Exhibit (a)(2)
LETTER OF TRANSMITTAL
To participate in the Offer, a duly executed copy of this Letter of Transmittal
and any other documents required by this Letter of Transmittal must be received
by the Depositary on or prior to the Expiration Date. Delivery of this Letter of
Transmittal or any other required documents to an address other than as set
forth above does not constitute valid delivery. The method of delivery of all
documents is at the election and risk of the tendering Unit holder. Please use
the pre-addressed, postage-paid envelope provided. This Letter of Transmittal is
to be completed by holders of Units of limited partnership interest in
CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES 2 (the "Partnership"), pursuant to
the procedures set forth in the Offer to Purchase (as defined below).
Capitalized terms used herein and not defined herein have the same meanings as
in the Offer to Purchase.
11049 THE OFFER, WITHDRAWAL RIGHTS, AND PRORATION PERIOD
WILL EXPIRE AT 11:59 P.M., PACIFIC TIME, ON MAY 18,
2007 (THE "EXPIRATION DATE") UNLESS EXTENDED.
Name: ______________________________ Deliver to: MacKenzie Patterson Fuller, LP
1640 School Street
Address: ___________________________ Moraga, California 94556
For Assistance: (800) 854-8357
City, State, ZIP: __________________ Facsimile: (925) 631-9119
E-Mail Address: offers@mpfi.com
Units Owned: _______________________ (PLEASE INDICATE CHANGES OR CORRECTIONS TO THE
ADDRESS IN THE BOX TO THE LEFT)
PLEASE CAREFULLY READ THE ACCOMPANYING INSTRUCTIONS
To whom it may concern:
The undersigned hereby tenders to MPF-NY 2007, LLC; MPF Badger Acquisition Co.,
LLC; SCM Special Fund, LLC; MPF DeWaay Fund 3, LLC; MPF DeWaay Fund 5, LLC;
MacKenzie Patterson Special Fund 5, LLC (collectively the "Purchasers") all of
the Units of limited partnership interest ("Units") in the Partnership held by
the undersigned as set forth above (or, if less than all such Units, the number
set forth below in the signature box), at a purchase price equal to $9.00 per
Unit, less the amount of any distributions made or declared with respect to the
Units between April 18, 2007 and the Expiration Date, and upon the other terms
and subject to the conditions set forth in the Offer to Purchase, dated April
18, 2007 (the "Offer to Purchase") and in this Letter of Transmittal, as each
may be supplemented or amended from time to time (which together constitute the
"Offer"). Receipt of the Offer to Purchase is hereby acknowledged. The
undersigned recognizes that, if more than 181,811 Units are validly tendered
prior to or on the Expiration Date and not properly withdrawn, the Purchasers
will, upon the terms of the Offer, accept for payment from among those Units
tendered prior to or on the Expiration Date 181,811 Units on a pro rata basis,
with adjustments to avoid purchases of certain fractional Units, based upon the
number of Units validly tendered prior to the Expiration Date and not
withdrawn.Subject to and effective upon acceptance for payment of any of the
Units tendered hereby, the undersigned sells, assigns, and transfers to,
Purchasers all right, title, and interest in and to such Units which are
purchased pursuant to the Offer. The undersigned hereby irrevocably constitutes
and appoints the Purchasers as the true and lawful agent and attorney-in-fact
and proxy of the undersigned with respect to such Units, with full power of
substitution (such power of attorney and proxy being deemed to be an irrevocable
power and proxy coupled with an interest), to deliver such Units and transfer
ownership of such Units, on the books of the Partnership, together with all
accompanying evidences of transfer and authenticity, to the Purchasers and, upon
acceptance of the tender of such Units by the Purchasers, to exercise all voting
rights and to receive all benefits and otherwise exercise all rights of
beneficial ownership of such Units all in accordance with the terms of the
Offer. Upon the purchase of any Units tendered hereby, the undersigned hereby
requests that each of the Purchasers be admitted to the Partnership as a
"substitute Limited Partner" under the terms of the Partnership Agreement of the
Partnership. Upon the purchase of Units pursuant to the Offer, all prior proxies
and consents given by the undersigned with respect to such Units will be revoked
and no subsequent proxies or consents may be given (and if given will not be
deemed effective). In addition, by executing this Letter of Transmittal, the
undersigned assigns to the Purchasers all of the undersigned's rights to receive
distributions from the Partnership with respect to Units which are purchased
pursuant to the Offer, other than distributions declared or paid through the
Expiration Date and to change the address of record for such distributions on
the books of the Partnership. Upon request, the Seller will execute and deliver,
and irrevocably directs any custodian to execute and deliver, any additional
documents deemed by the Purchaser to be necessary or desirable to complete the
assignment, transfer, and purchase of such Units.
