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Home My WebLink About20122009.tiff 0 BOARD OF ASSESSMENT APPEALS, Docket Number: 60775 STATE OF COLORADO 1313 Sherman Street, Room 315 Denver,Colorado 80203 Petitioner: DACONO INDUSTRIAL PARK LLC, v. Respondent: WELD COUNTY BOARD OF EQUALIZATION. ORDER ON STIPULATION THE PARTIES TO THIS ACTION entered into a Stipulation, which has been approved by the Board of Assessment Appeals. A copy of the Stipulation is attached and incorporated as a part of this decision. FINDINGS OF FACT AND CONCLUSIONS: 1. Subject property is described as follows: County Schedule No.: R8772700 Category: Valuation Property Type: Commercial Real 2. Petitioner is protesting the 2012 actual value of the subject property. 3. The parties agreed that the 2012 actual value of the subject property should be reduced to: Total Value: $566,280 (Reference Attached Stipulation) 4. The Board concurs with the Stipulation. 1 C am WW1)/eaLCTIAL) z;? /.,2 - ��q /- 7- /3 1 ORDER: Respondent is ordered to reduce the 2012 actual value of the subject property,as set forth above. The Weld County Assessor is directed to change his/her records accordingly. DATED AND MAILED this 5th day of December 2012. BOARD OF ASSESSMENT APPEALS k.tf a o'r, We Diane M. DeVries I hereby certify that this is a true and correct copy of the deci .on of the /?� Board of Asse peals. 0 t eal ,w back/ Debra A. Baumbach Cara McKeller SEAL ' OA-. temp BOARD OF ASSESSMENT APPEALS STATE OF COLORADO Docket Number 60775 STATE OF COLORADO Single County Schedule Number R8772700 °J OF ASSESSMENT APPEALS STIPULATION (As To Abatement/Refund for Tax Yeaarr12D7290 PM 1:20 Dacono Industrial Park LLC, RECEIVED Petitioner(s), vs. NQV 1 s 2012 Weld COUNTY BOARD OF EQUALIZATION, WELD COUIvI Y A55r SSOR GREELEY, COLORADO Respondent. Petitioner(s) and Respondent hereby enter into this Stipulation regarding the tax year 2012 valuation of the subject property, and jointly move the Board of Assessment Appeals to enter its order based on this Stipulation. Petitioner(s) and Respondent agree and stipulate as follows: I. The property subject to this Stipulation is described as: 5445 Colorado Boulervard, Dacono,Colorado L2A GRAND DIVIDE BUSINESS PARK 2. The subject property is classified as commercial property(what type). 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2012: Land $609,840.00 Total $609,840.00 4. After a timely appeal to the Board of Equalization, the Board of Equalization valued the subject property as follows: Land $609,840.00 Total $609,840.00 R8772700 ] i 5 . After further review and negotiation, Petitioner (s) and County Board of Equalization agree to the following tax year 2012 actual value for the subject property: Land $566,280 .00 Total $566,280.00 6. The valuation, as established above, shall be binding only with respect to tax year 2012. 7. Brief narrative as to why the reduction was made: After further review of the subject properties actual income and the time adjusted market, an adjustment was deemed appropriate. 8 . Both parties agree that the hearing scheduled before the Board of Assessment Appeals on Dec. 20, 2012 (date) at 8 : 30 am (time) be vacated; or, a hearing has not yet been scheduled before the Board of Assessment Appeals (check if appropriate). TED thi 13th day of November, 2012 . �FriLft79 S�� Petitioner(s) or gent or omey s Stan ) ounty Attorney for Respondent, Weld County Board of Commissioners Gitea-42® h DLc - S t.i1- Address: Address : a 1150 "O" Street P . O . Box 758 LQ/AA . lec /�d / 777 Greeley, CO 80632 Telephone: 72a -962-575n Telephone: (970) 336-7235 ffal County Asse o Address: 1400 N . 17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Docket Number 60775 Stip- l . Frm R8772700 2 PETITION TO STATE BOARD OF ASSESSMENT APPEALS For Office Use Only 1313 Shf£1 treet, Room 315 Phone: (303) 866-5880 Wink t(J 80203 Fax: (303) 866-4485 Docket No. �.Ciil"ISSIO Kt a Fee: Y N Nil MIS lb A Il: 03 Check/Credit Card# CEIV ED Date: August 15, 2012 o G N Property Owner: �'baC000no Industrial Park LLC Subject Property: 5445 Colorado Blvd. Dacono Street Address City Schedule Number(s): R8772700 Attach separate sheet if necessary 0 Board of Equalization Appeals the decision of the Weld ❑Board of Commissioners Dated: 08/02/2012 County ❑State Property Tax Administrator This Appeal concerns: ifdValuation ❑Refund/Abatement O Exemption OState Assessed Tax Year: 2012 The subject property is currently classified as: O Agricultural 0Commercial JExempt O Industrial ®Mixed Use ❑Natural Resources ❑Oil &Gas ID Personal ❑Possessory O Producing OResidential ❑State Assessed O Vacant Land Interest Mines Actual Value assigned to subject property: $609,840 Petitioner's estimate of value: $435,600 Estimated time for Petitioner to present the appeal: 60 minutes or 1 hours. Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator. Appearance: ❑Petitioner will be present at the hearing °Petitioner will appear by telephone 0 Petitioner will be represented by an agent Petitioner is responsible for calling the Board at 303-866-5880 ❑Petitioner will be represented by an attorney on the scheduled date and time of hearing(Mountain Time Zone) D Petitioner would like to appear by video conference Petitioner must contact the Board at 303-866-5880 at least 20 days in advance of the scheduled hearing to confirm availability of video conference equipment If the property owner is an entity,it must appear under the representation of an attorney licensed in Colorado except as follows. A closely held entity may be represented by an officer of the entity as long as the amount in controversy does not exceed$10,000,exclusive of costs,interest or statutory penalties. A closely held entity can have no more than three owners. See Section 13-1-127,C.R.S. A closely held entity that will be represented by an officer of the entity must provide a letter to the Board with this petition stating that it has no more than three owners and that the tax amount at issue does not exceed$10,000.A trust filing a petition as of August 8,2012 may be represented by a trustee,an attorney or an agent. Filing Fee: 4 None Petitioner is appearing pro se (self-represented) and has not filed more than two Petitions with the Board of Assessment Appeals during this fiscal year(July 1 —June 30). ❑ $ 33.75 Petitioner is appearing pro se (self-represented) and has filed more than two Petitions with the Board of Assessment Appeals during this fiscal year(July 1 —June 30). P $101.25 Petitioner will be represented by an agent or by an attorney. In the space below, please explain why you disagree with the value assigned to the subject property Income and income support the requested value. Cx�r •�Yu &Dja-c000i ci-ao-1 a, ° et'. i i a AsougQ Required attachments to this form: 0 Assessor's or Property Tax Administrator's Notice of Valuation or Notice of Denial 0 Decision of County Board of Equalization, County Board of Commissioners or Property Tax Administrator Attachments required under certain circumstances: O A notarized Letter of Authorization if an agent will be representing Petitioner ❑ A list of names, last known addresses and telephone numbers of co-owners or parties directly interested in the subject property if applicable. Certificate of Service I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed, faxed or hand delivered to: Board of Equalization Weld ❑Board of Commissioners county ❑State Property Tax Administrator at the following address: 1150 'O' Street, P.O. Box 758, Greeley, CO 80632 on August 15, 2012 • Date I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed, faxed or hand delivered to all co-owners or parties directly interested in the subject property on August 15, 2012 • Date I hereby certify that four (4) true and correct copies of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed or hand delivered to the Board of Assessment Appeals at 1313 Sherman Street, Room 315, Denver, CO 80203 on August 15, 2012 Date (One copy may be faxed to the Board but the original and two additional copies must be mailed or hand delivered.) Petitioner's Mailing Address is Required Even if Petitioner is Represented by An Agent or Attorney (per C.R.S. 39-8-109 React See. Aktached AukhOvi?naki0v Signa ure of Agent ® or Att ey O Signature of Petitioner Dan George, 1stNet Real Estate Srvcs., Inc. Edward C. Eucker Printed Name Printed Name 3333 S. Wadsworth Blvd., Suite 200 12365 Dumont Way Mailing Address Mailing Address Lakewood, CO 80227 Littleton, CO 80125 City, State, Zip Code City, State, Zip Code Telephone: (720) 962-5750 Telephone: Daytime number E-Mail: dgeorge@1stnet.biz E-Mail: Attorney Reg. No.: It is the Petitioner's responsibility to notify the BAA of any change of address. Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to completing this Petition Form. The Instructions and Rules are available on the Web at www.dola.Colorado.gov/baa or may be requested by phone at 303-866-5880. 1861 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 TE FAX .co. 352-0242 WEBSITE: www.co.weld.co.us � 1150 O STREET v P.O. BOX 758 Go N T T GREELEY CO 80632 August 2, 2012 DACONO INDUSTRIAL PARK LLC 12365 DUMONT WAY LITTLETON, CO 80125 RE: THE BOARD OF EQUALIZATION 2012, WELD COUNTY, COLORADO DENIAL OF PETITIONER'S APPEAL AND AFFIRMATION OF ASSESSOR'S VALUE ACCOUNT NO.: R8772700 Dear Petitioner: On August 01, 2012, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. Section 39-8-101 et seq., considered your petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2012. The Board of Equalization found that the evidence presented at the hearing supported the value placed upon the above-described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. This decision is based upon the Board's analysis of the written and oral testimony presented by both parties. Further that it is the Board's decision that the taxpayer/did not present sufficient evidence to show that the value of the property was not reasonably valued by the Assessor. The Assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY ASSESSOR SET BY BOARD $609,840.00 $609,840.00 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2011, MUST comply with the following provisions of C.R.S. Section 39-8-107(5): (5)(a)(I) On and after August 10, 2011, in addition to any other requirements under law, any petitioner appealing either a valuation of rent-producing commercial real property to the board of assessment appeals pursuant to section 39-8-108(1) or a denial of an abatement of taxes pursuant to section 39-10- 114 shall provide to the county board of equalization or to the board of county commissioners of the county in the case of an abatement, and not to the board of assessment appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the board of assessment appeals (b)(I)The assessor, the county board of equalization, or the board of county commissioners of the county, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the board of assessment appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the county may move the board of assessment appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the county attorney and shall be accompanied by a certification that the county assessor or the county board of equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the board of assessment appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the board of assessment appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: 303-866-5880 Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of$101.25 per appeal. OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the /county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(1), the rules of Colorado appellate review and C.R.S. Section 24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. Section 39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located (i.e., Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please contact me at (970) 336-7215, Ext. 4226. Very truly yours, �f SLY. .a.i e Esther E. Gesick, Deputy Clerk Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor 1ST NET REAL ESTATE SERVICES INC 3333 S WADSWORTH BLVD SUITE 200 LAKEWOOD, CO 80227 lx ,Ailiiii�r ia"" "I3r let 1teaFBi state-Serwacesjnc•„3333 S.Wadsww-nh Blvd.- to 200_ !dirt 41:. Lf"keivo .ltdd, 80297,Phon .724446ZS750-E4kk .:F2QX'6 - 16fl • , • • LE 1'1'Ek OE ATJTH'O'RTT? To'Whoni.12 May'-Concern:. 1, .Edward Char.les.-Bucker. am the owner;..and/or agent of the owner, of the.;Ioolowing*real.and/or business--personal.. property: ADDRESS PARCEL/SCREDUI E NUMBER. _ .COUNTY See Exhibit A,Att4eh.ed_hereto aryd'r'incorporated herein by this reference 1 4 do hereby But cirize 1st l'et lfeai Estate Services,Jne.,to tepresent my interests and to a(peat on ni behalf befgte Coiility Assessor-,_ County'$oafd of'Equalizationr Board of'County Cm omrsstoncts, th0.CoterAdoadartt of Asse�itment Appears, binding%arbitration;. bisthei 66144 a11;Colorado;scale courts,and/or any Atli t' agency'_5r:Oa'with $Cgard tq gtry:$nd alt matter(*)-concerning.the. vaipatton aad'taxa On of;t}de al ve ttientigned property(§}for tax=years'2011,2012 malt ellprevious,ybars MaltoWed by'. Color'adoTa}.. J]rr pndersigntd.requests tfiat.copies omit decisions-iroinany At ihe.above entities or any attter agency pr entity;as is inVblveei pertaintrg to matterrofveluation and/or taxaiion forthe;above-mentioned prgpe'rty s) beinaiI dto, 1st.NetReaL teSoetig-es, i e. 33-S '1t,1dSWSStkB1AL:Stutt2PQ I 1,skewupa,Ci.Y 80217 I T'Isa14 0.).2s47sb I flit,' 7$4)$4?57.6b 1 heby e5{pr'esst er y revoke any tri,41i,vr ious audiorizafionsrelati tg to,thekropeity(s):Thin aptborizat7oasha I remain n.effect until this:auticotuati[ig.,is ternintattxl`m,a.Wrrtteninstrument;executed bythe undersigned: .Dated',this I day:of MCJxy 201 . I 'Owner, bACp`17 1NDUSTlu 'LPAPS /EDWARD CHARGES EUCKER: E Signature )t5. . 5 • . PrintName, V'a± Gt i` : l Title: Dwtier/Mahager". 1 Address: 4 ..:1236$DumontWaV.. City,State,Zip, LittletnnCCO Hi 25; Neale: 303-'7911830a Fax#:365i 11 I- 10(0,1 to, 'STATE ciE COLORADO ) SS COt1NTYOFZCitti1r'�, qS a t r '�� S' mtoand ubseli..,yefor&rie.thrk. day of. . 0.y 201 Q . by e ��:!.."' T�' `0 Wlfiel4ilieriii0110,aY*eati t')a� 1 , i LI: :e��r, � % !8 J4fy'.e6t ini4.on a oos a Q, p , LSoplrcItl .l sc. Addresseir`f) S trvvr)QN6, . fi 1a P' g� +p i _, s, "E)4hirr 10' Address. . li irle>or:Rarce ti •County. L u it nt vway . b3 $6 ' . tr firs ounty 4, i e R1�24 br Y1as( ' -l `Iar " r fit. 2S aes3'1�0 -1. Jet oua 15..: 4 ltirado:$Lvrf ,t&& 10h • • • • • X861 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 1 Ti FAX .co. 352-0242 .co.us WEBSITE: www.co.weld.co.us \\ 1150 O STREET P.P.O. BOX 758 COUNTY GREELEY CO 80632 August 2, 2012 DACONO INDUSTRIAL PARK LLC 12365 DUMONT WAY LITTLETON, CO 80125 RE: THE BOARD OF EQUALIZATION 2012, WELD COUNTY, COLORADO DENIAL OF PETITIONER'S APPEAL AND AFFIRMATION OF ASSESSOR'S VALUE ACCOUNT NO.: R8772700 Dear Petitioner: On August 01, 2012, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. Section 39-8-101 et seq., considered your petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2012. The Board of Equalization found that the evidence presented at the hearing supported the value placed upon the above-described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. This decision is based upon the Board's analysis of the written and oral testimony presented by both parties. Further that it is the Board's decision that the taxpayer/did not present sufficient evidence to show that the value of the property was not reasonably valued by the Assessor. The Assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY ASSESSOR SET BY BOARD $609,840.00 $609,840.00 0?o/a-dcaoei A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2011, MUST comply with the following provisions of C.R.S. Section 39-8-107(5): (5)(a)(I) On and after August 10, 2011, in addition to any other requirements under law, any petitioner appealing either a valuation of rent-producing commercial real property to the board of assessment appeals pursuant to section 39-8-108(1) or a denial of an abatement of taxes pursuant to section 39-10- 114 shall provide to the county board of equalization or to the board of county commissioners of the county in the case of an abatement, and not to the board of assessment appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the board of assessment appeals (b)(I)The assessor, the county board of equalization, or the board of county commissioners of the county, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the board of assessment appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the county may move the board of assessment appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the county attorney and shall be accompanied by a certification that the county assessor or the county board of equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the board of assessment appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the board of assessment appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: 303-866-5880 Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of$101.25 per appeal. OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the /county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(1), the rules of Colorado appellate review and C.R.S. Section 24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. Section 39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located (i.e., Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please contact me at (970) 336-7215, Ext 4226. Ve truly yours, Esther E. Gesick, Deputy Clerk Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor 1ST NET REAL ESTATE SERVICES INC 3333 S WADSWORTH BLVD SUITE 200 LAKEWOOD, CO 80227 Weld County CHRISTOPHER M.WOODRUFF COUNTY ASSESSOR BRENDA DONES,DEPUTY ASSESSOR VALUATION REPORT OF VACANT LAND FOR Weld County Board of Equalization DACONO INDUSTRIAL PARK LLC PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 1467-01-0-02-002 Schedule Number: R8772700 Log Number: 5854 Date: 8/1/2012 Time: 02:15 PM Board: Board #1 PREPARED BY WADE MELIES/CHARLES JACK WELD COUNTY ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE $609,840 2012-2009 c9oeyaaaoa_Paage 18 GENERAL DESCRIPTION OF SUBJECT Location: The subject is located just southwest of the Town of Dacono or approximately two miles East of Interstate 25 on County Road 52 and then approximately 3 of a mile South on Colorado Boulevard. It is described as Lot 2A of the Grand Divide Business Park and has a physical address of 5445 Colorado Blvd, Dacono. The subject property has approximately 179 feet of frontage on Colorado Boulevard. Size: The subject site is 435,600 square feet (or 10 acres) of generally level topography with no problems with drainage. 44. Mitt County, Colorado Weld County- Internet Mapping + over t4• 'S ri , ' GTt rggn ems ,,tb. • 'T. V . ' }_ re �t'�.i` I Nunn - % 4' -1 sl 1 ` -, i ( I (Sufi New 'timer q 11 11 I `ice -I -1 1 t V�.. . ''. _. . til N iglk9caf -4-`. I + •t l l}�� TH ?Ti= - , CLIZ.ACr_'Ti l L T • ' 1GraRlpy �� I i , -F '. ., , , _ 1 ., _. ., yw rtthIliALn irs ^ '. -Adcock EliZechbula- Y ,. Legend '< • . 1 r 1'„< Cwrdy Ru.uu'vY � _ 1Myh«wy r Roads ti; ...Do— I ; ParoelAales - Hrse, I _ I Mydra s Agit Sul lie1'I I / .` J " ' . -- .1 A. y.. p t+l to i at ,s{ '' wiSRb M. Er fr ze sal 4 . 1 .48S _ _ .. liar Mir 1%:. -"' t" . D Il C -� -• soon et try 3 . �) Scale: 1:7016 s z •. r-s . Z - .t:.-C.'2 11 : :-c 1-_.:' ___. ___ -E. -'2 - 1_.if 7 :r0 'I 1 r - 3" ,,.►A. G _ -.'� G17 '7 r- T ' �- ]} ' 1-] 1 _ .- J� I 'cortex �-Y A_. - -. ,-.-c-. 1.:.r fy- 'w '.) `_ _7 ^2l-. -.l% -0\,AT =l, `G.,.r1.IA1: id".",, CBOE_VacLand_010998 Page 2 Cost Approach The developmental cost method, or cost approach, is used primarily where sales are limited and the land is in transition from agricultural use to residential, or if the lots are not yet fully developed. This method was not used as this lot is fully developed. Income Approach The subject lease for 4 acres of its 10 acre parcel was analyzed for an indicated value per the income approach. No additional lease data was available for the capitalization of ground rents on vacant commercial/industrial lots Market (Sales) Approach Since there was an adequate quantity of qualified sales data available,the direct sales comparison approach was deemed the best method in determining the adjusted sales price. The Weld County Assessor's Office has verified that the comparable sales are arms-length transactions based on review of the Real Property Transfer Declaration,telephone or personal confirmation interviews and physical inspections to confirm property characteristics at the time of sale. Four vacant land sales were found in the area that are comparable based on location and physical attributes. CBOE_VacLand_010998 Page 3 Market (Sales) Approach Land Value Sales utilized to establish the value in the subject neighborhood are from 2009 and the first six months of the 2010 market for the 2012 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 2005 through June 2010 to establish the proper value, if sufficient information is not available in the prior 18 months. Also, comparables outside the subject property area may be used. The Weld County Assessor has an established ongoing sales confirmation and validation program for property transactions used in developing value. The land size of the subject is 435,600 square feet (10 Acres). Adj Comp Parcel Sale Date Sale Price Land Size Sale PSF Adj PSF Grantor/Grantee 1 131326401001 7/2/2009 $1,740,100 869,893 $2.00 - $1.60 Redmill/US Engin 2 146702307003 8/15/2008 $1,457,600 378,536 $3.85 - $3.08 Amberhill/Unitz 3 146701404001 9/27/2006 $776,200 393,782 $1.97 $1.97 Miller/SASA 4 131307201002 10/10/2007 $1,257,400 718,304 $1.75 -- $1.40 Strong/Sams Range: $1.40 - $3.08 Average: $2.01 Median: $1.78 IT HAS BEEN DETERMINED FROM MARKET SALES OF SIMILAR LAND THAT A VALUE OF$1.40 PER SQUARE FOOT OR$609,840 IS APPLICABLE FOR THE SUBJECT PROPERTIES LAND AREA. Subject Land Value $609,840 CBOE_VecLand_010998 Page 4 Comparable Land Sales Comparable#1 is a 869,893 sq ft parcel of land located % of a mile east of I-25 on Tripple Pkwy in the Town of Fredrick. This comp is approximately 2 '/4 miles from the subject. Its' proximity to I-25 is somewhat superior which would require a slight downward adjustment but, is similar to the subject in that it is located near the I-25 Corridor. The Adjusted sales price was determined to be $1.60 psf Comparable#2 is a 378,536 sq ft parcel of land which is also located 3/4 of a mile east of I-25 on Grandview Blvd (county road 12). This comp is approximately 1 3/4 miles southwest of the subject property. Its' proximity to I-25 is somewhat superior which would require a slight downward adjustment, but is similar to the subject in that it is located near the I-25 Corridor. The adjusted sales price was determined to be$3.08 psf. Comparable#3 is the 393,782 sq ft parcel of land that abutts directly to the south of the subject property. It is considered to be similar to the subject and requires no adjustments. The sales price was $1.97 psf. Comparable #4 is a 718,304 sq ft parcel of land located on Hwy 119 approximately 3 %z miles from Interstate 25. It has a somewhat superior location being located on Hwy 119, but its access to I-25 is less suitable. A slight downward adjustment was considered for this comp due to its location, indicating an adjusted sales price of$1.40 psf. CBOE_VacLantl_010998 Page 5 a III "`ligI Pre-#4 - y .• a : . 411 . •4 l i r � I •lt 99V f' • z ,iv I ... garre, . , ii., » , is r . .^ •qI}I I Zilr A —J .. r t s. f ' I• fr• , , .". lift 41,' - Il 1, r , � , ra '+ %..nr, �`�12 �� w "", P 3 M ! t . i • ,. . • 1 . ,,,,,r- , _ , $ , _ ,. , ,,,,,,. filP i 1 .„, Vir . r.„. A , wili i„. • ea il, rt. * II_ It Or .-*II i ilk Es a -.0ihr'4 . 1 . . 4 • .- A . ir , . i ..... ,,, . . , t . ie. . L , Frio d 6fric y t II 14 lie . 'Mt V ' III Altie • I, 4 -I i i . Ait , . . 41, : •. , i i , . id %• I ,s, t 4 ---...swEj is••••• •••.•es _______, _. ir .0 . _ 'f.,, al s r Lb cot ; - 'AM tr ,- 4.4 se-1 , , #L ' ' V 1 • 2U1 2 1 voogic c 411°1101444104, 3-Ai. y-.. Google earth mk k 6 Page 7 Income Approach The subject property currently has a lease with G.E. Enterprises, a landscape company. This lease commenced on 10/01/2009 for 4 acres of the subjects 10 acre parcel. The lease rent is $4,066 per month for an annual lease of$48,792 or 28 cents per square foot. This lease also includes the use of a 1,250 sq ft modular office. If the subject lease is adjusted for the modular office at $8.00 psf or an annual lease of$10,000 this would indicate a land lease rate of 22 cents psf for the land only ($48,792 - $10,000= $38,792 / 174,240 sq ft or 4 acres=22 cents psf). This 22 cents then could be applied to the subjects entire 10 acres, or 435,600 square feet, for an indicated value per the income approach of$810,700. CBOE_VacLand_010998 Page 8 MARKET INCOME WORKSHEET Parcel : 146701002002 Name : Dacono Industrial Park LLC Address : 5445 Colorado Blvd , Dacono Land Sq Ft 435 ,600 EstimatedSubject Rents Annual Rent per Annual Gross Area Rent PSF Month Income Land 435,600ea $7,986 $95 ,832 LessVacancy & Expenses Vacancy 10% $9 ,583 $86,249 s mgmt 3% $2 ,587 Maintenance 3% $2 ,587 Net Income $0. 19 $81 ,074 Net Income/Overall Cap Rate = Property Value Property Value Cap Rate + Eff Tax Rate 0 .070 0 .0330 0 . 