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Home My WebLink About20090486.tiff• • Esther Gesick From: Sent: To: Subject: Attachments: Record of roceedings - Servic. Bruce Barker Wednesday, January 07, 2009 3:36 PM Esther Gesick FW: Beebe Draw - Record of Proceedings Email #7 (Final Email) Record of Proceedings - Service Plan Exhibits (0015211O).PDF Original Message From: Kathryn Garner [mailto:kgarner@CCCFIRM.COM] Sent: Friday, January 02, 2009 4:38 PM To: Kathryn Garner; Bruce Barker; Paul Cockrel; MaryAnn McGeady; Richard N. Lyons Cc: Cyndy Giauque; Kristin Bowers Subject: Beebe Draw - Record of Proceedings Email #7 (Final Email) Attached please find the Exhibits to the Service Plan, as well as the Supporting Documents numbered 5-7. Kathryn L. Garner Collins Cockrel & Cole 390 Union Boulevard, Suite 400 Denver, Colorado 80228-1556 303.986.1551 Telephone 800.354.5941 Toll Free 303.986.1755 Facsimile PRIVILEGED COMMUNICATION. This email may contain attorney -client or otherwise privileged and confidential information intended only for the use of the individual or entity named above. Dissemination, distribution or copying of this communication is strictly prohibited. If you are an attorney or law firm, consult Title I of the federal Electronic Communications Privacy Act of 1986. If you believe that this email has been sent to you in error, please reply to the sender that you received the message in error and delete this email. ATTACHMENTS. Although this email and any attachments are believed to be free of any virus, the files should be virus scanned before opening them. 1 2029- ez784• EXHIBIT A [FIGURE 1 - MAP OF DISTRICT No. 1] EXHIBIT A [FIGURE 2 - MAP OF DISTRICT NO. 2] EXHIBIT A [ FIGURE 3] Legal Description of District No. 1 Legal Description of a parcel of land being located in Sections 3, 4, 5, 8, 9, 10, 15, 16 and 17, Township 3 North, Range 65 West of the 6th Principal Meridian, Weld County, Colorado being more particularly described as follows: Beginning at the Southeast Corner of said Section 16 and considering the South line of said Section 16 as bearing South 89°27'00" West and with all bearings contained herein relative thereto; thence along said South line South 89°27'00" West 5138.65 feet to the Southeast Corner of said Section 17; thence along the South line of said Section 17 South 89°32'56" West 5327.95 feet to the Southwest Corner of said Section 17; thence along the West line of said Section 17 North 00°29'53" West 5259.39 feet to the Northwest Corner of said Section 17; thence along the West line of said Section 8 North 00°09'44" West 5291.77 feet to the Northwest Corner of said Section 8; thence along the West line of the Southwest Quarter of said Section 5 North 00°25'29" West 2654.03 feet to the West Quarter Corner of said Section 5; thence along the West line of the Northwest Quarter of said Section 5 North 00°24'36" West 1327.22 feet to the Southwest Corner of the North half of the Northwest Quarter of said Section 5; thence along the South line of the North half of the Northwest Quarter of said Section 5 North 89°44'12" East 2631.31 feet to the Southeast Corner of the North half of the Northwest Quarter of said Section 5; thence along the South line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 89°44'12" East 1331.58 feet to the Southeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the East line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 00°39'07" West 1325.38 feet to the Northeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the North line of the Northeast Quarter of said Section 5 North 89°39'32" East 1333.17 feet to the Northeast Corner of said Section 5; thence along the North line of the Northwest Quarter of said Section 4 North 89°45'34" East 2638.09 feet to the North Quarter Corner of said Section 4; thence along the North line of the Northeast Quarter of said Section 4 North 89°24'21" East 805.01 feet; thence departing said North line South 40°04'03" East 9.61 feet to the centerline of the Platte Valley Canal as recorded in Book 1068 under Reception No. 02008616, records of said County; thence along said centerline the following 25 courses and distances; South 10°09'07" West 45.49 feet; thence South 27°01'47" West 281.98 feet; thence South 35°02'43" West 129.95 feet; thence South 46°24'26" West 113.95 feet; thence South 67°56'02" West 114.41 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 43°14'52" and a radius of 210.00 feet; thence Southwesterly along the arc of said curve 158.51 feet to the end of said curve; thence tangent from said end of curve South 24°41'10" West 39.72 feet to the beginning of a tangent curve concave to the East having a central angle of 68°10'08" and a radius of 217.23 feet; thence Southeasterly along the arc of said curve 258.45 feet to the end of said curve; thence tangent from said end of curve South 43°28'58" East 159.97 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 48°38'11" and a radius of 81.88 feet; thence Southerly along the arc of said curve 69.51 feet to the end of said curve; thence tangent from said end of curve South 05°09'12" West 19.20 feet to the beginning of a tangent curve concave to the Northwest having a central angle of 25°54'10" and a radius of 260.90 feet; thence Southwesterly along the arc of said curve 117.95 feet to the end of said curve; thence tangent from said end of curve South 31°03'22" West 130.56 feet; thence South 09°40'40" West 95.26 feet; thence South 03°11'43" East 116.07 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 36°30'36" and a radius of 180.24 feet; thence Southeasterly along the arc of said curve 114.85 feet to the end of said curve; thence tangent from said end of curve South 39°42'19" East 116.57 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 45°22'3" and a radius of 4.82 feet; thence Southeasterly along the arc of said curve 90.93 feet to the end of said curve; thence tangent from said end of curve South 85°04'50" East 170.71 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 68°29'30" and a radius of 126.33 feet; thence Southeasterly along the arc of said curve 151.02 feet to the end of said curve; thence tangent from said end of curve South 16°35'20" East 120.95 feet to the beginning of a tangent curve concave to the West having a central angle of 25°35'07" and a radius of 440.41 feet; thence Southerly along the arc of said curve 196.66 feet to the end of said curve; thence tangent from said end of curve South 08°59'48" West 101.24 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 59°32'10" and a radius of 242.34 feet; thence Southeasterly along the am of said curve 251.82 feet to the end of said curve; thence tangent from said end of curve South 50°32'22" East 97.62 feet; thence departing said centerline North 89°31'39" East 2111.73 feet; thence North 17°52'53" West 380.92 feet; thence North 89°31'39" East 337.87 feet; thence North 00°2821" West 150.00 feet; thence North 89°31'39" East 1867.95 feet; thence South 00°14'30" West 680.87 feet; thence South 88°49'23" East 78.63 feet; thence South 12°49'39" East 29.72 feet; thence South 77°10'18" West 30.00 feet; thence South 12°49'43" East 30.00 feet; thence North 77°10'18" East 30.00 feet; thence South 12°49'56" East 14.14 feet; thence South 19°27'45" East 607.82 feet; thence South 43°51'20" East 959.22 feet; thence South 11°54'57" East 159.45 feet; thence South 60°05'14" East 1098.46 feet; thence South 22°08'46" East 2187.26 feet; thence South 17°45'43" West 814.40 feet to a point on the Northerly line of that certain parcel of land described in deed as Parcel A, recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Northerly line the following 5 courses and distances; South 38°04'26" West 66.71 feet; thence South 70°24'28" West 210.50 feet; thence North 65°42'40" West 1366.02 feet; thence North 44°50'58" West 1116.45 feet; thence South 71°22'10" West 137.84 feet; thence departing said Northerly line South 71°22'10" West 539.96 feet; thence South 43°28'15" East 318,43 feet; thence South 16°14'00" East 175.00 feet; thence South 00°40'00" East 380.00 feet; thence South 27°02'02" West 73.00 feet; thence North 65°16'00" West 155.00 feet; thence North 56°09'00" West 462.00 feet; thence North 68°59'00" West 256.00 feet; thence South 31°13'00" West 248.00 feet; thence South 80°26'00" West 196.00 feet; thence North 65°07'00" West 214.52 feet to a point on the Easterly line of that certain parcel of land described in deed as Exhibit A recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Easterly line the following 13 courses and distances; North 29°11'51" West 43.34 feet; thence North 35°35'04" West 285.27 feet; thence North 69°49'46" West 52.20 feet; thence North 34°41'43" West 94.87 feet; thence North 40°48'08" East 154.56 feet; thence North 72°48'51" East 101.53 feet; thence North 31°54'29" East 62.43 feet; thence North 17°31'32" East 59.77 feet; thence North 20°04'7" West 110.72 feet; thence North 07°06'02" West 291.23 feet; thence North 11°50'01" West 107.28 feet; thence North 33°54'04" West 150.60 feet; thence North 07°02'17" West 163.23 feet to a point on the Easterly line of that certain parcel of land described in deed as Exhibit B recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Easterly line North 36°47'35" East 143.90 feet; thence departing said Easterly line North 57°06'34" West 166.61 feet; thence North 75°57'04" West 582.06 feet; thence North 88°50'24" West 134.11 feet to a point on said Easterly line; thence departing said Easterly line North 27°27'03" West 226.36 feet; thence North 39°26'25" West 223.17 feet to a point on said Easterly line; thence departing said Easterly line North 09°54'20" West 362.45 feet; thence North 17°02'45" West 167.22 feet to a point on said Easterly line; thence departing said Easterly line North 28°46'38" West 241.99 feet; thence North 42°33'43" West 106.54 feet to a point on said Easterly line; thence along said Easterly and Northerly lines of said Exhibit B the following 8 courses and distances; North 61°52'04" West 76.22 feet; thence North 89°17'02" East 139.17 feet; thence North 03°45'51" West 390.32 feet; thence North 70°52'01" West 116.11 feet; thence North 72°17'16" West 122.30 feet; thence North 55°39'25" West 181.68 feet; thence North 31°18'35" West 1083.87 feet; thence South 58°31'52" West 57.39 feet; thence departing said Northerly line South 31°28'08" East 522.19 feet; thence South 10°25'09" East 99.33 feet; thence South 33°45'06" East 157.31 feet; thence South 51°32'58" West 95.52 feet to a point on the Westerly line of that certain parcel of land described in deed as Exhibit A recorded in Book 1068 under Reception No. 02008614 records of said County; thence along said Westerly line the following 3 courses and distances; South 00°23'32" East 177.92 feet; thence South 10°18'17" East 78.26 feet; thence South 30°46'13" East 152.46 feet; thence departing said Westerly line South 47°56'08" East 265.05 feet; thence South 37°58'18" West 164.42 feet; thence South 06°08'48" West 239.20 feet to a point on said Westerly line; thence departing said Westerly line South 33°32'10" East 129.62 feet; thence South 74°20'47" East 218.49 feet to a point on said Westerly line; thence departing said Westerly line South 21°05'52" East 136.12 feet to a point on said Westerly line; thence departing said Westerly line South 05°34'43" East 216.02 feet to a point on said Westerly line; thence along said Westerly line South 40°38'56" East 130.48 feet; thence departing said Westerly line South 06°37'15" West 112.76 feet to a point on said Westerly line; thence along said Westerly line the following 3 courses and distances; South 13°34'14" East 59.67 feet; thence South 35°26'24" East 136.24 feet; thence South 49°59'37" East 73.11 feet; thence departing said Westerly line South 72°03'02" East 149.26 to a point on said Westerly line; thence departing said Westerly line South 28°24'46" East 133.76 feet; thence South 40°21'52" East 122.55 feet; thence South 31°08'20" East 168.24 feet to a point on said Westerly line; thence along said Westerly line the following 2 courses and distances; South 35°26'45"N East 144.84 feet; thence South 52°48'55" East 145.60 feet; thence departing said Westerly line South 53°35'20" East 274.60 feet to a point on said Westerly line; thence departing said Westerly line South 01°31'33" West 75.03 feet to a point on said Westerly line; thence departing said Westerly line South 30°O3'16" West 263.26 feet; thence South 06°03'15" East 282.44 feet; thence South 25°15'47" East 337.55 feet to a point on said Westerly line; thence departing said Westerly line South 23°51'09" East 264.59 feet; thence South 29°30'41" East 174.35 feet to a point on the Easterly line of that certain parcel of land described in deed, recorded in Book 1068 under Reception No. 02008615, records of said County; thence along said Easterly line the following 6 courses and distances; South 37°11'26" East 98.99 feet; thence South 52°03'11" East 69.68 feet; thence South 55°31'12" East 148.65 feet; thence South 16°11'37" East 138.93 feet; thence South 42°52'31" East 177.69 feet; thence South 25°O9'42" East 155.19 feet; thence departing said Easterly line South 24°47'31" East 180.62 feet; thence South 36°43'59" East 146.03 feet; thence South 25°08'23" West 111.15 feet; thence South 02°01'55" East 227.19 feet; thence South 20°03'39" East 193.90 feet; thence South 12°33'0"1 East 346.85 feet; thence South 10°22'6" West 264.13 feet; thence South 05°07'42" West 157.19 feet; thence South 32°32'33 West 220.12 feet; thence South 19°19'41" West 268.66 feet; thence South 38°04'00" West 284.92 feet; thence South 79°43'0" West 714.61 feet; thence South 24°52'12" West 224.67 feet; thence South 07°13'57" East 37.52 feet to a point on the Northerly line of said Section 15; thence along said Northerly line North 89°28'21" East 75.13 feet; thence departing said Northerly line South 00°41'51" East 5263.69 feet to a point on the Southerly line of said Section 15; thence along said Southerly line South 89°48'56" West 358.01 feet to the Southeast Corner of said Section 16; said point also being the TRUE POINT OF BEGINNING; Including that portion thereof platted as Beebe Draw Farms and Equestrian Center First Filing under Revised Plat and Dedication recorded April 12, 1988 in Book 1192 as Reception No. 2137453. The above -described parcel contains 4120.472 acres more or less and is subject to the following easements, agreements and rights -of -way. Deed recorded in Book 512, Page 551, (location of right-of-way cannot accurately be defined per legal description), Deed recorded in Book 655, Page 293, Deed recorded in Book 655, Page 502, Agreement recorded in Book 961, Page 223, Right -of -Way and Easement recorded in Book 1045 under Reception No. 01983413, (location of right-of-way and easement cannot accurately be defined per legal description), Quit Claim Deed recorded in Book 1068 under Reception No. 02008614 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008615 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008616 (shown hereon), Canal Right -of -Way Agreement recorded in Book 1068 under Reception No. 02008617, Quit Claim Deed recorded in Book 1068 under Reception No. 02008618, Quit Claim Deed recorded in Book 1068 under Reception No. 02008619 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008620 (shown hereon), Agreement recorded in Book 1068 under Reception No. 02008621, Right -of -Way recorded in Book 1068 under Reception No. 02008622 (shown hereon), Grazing and Recreational Lease recorded in Book 1068 under Reception No. 02008623, Amendment to Grazing and Recreational Lease recorded in Book 1068 under Reception No. 02008624, Quit Claim Deed recorded in Book 1068 under Reception No. 02008625 (20 foot access easement subject to grazing lease), Right - of -Way easement and Licenses recorded in Book 1068 under Reception No. 02008626, Quit Claim Deed recorded in Book 1068 under Reception No. 02008627 (reconfirms rights previously granted in Book 1045 under Reception No. 10983413), Quit Claim Deed recorded in Book 1068 under Reception No. 02008628 (20 foot permanent access easement), Quit Claim Deed recorded in Book 1076 under Reception No. 02017072 (affects parcels recorded in Book 1068 under Reception No. 02008628, Reception No. 02008620, Reception No. 02008616 and Reception No. 02008627), Quit Claim Deed recorded in Book 1111 under Reception No. 02052204, Quit Claim Deed recorded in Book 1112 under Reception No. 02053446, (Amends Legal in Quit Claim Deed recorded in Book 1068 under Reception No. 02008619), Agreement recorded in Book 1117 under Reception No. 02058723, Grazing and Recreational Lease recorded in Book 1148 under Reception No. 02090926, Order Approving Settlement Agreement recorded in Book 1201 under Reception No. 02147157, Supplemental Declaration recorded In Book 1224 under Reception No. 02170703, (Relocates easement granted in Book 1068 under Reception No. 02008628), Amendment to Grant of Easement Recorded in Book 1268 under Reception No. 02218734, (restates and amends right-of-way and easement recorded in Book 1045 under Reception No. 01983413 and Book 1068 under Reception No. 02008627), Oil and Gas Lease recorded in Book 1327 under Reception No. 02280130 and all other easements, agreements and rights -of -way of record. EXHIBIT A (FIGURE 4 - LEGAL DESCRIPTION OF DISTRICT No. 2] District 2 — Legal Description Legal Description of a parcel of land being located in Sections 3, 4, 5, 8, 9, 10, 15, 16 and 17, Township 3 North, Range 65 West of the 6th Principal Meridian, Weld County, Colorado being more particularly described as follows: Beginning at the Southeast Corner of said Section 16 and considering the South line of said Section 16 as bearing South 89°27'00" West and with all bearings contained herein relative thereto; thence along said South line South 89°27'00" West 5138.65 feet to the Southeast Corner of said Section 17; thence along the South line of said Section 17 South 89°32'56" West 5327.95 feet to the Southwest Corner of said Section 17; thence along the West line of said Section 17 North 00°29'53" West 5259.39 feet to the Northwest Corner of said Section 17; thence along the West line of said Section 8 North 00°09'44" West 5291.77 feet to the Northwest Corner of said Section 8; thence along the West line of the Southwest Quarter of said Section 5 North 00°25'29" West 2654.03 feet to the West Quarter Corner of said Section 5; thence along the West line of the Northwest Quarter of said Section 5 North 00°24'36" West 1327.22 feet to the Southwest Corner of the North half of the Northwest Quarter of said Section 5; thence along the South line of the North half of the Northwest Quarter of said Section 5 North 89°44'12" East 2631.31 feet to the Southeast Corner of the North half of the Northwest Quarter of said Section 5; thence along the South line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 89°44'12" East 1331.58 feet to the Southeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the East line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 00°39'07" West 1325.38 feet to the Northeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the North line of the Northeast Quarter of said Section 5 North 89°39'32" East 1333.17 feet to the Northeast Corner of said Section 5; thence along the North line of the Northwest Quarter of said Section 4 North 89°45'34" East 2638.09 feet to the North Quarter Corner of said Section 4; thence along the North line of the Northeast Quarter of said Section 4 North 89°24'21" East 805.01 feet; thence departing said North line South 40°04'03" East 9.61 feet to the centerline of the Platte Valley Canal as recorded in Book 1068 under Reception No. 02008616, records of said County; thence along said centerline the following 25 courses and distances; South 10°09'07" West 45.49 feet; thence South 27°01'47" West 281.98 feet; thence South 35°02'43" West 129.95 feet; thence South 46°24'26" West 113.95 feet; thence South 67°56'02" West 114.41 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 43°14'52" and a radius of 210.00 feet; thence Southwesterly along the arc of said curve 158.51 feet to the end of said curve; thence tangent from said end of curve South 24°41'10" West 39.72 feet to the beginning of a tangent curve concave to the East having a central angle of 68°10'08" and a radius of 217.23 feet; thence Southeasterly along the arc of said curve 258.45 feet to the end of said curve; thence tangent from said end of curve South 43°28'58" East 159.97 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 48°38'11" and a radius of 81.88 feet; thence Southerly along the arc of said curve 69.51 feet to the end of said curve; thence tangent from said end of curve South 05°09'12" West 19.20 feet to the beginning of a tangent curve concave to the Northwest having a central angle of 25°54'10" and a radius of 260.90 feet; thence Southwesterly along the arc of said curve 117.95 feet to the end of said curve; thence tangent from said end of curve South 31°03'22" West 130.58 feet; thence South 09°40'40" West 95.26 feet; thence South 03°11'43" East 116.07 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 36°30'36" and a radius of 180.24 feet; thence Southeasterly along the arc of said curve 114.85 feet to the end of said curve; thence tangent from said end of curve South 39°42'19" East 116.57 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 45°22'3" and a radius of 4.82 feet; thence Southeasterly along the arc of said curve 90.93 feet to the end of said curve; thence tangent from said end of curve South 85°04'50" East 170.71 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 68°29'30" and a radius of 126.33 feet; thence Southeasterly along the arc of said curve 151.02 feet to the end of said curve; thence tangent from said end of curve South 16°35'20" East 120.95 feet to the beginning of a tangent curve concave to the West having a central angle of 25°35'07" and a radius of 440.41 feet; thence Southerly along the arc of said curve 196.66 feet to the end of said curve; thence tangent from said end of curve South 08°59'48" West 101.24 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 59°32'10" and a radius of 242.34 feet; thence Southeasterly along the arc of said curve 251.82 feet to the end of said curve; thence tangent from said end of curve South 50°32'22" East 97.62 feet; thence departing said centerline North 89°31'39" East 2111.73 feet; thence North 17°52'53" West 380.92 feet; thence North 89°31'39" East 337.87 feet; thence North 00°28'21" West 150.00 feet; thence North 89°31'39" East 1867.95 feet; thence South 00°14'30" West 680.87 feet; thence South 88°49'23" East 78.63 feet; thence South 12°49'39" East 29.72 feet; thence South 77°10'18" West 30.00 feet; thence South 12°49'43" East 30.00 feet; thence North 77°10'18" East 30.00 feet; thence South 12°49'56" East 14.14 feet; thence South 19°27'45" East 607.82 feet; thence South 43°51'20" East 959.22 feet; thence South 11°54'57" East 159.45 feet; thence South 60°05'14" East 1098.46 feet; thence South 22°08'46" East 2187.26 feet; thence South 17°45'43" West 814.40 feet to a point on the Northerly line of that certain parcel of land described in deed as Parcel A, recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Northerly line the following 5 courses and distances; South 38°04'26" West 66.71 feet; thence South 70°24'28" West 210.50 feet; thence North 65°42'40" West 1366.02 feet; thence North 44°50'58" West • • 1116.45 feet; thence South 71°22'10" West 137.84 feet; thence departing said Northerly line South 71°22'10" West 539.96 feet; thence South 43°28'15" East 318.43 feet; thence South 16°14'00" East 175.00 feet; thence South 00°40'00" East 380.00 feet; thence South 27°02'02" West 73.00 feet; thence North 65°16'00" West 155.00 feet; thence North 56°09'00" West 462.00 feet; thence North 68°59'00" West 256.00 feet; thence South 31°13'00" West 248.00 feet; thence South 80°26'00" West 196.00 feet; thence North 65°07'00" West 214.52 feet to a point on the Easterly line of that certain parcel of land described in deed as Exhibit A recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Easterly line the following 13 courses and distances; North 29°11'51" West 43.34 feet; thence North 35°35'04" West 285.27 feet; thence North 69°49'46" West 52.20 feet; thence North 34°41'43" West 94.87 feet; thence North 40°48'08" East 154.56 feet; thence North 72°48'51" East 101.53 feet; thence North 31°54'29" East 62.43 feet; thence North 17°31'32" East 59.77 feet; thence North 20°04'7" West 110.72 feet; thence North 07°06'02" West 291.23 feet; thence North 11°50'01" West 107.28 feet; thence North 33°54'04" West 150.60 feet; thence North 07°02'17" West 163.23 feet to a point on the Easterly line of that certain parcel of land described in deed as Exhibit B recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Easterly line North 36°47'35" East 143.90 feet; thence departing said Easterly line North 57°06'34" West 166.61 feet; thence North 75°57'04" West 582.06 feet; thence North 88°50'24" West 134.11 feet to a point on said Easterly line; thence departing said Easterly line North 27°27'03" West 226.36 feet; thence North 39°26'25" West 223.17 feet to a point on said Easterly line; thence departing said Easterly line North 09°54'20" West 362.45 feet; thence North 17°02'45" West 167.22 feet to a point on said Easterly line; thence departing said Easterly line North 28°46'38" West 241.99 feet; thence North 42°33'43" West 106.54 feet to a point on said Easterly line; thence along said Easterly and Northerly lines of said Exhibit B the following 8 courses and distances; North 61°52'04" West 76.22 feet; thence North 89°17'02" East 139.17 feet; thence North 03°45'51" West 390.32 feet; thence North 70°52'01" West 116.11 feet; thence North 72°17'16" West 122.30 feet; thence North 55°39'25" West 181.68 feet; thence North 31°18'35" West 1063.87 feet; thence South 58°31'52" West 57.39 feet; thence departing said Northerly line South 31°28'08" East 522.19 feet; thence South 10°25'09" East 99.33 feet; thence South 33°45'06" East 157.31 feet; thence South 51°32'58" West 95.52 feet to a point on the Westerly line of that certain parcel of land described in deed as Exhibit A recorded in Book 1068 under Reception No. 02008614 records of said County; thence along said Westerly line the following 3 courses and distances; South 00°23'37 East 177.92 feet; thence South 10°18'17" East 78.26 feet; thence South 30°46'13" East 152.46 feet; thence departing said Westerly line South 47°56'08" East 265.05 feet; thence South 37°58'18" West 164.42 feet; thence South 06°08'48" West 239.20 feet to a point on said Westerly line; thence departing said Westerly line South 33°32'10" East 129.62 feet; thence South 74°20'47" East 218.49 feet to a point on said Westerly line; thence departing said Westerly line South 21°05'52" East 136.12 feet to a point on said Westerly line; thence departing said • Westerly line South 05°34'43" East 216.02 feet to a point on said Westerly line; thence along said Westerly line South 40°38'56" East 130.48 feet; thence departing said Westerly line South 06°37'15" West 112.76 feet to a point on said Westerly line; thence along said Westerly line the following 3 courses and distances; South 13°34'14" East 59.67 feet; thence South 35°26'24" East 136.24 feet; thence South 49°59'37" East 73.11 feet; thence departing said Westerly line South 72°03'02" East 149.26 to a point on said Westerly line; thence departing said Westerly line South 28°24'46" East 133.76 feet; thence South 40°21'52" East 122.55 feet; thence South 31°08'20" East 168.24 feet to a point on said Westerly line; thence along said Westerly line the following 2 courses and distances; South 35°26'45"N East 144.84 feet; thence South 52°48'55" East 145.60 feet; thence departing said Westerly line South 53°35'20" East 274.60 feet to a point on said Westerly