SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                 --------------

                                   SCHEDULE TO
                                (Amendment No. 3)

            TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                         AMERICAN REPUBLIC REALTY FUND I
- --------------------------------------------------------------------------------
                       (Name of Subject Company [Issuer])

                      Everest Properties II, LLC (offeror)
- --------------------------------------------------------------------------------
                                (Filing Persons)

                      Units of Limited Partnership Interest
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                      None
- --------------------------------------------------------------------------------
                      (CUSIP Number of Class of Securities)

                              Christopher K. Davis
                           Everest Properties II, LLC
                        199 S. Los Robles Ave., Suite 200
                               Pasadena, CA 91101
                            Telephone (626) 585-5920
- --------------------------------------------------------------------------------
                  (Name, Address and Telephone Number of Person
  Authorized to Receive Notices and Communications on Behalf of Filing Persons)

                            CALCULATION OF FILING FEE
- --------------------------------------------------------------------------------
       Transaction Valuation: $300,000(1)    Amount of Filing Fee: $60(2)
- --------------------------------------------------------------------------------

(1)  Calculated as the product of the number of Units on which the Offer is made
     and the gross cash price per Unit.

(2)  Already paid.

[  ] Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
     and identify the filing with which the offsetting fee was previously  paid.
     Identify the previous filing by registration  statement number, or the Form
     or Schedule and the date of its filing.

     Amount previously paid: Not Applicable     Filing party: Not Applicable
     Form or registration no.:  Not Applicable  Date filed:  Not Applicable

[  ] Check box if the filing relates solely to preliminary communications made
     before the  commencement  of a tender offer.  Check the  appropriate  boxes
     below to designate any transactions to which the statement relates:

     [X] third-party tender offer subject to Rule 14d-1.
     [ ] issuer tender offer subject to Rule 13e-4.
     [ ] going-private transaction subject to Rule 13e-3.
     [ ] amendment to Schedule 13D under Rule 13d-2.

     Check the  following box if the filing is a final  amendment  reporting the
     results of the tender offer: [ ]





     This Amendment No. 3 amends and  supplements  the Tender Offer Statement on
Schedule TO (the "Schedule TO") filed by Everest Properties II, L.P.  ("Everest"
or the "Purchaser"),  a California limited partnership,  to purchase up to 1,500
units  ("Units") of limited  partnership  interests in AMERICAN  REPUBLIC REALTY
FUND I (the  "Partnership"),  as set forth in the Schedule TO. Capitalized terms
used but not defined  herein  have the meaning  ascribed to them in the Offer to
Purchase filed as Exhibit 12.1 to the Schedule TO (the "Offer to Purchase").

ITEM 4.    TERMS OF THE TRANSACTION.

     The Offer, withdrawal rights and proration period will expire at 5:00 p.m.,
Los Angeles time, on Tuesday, August 9, 2005, unless the Offer is extended.

ITEM 10.   FINANCIAL STATEMENTS.

     The  response  to Item 10 is  hereby  amended  and  supplemented  with  the
financial  statements filed as Exhibit 12.8 to the Schedule TO, which exhibit is
incorporated herein by reference.

ITEM 11.   ADDITIONAL INFORMATION.

     The  response  to Item 11 is  hereby  amended  and  supplemented  with  the
following changes to the Offer to Purchase:

     FEDERAL INCOME TAX MATTERS

        The first sentence of the section is hereby deleted.


ITEM 12.   EXHIBITS.

     12.8 Supplemental Financial Statements.

     12.9 Press Release dated and issued August 1, 2005.





                                    SIGNATURE


     After due inquiry  and to the best of my  knowledge  and belief,  I certify
that the information set forth in this statement is true, complete and correct.

Dated: August 2, 2005


                                        EVEREST PROPERTIES II, LLC


                                        By: /S/ DAVID I. LESSER
                                            ------------------------
                                            David I. Lesser
                                            Executive Vice President