10000 $810,739 Estimated Property Value $810,700 Value psf $ 1 .86 CBOE_VacLand_010998 Page 9 Conclusion and Final Reconciliation For this report, based Market (Sales) Approach, the indicated value for the subject property for the appraisal year 2012 was determined to be $609,840. Cost Approach Income Approach Market (Sales) Approach N/A $810,700 $609,840 Final Value $609,840 CBOE_VacLantl 010998 Page 10 APPRAISAL STANDARDS AND ETHICS CERTIFICATION I certify to the best of my knowledge and belief that: The statements of fact contained in this report are true and correct. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and is my personal unbiased professional analyses, opinions and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. My compensation is not contingent on an action or event resulting from the opinion or conclusions in, or the use of, this report. My analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. No one provided significant professional assistance to the person signing this report. I have made a personal inspection of the property that is the subject of this report. Vet%) Yater-'a Wade I.Melies Colorado Certified General Appraiser CG40036400 CBOE_VacLantl 010998 Page 11 ADDENDUM STAIR OF COLORADO Department of Regulatory Agencies Melon of Rest Estate PREYED ON SECURE P! Cart Gen Appraiser 40036400 Jan 1 2912 Oat 11 2014 Paarber lima Dam Eapiras I w V.lie °FEE aEELEY.O350O1 CO ---jjj Program Aamnwanr Ed,um Unity* ill+ CBOE_VacLand_010998 Page 12 CLERK TO THE BOARD 1861 a PHONE (970) 336-7215, EXT 4226 litTrE FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 1/1- COUNTY GREELEY CO 80632 July 20, 2012 DACONO INDUSTRIAL PARK LLC 12365 DUMONT WAY LITTLETON, CO 80125 Account No.: R8772700 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 01, 2012, at or about the hour of 2:15 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2012, and mailed to you on or before August 12, 2012. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. AS0082 DACONO INDUSTRIAL PARK LLC-R8772700 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information,please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Esther E.Gesick Deputy Clerk to the Board cc: Christopher Woodruff,Assessor 1ST NET REAL ESTATE SERVICES INC 3333 S WADSWORTH BLVD SUITE 200 LAKEWOOD,CO 80227 AS0082 NOTICE OF DETERMINATION WELD C0UPRyNIED Christopher M. Woodruff ( 0M M?SSl0NERS Date of Notice: 6/27/2012 Weld County Assessor Telephone: (970) 353-3845 or(720) 652-4255 1400 N 17th Ave 2012 JUL 12 P 12: 09Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@weldgov.com www.weldgov.com R F C E I v E D Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R8772700 2012 2954 DAC GDBP L2A GRAND DIVIDE BUSINESS PARK zW DACONO INDUSTRIAL PARK LLC 5445 COLORADO BLVD, DACONO 12365 DUMONT WAY G LITTLETON,CO 80125 6 O C a. ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 609,840 609,840 TOTAL 5609,840 5609,840 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CM05- The law requires that all of 2009 and the first 6 months of 2010 data be used to establish current values.We have considered all(3) three approaches to value in arriving at your current valuation. We have denied your appeal based upon this data. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The deadline for filing personal property appeals is July 20. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. 1ST NET REAL ESTATE SERVICES INC 3333 S WADSWORTH BLVD SUITE 200 15-DPT-AR LAKEWOOD, CO 80227 7R 007-0 R8772700 15393 1 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 3 at 1150 O Street,P.O.Box 758,Greeley,CO To appeal the Assessor's decision,complete the Petition to the County Board of Equalization shown below,and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street,P.O.Box 758 Greeley,CO 80631 Telephone(970)356-4000 Ext,4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property and on or before July 20 for personal property—after such date,your right to appeal is lost. You may be required to prove that you filed a timely appeal;therefore,we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5,§39-8-107(2),C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal,you must file an appeal with the Board of Assessment Appeals by September 12,§39-2-125(1)(e),C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal,you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street,Room 315 9th Avenue and 9th Street Denver,CO 80203 P.O.Box C (303)866-5880 Greeley,Colorado 80632 www.dola.colorado.gov/baa (970)356-4000 Ext.4520 Binding Arbitration For a list of arbitrators,contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report,schedule,claim,tax return,statement,remittance,or other document falls upon a Saturday,Sunday,or legal holiday,it shall be deemed to have been timely filed if filed on the next business day,§39-1-120(3),C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30,2010? (Your opinion of value in terms of a specific dollar amount is required for real property pursuant to§39-8-106(1.5),C.R.S.) $ .76/".)() n< What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, oral installed cost,appraisal, c.) ATTESTATION I,the undersigned owner or agent'of the property identified above,affirm that the statements contained her i nd on any a chments hereto are true and complete. 7,24 7G,�-c7s 7^9-a& /a Signature Telephone Number Date Clop 4d2s14 A)rietitz�,G.'7_ Emil Address Attach letter of authorization signed by property owner. Dacono Industrial Park LLC Profit& Loss January through December 2009&2010 Jan-Dec 09 Jan-Dec 10 Ordinary Income/Expense Income Rental Income 53,264.96 49,286.00 Total Income 53,264.96 49,286.00 Expense Bank Loan fees 1,700.00 Bank Service Charge 98.58 122.08 Insurance Expense General Liability Insurnace 500.00 500.00 Interest Expense 34,884.76 24,060.78 Professional Fees 150.00 804.88 Repairs and Maintenance 2,000.00 595.00 Taxes-Property 6,785.67 11,302.35 Total Expense 9,534.25 15,024.31 Net Ordinary Income 43,730.71 34,261.69 9%Cap 9% 9% Indicated Value $ 485,897 $ 380,685 Average Indication of Value $ 433,291 2.39 PM Dacono Industrial Park LLC 04/06/12 Profit & Loss Accrual Basis January through December 2009 Jan-Dec 09 Ordinary Income/Expense Income Rental Income 53,264.96 Total Income 53,264.96 Expense Bank Service Charges 98.58 Insurance Expense General Liability Insurance 500.00 Total Insurance Expense 500.00 Interest Expense 34,884.76 Professional Fees 150.00 Repairs and Maintenance 2,000.00 Taxes-Property 6,785.67 Utilities 0.00 Total Expense 44,419.01 Net Ordinary income 8,845.95 Net Income 8,845.95 Page 1 2:41 PM Dacono Industrial Park LLC 04/06112 Profit & Loss Accrual Basis January through December 2010 Jan-Dec 10 Ordinary Income/Expense Income Rental Income 49,286.88 Total Income 49,286.88 Expense Bank Loan fees 1,700.00 Bank Service Charges 122.08 insurance Expense General Liability Insurance 500.00 Total insurance Expense 500.00 Interest Expense 24,060.78 Professional Fees 804.88 Repairs and Maintenance 595.00 Taxes-Property 11,302.35 Total Expense 39,085.09 Net Ordinary Income 10,201.79 Net Income 10,201.79 Page 1 LL * lMuc4 oafi q Py 1OOCOMMERCIAL LEASE THIS COMMERCIAL LEASE, dated 112 L I , 2009, is entered into betweer. DACONO INDUSTRIAL PARK, LLC ("Landlo ") d G.E. ENTERPRISES, INC. d/b/r GREAT EXPECTATIONS, INC. ("Tenant"). For good and valuable consideration, the parties agree as follows: 1. LEASED PREMISES. Landlord hereby leases to Tenant and Tenant leases from Landlord, upon the terms and conditions hereinafter set forth, approximately 4.0 acres and one (1) building designated on Exhibit A (the west building), which together shall be referred to as the "Leased Property." The Leased Property is located in the south portion of the real property legally described as Lot 2A, Grand Divide Business Park Subdivision, the plat of which is recorded April 13, 2000 at Reception No. 2761443, in the County of Weld, State of Colorado. which property consists of approximately ten (10) acres and is commonly known as 5445 Colorado Boulevard, Dacono, CO 80514 (the entire 10 acre parcel shall be described herein as the "Premises"). In addition to the foregoing, Tenant shall have the shared right to use the landscaped area of the Premises located adjacent to Colorado Boulevard and the shared right to use the parking area located in the southeast corner of the Premises. Notwithstanding the foregoing, Landlord reserves to itself the right to use, occupy and/or lease the north portion of the Premises and the east office building (as shown on Exhibit