line; thence departing said Westerly line South 01°31'33" West 75.03 feet to a point on said Westerly line; thence departing said Westerly line South 30°O3'16" West 263.26 feet; thence South 06°03'15" East 282.44 feet; thence South 25°15'47" East 337.55 feet to a point on said Westerly line; thence departing said Westerly line South 23°51'09" East 264.59 feet; thence South 29°30'41" East 174.35 feet to a point on the Easterly line of that certain parcel of land described in deed, recorded in Book 1068 under Reception No. 02008615, records of said County; thence along said Easterly line the following 6 courses and distances; South 37°11'26" East 96.99 feet; thence South 52°03'11" East 69.68 feet; thence South 55°31'12" East 146.65 feet; thence South 16°11'37" East 138.93 feet; thence South 42°52'31" East 177.69 feet; thence South 25°O9'42" East 155.19 feet; thence departing said Easterly line South 24°47'31" East 180.62 feet; thence South 36°43'59" East 146.03 feet; thence South 25°08'23" West 111.15 feet; thence South 02°01'55" East 227.19 feet; thence South 20°03'39" East 193.90 feet; thence South 12°33'0"1 East 346.85 feet; thence South 10°22'6" West 264.13 feet; thence South 05°07'42" West 157.19 feet; thence South 32°32'33 West 220.12 feet; thence South 19°19'41" West 268.66 feet; thence South 38°04'00" West 284.92 feet; thence South 79°43'0" West 714.61 feet; thence South 24°52'12" West 224.67 feet; thence South 07°13'57" East 37.52 feet to a point on the Northerly line of said Section 15; thence along said Northerly line North 89°28'21" East 75.13 feet; thence departing said Northerly line South 00°41'51" East 5263.69 feet to a point on the Southerly line of said Section 15; thence along said Southerly line South 89°48'56" West 358.01 feet to the Southeast Corner of said Section 16; said point also being the TRUE POINT OF BEGINNING; Including that portion thereof platted as Beebe Draw Farms and Equestrian Center First Filing under Revised Plat and Dedication recorded April 12, 1988 In Book 1192 as Reception No. 2137453, except whereas listed in the District 2 Exceptions. The above -described parcel contains 4120.472 acres more or less and is subject to the following easements, agreements and rights -of -way. Deed recorded in Book 512, Page 551, (location of right-of-way cannot accurately be defined per legal description), Deed recorded In Book 655, Page 293, Deed recorded in Book 655, Page 502, Agreement recorded in Book 961, Page 223, Right -of -Way and Easement recorded in Book 1045 under Reception No. 01983413, (location of right-of-way and easement cannot accurately be defined per legal description), Quit Claim Deed recorded in Book 1068 under Reception No. 02008614 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008615 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008616 (shown hereon), Canal Right -of -Way Agreement recorded in Book 1068 under Reception No. 02008617, Quit Claim Deed recorded in Book 1068 under Reception No. 02008618, Quit Claim Deed recorded in Book 1068 under Reception No. 02008619 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008620 (shown hereon), Agreement recorded in Book 1068 under Reception No. 02008621, Right -of -Way recorded in Book 1068 under Reception No. 02008622 (shown hereon), Grazing and Recreational Lease recorded in Book 1068 under Reception No. 02008623, Amendment to Grazing and Recreational Lease recorded in Book 1068 under Reception No. 02008624, Quit Claim Deed recorded in Book 1068 under Reception No. 02008625 (20 foot access easement subject to grazing lease), Right - of -Way easement and Licenses recorded in Book 1068 under Reception No. 02008626, Quit Claim Deed recorded in Book 1068 under Reception No. 02008627 (reconfirms rights previously granted in Book 1045 under Reception No. 10983413), Quit Claim Deed recorded in Book 1068 under Reception No. 02008628 (20 foot permanent access easement), Quit Claim Deed recorded in Book 1076 under Reception No. 02017072 (affects parcels recorded in Book 1068 under Reception No. 02006628, Reception No. 02008620, Reception No. 02008616 and Reception No. 02008627), Quit Claim Deed recorded in Book 1111 under Reception No. 02052204, Quit Claim Deed recorded in Book 1112 under Reception No. 02053446, (Amends Legal in Quit Claim Deed recorded in Book 1068 under Reception No. 02008619), Agreement recorded in Book 1117 under Reception No. 02058723, Grazing and Recreational Lease recorded in Book 1148 under Reception No. 02090926, Order Approving Settlement Agreement recorded in Book 1201 under Reception No. 02147157, Supplemental Declaration recorded in Book 1224 under Reception No. 02170703, (Relocates easement granted in Book 1068 under Reception No. 02008628), Amendment to Grant of Easement Recorded in Book 1268 under Reception No. 02218734, (restates and amends right-of-way and easement recorded in Book 1045 under Reception No. 01983413 and Book 1068 under Reception No. 02008627), Oil and Gas Lease recorded in Book 1327 under Reception No. 02280130 and all other easements, agreements and rights -of -way of record. District 2 Exceptions Exception A: Replat of First Filing, Beebe Draw Farms and Equestrian Center, Phase 1, which includes Lots 54-56 (inclusive), 63-67(inclusive), 85-90(inclusive), 92-94(inclusive), 114,115, 119-126 (inclusive), and 139-143 (inclusive). Cumulative area contains 91.759 acres, more or less. Exception B: All of Section 16, Township 3 North, Range 65 West of the 6t" Principal Meridian, Weld County, Colorado. Described Section contains 620.687 acres, more or less. District 2 parcel as described and excepted contains 3,407.846 acres, more or less. EXHIBIT A [FIGURE 5 - VICINITY MAP] I I I I I rn I I I I I I I N • • REI LIMITED LIABILITY COMPANY, dba Investors Limited Liability Company fry' .2 7 Date: STATE OF COLORADO ) COUNTY OF 0UFFERSDO ) The oregoing instrument was acknowledged day of 'UVV2_ , 1995, by KIDtli4 as Manager of the REI Limited Liability Company, liability company doing business in Colorado as Liability Company. 1�picil sa my hand and official 4'440t 1. Sasion expires: as. z Notary Public 13 seal. , 1995 ofgqre j�qqe this a`r*. R. ILe LIc.V a Wyoming limited Investors Limited ZSEIBITA Legal Description of Company Provertv The Property of Company referred to in the foregoing Agreement for Water Service is situated in Weld County, Colorado, and is more specifically described in that certain Sheriff's Deed dated June 17, 1994, recorded in the County records at Book 1447, Folio 0575, Reception No. 02393929, a copy of which is attached hereto as Exhibit A-1 and incorporated herein by reference. EXHIBIT A B 1447 ABC 02393929 06/17/94 16:25 $70.00 1/014 F 0875 MARY ANN YPUERSTEIN CLERK & RECORDER WELD CO, CO ARE3llia, DISTRICT COURT, MELD COUNTY, COLORADO Case No. 93 CV 214, Courtroom I SHERIFF'S DEED REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, Plaintiff, V. BEEBE DRAW FARMS, LTD., a Colorado limited partnership; DRS. ELLIOTT, NALSETE & WALKER, P.C., FROZEN PENSION PLAN, formerly known as DRS. ELLIOTT, HALSETE & WALKER, P.C., DEFINED BENEFIT PENSION PLAN, also known as DRS. ELLIOTT, EANSETH & WALKER DEFINED BENEFIT PENSION PLAN, a trust; LINDE MANUFACTURING COMPANY RETIREMENT' PLAN AND TRUST, a trust; DARREL BENSON; WILLIAM S. ORIPMAN; W. GERALD RAINER, M.D.P.C. EMPLOYEES DEFINED BENEFIT PENSION PLAN, a trust; COLORADO CONTAINER CORPORATION EMPLOYEES DEFERRED PROFIT SHARING TRUST, a trust; RICHARD E. SLAUGHTER; RICHARD E. bAMIANO; C. L. PHILLIPS & ASSOCIATES, INC. PROFIT SNARING PLAN, a trust; COLORADO CONTAINER CORPORATION PENSION TRUST, a trust; ROLIE R. KELLEY; BEEBE DRAW CATTLE CO., a Colorado limited partnership; and JAMES M. KADLECEK, as the Public+ Trustee in and for Weld County, Colorado; Defendants. THIS DEED is made June 17, 1994, between ED JORDAN as the Sheriff of the County of Weld, State of Colorado, and REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, grantee, the holder of the certificate of purchase, whose legal address is 4221 Monaco Street, Denver, Colorado 80216. WHEREAS REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, did, in the District Court for the County of Weld, Colorado, obtain a judgment and decree against BEEBE DRAW FARMS, LTD., dated January 14, 1994, directed to the Sheriff of the County of Weld, Colorado; and WHEREAS, by virtue of said judgment and decree, the Sheriff levied upon the property hereinafter described and, after public notice had been given of the time and place of OCT 21 '94 10:00 3035340514 PAGE .002 •Th, B 1447 BBC 02393929 06/17/94 16:25 $70.00 2/014 P 0576 MARY ANN PEUERSTEIN CLERK & RECORDER WILD CO, CO sale as required by law, said property was offered for sale and sold according to said notice, and a certificate of purchase was made and recorded in the office of the County Clerk and Recorder; and WHEREAS, all periods of redemption have expired; NOW, THEREFORE, I, ED JORDAN, Sheriff of the County of Weld, Colorado, in consideration of the premises, confirm the sale and sell and convey to grantee the following described property located in the, County of Weld, State of Colorado, more particularly described in Exhibit A, attached hereto, consisting of twelve (12) pages, incor- porated herein by this reference as though fully set forth, and including all land lying in the bed of any street, road, avenue, alley, stream or river, in front of or adjoining the property; all buildings, structures and improvements now on the property, and all fixtures, equipment, appliances and furnishings attached thereto: all proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards: all the rights (including water rights and shares of water stock), permits hereditaments and appurtenances thereto belonging or in any way appertaining: and all the rents, issues, uses, profits and income from the property. TO HAVE AND TO HOLD the same, with all appurtenances, forever. ED JORDAN, Sheriff of the County of Weld, Colorado STATE OF COLORADO ) ss. COUNTY OF WELD ) oknpwledged before me this /1 day of June, 1994, by /79ARV JDAthARTL as Thqforegoing instrument wa:�jeputy Sheriff of the County ofeld, Colorado. i. ,`,,.: ,.•,Witness my hand and official seal. : ? %04-4-41p. commission expires; /i -& '44 .%„."1) t�V' 0CT 21 •94 10:01 3035340514 PRGE.003 B 1447 RIC 02393929 06/17/94 16:25 $70.00 3/014 P 0577 MARY ANN PEUERSTEIN CLERK A RECORDER WELD CO, CO EXHIBIT A TO SHERIFF'S DEED p A tract of land located in Sections 3, 4 6, 1, 9, 10 15, 16, and 17, Township 3 North, flange 65 Vest of the Sixth Principal Meridian, Veld County, Colorado, being Wire particularly described as follows: Beginning at the Southeast Corner of said Section 16 and considering the South line of said Section l6 to bear S 15" 27' 03" V with all bearings herein being relative thereto; Thence along the South line of said Section H6, f 65' 27' 03' V. 1139.13 foot to the Southeast Corner of said Section 17; • Thence along the South line of said Section 17 Sig' 33' 00' B. 1328.46 feet to the Southwest Corner of said Section 17; Thence along the Vest line of said Section 17. N 00' 29' 67' V. 1219.91 feet to the Northwest Corner of said Section 17; Thence along the Vest line of said Section 8, N 00' 09' 35' M, 1292.31 feet to the Northwest Corner of said Section 3; Thence along the Vest line of said Section 6. M 00. 24' 17' V, 5981.18 feet to the Southwest Corner of the North Self of the Narthwest•Quarter of said Section 1; Thence along the South line of said North Nalf of the Northwest Quarter of Section 1 N 65' 44' 30' 8, 2631.54 feet to the Southeast Corner of the North Half of the Northwest Quarter of said Section 8; Thence along the South line of the Northwest Quarter of the Northeast Quarter of raid Section 1 N 65' 44' 27.' 8, 1331.64 het to the Southeast • Corner of the Northwest Quarter of the Northeast Quarter of said Section iN •— Thence along the fast Use of the Northwest quarter of the Northeast tarter.; of said Section 8 M 00' 31' 12' V. 1325.31 feet to the Northeast Career of the Northwest Quarter of the Northeast Quarter of said Section B; Thence along the North line of said Section 6, N 6S' 40' 33' L. 1333.61 feet to the Northeast Corner of said Section 6; Thence along the North line of said Section 4. N 8S' 3$' 03' t. 1436.45 fast 'So the Point of Intersection of the North line of said Section 4 with the Centerline of the Platte Talley Canal; Page a of 37 • 4 0CT 21 '94 10:02 3035340514 PAGE.004 B 1447 RIC 029 1 0578 MARY OA2NN3PEURRSTEJ IN CLERK & RECORDER04 16:26 �WILD CO,00 / Thence S 40' 04' CO' E. 16.61 feet; Thence along the centerline of the Platte Palley Canal as recorded in look 1061, Reception Mo. 02001616 of the Veld County Records, by the following 15 courses: 1 • $ 10' 09' 07' M, 46.49 feet; 2 • S 27' 01' 47! V, 111.91 feet; 3 • S 35' 02' 43' V. 129.95 feet; 4 - S 46' 24' 2i' V, 113.95 feet; 5 - S 67' 1i' 02' M, 114.41 feet; 6 - 155.51 feet along the arc of a curve to the left. having a central • angle of 41' 14' 52' and i radius of 210.00 feet, and a long chord that bean S 46' 11' 35' Y, 154.76 feet; 7 ► S Z4' 41' 10' V, 39.72 feet; $ • 251.45 feet along the are of a curve to the left, having a central angle of 61' 10' 01' and a radius of 217.23 fat, and a long chard 'that bears $ 09. 21' 54' E, 243.41 feet; ' 9 • S 43. 21' 53. 1, 159.97 feet; 10 . 61.10 feet along the are of a curve to the right, having a central angle of 41' 35 11'. and a radius of $1.11 feet, and a long chord that bears S 1!' 09'• 13' E, 67.43 feet; 11 . SOS' 01' lt' V, 1l.ZO /set;' ' "' ••" —.• .. %.._ _ • 12 • 117.!5 feet slang the arc of a curve to the right, having a central angle of 25' 64' 10', and a radius of 206.90 feet. and a long chord . that bears S 11' 06' 17' V, 116.!5 fast: 13 • S 31' 03' 12' Y, 130.51 feet; 14 - S 09' 40' 40' M, 15.26 feet; 15 • S 03' 11' 43' 5. 116.07 feet; 16 • angle of 36' 50'!the 36'. arc a radius oft 110.24 left, fiend a longnchord that bears $ 231' 17' 01' 1, 112.92 feet; Page 2 of 12 • OCT 21 '94 1003 3035340514 Pfi6E.005 S _ B 1447 ARC 02393929 06/17/94 i6:25 $70.00 5/014 ! 0579 MARY ANN YRUERBTBIN CLERK & RECORDER MELD CO, CO 17 • S 39' 42' Ii' E, 116.67 feet: 15 - 90.93 feet along the art of a curve to the loft, bevies a Central angle of 45'.22 31'. and a radius of 114.62 feet, and a long chord that beers S 61' 23' 34' E, 16.61 feet; 19 • S i6' 04' 50' E, 170.71 feet; 20 . 161.01 feet along the arc of a curve to the right, having a central angle of 61' 29' 30' end a radius of 126.33 feet, and i long chord that bears 3 50' 60' 04' E, 142.11 feet; 21 - S 16' 3S' 19' E, 120.95 feet; 22 • 196.66 feat along the arc of a curve to the right, hiving a Central angle of 25' 3S' 07' and a radius of 440.41 feet, and a long chard that bears S 03' 47' 46' E, 195.04 feet; 23 - S ul' 69' 41' k, 101.24 feet; 24 • 251.82 feet alone the art of a curve to the left. having a central anote of 59' 32' 10', a radius of 242.34 feet, and a long chord that bears S 20' 46' 16' E, 740.64 feet; 25 • $ 5O'.'32' 21' E, 17.59 feet; Thence M $e' 31' 39' E, 2111.76 feet; Thence M 17' 62' 53' V, 340.9i feet; Thence N'$9' 31' 39' 2, 337.17 feet; Thence N 00' 21' 21' Y. 160.00 fat; Thence N 19' 21' 31' E, 1[67.95 fat; Thence S 00' 14! 30' Y, 610.17 feet; Thence S 11' 4/' 21' 1, 71.63 fat; Thence S 12' 41' 39' 1. 29.72 feet; Thence 1 77' 10' 11' V. 30.00 feet; Thence S 12' 41' 43. 2. 30.00 feet; Thence N 77' 10' 1P 1. 30.00 feat: Pegs 3 of 12 OCT 21 '94 10:03 3035340514 PICE.006 411e, R. 1447 EEC 02393929 06/17/94 16:26 670.00 . 6/014 8 0680 NARY ANN PEUERSTEIN CLERK & RECORDER WELD CO, CO s Thence S 12' 49' 56. 1, 14.14 feet: Thence S 11' 28' 26' E. 606.59 feet; Thence S 43' 52' 15' E, 969.19 feet; Thence S 11' 49' 10' E, 159.69 feet; Thence S 60' 06' 36' E, 1097.89 feet; Thence $ 22' 11' 13' E, 1189.07 feet; Thence S 17' 5S' 41' R. 614.01 fest to t point on the north line of a tract of land described is parcel 'A' in Book 1068 under Reception No. 02008614 of the Weld County Records; Thence alone said north line by the following 6 . courses: 1 • S 38' 04' 26" K, 66.71 feet; 2 - S 70' 24' 28' N. 210.50 feet; 3 • N 65' 42' 40" V. 1366.02 feet; 4 - N 44' 46' S0' If, 1115.90 feet; 5 - S 71' 20' 00' If, 138.08 feet;i Thence S 71' 20' 00' V. i40.68 feet; Thence S 43' 34' 00' 1, 318.00 feet; Thence S 16'.14'.00' E, 175.00 feet; Thence S 00' 40' 00" 1, 380.00 feet; Thence S 27' 02' 02' K, 73.00 feet; Thence N 66' 16' 00' W, 155.00 feel; Thence N $6' 09' 00' V, 462.00 feet; Thence K 68' 69' 00' W, 216.00 feet; Thence S 31' 13' 00' N. 248.00 feet; Thence $ $0' 26' 00' M, 194.00 feet; Page 4 of 12 •. .. ... ...' .. .. • • OCT 21 '94 10:04 3035340514 P33E.007 8 1447 ARC 02393929 06/17/94 16:25 $10.00 7/014 p 0561 MARY ANN PE0SRSTEIN CLERK & RECORDER WELD CO. Co Thence N 65' 07' 00' M. 214.12 feet to a point on the east bounder of a tract of land described in Exhibit 'A', loot 1068, Reception No. 02006614 of the Veld County Records; Thence along said east boundary by the following 13 Courses: 1 N 29' 11' 2-N35'35' a-49'49' 4 - k 34' 41' 8-N 40' 48' 6-N72'48' 7 • M 31' 54' a -N17'31' 9 - N 20' 04' 51' V, 43.34 feet; . 04' N. 245.27 feet; 46' M. $2.20 feet; 41• V. 94.87 feet; 08' E, 154.56 feet; 51' E. 101.51 feet; 29' E, 42.13 feet; 32' E. $9.77 feet; 11' V. 110.72 felt; 10 - N 07' 06' 02' Y, 291.21 feet; '11 - N 11' 80' 01' V. 107.21 feet;, 12 - M 33' 54' 04• M. 150.60 feet; 13 - N 07. 02' 17' M, 163.23 feet to a point en the east boundary of a tract of land described in Exhibit '1', loot 1068, Reception No. 02008114 of the Weld County Records; Thence along said east boundary, end alone the northerly and a portion of the westerly boundary of said tract of lend by the followino 56 courses; • • • • • • •.. — • •-•••••.- • 1 • N 36' 47' 25' E, 143.90 fat; 2 - N 57' 06' 34' V, 102.50 foot; 3 - N 65' 59. 14" M, 50.60 fait; 4 - N 69' 22' 13' M. 50.13 feet; 5 • N 71' 52' 35" M. 50.07 feet; 6 • N 74. 30' 37' V, 50.00 feet; 7 - N 77' 01' 49' W, 50.04 feet; Page 6 of 12 • 0CT 21 '94 10:05 3035340514 PAGE.008 B 1447 l 0582 B 02393929 Y;;NN1NURRsTS/16:25 IN CLERK J RRCORDIR•WELD GO, CO •R ••20 • N 38' 44' Section 4; 21 - M 3A' 44' 22 - N 37' 14' S.- N 75' S2' 59' N, 50.19 fteti 9-- N 78' SS' 20' It, 10:17 felt; 10 - N 77' 22' 24! W,•50.05 feet; 11 - N 75' 18' 44' W. 60.00 feet; 12 • N 73' 56' 14' U. 50.01 feet; 13 - 5 75' S9' SA" V, 50.01 feet; 14 • N 78' 03' 33' U, 50.08 foot; 3S • N 77' 491 51' W. 50.07 feet; 16 - N 78' 30' S7' W. 50.10 feet; 17 - N 88' 50' 24' W, 75.38 feet; 18 • N 27' 27' 0J" W, 114.50 feet to a point on the south line of said S;ettion 3; 19 - N 27' 27' 03'M, 64.51 feet; 16' W, 50.00 feet to •a point on tee east line of said 16' W, 20.57 feet; SP W, 50.03 fat; 23 • M 38' 51' O9 K. 24 • M 39' 46' 09' U, 21-N34'18,17"W, n -N 11' 21"41"W, 27 - M 10' 11' 16' N, 28 - M 11'06' 14" U. 29 - N 10' 11' 15' U. 30-N09'43'45'K, 50.00 Alin 50.00 feet; 39.87 feet; 28.76 feet; 100.03 toot; 50.00 feet; $0,01 feet; $0.02 feet; Dage d o2 12 • OCT 21''94 10:05 3035340514 PPOE-009 8 1447 R2C 02393929 06/17/94 16:25 670.00 9/014 P 0583 NARY ANN PSUSRSTSIN CLSRX 8 RECORDER WILD CO, CO 31 - N 09' 16' 16' W, 60.04 feet; 32.- N 11' 47' 29" N, 50.00 foot; 33 - M 15' 27' 06' V. 50.12 feet; 34 - N 17' 02' 45' V, 100.46 feet; 36 - N 65' 04' 22'.11, 3.11 foot: 36 • N 56' 06' 47' V, 66.66 feet; 37 - N 28' 02' 02' V, 24.62 feet; 35 - N 01' 59' 49' E, 64.66 feet; 39 • N 24' 17' 69" V, 51.54 feet; 40 - N 34' 33' 13' V, 60.12 feet; 41 - M a6' 26' 37' V, 60.00 feet; 42 - N 42' 33' 43' V. 10.13 feet;. 43.- N 61' S2' Oa" V, 76.22 feot; .44 - N 51' 17' 02. 1, 139.17 foot; 45 - N 03' 45' 51' V, 390.32 feet: 46 N 7n' 52' 01' V, 116.11 feet; 47 - N 72' 17' 16' V, 122.30 feet; 411- N 56' 39' 25' V, 161.66 foot; - 49 - N 31' 16' 35" V, 1063.67 fast; 50 - 355' 31' 52' M, 57.31 feet; 51 - 3 31' 25' C5" E, 442.16 feet; 52 - 5 30' 42' 10' Is 31.11 fast; 53 • 5 10' 25' 09' E, 63.35 foot; 54 • 66.62 feet along the arc of a curve to the lofts having a central angle of -23" 19' S7', a radios of 168.50 foot, and a long chard that bears south 22',OS' 0$' I.168.14 feet; Page 7 of 13 OCT 21 '94 10:06 3035340514 PAGE.010 8 1447 EEC 02393929 06/17/94 16:25 $70:00 10/014 t' 0584 MARY ANN YEUERSTEIN CLERK & RECORDER WELD OO, CO , 55 - S 33' 45' 06' E. 92.26 feet; 66 - S 38' 27' 03' t. 30.14 feet: Thence S 51' 32' 18' V, 98.00 feet to a point on the west 'mundane); �a tract of land described in Exhibit 'A'. look 1061, 8eeeution Ile. 0200/614 of the.Weld County Records; Thence elms said west boundary by the following 51 courses: 1 - S 00' 23' 32' E. 177.92 feet; 2 - S 10' 11' 17' 1. 78.26 feet; 3 - S 30' 46' 13' 1. 162.46 feet; I'• $ 47' 66' 06' t, 110.45 feet; $ - S 64' 54' sr E, 61.19 feet; 6 - S 33' 41' 24' E. 43.27 fest; 7 - S 63' 27' 44' 1, 60.57 feet; 8 - S 58' 39' t, 58.52 feet; 9 - N 72' 38' 46' V, 16.76 feet; 10 • N 30' 210.85' Y. 39.45 feet; 11 - S 68' 41' 0S' ii, $3.31 feet; . 12 • S 37' 58' 18' V, 52.01 feet; 13 • S 01' 53' 36' M, 121.07 feet; 14 • S 19' 17' 14' W, 63.57 feet; 15 • $ 06' 08' 41' N. 65.18 feet; 16 - S 33' 32' 10. 1. 103.17 feet; 17 • S 56' 05' 51' E. 52.43 feet; 16 • S 76' 52' 47' t, 136.57 feet' 15 • S 67' 47' 47' C. 62.92 feet; •. •. Page $ of 12 OCT 21 '94 10=06 3035348514 Pp:E.011 o 8.1447 RSC 02393929 06/17/94 16125 $70.00 11/014 2 0585 NARY ANN PRURRSTEIN CLERK 8 RECORDER WELD CO, CO 20 - S 31' 54' 29' t, 62.43 feet; 21 - S 12' 12' 02' to 75.71 feet; 22 - S 15' 36' 40' E, 70.60 feet; 23 - S 00' 46' 46' E, 147.01 feet; 24 - S 40' 38' 56' E, 130.48 feet; 25 - S 04' 53' 57' E, 70.26 feet; 26 - S 24' 20' 26' V, 46.10 feet; , 27 - S 13' 34' 14' E, 59.67. feet; 28 - S 35' 26' 24' E. 118.59 feet to a Section 4; 29 - S 35' 24' 24' 30 - $ 49' S9' 37' 31 - S 83' 07' 06'; 32-S65'05'43' 33 - S 58' 24' 46' 34 - S 36' 36' 25' ..._ 35 - S 24%34'.02° 36 - 5 40' 21' 62' E. 17.65 feet; E, 73.11 feet; to 58.42 feet; E. 92.61 feet; E, 69.35 feet; E, 43.60 feet; .E, 32.48.feet: E, 105.00 feet; point on the south line of said 37 - S 63' 26' OP E. 36.45 feet to pint on the east Section 9; 38 - S 63' 26' 06. 2. 37.34 feet; 39 - S 10' 42' 47' E. 112.17 feet; 40 - S 3$' 26' 45' E, 144.84 teet; Pegs 9 02 12 l the of said .. . 0CT 21 '94 1007 3035340514 PHGE.012 II 1447 REC 02393929 06/17/94 16:25 $70.00 12/014 7 0586 NARY ANN PEUERETEUN CURE a RECORDER WELD CO, CO r 41 - $ 62' 48' S5' 1, 145.60 feet; 42 • S 07' 46' 30' E, 100.46 feet; 43 - S 53' 14' 47' E, 98.60 feet; . 44 - S 36' 35' 26' E. 82.20 feet; ' 45 • S 26' 18' 03'.E. 69.06 feet; 46 - $ 52' 31' 26' N, 37.00 feet; 47 • S 30' 03' 16' W, 183.70 feet; 48 • $ 04' 68' 11'E. 46.17 feet; 49 - $ 25' 58' 28' V. 86.76 feet; 60 • S 06'. O3' ::' E, 66.37 feet; 61 - S 25' 61' S9' E. 110.02 feet; 62 • S 07' 26' 51'.6. 99.85 feet; 63 - S 31' 16' 29' E, 157.95 feet; 54 - S 16' 26' O6' E. 139.14 feet; 5S • S 40' 20' 46' E, 322.02 feet; 56 - S 24' 26' 38' E, 48.33 feet; -t = 3 04' 21' 25'tC, 106.30 feet=. 66 • b 29' 30' 41' E. 174.36 feet to a point en the east Rivalry of e tract of land described in loot 1068, Reception N. 02008615 of the Veld County Records; 'Mace along sold oast boundary by the Volleying $ courses:, . 1 - 5 37' 11' 26' E, 96.99 feet; : - $ 52' 03' 11' t, $9.68 feet; 3 • 5 61" 31' 11* E. 148.69 feet; 4 - $ 1R' 11' 37" E. 13n.93 fat; Page 10 of 12 OCT 21 '94 1008 3035340514 PHGE.013 8 1447 RBC 02393929 06/17/94 16:25 $70.00 13/014 F 0587 MARY ANN IRUERBTBIN CLERK & RECORDER MELD CO, CO 5 - S 42' 52' 31' E, 117.69 feet; 6 - S 25' 09' 42• C, 44.21 feet; Thence S 2S' O9' 41' t, 106.90 feet; Thence $ 24' 47' 31' E, 160.70 feet; Thence $ 36' 13' S9'.E, 116.03 feet; Thence S 25' O6' 23' W, 111.15 feet; Thence S 02' 01' SS' t, 227.19 feet; Thence $ 27' 01' 04' E, 91.92 feet; Thence S 13' 36' 45' 1, 101.11 feet; Thence S 24' 32' 47' E. 116.37 feet;. Thence S C6' 37' 27' t, 234.27 feet; Thence S.07'.01: 43".11. 151,41 feet; Thence 3 14' 47' 42' N, 113.31 feet; Thence S OS' 07' 42' V, 157.19 feet; Thence S 17' 50' 26' B, 90.47 feet; Thence S 42' 16' 14' V, 134.52 feet; thence $ 19' 19' 41' V, 265.66 feet; ' Thence S 30' 21' 06' w. 154.39 Teat; at. . : • Thence 3.61' 40' 66' M, 105.15 feet; Thence S 79' 43' 10' M, 714.61 feet; thence S 24' 62' 12' Y. 224.67 feet; Thence S 07' 13' 57' S. 10.72 feet to point en the WO Line of said Section 16; Thence atenp said North tine of Section 1S B 69' 26' 21' 1, 64.09 feet; 'rheas S 00' 41' 51' E. 5264.17 feet to a point on the South Line of said Section 15; 1. Page 11 St 12 i rt 21 ' Qd 1 PI PR .w.s`..S4RS14 PFlGE.014 • 1447 inic D05/17/94 15:25 F 0588 MARY ANS NoniRnsINCLERKaRRCORpNR`WILD COO, C1WILD cO, oo thence along said South line of said Section 19 "519•41`36•M, 151.01 feet to the TAUS POINT or 'WINNING; incluud�sLiippn�lUthat portion thereof platted as Suit DAM TARNS AND ZOOZITAiaoCENTER, tiail l2 PILNOlunder derkRevi2 dsFlat and DedReception No. 2137453, together with the rights of Grantor as Purchase? under Certificate of Purchase No. S-571 with The State of Colorado dated Nay 21, 1914 and recorded July 36, 1914• 4 in look 1038 as Reception No. 0197545$, as to section 16. Township 3 North, Range 65 Nest of the Sixth Principal Meridian, Veld County, Colorado. •as evidenced by assignment recorded August 16, 1988 in Book 1205 as Reception No. 02151603 in the records of Weld County, Colorado Page 12 of 12 0CT 21 '94. 1009 3035340514 PAGE.015 January 1994 PETITION FOR INCLUSION OF LANDS IN NORTHERN COLORADO WATER CONSERVANCY DISTRICT TO THE BOARD OF DIRECTORS OF NORTHERN COLORADO WATER CONSERVANCY DISTRICT 1. All the owner(s) of lands situated in the County of Weld : State of Colorado, hereby petition(s) and pray(s) that the lands hereinafter described be included in said Northern Colorado Water Conservancy District ("Districts. 2. The description of the lands owned by the Petitioner(s) is as follows: •t PETITIONER REI Limited Liability Company, dba Investors Limited Liability Carpany • IF SIVMD Ot M1a11.W(TS FORMS 5400 DESCRIPTION See Exhibit A to Sheriff's Deed attached hereto as Exhibit I, except for that land described therein under Certificate of Purchase No. S-571 in Section 16, T wnship 3 North, Range 65 West (owned by the State of Colorado) SEC.TWP.RQE. ACRES Sections 3, 4, 5, 3,442 8, 9, 10, 15 and 17, 2bwnship 3 North, Range 65 West TOTAL ACRES INCLUDED CURRENT ASSESSED VALUATION OF LANDS TO BE INCLUDED AMOUNT OF INCLUSION FEE ENCLOSED 3,442 $ 18,340 $ 235 • • 3. A plat of the above described property is attached hereto as Appendix "C." 4. All the owner(s) of the above described property hereby agree(s) to pay to the District an amount which is equal to the ad valorem taxes which would have been paid to the District by the owners of the above described lands if said lands had been included within the boundaries of the District at the time of its creation. This amount will be calculated in accordance with the policy of the District, a copy of which is attached as Appendix "B." 5. All the owner(s) of the above described property and their heirs, successors, and assigns hereby agree to be bound by the Water Conservancy Act, C.RS. § 37-45-101 et. seq., as amended from time to time, and all rules, regulations, and policies of the District as amended or changed from time to time. 6. All of the owner(s) of the above described property hereby agree(s) that inclusion of the above described lands into the District is conditioned on present and future payment of the same mill levies and special assessments as are levied or will be levied on other similarly situated property in the District at the time of inclusion of the Petttioner(s) lands. If such payments are not made on such equal basis, the inclusion of the lands can be terminated for non-compliance with this condition If payments are not otherwise made. 7. All the owner(s) of the above described property have executed Appendix "A" attached hereto. THIS PETITION INCLUDING APPENDIX "A" MUST BE SIGNED BY ALL OF THE OWNERS OF THE ABOVE DESCRIBED PROPERTY TITLE (If in relation to a Partnership or a Corporation) Manager STATE OF COLORADO ) )ss County ofTe4(ersnn ADDRESS Investors Limited Liability ComPanY 4221 Nbnaco Street Denver, Colorado 80216 The foregoing instrument was acknowledged 1'_before me this si day of A.D. 19_9_4,K �1 ¢, by ` !CU e. F� 3 , Manager of REI Limited Liability Company, a lcming limited liability oornpany, doing business in Colorado as Investors Limited f. ab•ility Company/, Witness my hand and Seal. My commission expires: 1:,% h 0 /q t November Notary Public rvmwwm I Auonewn Nitta ..00 2 STATE OF COLORADO )as County of The foregoing instrument was acknowledged before me this day of A.D. 19_, by Witness my hand and Seal. My commission expires: Notary Public STATE OF COLORADO )ss County. of The foregoing instrument was acknowledged before me this day of A.D. 19 , by Witness my hand and Seal. My commission expires: Notary Public STATE OF COLORADO ) 1ss County of ) The foregoing instrument was acknowledged before me this day of A.D. 19_. by Witness my hand and Seal. My commission expires: Notary Public MOUND & AI TMrn9 !ORM% 44130 3 APPENDIX "A" Purpose The purpose of this covenant Is to subject Petitioner's property, described in the petition for Inclusion and court order for inclusion, to the same mill levies and special assessments as are levied or will be levied on other similarly situated property in the Northern Colorado Water Conservancy District ("District") at the time of inclusion of Petitioner's lands. Waiver Petitioner hereby waives any right which may exist to require an election pursuant to article X, § 20 of the Colorado Constitution before the District can impose the mill levies and special assessments specified below. Petitioner also waives any right which may exist to a refund pursuant to article X, § 20 of the Colorado Constitution. Mill Levies and Special Assessments Upon inclusion into the District, and as an express condition thereof, Petitioner covenants to pay the following mill levies and special assessments: 1. Any Class A mill levy or special assessment levied annually by the District and Imposed on other similarly situated property within the District. 