HomeMy WebLinkAbout760414.tiff 95 Da 01
Recorded at.._i.jai o'clock AUG 3 976
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Reception No . ..7465 Recorder.
IRAfty-z N-FEUERS
IIITHI$ DEED, Made this 27th ' day of August , 19 76
between John W. Kramer and Theodore Lee Bernhardt y�g�
u of the
County of Weld and State of Colorado, of the first part, and
The County oft Weld
of the County of Weld and State of
rH
Colorado,of the second part:
WITNESSETH, That the said part ies of the first part,for and in consideration of the sum of
l- TEN AND NO/100 — i DOLLARS
to the said part ies of the first part in hand paid by said party of the second part, the receipt whereof is
hereby confessed and acknowledged, ha ve granted, bargained,sold and conveyed,and by these presents do
-� grant, bargain, sell, convey and confirm, unto the said part y of the second part, its heirs and assigns for-
ever, all the following described lot or parcel of land,situate,lying and being in the
County of Weld and State of Colorado, to wit:
MLots 2 and 3, in Block 2, Burger and Fry's Subdivision, being a subdivision of
a part of Lot Four of the Southeast Quarter of the Northeast Quarter of Section
Five, Township Five, N. , Range Sixty-five West of the Sixth Principal Meridian,
according to the subdivision of lands by the Union Colony of Colorado, Weld
County, Colorado.
also known as street and number 300 Fifth Street
TOGETHER with all and singular the hereditamenta and appurtenances thereto belonging, or in anywise
appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all
the estate, right, title, interest, claim and demand whatsoever of the said part ies of the first part, either in law
or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described with the appurtenances, unto the
said part y of ¶le rerrc''ond part, its heirs and assigns forever. And the said part ies of the first part,
for them selves, e1heirs, executors, and administrators, do covenant, grant, bargain,and agree to and
with the said party of the second part, its heirs and assigns, that at the time of the ensealing and delivery
of these presents, are well seized of the premises above conveyed, as of good, sure, perfect, absolute and
indefeasible estate of inheritance, in law, in fee simple, and ha ve good right, full power and lawful authority
to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear
from all former and other grants, bargains, sales, liens, taxes, assessments and encumbrances of whatever kind or
naturesoever. Subject to easements, rights of way, restrictions and reservations
as now established of record.
and the above bargained premises in the quiet and peaceable possession of the said part y of the second part,
its heirs and assigns against all and every person or persons lawfully claiming or to claim the whole
or any part thereof, the said part ies of the first part shall and will WARRANT AND FOREVER DEFEND.
IN WITNESS WHEREOF, the said part ies of the first part ha ve hereunto set their hands
and seal s the day and year first above written.
e
NAIL ( ( ,t �/�l�If/L (SEAL)
\11. .. .. . f(' J n W. Kramer
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(SEAL)
I0I_�Q Ai�). TV 0LIIY'�_ ` �)y9J M/ 7✓U_-r
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!/ 1��- (SEAL)
TATE-OF COLORADO, 1 Theodore Lee Bernhardt
i
�u 6 l_ `,County of Weld ss.
-fibg`fnl`ygolttt}ilsirument was acknowledged before me this 27th day of August
19 76 /Ay W. Kramer and Theodore Lee e rdt
My commission expires a7y Cu,rrniys;P.l sF!r> May 6,7 19 .Wit y or al seal.
Notary Public.
•
No.932.• WARRANTY DEED.—For Photographic Record.Brsdfmd Publishing Co..182446 Stout Street,Denver,Colorado 5.76
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Bernhardt Parcel
Looking southwesterly
across 5th St. Mobile
home is on subject
rot - site. Residence is at
:y the right.
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Looking southeasterly
across 5th St. Resi-
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Looking southwesterly , 1 1
from near the center of -
the site. Shows outhouse
and sheds in the southwest
portion of the site.
Looking northwesterly
across neighbor's yard.
Subject residence centerje
of photo.
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- 2 -
BERNHARDT/KRAMER RESIDENCE
Sketch of Floor Plan
24'
1 " = 6 ft.
