-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L6rlbWHFi2YsI+KIDauToptpun8umpLNxm/A15a5mTWuZ5q1im5m08hhnaH5PQng iJQTKQPo3LEfmylYxv8PZw== 0001144204-10-059237.txt : 20101112 0001144204-10-059237.hdr.sgml : 20101111 20101112063142 ACCESSION NUMBER: 0001144204-10-059237 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20100930 FILED AS OF DATE: 20101112 DATE AS OF CHANGE: 20101112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ CENTRAL INDEX KEY: 0000805993 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 382702802 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-16701 FILM NUMBER: 101182461 BUSINESS ADDRESS: STREET 1: 280 DAINES ST STREET 2: 3RD FLOOR CITY: BIRMINGHAM STATE: MI ZIP: 48009 BUSINESS PHONE: 2486459261 MAIL ADDRESS: STREET 1: 280 DAINES ST STREET 2: 3RD FLOOR CITY: BIRMINGHAM STATE: MI ZIP: 48009-6250 10-Q 1 v201884_10q.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 September 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
38-2702802
(State or other jurisdiction of
(I.R.S. employer
incorporation or organization)
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
   
 
September 30, 2010 (Unaudited) and
   
 
December 31, 2009
 
3
       
 
Statements of Operations
   
 
Nine and Three months ended September 30, 2010
   
 
and 2009 (Unaudited)
 
4
       
 
Statement of Partners’ Equity
   
 
Nine months ended September 30, 2010 (Unaudited)
 
4
       
 
Statements of Cash Flows
   
 
Nine months ended September 30, 2010 and 2009 (Unaudited)
 
5
       
 
Notes to Financial Statements
   
 
September 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
 
10
       
ITEM 4.
CONTROLS AND PROCEDURES
 
10
       
PART II
OTHER INFORMATION
 
10
       
ITEM 1.
LEGAL PROCEEDINGS
 
10
       
ITEM 1A.    
RISK FACTORS
 
10
       
ITEM 6.
EXHIBITS
 
11

 
- 2 - -

 

UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A MICHIGAN LIMITED PARTNERSHIP

BALANCE SHEETS
 
ASSETS
 
   
September 30,2010
   
December 31, 2009
 
   
(Unaudited)
       
Properties:
           
Land
  $ 8,952,937     $ 8,952,937  
Buildings And Improvements
    41,582,057       41,422,578  
Furniture And Fixtures
    613,094       576,801  
      51,148,088       50,952,316  
                 
Less Accumulated Depreciation
    (30,797,854 )     (29,674,778 )
      20,350,234       21,277,538  
                 
Cash And Cash Equivalents
    7,179,217       7,370,544  
Unamortized Finance Costs
    631,356       652,170  
Manufactured Homes and Improvements
    827,212       412,635  
Other Assets
    1,542,764       1,417,425  
                 
Total Assets
  $ 30,530,783     $ 31,130,312  
                 
LIABILITIES & PARTNERS' EQUITY
               
                 
   
September 30,2010
   
December 31, 2009
 
   
(Unaudited)
         
Accounts Payable
  $ 110,217     $ 95,517  
Other Liabilities
    627,364       416,672  
Notes Payable
    22,446,696       22,750,674  
                 
Total Liabilities
  $ 23,184,277     $ 23,262,863  
                 
Partners' Equity:
               
General Partner
    418,743       416,024  
Unit Holders
    6,927,763       7,451,425  
                 
Total Partners' Equity
    7,346,506       7,867,449  
                 
Total Liabilities And
               
Partners' Equity
  $ 30,530,783     $ 31,130,312  

See Notes to Financial Statements

 
- 3 - -

 

UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A MICHIGAN LIMITED PARTNERSHIP

STATEMENTS OF OPERATIONS
 
NINE MONTHS ENDED
   
THREE MONTHS ENDED
 
(unaudited)
 
September 30, 2010
   
September 30, 2009
   
September 30, 2010
   
September 30, 2009
 
                         
Income:
                       
Rental Income
  $ 5,434,529     $ 5,468,039       1,783,968       1,839,168  
Home Sale Income
    153,665       449,200       41,030       64,060  
Other
    541,784       420,905       144,740       139,892  
                                 
Total Income
    6,129,978       6,338,144       1,969,738       2,043,120  
                                 
Operating Expenses:
                               
