##### Table of Contents



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, 2010ORo

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(State or other jurisdiction
    of
    incorporation or organization)

33-0064245(I.R.S. Employer
    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
  Regulation S-T o o
  12b-2
  Large
    accelerated
    filer o
    Accelerated
    filer o
    Non-accelerated
    filer þ
    Smaller
    reporting
    company o   Rule 12b-2 o þ
  DOCUMENTS
    INCORPORATED BY REFERENCE
  Form S-11




---



##### 



DEL TACO RESTAURANT PROPERTIES II
 PAGE NUMBERPART I. FINANCIAL INFORMATIONItem 1. Financial StatementsCondensed Balance Sheets at June 30, 2010 (Unaudited) and
December 31, 2009
    
    3Condensed Statements of Income for the three and six months ended
June 30, 2010 and 2009 (Unaudited)
    
    4Condensed Statements of Cash Flows for the six months ended
June 30, 2010 and 2009 (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
  -2-




---



##### Table of Contents



PART I. FINANCIAL INFORMATION
 
 ITEM I.	FINANCIAL STATEMENTS
 DEL TACO RESTAURANT PROPERTIES II
 
 CONDENSED BALANCE SHEETS
 June 30,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    168,680
    
    
    $
    156,281Receivable from Del Taco LLC
    
    
    46,435
    
    
    
    45,681Deposits
    
    
    1,755
    
    
    
    1,913Total current assets
    
    
    216,870
    
    
    
    203,875PROPERTY 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
    
    
    2,104,438
    
    
    
    2,086,7401,839,397
    
    
    
    1,857,095$
    2,056,267
    
    
    $
    2,060,970LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    40,450
    
    
    $
    37,360Accounts payable
    
    
    11,760
    
    
    
    15,171Total current liabilities
    
    
    52,210
    
    
    
    52,531PARTNERS EQUITY:Limited partners; 27,006 units outstanding at June 30, 2010
and December 31, 2009
    
    
    2,033,068
    
    
    
    2,037,407General partner-Del Taco LLC
    
    
    (29,011
    )
    
    
    (28,968
    )2,004,057
    
    
    
    2,008,439$
    2,056,267
    
    
    $
    2,060,970
  -3-




---



##### Table of Contents



DEL TACO RESTAURANT PROPERTIES II
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009RENTAL REVENUES
    
    $
    139,639
    
    
    $
    137,183
    
    
    $
    268,973
    
    
    $
    265,075EXPENSES:General and administrative
    
    
    11,002
    
    
    
    12,805
    
    
    
    47,947
    
    
    
    50,794Depreciation
    
    
    8,849
    
    
    
    8,849
    
    
    
    17,698
    
    
    
    17,69819,851
    
    
    
    21,654
    
    
    
    65,645
    
    
    
    68,492Operating income
    
    
    119,788
    
    
    
    115,529
    
    
    
    203,328
    
    
    
    196,583OTHER INCOME:Interest
    
    
    45
    
    
    
    44
    
    
    
    90
    
    
    
    102Other
    
    
    750
    
    
    
    750
    
    
    
    975
    
    
    
    875Net income
    
    $
    120,583
    
    
    $
    116,323
    
    
    $
    204,393
    
    
    $
    197,560Net income per limited
partnership unit (note 2)
    
    $
    4.42
    
    
    $
    4.26
    
    
    $
    7.49
    
    
    $
    7.24Number of units used in computing
per unit amounts
    
    
    27,006
    
    
    
    27,006
    
    
    
    27,006
    
    
    
    27,006
  -4-




---



##### Table of Contents



DEL TACO RESTAURANT PROPERTIES II
 
 CONDENSED STATEMENTS OF CASH FLOWS
 (Unaudited)
 Six Months EndedJune 30,2010
    
    
    2009CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    204,393
    
    
    $
    197,560Adjustments 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
    
    
    (754
    )
    
    
    (767
    )Deposits
    
    
    158
    
    
    
    193Payable to limited partners
    
    
    3,090
    
    
    
    (1,120
    )Accounts payable
    
    
    (3,411
    )
    
    
    (943
    )Net cash provided by operating activities
    
    
    221,174
    
    
    
    212,621CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (208,775
    )
    
    
    (228,499
    )Net change in cash
    
    
    12,399
    
    
    
    (15,878
    )Beginning cash balance
    
    
    156,281
    
    
    
    160,340Ending cash balance
    
    $
    168,680
    
    
    $
    144,462
  -5-




---



##### Table of Contents



DEL TACO RESTAURANT PROPERTIES II
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010
 UNAUDITED
 NOTE 1  BASIS OF PRESENTATION
  NOTE 2  NET INCOME PER LIMITED PARTNERSHIP UNIT
   -6-




---



##### Table of Contents



DEL TACO RESTAURANT PROPERTIES II
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010
 UNAUDITED
 NOTE 3  LEASING ACTIVITIES
    NOTE 4  TRANSACTIONS WITH DEL TACO
    -7-




---



##### Table of Contents



DEL TACO RESTAURANT PROPERTIES II
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010
 UNAUDITED
 NOTE 5  DISTRIBUTIONS
  NOTE 6
 PAYABLE TO LIMITED PARTNERS
  NOTE 7
 CONCENTRATION OF RISK
   -8-




---



##### Table of Contents



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 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Bear Valley Rd., Victorville, CA
    
    $
    24,185
    
    
    $
    24,219
    
    
    $
    47,263
    
    
    $
    47,212West Valley Blvd., Colton, CA
    
    
    33,483
    
    
    
    33,705
    
    
    
    64,554
    
    
    
    65,814Palmdale Blvd., Palmdale, CA
    
    
    16,382
    
    
    
    16,448
    
    
    
    32,096
    
    
    
    31,766DeAnza Country Shopping Center, Pedley, CA
    
    
    29,321
    
    
    
    30,251
    
    
    
    56,949
    
    
    
    58,290Varner Road, Thousand Palms, CA
    
    
    36,268
    
    
    
    32,560
    
    
    
    68,111
    
    
    
    61,993Total
    
    $
    139,639
    
    
    $
    137,183
    
    
    $
    268,973
    
    
    $
    265,075
  -9-




---



##### Table of Contents



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 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Accounting fees
    
    
    49.65
    %
    
    
    50.64
    %
    
    
    74.70
    %
    
    
    76.32
    %Distribution of information
to limited partners
    
    
    50.35
    %
    
    
    49.36
    %
    
    
    25.30
    %
    
    
    23.68
    %100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
   Significant Recent Accounting Pronouncements
  Off -Balance Sheet Arrangements
  -10-




---



##### Table of Contents



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-




---



##### Table of Contents



Item 4T. Controls and Procedures
 (a)
    
    Evaluation of disclosure controls and procedures:
  (b)
    
    Changes in internal controls:
  (c)
    
    Asset-backed issuers:
  -12-




---



##### Table of Contents



PART II. OTHER INFORMATION
  
  (a)
    
    Exhibits
 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
 -13-




---



##### Table of Contents



SIGNATURE
  DEL TACO RESTAURANT PROPERTIES II
(a California limited partnership)
Registrant
Del Taco LLC
General PartnerDate:  August 16, 2010
    /s/ Steven L. BrakeSteven L. BrakeChief Financial Officer -14-




---



##### Table of Contents



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-