Bedroom 1 Bedroom 16'
•
I -
Living - Eating - Kitchen 12'
- 3 -
LEGAL DESCRIPTION
Lots Two (2) and Three (3) , Block Two (2) , Burger-Fry's
Subdivision, being a subdivision of a part of Lot Four (4)
of the Southeast Quarter of the Northeast Quarter (SE,'-NE4)
of Section Five (5), Township Five (5) North, Range Sixty
five (65) West of the Sixth Principal Meridian, according
to the subdivision of lands by the Union Colony of Colorado,
Weld County, Colorado.
SITE DESCRIPTION
The subject site is square in shape with the north line fronting on the
south side of 5th Street, being 100 feet in width. Depth is also 100 feet.
It therefore contains 10,000 square feet. Fifth Street is a partially improved
public thoroughfare with paved driving surface and dirt and gravel curbs and
gutters or ditches. The site is slightly below grade of the fronting street.
Topography is practically level and probably has slow surface drainage.
Soils are light brown, fine sandy loam. No water, sewer or natural gas is
connected to the site. Electricity is from Home Light and Power Co. via
overhead lines. There are a few old "wild" elm trees and bushes.
A low quality residence occupies the west half of the site or Lot 3. A
mobile home is parked on Lot 2 - however, the only improvement or facility
to accomodate this additional residence is a yard light pole and meter for
electricity. There are no other utility hookups .
DESCRIPTION OF IMPROVEMENTS
Dwelling
The property is improved with an older, single family residence probably
constructed in two phases. The front portion being cinderblock construction
with a gable roof; the back part is frame construction with a shed type roof.
The combination averages 40 to 50 years of age. It is rectangular in shape
and contains a total of 772 square feet of living space. The front or cinderblock
portion is divided into two equal size bedrooms. The rear or shed portion is
one room utilized as a combination living room, dining area and kitchen. There
are no plumbing fixtures.
- 4 - Ro)frtJ MIR bell
Si
Exterior - The front 384 square feet is cinderblock construction, gable
roof with roll composition cover. The exterior of the cinderblock is painted
but in poor condition. Concrete foundation. The rear area is frame construction,
board siding covered with roll composition material. The roof is also roll
composition. The exterior of the brick chimney flue near the center of the
residence is in poor condition.
Interior - The two bedrooms have three inch tongue and groove fir floor-
ing, partially covered with linoleum and old carpeting. The ceiling is rough
finished and damaged drywall and celotex, partially painted. Interior side
walls are similarly finished. There is a frame and boxcar siding style division
wall between the two rooms . A walk through panel door from the front of the
building or north side is nailed shut. Electrical outlets are limited to one
porcelain ceiling mounted fixture.
The kitchen-living area has six inch board floors partially covered with
poor linoleum, cardboard ceiling, walls are a combination of cinderblock to
the north, masonite and poor celotex on the interior of the exterior walls.
Two ceiling mounted porcelain light fixtures , wood and coal cook stove for
heat. Also, a propane fired cooking range.
Outbuildings
Two old frame sheds, one partially burned - both have poor roofs - one
almost no roof. These add no value to the total property and provide a mini-
mum of storage. There is a fair to poor 20 square foot outhouse.
Well located in the south central portion of the site - probably about on
the line between the two lots. Equipped with an old style handle pump and a
broken down mechanical pump jack and small electric motor. Mr. Bernhardt
reports the well was drilled to a depth of 60 to 65 feet in 1970.
ZONING
Lots 2 and 3 of the subject property are zoned I, Industrial District by
Weld County. Uses permitted in these districts are found in excerpts from
pi applicable ordinances in the Addenda of Volume I (Basic Data Report) previously
submitted for this appraisal project. All of Lot 3 and the southwest half of
Lot 2 is within the flood "valley district" as interpreted by the City code.
L
- 5 - Robert J.Mit(hel,
ASSESSED VALUE AND TAXES
According to the records in the Weld County Assessor's office, the
subject Lots 2 and 3 are assessed at $60 for land and $230 for improvements
for a total of $290. The applicable mill levy is 91. 07 which results in general
real estate taxes of $26.41 .
HIGHEST AND BEST USE
s I
Present use - as low income housing, with potential for industrial
development.
EVALUATION
Sales History of Subject
A deed dated March 9 , 1970 and recorded at Reception No. 1543559
transferred this property from Isabell Hinojosa to Theodore Lee Bernhardt and
John W. Kramer at a price of $2 ,000.
Since that purchase some interior repairs have been made to the house,
the well was drilled and equipped with a manual pump and an electric motor
driven pump jack.
