Attached files
| file | filename |
|---|---|
| EX-31.2 - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v193229_ex31-2.htm |
| EX-31.1 - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v193229_ex31-1.htm |
| EX-32.1 - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v193229_ex32-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-Q
x QUARTERLY REPORT UNDER
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the Quarter Ended June 30, 2010
¨ TRANSITION REPORT UNDER
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission
File No. 0-16701
UNIPROP
MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
a
Michigan Limited Partnership
(Exact
name of registrant as specified in its charter)
|
MICHIGAN
(State
or other jurisdiction of
incorporation
or organization)
|
38-2702802
(I.R.S.
employer
identification
number)
|
280
Daines Street, Birmingham, Michigan 48009
(Address
of principal executive offices) (Zip Code)
(248)
645-9220
(Registrant's
telephone number, including area code)
Securities
registered pursuant to Section 12(g) of the Act:
units of
beneficial assignments of limited partnership interest
Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.
Yes x No
¨
Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T during the
preceding 12 months (or for such shorter period that the registrant was
required to submit and post such files). Yes ¨
No ¨
Indicate
by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer, or a smaller reporting company.
See the definitions of “large accelerated filer,” “accelerated filer” and
“smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check
one):
Large
Accelerated filer ¨ Accelerated
filer ¨ Non-accelerated
filer ¨ Smaller
reporting company x
Indicate
by check mark whether the Registrant is a shell company (as defined in Rule
12b-2 of the Securities Exchange Act of
1934). Yes
¨ No
x
UNIPROP
MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A
MICHIGAN LIMITED PARTNERSHIP
INDEX
|
Page
|
||
|
PART
I
|
FINANCIAL
INFORMATION
|
|
|
ITEM
1.
|
FINANCIAL
STATEMENTS
|
|
|
Balance
Sheets
|
||
|
June
30, 2010 (Unaudited) and December 31, 2009
|
3
|
|
|
Statements
of Operations
|
||
|
Six
and Three months ended June 30, 2010 and 2009 (Unaudited)
|
4
|
|
|
Statement
of Partners’ Equity
|
||
|
Six
months ended June 30, 2010 (Unaudited)
|
4
|
|
|
Statements
of Cash Flows
|
||
|
Six
months ended June 30, 2010 and 2009 (Unaudited)
|
5
|
|
|
Notes
to Financial Statements
|
||
|
June
30, 2010 (Unaudited)
|
6
|
|
|
ITEM
2.
|
MANAGEMENT'S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
|
7
|
|
ITEM
3.
|
QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
9
|
|
ITEM
4.
|
CONTROLS
AND PROCEDURES
|
10
|
|
PART
II
|
OTHER
INFORMATION
|
10
|
|
ITEM
1.
|
LEGAL
PROCEEDINGS
|
10
|
|
ITEM
1A.
|
RISK
FACTORS
|
10
|
|
ITEM
6.
|
EXHIBITS
|
10
|
- 2
-
UNIPROP
MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A
MICHIGAN LIMITED PARTNERSHIP
BALANCE
SHEETS
|
June 30,2010
|
December 31, 2009
|
|||||||
|
(Unaudited)
|
||||||||
|
ASSETS
|
||||||||
|
Properties:
|
||||||||
|
Land
|