2. If Petitioner's property is now or is in the future located within a municipality which has an existing or future Class B Allotment of water by the District, and if said municipality defaults on payment of its obligations under any existing or future Class B allotment contract(s) with the District Petitioner agrees to pay any special assessment levied by the Board of Directors of the District for the purpose of collecting amounts due under the allotment contract(s). 3. Any amount due under any existing or future Class D allotment contract on Petitioner's property. Covenant to Run with the Lane) This covenant will run with and burden the property described in the petition for inclusion and court order for inclusion and binds all future owners of the property. ALL OWNERS OF THE ABOVE DESCRIBED PROPERTY MUST SIGN THIS APPENDIX "A." DATE °NATURES' ADDRESS MERANO • AunrMPMB 'QI Atl 1400 Investors Limited r.iabi1ity Cos any 4221 Nbnaoo Street Denver, Colorado 80216 APPENDIX' B" NORTHERN COLORADO WATER CONSERVANCY DISTRICT RESOLUTION D-941-02-94 NORTHERN COLORADO WATER CONSERVANCY DISTRICT COLORADO•BIO THOMPSON FACILITIES INCLUSION FEE WHEREAS, the inclusion of lands into the Northern Colorado Water Conservancy District (District) makes those lands eligible to receive water from the Colorado -Big Thompson (C -BT) Project facilities; and WHEREAS, those lands and allottees of water originally included within the District commencing in 1938 have contributed to the coat of construction repayment, operation. maintenance, replacement and administration of the C -BT Project; and WHEREAS, a fee is necessary to place newly included lands and their eligibility for water from ?he C -BT Project facilities on the same basis as those lands originally included within the District. NOW, THEREFORE LET IT BE RESOLVED that: A fee shall be charged in connection with the inclusion of lands into the District for the purpose of placing such lands on an equal basis as lands originally included within the District. Such fee shall be collected on behalf of and deposited to the Colorado -Big Thompson Water Activity Enterprise Fund. This fee shall be calculated as follows: The sum of the historical (1937 to current year) ad valorem tax revenues received by the District from Larimer. Weld. and Boulder Counties divided by the current assessed valuation of the District lying within those same Counties times the current assessed valuation of the property to be included. Example: Revenues From 3 Counties To Date x Current Valuation of Current Valuations of District Property To Be Included Within 3 Counties For Calendar Year 1993 $ 48.388.184 x Current Valuation of Property $ 3.788,268,060 or 0.0128 x Current Valuation of Property The ratio determined above will be recomputed annually by the District and will be made available upon request. It will be the responsibility of the petitioner to furnish the current assessed valuation of the property involved at the time the petition for inclusion is submitted to the District. Satisfactory arrangements for payment of fees must be made with the District before the inclusion will be approved by the Board of Directors. iwwiueu •,wanes FORM „00 • EXHIBIT E (DEVELOPER FEE AGREEMENT] DEVELOPER FEE AND WATER TAP FEE AGREEMENT THIS DEVELOPER FEE AND WATER TAP FEE AGREEMENT is made as of this g}h day of bfltM bCV, 1998, between BEEBE DRAW FARMS METROPOLITAN DISTRICT, hereinafter referred to as "District", a quasi -municipal corporation and political subdivision of the State of Colorado duly organized and acting pursuant to the provisions of Article 1, Title 32, C.R.S., and REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company doing business in Colorado as Pelican Lake Ranch and Investors Limited Liability Company, hereinafter referred to as "Developer". RECITALS A. The District was organized to provide water, streets, drainage and safety protection, and parks and recreational services and facilities within its service area; and B. The Developer is the fee owner of certain real property, hereinafter referred to as "Development", situate within the District and which requires services and facilities from the District prior to the development and sale thereof; and C. In order to provide adequate services and facilities to the Development and to other property within the District, it is necessary to acquire a water supply and to construct a water distribution system, streets, drainage and safety protection facilities, and parks and recreational and related facilities, hereinafter referred to as "Facilities"; and D. The Developer wishes to participate in funding the costs of the Facilities, which will assist in making services and facilities available to all property within the District; and E. Without such participation, the District would not acquire or construct the Facilities, which will benefit all property within the District; and F. In order to complete the acquisition and installation of the Facilities, the District will, from time to time, enter 9DMMIEVA WTAM Milli 11111 lillll Ilil 11111 0011111111 IU 11111 illl Ilrl 1061476 11/16/1666 01z34r Mold County Ca 140 17 R 86.000 0.00 JA Saki Tsuksmoto • into agreements to construct and borrow funds in the amounts needed to finance the costs of the Facilities, subject to all. terms and conditions hereinafter set forth, and the Developer agrees to pay developer fees and water tap fees for its property within the Development, which will generate revenue to the District to fund the costs of the Facilities, including costs of financing; and G. The completion of the Facilities will enhance the value of the Development and other property within the District and will serve a public use, and the mutual obligations and benefits created hereunder will promote the health, safety, prosperity, security and general welfare of the inhabitants and property owners within the District. AGREEMENT In consideration of the mutual covenants, agreements, conditions and undertakings hereinafter specified, the District and Developer agree as follows: ART7,CLF I Section 1. Definitions. For -all purposes hereunder, unless the context indicates otherwise, the terms defined in this Section 1 shall have the meanings set forth below:. a. "Agreement" means this Developer Fee and Water Tap Fee Agreement and any exhibit or amendment hereto. b. "Board" means the duly constituted Board of Directors of the District. c. "Bonds" means any bond, note, or other obligation of the District. d. "Developer" means the REI Limited Liability Company, a Wyoming limited liability company doing business in Colorado as Pelican Lake Ranch and Investors Limited Liability Company, or its successor, transferee, or assign. 11111111111111111111111111 111111111111 III 11111 IIII 1111 2 of417 ft 56.000 De 0.00340 Nluk! Ysuukamoto e. "Developer Fee" means the fee to be paid to the District in accordance with the provisions of Article II, Section 2 of the Agreement. f. "Development" means the Beebe Draw Farms and Equestrian Center according to the POD Master Plan recorded on December 21, 1984 in Book 1053 as Reception No. R-1992773 (File 3821; Envelope 2306) of the Weld County, Colorado, Clerk and Recorder, including all filings and subdivisions thereof and any amendment or replatting thereto, as more specifically described in Exhibit A attached hereto and incorporated herein by reference. g. "District" means the Beebe Draw. Farms Metropolitan District, or its successor, transferee, or assign. h. ."Facilities" means the water supply and water distribution system, streets, drainage, and safety protection facilities, parks and recreational facilities, and other facilities and improvements acquired, installed or financed by the District. i. "Fees" means the Developer Fee and Water Tap Fee. j. "Lien" means the lien established and referred to in Article II, Section 6 of the Agreement. k. "Lot" means any platted lot in the Development. 1. "Resolution" means any resolution designated by the Board of the District authorizing the sale and establishing the terms and conditions of the Bonds. m. "Water. Provider" means the Central Weld County Water District, a Colorado special district situate in Weld County, Colorado, which supplies treated water to, and operates the public water distribution system within the District in accordance with an intergovernmental agreement. n. "Water Tap Fee" means the fee to be paid to the Water Provider for the District in accordance with. the provisions of"Article II, Section 3 of the Agreement. 111111111111111111 IIII11111.11111111111111111111IIII IIII 2!1147! 12/1$/1N8 1tia4 Old County CO • Section 2. Snnnrryrti n. For all purposes hereunder, unless the context indicates otherwise, the Agreement shall be construed as follows: a. All definitions, terms and words shall include both the singular and the plural. b. Pronouns shall include both the singular and the plural and shall cover both genders. c. Whenever "shall" is used herein, it shall be construed as mandatory; "may" denotes that it is permissible but not mandatory. ARTICLE II Section 1. Developer makes the following warranties to the District: representations, a. The Developer is the fee owner within the Development and has good, indefeasible title to all property within subject to exceptions of record. b. The Developer has the full right, power and authority to enter into, perform and observe the Agreement, including the specific authority to encumber all property within the Development. :ntat jons . The covenants and of all property marketable and the Development, c. Neither the execution of the Agreement, the consummation of the transactions contemplated hereunder, nor the fulfillment of or the compliance with the terms and conditions of the Agreement by Developer will conflict with or result in a breach of any terms, conditions or provisions of, or constitute a default under, or result in the imposition of any prohibited lien, charge or encumbrance of any nature under any agreement, instrument, indenture, judgment, order or decree of any court to which the Developer is a party or by which the Developer or the property within the Development are bound. 111111111111111111 IIII Iilll IIIII Ilillll III 11111 IIII IIII 1001470 12/10/1000 01i34P Nsld County CC 4 e1 17 R 00.00 D 0.00 JA fukl Tsuknoto d. The 'Developer agrees that all Developer Fees and Water Tap Fees will be paid in accordance with the provisions of this Agreement and that it shall keep and perform all of the covenants and agreements contained herein. e. The Developer may be held liable for any loss suffered by the District as a consequence of any misrepresentation under subsections a., b. and c. of this Section 1. Section 2. neveinper Pee. A Developer Fee shall be paid to the District by the Developer on or before the date of transfer and/or sale of each Lot. The Developer Fee shall be payable in the amount of $15,500 per Lot during the 1998 and 1999 fiscal years. For subsequent fiscal years, the Board may, from time to time, increase the amount of the Developer Fee as necessary to fund the actual costs of the Facilities, including costs of financing. The Developer agrees to pay Developer Fees for thirty-two (32) Lots in the 1st Phase of the First Filing of the Development on or before the following dates: (i) for ten (10) Lots by December 31, 1999; (ii) for another eleven (11) Lots by December 31, 2000; and (iii) for another eleven (11) Lots by December 31, 2001. If necessary to secure financing for the costs of Facilities needed to serve other phases of the Development, the District and Developer shall agree to a specific schedule of payments of Developer Fees for such phase of development prior to the commencement of construction. activities by the District. Section 3. Water Tap Pee. A Water Tap Fee shall be paid by the owner of the Lot to the Water Provider for the District on or before the date of application for water service to each Lot, or as otherwise provided in the rules and regulations of the Water Provider. The Water Tap Fee shall be payable in the amount of $4,400 per Lot during the 1998 and 1999 fiscal years. For subsequent fiscal years, the Board may, from time to time, increase the amount of the Water Tap Fee as necessary to fund the actual costs of acquiring a water supply for the Development. The Water Tap Fee shall be paid in addition to all other rates, fees and charges of the Water Provider. Nothing set forth in the Agreement shall be construed to discharge the Developer or owner of any Lot from paying any rate, fee or charge imposed by the Water Provider for water service. aiminunitmitI'i'iI0witIII!'rniiiIi1I 5 of 17R 51.00 D 0.00 JR Sukt T:11kaooto Section 4. MSj-iod of Payment and Use of Fea-. Fees shall be payable in cash or certified funds. Fees paid or remitted to the District may, in the Board's discretion, be applied to pay the costs of the Facilities or any outstanding debt of the District. Section 5. Unconditional Obligation. Upon execution of the Agreement by Developer, the obligation of Developer to pay, or cause to be paid, the Fees shall be absolute and unconditional, shall be binding and enforceable in all circumstances, and shall not be subject to setoff or counterclaim. Without in any way limiting the generality of the foregoing, such obligation shall not be affected by the exercise of any remedy hereunder by the District, termination of the Agreement, diminution of any of Developer's rights hereunder by judicial decree, legislative enactment or otherwise, failure of consideration, condemnation, or inability or'failure of the District or Developer to perform any obligation hereunder. Section 6. Lien. Fees payable with respect to each Lot, together with any interest thereon and costs to collect Fees, including reasonable attorneys' fees, shall, until paid, constitute a statutory lien against such Lot. In the event of non-payment of any Fees for any Lot, the Lien against such Lot may, in the Board's discretion, (i) be certified to the County Treasurer for collection as a delinquent fee for water services in accordance with the provisions of Section 32-1-1101(1)(e), C.R.S., or (ii) be foreclosed in the manner specified in Section 32-1-i00l(1)(j), C.R.S., which the Developer hereby acknowledges and ratifies as being applicable. The District shall record the Agreement, and the Agreement shall constitute a statement of lien against each Lot within the Development, until paid and released in accordance with the terms of the Agreement. Section 7. gelease of Lien. The District shall release the Lien against any Lot upon payment in full of the Fees payable on such Lot, together with any interest and costs secured by such Lien. Payment in full may occur either (i) with the making of the applicable payment to the District by the Developer or owner of such Lot or by the holder of a lien affecting such Lot, or (ii) upon designation of a sufficient amount of unallocated Fees to a specific Lot pursuant to Section 8 below. 1111101111111110 I U 111111111111111111111 I I I I 11111 I I I I 6 2001470 12110/INS 01z24P Nold Caunly CO 0 of 17 R 00.00 0 0.00 JA Suk! Taukamo0o • • Section 8. DeSignarinn of Payment of Fees. When Fees are paid to the District, the payer (whether the Developer or another person) shall designate to the District in writing whether the amounts paid are to be allocated to one or more specific Lots. Amounts which are allocated to specific Lots shall be entitled to a release of Lien as set forth in Section 7 above. Amounts which are not allocated to specific Lots shall be credited on the District's records as unallocated Fees. The Developer or such other payer may by written notice to the District subsequently designate specific Lots for which all or any portion of the unallocated Fees are to be applied; upon such notification, a release of Lien shall be issued pursuant to section 7 above. Section 9. Default. The occurrence of any of the following events shall constitute an event of default under this Agreement: a. Any material misrepresentation under subparagraph a., b. or c. of Section 1, Article II of this Agreement; b. Any breach by Developer of the covenant contained in subparagraph d. of Section 1, Article II of this Agreement, unless cured within thirty (30) days of notice to Developer; or c. With respect to any individual Lot, any breach of the provisions of Sections 2 or 3, Article II of this Agreement, unless cured within thirty (30) days of notice to Developer and, if the name and address of the owner of such Lot has been provided to the District, to the owner of such Lot. An event of default which occurs under subsection (c) of this Section 9 shall constitute a default only for the Fees owing with respect to the affected Lot; any other event of default shall constitute a default with respect to all unpaid Fees. Notice of any default shall be provided to any lender specified in Section 8, Article III of this Agreement,and such lender may cure any default hereunder by payment in full of all amounts then due and payable within fifteen (15) days after written notice of such default has been given by District to such lender. 1111111111111111)1 I I I I1111111111111111 J11)1110 1111111111 2001470 12/10 SN0 01s34T Mald county CO 7 of 17 R 00.00 D 0.00 JR Suk! Tsukamoto Section 10. Remedies Upon Default. Upon the occurrence of any event of default hereunder with respect to any Fees, interest on such defaulted Fees shall accrue at the rate of twelve percent (12%) per annum, and the District shall have the following rights and remedies: (a) to declare by written notice any or all of such defaulted Fees immediately due and payable in full; (b) to collect or foreclose the Lien against the Lot for which the Fees are in default; or (c) to exercise any other right or remedy available to the District under this Agreement or permitted by law. The District shall be entitled to recover its costs and expenses, including reasonable attorneys' fees, in connection with any enforcement action, and such costs and expenses shall be secured by the Lien against the Lot to which such costs and expenses are allocable. ARTICLE LIT Section 1. Nature of Covenants. The covenants, obligations, terms, conditions and provisions set forth in the Agreement shall be construed as and, during the term of the Agreement, remain covenants running with and burdening all Lots and other property within the Development. Section 2. Pond Resolution. The Agreement shall be subject to the Resolution. Any provision of the Agreement in conflict with the Resolution shall be deemed to be superseded by the provisions of the Resolution. Section 3. $ffective Data. The Agreement shall be in full force and effect and be legally binding upon each party at the time of execution by all parties hereto. Prior to approval of the Agreement by the District, the Developer shall not rescind his approval of the Agreement without the written consent of the District. Each party agrees to approve, adopt and execute any and all instruments, documents and resolutions necessary to effectuate the covenants, terms, conditions and provisions contained herein. Section 4. Term. The Agreement shall remain in effect until all Fees have been paid in full. Section 5. Punnibssnrs and Assigns. The Agreement, including any right to release of Liens hereunder, shall be assignable in huh 11111111111101 III11111111111111III111111111VIII 2001470 12/10/1090 01:30 Wild County CO 8 of 17 R 05.00 D 0.50 JA Suki Touksmolo whole or in part. In the event thereof, all covenants, obligations, terms, conditions and provisions contained herein and all amendments of the Agreement shall inure to and be binding upon the heirs, personal representatives, transferees, successors and assigns of the parties hereto. Section 6. Remedies. The remedies provided to the District hereunder are cumulative and are not intended to be exclusive of any other remedy to which the District may be lawfully entitled. None of the remedies provided to either party under the Agreement shall be required to be exhausted or exercised as a prerequisite to resort to any further relief to which it may then be entitled. Every obligation assumed by or imposed upon either party hereto shall be enforceable by any appropriate action, petition or proceeding at law or in equity. In addition to any other remedy provided by law, this Agreement shall be specifically enforceable. The Agreement shall be construed in accordance with the laws of the State of Colorado, and in particular Article 1, Title 32, C.R.S. All times stated herein are of the essence. Section 7. Waiver. No waiver by either party of any covenant, term, condition or agreement contained herein shall be deemed or construed as a waiver of any other covenant, term, condition or agreement, nor shall a waiver of any breach hereof be deemed to constitute a waiver of any subsequent breach, whether of the same or of a different provision of the Agreement. Section 8. Notices. All notices provided under the Agreement shall be in writing and shall be hand delivered or sent by certified mail, return receipt requested, to the following addresses: District: Developer: Beebe Draw Farms Metropolitan District 11409 West 17th Place Lakewood, Colorado 80215 Investors Limited Liability Company 4221 Monaco Street Denver, Colorado 80216 In addition to the notice provided to Developer, the District shall also provide a copy of such notice to any lender of Developer previously certified to District. Either party by 1111111 0111 111111 III! 1111! 0111 1111111 III 0111 IIII Ill 2001470 !?/10/!000 01:34 Wald County CC 9 of 17 R 00.00 D 0.00 JA Suki Taukamoto written notice so provided may change the address to which future notices shall be sent. All notices shall be considered effective when mailed. Section 9. $everabiltty. If any covenant, term, condition or provision under the Agreement shall, for any reason, be held to be invalid or unenforceable, the invalidity or unenforce- ability of such covenant, term, condition or provision shall not affect any other provision contained herein. Section 10. Counterpart_R. The Agreement may be executed in multiple counterparts, each of which shall constitute an original, but all of which shall constitute one and the same document. Section 11. Amendment. The Agreement may be amended from time to time by agreement between the parties hereto. No amendment, modification or alteration of the Agreement shall (i) be binding upon the District or the Developer unless the same is in writing and duly executed by the parties hereto; (ii) be made in conflict with the Resolution; or (iii) adversely affect the owner of a Lot or the holder of a lien against a Lot without the written consent of such person. IN WITNESS WHEREOF, the District and Developer have executed this Agreement on the date and year hereinabove stated. BEEBE DRAW FARMS METROPOLITAN DISTRICT ATTEST: � rat aiy % % %(n p 111111111111111111111111111111111111111III111111IIItill 2881470 12/10/1010 01:34r Wald County CO 20 of 17 R 00.00 D 0.88 JA Suk1 7aukamato 10 STATE OF COLORADO COUNTY OF „Tecterbo The foregoin Agreement was acknowledged day of ' t o.1 , 1911, by James ^'Fel l :rAmmidL1-504tv,. as Secretary of Beebe Draw District. Witness my hand and official s My commission expires: '.... • (1 a --G=o „\, UoLAra is ,t/' STATE OF COLORADO COUNTY OF .le c w5 before me this bT~ as President and Farms Metropolitan REI LIMITED LIABILITY COMPANY, d/b/a Pelican Lake Ranch and Investors Limited Liability Company By: 4'. Manager he foregoing Agreement wa acknowle ed before me this // *j day of lec en6 4t_ , 19,x, by Ko ((; e , Manager of REI LIMITED LIABILITY COMPANY, d/b/a in Colorado as Pelican Lake Ranch and Investors Limited Liability Company. Witness my hand and official seal. My commission expires: IIIHI11111111111111111111111111111111111111111 III 1111 2001470 12/18/1010 01$34P Mold County CO 11 0/ 17 R 50.00 D 0.00 JA Suk.l Taukamoto Notary Public 01100301 550 EL Wedreettliftd. Utir ocd,Ce M f 11111111111! II111I 11111111111111 liltIII 111111 III IIII 2881476 1 /18/1988 0134P Nold County CO 12 of 17 R 86.00 0 0.00 JP Solo Taukaaote HIBITA • Legal Description of a parcel of land being located in Sections 3, 4, 6, 8, 9,10,16,16 and 17, Township 3 North, Range 65 West of the 6th Principal Meridian, Weld County, Colorado being more particularlydescribed as follows: Beginning at the Southeast Corner of said Section 16 and considering the South line of said Section 16 as bearing South 89°27'00" West and with all bearings contained herein relative thereto; thence along said South line South 89°27'00" West 6188.86 feet to the Southeast Corner of said Section 17; thence along the South line of said Section 17 South 89°32'66" West 5327.95 feet to the Southwest Corner of said Section 17; thence along the West line of said Section 17 North 00°29'63" West 5259.39 feet to the Northwest Corner of said Section 17; thence along the West line of said Section 8 North 00°09'44" West 6281.77 feet to the Northwest Corner of said Section 8; thence along the West line of the Southwest Quarter of said Section 6 North 00x26'29" West 2654.03 feet to the West Quatter Corner of said Section 5; thence along the West line of the Northwest Quarter of said Section 5 North 00°24'36" West 1327.22 feet to the Southwest Corner of the North half of the Northwest Quarter of said Section 5; thence along the South line of the North half of the Northwest Quarter of said Section 5 North 89°44'12" East 2631.31 feet to the Southeast Corner of the North half of the Northwest Quarter of said Section 6; thence along the South line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 89°44'12" East 1381.58 feet to the Southeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 6; thence along the East line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 