Market Approach
On the following page is the comparative grid adjusting the three most
comparable sales to an indication of value of the Bemhardt4 ramer parcel.
This includes two lots , the main dwelling, the well and sheds. The total site
area is 10,000 square feet. The dwelling is 772 square feet consisting of
three rooms and no bath.
The three resultant indicators provide rather wide brackets ranging from
ti $4,800 to $7,100 for the property. Sale No. 4 requires some heavy adjustments
and is therefore a weaker comparable although it is in the subject Burger-Fry's
Subdivision. Sale No. 6 is also in the Burger-Fry's Subdivision but requires
some rather large adjustments and the sale took place three years ago. Sale
No. 7a is one of the better comparables due to its recent date and general
similarity although it is semi-modern, includes a bath and is located in the
- 6 - Robr rt.1 amchru
MARKET DATA APPROACH
Comparative Grid
Bernhardt/Kramer
Adjustment Item Sale No. 4 Adj. Sale No. 6 Adj. Sale No. 7a Adj.
Date of Sale 5/74 +$ 300 5/73 +$1000 4/76 =
Age & Condition Inf. +$ 500 Inf. +$ 200 Sim. _
Construction/Quality Inf. +$ 500 Inf. +$ 300 Sim. =
Size - Sq. Ft. 480 +$ 600 500 +$ 600 440 +$ 700
Rms./Bdrms . 4/2 -$ 100 4/2 -$ 100 4/2 -$ 100
Baths None = None = 1 -$1000
Bsm't./Finish None = None = None =
Site (Zoning) 8, 125 +$ 400 6,875 +$ 500 4,500 +$1000
Location Inf. +$ 500 Inf. +$ 500 Inf. +$ 500
Other Well +$ 600 Well +$ 600 Financing -$ 250
Sale Price $ 1 ,500 $ 3,500 $ 4,500
Total Adjustments $ + 3,300 $ +3,600 $ + 850
Indicated for Subject $ 4, 800 $ 7, 100 $ 5,350
Value indicated for subject, after weighting of comparable sales $ 6,000
- 7 -
Spanish Colony. Nevertheless, it is the best comparable and the final value
indication, by the Market Approach, is considered to be $6 ,000.
The other checks of the value reported are reasonable as compared with
the general unit sales price of the 13 improved sales . These figures are based
on a Highest and Best Use of low income housing.
Improvements only: $3,500 _ 772 sq. ft. = $4. 53 p. s.f.
Land only: $2, 500 _ 10, 000 sq. ft. = $ . 25 p.s.f.
Total: $6 ,000 : 772 sq. ft. = $7.77 p.s.f. - of building area
The unit land value is very near the average and median for the sales
studied. The unit price can be expected to be slightly below average due to the
above average size of the site, however the location - fronting on 5th Street,
is above average.
The unit value of improvements only at $4. 53 is about the average -
which is reasonable due to the plain minimum quality residence, slightly above
average in size.
The $7.77 per square foot represented by the total price divided by the
dwelling area is slightly above average due to the large size of the
site.
As a result of this study, the value estimated by the market comparisons
is estimated to be $6 ,000.
Income Approach
Based on the study of rentals and GRMs presented in the Basic Data
report, a monthly rent of $50 and a GRM of 70 are chosen as appropriate for
this property.
50 x 70 = $3 ,500
This method fails to reflect the value of excess land.
Value as an Industrial Site
The total value reported as $6,000 represents a unit value of $0. 60 per
square foot if the total value were all for land. This is above the average and
median of $0.26 to $0.27 presented by the six "lettered" land sales but is
- 8 - Ruhcrl J Mitchell
quite realistic in the industrial land market. Although the site suffers some
flood potential, part of this site is outside the "flood valley" district of the
City of Greeley zoning ordinance regulations. The land, as an industrial
site, has good frontage. The above average size or assemblage is also desir-
able for industrial purposes. Therefore, the total value reported by the com-
parison approach, as an improved site, is also realistic as an unimproved
industrial site.
Correlation
It has been previously pointed out in the Basic Data report that a Cost
Approach is of little value due to the high degree of accrued depreciation which
exists in the improvements involved with this property.
The Income Approach is a weak indicator although several of the sale
properties are rented and reasonable estimates of the GRM and rent are sub-
stantiated.
