EX-99 4 mpfuniprop2totexa3.txt EXHIBIT (A)(3) LETTER TO UNIT HOLDERS Exhibit (a)(3) June 25, 2007 TO: UNIT HOLDERS OF UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II, L.P. SUBJECT: OFFER TO PURCHASE UNITS Dear Unit Holder: As described in the enclosed Offer to Purchase and related Letters of Transmittal (the "Offer") the Purchasers named in the attached Offer (collectively the "Purchasers") are offering to purchase up to 580,705 Units of limited partnership interest (the "Units") in UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II, L.P. (the "Partnership") at a purchase price equal to: $8.00 per Unit -------------- The Offer will provide you with an opportunity to liquidate all, or a portion of, your investment in UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II, L.P. without the usual transaction costs associated with market sales or partnership transfer fees. Reasons you may wish to sell your Units include: o OUR HIGHEST OFFER PRICE YET. This Offer of $8 a unit is 33% higher than our previous offer in December. o UNCERTAINTY OF PARTNERSHIP TERMINATION. Our offer provides you with the opportunity to receive a guaranteed amount of money in a specified time period. The Partnership term extends through December 31, 2026! The Partnership stated that "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." (emphasis added). o ILLIQUIDITY OF UNITS. The relative illiquidity of the Units resulting from the absence of a formal trading market makes the Units difficult to sell. o NO FUTURE IRS FILING REQUIREMENTS. The tax year in which you sell your Units will be the final year for which you will be obligated to file a K-1 for the Partnership with your tax return. This may represent a reduction in costs associated with filing complicated tax returns. Your decision to sell may have other favorable or unfavorable tax consequences and potential sellers should consult their individual tax advisers. o ELIMINATION OF RETIREMENT ACCOUNT FEES. If you sell your Units, you may avoid incurring fees for having this investment in your IRA or retirement account. Because many custodians have transfer restrictions against limited partnership units or charge additional fees for holding this type of asset, many investors are faced with the task of searching for a way to avoid these fees. Once our cash payment is sent directly to your retirement account, you are free to consolidate your retirement accounts or transfer the funds to a custodian that offers lower fees. After carefully reading the enclosed Offer, if you elect to tender your Units, mail (using the enclosed pre-addressed, postage paid envelope) or fax (then mail) a duly completed and executed copy of the Letter of Transmittal (printed on purple paper) and change of address forms, and any other documents required by the Letter of Transmittal, to the Depositary for the Offer at: MacKenzie Patterson Fuller, LP 1640 School Street, Moraga, California 94556 Facsimile: (925) 631-9119 If you have any questions or need assistance, please call the Depositary at 800-854-8357. This Offer expires (unless extended) July 31, 2007.