Administrative Expenses
                               
(Including $289,010, $290,395, $95,056 and $97,602, in Property Management Fees Paid to an Affiliate for the Nine and Three Month Period Ended September 30, 2010 and 2009, respectively)
    1,718,990       1,753,150       547,261       553,394  
Property Taxes
    761,829       738,670       253,878       245,691  
Utilities
    470,241       474,517       158,998       162,623  
Property Operations
    444,121       733,064       162,154       181,513  
Depreciation
    1,123,076       1,098,257       376,503       370,160  
Interest
    1,142,909       1,162,450       379,283       385,904  
Home Sale Expense
    196,942       626,621       56,753       108,505  
                                 
Total Operating Expenses
    5,858,108       6,586,729       1,934,830       2,007,790  
                                 
Net Income (Loss)
  $ 271,870     $ (248,585 )   $ 34,908     $ 35,330  
                                 
Income (Loss) per Limited Partnership Unit:
    0.08       (0.08 )     0.01       0.01  
                                 
Distribution Per Unit:
    0.24       0.24       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 September 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
            (792,813 )     (792,813 )
Net Income
    2,719       269,151     $ 271,870  
                         
Balance as of September 30, 2010
  $ 418,743     $ 6,927,763     $ 7,346,506  

See Notes to Financial Statements

 
- 4 - -

 

UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A MICHIGAN LIMITED PARTNERSHIP
 
STATEMENTS OF CASH FLOWS
(Unaudited)
 
   
NINE MONTHS ENDED
 
   
September 30,2010
   
September 30,2009
 
             
Cash Flows From Operating Activities:
           
Net (Loss) Income
  $ 271,870     $ (248,585 )
                 
Adjustments To Reconcile Net (Loss) Income
               
To Net Cash Provided By
               
Operating Activities:
               
Depreciation
    1,123,076       1,098,257  
Amortization
    20,814       20,814  
(Increase) Decrease  in Manufactured Homes and Home Improvements
    (414,577 )     274,015  
Increase  In Other Assets
    (125,339 )     (341,863 )
Increase In Accounts Payable
    14,700       48,467  
Increase In Other Liabilities
    210,692       135,560  
                 
Total Adjustments
    829,366       1,235,250  
                 
Net Cash Provided By
               
Operating Activities
    1,101,236       986,665  
                 
Cash Flows Used In Investing Activities:
               
Purchase of property and equipment
    (195,772 )     (174,288 )
                 
Cash Flows From Financing Activities:
               
Distributions To Unit Holders
    (792,813 )     (792,813 )
Payment On Mortgage
    (303,978 )     (284,544 )
                 
Net Cash Used In
               
Financing Activities
    (1,096,791 )     (1,077,357 )
                 
Decrease In Cash and Equivalents
    (191,327 )     (264,980 )
Cash and Equivalents, Beginning
    7,370,544       7,469,961  
                 
Cash and Equivalents, Ending
  $ 7,179,217     $ 7,204,981  

See Notes to Financial Statements

 
- 5 - -

 

UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II,
A MICHIGAN LIMITED PARTNERSHIP

NOTES TO FINANCIAL STATEMENTS
September 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 nine months ended September 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 September 30, 2010 the balance on these notes was $22,446,696.

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 - $104,720; 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 September 30, 2010 the balance on these notes was $22,446,696.

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 third quarter ended September 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 September 30, 2010, the Partnership’s cash balance amounted to $7,179,217. 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 50% at the end of September 2010 versus 54% at the end of September 2009. The average monthly homesite rent as of September 30, 2010 was approximately $482; versus $475 from September 2009 (average rent not a weighted average).


   
Total
   
Occupied
   
Occupancy
   
Average*
 
   
Capacity
   
Sites
   
Rate
   
Rent
 
Ardmor Village
    339       164       48 %   $ 495  
Camelot Manor
    335       104       31 %     403  
Dutch Hills
    278       114       41 %     404  
El Adobe
    367       205       56 %     510  
Stonegate Manor
    308       113       37 %     394  
Sunshine Village
    356       227       64 %     595  
West Valley
    421       321       76 %     576  
                                 
Total on 9/30/10:
    2,404       1,248       50 %   $ 482  
Total on 9/30/09:
    2,404       1,297       54 %   $ 475  
*Not a weighted average

