Colton, CA
    
    
    33,705
    
    
    
    32,767
    
    
    
    65,814
    
    
    
    63,838Palmdale Blvd., Palmdale, CA
    
    
    16,448
    
    
    
    17,066
    
    
    
    31,766
    
    
    
    32,993DeAnza Country Shopping Center, Pedley, CA
    
    
    30,251
    
    
    
    34,733
    
    
    
    58,290
    
    
    
    65,421Varner Road, Thousand Palms, CA
    
    
    32,560
    
    
    
    33,563
    
    
    
    61,993
    
    
    
    67,423Total
    
    $
    137,183
    
    
    $
    142,998
    
    
    $
    265,075
    
    
    $
    278,033
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Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations 
continued
  Percentage of TotalGeneral & Administrative ExpenseThree Months Ended
    
    Six Months EndedJune 30,
    
    June 30,2009
    
    2008
    
    2009
    
    2008Accounting fees
    
    
    50.64
    %
    
    
    46.99
    %
    
    
    76.32
    %
    
    
    77.27
    %Distribution of information
to limited partners
    
    
    49.36
    %
    
    
    53.01
    %
    
    
    23.68
    %
    
    
    22.73
    %100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
   Significant Recent Accounting Pronouncements
  Off Balance Sheet Arrangements
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Item 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of Operations 
continued
 Critical Accounting Policies and Estimates
  Revenue Recognition:
 Property and Equipment:
  
 Item 3. Quantitative and Qualitative Disclosures About Market Risk.
  -11-




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Item 4T. Controls and Procedures
  As of the end of the period covered by this quarterly report, we carried out an
evaluation, under the supervision and with the participation of the Companys management,
including the Companys Chief Executive Officer and Treasurer, of the effectiveness of
the design and operation of the Companys disclosure controls and procedures. Based upon
that evaluation, Chief Executive Officer and Treasurer concluded that the Companys
disclosure controls and procedures are effective in timely alerting them to material
information relating to the Company required to be included in the Companys periodic
Securities and Exchange Commission filings.
  There were no significant changes in the Companys internal controls over financial
reporting that occurred during our most recent fiscal quarter that materially affected,
or is reasonably likely to materially affect, our internal control over financial
reporting.
  Not applicable
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PART II. OTHER INFORMATION
  
   31.1
    
    Paul J. B. Murphy, IIIs Certification pursuant to Section 302 of
the Sarbanes-Oxley Act of 200231.2
    
    Steven L. Brakes Certification pursuant to Section 302 of the
Sarbanes-Oxley Act of 200232.1
    
    Certification pursuant to subsections (a) and (b) of Section 1350,
Chapter 63 of Title 18, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002
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SIGNATURE
  DEL TACO RESTAURANT PROPERTIES II(a California limited partnership)RegistrantDel Taco LLCGeneral PartnerDate: August 14, 2009
    
    /s/ Steven L. BrakeSteven L. BrakeTreasurer
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EXHIBIT INDEX
 Exhibit No.
    
    Description31.1
    
    Paul J. B. Murphy, IIIs Certification pursuant to Section 302 of
the Sarbanes-Oxley Act of 200231.2
    
    Steven L. Brakes Certification pursuant to Section 302 of the
Sarbanes-Oxley Act of 200232.1
    
    Certification pursuant to subsections (a) and (b) of Section 1350,
Chapter 63 of Title 18, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002
 -15-