The Market Approach is the most reliable for this type property and
reasonable market data is available to lend reliance to this estimate.
As a result of all of these considerations , value of the subject
Bernhardt/Kramer ownership is estimated to be $6 ,000.
- 9 - Robert J.Mitchell
It' •
•
GREELEY URBAN RENEWAL AUTHORITY
CONTRACT OF PURCHASE
The GREELEY URBAN RENEWAL AUTHORITY, a body corporate and politic
the State of Colorado, hereinafter called the "Authority" agrees to purchase
and John W Kramer and Theodore Lee Bernhart
hereinafter called "Owner" or "Owner-Occupant," agrees to sell the following
described real property situated in the City of Greeley, County of Weld,
State of Colorado:
Block Two, Lots 2 and 3, Burger-Fry Subdivision, County of Weld.
together with all fixtures and appurtenances , including, but not limited to,
all cooling, heating, lighting, plumbing and air conditioning equipment, and
fixtures located thereon or in, and all shelving and partitions attached to
the real estate, unless specifically excepted herein,
Parcel No.
upon the following terms and conditions:
1. The total purchase price to be paid by the Authority for said property,
including all improvements and fixtures located thereon, shall be the sum of
FIVE THOUSAND ONE HUNDRED AND NO/100 c Dollars
($ 5,100.00 -4 , less the adjustments thereto,, hereinafter specifically set
forth.
2. The Owner agrees to deliver to the Authority within five (5) days from
the date of this Contract, evidence of title in the form of a title insurance
policy or an abstract of title not certified to date. Thereupon, the Authority
shall order a Commitment for Title Insurance Policy to be issued by a title
insurance company selected by the Authority. In the event the commitment for
title insurance does not show that Owner has a good and merchantable fee simple
title to said premises or shows outstanding liens against or encumbrances upon
the property, or in the event said commitment or other investigation shows rights
of parties in possession other than those listed in Paragraph 8 hereof, the
Authority may, at its option, satisfy such liens or encumbrances, or acquire
the rights to possession, and subtract from the amount to be paid to the Owner
the amount of any consideration paid on account thereof.
If Owner is unable to show merchantable title in himself, Owner shall,
at the option of the Authority, convey to the Authority such title as he has,
and the purchase price shall be abated in an amount equal to the cost to the
Authority of whatever curr/ive action is deemed by the Authority to be necessary.
3. On or before yD6 dir c't , Owner agrees to execute and deliver
to the Authority a good and sufficient General Warranty Deed conveying the propert
free and clear of all liens and encumbrances, except existing rights-of-way,
easements, reservations, liens of the Northern Colorado Water Conservancy districts
and liens of the current years', taxes.
Upon delivery of said Deed, the Authority agrees to deliver or mail a
check payable to Owner in the amount of the purchase price for said property,
less lien encumbrances , unpaid taxes, pro-rated rents, and water rents , when the
title company has notified the Authority that its requirements have been satisfiec
and that no intervening instruments affecting title to said property appear of
record subsequent to date of title commitment and prior to recording of Deed from
Owner to the Authority.
General property taxes for 19 76 (based on amount of the previous year's
taxes or as assessed) , rents , water rents, and currect assessments, if any, shall
be apportioned to the date of vesting title in the Authority or the effective
411
date of possession o such real property by the Autho'y, whichever is
earlier. All special improvement taxes which are a lien against said property
as of the date of delivery of said Deed shall be paid by the Owner.
4. When rents have been collected by the Owner for a period after the
• date of vesting title in the Authority or the effective date of possession of such
real property by the Authority, whichever is earlier, such pro—rated rent shall
be paid to the Authority or deducted from the purchase price at final settlement.
5. Loss or damage to the property from any cause including fire,
vandalism,
or casualty, from July 27, 1976 the date of the Authority's appraisal
until the Deed from the Owner to the Authority has been recorded, shall be at the
risk of the Owner.
6. Possession of said property shall be delivered to the Authority simul-
taneously with delivery of the Deed. The Owner shall deliver possession free
and clear of all possessory rights of all parties , and shall vacate said
premises on or before the closing date, provided that if the Owner or tenant
enters into a new lease with Greeley Urban Renewal Authority, such owner or
tenant may continue in possession in accordance with the terms of said lease.