The undersigned hereby represents and warrants that the undersigned owns the
Units tendered hereby and has full power and authority to validly tender, sell,
assign, and transfer the Units tendered hereby, and that when any such Units are
purchased by the Purchasers, the Purchasers will acquire good, marketable, and
unencumbered title thereto, free and clear of all liens, restrictions, charges,
encumbrances, conditional sales agreements, or other obligations relating to the
sale or transfer thereof, and such Units will not be subject to any adverse
claim. Upon request, the undersigned will execute and deliver any additional
documents deemed by the Purchasers to be necessary or desirable to complete the
assignment, transfer, and purchase of Units tendered hereby. The undersigned
understands that a tender of Units to the Purchasers will constitute a binding
agreement between the undersigned and the Purchasers upon the terms and subject
to the conditions of the Offer. The undersigned recognizes the right of the
Purchasers to effect a change of distribution address to MacKenzie Patterson
Fuller, LP at 1640 School Street, Moraga, California, 94556. The undersigned
recognizes that under certain circumstances set forth in the Offer to Purchase,
the Purchasers may not be required to accept for payment any of the Units
tendered hereby. In such event, the undersigned understands that any Letter of
Transmittal for Units not accepted for payment will be destroyed by the
Purchasers. All authority herein conferred or agreed to be conferred shall
survive the death or incapacity of the undersigned and any obligations of the
undersigned shall be binding upon the heirs, personal representatives,
successors and assigns of the undersigned. Except as stated in the Offer to
Purchase, this tender is irrevocable.
Arbitration Agreement: The Purchaser and the undersigned agree that any dispute,
claim, or controversy arising out of a purchase of Units shall be resolved by
submission to binding arbitration in Oakland, California before a retired judge,
and all parties agree to be subject to jurisdiction in California. If the
parties are unable to agree on an arbitrator, the parties shall select an
arbitrator pursuant to the rules of JAMS. The arbitrator selected must follow
applicable Federal securities laws and California law and the rules of JAMS
consistent herewith. The arbitrator must render a decision in writing,
explaining the legal and factual basis for decision as to each of the principal
controverted issues. The arbitrator's decision will be final and binding upon
the parties. A judgment upon any award may be entered in a court of competent
jurisdiction. Each party shall be responsible for advancing one-half of the
costs of arbitration; provided that the prevailing party shall be entitled to
recover expenses including but not limited to attorney fees, arbitrator fees,
and filing fees. Neither party is waiving any rights under the federal
securities laws, rules, or regulations. All matters relating to this arbitration
shall be governed by the Federal Arbitration Act (9 U.S.C. Sections 1 et seq.).
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BOX A -- Medallion Signature Guarantee--PLEASE DO X_________________________________________________________
NOT USE FOR ANY OTHER PURPOSE (Required for all (Signature of Owner) Date
Sellers; See Instruction 1)
X_________________________________________________________
(Signature of Owner) Date
Taxpayer I.D. or Social # _______________________________
Telephone No. (day) ___________________________________
(eve.) ___________________________________
______ Units |_| SELL ALL OR NONE (check this box if you
wish to sell your Units ONLY if ALL your
Units will be purchased).
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Please sign exactly as your name is printed (or corrected) above, and insert
your Taxpayer Identification Number or Social Security Number in the space
provided. For joint owners, each joint owner must sign. (See Instruction 1). The
signatory hereto hereby certifies under penalties of perjury the statements in
Box B, Box C and, if applicable, Box D. If the Owner is tendering less than all
Units held, the number of Units tendered is set forth above. Otherwise, all
Units held by the undersigned are tendered hereby.