$ | 8,952,937 | $ | 8,952,937 | ||||
|
Buildings
And Improvements
|
41,545,282 | 41,422,578 | ||||||
|
Furniture
And Fixtures
|
610,911 | 576,801 | ||||||
| 51,109,130 | 50,952,316 | |||||||
|
Less
Accumulated Depreciation
|
(30,421,351 | ) | (29,674,778 | ) | ||||
| 20,687,779 | 21,277,538 | |||||||
|
Cash
And Cash Equivalents
|
7,258,630 | 7,370,544 | ||||||
|
Unamortized
Finance Costs
|
638,294 | 652,170 | ||||||
|
Manufactured
Homes and Improvements
|
730,496 | 412,635 | ||||||
|
Other
Assets
|
1,590,695 | 1,417,425 | ||||||
|
Total
Assets
|
$ | 30,905,894 | $ | 31,130,312 | ||||
|
June 30,2010
|
December 31, 2009
|
|||||||
|
(Unaudited)
|
||||||||
|
LIABILITIES
& PARTNERS' EQUITY
|
||||||||
|
Accounts
Payable
|
$ | 131,640 | $ | 95,517 | ||||
|
Other
Liabilities
|
648,685 | 416,672 | ||||||
|
Notes
Payable
|
22,549,700 | 22,750,674 | ||||||
|
Total
Liabilities
|
$ | 23,330,025 | $ | 23,262,863 | ||||
|
Partners'
Equity:
|
||||||||
|
General
Partner
|
418,394 | 416,024 | ||||||
|
Unit
Holders
|
7,157,475 | 7,451,425 | ||||||
|
Total
Partners' Equity
|
7,575,869 | 7,867,449 | ||||||
|
Total
Liabilities And Partners' Equity
|
$ | 30,905,894 | $ | 31,130,312 | ||||
See Notes
to Financial Statements
- 3
-
UNIPROP
MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A
MICHIGAN LIMITED PARTNERSHIP
|
STATEMENTS OF OPERATIONS
|
SIX MONTHS ENDED
|
THREE MONTHS ENDED
|
||||||||||||||
|
(unaudited)
|
June 30, 2010
|
June 30, 2009
|
June 30, 2010
|
June 30, 2009
|
||||||||||||
|
Income:
|
||||||||||||||||
|
Rental
Income
|
$ | 3,650,561 | $ | 3,628,871 | 1,812,952 | 1,821,805 | ||||||||||
|
Home
Sale Income
|
112,635 | 385,140 | 63,135 | 225,250 | ||||||||||||
|
Other
|
397,044 | 281,013 | 223,488 | 140,352 | ||||||||||||
|
Total
Income
|
4,160,240 | 4,295,024 | 2,099,575 | 2,187,407 | ||||||||||||
|
Operating
Expenses:
|
||||||||||||||||
|
Administrative
Expenses (Including $193,954, $192,793, $96,256 and $96,779, in
Property Management Fees Paid to an Affiliate for the Six and Three Month
Period Ended June 30, 2010 and 2009, respectively)
|
1,171,729 | 1,199,756 | 526,812 | 549,163 | ||||||||||||
|
Property
Taxes
|
507,951 | 492,979 | 253,947 | 245,757 | ||||||||||||
|
Utilities
|
311,243 | 311,894 | 147,663 | 143,694 | ||||||||||||
|
Property
Operations
|
281,967 | 551,551 | 136,688 | 166,361 | ||||||||||||
|
Depreciation
|
746,573 | 728,097 | 376,025 | 358,537 | ||||||||||||
|
Interest
|
763,626 | 776,546 | 380,978 | 387,492 | ||||||||||||
|
Home
Sale Expense
|
140,189 | 518,116 | 63,688 | 374,336 | ||||||||||||
|
Total
Operating Expenses
|
3,923,278 | 4,578,939 | 1,885,801 | 2,225,340 | ||||||||||||
|
Net
Income (Loss)
|
$ | 236,962 | $ | (283,915 | ) | $ | 213,774 | $ | (37,933 | ) | ||||||
|
Income
(Loss) per Limited Partnership Unit:
|
0.07 | (0.09 | ) | 0.06 | (0.01 | ) | ||||||||||
|
Distribution
Per Unit:
|
0.16 | 0.16 | 0.08 | 0.08 | ||||||||||||
|
|
||||||||||||||||
|
Weighted
Average Number Of Units Of Beneficial Assignment Of Limited
Partnership Interest Outstanding During The Six and Three
Month Period Ended June 30, 2010 and 2009.