   
Gross Revenue
   
Net Operating Income
and Net (Loss) Income
   
Gross Revenue
   
Net Operating Income
and Net (Loss) Income
 
   
9/30/2010
   
9/30/2009
   
9/30/2010
   
9/30/2009
   
09/30/2010
   
09/30/2009
   
09/30/2010
   
09/30/2009
 
   
three months ended
   
three months ended
   
nine months ended
   
nine months ended
 
                                                 
Ardmor
  $ 251,991     $ 257,752     $ 122,152     $ 128,054     $ 761,591     $ 787,985     $ 378,307     $ 355,530  
Camelot Manor
    140,800       169,522       27,268       24,648       431,580       508,554       100,397       109,819  
Dutch Hills
    154,298       157,367       41,184       66,564       443,125       494,773       145,406       207,259  
El Adobe
    303,797       302,348       145,220       143,383       980,137       946,062       540,851       464,001  
Stonegate
    156,029       160,338       48,770       61,136       467,510       498,828       146,387       166,051  
Sunshine
    398,440       384,719       195,011       169,634       1,287,278       1,191,566       585,981       512,151  
West Valley
    556,494       604,319       352,193       340,001       1,737,808       1,885,828       1,152,716       961,592  
      1,961,849       2,036,365       931,798       933,420       6,109,029       6,313,596       3,050,045       2,776,403  
Partnership Management
    7,889       6,755       (100,188 )     (100,279 )     20,949       24,548       (416,787 )     (418,195 )
Other Expense
    ——       ——       (40,916 )     (41,747 )     ——       ——       (95,403 )     (346,086 )
                                                                 
Interest Expense
    ——       ——       (379,283 )     (385,904 )     ——       ——       (1,142,909 )     (1,162,450 )
                                                                 
Depreciation
    ——       ——       (376,503 )     (370,160 )     ——       ——       (1,123,076 )     (1,098,257 )
    $ 1,969,738     $ 2,043,120     $ 34,908     $ 35,330     $ 6,129,978     $ 6,338,144     $ 271,870     $ (248,585 )

 
- 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 September 30, 2010 to Three Month Ended September 30, 2009

Gross revenues decreased $73,382 to $1,969,738 in 2010, from $2,043,120 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 $72,960, to $1,934,830 in 2010, as compared to $2,007,790 in 2009.  This was mainly due to decreased home sale activity.

As a result of the aforementioned factors, the Partnership experienced Net Income of $34,908 for the third quarter of 2010 as compared to Net Income of $35,330 for the third quarter of 2009.

Comparison of Nine Months Ended September 30, 2010 to Nine Months EndedSeptember 30, 2009

Gross revenues decreased $208,166 to $6,129,978 in 2010, from $6,338,144 in 2009.  The decrease was mainly 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 $728,621, to $5,858,108 in 2010, as compared to $6,586,729 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 $271,870 in 2010 as compared to a Net Loss of $248,585 in 2009.

 
- 9 - -

 

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.

Note Payable:  At September 30, 2010 the Partnership had notes payable outstanding in the amount of $22,446,696.  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.

 
- 10 - -

 

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.

 
- 11 - -

 

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: November 12, 2010

 
- 12 - -

 
EX-31.1 2 v201884_ex31-1.htm
Exhibit 31.1

I, Paul M Zlotoff, certify that:
 
1.
I have reviewed this quarterly report on Form 10-Q of Uniprop Manufactured Housing Income Fund II;
 
2.
Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.
Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:
 
 
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 
b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
 
c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
 
d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
 
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
 
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
Date: November 12, 2010
Signature:   
/s/ Paul M. Zlotoff
 
     
 
Paul M. Zlotoff, Principal Executive Officer
 
 
President & Director of Uniprop, Inc.
 

 
 

 
EX-31.2 3 v201884_ex31-2.htm

Exhibit 31.2

I, Joel Schwartz, certify that:
 
1.
I have reviewed this quarterly report on Form 10-Q of Uniprop Manufactured Housing Income Fund II;
 
2.
Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this l report;
 
3.
Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:
 
a.   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for  external purposes in accordance with generally accepted accounting principles;
 
c.   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
d.   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
 
a.
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
 
b.
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
Date: November 12, 2010
Signature:   
/s/ Joel Schwartz
 
     
 
Joel Schwartz, Principal Financial Officer
 
 
Chief Financial Officer of Uniprop Inc.
 

 
 

 
EX-32.1 4 v201884_ex32-1.htm
Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Uniprop Manufactured Housing Communities Income Fund II (the “Company”) on Form 10-Q for the period ending September 30, 2010 as filed with the Securities and Exchange Commission on the date hereof (the ”Report”), I Paul M Zlotoff, Principal Executive Officer of the Company, Joel Schwartz, Principal Financial Officer,  certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:

 
1.
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Act of 1934; and

 
2.
The information contained in the Report fairly presents, in all material respect, the financial condition and results of operations of the Company.

/s/ Paul M Zlotoff
 
Principal Executive Officer,
General Partner to Genesis Associates Limited Partnership
President & Director of GP Genesis Corp.
 
/s/ Joel Schwartz
 
Principal Financial Officer of Uniprop, Inc.
 
November 12, 2010

 
 

 
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