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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 September 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 StatementsCondensed Balance Sheets at September 30, 2009 (Unaudited) and
December 31, 2008
    
    
    3Condensed Statements of Income for the three and nine months ended
September 30, 2009 and 2008 (Unaudited)
    
    
    4Condensed Statements of Cash Flows for the nine months ended
September 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
 September 30,
    
    
    December 31,2009
    
    
    2008(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    174,845
    
    
    $
    160,340Receivable from Del Taco LLC
    
    
    44,479
    
    
    
    43,520Deposits
    
    
    1,991
    
    
    
    1,727Total current assets
    
    
    221,315
    
    
    
    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
    
    
    2,077,891
    
    
    
    2,051,3441,865,944
    
    
    
    1,892,491$
    2,087,259
    
    
    $
    2,098,078LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    36,379
    
    
    $
    35,651Accounts payable
    
    
    27,094
    
    
    
    14,655Total current liabilities
    
    
    63,473
    
    
    
    50,306PARTNERS EQUITY:Limited partners; 27,006 units outstanding at September 30, 2009
and December 31, 2008
    
    
    2,052,600
    
    
    
    2,076,346General partner-Del Taco LLC
    
    
    (28,814
    )
    
    
    (28,574
    )2,023,786
    
    
    
    2,047,772$
    2,087,259
    
    
    $
    2,098,078
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DEL TACO RESTAURANT PROPERTIES II
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2009
    
    
    2008
    
    
    2009
    
    
    2008RENTAL REVENUES
    
    $
    137,739
    
    
    $
    138,200
    
    
    $
    402,814
    
    
    $
    416,233EXPENSES:General and administrative
    
    
    17,380
    
    
    
    9,851
    
    
    
    68,174
    
    
    
    63,737Depreciation
    
    
    8,849
    
    
    
    8,849
    
    
    
    26,547
    
    
    
    26,54726,229
    
    
    
    18,700
    
    
    
    94,721
    
    
    
    90,284Operating income
    
    
    111,510
    
    
    
    119,500
    
    
    
    308,093
    
    
    
    325,949OTHER INCOME:Interest
    
    
    48
    
    
    
    268
    
    
    
    150
    
    
    
    967Other
    
    
    325
    
    
    
    600
    
    
    
    1,200
    
    
    
    4,175Net income
    
    $
    111,883
    
    
    $
    120,368
    
    
    $
    309,443
    
    
    $
    331,091Net income per limited
partnership unit (note 2)
    
    $
    4.10
    
    
    $
    4.41
    
    
    $
    11.34
    
    
    $
    12.14Number 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)
 Nine Months EndedSeptember 30,2009
    
    
    2008CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    309,443
    
    
    $
    331,091Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    26,547
    
    
    
    26,547Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    (959
    )
    
    
    2,682Deposits
    
    
    (264
    )
    
    
    (291
    )Payable to limited partners
    
    
    728
    
    
    
    351Accounts payable
    
    
    12,439
    
    
    
    610Net cash provided by operating activities
    
    
    347,934
    
    
    
    360,990CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (333,429
    )
    
    
    (363,806
    )Net increase (decrease) in cash
    
    
    14,505
    
    
    
    (2,816
    )Beginning cash balance
    
    
    160,340
    
    
    
    170,340Ending cash balance
    
    $
    174,845
    
    
    $
    167,524
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DEL TACO RESTAURANT PROPERTIES II
 
 NOTES TO CONDENSED FINANCIAL STATEMENTS
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2009
 UNAUDITED
 NOTE 1  BASIS OF PRESENTATION
  NOTE 2  NET INCOME PER LIMITED PARTNERSHIP UNIT
   -6-




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DEL TACO RESTAURANT PROPERTIES II
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2009
 UNAUDITED
 NOTE 3  LEASING ACTIVITIES
     NOTE 4  TRANSACTIONS WITH DEL TACO
    -7-




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DEL TACO RESTAURANT PROPERTIES II
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 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
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2009
    
    
    2008
    
    
    2009
    
    
    2008Bear Valley Rd., Victorville, CA
    
    $
    25,315
    
    
    $
    24,992
    
    
    $
    72,528
    
    
    $
    73,350West Valley Blvd., Colton, CA
    
    
    34,706
    
    
    
    33,061
    
    
    
    100,520
    
    
    
    96,899Palmdale Blvd., Palmdale, CA
    
    
    16,278
    
    
    
    17,230
    
    
    
    48,044
    
    
    
    50,223DeAnza Country Shopping Center, Pedley, CA
    
    
    30,159
    
    
    
    29,588
    
    
    
    88,448
    
    
    
    95,008Varner Road, Thousand Palms, CA
    
    
    31,281
    
    
    
    33,329
    
    
    
    93,274
    
    
    
    100,753Total
    
    $
    137,739
    
    
    $
    138,200
    
    
    $
    402,814
    
    
    $
    416,233
  -9-




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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
    
    Nine Months EndedSeptember 30,
    
    September 30,2009
    
    2008
    
    2009
    
    2008Accounting fees
    
    
    32.80
    %
    
    
    61.31
    %
    
    
    65.22
    %
    
    
    74.80
    %Distribution of information
to limited partners
    
    
    67.20
    %
    
    
    38.69
    %
    
    
    34.78
    %
    
    
    25.20
    %100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
   Significant Recent Accounting Pronouncements
  Off Balance Sheet Arrangements
  -10-




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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
 (a)
    
    Evaluation of disclosure 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, the 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.
 (b)
    
    Changes in internal controls:
 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.
 (c)
    
    Asset-backed issuers:
 Not applicable
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PART II. OTHER INFORMATION
  
 Item 6.
    
    Exhibits
 (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
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SIGNATURE
  DEL TACO RESTAURANT PROPERTIES II
(a California limited partnership)
Registrant
Del Taco LLC
General PartnerDate:  November 16, 2009
    /s/ Steven L. BrakeSteven L. BrakeTreasurer -14-




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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-