|
3,303,387 | 3,303,387 | 3,303,387 | 3,303,387 | ||||||||||||
|
STATEMENT
OF PARTNERS' EQUITY (Unaudited)
|
||||||||||||
|
General Partner
|
Unit Holders
|
Total
|
||||||||||
|
Balance,
December 31, 2009
|
$ | 416,024 | $ | 7,451,425 | $ | 7,867,449 | ||||||
|
Distributions
|
(528,542 | ) | (528,542 | ) | ||||||||
|
Net
Income
|
2,370 | 234,592 | $ | 236,962 | ||||||||
|
Balance
as of June 30, 2010
|
$ | 418,394 | $ | 7,157,475 | $ | 7,575,869 | ||||||
See Notes
to Financial Statements
- 4
-
A MICHIGAN
LIMITED PARTNERSHIP
|
STATEMENTS
OF CASH FLOWS
|
||||||||
|
(Unaudited)
|
||||||||
|
SIX MONTHS ENDED
|
||||||||
|
June 30,2010
|
June 30,2009
|
|||||||
|
Cash
Flows From Operating Activities:
|
||||||||
|
Net
(Loss) Income
|
$ | 236,962 | $ | (283,915 | ) | |||
|
Adjustments
To Reconcile Net (Loss) Income
|
||||||||
|
To
Net Cash Provided By Operating Activities:
|
||||||||
|
Depreciation
|
746,573 | 728,097 | ||||||
|
Amortization
|
13,876 | 13,876 | ||||||
|
Decrease
(Increase) in Manufactured Homes and Home Improvements
|
(317,861 | ) | 273,513 | |||||
|
Increase In
Other Assets
|
(173,270 | ) | (439,033 | ) | ||||
|
Increase
In Accounts Payable
|
36,123 | 22,289 | ||||||
|
Increase
In Other Liabilities
|
232,013 | 185,284 | ||||||
|
Total
Adjustments
|
537,454 | 784,026 | ||||||
|
Net
Cash Provided By Operating Activities
|
774,416 | 500,111 | ||||||
|
Cash
Flows Used In Investing Activities:
|
||||||||
|
Purchase
of property and equipment
|
(156,814 | ) | (157,927 | ) | ||||
|
Cash
Flows From Financing Activities:
|
||||||||
|
Distributions
To Unit Holders
|
(528,542 | ) | (528,542 | ) | ||||
|
Payment
On Mortgage
|
(200,974 | ) | (188,125 | ) | ||||
|
Net
Cash Used In
|
||||||||
|
Financing
Activities
|
(729,516 | ) | (716,667 | ) | ||||
|
Decrease
In Cash and Equivalents
|
(111,914 | ) | (374,483 | ) | ||||
|
Cash
and Equivalents, Beginning
|
7,370,544 | 7,469,961 | ||||||
|
Cash
and Equivalents, Ending
|
$ | 7,258,630 | $ | 7,095,478 | ||||
See Notes
to Financial Statements
- 5
-
UNIPROP
MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A
MICHIGAN LIMITED PARTNERSHIP
NOTES
TO FINANCIAL STATEMENTS
June 30,
2010 (Unaudited)
1. Basis
of Presentation:
The
accompanying unaudited 2010 financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and with the instructions to Form 10-Q and Article 10 of Regulation
S-X. Accordingly, they do not include all of the information and
notes required by generally accepted accounting principles for complete
financial statements. In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included. The balance sheet at December 31,
2009 has been derived from the audited financial statements at that
date. Operating results for the three and six months ended June 30,
2010 are not necessarily indicative of the results that may be expected for the
year ending December 31, 2010, or for any other interim period. For
further information, refer to the consolidated financial statements and
footnotes thereto included in the Partnership’s Form 10-K for the year ended
December 31, 2009.
We have
evaluated subsequent events through the date of this filing. We do not believe
there are any material subsequent events which would require further
disclosure.
2. Mortgage
Payable:
On August
29, 2008, the Partnership refinanced its existing mortgage note payable and
executed seven new mortgages payable in the amount of $23,225,000 secured by the
seven properties of the Partnership. To pay off the prior mortgage balance of
$25,277,523 and the costs of refinancing, the Partnership transferred $2,735,555
from cash reserves. The mortgages are payable in monthly installments
of interest and principal through September 2033. Interest on these
notes is accrued at a fixed rate of 6.625% for five years, at which time, the
rate will reset to the lender’s then prevailing market rate. As of
June 30, 2010 the balance on these notes was $22,549,700.
The
Partnership incurred $693,798 in financing costs as a result of the refinancing
which is being amortized over the life of the loan. This included a
1% fee payable to an affiliate of the General Partner.
Future
maturities on the note payable for the next five years and thereafter are as
follows: remainder of 2010 - $207,724; 2011 - $436,612; 2012 - $466,432; 2013 -
$498,289; 2014 - $532,321; and thereafter - $20,408,322.