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BOX B
SUBSTITUTE FORM W-9
(See Instruction 3 - Box B)
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The person signing this Letter of Transmittal hereby certifies the following to
the Purchasers under penalties of perjury:
(i) The TIN set forth in the signature box on the front of this
Letter of Transmittal is the correct TIN of the Unit holder, or if this box |_|
is checked, the Unit holder has applied for a TIN. If the Unit holder has
applied for a TIN, a TIN has not been issued to the Unit holder, and either: (a)
the Unit holder has mailed or delivered an application to receive a TIN to the
appropriate IRS Center or Social Security Administration Office, or (b) the Unit
holder intends to mail or deliver an application in the near future (it being
understood that if the Unit holder does not provide a TIN to the Purchasers
within sixty (60) days, 31% of all reportable payments made to the Unit holder
thereafter will be withheld until a TIN is provided to the Purchasers); and
(ii) Unless this box |_| is checked, the Unit holder is not subject
to backup withholding either because the Unit holder: (a) is exempt from backup
withholding, (b) has not been notified by the IRS that the Unit holder is
subject to backup withholding as result of a failure to report all interest or
dividends, or (c) has been notified by the IRS that such Unit holder is no
longer subject to backup withholding.
Note: Place an "X" in the box in (ii) if you are unable to certify that the Unit
holder is not subject to backup withholding.
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BOX C
FIRPTA AFFIDAVIT
(See Instruction 3 - Box C)
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Under Section 1445(e)(5) of the Internal Revenue Code and Treas. Reg.
1.1445-11T(d), a transferee must withhold tax equal to 10% of the amount
realized with respect to certain transfers of an interest in a partnership if
50% or more of the value of its gross assets consists of U.S. real property
interests and 90% or more of the value of its gross assets consists of U.S. real
property interests plus cash equivalents, and the holder of the partnership
interest is a foreign person. To inform the Purchasers that no withholding is
required with respect to the Unit holder's interest in the Partnership, the
person signing this Letter of Transmittal hereby certifies the following under
penalties of perjury:
(i) Unless this box [ ] is checked, the Unit holder, if an individual, is
a U.S. citizen or a resident alien for purposes of U.S. income taxation, and if
other than an individual, is not a foreign corporation, foreign partnership,
foreign estate, or foreign trust (as those terms are defined in the Internal
Revenue Code and Income Tax Regulations); (ii) the Unit holder's U.S. social
security number (for individuals) or employer identification number (for
non-individuals) is correctly printed in the signature box on the front of this
Letter of Transmittal; and (iii) the Unit holder's home address (for
individuals), or office address (for non-individuals), is correctly printed (or
corrected) on the front of this Letter of Transmittal. If a corporation, the
jurisdiction of incorporation is __________.
The person signing this Letter of Transmittal understands that this
certification may be disclosed to the IRS by the Purchasers and that any false
statements contained herein could be punished by fine, imprisonment, or both.
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BOX D
SUBSTITUTE FORM W-8
(See Instruction 4 - Box D)
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By checking this box |_|, the person signing this Letter of Transmittal hereby
certifies under penalties of perjury that the Unit holder is an "exempt foreign
person" for purposes of the backup withholding rules under the U.S. federal
income tax laws, because the Unit holder:
(i) Is a nonresident alien individual or a foreign corporation,
partnership, estate, or trust;
(ii) If an individual, has not been and plans not to be present in the
U.S. for a total of 183 days or more during the calendar year; and
(iii) Neither engages, nor plans to engage, in a U.S. trade or business
that has effectively connected gains from transactions with a broker
or barter exchange.