A). Landlord and/or its lessee of the north portion of the Premises shall also have the shared right to use the landscaped area of the Premises located adjacent to Colorado Boulevard and the parking area located in the southeast corner of the Premises. Additionally, Landlord and any future lessee of the north portion of the Premises shall have the shared right to use the driveway on the Premises to access the areas of the Premises that are not being leased to Tenant, and the right to enter the east building and to use the picnic area outside of the building. In addition to the foregoing, Tenant may continue to use and occupy the east office building on the Premises, subject to all of the Tenant's maintenance obligations set forth in Section 7 below. Tenant understands that Landlord is seeking to find another tenant for the north portion of the Premises and the east office building. Therefore,Tenant agrees that its right to use and occupy the east office building may be terminated by the Landlord, provided that the Landlord has given the Tenant at least fifteen (15) days notice of the Landlord's decision to terminate the Tenant's right to use the east building. If Tenant fails to vacate the east building and surrender possession to the Landlord by the date prescribed in the notice from the Landlord, then Tenant shall be subject to an eviction from that building and Tenant shall be liable to Landlord for additional rent in the amount of$200.00 per day from the date that Tenant was required to surrender possession until such time as the Landlord has recovered possession through legal proceedings or otherwise. 2. TERM, The primary term of this Lease shall commence at 12:01 a.m. on October 1, 2009, and shall terminate at 11:59 p.m. on September 30, 2011, unless sooner terminated or extended as hereinafter provided. Tenant may limit the term of this Lease to one year ending at 11:59 p.m. on September 30, 2010, provided that Tenant has given written notice of its decision to vacate the Leased Property to Landlord on or before July 1, 2010, and provided Tenant fully vacates the Leased Property on or before September 30, 2010. If Tenant fails to provide such written notice to Landlord and/or if Tenant fails to fully vacate the Leased Property on or before September 30, 2010, then the term of this Lease shall remain two years and all of Tenant's obligations under this Lease shall continue for the second year of the lease term. If for any reason Landlord delivers the Leased Property to the Tenant after the commencement date, rental for the interim period between the commencement date and the actual date of possession shall be prorated based upon the actual number of days in such period. 3. RENT. The Tenant shall pay Landlord the sum of$4,066.00 per month for 12 months commencing October 1, 2009; hen$4,230.00 per month for the 12 months commencing . )ptobet 1,1010;$which rates shall not be adjusted for real property taxes or for Tenant's maintenance obligations. The monthly installments of rent shall be due on the 1' day of each month beginning with the first month of the lease. Rent payments shall be delivered to and made payable to Landlord at 12415 Dumont Way, Unit#106, Littleton, CO 80125. Notwithstanding the foregoing, Tenant's rent shall be reduced by $500.00 per month in the event that Landlord leases the north portion of the Premises and the east building to another tenant, which reduction in rent shall take effect on the first day of the first full month that the lease of the north portion of the Premises is in effect. 4. SECURITY DEPOSIT. Tenant previously deposited with Landlord the sum of $2.500.00, which shall be held by Landlord to secure the faithful performance of Tenant's obligations hereunder. Tenant shall maintain said balance with Landlord so that if any portion of said amount is used by Landlord to cure defaults of Tenant, Tenant shall promptly,with the next minimum rental installment due,restore said deposit to the full amount provided for hereunder. 5. TAXES. Tenant shall pay all sales and/or use taxes, if any, which may be charged or collectible as a consequence of the Tenant's business operation, and any and all personal property taxes which may apply to the Tenant's property on the Premises, with the exception of the taxes attributable to the two modular buildings on the Premises. 6. UTILITIES. Tenant agrees to pay as additional rent, before delinquency, all water, sewer,gas,electric and other utility charges applicable to the Premises. If Landlord leases out the north portion of the Premises, the new tenant shall be responsible for one-half the sewer, gas and electric charges,with Tenant to continue paying all water charges. Tenant shall also be responsible for the removal!of its trash from the Premises. Tenant shall not be responsible for disposing of the trash and debris from the Landlord's business operations conducted in the area outside of the buildings on the Premises. Landlord shall have the option, but not the obligation, to pay any delinquent utility charges of Tenant and in such even on notice to Tenant, the amounts so paid shall be due with the next installment of minimum ntal hereunder. 7. MAINTENANCE. Tenant shall keep the Leased Property in good repair, painted and clean, litter free, sanitary, and Tenant shall be responsible for all g ass, interior and exterior. Except for conditions attributable to ordinary wear and tear, Tenant shall keep all the 2 DACONO Rev.090209 improvements within the interior of the building(s) in good order and repair at the expense of said Tenant, including all heating, ventilation and air conditioning service for the Leased Property. Tenant shall also be responsible for janitorial maintenance of the Leased Property and shall keep the sidewalks in front of and around said Leased Property free from ice and snow, and the Leased Property free from all litter, dirt, debris, and obstructions. Tenant shall keep the Leased Property clean and in good condition required by the ordinances and the health, sanitary and police regulations of the;Town of Dacono and Weld County,Colorado; and to neither permit or suffer any disorderly conduct, noise or nuisance, whatever, about said property having a tendency to annoy or disturb any persons occupying adjacent property. Tenant shall also be responsible for mowing,watering and maintaining the landscaped area of the Premises adjacent to Colorado Boulevard and the picnic area behind buildings, and Tenant shall be responsible for snow removal rum the driveway and all of the parking areas of the Premises. Tenant shall not hold nor attempt to hold the Landlord liable for any injury, accident or damage whatsoever, whether proximate or remote, occurring through or caused by the failure to make repairs to Premises or by any repairs or alterations made to, on or about the Premises by the Landlord. The Landlord's liability hereunder shall be limited to the cost of the repairs or the cost of curing the defect. The Premises are being leased in an "as is" condition. The Landlord makes no representations or warranties of any kind or nature,express or implied, including,but not limited to, those of workmanlike construction, habitability, design, condition, compliance with the Americans With Disabilities Act, compliance with building codes, quality, suitability for Tenant's purposes, or otherwise as to the Premises and the improvements constructed thereon. Landlord expressly disclaims any such representations or warranties. Tenant has been given an opportunity to engage in an inspection of the Premises prior to the execution of this lease and has independently determined that the Premises are suitable for its purposes. The Landlord shall,at its own cost and expense, maintain only the roof, foundation and the structural soundness of the exterior walls of the building in good repair, reasonable wear and tear excepted. The Tenant shall repair and pay for any damage caused by the negligence of the Tenant, or caused by the Tenant's employees, agents or invitees, or caused by the Tenant's default hereunder. The term "walls" as used herein shall not included windows, glass or plate glass, doors or special store fronts. 