00°39'07" West 1826.38 feet to the Northeast Corner of the Northwest Quarter of• the Northeast Quarter of said Section 6; thence along the North line of the Northeast Quarter of said Section 5 North 89°89'32" East 1333.17 feet to the Northeast Corner of said Section 5; thence Along the North line of the Northwest Quarter of said Section 4 North 89°45'34" East 2638.09 feet to the North Quarter Corner of said Section 4; thence along the North line of the Northeast Quarter of said Section 4 North 89°24'21"East 806.01 feet; thence departing said North line South 40°04'03" East 9.61 feet to the centerline of the Platte Valley Canal as recorded in Book 1068 under Reception No. 02008616, records of said County; thence along said centerline the following 25 courses and distances; South 10°08'07" West 46.49 feet; thence South 27°01'4'r West 281.98 feet; thence South 36°02'43" West 129.96 feet; thence South 46°24'26" West 118.96 feet; thence South 67°56'02" West 114.41 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 43°14'62" and a radius of 210.00 feet; thence Southwesterly along the arc of said curve 168.61 feet to the end of said curve; thence tangent from said end of curve South 24°41'10" West 89.72 feet to the beginning of a tangent curve concave to the East having a central angle of 68°10'08" and a radius of 217.23 feet; thence Southeasterly along the arc of said curve 268.46 feet to the end of said curve; thence tangent from said end of curve South 43°28'58" East 159.97 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 48°38'11" • 11111l11111111111IIU111111111!1111111III111111�I�IIII 2001479 12/10/1990 0144P Weld County CO 13 of 17 R 96.00 D 0.00 JA Suki Teukeaoto • Legal Description of a parcel of land being located in Sections 3, 4, 6, 8, 9,10,16,16 and 17, Township 3 North, Range 65 West of the 6th Principal Meridian, Weld County, Colorado being more particularlydescribed as follows: Beginning at the Southeast Corner of said Section 16 and considering the South line of said Section 16 as bearing South 89°27'00" West and with all bearings contained herein relative thereto; thence along said South line South 89°27'00" West 5138.65 feet to the Southeast Corner of said Section 17; thence along the South line of said Section 17 South 89°32'56" West 5327.95 feet to the Southwest Corner of said Section 17; thence along the West line of said Section 17 North 00°29'63" West 5259.39 feet to the Northwest Corner of said Section 17; thence along the West line of said Section 8 North 00°09'44" West 5291.77 feet to the Northwest Corner of said Section 8; thence along the West line of the Southwest Quarter of said Section 5 North 00°26'29" West 2664.03 feet to the West Quarter Corner of said Section 5; thence along the West line of the Northwest Quarter of said Section 5 North 00°24'36" West 1327.22 feet to the Southwest Corner of the North half of the Northwest Quarter of said Section 5; thence along the South line of the North half of the Northwest Quarter of said Section 6 North 89°44'12" East 2631.31 feet to the Southeast Corner of the North half of the Northwest Quarter of said Section 5; thence along the South line of the Northwest Quarter of the Northeast Quarter of said Section 6 North 89°44'12" East 1331.68 feet to the Southeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the East line of the Northwest Quarter of the Northeast Quarter of said Section 6 North 00°39'07" West 1325.38 feet to the Northeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 6; thence along the North line of the Northeast Quarter of said Section 5 North 89°39'32" East 1333.17 feet to the Northeast Corner of said Section 5; thence along the North line of the Northwest Quarter of said Section 4 North 89°45'34" East 2838.09 feet to the North Quarter Corner of said Section 4; thence along the North line of the Northeast Quarter of said Section 4 North 89°24'21" East 805.01 feet; thence departing said North line South 40°04'08" East 9.61 feet to the centerline of the Platte Valley Canal as recorded in Book 1068 under Reception No. 02008616, records of said County; thence along said centerline the following 25 courses and distances; South 10°09'07" West 45.49 feet; thence South 27°01'47" West 281.98 feet; thence South 35°02'43" West 129.95 feet; thence South 46°24'26" West 113.95 feet; thence South 67°56'02" West 114.41 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 43°14'62" and a radius of 210.00 feet; thence Southwesterly along the arc of said curve 168.61 feet to the end of said curve; thence tangent from said end of curve South 24°41'10" West 39.72 feet to the beginning of a tangent curve concave to the East having a central angle of 68°10'08" and a radius of 217.23 feet; thence Southeasterly along the arc of said curve 268.46 feet to the end of said curve; thence tangent from said end of curve South 43°28'58" East 159.97 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 48°38'11" f 111111111111111111II! 11111111111111111111111 III IIII 2001470 12/10/1998 01:34P Meta County CO 14 of 17 R 80.00 D 0.00 JR Suitt Tsukasote and a radius of 81.88 feet; thence Southerly along the arc of said curve 69.51 feet to the end of said curve; thence tangent from said end of curve South 06°09'12" West 19.20 feet to the beginning of a tangent curve concave to the Northwest having a central angle of 25°54'10" and a radius of 260.90 feet; thence Southwesterly along the arc of said curve 117.96 feet to the end of said curve; thence tangent from said end of curve South 31°03'22" West 130.58 feet; thence South 09°40'40" West 95.26 feet; thence South 03°11'43" East 116.07 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 36°30'36" and a radius of 180.24 feet; thence Southeasterly along the arc of said curve 114.85 feet to the end of said curve; thence tangent from said end of curve South 39°42'19" East 116.57 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 46°22'31" and a radius of 114.82 feet; thence Southeasterly along the arc of said curve 90.93 feet to the end of said curve; thence tangent from said end of curve South 85°04'50" East 170.71 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 68°29'30" and a radius of 126.33 feet; thence Southeasterly along the arc of said curve 151.02 feet to the end of said curve; thence tangent from said end of curve South 18°35'20" East 120.95 feet to the beginning of a tangent curve concave to the West having a central angle of 25°35'07" and a radius of 440.41 feet; thence Southerly along the arc of said curve 196.66 feet to the end of said curve; thence tangent froth said end of curve South 08°59'48" West 101.24 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 59°32'10" and a radius of 242.34 feet; thence Southeasterly along the arc of said curve 251.82 feet to the end of said curve; thence tangent from said end of curve South 50°32'22" East 97.62 feet; thence departing said centerline North 89°31'39" East 2111.73 feet; thence North 17°52'53" West 380.92 feet; thence North 89°31'39" East 337.87 feet; thence North 00°28'21" West 150.00 feet; thence North 89°31'39" East 1867.95 feet; thence South 00°14'30" West 680.87 feet; thence South 88°49'23" East 78.63 feet; thence South 12°49'39" East 29.72 feet; thence South 77°10'18" West 90.00 feet; thence South 12°49'43" East 30.00 feet; thence North 77°10'18" East 30.00 feet; thence South 12°49'56" East 14.14 feet; thence South 19°27'45" East 607.82 feet; thence South 43°51'20" East 959.22 feet; thence South 11°54'57" East 159.45 feet; thence South 60°05'14" East 1098.46 feet; thence South 22°08'46" East 2187.26 feet; thence South 17°45'43" West 814.40 feet to a point on the Northerly line of that certain parcel of land described. in deed las Parcel A, recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Northerly line the following 5 courses and distances; South 38°04'26" West 66.71 feet; thence South 70°24'28" West 210.50 feet; thence North 65°42'40" West 1366.02 feet; thence North 44°50'58" West 1116.45 feet; thence South 71°22'10" West 137.84 feet; thence departing said Northerly line South 71°22'10" West 539.96 feet; thence South 43°28'15" East 318.43 feet; thence South 16°14'00" East 175.00 feet; thence South 00°40'00" East 380.00 feet; thence South 27°02'02" West 73.00 feet; thence North 65°16'00" West 155.00 feet; thence North 56°09'00" West 462.00 feet; thence North 68°59'00" West 256.00 feet; thence South 31°13'00" West 248.00 feet; thence South 80°26'00" West 196.00 feet; thence North 66°07'00" West 214.52 feet to a point on the Easterly line of that certain panel of land described in deed as Exhibit A recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Easterly line the following 13 courses and distances; North 29°11'51" West 43.84 feet; thence North 35°35'04" West 286.27 feet; , thence North 69°49'46" West 52.20 feet; thence North 34°41'43" West 94.87 feet; thence North 40°48'08" East 154.56 feet; thence North 72°48'61" East 101.53 feet; thence North 31°54'29" East 82.43 feet; thence North 17°31'32" East 69.77 feet; thence North 20°04'17" West 110.72 feet; thence North 07°08'02" West 291.23 feet; thence North 11°60'01" West 107.28 feet; thence North 33°54'04" West 150.60 feet; thence North 07°02'17". West 163.23 feet to a point on the Easterly line of that certain parcel of land described in deed as Exhibit B recorded in Book 1068 under Reception No. 02008614, records of said County; thence along said Easterly line North 36°47'35" East 143.90 feet; thence departing said Easterly line North 57°06'34" West 166.61 feet; thence North 75°57'04" West 582.06 feet; thence North 88°50'24" West 134.11 feet to a point on said Easterly line; thence departing said Easterly line North 27°2703" West 226.36 feet; thence North 39°26'26" West 228.17 feet to a point on said Easterly line; thence departing said Easterly line North 09°64'20" West 362.45 feet; thence North 17°02'45" West 167.22 feet to a point on said Easterly line; thence departing said Easterly line North 28°46'38" West 241.99 feet; thence North 42°83'43" West 106.54 feet to a point on said Easterly line; thence along said Easterly and Northerly lines of said Exhibit B the following 8 courses and distances; North 61°52'04" West 76.22 feet; thence North 89°17'02" East 189.17 feet; thence North 03°45'51" West 390.32 feet; thence North 70°62'01" West 116.11 feet; thence North 72°17'16" West 122.30 feet; thence North 55°39'25" West 181.68 feet; thence North 31°18'35" West 1063.87 feet; thence South 68°31'62" West 67.39 feet; thence departing said Northerly line South 31°28'08" East 522.19 feet; thence South 10°26'09" East 99.33 feet; thence South 38°46'06" East 157.31 feet; thence South 51°32'58" West 95.52 feet to a point on the Westerly line of that certain parcel of land described in deed as Exhibit A recorded in Book 1068 under Reception No. 02008814 records of said County; thence along said Westerly line the following 8 courses and distances; South 00°28'32" East 177.92 feet; thence South 10°18'17" East 78.26 feet; thence South 30°46'13". East 152.46 feet; thence departing said Westerly line South 47°56'08" East 265.05 feet; thence South 87°68'18" West 164.42 feet; thence South 06°08'48" West 239.20 feet to a point on said Westerly line; thence departing said Westerly line South 33°32'10" East 129.62 feet; thence South 74°20'47' East 218.49 feet to a point on said Westerly line; thence departing said Westerly line South 21°06'62" East 186.12 feet to a point on said Westerly line; thence departing said Westerly line South 06°84'43" East 216.02 feet to a point on said Westerly line; thence along said Westerly line South 40°38'66" East 130.48 feet; thence departing said Westerly line South 06°3715" West 112.76 feet to a point on said Westerly line; thence along said Westerly line the following 3 courses and distances; South 13°34'14" East 59.67 feet; thence South 36°26'24" East 136.24 feet; thence South 49°69'37" East 73.11 feet; thence departing said Westerly line 1111111 IIIII 11"11'111 I"" IIIII 1111111 III 111111 III I"I 3001470 12/10/100 01:34P Meta County Co 10 .f 17 R 00.00 D 0.00 JA Sukt Tsuksm.t. I2116111111111,11811111111;111 III 11111! H III! iCounty CC 16 of 17 R 86.00 D 0.00 JR Suki Tsukasetd • South 72°03'02" East 149.26 feet to a point on said Westerly line; thence departing said Westerly line South 28°24'46" East 133.73 feet; thence South 40°21'52" East 122.55 feet; thence South 31°08'20" East 168.24 feet to a point on said Westerly line; thence along said Westerly line the following 2 courses and distances; South 35°26'45" East 144.84 feet; thence South 52°48'65" East 145.60 feet; thence departing said Westerly line South 53°35'20" East 274.60 feet to a point on said Westerly line; thence departing said Westerly line South 01°31'33" West 75.03 feet to a point on said Westerly line; thence departing said Westerly line South 30°03'16" West 263.26 feet; thence South 06°03'15" East 282.44 feet; thence South 25°15'47" East 337.55 feet to a point on said Westerly line; thence departing said Westerly line South 23°51'09" East 264.59 feet;. thence South 29°30'41" East 174.35 feet to a point on the Easterly line of that certain parcel of land described in deed, recorded in Book 1068 under Reception No. 02008615, records of said County; thence along said Easterly line the following 6 courses and distances; South 37°11'26" East 96.99 feet; thence South 52°03'11" East 69.68 feet; thence South 55°31'12" East 148.65 feet; thence South 16°11'37" East 138.93 feet; thence South 42°52'31" East 177.69 feet; thence South 25°09'42" East 155.19 feet; thence departing said Easterly line South 24°47'31" East 180.62 feet; thence South 36°43'59" East 146.03 feet; thence South 25°08'23" West 111.15 feet; thence South 02°01'66" East 227.19 feet; thence South 20°03'39" East 193.90 feet; thence South 12°33'01" East 346.85 feet; thence South 10°22'16" West 264.13 feet; thence South 05°0742" West 157.19 feet; thence South 32°32'33" West 220.12 feet; thence South 19°19'41" West 268.66 feet; thence South 38°04'00" West 284.92 feet; thence South 79°43'10" West 714.61 feet; thence South 24°52'12" West 224.67 feet; thence South 07°13'57" East 37.52 feet to a point on the Northerly line of said Section 15; thence along said Northerly line North 89°28'21" East 75.13 feet; thence departing said Northerly line South 00°41'51" East 5263.69 feet to a point on the Southerly line of said Section 15; thence along said Southerly line South 89°48'58" West 3588.01 feet to the Southeast Corner of said Section 16; said point also being the TRUE POINT OF BEGINNING; Including that portion thereof platted as Beebe Draw Farnis and Equestrian Center First Filing under Revised Plat and Dedication recorded April 12, 1988 in Book 1192 as Reception No. 2137453. The above described parcel contains 4120.472 acres more or less and is subject to the following easements, agreements and rights -of -way. Deed recorded in Book 512, Page 551, (location of right-of-way cannot accurately be defined per legal description), Deed recorded in Book 655, Page 293, Deed recorded in Book 655, Page 502, Agreement recorded in Book 961, Page 223, Right-of-way and Easement recorded in Book 1045 under Reception No. 01983413, (location of right-of-way and easement cannot accurately be defined per legal description), Quit Claim Deed recorded in Book 1068 under Reception No. 02008614 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008615 (shown hereon), Quit Claim Deed recorded in Book 1068 under Reception No. 02008616 (shown hereon), Canal Right-of-way Agreement recorded in Book 1068 under Reception No. 02008617, Quit Claim Deed recorded in Book 1068 under Reception No. 02008618, Quit Claim Deed recorded in Book 1068 under Reception No. 02008819 (shown hereon), Quit Claim Deed recorded in Book 1088 under Reception No. 02008620 (shown hereon), Agreement recorded in Book 1068 under Reception No. 02008621, Right-of-way recorded in Book 1068 under Reception No. 02008622 (shown hereon), Grazing and Recreational Lease recorded in Book 1068 under Reception No. 02008623, Amendment to Grazing and Recreational Lease recorded in Book 1068 under Reception No. 02008624, Quit Claim Deed recorded in Book 1068 under Reception No. 02008625 (20 foot access easement subject to grazing lease), Right-of-way easement and Licenses recorded in Book 1068 under Reception No. 02008628, Quit Claim Deed recorded in Book 1068 under Reception No. 02008627 (reconfirms rights previously granted in Book 1045 under Reception No. 10983413), Quit Claim Deed recorded in Book 1068 under Reception No. 02008628 (20 foot permanent access easement), Quit Claim Deed recorded in Book 1076 under Reception No. 02017072 (affects parcels recorded in Book 1068 under Reception No. 02008628, Reception No. 02008620, Reception No. 02008616 and Reception No. 02008627), Quit Claim Deed recorded in Book 1111 under Reception No. 02052204, Quit Claim Deed recorded in Book 1112 under Reception No. 02053446, (Amends Legal in Quit Claim Deed recorded in Book 1068 under Reception No. 02008619), Agreement recorded in Book 1117 under Reception No. 02058723, Grazing and Recreational Lease recorded in Book 1148 under Reception No. 02090926, Order Approving Settlement Agreement recorded in Book 1201 under Reception No. 02147157, Supplemental Declaration recorded in Book 1224 under Reception No. 02170703, (Relocates easement granted in Book 1068 under Reception No. 02008628), Amendment to Grant of Easement recorded in Book 1268 under Reception No. 02218734, (restates and amends right- of-way and easement recorded in Book 1045 under Reception No. 01983413 and Book 1068 under Reception No. 02008627), Oil and Gas Lease recorded in Book 1327 under Reception No. 02280130 and all other easements, agreements and rights -of -way of record. 1111111IIUI11111111111111101111111111III111111IIIIII 2011470 12/11/1111 02:34P Mold County CO 17 of 17 R 11.00 0 0.00 JR Suki Toukamoto FINANCING PLAN g R yo § ggiElEgVg� Ol g� r ' N N A n a g 31,333,530' o^RI RIMER Q O§ r N I N 'f E A U I 'nil tA+l N M pp pR O R� O O O 0 O O g O N g 0 Ng A 8 §0.0.0 g 00 0 00. F{! O O Q t Yj aS E aR �`{ ! l Q jv N pp§ T a § 2 SQ �jtD l i 1Aq� N+ O 0 0 O O Fl M 1 O O 8 O A : �� O pp8 O a N V 88 O O O 0° O 04 1 OOsQR$2Ggu`3AR4 Q gAgv 5� �Q gmv- 5� gyp, .,r�; 7S a QQ §2S sikG QQ $30 yy�� 00 0 op 0k g A 00$aw�53$F�tignt 8R$ NQ g� § I a §aA0 sgg f§ s 00 0 i O°RR4 lwf fNd,RAR�q ffi a §§.4 gRAis 57.376 0 00 0 Ox j �R1 O O� p ii � N R 0 Y, § 8 f �y �O t+l N O O O O °R G N q i O O Q ��(( Q ��j �w R A ��yp Y v t�AyO. Of O^ Y o v g O � (Oy 1� 8 O 8 {lfg R§ Bey R Qq 1� �4 N O Q$ N O O gy c":"JJ3Ga 2N eo -N i0 s !A �Q N I- QS RpR sF AR° �p g q0 R 0 Og ci Oq1 OI O O 8e♦ O Yi 888 b g EO pppppp E O N 8 O N p N In- .- ..[ Ut� O R g q N eq OI 8 R....„." I- O f� N 8 O 8 10 O {♦� 1� O W 0 O ♦p Yf ? �tpp a! III i 'Bond Proceeds Net or Issuance Costs (Tap Fees - Central Weld (Note #1) lz Ii 'Developer Fees (Note #2) ( Property Taxes -Oil & Gas (Note #4) I Property Taxes - Residential (Note #6) 'Specific Ownership Taxes (Note #6) Fealties Operation (Note #7) 'Conservation Trust Fund (Note it8) 'Too Revenue Operation & Administration (Note 89) CST Water (Note *10) Roadway Paving (Note #11) Roadway Eertinverk (Note #11) Culverts (Note *11) Entrance & Adniittdtion Btlgs (Note $12) (Mosquito Control 11 qIs I MI (it l I Water System - On Site (Note #16) h N 66R t4 EE N OOOOi§ OOOYO Rg S k N g OR N I g 724 R O Y � N�yy m p^p lV t mV f p mt O O g a z N A o - O 01 N� �t H ^ p l C m I RIME f NI� m �I ttppoo °I g T ryry O c E g 4� r q � m p o 5 g O I888118 ♦ N�'1 np g b 8 I g8 8 O P g N I N �tppd� �'f k 8O AAf M dQ O E o f 5� 2N5gqIRRI Y m y� gf� Q A (�N y� I N !d ioii3N ^ lQ T f0 T ? 55��.I E A gg�� I N gg E 55�� E 3 o '95 rim S i 8 O Y pp�I f° y� OI n pp §pI N 8♦Np O N qOpI m N R o♦y ,Ip d d E N ♦ �fgq�yO m (C 8 5 a°II� ' g m 93 5; -e'I §gREI' g N NNg R IN gip jY4'4 = �i IREE6 ogg I a € g R s k $ s §OOR g C 3S i li 6 Q� 3 3 Q6 3 CC o e I In I#401##1» -0 III jllH5 I 1 lit ielII p I 1 I Q I I 11 Y Cb N. 8 I 2 CC Q I g s I II § �o §11t if �I I!i 'I I OH anti 11 I!thin' P4 Oi O EXHIBIT G Debt Amortization Schedule Year Interest Principal Total Annual Balance Payments 2,000,000 1999 129,660 0 129,660 2,000,000 2000 129,660 0 129,660 2,000,000 2001 129,660 5,000 134,660 1,995,000 2002 129,360 5,000 134,360 1,990,000 2003 129,060 70,000 199,060 1,920,000 2004 124,860 75,000 199,860 1,845,000 2005 120,360 85,000 205,360 1,760,000 2006 115,260 90,000 205,260 1,670,000 2007 109,860 95,000 204,860 1,575,000 2008 104,160 100,000 204,160 1,475,000 2009 98,160 110,000 208,160 1,365,000 2010 91,560 115,000 206,560 1,250,000 2011 84,200 125,000 209,200 1,125,000 2012 76,200 135,000 211,200 990,000 2013 67,560 140,000 207,560 850,000 2014 58,600 150,000 208,600 700,000 2015 49,000 160,000 209,000 540,000 2016 37,800 170,000 207,800 370,000 2017 25,900 180,000 205,900 190,000 2018 13,300 190,000 203,300 0 EXHIBIT H [1997 FINANCIAL STATEMENTS) • BEEBE DRAW . FARMS METROPOLITAN DISTRICT FINANCIAL STATEMENTS and SUPPLEMENTAL INFORMATION DECEMBER 31, 1997 `ran chooneveld and Co., Inc. Certified Public Accountants • • BEEBE DRAW FARMS METROPOLITAN DISTRICT TABLE OF CONTENTS DECEMBER 31, 1997 Paee Independent Auditor's Report General Purpose Financial Statements Combined Balance Sheet - All Fund Types and Account Group Combined Statement of Revenue, Expenditures and Changes in Fund Balance - All Governmental Fund Types Combined Statement of Revenue, Expenditures and Changes in Fund Balance - Actual and Budget - All Governmental Fund Types Notes to Financial Statements Supplemental Information Summary of Assessed Valuation, Mill Levy and Property Taxes Collected 1 2-3 4-5 6-7 8-14 15 `�an v chooneveld and Ca, Inc. Certified Public Accountants INDEPENDENT AUDITOR'S REPORT Board of Directors Beebe Draw Farms Metropolitan District Weld County, Colorado Principals Jack C. Schroeder Larry R. Beardsley Richard M. Carlson Mark D. Elmshause Kevin E Collins We have audited the accompanying general purpose financial statements of Beebe Draw Farms Metropolitan District as of and for the year ended December 31, 1997, as listed in the foregoing Table of Contents. These financial statements are the responsibility of the District's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of Beebe Draw Farms Metropolitan District at December 31, 1997 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The supplemental information as listed in the Table of Contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of Beebe Draw Farms Metropolitan District. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the genera] purpose financial statements taken as a whole. VciALilenatu cw4Lcol4,t L. June 15, 1998 6000 Greenwood Plaza Blvd., 0110 • Greenwood Village, CO 80111-4817 303-779-4000 • FAX 303-770-9276 • E-mail: vacocpas@vacocpa.com Members; American Institute of Ceniaed Public Accountants - S.E.C. end Private Practice Sections • Colorado Society of Certified Public Accountants SUPPLEMENTAL INFORMATION GENERAL PURPOSE FINANCIAL STATEMENTS BEEBE DRAW FARMS METROPOLITAN DISTRICT COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUP DECEMBER 31, 1997 Governmental Fund Types ASSETS Cash deposits Cash held by County Treasurer Property tax receivable Property Total assets LIABILITIES AND EQUITY LIABILITIES Accounts payable Deferred property tax revenue Total liabilities EQUITY Debt Capital General Service Projects Fund Fund Fund $ 235,202 $ 225,244 $ 61,359 73,800 184,000 $ 309.007 $ 225.244 $ 245.359 $ 13,457 S. 73.800 _ 87.257 184.000 184.000 Investment in general fixed assets Fund balances Reserved 8,700 225,244 61.359 Unreserved and undesignated 213.045 Total equity 221.745 225.244 61,359 Total liabilities and equity 5 309.002 $ 225.244)_...4.1.112 -2- Account Group General Totals Fixed (Memorandum Only) Assets 1997 1996 $ $ 521,805 $ 698,549 2,761 257,800 240,000 847.871 847.871 309.609 $ 847.871 847,871 847.871 $ 1.O7.476 1_1212_2 $ 13,457 $ 6,250 257.800 240.000 271.257 246.250 847,871 309,609 295,303 514,520 213.045 180.540 1.356.219 1.004.669 $ :47 : $ 1.627.476 $ 1.250.919 The accompanying notes are an integral part of the financial statements. -3- BEEBE DRAW FARMS METROPOLITAN DISTRICT COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE - ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1997 Debt Capital General Service Projects Fund Fund Fund REVENUE Property taxes Specific ownership taxes Lease revenue Interest Intergovernmental Total revenue EXPENDITURES Current Legal Insurance Audit and accounting Directors' fees County Treasurer's fees Lake lease Interest - Abated taxes Miscellaneous Rent Debt service G.O. note - Principal G.O. note - Interest Capital outlay Total expenditures EXCESS REVENUE OVER (UNDER) EXPENDITURES FUND BALANCE - BEGINNING OF YEAR $ 42,217 $ 25,962 25,695 4,313 28 _ 98,215 11,855 3,667 4,000 500 690 28.550 5,920 2,628 3,600 $ 171,846 22,616 194,462 1.718 416.261 61.410 417,979 36,805 (223.517) 184.940 225.244 284.876 FUND BALANCE - END OF YEAR $ 221,745 $ 225.244 $ 61,359 -4- • Totals (Memorandum Only) 1997 1996 $ 214,063 $ 339,284 25,962 36,082 25,695 24,755 26,929 43,494 28 36 292.677 443.651 11.855 13,684 3.667 3,922 4,000 4.000 500 950 2,408 3,397 28,550 27.516 5,920 2,628 84 3,600 3,600 416.261 479.389 490.406 350,000 31,500 51.753 (186,712) (46,755) 695.060 741.815 S 508.348 S 695.060 The accompanying notes are an integral part of the financial statements. -5- BEEBE DRAW FARMS METROPOLITAN DISTRICT COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE - ACTUAL AND BUDGET ALL GOVERNMENTAL FUND TYPES YEAR ENDED DECEMBER 31, 1997 General Fund REVENUE Property taxes Specific ownership taxes Lease revenue Interest Intergovernmental Total revenue EXPENDITURES Current Legal Insurance Audit and accounting Directors' fees County Treasurer's fees Lake lease Interest - Abated taxes Miscellaneous Rent Debt service G.O. Note -Interest and issue costs Capital outlay Total expenditures EXCESS OF REVENUE OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES Proceeds from general obligation bonds Total other financing sources EXCESS OF REVENUE AND OTHER SOURCES OVER (UNDER) EXPENDITURES FUND BALANCE - BEGINNING OF YEAR FUND BALANCE - END OF YEAR Actual $ 42,217 25,962 25,695 4,313 28 98.215 11,855 3,667 4,000 500 690 28,550 5,920 2,628 3,600 61.410 36.805 Variance - Favorable Budget (Unfavorable) $ 69,003 $ (26,786) 30,000 (4,038) 26,000 (305) 750. 