INSTRUCTIONS
Forming Part of the Terms and Conditions of the Offer
1. Tender, Signature Requirements; Delivery. After carefully reading and
completing this Letter of Transmittal, in order to tender Units a Unit
holder must sign at the "X" on the bottom of the first page of this Letter
of Transmittal and insert the Unit holder's correct Taxpayer
Identification Number or Social Security Number ("TIN") in the space
provided below the signature. The signature must correspond exactly with
the name printed (or corrected) on the front of this Letter of Transmittal
without any change whatsoever. If this Letter of Transmittal is signed by
the registered Unit holder of the Units, a Medallion signature guarantee
on this Letter of Transmittal is required. Similarly, if Units are
tendered for the account of a member firm of a registered national
security exchange, a member firm of the National Association of Securities
Dealers, Inc. or a commercial bank, savings bank, credit union, savings
and loan association, or trust company having an office, branch or agency
in the United States (each an "Eligible Institution"), a Medallion
signature guarantee is required. In all other cases, signatures on this
Letter of Transmittal must be Medallion guaranteed by an eligible
institution, by completing the signature guarantee set forth in BOX A of
this Letter of Transmittal. If any tendered Units are registered in the
names of two or more joint holders, all such holders must sign this Letter
of Transmittal. If this Letter of Transmittal is signed by trustees,
administrators, guardians, attorneys-in-fact, officers of corporations, or
others acting in a fiduciary or representative capacity, such persons
should so indicate when signing and must submit proper evidence
satisfactory to the Purchasers of their authority to so act. For Units to
be validly tendered, a properly completed and duly executed Letter of
Transmittal, together with any required signature guarantees in BOX A, and
any other documents required by this Letter of Transmittal, must be
received by the Depositary prior to or on the Expiration Date at its
address or facsimile number set forth on the front of this Letter of
Transmittal. No alternative, conditional or contingent tenders will be
accepted. All tendering Unit holders by execution of this Letter of
Transmittal waive any right to receive any notice of the acceptance of
their tender.
2. Transfer Taxes. The Purchasers will pay or cause to be paid all
transfer taxes, if any, payable in respect of Units accepted for payment
pursuant to the Offer.
3. U.S. Persons. A Unit holder who or which is a United States citizen or
resident alien individual, a domestic corporation, a domestic partnership,
a domestic trust, or a domestic estate (collectively "United States
persons") as those terms are defined in the Internal Revenue Code and
Income Tax Regulations, should complete the following:
Box B - Substitute Form W-9. In order to avoid 31% federal income
tax backup withholding, the Unit holder must provide to the
Purchasers the Unit holder's correct Taxpayer Identification Number
or Social Security Number ("TIN") in the space provided below the
signature line and certify, under penalties of perjury, that such
Unit holder is not subject to such backup withholding. The TIN that
must be provided is that of the registered Unit holder indicated on
the front of this Letter of Transmittal. If a correct TIN is not
provided, penalties may be imposed by the Internal Revenue Service
("IRS"), in addition to the Unit holder being subject to backup
withholding. Certain Unit holders (including, among others, all
corporations) are not subject to backup withholding. Backup
withholding is not an additional tax. If withholding results in an
overpayment of taxes, a refund may be obtained from the IRS.
Box C - FIRPTA Affidavit. To avoid potential withholding of tax
pursuant to Section 1445 of the Internal Revenue Code, each Unit
holder who or which is a United States Person (as defined
Instruction 3 above) must certify, under penalties of perjury, the
Unit holder's TIN and address, and that the Unit holder is not a
foreign person. Tax withheld under Section 1445 of the Internal
Revenue Code is not an additional tax. If withholding results in an
overpayment of tax, a refund may be obtained from the IRS.
4. Foreign Persons. In order for a Unit holder who is a foreign person
(i.e., not a United States Person as defined in 3 above) to qualify as
exempt from 31% backup withholding, such foreign Unit holder must certify,
under penalties of perjury, the statement in BOX D of this Letter of
Transmittal attesting to that foreign person's status by checking the box
preceding such statement. However, such person will be subject to
withholding of tax under Section 1445 of the Code.
5. Additional Copies of Offer to Purchase and Letter of Transmittal.
Requests for assistance or additional copies of the Offer to Purchase and
this Letter of Transmittal may be obtained from the Purchasers by calling
800-854-8357.