8. ALTERATIONS. Tenant shall not make any alterations, changes, additions or improvements to the Premises, without first obtaining Landlord's written consent therefor, and provided that: a. All alterations, additions or improvements of the Premises by Tenant during the term of this Lease shall become the property of the Landlord. b. Tenant shall indemnify and hold Landlord harmless from any and all liabilities, damages or penalties, and any costs, expenses, or claims of any kind or nature arising out of said construction, alterations or additions or otherwise; such indemnification shall apply to any damages or injury to 3 DACONO Rev.090209 person or property and to mechanic's or materialmen's liens claimed or filed. c. Tenant, shall supply lien waivers protecting Landlord from all subcontractors and material supplies prior to the construction of any alterations, changes,additions or improvements to the Premises. d. Tenant shall ensure that contractors who perform any improvements on the Premises are duly covered by worker's compensation insurance. e. If at any time a lien or encumbrance is filed or recorded against the Premises as a result of any work performed by or on behalf of the Tenant, the Tenant shall promptly discharge said lien or encumbrance within 30 days after it is filed or Tenant shall deposit with Landlord a sum equal to 150% of the amount of the claimed lien or encumbrance or post a bond reasonably satisfactory to the Landlord and shall leave the same on deposit with the Landlord until the lien is discharged. 9. USE OF PREMISES. Tenant shall use the Leased Property for landscaping and nursery business purposes only and not for any other purpose without the prior written consent of Landlord. Tenant shall not use or permit the Leased Property to be used for any business or purpose deemed by Landlord to be hazardous, or in any manner as to constitute a violation of any applicable laws, rules, regulations, requirements or orders of any lawful governmental or public authority, or which may increase the liability of Landlord or affect the insurance premiums relating to the Premises. Tenant agrees that it will not operate its business so as to cause an unreasonable nuisance, offensive or annoying noise or odor to adjoining owners or tenants. 10. SIGN. Tenant may continue to use the signage for its business which is currently in place. Any new signs shall be designed and located on the premises in a manner to be approved by the Landlord,which approval shall not be unreasonably withheld. 11. FIXTURES AND EOUIPMENT. It is specifically understood and agreed that Tenant shall own any and all fixtures, equipment and machinery, or any other property installed by Tenant, at its own expense, in or on the Premises or improvements thereon during the term of this Lease or any extended term thereof,whether or not attached to any building and if Tenant is not in default, may remove said fixtures upon expiration of this Lease, or any extension or renewal of the same, provided, however, that Tenant shall repair any damage or defacement resulting from removal thereof. 12. TENANT'S INSURANCE. Tenant, during the entire term of this Lease Agreement, shall keep the Premises insured for the protection of the Landlord and Tenant (and the Landlord shall be so named as an additional insured in any policies)by maintaining general public liability and property damage insurance against claims for bodily injuries or death and property damage occurring upon or under the Premises and the sidewalks, streets or way adjacent thereto,to the extent of not less than$1,000,000.00 for bodily injury or death to any one 4 DACONO Rev.090209 person, and to the extent and not less than $1,000,000.00 for property damage. Upon request, but not more than one time in any calendar year, Tenant shall supply copies of such policies to the Landlord. 13. JNDEMNIFICATION, Tenant shall indemnify and hold harmless the Landlord from and against any and all claims arising from Tenants use of the Premises or from the conduct of its business or from any activity,work, or other things done,permitted or suffered by the Tenant in or about the Premises, and shall further indemnify and hold harmless the Landlord against and from any and all claims arising from any breach or default in the performance of any obligations on Tenant's part to be performed under the terms of the Lease, or arising from any act or negligence of the Tenant, its employees or invitees. 14. ASSIGNME$T AND SUBLETTING. Tenant shall not sublet or assign its interest in this Lease without the prior written consent of Landlord. Any such unauthorized assignment or subletting shall be void and shall constitute a default under the terms hereof. Tenant shall not mortgage or otherwise encumber this Lease. Any approved assignment or subletting shall not relieve Tenant from its obligations hereunder. 15. PEFAULT AND REMEDIES OF LANDLORD. The Tenant shall be in default if he fails to pay rent or any other sums required to be paid by Tenant under this Lease within ten days after receipt of notice from Landlord, and Tenant fails to cure such default or commence to cure and diligently proceeds to complete such a cure within 30 days of Tenant's receipt of notice of such non-monetary default, or if Tenant fails to perform or comply with any of the covenants, agreements,terms or conditions contained in this Lease. If Tenant fails to cure its default within the time required by law or the terms of this Lease, Landlord shall have the option, without further notice to Tenant or further demand for performance to a. File suit against Tenant to collect each installment of rent or other sum as it becomes due:or enforce any other obligation under this Lease;or, b. Re-enter and take possession of the Leased Property and all personal property therein and to remove Tenant and Tenant's agent and employees therefrom, and either (I) terminate this Lease and sue Tenant for damages for breach of the obligations of Tenant to Landlord under this Lease; or, (ii) without terminating this Lease, relet, assign or sublet the Leased Property, as the agent and for the account of Tenant in the name of Landlord or otherwise, upon the best terms and conditions Landlord may make with the new lessee for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions as Landlord, in its uncontrolled',discretion, may determine and may collect and receive the rent therefor,provided Landlord shall in no way be responsible or liable for any failure to relet the Leased Property or any part thereof, or for any failure to collect any rent due upon any such reletting and in this event, the rents received on any such reletting shall be applied first to the expenses of reletting and collecting. including, without limitation, all repossession costs, reasonable attorney's fees and any real estate commission paid, alteration costs and expenses of preparing 5 DACONO Rev.090209 said Leased Property for reletting, and thereafter toward the payment of the rental and of any other amounts payable by new lessee to Landlord. If the sum realized shall not be sufficient to pay such rent hereunder and other charges, Tenant shall pay to Landlord any such deficiency as it accrues. Landlord may sue therefor as each deficiency shall arise if Tenant shall fail to pay such deficiency within the time limit. In the event Landlord elects to re-enter or take possession of the Leased Property, Tenant shall quit and peaceably surrender the property to Landlord and Landlord may enter upon and repossess the property, by ',force, summary proceedings, ejectment or otherwise, and may dispossess Tenant and remove Tenant and may have, hold and enjoy the property and the rights to receive all rental income of and from the same. No such re-entry or taking of possession by Landlord shall be construed as an election on Landlords part to terminate or surrender this Lease unless a written notice of such intention is served on Tenant. Tenant acknowledges that late payment by Tenant to Landlord of rent or any other sums due hereunder will cause Landlord to incur costs and charges not contemplated by this Lease,the exact amount of which will be difficult to ascertain. Such costs include but are not limited to processing and accounting charges and late charges imposed upon Landlord by the terms of any encumbrances on the Premises. Accordingly, if any installment of rent or any other sum due hereunder from Tenant shall not be received by Landlord within ten days after the due date,then Tenant shall pay to Landlord a late charge equal to 5% of the amount due, in addition to any attorney's fees or other costs,of collection incurred by Landlord. The parties agree that such late charges represent a fair and reasonable estimate of the cost the Landlord will incur by reason of Tenant's late payment. Acceptance of such late charges by the Landlord shall in no event constitute a waiver of Tenant's default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. The enumeration of the foregoing remedies does not exclude any other remedy, but all remedies are cumulative and shall be in addition to every other remedy now or hereafter existing at law or in equity. In any event,Landlord shall be entitled to its costs and attorney's fees from Tenant in enforcing the provisions of this Lease. 