3,563 30 (Z) 125.783 (27.568) 20,000 4,000 4,500 1,500 2,410 29,000 8,145 333 500 1.000 1.720 450 (5,920) 500 (2,128) 3,600 65.510 4,100 60,273 (23.468) 36,805 60,273 (23.468) 184.940 185.660 (720) $ 22(.745 $ 245.933 $ (24188) .6. Debt Service Fund Capital Projects Fund Variance - Favorable Actual Budget (Unfavorable) Actual Budget $ $ 45,000 45,000 171,846 $ 171,908 22,616 194.462 1,718 416.261 45.000 45.000 417.979 7,500 179.408 25,000 1.423.103 1.448.103 (45,000) 45,000 (223.517) (1.268.695) 1.000.000 1.000.000 Variance - Favorable (Unfavorable) $ (62) 15,116 15.054 (1,718) 25,000 1.006.842 1.030.124 1.045,178 (1.000.000) (1.000.000) (45,000) 45,000 (223,517) (268,695) 45.178 225.244 225.158 86 284.876 270.660 14,216 $ 225.244 L....1,12.12 $ 45.086 $ 61.359 19 9.394 The accompanying notes are an integral part of the financial statements. -7- BEEBE DRAW FARMS METROPOLITAN DISTRICT NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1997 NOTE 1) DEFINITION OF REPORTING ENTITY The District, a quasi -municipal corporation, is governed pursuant to provisions of the Colorado Special District Act. The District's service area is located in Weld County, Colorado. The District was established to provide water, parks and recreational facilities, street and drainage improvements, safety protection and related services. The District has no employees and all operations and administrative functions are contracted. The District follows the Governmental Accounting Standards Board (GASB) accounting pronouncements which provide guidance for determining which governmental activities, organizations and functions should be included within the financial reporting entity. GASB pronouncements set forth the financial accountability of a governmental organization's elected governing body as the basic criterion for including a possible component governmental organization in a primary government's legal entity. Financial accountability includes, but is not limited to, appointment of a voting majority of the organization's governing body, ability to impose its will on the organization, a potential for the organization to provide specific financial benefits or burdens and fiscal dependency. The District is not financially accountable for any other organization, nor is the District a component unit of any other primary governmental entity. NOTE 2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The more significant accounting policies of the District are described as follows: a) Fund Accounting The accounts of the District are organized on the basis of funds or account groups, each of which is considered a separate accounting entity. Fund types and account groups used by the District are described below. Governmental Fund Types General Fund - The General Fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in other funds. Debt Service Fund - The Debt Service Fund is used to account for the accumulation of resources for, and the payment of general long-term obligation principal, interest and related costs. -8- Capital Projects Fund - The Capital Projects Fund is used to account for financial resources to be used for the acquisition or construction of major capital facilities. Account Group General Fixed Assets Account Group - This group of accounts is established to account for recorded fixed assets of the District. b) Basis of Accounting The modified accrual basis of accounting is followed in the governmental fund types. Revenue is recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The major sources of revenue which are susceptible to accrual are property taxes. Expenditures, other than interest on long-term obligations are recorded when the liability is incurred or the long-term obligation paid. c) Budgets In accordance with the State Budget Law, the District's Board of Directors holds public hearings in the fall each year to approve the budget and appropriate the funds for the ensuing year. The appropriation is at the total fund expenditures level and lapses at year end. The District's Board of Directors can modify the budget by line item within the total appropriation without notification. The appropriation can only be modified upon completion of notification and publication requirements. Encumbrance accounting (open purchase orders, contracts in process and other commitments for the expenditures of funds in future periods) is not used by the District for budget or financial reporting purposes. d) Pooled Cash The District follows the practice of pooling cashand investments of all funds to maximize interest earnings. Except when required by trust or other agreements, all cash is deposited to and disbursed from a single bank account. Cash in excess of immediate operating requirements is pooled for deposit and investment flexibility. Interest is allocated to the General and Capital Projects Funds as determined by the Board of Directors in the budget process. e) General Fixed Asset Account Group Property is stated at cost. No depreciation is provided on general fixed assets. -9 0 Property Taxes Property taxes are levied by the District Board of Directors. The levy is based on assessed valuations determined by the County Assessor generally as of January 1 of each year. The levy is normally set by December 15 by certification to the County Commissioners to put the tax lien on the individual properties as of January 1 of the following year. The County Treasurer collects the determined taxes during the ensuing calendar year. The taxes are payable by April or if in equal installments, at the taxpayers election, in February and June. Delinquent taxpayers are notified in August and generally sales of the tax liens on delinquent properties are held in November or December. The County Treasurer remits the taxes collected monthly to the District. Property taxes, net of estimated uncollectible taxes, are recorded initially as deferred revenue in the year they are levied and measurable. The deferred property tax revenue are recorded as revenue in the year they are available or collected. g) Fund Equity Fund Balance The fund balances have been reserved for that portion of the fund balance that is legally segregated or is not subject to future appropriation. Designations of unreserved fund balances indicate management's intention for future utilization of such funds and are subject to change by management. The District considers all unreserved fund balances to be "reserves" for future operations or capital replacement as defined within Article X, Section 20 of the Constitution of the State of Colorado (see Note 9). Reserved Fund Balance Article X, Section 20 of the Constitution of the State of Colorado requires the District to establish Emergency Reserves (see Note 9). $8,700 of the fund balance has been reserved in compliance with this requirement. The fund balance in the Debt Service Fund is reserved for future general obligation debt. The fund balance in the Capital Projects Fund is reserved for street and drainage improvements and to provide water facilities. h) Totals (Memorandum Only) Total columns on the combined statements are captioned "(Memorandum Only)" because they do not represent consolidated financial information and are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations, in conformity with generally accepted accounting principles. Neither is such data comparable -10- to a consolidation. Interfund eliminations have not been made in the aggregation of this data. NOTE 3) CASH AND INVESTMENTS Cash Deposits The Colorado Public Deposit Protection Act (PDPA) requires that all units of local government deposit cash in eligible public depositories. Eligibility is determined by state regulators. Amounts on deposit in excess of federal insurance levels must be collateralized. The eligible collateral is determined by the PDPA. PDPA allows the institution to create a single collateral pool for all public funds. The pool for all the uninsured public deposits as a group is to be maintained by another institution or held in trust. The market value of the collateral must be at least equal to the aggregate uninsured deposits. The State Regulatory Commissions for banks and financial services are required by Statute to monitor the naming of eligible depositories and reporting of the uninsured deposits and assets maintained in the collateral pools. At December 31, 1997, the District's cash deposits had a bank balance and a carrying balance as follows: Insured deposits Deposits required to be collateralized in single institution pools Investments Carrying Balance $ 226,448 295.357 $ 521.805 Bank Balance $ 226,448 295.357 521,805 Colorado statutes specify investment instruments meeting defined rating and risk criteria in which local governments may invest which include: Obligations of the United States and certain U.S. government agency securities Certain international agency securities General obligation and revenue bonds of U.S. local government entities Bankers' acceptances of certain banks Commercial paper Written repurchase agreements collateralized by certain authorized securities Certain money market funds Guaranteed investment contracts Local government investment pools During the year ended December 31, 1997, the District had no investments. -11- NOTE 4) PROPERTY An analysis of the changes in property for the year ended December 31, 1997 follows: $y Classification Land Roads Water distribution facilities Offsite water facilities Water capacity Recreation facilities By Source Contributed Long-term debt obligations Balance at January 1.1997 Balance at December Additions Retirements 31.1997 $ 128,375 $ $ 128,375 79,699 26,785 106,484 162,621 3,200 165,821 300,000 300,000 67,500 67,500 67.289 12.402 79.691 309.609 $ 538.26Z $ -0- $ 847,871 $ $ 122,000 $ $ 122,000 309.609 416.262 725.871 $ 309,609 53>,., �2 $ 0- $ 847.871 During the year ended December 31, 1997, the primary developer in the District (see Note 6) contributed land valued at $122,000 to the District. NOTE 5) LONG-TERM OBLIGATIONS On November 2, 1993, the voters of the District passed two questions to increase debt by a total of $2,000,000, at an interest rate not to exceed 9%, along with property taxes in the maximum amount of $280,000 per year to pay off that debt. On November 5, 1996, the voters of the District passed three questions to increase debt by a total of $3,000,000, at an interest rate not to exceed 10%, along with property taxes in the maximum amount of $450,000 per year to pay off that debt in not more than 20 years. At December 31, 1997, the District had authorized but unissued indebtedness in the following amounts allocated for the following purposes: Parks and recreational facilities Water facilities Street improvements NOTE 6) RELATED PARTIES $ 1,000,000 1,675,000 1.975.000 $ 4.650.000 The primary developer of real property in the District is R.E.I. Limited Liability Company (Developer), successor in interest to Beebe Draw Farms, Ltd. Certain members of the Board of Directors are associated with the Developer. -12- NOTE 7) COMMITMENTS Operating Lease and Sublease On March 4, 1987, the Developer (see Note 6) entered into a grazing and recreation lease for Milton Lake and surrounding land in Weld County. Subsequent to that date, the Developer assigned the lease to the District. The lease continues through 2016 and requires annual payments of $20,000, adjusted by the Consumer Price Index, which amounted to $28,550 for 1997. The annual payment due over the last 12 years of the lease is subject to renegotiation by both parties. If the fair market rental value of the property increases for any two consecutive years at a rate in excess of the Consumer Price Index adjustment, the rate must increase in accordance with such increased fair market rental value. The District has also been assigned a sublease of the above described property. The lease income to the District for the year ended December 31, 1997 was $25,695. The term of the sublease continues through 2004. NOTE 8) • RISK MANAGEMENT The District is exposed to various risks of loss related to torts, thefts of assets; errors or omissions, or acts of God. The District maintains commercial insurance for all risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three fiscal years. NOTE 9) TAX, SPENDING AND DEBT LIMITATIONS Article X, Section 20 of the Colorado Constitution, commonly known as the Taxpayer's Bill of Rights (TABOR) contains tax, spending, revenue and debt limitations which apply to the State of Colorado and all local governments. Spending and revenue limits are determined based on the prior year's Fiscal Year Spending adjusted for allowable increases based upon inflation and local growth. Fiscal Year Spending is generally defined as expenditures plus reserve increases with certain exceptions. Revenue in excess of the Fiscal Year Spending limit must be refunded unless the voters approve retention of such revenue. TABOR requires local governments to establish Emergency Reserves. These reserves must be at least 3% of Fiscal Year Spending (excluding bonded debt service). Local governments are not allowed to use the emergency reserves to compensate for economic conditions, revenue shortfalls, or salary or benefit increases. The District's management believes, after consultation with legal counsel, that it is in compliance with the provisions of TABOR. However, TABOR is complex and subject to interpretation. Many of the provisions, including the interpretation of how to calculate Fiscal Year Spending limits will require judicial interpretation. On November 5, 1996, the voters of the District approved the retention of all future revenue without limitation under TABOR or other laws. -13- NOTE 10) INTERGOVERNMENTAL AGREEMENT On June 27, 1995, the District entered into a contract with the Central Weld County Water District (Water District) and the REI Limited Liability Company (Company) (see Note 6). The Company is planning an eight hundred unit residential development within District boundaries. The District or the Company agree to construct or reimburse the Water District for construction costs of water facilities directly related to the development. The Water District will assume all operation, maintenance, repair and replacement of all water facilities upon acceptance and completion. In June 1997, the District paid the Water District a nonrefundable contribution for the construction of offsite transmission and water storage facilities in the amount of $300,000. As the District obtains water rights, they are given to the Water District in return for the right to agreed upon levels of water capacity. During 1997, water rights adequate for 25 single family homes were purchased for $67,500 and transferred to the Water District. -14- • • BEEBE DRAW FARMS METROPOLITAN DISTRICT SUMMARY OF ASSESSED VALUATION, MILL LEVY AND PROPERTY TAXES COLLECTED DECEMBER 31, 1997 Prior Year Assessed Valuation for Current Mills Levied Percent Year Ended Year Property Debt Capital Total Property Taxes Collected December 31 Tax Levy General Service Protects Total Levied Collected to Levied 1993 1994 1995 1996 1997 Estimated for the year ending December 31, 1998 NOTE: $ 3,698,210 11.877 28.123 S 4,550,890 10.248 29.752 $ 7,120.160 9.941 30.059 S 8.449.710 9.413 30.587 $ 6,022,820 11.457 40.000 $ 147,928 $ 148,208 100.2% 40.000 $ 182,032 $ 182,035 100.0% 40.000 $ 284,806 S 285,450 100.2% 40.000 $ 337,988 $ 339.284 100.4% 28.543 40.000 S 240,913 $ 214,063 88.9% $ 6,449,480 11.457 . 28.543 40.000 $ 257,980 Property taxes collected in any one year include collection of delinquent property taxes or abatements of property taxes levied in prior years. Information received from the County Treasurer does not permit identification of specific year of assessment. 1C PAUL R. COCKREL JAMES P. COLLINS ROBERT O. COLE PAUL C. RUFIEN TIMOTHY J. FLYNN DEREK 0. PASSARELLI COLLINS AND COCKREL, P.C. ATTORNEYS AT LAW 390 UNION BOULEVARD. SUITE 400 DENVER. COLORADO 901]8.1888 May 24, 1999 Richard W. Toussaint Toussaint & Nemer, P.C. 3103 Evergreen Parkway, Suite 210 Evergreen, Colorado 80439-7971 RE: Evergreen Central Metropolitan District and Upper Bear Creek Water and Sanitation District / Wastewater Treatment and Service Agreement Dear Richard: TELEPHONE 303- 9894531 WATS 800. 364-6941 TELEFAX 303.98&1788 EMAIL CandC PCCaol.com Enclosed are four copies of the final Wastewater Treatment and Service Agreement for both Evergreen Central Metropolitan District and Upper Bear Creek Water and Sanitation District. The final version includes the final capacity allocations. Also enclosed are redlined illustrating the specific changes in each Agreement for your quick reference. Please arrange for execution of two copies of the Service Agreement by the Board of Directors of each District and return to me for final approval by Evergreen. I will return one fully executed copy of each Agreement when available. If you have any question, please advise. Sincerely, Paul R. Cockrel /ab Enc. cc: EMD EMDLLTa1TOUSACR.DOC EXHIBIT D [WATER SERVICE AGREEMENT) AGREEMENT FOR WATER SERVICE This Agreement for Water Service ("Agreement") is made and entered into as of this 27th day of June, 1995, by and between CENTRAL WELD COUNTY WATER DISTRICT ("Water District"), BEEBE DRAW FARMS METROPOLITAN DISTRICT ("Metro District"), each of such Districts being Colorado special districts located in Weld County, and REI LIMITED LIABILITY COMPANY ("Company"), a Wyoming limited liability company doing business in Colorado as Investors Limited Liability Company. WHEREAS, Water District is organized as a special district pursuant to Section 32-1-101, et seq., C.R.S., to furnish treated water within its jurisdictional boundaries; and WHEREAS, Water District purchases water from the Carter Lake Filter Plant, a Colorado municipal corporation, which acquires raw water from the Northern Colorado Water Conservancy District ("Northern District") and its Municipal Subdistrict ("Northern Subdistrict") in accordance with certain agreements between such entities; and WHEREAS, Metro District is organized as a special district pursuant. to Section 32-1-101, et seq., C.R.S., to furnish treated water, recreation, roads, and related services within its jurisdictional boundaries; and WHEREAS, Company is the owner of certain real property, as is more specifically described in Exhibit A attached hereto and incorporated herein, zoned and platted as an 800 -unit residential development commonly referred to as Beebe Draw Farms and Equestrian Center ("Property"), and desires to receive treated water service for the Property from the Water District or Metro District; and WHEREAS, the Property comprises all of the territory within the Metro District, is not currently within the jurisdictional boundaries of the Water District, but was included into the jurisdictional boundaries of the Northern Subdistrict on March 27, 1986; a petition for inclusion of the Property into the Northern • �! District itself is pending final approval by the Secretary of the United States Department of Interior or his delegate; and WHEREAS, Water District, Metro District and Company have determined that the Property can be most efficiently and effectively furnished treated water service by the Water District exclusively utilizing raw water supplied by the Northern District or Northern Subdistrict in accordance with the terms and conditions of service set forth in this intergovernmental contract, which also provides in part for the joint exercise of statutory powers by each District pursuant to Section 29-1-203, C.R.S., with the full consent and approval of the Company, THEREFORE, in consideration of the mutual covenants, agreements, and promises hereinafter set forth, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1. The Water District shall exclusively furnish treated water service to the Property in accordance with Water District rules and regulations and line extension policies as now adopted or as, hereafter may be adopted by the Water District for all its customers, except as otherwise specifically provided herein. All such rules, regulations, and rates, fees, and charges of the Water District relating to water service to the Property shall be applied uniformly among similar users within the jurisdictional boundaries of the water District, including the Property, except as otherwise specifically provided herein. The Water District may, however, establish different rates and other criteria for service within areas of the Water District as provided by statute. The Metro District will not provide treated water service to the Property. 2. The Metro District or Company shall pay for and provide all water mains and related facilities either within or without the boundaries of the Metro District in order to furnish water service to the Property. The Water District must give its prior written 2 • • approval to all construction by the Metro District or Company, or its contractors, upon terms approved by the Water District. A. The Water District must approve such construction by the Metro District or Company, or its contractors, by subsequent written agreement providing for the terms of such installation, including requirements that the materials used shall meet all standards of the Water District and that provides for inspection by the Water District of the construction of such water mains and facilities. The cost of all construction shall be paid by the Metro District or Company to the Water District or to the contractors, as the case may be. B. If construction is performed by the Water District or its contractors, a deposit in the amount hereafter specified shall be paid by the Metro District or Company to the Water District as an advance towards the construction cost of such installation. After completion of such construction and acceptance by the Water District, a final adjustment of costs will be made, if necessary. In the event that it is determined that the deposit is insufficient to cover the estimated cost of construction, then the Metro District or Company shall pay to Water District, on demand, additional advances towards the cost of construction. C. The Metro District shall pay a nonrefundable contribution in aid of construction for all offsite transmission and water storage facilities used to furnish water service to the Property in the amount of $300,000. No other capital contributions shall be required, except for the actual cost of water mains and appurtenant facilities specified herein. Such contribution in aid of construction shall be paid (i) at such time as the Water District or Metro District has acquired and transferred the raw water supply from the Northern District or Northern Subdistrict 3 • • to the Water District as hereinafter provided, or (ii) on July 1, 1997, whichever event occurs first. In the event such contribution in aid of construction is not paid for any reason, then this Agreement shall terminate and be of no further force or effect, unless the Water District extends such payment date by written notice. D. If the installation is constructed by the Metro District or Company, or its contractors, the Metro District or Company shall transfer all right, title, and interest in and to such facilities installed as well as necessary easements and appurtenances and related property rights to the Water District by good and sufficient assignment or bill of sale with warranties of title and by general warranty deed. Such transfer shall be made free and clear of all liens and encumbrances. The Metro District or Company shall furnish sufficient evidence of title with a "Form 100" endorsement to a standard ALTA title policy, if required by the Water District. The Metro District or Company shall furnish appropriate lien releases or a good and sufficient bond in form acceptable to the Water District in order to insure that all construction costs have been paid in full.. All labor and materials shall be warranted for defects of any kind by the Metro District or Company, or its contractors, for two years from the date of written acceptance of such facilities by the Water District. The Water District, upon receipt of the documents of transfer and evidence of title, shall consider whether to accept or reject the installation. If the Metro District or Company has complied with the applicable provisions of this Agreement and all other conditions precedent to the acceptance of such facilities, the Water District shall approve and accept the transfer and shall thereafter assume all operation, maintenance, repair and replacement of such facilities. In no event shall the Water District assume any ownership, operation, or maintenance of any 4 • installation on the service side of a customer's meter installation. E. The design and fire flow of the water facilities installed to serve the Property shall be subject to review and comment by the fire protection authority with jurisdiction over the Property prior to installation of such facilities. 3. The Water District will sell water taps in accordance with the terms of this Agreement and Water District rules and regulations for improvements constructed on the Property within the Metro District upon a customer's application for service and payment of all fees and charges set forth in Water District rules and regulations, subject to the general availability of such water taps and the reasonable responsibility of the Water District to furnish treated water service to the Property recognizing that temporary interruptions of water service may occur. If the Water District cannot furnish an adequate raw water supply for the development of the Property, the Metro District or Company shall acquire adequate raw water supplies for each phase of development of the Property from the Northern District or Northern Subdistrict in accordance with their established policies or from other sources acceptable to the Water District and transfer suchwater supplies to the Water District for service to the Property in accordance with Water District rules and regulations; provided that, the Metro District may reuse all water acquired and transferredfrom the Northern Subdistrict to the Water District for irrigation of Metro District recreational facilities or other District purposes, subject to all applicable reuse regulations of the Northern Subdistrict. In order to provide raw water supplies for the Property as herein provided, the Metro District or Company agree to transfer the units of Northern District or Northern Subdistrict water rights so acquired to the Water District for such purpose. The total value of such units shall be applied as a credit against the raw water fee of the Water District at the time of issuance of each such tap; the customer shall pay only the capital improvement 5 fee component of the Water District tap fee and other standard charges due at the time of the tap installation. The Water District will be obligated to serve no more than 800 residential equivalent units on the Property for which an adequate supply has been furnished by the Metro District or Company in accordance with all terms set forth herein. In addition to the rates, fees and charges of the Water District, the Metro District may impose fees and charges to customers within the Metro District for water and facilities furnished by the Metro District, and such fees and charges shall be collected by the Water District from such customers at the time of issuance of water taps and remitted to the Metro District. 4. Customers within the Water District and Metro District shall commence payment of the uniform rates of the Water District, including minimum fees, on the date of setting of the water meter and the availability of water for use at the tap. 5. The terms of this Agreement shall apply only to the Property, and the water taps provided in accordance herewith may be used only upon the Property which must be located within the jurisdictional boundaries of the Metro District and Water District. The parties hereto agree that this Agreement shall be an intergovernmental service contract subjecting the Property to all terms, provisions, and limitations set forth herein, which Agreement may be recorded establishing covenants running against the Property itself. 6. The Company shall provide the Water District with an accurate copy of the final plat of the Property to be served by the Water District. If the plat must be approved by the County Commissioners, then a copy of the final plat recorded with the County Clerk must be provided to the Water District. 7. The Company hereby grants to the Water District and Metro District the right to enter upon the Property and all roads, rights -of -way, and utility easements described on the final plat of 6 the Property to construct, operate and maintain the facilities herein described, together with the right of ingress and egress and the right to cut and trim trees and shrubbery to the extent necessary. The Company shall convey to the Water District all easements reasonably required by the Water District for facilities which are not located in dedicated roads, rights -of -way, or utility easements, on the District's form of easement, and the Water District shall not be responsible for any delay in providing service to the Property in the event of failure to provide such easements. This provision of the Agreement shall be specifically enforceable by the Water District. 