U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
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SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-18504
0-18512
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CUSIP NUMBER
702118100
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(Check One): [X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1998
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ______________________________________
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If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification
relates:________________________________________________________________________
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PART I -- REGISTRANT INFORMATION
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PARTICIPATING INCOME PROPERTIES II, L.P.
AND
FFCA INVESTOR SERVICES CORPORATION 88-C
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(Full Name of Co-Registrants)
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(Former Name if Applicable)
The Perimeter Center
17207 North Perimeter Drive
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(Address of Principal Executive Office (Street and Number))
Scottsdale, Arizona 85255
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(City, State and Zip Code)
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PART II -- RULES 12B-25(B) AND (C)
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If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will
be filed on or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report or transition
report on Form 10-Q, or portion thereof will be filed on or before the
fifth calendar day following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III -- NARRATIVE
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State below in reasonable detail the reasons why Forms 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed period.
On March 22, 1999, the Registrant and two affiliated entities completed a
series of transactions involving the sale of substantially all of their
respective properties. Because of the timing and the effort needed to complete
the transactions, and the General Partner's belief that information regarding
the completed transactions should be included in the Registrant's Annual Report
on Form 10-K, the Registrant is unable to file its Annual Report on Form 10-K
for the year ended December 31, 1998 within the prescribed period of time.
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PART IV -- OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification.
John Barravecchia (602) 585-4500
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(Name) (Area Code) (Telephone Number)
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(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[ ] Yes [X] No
If so: attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
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Participating Income Properties II, L.P.
and
FFCA Investor Services Corporation 88-C
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(Name of Co-Registrants as Specified in their Organizational Documents)
have caused this notification to be signed on their behalf by the undersigned
hereunto duly authorized.
PARTICIPATING INCOME PROPERTIES II, L.P.
By: FRANCHISE FINANCE CORPORATION OF AMERICA II,
Managing General Partner
Date March 31, 1999 By: /s/ John Barravecchia
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John Barravecchia, Executive Vice
President, Chief Financial Officer,
Treasurer and Assistant Secretary
FFCA INVESTOR SERVICES CORPORATION 88-C
Date March 31, 1999 By: /s/ John Barravecchia
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John Barravecchia,
President, Secretary and Treasurer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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