16. WAIVER No waiver of any breach of any one of the conditions or covenants of this Lease by Landlord or Tenant shall be deemed to imply or constitute a waiver of any other condition or covenant of this Lease. The failure of either party to insist on strict performance of any condition or covenant,herein set forth, shall not constitute or be construed as a waiver of the rights of either or the right thereafter to enforce any other default of such condition or covenant. 17. SUBORDIN4TION. Tenant hereby agrees that its leasehold interest hereunder is and shall be subordinate to any mortgages now on, or hereafter to be placed on the Premises. This subordination shall be self-operative and no further instrument or certificate of subordination shall be required from Tenant. Tenant agrees, however, to execute any and all documents required by Landlord to evidence or confirm this subordination. 6 DACONO Rev.090209 . . .... ... . . 18. SURRENDER OF POSSESSION UPON TERMINATION, At the termination of this Lease at the end of the term or otherwise, Tenant shall surrender and redeliver the Leased Property to Landlord in a clean and orderly condition, and the buildings shall be in substantially the same condition as at tht commencement hereof, ordinary wear excepted. Tenant shall be responsible for removing and disposing all loose dirt, debris, trash, grass clippings, dead trees, loose branches and irrigation lines from the Premises. 19. HOLDING OVER. If Tenant remains in possession of the Leased Property or any part thereof after the expiration of the term and any option herein, such occupancy shall be a tenancy from month to month at a rental in the amount of the last applicable monthly rental plus all other charges payable hereunder, and upon all of the other terms, covenants and conditions hereof applicable to a month to month tenancy. However, the Landlord may increase the monthly rental at any time by giving at least 30 days notice to the Tenant. 20. ESTOPPEL CERTIFICATE. Tenant shall,within ten (10)days after request by the Landlord, deliver to Landlord or to its designee, an estoppel certificate stating that this lease is in full force and effect,the date;to which rent has been paid, the unexpired term of this lease and any other matters pertaining to this lease as may be reasonably requested by the Landlord. 21. SUCCESSORS. All of the terms, conditions, covenants and provisions set forth in this Lease Agreement shall inure to the benefit of and be binding upon the heirs, legal representatives, successors,executors,tenants and permitted assigns of the parties. 22. ENTIRE AGREEMENT, This Lease constitutes the entire agreement of the parties hereto. No representations, promises, terms, conditions, obligations or warranties whatsoever referring to the subject matter hereof, other than those expressly set forth herein, shall be of any binding legal force and effect whatsoever. No modification, change or alteration of this Lease shall be of any legal force or effect whatsoever unless in writing, signed by all the parties hereto. 23. ATTORNEYS'FEES. In the event the Tenant breaches any of the terms,conditions or covenants of this Lease Agreement and the Landlord employs attorneys to protect or enforce its rights hereunder and prevails,then the Tenant agrees to pay to the Landlord its reasonable attorney? fees. 24. FORCE MAJEURE. Neither the Landlord nor the Tenant shall be required to perform any term, condition',or covenant of this Irace Agreement so long as that performance is delayed or prevented by force majeure, which shall mean acts of God, strikes, lockouts,material or labor restrictions by any governmental authority, civil riot, floods and any other CAMP not reasonably within the control of the Landlord or the Tenant and which by the exercise of due diligence the Landlord or the Tenant are unable,wholly or in part,to prevent or overcome. 25. COLORADO LAW TO APPLY. This Lease Agreement shall be governed by and construed in accordance with the laws of the State of Colorado. 7 DACONO Rev.090209 26. ADDITIONAL PROVISIONS. a. Tenant shall park its vehicles within the area leased to Tenant pursuant to this agreement. In the event Landlord obtains a tenant for the north portion of the Premises, Tenant shall restrict the parking of its vehicles to the west half of the parking lot, which is in front of the west building, and Tenant shall not park any of its vehicles directly in front of the east building. b. Landlord reserves the right to issue regulations from time to time concerning the use of the parking lot in front of the two buildings so as to ensure that no tenant unreasonably interferes with any other tenant's use of the parking lot, and Tenant shall comply with any such regulations. c. Landlord may alter and relocate the driveway and the parking area for the Premises without any liability to the Tenant and without giving rise to a claim for eviction or constructive eviction of the Tenant, disturbance of the Tenant's use of the Leased Premises or setoff or abatement of rent, provided Tenant is afforded reasonable access to the building. d. Landlord may construct one or more buildings or otherwise develop that portion of the real property that is not leased to the Tenant, without any liability to the Tenant and without giving rise to a claim for eviction or constructive eviction of the Tenant, disturbance of the Tenant's use of the Leased Property or setoff or abatement of rent, provided Tenant is afforded reasonable access to the building and the area leased to Tenant. e. Tenant warrants that no real estate broker has represented or will n.preseut it in this lease transaction and that no finder's fees or other commissions have been earned by a third party for which Landlord shall be liable. IN WITNESS WHEREOF, the parties have signed their names the day and year first mentioned above. LANDLORD: TENANT: DACONO INDUST PARK,LLC G.E.ENTERPRISES,INC. �vlj A G4S �rGS. By: Edward C. Eucker By: David Gray U GUARANTEE 8 DACONO Rev.090209 For value received, I hereby guarantee the payment of rent and the performance of all of the covenants and agreements by the Tenant in the foregoing lease agreement, and I acknowledge that I may be held personally liab for the performance of these obligations. 1 Dated: Z\c.\ 1 Guarantor: David Gra 9 DACONO Rev.090209 Sep-24-07 02 : 28P Flagstaff Properties , Inc 303-449-9267 P.06 111,41-4 m 111 pia o ios ove,op3 _ l Tt S17114.r_M1�._rf,eA,, .07 tl . •..3., .1, 4 F ' a, .4 c3 11 eail 1O �� Irift , T —d� lIP, ' < I1 Jri it ‘' z k 4 I I s ra .� r i - ;�� 1 4. i'mall"÷"wat• i It r iiiimersannemin ` .d LSGSC00e0e dS2100 40 4.2 des - - ' •-r@• .- 'as, J.nc 303-449-9267 P.06 Spovie_map }►H a.p Atliseeell! .. � 4 .,... y . -- • a , .._. .c.m t a. i ! 1i`v .00 µz:. i . " _ fY �• .%c P r` . Ig4 X a ..- 34.1. ii •.....1 kvi i Li a.._, , . 1 401 go lift. ,. .., 0-- Jo it ts ....... -;) () lift a itifi1 III s Q L a` `; "�{ �! _ , I t}7 r -,6e' j R o adi t.ot .. _ .], 1 _____ vi I ..t :. ,. . _ .41 .., .;.i.vit:„, . • S1 Nig is aaningtainasswasa r •, 6SSS££8EDE dS2 ;EO to i.2 dac I S College Ave SOLD Fort Collins,CO 80524-Fort Collins/Loveland Submarket Sale on 05/07/2010 for$326,700($1.00/SF)-Research Complete Commercial Land of 7.50 AC(326,700 SF) ;Z8I1 `L i - Spaulding Lrt CU d O) O T v O a. U el Z E WI[lox O r_. Li i 12871 'asi 6 1",5fAltri; Microsoft' BriStiecone St S. f ‘u..,-,,L„, Virtual Earth" :>3�L6.Jini,-:ura r.;_r .-:y.:0_'_!_a,L.17=1.J.