8. The water facilities herein described are required by dates to be subsequently specified by the Metro District and Company. In the event the Water District installs any such facility, the Water District shall use reasonable diligence in completing such facility by the specified date. If such facilities cannot be installed because of act of God, governmental authority, action of the elements, accident, strikes, labor trouble, inability to secure materials or equipment, or any cause beyond the reasonable control of the Water District, the Water District shall not be liable therefor or for damages caused thereby. 9. In the event that the Water District installs such facilities, the Water District shall install the facilities described herein in accordance with good engineering and construction practices after the Company has established platted property lines and the Metro District has excavated streets, rights -of -way, and easements to final grade and prior to the paving of streets and construction of curbs and gutters, if applicable. The Metro District or Company, as applicable, shall reimburse the Water District for any expense due to subsequent changes made by the Metro District or Company. 10. Water service shall be provided to individual customers on the Property located within the Metro District at the applicable rates adopted from time to time by the Water District for all 7 • • customers within the jurisdictional boundaries of the Water District in accordance with Water District rules and regulations as now established or as may hereafter be established. On or before the date that payment is made as required in Paragraph 2.C. of this Agreement, the Company agrees to petition to the Water District to include the Property into the Water District and to pay all costs associated with the inclusion process and to do all other necessary acts to include the Property within the Water District. if the Metro District and Water District determine that it is necessary and desirable to acquire Colorado -Big Thompson water units ("CBT Water") from the Northern District to serve the Property, the Company also agrees to petition to the Northern District to include the Property into the Northern District and to pay all costs associated with the inclusion process and to do all other necessary acts to include the Property into the Northern District. No water service shall be provided except to the Property included within the boundaries of the Metro District, Water District, Northern Subdistrict, and if CBT water is to be utilized thereon, Northern District. All parties agree that no other person or property shall be permitted to receive such water service which is to be furnished only to the Property in accordance with terms and provisions of this Agreement. 11. The Water District agrees to allow installation of 800 residential equivalent water taps (with no more than 100 tap installations per year, unless specifically approved by the Water District) within the Property which shall be located within the Water District and Metro District, subject to all terms and provisions of this Agreement. All water taps greater than five - eighths inches shall be approved by the Water District. No water taps will be served by the Water District until all applicable terms and conditions of this Agreement have been complied with by the Metro District and Company, including the transfer of the above -described water rights. The Water District acknowledges and agrees that the Property will be developed in various phases and that all such water supplies, mains and related facilities specified in this Agreement shall be acquired, provided, and 8 • • transferred to the Water District incrementally according to each developmental phase as approved by the Water District, which approval shall not be unreasonably withheld. The water taps furnished hereunder may be used only on the Property which is located within the Metro District, unless otherwise expressly approved in writing by the parties hereto. Any transfer of water taps toother property shall be made in accordance with the terms of a supplemental written agreement and the requirements of the Water District and its rules and regulations. Any right to receive a water tap option or water rights credit under this Agreement, whether upon the Property or at any other place, shall expire and become null and void twenty years after the date of this Agreement; provided that, after such date the Metro District shall have a perfected right to obtain a water tap from the Water District for use within the property if (i) raw water supplies therefor have been acquired by the Metro District or Company and transferred to the Water District, (ii) the monthly minimum charge (inactive service status) for such water tap is paid to the Water District, and (iii) the Metro District and Company comply with all other Water District rules and regulations. The Metro District and Company shall not encumber, mortgage, or collaterally assign such water tap without the prior written consent of the Water District. The Metro District and Company shall not encumber, mortgage, or collaterally assign such water taps without the prior written consent of the Water District. In all other respects, such water taps or water rights credits shall be treated as the personal property of the Metro District or Company, as applicable. 12. The Metro District, Company, and future customers within the Property agree to abide by all rates and rules and regulations of the Water District as now established or as may hereafter be established by the Water District; provided that all such rates, rules and regulations shall be uniform throughout the Water District and consistent with the express terms and provisions of this Agreement; provided, however, that the Water District may establish different rates and other criteria for service within areas of the Water District as provided by statute. The Water 9 District shall not be liable for any injury or damage for failure to deliver water for any reason, including but not limited to war, riot, insurrection, Act of God, or breaks or failure of the water system. 13. This Agreement may be amended from time to time by a written agreement between the parties hereto signed by the duly authorized representatives of such parties. No agent or representative of the Water District. or Metro District has the power to amend, modify, alter or waive any provision of this Agreement. Any promise, agreement or representation made by an agent or representative of the Water District or Metro District not herein set forth shall be void and of no further force or effect. 14. The Metro District and Company understand and agree that all fees, rates, tolls, penalties or charges for services, programs, or facilities furnished by the Water District in accordance with the terms of this Agreement constitute a perpetual lien on the portion of the Property served, and that such lien may be foreclosed in the manner provided by State law, pursuant to Section 32-1-1001(1)(j), C.R.S. In the event that the Metro District, Company or any individual customer, as applicable, fails to abide by any of the terms or conditions of this Agreement, the applicable party which is responsible therefor shall pay all costs and expenses incurred by the Water District as a result of any such breach, including direct and consequential damages, loss of revenue, attorney fees, court costs, expert witness fees, and other expenses. 15. This Agreement shall be binding upon and inure to the benefit of the heirs, personal representatives, successors, and assigns of the parties hereto. Except as provided herein, this Agreement shall not be assigned without the prior written consent of the Water District. 10 • • 11 16. The Agreement dated October 30, 1985, between the Water District and Beebe Draw Land Company, Ltd., relating to the Property has been terminated in accordance with its terms and is no longer effective. The Metro District and Company acknowledge and agree that such Agreement is terminated and of no further force or effect. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. CENTRAL WELD COUNTY WATER DISTRICT (611;&ae aident t ( S E A L ) Attest: Qt1Aiki4-141/ Ga Secretary Date: /,[.y 20 , 1995 STATE OF COLORADO ) as. COUNTY OF The foregoing instrument was acknowledged before me this a2egAC day of 'rid , 1995, by as President an 'rt.rvite 6<) /9 as Secretary of the Central Weld County Water District. Witness my hand and official seal. My commission expires: .4i . 365 /997 BEEBE DRAW FARMS METROPOLITAN DISTRICT STATE OF COLORADO as. By Ja Atte= : Thomas A. Burk, Secretary Date: June 27, 1995 COUNTY OF JEFFERSON ) The foregoing instrument was acknowledged before me this 27th day of June, 1995, by James W. Fell as President and Thomas A. Burk as Secretary of the Beebe Draw Farms Metropolitan District. Witness my hand and official seal. ;Myjycommission expires: 11/30/96 a *?. . •iiraj%itFI Notary Public 12 BERIBITA Leaal Description of Comnanv Property The Property of Company referred to in the foregoing Agreement for Water Service is situated in Weld County, Colorado, and is more specifically described in that certain Sheriff's Deed dated June 17, 1994, recorded in the County records at Book 1447, Folio 0575, Reception No. 02393929, a copy of which is attached hereto as Exhibit A-1 and incorporated herein by reference. EXHIBIT A B 1447 REC 02393929 06/17/94 16:25 $70.00 1/014 F 0575 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO ARarula1 DISTRICT COURT, WELD COUNTY, COLORADO Case No. 93 CV 214, Courtroom I SHERIFFS DEED REX LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, Plaintiff, V. BEEBE DRAW FARMS, LTD., a Colorado limited partnerships DRS. ELLIOTT, MALSETH i WALKER, P.C., FROZEN PENSION PLAN, formerly known as DRS. ELLIOTT, HALSETH & WALKER, P.C., DEFINED BENEFIT PENSION PLAN, also known as DRS. ELLIOTT, NANSETH i WALKER DEFINED BENEFIT PENSION PLAN, a trust; LANDE MANUFACTURING COMPANY RETIRENENT'PLAN AND TRUST, a trust; DARREL BENSON; WILLIAM S. ORIPMAN; W. GERALD RAINER, M.D.P.C. EMPLOYEES DEFINED BENEFIT PENSION PLAN, a trust; COLORADO CONTAINER CORPORATION EMPLOYEES DEFERRED PROFIT SHARING TRUST, a trust; RICHARD E. SLAUGHTER; RICHARD E. bAMIANo; C. L. PHILLIPS & ASSOCIATES, INC. PROFIT SHARING PLAN, a trust; COLORADO CONTAINER CORPORATION PENSION TRUST, a trust; ROLLIE R. KELLEY; BEEBE DRAW CATTLE CO., a Colorado limited partnership; and JAMES N. XADLECEX, as the Public' Trustee in and for Weld county, Colorado; Defendants. THIS DEED is made June 17, 1994, between ED JORDAN as the Sheriff of the County of Weld, State of Colorado, and RBI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, grantee, the holder of the certificate of purchase, whose legal address is 4221 Monaco Street, Denver, Colorado 60216. WHEREAS REX LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, did, in the District Court for the County of Weld, Colorado, obtain a judgment and decree against BEEBE DRAW FARMS, LTD., dated January 14, 1994, directed to the Sheriff of the County of Weld, Colorado; and WHEREAS, by virtue of said judgment and decree, the sheriff levied upon the property hereinafter described and, after public notice had been given of the time and place of OCT 21 '94 10:00 3035340514 PPGE.002 stt B 1447 BBC 02393929 06/17/94 16:25 $70,00 2/014 P 0576 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO sale as required by law, said property was offered for sale and sold according to said notice, and a certificate of purchase was made and recorded in the office of the County Clerk and Recorder; and WHEREAS, all periods of redemption have expired; NOW, THEREPoRE, I, ED JORDAN, sheriff of the County of Weld, Colorado, in consideration of the praises, confirm the sale and sell and. convey to grantee the following described property located in the. County of Weld, State of Colorado, more particularly described in Exhibit A attached hereto, consisting of twelve (12) pages, moor- porated herein by this reference as though fully set forth, and including all land lying in the bed of any street, road avenue, alloy, stream or river, in front of or adjoining the property; all buildings, structures and improvements now on the property, and all fixtures, equipment, appliances and furnishings attached thereto; all proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards; all the rights (including water rights and shares of water stook), permits, hsreditaments and appurtenances thereto belonging or in any way appertaining; and all the rents, issues, uses, profits and income from the property. TO RAVE AND TO HOLD the same, with all appurtenances, forever. STATE OF COLORADO COUNTY OF WELD ) s. ED JORDAN, Sheriff of the County of Weld, Colorado QQ EyeZtit "Ainstrument was oknpwledged before me this day of June, 1994, by Th9X4 SMtdARTL as peputy Sheriff of the County of eld, Colorado. i , .. .Witness my hand and official seal. ��', sr commission expires; /i (o ' 44 U t4 OCT 21 '94 10:01 3035340514 PAGE -003 B 1447 REC 02393929 06/17/94 16:25 $70.00 3/014 F 0577 MARY ANN FEUER:TEIN CLERK A RECORDER WELD CO, CO EXHIBIT A TO SHERIFF'S DEED i• r t A tract of land located in Sections 3, 4. 6. 1. 9. 10 15, 11, end 11, Township 3 North. Range 6S West of the Sixth Principal Meridian, 1410 County, Colorado, being more particularly described as follows: Beginning at the Southeast Corner of said Section 16 and considering the ' South lino of said Section 16 to bear S 61' 27' 03' V with all bearings herein being relative thereto; Thence along the South line of said Section 14, f Sr 17' 03' V. 1131.13 feet to the Southeast Corner of said Section 17;• Thence along the South line of said Section 17 S 69' 33' CO' It, 6321.41 feet to the Southwest Corner of said Section 17; Thence along the West line of said Section 17. N 00' 39' 67' V, 1219.11 feet to the Northwest Corner of said Section 17; Thence along the Vest line of said Section $, N 00' 09' 36' N. 1292.31 feet to the Northwest Corner of said Section 1; Thence along the Vest line of said Section 5. M 00' 14' 67' N, 3911.69 fact -to the Southwest terser of the North Half of the Morthwest'Quarter of said Section 6; Thence along the South line of said North Ralf of the Northwest Quartos' of Section 6 M I9' 44' 30' t, 1631.14 feet to the Southeast Corner of the North Half of the Northwest Quarter of said Settle' i; Thence along the South line of the Northwest Quarter of the Northeast Quarter of said Section 6 N 19' 44' 27.' t, 1331.66 feet to the Southeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 6; •— •• —.Thence along the last line of the Northwest quarter of the Northeast tarter.; of said Section 6 N 00' 31' 12' W. 1325.31 feet to the Northeast Corner of the Northwest Quarter of the Northeast Quarter of seed Section 1; • Thanes along the North line of said Section 1. I SI' 40' 1S' I. 1333.11 feet to the Northeast Corner of said Section 6; Toone along the North line of said Section 4. 119' 31' Or t, 3431.41 feet• to the Point of Intersection of the North Line of said Section 4 with the • centerline of the Platte Yally Canal; page 1 of 12 OCT 21 '94 10:02 3035340514 PRGE.004 .f • 7 0576 B 1447 NARY 02393929 ANN PRU$RST=06/17/94 INCLERK & RECORD4/014 ER WELD cm, CO Thence S 40' 04' 03' E. 16.61 fest; Thence along the centerline of the Platte Volley Canal as recorded in loot 1068. Reception No. 02001616 of the Veld County Records. by the following 2S courses I • 1 • S 30' 09' 07' W. 45.49 feet; 2 • 3 27' 01' 47; V. 281.98 feet; 3 • 5 35' 02' 43' V, 129.95 feet; 4 G. S 46' 24' 28' V, 113.15 feet; S • S 67' 84' 02' V. 114.41 feet; 6 - 158.51 feet along the arc of a curve to the left, having a central ' angle of 43' 14' 12' and a radius of 210.00 feet. and a long chord that bears S 46' 18' 36' V, 254.78 feet; 7 • S 24' 41' 10' N, 39.72 feet; 8 • 255.45 feet along the arc of a curve to the left. having a central angle of 48' 10' 08" and a radius of 211.23 feet. and a long chord *that beers $ 09' 23' 84' E. 243.48 feet; 9 • S 43' 28' q' S. 189.17 feet; 10 • 69.10 foot along the are of a curve to the right, having a central 4$ angle of ' 38 11'. and a radius of 81.86 feet. end a long chord that bears S 19' 09' 63' t. 67.43 feet; '11 . $ OS' 09' 12' V. 19.to rest;' ' ' •- •-' - -- 12 - 117.14 feet along the ere of a curve to the right, Patel a central • angle of 28' 14' 10'. end a radius of 206.90 feet, and a long chord . that bears 3 18' 06' 17' Y, 116.1$ feet; 33 - S 31' CO' 22' Y. 130.58 feet; 14 . S 09' 40' 40' W. 46.26 feet; 18 • 3 03' 11' 43' t. 116.07 feot; 16 • 114.85 fest along the arc of a curve to the left, having a central angle of 36' 30' 36'. and a radius of 180.24 feet, end a long chord that bears 3 21' 27' 01' C. 112.92 feet; Page 2 of 12 OCT 21 '94 1003 3035340514 PROE.005 8 1447 lac 02393929 06/17/94 16:25 $70.00 5/014 ! 0579 MARY ANN PEUERSTEIN CLERK i RECORDER WILD CO. CO 17 • S 39' 42' 18' 5, 116.57 feet; 18 • 90.03 feet along the arc of a curve to the left, levier a Central angle of 45'. 22 31', and a radius of 114.12 feet, and a long sherd that bears S 62' 23' S4' C, 11.57 feet; 19 • $ is' 04' 50' 2, 170.71 feet; 20 • 151.01 feet along the art of a curve to the right. having a central angle of 61' 19'.10' and a radius of 124.33 feet. and a long chord that beers S 50' 50' 04' 5, 142.11 feet; 21 - $ 14' 34' 11' 5, 120.95 feet: 22 • 196.61 feat along the arc of a curve to the right, having a Central angle of 25' 35' 07' and a radius of 440.41 feet, and a long chard that bears S 03' 47' 46' E, 195:04 feet; 23 • 3 Q$' 59' 41' W, 101.24 feet: 24 • 251.82 feet alone the are of a curve to the left, having a central angle of 59' 32' 10', a radius of 242.34 feet, and a long chord that bears S 20' 46' 16' t. 240.44 feet; 25 • $ SO':32' 21' E, 97.59 feet; Thence N 84' 31' 39' E, 2111.76 feet; Thence N 17' 52' 53' N, 310.92 feet; Thence N'$9' 31' 39' 5, 337.17 feet; Thence N 00' 28' 21' N, 150.00 feet; Thence N II' 31' 39' 5, 1187.95 feet; Thence 3 00' 14! 30' N, 680.17 feet; Thence S 88' 41' 23' 2. 71.13 feet; Thence S 32' 49' 31' t, 19.72 feet; Thence 1 77' 10' 11' N, 30.00 feet; Thence S 12' 49' 43' 1, 30.00 feet; Thence N 77' 10' 18' 1, 30.00 feet: Pegs 3 of 12 OCT 21 '94 10:03 3035340514 PR[E.006 a 1447 aRC 02393929 06/17/94 16:25 {70.00 . 6/014 F 0680 NARY ANA YRUIISTEIN CLRRK & RECORDER WILD CO, CO Thence S 12' 49' $6' t, 14.11 feet; Thence S 19' 28' 28' E. 608.59 feet; Thence S 43' 52' 1S' E, 959.19 feet; Thence $ 11' 49' 10' E, 159.59 feet; Thence $ 60' 06' 36' E, 1097.85 feet; 4 Thence S 22' 11' 13" E, 2189.07 feet; Thence S 17' 6S' 41' M, 814.01 feet to a point on the north line of a tract of elWeld CountyeRecords;Thence alone said northk 1068 under eline bytthe folloowwinne $ of courses: 1 • S 38' 04' 26' Y. 66.71 foot: 2 - S 70' 24' 28' M. 210.30 feet; 3 - N 66' 42' 40' V, 1366.02 feet; 4 - M 44' 48' 60' V, 1115.90 feet; $ - S 71' 20' 00' V1 138.08 feet;. Thence S 71' 20' 00' V, 040.88 fest; Thence S 43' 34' 00' E. 318.00 feet; Thence S 16'.141.00' 8, 176.00 feet; Thence S CO' 40' 00' E, 380.00 feet; Thence S 27' 02' 02' M, 73.00 feet; Thence N 65' 16' 00' V1 155.00 feet; Thence N 58' Of' 00' V, 462.00 feet; Thence N 68' $P' 00' 11. 286.00 feet; Thence S 31' 13' 00' V. 248.00 feet; Thence S 80' 26' 00' V, 194.00 feet; Naga 4 oL 12 S. .. ... ..., 0 • OCT 21 '94 10:04 3035340514 PRGE.007 s 1447 ROC 02393929 06/17/94 16:25 $70.00 7/014 p 0581 MARY ANN FEUERSTSIR CLERK & RECORDNR WILD CO, CO Thence N 65' 07' 00• N. 214.52 feet to a octet as the east boundery Of 1 tract of land described in Exhibit 'A', look 1061, Receptin N0. 02001614 or the Veld County Recordsi Thence along said east boundary by the following 13 Courses: 1-N25'11'61'11, 2-N 35' 35' a' N, 3-N59'49'U'V, 4 - N 34' 41' 43' V1 5•N40'48'08'1, 6 -N 72'48' 51' E. 7-N 31' 54' 29' to a -N 17' 31'32'!. 9 N 20' 04. 17' V, 10•N07.06'02'V, 11 - N 11' 50' Or V. it • N 33' 54' 0r' V, 43.34 feet; 245.27 feet; 52.20 feet; 94.87 fat; 151.16 feet; 101.53 feet; 42.43 feet; 99.77 feet; 110.72 fest; 291.23 feet; 107.21 feet; 190.60 feet; • 13 - N 07' 02' 17' M, 163.23 feet to a point on the east boundary of a tract of land described in Exhibit 'I', Nook 1061, Reception No. 02008511 of the Weld County Records; Thence along nil east boundary, end done the northerly and a portion of the westerly bounden of said tract of land by the'followine 55 courses: • • • . ••••••:— • 1 • N 36' O' 35' E, 143.90 feet; 2 - N 57' 06' 34' M, 102.30 feet; 3 • N 45' 59' 14" M, 50.60 feet; 4 - N N' 2Z' 13' N, 50.23 feet; 6 - I 71' 52' 38' M, 60.07 feet; 6 • N 74' a0' 37' V, 60.00 feet; 7 - N 77' 01' 49' V, 50.04 feet; Rego 5 of 12 • 0CT 21 '94 1005 3035340514 PRGE.008 B 1447 1 0582 WAR02292929 ' 16:25 yANN 9NUNRNTNINCLERK A RNCoRDNN�WILD CO, OCO •R e -N19'12' 69' N, 50.19 feet; 9 N 71' 18' 20' It, 60.13 feet; 10 • M 71' 22' 24" .•50.06 feet; 11 - N 15' 11' 44' N. 50.00 feet; 12 • N 72' 56' 14, W, 60.01 feet; 13 - N 75' 19' S9' W, 50.01 feet; 14 • N 74603' 33' W, 60.08 feet; 15 - N 77' 49' 51' W, 60.07 feet; 16 - N 78' 30' 57" W, 50.10 feet; 17 - N 1/' 50' 24" W, 75.:8 feet; 18 - N 27' 27' 03' W, 144.80 feet to a point on the south 11ne of sail Section 3; 19 - N 21' 27' 03'W, 41.51 feet; ••20 • N 38' 44' l6' W, 50.00 feet too point on the oast line of said Section 4; 21 - M 38' 44' 16' k, 20.57 feet; 22 - N 31' 14' 55' W, 50.03 feet; 23-N38'61'09.11, 50.00 fttt, 24 • M 31' 44' 09' W, 50.00 feet; 25 - N W 18' 17' V, 39.87 feet; 26 - N 11' 21' 47' W, 11.16 feet; 27 - N 10' 11' 36" N, 100.03 feet; 21.- N 11' O6' 14" V. 60.00 feet; 29 - M 10' 11' 15' M, 50.01 feet; 30 • M 09' 43' 45" V. 50.02 feet; Page 6 of 12 M.. 2." 0CT 21.'94 1005 unzs'+amS14 PRGE.009 2 1447 REC 02392999 06/17/94 16:25 $70.00 9/014 8 0583 MARY ANN PRUERSTEIN CLERK a RECORDER VELD CO, CO •R 31 - N 09' 16' 15' V, 50.04 feet; 32.- N 11' 47' 2!" V, 50.00 feet; 33 - M 15' 27' 08' V. 50.12 feet; 34 • N 17' 02' 45' V, 100.45 feet; 3S - P 88' 04' 22',V. 6.11 feet: 36 • N 55' 05' 47' V. 48.88 feet; 37 - N 28' O2' 02' N, 24.62 feet; 38 - N 01' 59' 49• E, 64.86 fast; 39 - N 24' 17' 59' V, 51.56 feat; 40 - N 34' 33' 13' V, 50.12 feet; 41 - N'38' 26' 37' V, 50.00 feet; 42 • M 42' 33' 13' V, 50.13 feet; 43.- M 61' 52' 0d" V, 76.22 feet; .44 - N 81' 17' 02" E, 139.17 fast; 45 - N 03' 4S' 51" V, 390.12 feet; 46 N 7n' 52' 01' V, 116.11 feet; 47 - N 72' 17' 16' V, 122.30 feet; 40.. N 55' 31' 25' V, 111.61 feel;' 41 - N 31' 16' 35" V, 1063.17 fat; 50 - $ $5' 31' 52' V, 57.39 feet; 51 • $ 31' 28' G6• E, 412.16 feet; 52 - $ 30' 42' 10' Is 31.11 tut; Si • $ 10' 25' 09" E, 63.36 feet; 5a • 68.62 feat along the arc of a curve to the left, having a central angle of'23' 10' 57', a radius of 151.50 feet, and a long chord that bears south 22',05' 08' E. 68.14 feat; Page 7 of 13. OCT 21 '94 10:06 3035340514 Pii3E.010 8 1447 1:80 929 P 0584 NARY 0 S ANNSSURRSTO/16:25 INCLERKARIC0RDIR:WILD CO CO 55 - S 33' 4$' 06• E. 52.211 feet; 56 - $ 35' 27' O3' C. 30.14 feet; Thence S 51' 32' 51' N. 94.00 feet to a point on the nett boundary of_a tract of land described in Exhibit 'A', look 1061. Reception No, 02000614 of the_Veld County Records; Thence slots said rest boundary by the following $1 courses: 1 - S 00' 23' 32' t. 177.92 feet; 2 - S 10' 11' 17' t. 78.26 feet; 3 - S 30' 46' 13. 1. 152.46 feet; 4'. S 47' 66' OA' t. 110.45 feet; 5 - S 64' 54' 51' I, 51.19 feet; 6 - S 33' 41' 24' E. 43.27 feet; 7 - $ 65' 27' 44' t, 50.57 feet; 8 - S 1$' 58' 39. 1, 58.52 feet; • N 72' 38' 46' N, 16.76 feet; 10 - N 30' 27'54• N. 39.45 feet; 11 - $ 66' 41' 0$' V. 53.31 feet; 12 • S 37' 58' 1R' V, 52.01 feet; 13 - S 01' 53' 31' N, 121.07 feet; 14 .S 19' 17. 24' N. 63.17 feet; 15 - $ 05' 0$' 41• N. 85.18 feet; • 16 - S 33' 32' 10' t, 103.17 feet; 17 - S 51' OS' 11' t, 52.43 feet; 18 • S 76' 52' 47. 2, 136.17 feet; 19 - S 67' 47' 47' t, 52.92 feet; Pegs 6 of 12 • • • OCT 21 '94 10+06 3035340514 PRGE.011 -- :—..r.-7....rej- $ 1447 RAC 02393929 06/17/94 16:25 $70.00 11/014 F 0585 MARY ANN ?AUARB'FAIN MAX 8 RACOSDAR WILD CO. CO 20 -.5 31' 64' 29' 2, 62.43 feet; 21 - S 12' 12' O2' 2, 75.71 feet; 22 - S 15' 36' 40' E, 70.60 feet; . 23 - S 00' 46' 46' I. 141.01 feet; 24 - S 40' 38' 56' 2, 130.48 feet; + 25 - S 04' 53' 57' E, 70.26 feet; 26 • S 24' 20' 26' M, 46.10 feet; , 27 - S 13' 34' 146.2. 59.67 feet; 28 - S 35' 26' 24' E. 118.59 feet to a point on the south lint of slid Section 4; 29 - S 35' 24' 24' 1, 11.65 feet; 30 - S 49' 59' 37' 2, 73.11 feet; 31 - S 83' 07' 06';E, 58.42 feet; 32 • $ 65' 05' 43' E, 92.61 feet; .33 • S 58' 24' 46' E, 69.35 feet; 34 - S 36' 36' 25' E, 43.60 feet; SS - S 24'.341.021.2. 38.48 feet; ../. 36 - S 40' 21' 52' 2, 105.00 feat; 37 - S 63' 26' 06' E. 36.45 feet to a point on the east line of said Section 9; 3e . S 63' 26' 06' 2, 37.34 feet; 31 - S 10' 42' 47' E, 112.97 feet; 40 - S 3S' 26' 45' E, 144,84 feet; Page, 0 of 12 0CT 21 '94 1007 3035340514 PHGE.012 B 1447 RBC 02393929 06/17/94 16:25 $70.00 12/014 P 0586 MARY ANN PRUERSTEIN CLERK A RECORDER WELD CO, CO 41 - S 62' 48' S5' 2.'146.60 flail 42 • S 67' 46' 30' E, 100.46 feet; 43 - S 63' 14' 47' E, 98.60 feet; 44 - S 36' 35' 28' E. $2.20 feet; ' 46 • S 26' 18' 03'•t, 59.06 feet; 46 - S 62' 31' 26' N, 37.80 feet; 47 - S 30' 03' U' Y, 163.70 test; 48 • $ 04' 58' 11' E. 46.17 feat; 40 - S 25' 58' 28' M. $6.76 fest; 50 - S 06' 03' ::' E. 66.37 feet; 51 - S 25' 51' 501 E. 110.02 feet; 52 - S 07' 28' $10.8. 99.65 feet; 53 - $ 31' 16' 29' E, 151.95 feet; 54 - S 18' 26' 06' t. 139.14 feet; IS • S 40' 20' 48' t, 122.02 feet; 56 - $ 24' 26' 38' Co 48.33 fist; 'si = S 046.2.11.25"t2. 105.30 feet=' $8 - S 29' 30' 41' 1, 174.35 feet to a point on the east boenear of a treat oRRec�s�e�ncsedalong ssaid0easstbeboundarr y.tAheefofollowing 6 cothe urses: d County . 1 - 3 37' 11' t6' E. 96.99 feet; t-562'03' 11' E. 69.66 fest;_ 3 - S 65' 31' 12' E. 146.66 feet; 4 - S 14' 11' 37• I, 13.93 feet; Page 30 of 12 . OCT 21 '94 10:00 3035340514 PRGE.013 .4 8 1447 REC 02393929 06/17/94 16;25 $70.00 13/014 P 0587 MARY ANN PEUEROTRIN CLERK a RECORDER VELD CO, CO 5 - $ 42' 52' 31' I. 177.49 feet; 6 - $ 2S' 01' 42• E, 48.21 feet; Thence S 2S' 09' 43' t, 106.10 feet; Thence $ 24' 47' 31' t, 110.70 feet; Thence S 34' 43' 51'.E, 144.03 feet; thence S 25' O6' 23' V, 111.19 feet; Thence S 02' 01' 5S' t. 221.19 feet; Thence $ 27' 01' 04' E, 93.92 feet; Thence S 13' 36' 48" t, 101.31 feet; thence S 24' 32' 47' E. 116.37 feet;. Thence S 06' 37' 27' E. 234.27 feet; Thence S 07'•03; 43'.Y. 151,41 feet; Thence 3 14' 47' 42' V. 113.31 feet; Thence S 05' 07' 42' V, 157.19 feet; Thence S 17' 5b' 26' N. 90.47 feet; Thence S 42' 18' 14" N, 134.52 feet; . thence S 11' 19' 41' N. 268.66 feet; Thence S 30' 21' 06' N, 184.39 Teet; Thence S.51' 40' 58' N, 106.19 feet; Thence S 79' 43' 10 16 714.61 feet; Thence S 24' $2' 12' N. 224.67 feet; Thence S 617' 13' 57' E, 10.72 test to a point en the North Line of said Section 11; Thence alone slid North line of Section 15 N 89' 28' 21' 1, 84.09 feet= thence S 00' 41' 91' t, 5264.17 feet to a point on the South Line of said Section 15; Pegs 11 of 13 NT 71 '04 10:017 303.5340514 PRGE.014 7 94 15:25 P 0588 8110 YANN P28228rSIN'CLIR& & 12C0aoxR.WELD CO,OCO thence along said south line of said Station 1$ 519'4$'$5W, 331.01 feet to the TRUE POINT Or 6t0XNNINa$ includinmthat portion thereof platted as BESSE DIAN PAINS AND rleoCdTER. 71R5i PILING rudder Revised l isedPlat and Reception No. 2137453, together with the rights of Grantor as Purchaser under Certificate of Purchase No. S-971 with The State of Colorado dated May 21, 1984 and recorded July 26, 1984' in ip1338 as North,eRangeon No. 65 Westlofsthhe,as to Section Sixth Principal16, Meridian, Weld County, Colorado. • •as evidenced by assignment recorded August 16. 1981 in Book 1205 as Reception No. 02151603 in the records of Wild County, Colorado Page 12 of 12 OCT 21 '94. 