7. It is agreed that time is of the essence, and all covenants and agreement;
herein contained shall be binding upon and shall inure to the benefit of the
heirs, executors, administrators, personal representatives, successors, and
. assigns of the parties.
S. Owner represents that the undersigned are the sole owners of the fee
simple title to said premises and that no parts of said premises are occupied
by tenants or others except as listed on the attached Exhibit A who occupy as
tenants for terms expiring as shown in Exhibit A.
The Owner agrees to allow a representative of the Authority to inspect
the property and to determine the status of the parties in possession.
9. If the Owner by deed or otherwise is unable to convey good and merchan—
table title free and clear of any interest, then notwithstanding any provision
hereof to the contrary, the Authority may, in lieu of completing the purchase
of the property at any time prior to closing, proceed to acquire the property
by condemnation. In that event, the Owner agrees that this Contract shall
continue in full force and effect until the conclusion of the condemnation case.
The Owner further agrees to enter into a written stipulation to be filed in the
court records, the terms of which shall be that the purchase price above stated
is the fair market value of the subject property, inclusive of every interest
therein.
10. When executed by the parties, this Agreement shall be specifically
enforceable by any court of competent jurisdiction.
11. This Contract shall fulfill the requirement in the Authority's Land
Acquisition Policy Statement for notice to Owner of the date upon which
possession will be required by the Authority. The Owner acknowledges that he
was not required to agree to a date less than 90 days after the date of execution
of this Contract and' that, if the date in Section 3 hereof is less than said
period, that date is mutually agreed to.
IN WITNES REOF, the parties have hereunto subscribed their names this
a day of , gif
• y
GREELEY URBAN RENEWAL AUTHORITY
ATTEST: gy C .
Chairman. .
Secr Lary
Page Two
0 •
RESOLUTION NO. 46
(Series 1975)
RESOLUTION ESTABLISHING FAIR MARKET VALUES
WHEREAS, the Greeley Urban Renewal Authority (the "Authority") has decided
to acquire the land and structures on five parcels of real estate;
WHEREAS, the Authority has caused said structures and land to be appraised
in accordance with the guidelines and standards established by the Department
of Housing and Urban Development, and
WHEREAS, the individual members of the Authority have considered the
appraisals, and have been apprised that the written appraisals have in turn
been reviewed by the Review Appraiser;
NOW, THEREFORE, BE IT RESOLVED BY THE GREELEY URBAN RENEWAL AUTHORITY:
1. That the legal descriptions of the property from which the structure
and land are being purchased are:
a. Block Two, Lot 6, Burger and Fry's Subdivision, Weld County,
Colorado.
b. Block One, Lot 4, Burger and Fry's Subdivision, Weld County,
Colorado.
c. Block Two, Lot 2 and 3, Burger and Fry's Subdivision, Weld
County, Colorado.
d. Block Two, South 1/2 of Lot 11, City of Greeley, Weld County,
Colorado.
2. Based upon deeds and other instruments recorded in the Weld County
records, and upon all other documents which have been brought to the attention
of the Authority, it appears that the above-described properties are designated
on the records of the Authority and owned by:
a. Joe M. Flores, Block Two, Lot 6.
b. Goldie M. Smith and Delbert L. Pearson, Block One, Lot 4.
c. Theodore Lee Bernhart and John W. Kramer, Block Two, Lot 2 and 3.
d. Marshall A. Vigil and Julia M. Vigil, Block Two, South 1/2 of Lot 11.
3. The above-named owner or owners of the properties appear to own fee
simple title to the property.
4. The fair market values of the property and improvements are:
a. $2,920.00
b. $4,080.00
c. $5,100.00 (Lot 2 - $1,250.00 - Lot 3 - $3,850.00)
d. $2,545.00
5. It appears to the Authority, based upon all matters brought to the
attention of the members thereof, the appraisers who rendered the written
appraisals upon which this determination of fair market values have been made,
and the Review Appraiser who reviewed those written appraisals, are competent,
and the appraisals and the review of those appraisals appear to have been
done in accordance with applicable state and federal law and in accordance with
the policies and requirements of the Department of Housing and Urban Development
PASSED AND ADOPTED THIS \-1;7% DAY OF AUGUST, 1976.
GREELEY URBAN RENEWAL/AUTHORITY
0- , QeO
ATTEST: Chairman dA d
+A
Secretary
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