`,11) f.' Buyer&Seller Contact Info Recorded Buyer: Amada LLC Recorded Seller: Jay Stoner True Buyer: Robert Hinderaker True Seller: Jay Stoner Robert Hinderaker Jay Stoner 5415 W 27th St 605 S College Ave Greeley,CO 80634 Fort Collins,CO 80524 (970)330-3261 (970)229-1952 Michael Ketterling Michael Ketterling Buyer Type: Individual Seller Type: Individual Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal , Transaction Details ID: 1922562 t Sale Date: 05/07/2010 Sale Type: Investment Escrow Length: - Land Area: 7.50 AC(326,700 SF) Sale Price: $326,700-Full Value Proposed Use: Commercial Price/SF Land Gross: $1.00($43,560.00/AC) Zoning: Commercial Percent Improved: - Total Value Assessed: $47,370 Improved Value Assessed: - Land Value Assessed: $47,370 Land Assessed/SF: $0.00 Financing: $662,291.00 from First Nat'l Bk Legal Desc: COM 2146.70 FT S AND 40 FT W OF NE COR 2-7-69,W 280 FT,N 68 20'W 95.30 FT,N 35 50'W 254.36 FT, W 768.56 FT,S 377.36 FT,E 1286 FT, N 136 FT TO BEG,LESS MUSTANG,FTC Parcel No: 97021-00-018 Document No: 20100026564 Sale History: Sold for$326,700 on 07/30/2010 Non-Arms Length Sold for$326,700 on 05/07/2010 This copyrighted report contains research licensed to 1st Net Real Estate Services-69536. 5/18/2012 ±f Page 1 4h 2425 W1-25 Frontage,Rd -19.68 Acres SOLD 2 Erie,CO 80516-Weld County Submarket Sale on 08/22/2008 for 51,000,000(S1.17/SF)-Research Complete Commercial Land of 19.68 AC(857,261 SF) '� I Z' d I iq 1 1 1 ti'el.',. -x 17 / 4��i� '' 7i �i 1 « .. fir, • ; Y 3.NYtlsq,�'9s 3 aP £ t 3_. 7 (t ,_� :---77.?,:-f.4'':.::.::', O 1 £f A4` 4, :Y ? p$11;, `t .. s ,,,,, ,,„,„,,,:?..„ lei gi, 1, } i.�' x 9i: Y 1 r r f Microsoft' i t Virtual Earth' J'-=•�3 Ji1,:_it!1 1 ,'J=!c7:!jir?t". IJ Buyer&Seller Contact Info Recorded Buyer: Stuart Bombel Recorded Seller: Felipe&Lucio Vasquez True Buyer: Stuart Bombel Wholesaler True Seller: Felipe&Lucio Vasquez Stuart Bombel Felipe Vasquez 1707 E Center Ave 2425 W 1-25 Frontage Rd Denver,CO 80209 Erie,CO 80516 (303)477-9961 (303)828-5464 Buyer Broker: Unique Properties, LLC-TCN Listing Broker: RE/MAX Commercial Alliance Worldwide Bradford Pech,SIOR Greg Knott (303)504-3444 (303)321-5888 Lee Koutsos Transaction Details ID: 1573905 Sale Date: 08/22/2008(388 days on market) Sale Type: Owner/User Escrow Length: 60 days Land Area: 19.68 AC(857,261 SF) Sale Price: $1,000,000-Confirmed Proposed Use: Commercial Asking Price: 1850000 Price/SF Land Gross: $1.17($50,813.01/AC) Zoning: AG Lot Dimensions: Irregular Transfer Tax: $110 Street Frontage: 1,326 feet on W 1-25 Frontage Rd Financing: Down payment of$1,000,000.00(100.0%) Topography: Level On-Site lmprov: Rough graded Off-Site Improv: Curb/GutterlSidewalk,Electricity,Gas,Sewer,Streets,Water Legal Desc: Por N2 SE4 Sec22,Ti,R68 All that Pt lying SEly of the Bull Canal Situs Parcel No: 146722400035 Document No: 3573934 ] This copyrighted report contains research licensed to 1st Net Real Estate Services-89536. 5/18/2012 . Page 3 ;J TBD Redwood Dr - Lot 1 Blk 1 SOLD 3 Loveland,CO 80537-Fort Collins/Loveland Submarket Sale on 10/01/2008 for$200,000($0.79/SF)-Research Complete Commercial Land of 5.84 AC(254.517 SF)-Sold for Land Value 1 r1>lhSt t z { o i ..7..' 4 F 13th St E Nickel Dr' o b N O E12th St e "° (/^L`J Fy n,-"�+Ax s n...._ m Z 8 .: -.-:---- ..c? E lltll St -' - E1lt z E loth St t^J • . =410 yd, ' P.i1,A,ak Microsoft'9th St l Virtual Earth' J1=1J..::J.a�iv13C_ryv_.!J! :tau].b"J IL- ,9,"all i -r F.F.til U T Buyer&Seller Contact Info Recorded Buyer: Loveland Southwest,LLC Recorded Seller: Home Depot USA Inc True Buyer: Loveland Southwest,LLC True Seller: The Home Depot U.S.A.,Inc. Gary Baker 2455 Paces Ferry Rd SE 5105 St.Andrews Dr Atlanta,GA 30339 Loveland,CO 80537 (770)433-8211 (970)669-3144 Buyer Type: Other-Private Seller Type: Corporate Buyer Broker: Realtec Commercial Real Estate Listing Broker: Realtec Commercial Real Estate Services Services Ken McCrady Michael Ehler (970)222-5945 (970)488-3020 Transaction Details ID: 1695083 Sale Date: 10/01/2008(63 days on market) Sale Type: Investment OR Owner/User Escrow Length: 180 days Land Area: 5.84 AC(254,517 SF) Sale Price: $200,000-Confirmed Land Area-Net: 5.84 AC(254,521 SF) Asking Price: 509034 Proposed Use: Retail,Office, Mixed Use,Chemical/Oil Refinery Price/SF Land Gross: $0.79($34,229.58/AC) Zoning: B,City of Loveland Sale Conditions: Bulk/Portfolio Sale, Excess Land Street Frontage: 905 feet on E 11th St 310 feet on Gorom Ave 340 feet on Redwood Dr Financing: Down payment of$11,158.00(5.6%) $188,842.00 from Home St Bk Topography: Level On-Site Improv: Raw land Off-Site Improv: Curb/Gutter/Sidewalk,Electricity,Gas,Sewer,Streets,Water Improvements: None /"'(1 This copyrighted report contains research licensed to 1st Net Real Estate Services-89536. 5/18/2012 Page 5 _i� 16529 Weld County Road 70 SOLD 4 Eaton,CO 80615-Weld County Subrearket Sale on 04!20/2010 for 8445 000(81 24lSF)-Research Complete Commercial Land of 8.24 AC(358.934 SF) O 51313 1 L Buyer&Seller Contact Info Recorded Buyer. Jrad Lie Recorded Seller. Loveland Bank of Commerce 1775 Sherman Denver,CO 80203 True Buyer: - True Seller: Loveland Bank of Commerce Jeff Schoonover 102 E 29th St Loveland,CO 80538 (970)679-7150 Seller Type: Bank/Finance Sale Date: 04/20/2010 Land Area: 8.24 AC(358,934 SF) Escrow Length: - Proposed Use: - Sale Price: $445,000-Full Value Price/SF Land Gross: $1.24($54,004.85/AC) Zoning: AG Parcel No: 080511300034 Document No: 3688233 .fs�m/4�zCYi'... :15' :v'n �t L Je$ sv h,.u.aY.t«ti3vv.rnap.,-r. The patties involved were not at liberty to disclose any of the vital data or were unable to be contacted.All information is based on recorded county documents and county assessor records. Mill Levy:64.237 This copyrighted report contains research licensed to 1st Net Real Estate Services-89536. 5118/2012 III Page 8 raica. `t lair r. rryyy rr{rn,,rro igIIi �uiu 1st.Nettteal•Estate Services,Ines,3333 S.Wadsworth Blvd..Ste 200 l�rlult onto )wt Lakewood%.CO 80227,Phone: 720-962-5750'-Fax:7?0,9622-5760 LE`ITElt•.OF AUTHORITY To Whom It May Cbncern: I;. Edward Charles Fuckeram the owner, and/or agent of the owner;of the following real!and/or business personal. property: ADDRESS PARCELJSCREDULENUMBER. COUNTY See flxhibit A,Attached hereto and incorporated herein by this reference I,do herebyautborize 1st Net Real Estate Services,Inc:,to represent:my interests and;to appear on my behalf}efore Country Assessor, Count}*,Board of equalization; Board of`County,. Commissioners, the;Colorado Board 6f Assessment Appeals,,binding'arbitration, District Court, ail,,Colorado.state courts.and/or any other agency of entity with regard to any anti alt matters) concerning the valuation rand taxation of the above mentioned property(s)'for tax years 2011,2012 and,any or all previous;`years as allowed by- Colorado laW., The undersigned requests that copies of all decisions from.any.of the above entities, or any other agency pr entity, as is involved 'pertaining to matters-of valuation and/or taxation for the property(s),be mailed to 1st Net Rest Estate.Serfices,:Inc- 3333-S WatlswortllxBWd_S`ite•2U0 LakewoodrCO 80227 Phone;; (72©)962-$750 Fag. (720)962-5760 I hereby expiessly revoke any and all previous-authorizations relating totheProperty(s')-This authorization shall remain in effect until this authorization is tee'rminated in:a written instrument executed by the undersigned. .Dated:this 1. day of (nay .201x;_ Owner DACSP'N INDUSTRI -PARK,L /EDWARD;CHARLES EUCKER Signature: ( a I' Print Name: iAAtra e- �kC .C Title:. Owner/Manaeer: Address: 12365 Dumont Way City,State,Zip: Littleton CO go 125 Phone:` 303-7914300 Fax#: 363r ?91' 641 to STAEE OF COLORADO. ) COUNTY OF f3oue.\t 5 SS ) `e``\ $w,qrntoand ubscrtbd before me this y day 11la 201 a2, by aQ ••UNT�`�1 E'dtt v"etdr�r Ci F LUX el- r 1 i`?� SPRY' N alt., Witness*hand and uiTlerarseah 1 � i OIrt/ t4. My COmmrasion expires fla 1 ,, © i, O. O; I S Notabepo irc <," 4Jo � Address `1 in./ 5. AtIAO\or Err 499y �t� • PU$.Q1",O . 'tin./ r)ti, tr>.3 1� t4F ofG "R)cII1l3IT A" Address Schedule or Parcel# County 1.12325 Dunrontway R0329637 Douglas County 2..12365'DiiinonVWay R0329638 Douglas County 3. 4.6140 Rain Dance (Res) 'R0024651 Douglas County 5.1777 Larimer St 2203 (Res) 2331-68-i 74 Denver County 6.5445 Colorado Blvd. R8772700 Weld County' BOE SUMMARY SHEET Account Number: R8772700 DACONO INDUSTRIAL PARK LLC 12365 DUMONT WAY LITTLETON, CO 80125 HEARING DATE: August 1, 2012, AT 2:15 PM HEARING ATTENDED? IY�J l) NAME: ‘b O,v-\ Cesprcy, - IReorz5An-6AVC AGENT NAME: 1ST NET REAL ESTATE SERVICES INC 3333 S WADSWORTH BLVD SUITE 200 LAKEWOOD, CO 80227 APPRAISER NAME: WJM DECISION ACTUAL VALUATION APPROVE BY SET BY ASSESSOR BOARD TOTAL ACTUAL VALUE $609,840.00 L,O9, p .0O COMMENTS:MOTION BY G TO (LOA/- SECONDED BY 1t. R Conway -- N) Garcia -- N) Failed to prove appropriate value Kirkmeyer-- N) No comparables given Long -- N) Assessor's value upheld Rademacher--(syN) Other: RESOLUTION NO. 2012-2009** M:\CBOE\Letter Templates\BOE Summary Sheet.docx Hello