1009 3035340514 PRGE.015 • January 1994 PETITION FOR INCLUSION OF LANDS IN NORTHERN COLORADO WATER CONSERVANCY DISTRICT TO THE BOARD OF DIRECTORS OF NORTHERN COLORADO WATER CONSERVANCY DISTRICT 1. All the owner(s) of lands situated in the County of Weld , State of Colorado. hereby petition(s) and pray(s) that the lands hereinafter described be included in said Northern Colorado Water Conservancy District ('District'). 2. The description of the lands owned by the Petitioner(s) is as follows: PETITIONER DESCRIPTION SEC.TWP.ROE. ACRES REI Limited TLi abi lity 0mapany, dba Investors Limited Liability Company wvlMno & MJomKINTn ,op .000 See Exhibit A to Sheriff's Deed attached hereto as Exhibit I, except for that land described therein under Certificate of Purchase No. S-571 in Section 16, 'Ibwnship 3 North, Range 65 West (owned by the State of Colorado) Sections 3, 4, 5, 3,442 8, 9, 10, 15 and 17, Township 3 North, Range 65 West TOTAL ACRES INCLUDED CURRENT ASSESSED VALUATION OF LANDS TO BE INCLUDED AMOUNT OF INCLUSION FEE ENCLOSED 3,442 $ 18,340 235 3. A plat of the above described property is attached hereto as Appendix "C." 4. All the owner(s) of the above described property hereby agree(s) to pay to the District an amount which is equal to the ad valorem taxes which would have been paid to the District by the owners of the above described lands if said lands had been included within the boundaries of the District at the time of its creation. This amount will be calculated in accordance with the policy of the District, a copy of which is attached as Appendix "B." 5. All the owners) of the above described property and their heirs, successors, and assigns hereby agree to be bound by the Water Conservancy Act. C.RS. § 37-45-101 et. seq., as. amended from time to time, and all rules, regulations, and policies of the District as amended or changed from time to time. 6. All of the owners) of the above described property hereby agree(s) that inclusion of the above described lands into the District Is conditioned on present and future payment of the same mill levies and special assessments as are levied or will be levied on other similarly situated property in the District at the time of inclusion of the Petitioner(s) lands. If such payments are not made on such equal basis, the inclusion of the lands can be s terminated for non-compliance with this condition if payments are not otherwise made. 7. All the owners) of the above described property have executed Appendix "A" attached hereto. THIS PETITION INCLUDING APPENDIX "A" MUST BE SIGNED BY ALL OF THE OWNERS OF THE ABOVE DESCRIBED PROPERTY TITLE (if in relation to a Partnership or a Corporation) Manager ADDRESS Investors Limited Liability Company 4221 Nbnaoo Street Denver, Colorado 80216 STATE OF COLORADO ) )ss County of:re CCKf)n_ ) The foregoing instrument was acknowledged before me this �3rd day of November A.D. 19 J[ �, by t^„ ) p l e• , Manager of REI Limited Liability Company, a Wyoming limited liability conpany, doing business in Niorado as Investors Limited Liability Conpany. Witness my hand and Seal. My commission expires: 1,:.? fin Ic r Notary Public Iwesuae a MJmlm.ls ,OOW ,N0 2 STATE OF COLORADO )ss County of The foregoing instrument was acknowledged before me this day of A.D. 19 , by Witness my hand and Seal. My commission expires: Notary Public "STATE OF COLORADO )as County. of The foregoing instrument was acknowledged before me this day of A.D. 19_, by Witness my hand and Seal. My commission expires: Notary Public STATE OF COLORADO )ss County of The foregoing instrument was acknowledged before me this day of A.D. 19 , by Witness my hand and Seal. My commission expires: Notary Public M1WbI.W0 awvTaf00 FOAM 4400 3 APPENDIX"A' Purpose The purpose of this covenant is to subject Petitioner's property, described in the petition for inclusion and court order for inclusion, to the same mill levies and special assessments as are levied or will be levied on other similarly situated property in the Northern Colorado Water Conservancy District ','District") at the time of inclusion of Petitioner's lands. Waiver Petitioner hereby waives any right which may exist to require an election pursuant to article X, § 20 of the Colorado Constitution before the District can impose the mill levies and special assessments specified below. Petitioner also waives any right which may exist to a refund pursuant to article X. § 20 of the Colorado Constitution. ',Mill Levies and Special Assessments Upon inclusion into the District, and as an express condition thereof, Petitioner covenants to pay the following mill levies and special assessments: 1. Any Class A mill levy or special assessment levied annually by the District and imposed on other similarly situated property within the District. 2. If Petitioner's property is now or is in the future located within a municipality which has an existing or future Class B Allotment of water by the District, and if said municipality defaults on payment of its obligations under any existing or future Class B allotment contract(s) with the District, Petitioner agrees to pay any special assessment levied by the Hoard of Directors of the District for the purpose of collecting amounts due under the allotment contract(s). 3. Any amount due under any existing or future Class D allotment contract on Petitioner's property. Covenant to Run with the Land This covenant will run with and burden the property described in the petition for inclusion and court order for inclusion and binds all future owners of the property. ALL OWNERS OF THE ABOVE DESCRIBED PROPERTY MUST SIGN THIS APPENDIX "A," DATE ilfht Investors Limited 7.1 Ahi 1 ity Caa any 4221 Monaco Street Deriver, Colorado 80216 14/401IAND s NJO ME4TS FORMS 4400 APPENDIX "S" • NORTHERN COLORADO WATER CONSERVANCY DISTRICT RESOLUTION D-941-01-94 NORTHERN COLORADO WATER CONSERVANCY DISTRICT COLORADO -RIO THOMPSON VACUITIES INCLUSION FEE WHEREAS, the inclusion of lands into the Northern Colorado Water Conservancy District (District) makes those lands eligible to receive water from the Colorado -Big Thompson (C -BT) Project facilities; and WHEREAS, those lands and allottees of water originally included within the District commencing in 1938 have contributed to the cost of construction repayment. operation, maintenance, replacement and administration of the C -BT Project; and WHEREAS, a fee Ls necessary to place newly included lands and their eligibility for water from the C -BT Project facilities on the same basis as those lands originally included within the District. NOW, THEREFORE LET IT BE RESOLVED that: A fee shall be charged in connection with the inclusion of lands into the District for the purpose of placing such lands on an equal basis as lands originally included within the District. Such fee shall be collected on behalf of and deposited to the Colorado -Big Thompson Water Activity Enterprise Fund. This fee shall be calculated as follows: The sum of the historical (1937 to current year) ad valorem tax revenues received by the District from Larimer, Weld, and Boulder Counties divided by the current assessed valuation of the District lying within those same Counties times the current assessed valuation of the property to be included. Example: Revenues From 3 Counties To Date x Current Valuation of Current Valuations of District Property To Be Included Within 3 Counties For Calendar Year 1993 $ 48.388.184 x Current Valuation of Property $ 3.788,258,080 or 0.0128 x Current Valuation of Property The ratio determined above will be recomputed annually by the District and will be made available upon request. It will be the responsibility of the petitioner to furnish the current assessed valuation of the property involved at the time the petition for inclusion is submitted to the District. Satisfactory arrangements for payment of fees must be made with the District before the inclusion will be approved by the Board of Directors. Inv5ILNdD a Mlorl.®4R tarts ..co • EXHIBIT E (DEVELOPER FEE AGREEMENT] • • .476 PRVRT,OPER FEE 81l WATER TAP FEE AGREEMENT THIS DEVELOPER FEE AND WATER TAP FEE AGREEMENT is made as of this, iiith day of December, 1998, between BEEBE DRAW FARMS METROPOLITAN DISTRICT, hereinafter referred to as "District", a quasi -municipal corporation and political subdivision of the State of Colorado duly organized and acting pursuant to the provisions of Article 1, Title 32, C.R.S., and REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company doing business in Colorado as Pelican Lake Ranch and Investors Limited Liability Company, hereinafter referred to as "Developer". RECITALS A. The District was organized to provide water, streets, drainage and safety protection, and parks and recreational services and facilities within its service area; and B. The Developer is the fee owner of certain real property, hereinafter referred to as "Development", situate within the District and which requires services and facilities from the District prior to the development and sale thereof; and C. In order to provide adequate services and facilities to the Development and to other property within the District, it is necessary to acquire a water supply and to construct a water distribution system, streets, drainage and safety protection facilities, and parks and recreational and related facilities, hereinafter referred to as "Facilities"; and D. The Developer wishes to participate in funding the costs of the Facilities, which will assist in making services and facilities available to all property within the District; and E. Without such participation, the District would not acquire or construct the Facilities, which will benefit all property within the District; and F. In order to complete the acquisition and installation of the Facilities, the District will, from time to time, enter MMOWSWMMTACIR I IINI11111111JIII 11111111111111111111111111111 IIII 1111 1001470 12/ 0/3000 01a3U w.0 Counly co 1 of 17 R 00.00 D 0.00 JA tuki Toukoueoto • • into agreements to construct and borrow funds in the amounts needed to finance the costs of the Facilities, subject to all terms and conditions hereinafter set forth, and the Developer agrees to pay developer fees and water tap fees for its property within the Development, which will generate revenue to the District to fund the costs of the Facilities, including costs of financing; and G. The completion of the Facilities will enhance the value of the Development and other property within the District and will serve a public use, and the mutual obligations and benefits created hereunder will promote the health, safety, prosperity, security and general welfare of the inhabitants and property owners within the District. AGREEMENT In consideration of the mutual covenants, agreements, conditions and undertakings hereinafter specified, the District and Developer agree as follows: ARTICLE -1. Section 1. Definitions. For -all purposes hereunder, unless the context indicates otherwise, the terms defined in this Section 1 shall have the meanings set forth below:. a. "Agreement" means this Developer Fee and Water Tap Fee Agreement and any exhibit or amendment hereto. b. "Board" means the duly constituted Board of Directors of the District. c. "Bonds" means any bond, note, or other obligation of the District. d. "Developer" means the REI Limited Liability Company, a Wyoming limited liability company doing business in Colorado as Pelican Lake Ranch and Investors Limited Liability Company, or its successor, transferee, or assign. 111111111111 II11111111Iilll Nill IIE11 IU 11111IIII 1111 2001470 12/10/1000 01130 UsId Ceun1Y CC 2 of 17 R 00.00 D 0.00 JR Sukt Tsukemolo e. "Developer Fee" means the fee to be paid to the District in accordance with the provisions of Article II, Section 2 of the Agreement. f. "Development" means the Beebe Draw Farms and Equestrian Center according to the PUD Master Plan recorded on December 21, 1984 in Book 1053 as Reception No. R-1992773 (File 3821; Envelope 2306) of the Weld County, Colorado, Clerk and Recorder, including all filings and subdivisions thereof and any amendment or replatting thereto, as more specifically described in Exhibit A attached hereto and incorporated herein by reference. g. "District" means the Beebe Draw Farms Metropolitan District, or its successor, transferee, or assign. h. ,"Facilities" means the water supply and water distribution system, streets, drainage, and safety protection facilities, parks and recreational facilities, and other facilities and improvements acquired, installed or financed by the District. i. "Fees" means the Developer Fee and Water Tap Fee. j. "Lien" means the lien established and referred to in Article II, Section 6 of the Agreement. k. "Lot" means any platted lot in the Development. 1. "Resolution" means any resolution designated by the Board of the District authorizing the sale and establishing the terms and conditions of the Bonds. m. "Water. Provider" means the Central Weld County Water District, a Colorado special district situate in Weld County, Colorado, which supplies treated water to, and operates the public water distribution system within the District in accordance with an intergovernmental agreement. n. "Water Tap Fee" means the fee to be paid to the Water Provider for the District in accordance withthe provisions of Article II, Section 3 of the Agreement. I11111111111I111111IIi 111111111I1111111III.111111III III) 255117! 12/3!/1554 11�71P NoW County Co 3 of 17 R 84.55 D 0.00 JR Suk! T.uka,oto Section 2. Construction. For all purposes hereunder, unless the context indicates otherwise, the Agreement shall be construed as follows: a. All definitions, terms and words shall include both the singular and the plural. b. Pronouns shall include both the singular and the plural and shall cover both genders. c. Whenever "shall" is used herein, it shall be construed as mandatory; "may" denotes that it is permissible but not mandatory. 2TICT,F, TT Section 1. Warranties. Covenants and Representations. The Developer makes the following representations, covenants and warranties to the District: a. The Developer is the fee owner of all property within the Development and has good, marketable and indefeasible title to all property within the Development, subject to exceptions of record. b. The Developer has the full right, power and authority to enter into, perform and observe the Agreement, including the specific authority to encumber all property within the Development. c. Neither the execution of the Agreement, the consummation of the transactions contemplated hereunder, nor the fulfillment of or the compliance with the terms and conditions of the Agreement by Developer will conflict with or result in a breach of any terms, conditions or provisions of, or constitute a default under, or result in the imposition of any prohibited lien, charge or encumbrance of any nature under any agreement, instrument, indenture, judgment, order or decree of any court to which the Developer is a party or by which the Developer or the property within the Development are bound. 111111111111111111 IIII 11111111111111111 III "111'1'1 IIii 288478 12/18/18!8 01131 Mold County CO 4 of 17 R 88.00 D 0.00 JR Sukl Taukamoto d. The Developer agrees that all Developer Water Tap Fees will be paid in accordance provisions of this Agreement and that it shall perform, all of the covenants and agreements herein. e. The Developer may be held liable for suffered by the District as a consequence misrepresentation under subsections a., b. and c. Section 1. Fees and with the keep and contained any of of loss any this Section 2. Developer Pre. A Developer Fee shall be paid to the District by the Developer on or before the date of transfer and/or sale of each Lot. The Developer Fee shall be payable in the amount of $15,500 per Lot during the 1998 and 1999 fiscal years. For subsequent fiscal years, the Board may, from time to time, increase the amount of the Developer Fee as necessary to fund the actual costs of the Facilities, including costs of financing. The Developer agrees to pay Developer Fees for thirty-two (32) Lots in the 1st Phase of the First Filing of the Development on or before the following dates: (i) for ten (10) Lots by December 31, 1999; (ii) for another eleven (11) Lots by December 31, 2000; and (iii) for another eleven (11) Lots by December 31, 2001. If necessary to secure financing for the costs of Facilities needed to serve other phases of the Development, the District and Developer shall agree to a specific schedule of payments of Developer Fees for such phase of development prior to the commencement of construction. activities by the District. Section 3. Water Tap Pep. A Water Tap Fee shall be paid by the owner of the Lot to the Water Provider for the. District on or before the date of application for water service to each Lot, or as otherwise provided in the rules and regulations of the Water Provider. The Water Tap Fee shall be payable in the amount of $4,400 per Lot during the 1998 and 1999 fiscal years. For subsequent fiscal years, the Board may, from time to time, increase the amount of the Water Tap Fee as necessary to fund the actual costs of acquiring a water supply for the Development. The Water Tap Fee shall be paid in addition to all other rates, fees and charges of the Water Provider. Nothing set forth in the Agreement shall be construed to discharge the Developer or owner of any Lot from paying any rate, fee or charge imposed by the Water Provider for water service. IIIIII III Mitt Iill 11111111111111111 III 111111111 X111 0 of 17 ft 00.00 D 0.00 JR SuM Tsukamele Section 4. Method of Payment and jise of Fees. Fees shall be payable in cash or certified funds. Fees paid or remitted to the District may, in the Board's discretion, be applied to pay the costs of the Facilities or any outstanding debt of the District. Section 5. Unconditional Obligation. Upon execution of the Agreement by Developer, the obligation of Developer to pay, or cause to be paid, the Fees shall be absolute and unconditional, shall be binding and enforceable in all circumstances, and shall not be subject to setoff or counterclaim. Without in any way limiting the generality of the foregoing, such obligation shall not be affected by the exercise of any remedy hereunder by the District, termination of the Agreement, diminution of any of Developer's rights hereunder by judicial decree, legislative enactment or otherwise, failure of consideration, condemnation, or inability or'failure of the District or Developer to perform any obligation hereunder. Section 6. Lien. Fees payable with respect to each Lot, together with any interest thereon and costs to collect Fees, including reasonable attorneys' fees, shall, until paid, constitute a statutory lien against such Lot. In the event of non-payment of any Fees for any Lot, the Lien against such Lot may, in the Board's discretion, (i) be certified to the County Treasurer for collection as a delinquent fee for water services in accordance with the provisions of Section 32-1-1101(1)(e), C.R.S., or (ii) be foreclosed in the manner specified in Section 32-1-1001(1)(j), C.R.S., which the Developer hereby acknowledges and ratifies as being applicable. The District shall record the Agreement, and the Agreement shall constitute a statement of lien against each Lot within the Development, until paid and released in accordance with the terms of the Agreement. Section 7. Release of Lien. The District shall release the Lien against any Lot upon payment in full of the Fees payable on such Lot, together with any interest and costs secured by such Lien. Payment in full may occur either (i) with the making of the applicable payment to the District by the Developer or owner of such Lot or by the holder of a lien affecting such Lot, or (ii) upon designation of a sufficient amount of unallocated Fees to a specific Lot pursuant to Section 8 below. I11101'lll'IIIIII1II1IIIIIVIIIIIII111III"II'IIIIII'I 6 28147! 14/1!/1!8! 0io34P Ws!d Cotmty CO • • Section 8. nentgnation of payment of Fees. When Fees are paid to the District, the payer (whether the Developer or another person) shall designate to the District in writing whether the amounts paid are to be allocated to one or more specific Lots. Amounts which are allocated to specific Lots shall be entitled to a release of Lien as set forth in Section 7 above. Amounts which are not allocated to specific Lots shall be credited on the District's records as unallocated Fees. The Developer or such other payer may by written notice to the District subsequently designate specific Lots for which all or any portion of the unallocated Fees are to be applied; upon such notification, a release of Lien shall be issued pursuant to Section 7 above. Section 9. Default. The occurrence of any of the following events shall constitute an event of default under this Agreement: a. Any material misrepresentation under subparagraph a., b. or c. of Section 1, Article II of this Agreement; b. Any breach by Developer of the covenant contained in subparagraph d. of Section 1, Article II of this Agreement, unless cured within thirty (30) days of notice to Developer; or c. With respect to any individual Lot, any breach of the provisions of Sections 2 or 3, Article II of this Agreement, unless cured within thirty (30) days of notice to Developer and, if the name and address of the owner of such Lot has been provided to the District, to the owner of such Lot. An event of default which occurs under subsection (c) of this Section 9 shall constitute a default only for the Fees owing with respect to the affected Lot; any other event of default shall constitute a default with respect to all unpaid Fees. Notice of any default shall be provided to any lender specified in Section 8, Article III of this Agreement, and such lender may cure any default hereunder by payment in full of all amounts then due and payable within fifteen (15) days after written notice of such default has been given by District to such lender. 1111111111111111II'lll 11111 IIIII 1111111 III "III I"I IIII 1881478 12/18/1888 01:34P Wald County CO 7 of 17 R 85.00 D 0.00 JA SdU Tsukamoto Section 10. Remedies Upon Default. Upon the occurrence of any event of default hereunder with respect to any Fees, interest on such defaulted Fees shall accrue at the rate of twelve percent (12%) per annum, and the District shall have the following rights and remedies; (a) to declare by written notice any or all of such defaulted Fees immediately due and payable in full; (b) to collect or foreclose the Lien against the Lot for which the Fees are in default; or (c) to exercise any other right or remedy available to the District under this Agreement or permitted by law. The District shall be entitled to recover its costs and expenses, including reasonable attorneys' fees, in connection with any enforcement action, and such costs and expenses shall be secured by the Lien against the Lot to which such costs and expenses are allocable. ARTICLE III Section 1. Nature of Covenants. The covenants, obligations, terms, conditions and provisions set forth in the Agreement shall be construed as and, during the term of the Agreement, remain covenants running with and burdening all Lots and other property within the Development. Section 2. pond Reso1urinn. The Agreement shall be subject to the Resolution. Any provision of the Agreement in conflict with the Resolution shall be deemed to be superseded by the provisions of the Resolution. Section 3. Effective Date. The Agreement shall be in full force and effect and be legally binding upon each party at the time of execution by all parties hereto. Prior to approval of the Agreement by the District, the Developer shall not rescind his approval of the Agreement without the written consent of the District. Each party agrees to approve, adopt and execute any and all instruments, documents and resolutions necessary to effectuate the covenants, terms, conditions and provisions contained herein. Section 4. Term. The Agreement shall remain in effect until all Fees have been paid in full. Section 5. Pvilressors and Assigns. The Agreement, including any right to release of Liens hereunder, shall be assignable in 1101111011011011111MHIBMIMEMOHIII 2001470 12/1S/1055 01:34P Meld County CO 5 of 17 R 55.00 D 0.00 JA Suki Teukemelo • • whole or in part. In the event thereof, all covenants, obligations, terms, conditions and provisions contained herein and all amendments of the Agreement shall inure to and be binding upon the heirs, personal representatives, transferees, successors and assigns of the parties hereto. Section 6. Remedies. The remedies provided to the District hereunder are cumulative and are not intended to be exclusive of any other remedy to which the District may be lawfully entitled. None of the remedies provided to either party under the Agreement shall be required to be exhausted or exercised as a prerequisite to resort to any further relief to which it may then be entitled. Every obligation assumed by or imposed upon either party hereto shall be enforceable by any appropriate action, petition or proceeding at law or in equity. In addition to any other remedy provided by law, this Agreement shall be specifically enforceable. The Agreement shall be construed in accordance with the laws of the State of Colorado, and in particular Article 1, Title 32, C.R.S. All times stated herein are of the essence. Section 7. Waiver. No waiver by either party of any covenant, term, condition or agreement contained herein shall be deemed or construed as a waiver of any other covenant, term, condition or agreement, nor shall a waiver of any breach hereof be deemed to constitute a waiver of any subsequent breach, whether of the same or of a different provision of the Agreement. Section 8. Notices. All notices provided under the Agreement shall be in writing and shall be hand delivered or sent by certified mail, return receipt requested, to the following addresses: Diatrigt: Developer: Beebe Draw Farms Metropolitan District 11409 West 17th Place Lakewood, Colorado 80215 Investors Limited Liability Company 4221 Monaco Street Denver, Colorado 80216 In addition to the notice provided to Developer, the District shall also provide a copy of such notice to any lender of Developer previously certified to District. Either party by 11111111111111111110111111111111111111III11111IIII IIII 2081876 12/18/1818 01:24P hold County CO 9 of 17 R 81.00 0 0.00 JR Sukl Toukomoto • I written notice so provided may change the address to which future notices shall be sent. All notices shall be considered effective when mailed. Section 9. Sever4bility. If any covenant, term, condition or provision under the Agreement shall, for any reason, be held to be invalid or unenforceable, the invalidity or unenforce- ability of such covenant, term, condition or provision shall not affect any other provision contained herein. Section 10. Scunterpart,,q. The Agreement may be executed in multiple counterparts, each of which shall constitute an original, but all of which shall constitute one and the same document. Section 11. Amendment. The Agreement may be amended from time to time by agreement between the parties hereto. No amendment, modification or alteration of the Agreement shall (i) be binding upon the District or the Developer unless the same is in writing and duly executed by the parties hereto; (ii) be made in conflict with the Resolution; or (iii) adversely affect the owner of a Lot or the holder of a lien against a Lot without the written consent of such person. IN WITNESS WHEREOF, the District and Developer have executed this Agreement on the date and year hereinabove stated. BEEBE DRAW FARMS METROPOLITAN DISTRICT ATTEST: By: 1111111111111111111111 III11 IIIII 1111111 III 111111 III IIII 2001475 12/10/1550 01*34P Wild county CO 10 e1 17 R 05.00 0 0.00 JA Sukl tauk:moto 10 STATE OF COLORADO COUNTY OF �ee,cdot.. The foregoin Agreement was acknowledged before me this rh day �of 19'j', by James ^Fell as President and - M.Nl as Secretary of Beebe Draw Farms Metropolitan District. Witness my hand and official s My commission expires: REI LIMITED LIABILITY COMPANY, d/b/a Pelican Lake Ranch and Investors Limited Liability Company By: STATE OF COLORADO COUNTY OF .4,1(4e.