- 6
-
ITEM
2.
MANAGEMENT'S
DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND
RESULTS OF
OPERATIONS
Critical Accounting
Policies
See Part
II, Item 7 – Critical Accounting Policies, our consolidated financial statements
and related notes in Part IV, Item 15 of our Annual Report on Form 10-K for the
year ended December 31, 2009 filed with the SEC on March 22, 2010 for accounting
policies and related estimates we believe are the most critical to understanding
condensed consolidated financial statements, financial conditions and results of
operations and which require complex management judgment and assumptions or
involve uncertainties. There have been no material changes to the
critical accounting policies and estimates previously disclosed in that
report.
Liquidity and Capital
Resources
Partnership
liquidity is based, in part, upon its investment strategy. Upon
acquisition, the Partnership anticipated owning the properties for seven to ten
years. All of the properties have been owned by the Partnership
for more than ten years. The General Partner may elect to have the
Partnership own the properties for as long as, in the opinion of the General
Partner, it is in the best interest of the Partnership to do so.
The
Partnership's capital resources consist primarily of its seven manufactured home
communities. On August 29, 2008, the Partnership refinanced these properties
with Stancorp Mortgage Investors, LLC (the “Refinancing”) in the amount of
$23,225,000 secured by the seven properties of the Partnership. To pay off the
prior mortgage balance of $25,277,523 and the costs of refinancing, the
Partnership transferred $2,735,555 from cash reserves. The mortgages
are payable in monthly installments of interest and principal through September
2033. Interest on these notes are accrued at a fixed rate of 6.625%
for five years, at which time, the rate will reset to the lenders then
prevailing market rate. As of June 30, 2010 the balance on these
notes was $22,549,700.
The
Partnership incurred $693,798 in financing costs as a result of the refinancing
which is being amortized over the life of the loan. This included a
1% fee payable to an affiliate of the General Partner.
As a
result of the Refinancing, all of the Partnership’s seven properties are
mortgaged. At the time of the Refinancing, the aggregate principal amount due
under the seven mortgage notes was $23,225,000 and the aggregate fair market
value of the Partnership’s mortgaged properties was $73,550,000. The
Partnership expects to meet its short-term liquidity needs generally through its
working capital provided by operating activities.
The
General Partner has decided to distribute $264,271, or $.08 per unit, to the
unit holders for the second quarter ended June 30, 2010. The General Partner
will continue to monitor cash flow generated by the Partnership’s seven
properties during the coming quarters. If cash flow generated is
greater or lesser than the amount needed to maintain the current distribution
level, the General Partner may elect to reduce or increase the level of future
distributions paid to Unit Holders.
- 7
-
As of
June 30, 2010, the Partnership’s cash balance amounted to $7,258,630. The level
of cash balance maintained is at the discretion of the General
Partner.
Results of
Operations
Overall,
as illustrated in the following table, the Partnership's seven properties
reported combined occupancy of 51% at the end of June 2010 versus 53% at the end
of June 2009. The average monthly homesite rent as of June 30, 2010 was
approximately $482; versus $473 from June 2009 (average rent not a weighted
average).
