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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,
    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. 0-16191
  DEL TACO RESTAURANT PROPERTIES
    I
  (Exact name of registrant as
    specified in its charter)
  California(State or other jurisdiction
    of 
    incorporation or organization)

95-3852699(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




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DEL TACO RESTAURANT PROPERTIES I
 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
    
    
    11PART II. OTHER INFORMATIONItem 6. Exhibits
    
    
    12SIGNATURE
    
    
    13EX-31.1EX-31.2EX-32.1
  -2-




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PART I. FINANCIAL INFORMATION
 
 ITEM I. FINANCIAL STATEMENTS
 DEL TACO RESTAURANT PROPERTIES I
 
 CONDENSED BALANCE SHEETS
 June 30,
    
    
    December 31,2010
    
    
    2009(Unaudited)ASSETSCURRENT ASSETS:Cash
    
    $
    220,809
    
    
    $
    218,535Receivable from Del Taco LLC
    
    
    61,956
    
    
    
    63,552Deposits
    
    
    1,170
    
    
    
    1,302Total current assets
    
    
    283,935
    
    
    
    283,389PROPERTY AND EQUIPMENT:Land and improvements
    
    
    1,929,685
    
    
    
    1,929,685Buildings and improvements
    
    
    1,013,134
    
    
    
    1,013,134Machinery and equipment
    
    
    1,136,026
    
    
    
    1,136,0264,078,845
    
    
    
    4,078,845Lessaccumulated depreciation
    
    
    2,149,405
    
    
    
    2,134,9311,929,440
    
    
    
    1,943,914$
    2,213,375
    
    
    $
    2,227,303LIABILITIES AND PARTNERS EQUITYCURRENT LIABILITIES:Payable to limited partners
    
    $
    43,450
    
    
    $
    39,926Accounts payable
    
    
    4,693
    
    
    
    8,463Total current liabilities
    
    
    48,143
    
    
    
    48,389PARTNERS EQUITY:Limited partners; 8,751 units outstanding at June 30, 2010
and December 31, 2009
    
    
    1,903,483
    
    
    
    1,917,028General partner-Del Taco LLC
    
    
    261,749
    
    
    
    261,8862,165,232
    
    
    
    2,178,914$
    2,213,375
    
    
    $
    2,227,303
  -3-




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DEL TACO RESTAURANT PROPERTIES I
 
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009RENTAL REVENUES
    
    $
    186,091
    
    
    $
    185,139
    
    
    $
    365,853
    
    
    $
    360,115EXPENSES:General and administrative
    
    
    10,336
    
    
    
    13,169
    
    
    
    46,646
    
    
    
    49,912Depreciation
    
    
    7,237
    
    
    
    7,237
    
    
    
    14,474
    
    
    
    14,47417,573
    
    
    
    20,406
    
    
    
    61,120
    
    
    
    64,386Operating income
    
    
    168,518
    
    
    
    164,733
    
    
    
    304,733
    
    
    
    295,729OTHER INCOME:Interest
    
    
    60
    
    
    
    69
    
    
    
    124
    
    
    
    144Other
    
    
    500
    
    
    
    375
    
    
    
    625
    
    
    
    450Net income
    
    $
    169,078
    
    
    $
    165,177
    
    
    $
    305,482
    
    
    $
    296,323Net income per limited
partnership unit (Note 2)
    
    $
    19.13
    
    
    $
    18.69
    
    
    $
    34.56
    
    
    $
    33.52Number of units used in computing
per unit amounts
    
    
    8,751
    
    
    
    8,751
    
    
    
    8,751
    
    
    
    8,751
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DEL TACO RESTAURANT PROPERTIES I
 
 CONDENSED STATEMENTS OF CASH FLOWS
 (Unaudited)
 Six Months EndedJune 30,2010
    
    
    2009CASH FLOWS FROM OPERATING ACTIVITIES:Net income
    
    $
    305,482
    
    
    $
    296,323Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation
    
    
    14,474
    
    
    
    14,474Changes in operating assets and liabilities:Receivable from Del Taco LLC
    
    
    1,596
    
    
    
    1,599Deposits
    
    
    132
    
    
    
    125Payable to limited partners
    
    
    3,524
    
    
    
    3,398Accounts payable
    
    
    (3,770
    )
    
    
    146Net cash provided by operating activities
    
    
    321,438
    
    
    
    316,065CASH FLOWS FROM FINANCING ACTIVITIES:Cash distributions to partners
    
    
    (319,164
    )
    
    
    (330,165
    )Net change in cash
    
    
    2,274
    
    
    
    (14,100
    )Beginning cash balance
    
    
    218,535
    
    
    
    207,772Ending cash balance
    
    $
    220,809
    
    
    $
    193,672
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DEL TACO RESTAURANT PROPERTIES I
 
 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
   NOTE 3  LEASING ACTIVITIES
  -6-




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DEL TACO RESTAURANT PROPERTIES I
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010
 UNAUDITED
 NOTE 3  LEASING ACTIVITIES  continued
   NOTE 4  TRANSACTIONS WITH DEL TACO
    NOTE 5  DISTRIBUTIONS
  -7-




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DEL TACO RESTAURANT PROPERTIES I
 NOTES TO CONDENSED FINANCIAL STATEMENTS  CONTINUED
 FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010
 UNAUDITED
 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 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Riverside Avenue, Rialto, CA
    
    $
    29,872
    
    
    $
    28,098
    
    
    $
    58,151
    
    
    $
    55,319Elden Avenue, Moreno Valley, CA
    
    
    25,516
    
    
    
    25,023
    
    
    
    50,058
    
    
    
    48,112Foothill Boulevard, La Verne, CA
    
    
    42,263
    
    
    
    43,589
    
    
    
    82,898
    
    
    
    84,468Baseline & Archibald, Rancho Cucamonga,
CA
    
    
    28,148
    
    
    
    29,802
    
    
    
    55,800
    
    
    
    58,040Elkhorn Boulevard, Sacramento, CA
    
    
    26,223
    
    
    
    25,057
    
    
    
    51,514
    
    
    
    48,461Haven Avenue, Rancho Cucamonga, CA
    
    
    34,069
    
    
    
    33,570
    
    
    
    67,432
    
    
    
    65,715Total
    
    $
    186,091
    
    
    $
    185,139
    
    
    $
    365,853
    
    
    $
    360,115
  -9-




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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations 
continued
  Percent of TotalGeneral & Administrative ExpenseThree Months Ended
    
    
    Six Months EndedJune 30,
    
    
    June 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Accounting fees
    
    
    48.51
    %
    
    
    46.57
    %
    
    
    74.29
    %
    
    
    68.19
    %Distribution of information
to limited partners
    
    
    51.49
    %
    
    
    53.43
    %
    
    
    25.71
    %
    
    
    31.81
    %100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
    
    
    100.00
    %
   Significant Recent Accounting Pronouncements
  Off-Balance Sheet Arrangements
  Critical Accounting Policies and Estimates
  -10-




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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations 
continued
 Revenue Recognition:
 Property and Equipment:
  
 Item 3. Quantitative and Qualitative Disclosures About Market Risk.
  
 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 Chief Financial Officer, 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 Chief Financial
Officer 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.
 -11-




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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 I
(a California limited partnership)
Registrant
Del Taco LLC
General PartnerDate: August 16, 2010
    /s/ Steven L. BrakeSteven L. BrakeChief Financial Officer -13-




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EXHIBIT INDEX
 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
 -14-