|
Total
|
Occupied
|
Occupancy
|
Average*
|
|||||||||||||
|
Capacity
|
Sites
|
Rate
|
Rent
|
|||||||||||||
|
Ardmor
Village
|
339 | 168 | 50 | % | $ | 495 | ||||||||||
|
Camelot
Manor
|
335 | 107 | 32 | % | 403 | |||||||||||
|
Dutch
Hills
|
278 | 116 | 42 | % | 404 | |||||||||||
|
El
Adobe
|
367 | 206 | 56 | % | 510 | |||||||||||
|
Stonegate
Manor
|
308 | 114 | 37 | % | 394 | |||||||||||
|
Sunshine
Village
|
356 | 227 | 64 | % | 595 | |||||||||||
|
West
Valley
|
421 | 324 | 77 | % | 576 | |||||||||||
|
Total
on 6/30/10:
|
2,404 | 1,262 | 51 | % | $ | 482 | ||||||||||
|
Total
on 6/30/09:
|
2,404 | 1,318 | 53 | % | $ | 473 | ||||||||||
*Not
a weighted average
|
Gross Revenue
|
Net Operating Income
and Net (Loss) Income
|
Gross Revenue
|
Net Operating Income
and Net (Loss) Income
|
|||||||||||||||||||||||||||||
|
6/30/2010
|
6/30/2009
|
6/30/2010
|
6/30/2009
|
06/30/2010
|
06/30/2009
|
06/30/2010
|
06/30/2009
|
|||||||||||||||||||||||||
|
three months ended
|
three months ended
|
six months ended
|
six months ended
|
|||||||||||||||||||||||||||||
|
Ardmor
|
$ | 254,616 | $ | 268,987 | $ | 127,103 | $ | 103,974 | $ | 509,600 | $ | 530,233 | $ | 256,155 | $ | 227,476 | ||||||||||||||||
|
Camelot
Manor
|
150,025 | 153,124 | 33,661 | 46,405 | 290,780 | 339,032 | 73,129 | 85,171 | ||||||||||||||||||||||||
|
Dutch
Hills
|
140,969 | 170,791 | 48,329 | 67,961 | 288,827 | 337,406 | 104,222 | 140,695 | ||||||||||||||||||||||||
|
El
Adobe
|
359,846 | 330,722 | 227,276 | 155,436 | 676,340 | 643,714 | 395,631 | 320,618 | ||||||||||||||||||||||||
|
Stonegate
|
146,355 | 180,493 | 50,326 | 52,022 | 311,481 | 338,490 | 97,617 | 104,915 | ||||||||||||||||||||||||
|
Sunshine
|
438,276 | 411,097 | 189,017 | 172,607 | 888,838 | 806,847 | 390,970 | 342,517 | ||||||||||||||||||||||||
|
West
Valley
|
602,916 | 668,061 | 414,019 | 255,689 | 1,181,314 | 1,281,509 | 800,523 | 621,591 | ||||||||||||||||||||||||
| 2,093,003 | 2,183,275 | 1,089,731 | 854,094 | 4,147,180 | 4,277,231 | 2,118,247 | 1,842,983 | |||||||||||||||||||||||||
|
Partnership
Management
|
6,572 | 4,132 | (96,231 | ) | (110,955 | ) | 13,060 | 17,793 | (316,599 | ) | (317,916 | ) | ||||||||||||||||||||
|
Other
Expense
|
— | — | (22,723 | ) | (35,043 | ) | — | — | (54,487 | ) | (304,339 | ) | ||||||||||||||||||||
|
Interest
Expense
|
— | — | (380,978 | ) | (387,492 | ) | — | — | (763,626 | ) | (776,546 | ) | ||||||||||||||||||||
|
Depreciation
|
— | — | (376,025 | ) | (358,537 | ) | — | — | (746,573 | ) | (728,097 | ) | ||||||||||||||||||||
| $ | 2,099,575 | $ | 2,187,407 | $ | 213,774 | $ | (37,933 | ) | $ | 4,160,240 | $ | 4,295,024 | $ | 236,962 | $ | (283,915 | ) | |||||||||||||||
- 8
-
Net
Operating Income (“NOI”) is a non-GAAP financial measure equal to net income,
the most comparable GAAP financial measure, plus depreciation, interest expense,
partnership management expense, and other expenses. The Partnership
believes that NOI is useful to investors and the Partnership’s management as an
indication of the Partnership’s ability to service debt and pay cash
distributions. NOI presented by the Partnership may not be comparable
to NOI reported by other companies that define NOI differently, and should not
be considered as an alternative to net income as an indication of performance or
to cash flows as a measure of liquidity or ability to make
distributions.
Comparison
of Three Months Ended June 30, 2010 to Three Month Ended June 30,
2009
Gross
revenues decreased $87,832 to $2,099,575 in 2010, from $2,187,407 in
2009. This was due to lower occupancy and decreased home sale
activity, which was offset by an increase in other income.
As
described in the Statements of Operations, total operating expenses decreased
$339,539, to $1,885,801 in 2010, as compared to $2,225,340 in
2009. This was due to decreased home sale activity.
As a
result of the aforementioned factors, the Partnership experienced Net Income of
$213,774 for the second quarter of 2010 compared to a Net Loss of $37,933 for
the second quarter of 2009.
Comparison
of Six Months Ended June 30, 2010 to Six Months Ended June 30, 2009
Gross
revenues decreased $134,784 to $4,160,240 in 2010, from $4,295,024 in
2009. The decrease was mainly due to a decrease in home sale
activity, which was offset by increases in both rental and other
income.
As
described in the Statements of Operations, total operating expenses decreased
$655,661, to $3,923,278 in 2010, as compared to $4,578,939 in
2009. The decrease was primarily a result of decreased property
operations expenditures relating to the relocation of residents from a
neighboring, closed manufactured home community into the Sunshine Village
property in Davie, Florida during 2009 and decreased home sale
expenses.
As a
result of the aforementioned factors, the Partnership experienced Net Income of
$236,962 in 2010 as compared to a Net Loss of $283,915 in 2009.
ITEM
3.
QUANTITATIVE
AND QUALITATIVE
DISCLOSURES
ABOUT MARKET RISK
The
Partnership is exposed to interest rate rise primarily through its borrowing
activities. There is inherent roll over risk for borrowings as they mature and
are renewed at current market rates. The extent of this risk is not
quantifiable or predictable because of the variability of future interest rates
and the Partnership’s future financing requirements.
- 9
-
Note
Payable: At June 30, 2010 the Partnership had notes payable
outstanding in the amount of $22,549,700. Interest on these notes is
at a fixed annual rate of 6.625% through September 2013, at which time, the rate
will reset to the lender’s then prevailing market rate.
The
Partnership does not enter into financial instruments transactions for trading
or other speculative purposes or to manage its interest rate
exposure.
ITEM
4.
CONTROLS
AND PROCEDURES
As of the
end of the period covered by this report, the Partnership carried out an
evaluation, under the supervision and with the participation of the Principal
Executive Officer and the Principal Financial Officer, of the effectiveness of
the design and operation of our disclosure controls and procedures pursuant to
Exchange Act Rule 13a-15. Based upon, and as of the date of, this
evaluation, the Principal Executive Officer and the Principal Financial Officer
concluded that our disclosure controls and procedures are effective to ensure
that information required to be disclosed in the quarterly report is recorded,
processed, summarized and reported as and when required.
There was
no change in the Partnership’s internal controls over financial reporting that
occurred during the most recent completed quarter that has materially affected,
or is reasonably likely to materially affect, the Partnership’s internal control
over financial reporting.
PART II - OTHER
INFORMATION
|
ITEM
1.
|
LEGAL
PROCEEDINGS
|
None.
|
ITEM
1A.
|
RISK
FACTORS
|
In
addition to the other information set forth in this report, you should carefully
consider the factors discussed in Part I, “Item IA. Risk Factors” in
our Annual Report on Form 10-K for the year ended December 31, 2009, which could
materially affect our business, financial condition or future
results. The risks described in our Annual Report on Form 10-K are
not the only risks facing our Company. Additional risks and
uncertainties not currently known to us or that we currently deem to be
immaterial also may adversely affect our business, financial condition and/or
operating results.
ITEM
6.
EXHIBITS
|
Exhibit
31.1
|
Principal
Executive Officer Certification pursuant to Rule 13a-14(a)/15d-14(a) of
The Securities and Exchange Act of 1934, as amended
|
|
Exhibit
31.2
|
Principal
Financial Officer Certification pursuant to Rule 13a-14(a)/15d-14(a) of
The Securities and Exchange Act of 1934, as amended
|
|
Exhibit
32.1
|
Certifications
pursuant to 18 U.S C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes –Oxley Act of
2002.
|
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-
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
Uniprop
Manufactured Housing Communities
|
||||
|
Income
Fund II, a Michigan Limited Partnership
|
||||
|
BY:
|
Genesis
Associates Limited Partnership,
|
|||
|
General
Partner
|
||||
|
BY:
|
Uniprop,
Inc.,
|
|||
|
its
Managing General Partner
|
||||
|
By:
|
/s/ Paul M. Zlotoff
|
|||
|
Paul
M. Zlotoff, President
|
||||
|
By:
|
/s/ Joel Schwartz
|
|||
| Joel Schwartz, Principal Financial Officer | ||||
|
Dated:
August 11, 2010
|
||||
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