„5 The foregoing Agreement wa acknowled14(0,-y ged before me this // day of ie e Lt.L , 1911_, by Katlic 12. K0 ,- y , Manager of REI LIMITED LIABILITY COMPANY, d/b/a in Col6rado as Pelican Lake Ranch and Investors Limited Liability Company. Witness my hand and official seal. My commission expires: 111111111111111111 iii Ilili 111111111111 III 111111 III lilt 2881478 12/18/1888 0144P Meld County CO 11 of 17 R $8.08 D 0.00 JR Sukl Tsukamoto Notary Public My��ES��1.A.V.. Um. COs• EXHIBIT E [DEVELOPER FEE AGREEMENT] H H U FINANCING PLAN N0 tY%i O0 Ui �bYpi W O Qmp� N r r N �$tD `� a n ^ 25� �', c� uS " M g§fo m o O ui N 302 �"i tV rn" M ig' �` ?fin.' �S ° 1i3 O i (n 'J�. yj S) 0 S N O O O? 0 0 YI N O N 488997 O N ryYf� 000000O § 00 0 O 000 8 N O O 8 yG Op 1p O M g d d- {�{{{yyyyy N Y M N Y O' 88 N pOpi" * G o S G p o b N 277,913 p� ` fv. d O O O O O f� ��pppp N O O 8 G O 00 O O W N pp'� f0 N 'AcM" {pp [O 8 O W I" pN d fM MI II 880 O Y01 0 O y1 N 426,214 {lo tD O 00 0 O 521,634 O8 V �n u� g - 0 O OO �Cp O� N (yp M .M- {p yN� M Np �Op tp �Ny M O O oO N O —. !r.O p a0 Zr" 0 O O O 0 O in p� Oi § S O� FQj A O O Q ssi� NN p n O1 A O O r Of N N O M ' O� a CO N O §1r! �Mp n 397,8751 CJ N O a O a O , O c p� N OO�o �� 7261 N. n 8sI •• 88 S�in RnO � 00 0 oyg Q O O �p o0p W Vdd f+l Or a00 N aa N 0 C yy Cpp'l N �p O G) ((t. fyy� iO fV S ppO N 8 p Op O VV 624,512! N IOr+I fQ p"p' O O O O a 2 N CC p O O 8 O O to p N p�_ N ��pp V R. rr 0 OO N p 00 pp Y11111 74 �tOO uTp N'I <<� O 0 CO OO�� 0 �Opf OppmI1I°q 0 N O M pl Of r.,-- fS� r r 1� 0 O N N O o0o N O 00 aD 207,115! oOp fJ r N t7 0 O e0 [dMam N 0 0 O a rD O W Spp�� 0 O 8 t O� O I O t�' c bn eD aND N N O fO N 8 O O E 8 pOo N 8 §N a 766,1721 A 8 t' O_ OD p O app P N O y� N N p O Owl pr) �Mp N N 0 08 ��.. 2 08 O 2 r 0 0 0 N Of O I 25,798 O N 8 §§ N O O 229,7421 ° E N O O 2 co 0§ d ' f�bDj [�l N 113,691[ !Revenue I Beginning Cash Balance Bond Proceeds Net of Issuance Costs Tap Fees - Central Weld (Note #1) Water Service charges $5/mo Developer Fees (Note #2) Interest Income (Note #3) Property Taxes - Oil & Gas (Note #4) Property Taxes - Residential (Note #5) Spec= Ownership Taxes (Note #6) Facilities Operation (Note #7) Conservation Trust Fund (Note #8) I Otal Revenue a� 2 C Er Oi GBT Water (Note #10) Roadway Paving (Note #11) Roadway Earthwork (Note #11) JI tntrance & Administration Bldgs (Note #12) Mosquito Control I Clubhouse, Swimming, Tennis (Note #13) Manna, Beach, Lake Christina (Note #14) Equestrian Center (Note #15) Water System - Ott Site Water System - On Site (Note #16) I o° 8 8fr2[88B N 0 (O .- O N �o3p V Y) N O O O oa �rQp Or O N a V N. fr NN 0 CO Y> 8 V a SS E 4 g pp § N 22282. n Ft. yy ap �Op a0 81- O N O) N N n a0 rG ,tp— �fN O al) N SN Q NV 04 v �C O 8 tOp § V pp a0 g's M C N 8 O s m 0�1 ryNi N ,-a coop; Y �6 f0 to t(.4� Ol CpPFRB C9 O�1 O �pPO 0 N E 222 M M m' 2 8 r OOH 8 (WpO� N rpp Ol om0 C: g 8 OVV RI. W N Pi co.ANA N O0O ^ M P 0) Lei O W T p O x �Vp tOp 2 aaDp g N tV taOppl 2 �Op p§p� N O O n Q § O N g oi of Y m pi M ce aD 8 W N b t((�� E N A n (p Mpff N a E 0 aco OOpH� OI a N O E ca.V V E O O NN �m E 0, t0 s t,0 M r N OI appp M A a.- app �O O) p O n N O A {� 10 U) N f0 m -trio 2 a e 2 g w Na trtpi aO 2 '- gq g N 3 ' (app Of a LI pVg N ' pg N a N IEEE' mieng 8 o o) s ry 8 g ro 8 g c6 3 8 0 0 i.1 N O § W N co 6,449,480' Oi Y al O O [Landscaping (Note #17) 0, Contingency (Note #18) Bond Interest (Note #19) Bond Principal (Note #19) d .1 r I 'Cash Available Cumulative y`o W 5 O • c y� B I 'Total Valuation ' a 3 i 'Population (Note #20) ' Assumptions to Proj E 8 8 N 0 W E 8 8 N 8 2 in m pQ 0 co 751 to WpC 2 tN a ay O I -tc Ownership Tax projected at 7% of Property Tax. N Based upon average of $1.15 per capita annually per actual Lottery distributions in 1998. its and Signage we based on First Phase Contract with Mountain Constructors, Inc. with the balance of the First Filing estimated by Milestone C c a p E n 0 c 2 2 0 m Po 5 to 8 w` 4 8 1 3 g 8 A 0 n a 8 costs we inflated at 3.5% per annum starting in 2000. Preliminary engineering • EXHIBIT G Debt Amortization Schedule Year Interest Principal Total Annual Payments 2,000,000 1999 129,660 0 129,660 2,000,000 2000 129,660 0 129,660 2,000,000 2001 129,660 5,000 134,660 1,995,000 2002 129,360 5,000 134,360 1,990,000 2003 129,060 70,000 199,060 1,920,000 2004 124,860 75,000 199,860 1,845,000 2005 120,360 85,000 205,360 1,760,000 2006 115,260 90,000 205,260 1,670,000 2007 109,860 95,000 204,860 1,575,000 2008 104,160 100,000 204,160 1,475,000 2009 98,160 110,000 208,160 1,365,000 2010 91,560 115,000 206,560 1,250,000 2011 84,200 125,000 209,200 1,125,000 2012 76,200 135,000 211,200 990,000 2013 67,560 140,000 207,560 850,000 2014 58,600 150,000 208,600 700,000 2015 49,000 160,000 209,000 540,000 2016 37,800 170,000 207,800 370,000 2017 25,900 180,000 205,900 190,000 2018 13,300 190,000 203,300 0 Balance • • EXHIBIT H [1997 FINANCIAL STATEMENTS] SUPPORTING DOCUMENTS # 5. LETTERS OF RESIGNATION FROM CHRISTINE HETHCOCK, TOM BURK, AND DAN SHELDON November 12, 2008 Ms. Christine Hethcock Gibraltar Companies, LLC 3600 S. Logan St., Suite 200 Englewood, CO 80113 Board of Directors Beebe Draw Farms Metropolitan District No. 1 do Collins Cockrel & Cole 390 Union Boulevard, Suite 400 Denver, CO 80228-1556 Re: Resignation from Board of Directors Dear Board: This letter is to serve as written notice of my resignation as Director from Beebe Draw Farms Metropolitan District No. 1, effective as of the date of this letter. Sincerely, Christine Hethcock {00136723.DOC v:1) toy 18 08 02:36p Thomas Burk, CFPOA 3031i-8175 p.1 November 18, 2008 Board of Directors Beebe Draw Farms Metropolitan District No. 1 c/o Collins Cockrel & Cole 390 Union Boulevard, Suite 400 Denver, CO 80228-1556 Re: Resignation from Board of Directors Dear Board: This letter is to serve as written notice of my resignation as Director from Beebe Draw Farms Metropolitan District No. 1, effective as of the date of this letter. i Thomas A. Burk n (00O6728.DOC v..1) November 12, 2008 Mr. Daniel R. Sheldon Gibraltar Companies, LLC 3600 S. Logan St., Suite 200 Englewood, CO 80113 ktall oard of Directors Beebe Draw Farms Metropolitan District No. 1 c/o Collins Coclo:el & Cole 390 Union Boulevard, Suite 400 Denver, CO 80228-1556 Re: Resignation from Board of Directors ard: This letter is to serve as written notice of my resignation as Director from Beebe Draw Farms Metropolitan District No. 1, effective as of the date of this letter. Sincerely, Daniel R. Sheldon (00136727.DOC v:l SUPPORTING DOCUMENTS # 6. COURT ORDER OF EXCLUSION OF REI PROPERTY GRANTED e moving party it hereby ORDERED to provide a copy of this Order to any pro se parties who have entered an appearance in this action within 10 days from the date of this order. District Court Judge DATE OF ORDER ON ATTACHMENT — District Court DISTRICT COURT, WELD COUNTY, STATE OF COLORADO Court Address: Weld County Court House 901 9'h Avenue Greeley, Colorado 80631 1986CV636 CO Weld County District Court 19th JD Filing Date: Dec 2 2008 9:44AM MST Filing ID: 22710404 A COURT USE ONLY • IN RE THE MATTER OF BEEBE DRAW FARMS METROPOLITAN DISTRICT NO. 1 Paul R. Cockrel Collins Cockrel & Cole 390 Union Blvd., Suite 400 Denver, Colorado 80228-1556 Telephone: (303) 986-1551 Facsimile: (303) 986-1755 E -Mail; pcockrel®cccfirm.com Atty. Reg#: 1964 Case No.: 86CV636 Div.: 1 Ctrm.: ORDER OF EXCLUSION THIS MATTER coming before the Court upon the filing of an Order of the Board of Directors of Beebe Draw Farms Metropolitan District No. 1 (the "District") granting the exclusion of certain real property from the District; and it appearing to the Court that the fee owner of such property, REI Limited Liability Company, a Wyoming limited liability company (the "Petitioner"), filed with the Board of Directors a duly acknowledged Petition, a copy of which has been filed with the Clerk of this Court, requesting that the Petitioner's property be excluded from the District; that a public hearing was held by the Board of Directors on October 20, 2008, at the hour of 6 p.m., at the Pelican Lake Ranch Community Center, 16502 Beebe Draw Farms Parkway, Platteville, Colorado, after a notice of the filing of such Petition and of the date, place and time of such meeting, and of the name and address of the Petitioner was published in accordance with statutory requirements in the Greeley Tribune, a newspaper of general circulation within the District, which proof of publication has been filed with the Clerk of this Court; that at a public meeting duly held on November 3, 2008, the Board of Directors, after making the findings required by statute, granted such Petition as to all of the real property owned solely by the Petitioner (as more specifically described in the Order of Exclusion) and made and entered an Order for Exclusion to that effect, which Order has been filed with the Clerk of this Court; and that in accordance with Section 32- {00142338.DOC/i GRANTED ilhe moving party Is hereby ORDERED to provide a copy of this Order to any pro se parties who have entered an appearance in this action within 10 days from the date of this order. A leu ts.:. 4444-1 District Court Judge DATE OF ORDER ON ATTACHMENT 1-501(4)(b), C.R.S., the Court is required to order the exclusion of the Petitioner's property from the District. IT IS THEREFORE ORDERED that the real property described in Exhibit A attached hereto and incorporated herein by this reference shall be excluded from the Beebe Draw Fauns Metropolitan District No. 1 effective as of January 1, 2009; provided, however, that (i) such property shall remain obligated to retire its proportionate share of all outstanding bonded indebtedness of the District and interest thereon existing as of the effective date of this Order (the bonded indebtedness for which such property is liable includes the following: Beebe Draw Farms Metropolitan District General Obligation Bonds, Series 1998, in the original amount of $2,000,000) as required pursuant to the provisions of §32-1-503(1), C.R.S., and (ii) this Order of Exclusion shall be subject to any final determination on appeal pursuant to Section 32-1-501(5), C.R.S. DATED this day of December, 2008. BY THE COURT: (00142338.DOC I) By: District Court Judge 2 GRANTEDe moving party h hereby ORDERED to provide a copy of this Order to any pro so parties who have entered an appearance in this action within 10 days from the date of this order. (00142338.OOC1) • District Court Judge DATE OF ORDER ON ATTACHMENT EXHIBIT A EFILED Document — District Court 1986CV636 CO Weld County District Court 19th JD PROPERTY DESCRIPTIONming Date: a : Dec24 008 9:44AM MST Filing GRANTED •he moving party is hereby ORDERED to provide a copy of this Order to any pro se parties who have entered an appearance in this action within 10 days from the date of this order. • Ro' eine District Court Judge DATE OF ORDER ON ATTACHMENT Beebe Draw (filing 2 Legal Description: A parcel of land being a portion of that certain parcel of land described on the boundary survey recorded April 12,1995 in Book 1487, Page 123 under Reception No. 2433894 on file in the office ofthe Clerk and Recorder, Weld County, Colorado situate in Sections 4, 5, 8, 9,10 and 17, Township 3 North, Range 6S West of the 6th Principal Meridian being more particularly described as fellows: Beginning at the Southwest Corner of said Section 8 and considering the West line of said Section 8 as bearing North 00°09'35" est and with all bearings contained herein relative thereto; thence along said West lineorth 00°09'35"VWest 1994.84 hetto a point on the Southerly line of the corrected first ftling plat of Beebe Draw Farms and Equestrian Center recorded December 13, 1989 in Book 1251 under Reception No. 02200074 according to the plat on file In the office of the Clerk and Recorder, said County; thence along the boundary of said plat the following 53 cones and distances; South 73°10'00" Bast 888.37 feet; thence South 16°50'00° West 153.46 het; thence South 46°50'08" East 749.22 feet; thence North 55°46'07" East 97.84 feet thence South 46°59'23" East 1326.17 Chet thence North 83°33'14" East 694.12 tbet thence North 32°48'49" East 257.46 feet to a point on a curve concave to the Northeast having a central angle of 21°56'45" and a radius of 993.66 feet; a radial line passing through said point beers South 31°07'32" West; thence Southeasterly along the are of said curve 380.60 feet to the end of said curve; thence tangent from said curve South 80°49'12" Best 169.63 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 26°11'26" and a radius of 1221.67 feet; thence Southeasterly along the arc of said curve 558.44 feet to the end of said curve; thence tangent from said curve South 54°37'46" East 70.54 feet; thence North 35°22'14" East 150.48 het thence North 85°40'29" East 507.75 feet thence South 87°32'47" Bat 399.71 feet; thence South 78°20'53" East 391.38 feet; thence Ninth 13°54'57" West 1387.81 feet; thence South 88°16'34" Bast 170.52 feet thence South 37°13'43" East 1250.00 feet; thence South 62°09'58" East 450.00 feet; thence South 79°4094" East 400.00 feet; thence South 75°2519" East 450.00 fast thence North 89°4('08" East 398.67 feet; thence North 00°22'03" East 470.01 fbet; thence South 89°41'05" West 50.00 Set; thence North 00°22'04" East 495.00 feet thence North 89°37'55" Wet 91.83 feet thence North 42°24'27" West 646.46 fbet; thence North I2°26'31" West 54.60 feet; thence North 17°17'09" West 207.35 feet thence North 00°16'43" East 348.60 feet; thence North 12°04'51" West 380.71 fleet; thence North 06°35'57" West 425.17 feet; thence North 41°32'24" West 327.37 feet; thence North 31°19'19" West 302.66 feet: thence North 23°33'38" Wart 293.98 feet; thence North 20°56'25" West 650.00 feet thence North 34°55'56" West 423.91 het; thence North 52°36'54" West 357.78 feet to a point on the South right-of- way line of Beebe Draw Finns Parkway; thence along said South right-of-way line the following three courses and distances; South 37°23'06" West 155.00 het to the beginning of a tangent curve concave to the Northwest having a central angle of 28°09'58" and a radius of 1141.35 feet thence Southwesterly along the aro of said curve 561.081bet to the end of said curve; thence tangent from said curve South 65°33'04" West 26694 Poet thence North 24°26'46" West 100.00 fret thence North 46°08'35 West 1117.27 het; thence South 74°02'57" West 850.00 feet to a point on a curve concave to the Southwest having a central angle of 21°01'08" and a radius of 986.23 filet; a radial line passing though said point Form Na 18304 (C045) (Continued) GRANTED e moving party is hereby ORDERED to provide a copy of this Order to any pro se parties who have entered an appearance in this action within 10 days from the date of this order. • ail- Itoor ,f►.dCleim° District Court Judge DATE OF ORDER ON ATTACHMENT bears North 629 I'38" East; thence Northwesterly along the arc of said curve 361.80 feet to the end of said curve; thence tangent Mien said curve North 48°09'30" West 225.00 feet; thence South 41°50'30" West 235.00 abet to the beginning of a tangent curve concave to the Southeast having a central angle of 20°43'40" and a radius of 225.00 fbet; thence Southwesterly along the arc of said curve 81.40 feet to the end of said curve; a radial line passing through said end of curve bears North 68°53'10" West; thence departing said curve North 68°53' 10" West 450.00 fbet; thence South 38°50'00" West 331.13 feet thence North 72°28'11" West 508.22 feet;; thence South 86°32'30" West 1532.88 fbet; thence South 89°50'25" West 200.00 feet to a point on the West line of said Section 8; thence departing said corrected first filing plat of Beebe Draw Farms and Equestrian Center and along said West line of said Section 8 North 00°09'35" West 206.16 feet to the Northwest Corner of said Section 8; thence along the West line of the Southwest Quarter of said Section 5 North 00°25'20" West 2654.03 feet to the West Quarter Corner of said Section 5; thence along the West line of the Northwest Quarter of said Section 5 North 00°24'27" West 1327.22 foot to the Southwest Comer of the North Half of the Northwest Quarter of said Section 5; thence along the South line of the North Half of the Northwest Quarter of said Section 5 North 89°4421" East 2631.31 fleet to the Southeast Corner of the North Half of the Northwest Quarter of said Section 5; thence along the South line of the Northwest Quarter of the Northeast Quarter from said Section 5 North 89°44'21" East 1331.58 feet to the Southeast Quarter of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the East line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 00°38'SS" West 132538 fbot to the Northeast Comer of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the North line of the Northeast Quarter of said Section 5 North 89°39'41" East 1333.17 %et to the Northeast Corner of said Section 5; thence along the North line of the Northwest Quarter of said Section 4 North 89°45'43" East 2638.09 feet to the North Quarter Corner of said Section 4; thence along the North line of the Northeast Quarter of said Section 4 North 89°24'30" East 805.01 feet; thence departing said North line South 40°03'54" Bast 9.61 feet thence South 10°09'16" West 45.49 feet; thence South 27°01'56" West 281.98 feet thence South 35°02'52" West 129.95 few thence South 46°24'35" West 113.95 het; thence South 67°56'l I" West 114.41 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 43°14'52" and a radius of 210.01) toot; thence Southwesterly along the arc of said curve 158.51 feet to the end of said curve; thence tangent from said curve South 24%1'19" West 39.72 tint to the beginning of a tangent curve concave to the Southeast having a central angle of 63°10'08" and a radius of 217.23 fbet; thence Southeasterly along the aro of said curve 258.45 flretto the end of said curve; thence tangent from said curve South 43°28'49" East 159.97 feat to the beginning of a tangent curve concave to the Southwest having a central angle of 48°38'll" and a radius of 81.88 that; thence Southwesterly along the arc of amid curve 69.51 feet to the end of said curve; thence tangent from said curve South 05°0921" West 19.20 led to the beginning oh a tangent curve concave to the Northwest having a central angle of 25°54'10" and a radius of 260.90 feet thence Southwesterly along the arc of said curve 117.95 fleet to the and of said curve; thence tangent from said curve South 31°03'31" West 130.58 feet; thence South 09° 40'49" West 95.26 feet; thence South 03°11'34" East 116.07 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 36°30'36" East and a radius of 180.24 feet; thence Southeasterly along the arc of said curve 114.85 fleet to the end of said curve; thence tangent from said curve South 39°C' 10" East 116.57 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 45°22'31" East and a radius of 114.82 feet; thence Southeasterly along the aro of said curve 90.93 Chet to the end of said curve; thence tangent from said curve South 85°04'41" East 170.71 fret to the beginning of a tangent curve concave to the Southwest having a central angle of 68°29'30" and a radius of 126.33 feet; thence Southeasterly along the are of said curve 151.02 feet to the end of said curve; thence tangent final said curve South 16°35'11" East 120.95 feet to the beginning of a tangent curve concave to the West having a central angle of 25°35'07" and a radius of 440.41 feet; thence Southwesterly along the aro of said Form No. 1640-1 (Rev. 1192)(Continued) GRANTED �Ine moving party is hereby ORDERED to provide a copy of this Order to any pro se parties who have entered an appearance in this action within 10 days from the date of this order. Ro er 11.JiClein° District Court Judge DATE OF ORDER ON ATTACHMENT curve 196.66 feet to the end of said curve; thence tangent from said curve South 08°5W57" West 101.24 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 59°32'10" and a radius of 242.34 Poet; thence Southeasterly along the aro of said curve 251.82 fret to the end of said curve; thence tangent from said curve South 50°32'12" East 97.62 'bet thence North 89°31'48" East 283.171bet thence South 31°1826" East 113.96 Peet; thence South 58°32'01" West 57.39 feet; thence South 31°27'59" Bast 522.19 feet; thence South 10°25'00" East 99.33 thence South 33°44'57" Bast 157.31 feet; thence South 51°33'07" West 95.52 feet; thence South 00°23'23" Best 177.92 *et thence South 10°18'08" East 78.26 tbet; thence South 30°46'04" East 152.46 foot; thence South 47°55'59" East 265.05 feet; thence South 37°58'27" West 164.42 feet; thence South 06°08'57" West 239.20 fbet; thence South 33°32'01" Bast 129.62 feet; thence South 74°20'W Bart 218.49 feet; thence South 21°05143" Bast 136.12 that thence South 05°34'34" East 216.02 Chet; thence South 40°38'47" Bast 130.48 feet; thence South 06°3724" West 112.76 tbet thence South 13°34'05" East 59.67 fleet; thence South 35°26'15" East 136.24 feet; thence South 49°59'28" East 73.11 feet; thence South 72°02'53" East 149.26 fret; thence South 28°24'37" East 133.73 feet; thence South 40°21'43" East 122.55 feet; thence South 31°08'11" East 168.24 feet; thence South 35°26'36" East 144.84 feet; thence South 52°48'46" East 145.60 fret thence South 53 °35'1I" Bast 274.60 feet; thence South 01°31'42" West 75.03 feet; thence South 30°03'25" West 263.26 feet; thence South 06°03'06" East 282.44 feet; thence South 25°15'38" East 337.55 fbet; thence South 23°51'00" East 264.59 fret; thence South 29°30'32" East 174.35 feet; thence South 37°11'17" East 96.99 feet thence South 52°03'02" East 69.68 filet; thence South 55°31'03" East 148.65 feet; thence South 16°11'28" East 138.93 feet; thence South 42°52'22" East 177.69 feet; thence South 25°09'33" East 155.19 feet; thence South 24°47'22" East 180.62 feet thence South 36°43'50" East 146.03 fret; thence South 25°08'32" West 111.15 feet; thence South 02°01'46" East 227.19 feet; thence South 20°03'30" Best 193.90 feet; thence South l2°32'52" East 346.85 feet; thence South 10°22'25" West 264.13 feet; thence South 05°07'51" West 157.19 feet; thence South 32°32'42" West 220.12 feet; thence South 19°19'50" West 268.66 feet; thence South 38°04'09" West 284.92 feet; thence South 79°43'19" West 714.61 feet; thence South 24°5221" West 224.67 the; thence South 07°13'48" East 37.52 fret to a point on the South line of said Section 10; thence along said South line South 89°28'30" West 283.01 feet to the Northeast Comer of said Section 9; thence along the South line of said Section 9 South 8941'18" West 5121.15 feet to the Southeast Comer of said Section 17; thence along the East line of said Section 17 South 00°3021" East 5282.59 fret to the Southeast Comer of said Section 17; thence along the South line of said Section 17 South 89°33'05" West 5327.95 feet to the Southwest Corner of said Section 17; thence along the West line of said Section 17 North 00°29'44" West 5239.39 feet to the POINT OF BEGINNING. Containing 2,266.118 acres; more or less, and is subject to all easements, agreements and rights -of -way of record.(Acreage provided for Parcel Identification purposes only) EXCEPTING THEREFROM, to the extent included within the foregoing Filing 2 Legal Description, all of the property described in that certain Warranty Deed to Beebe Draw Farms Metropolitan District Form Na 1640-I (Rev. I/92) (Continued) GRANTED he moving party is hereby r provide a copy of this Order to any pro se parties who have entered an appearance in this action within 10 days from the date of this order. • Roger AJKloin' District Court Judge DATE OF ORDER ON ATTACHMENT recorded December I, 1997 in Book 1636 at Page 673 at Reception No. 2581769, Weld County Clerk and Recorder, Colorado. FURTHER EXCEPTING THEREFROM the following three (3) parcels: Parcel 1- School Site Legal Description of a parcel of land being a portion of the Northwest Quarter of Section 4 and the Northeast Quarter of Section 5, Township 3 North, Range 65 West of the 6th P.M., Weld County, Colorado, being more particularly described as follows: Beginning at the Northwest corner of said Section 4 and considering the North line of the Northwest Quarter of said Section 4 as bearing North 89°45'43" East and with all bearings contained herein relative thereto; thence along said North line North 89°45'43" Bast 844.05 feet; thence departing said North line South 00°19'37" West 30.00 feet to the TRUE POINT OF BEGINNING; thence South 00°19'37" West 674.51 feet to the beginning of a tangent curve concave to the Northwest having a central angle of 10°04'02" and a radius of 435.00 Poet; thence Southwesterly along the aro of said curve 76.43 feet to the end of said curve, eternal line passing through said end of curve bears South 79°36'20" East; thence departing said curve South 89°45'34" West 2157.24 feet to a point on the East One of the Northwest Quarter of the Northeast Quarter of said Section S; thence along said East line North 00°38'58" West 748.22 feet; thence departing said East line North 89°39'41" East 1332.98 feet; thence North 89°45'43" East 843.75 feet to the TRUE POINT OF BEGINNING. Pared 2 -Fire Station Site Legal Description of a parcel of land being a portion of the Northwest Quarter of Section 4, Township 3 North, Range 65 West of the 6th P.M., Weld County, Colorado, being more particularly described as follows: Beginning at the Northwest corner of said Section 4 and considering the North line of the Northwest Quarter of said Section 4 as baring North 89°45'43" East and with all bearings contained herein relative' thereto; thence along said North line North 89°45'43" East 924.06 Poet thence departing said North line South 00°1971" West 30.00 Poet to the TRUE POINT OF BEGINNING; thence North 89°45'43" East 400.02 feet; thence South 00°19'37" West 404.39 feet; thence North 89°40'23" West 400.00 feet thence North 00°19'37" East 400.44 feet to the TRUE POINT OF BEGINNING. Parcel 3 —Directors Parcel The following described real property located in the County of Weld, State of Colorado: Township 3 North, Range 65 West of the 6th P.M.: Section 4: The NE'/, of the NW'/, except for the following described parcel: Commencing at the Northeast corner of the N W'/, of Section 4, thence along the North line of the said NW'A , South 89°35'05" West, 30.00 feet; Perm No. 1640-I (Rev. 1192) (Cominaid) GRANTED e moving party is hereby ORDERED to provide a copy of this Order to any pro se parties who have entered an appearance in this action within 10 days from the date of this order. • _ Roder AXJaln" District Court Judge DATE OF ORDER ON ATTACHMENT thence South 00°35'25" East, 30.00 feet parallel with the East line of said NW'/, to the true Point of Beginning; thence continuing South 00°35'25" East, 208.71 feet; thence South 89°35'05" West, 208.71 fbet; thence North 00°35'25" West 208.71 fbet; thence parallel with the North line of said NW%e North 89°35'05" East, 208.71 feet to the true Point of Beginning, Said parcel contains 39 acres, more or leas. (Acreage provided fbr Parcel Identification purposes only) (Legal provided by client) Fong Na 1640-I (Rev. i192) (Continued) Ilia,1':4.: uo-,„ul Court: CO Weld County District Court 19th JD Judge: Roger A Klein File & Serve Transaction ID: 22703480 Current Date: Dec 02, 2008 Case Number: 1986CV636 Case Name: In the matter of: BEEBE DRAW FARMS METRO DIST NO. 1 Court Authorizer: Roger A Klein /s/ Judge Roger A Klein SUPPORTING DOCUMENTS # 7. PETITION FOR EXCLUSION OF "DIRECTORS' PARCEL" PETITION FOR EXCLUSION In accordance with Section 32-1-501O), C.R.S., the undersigned, REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, Christine Hethcock, an individual, KIM DELANCEY, an individual, STEVE STEELE, an individual, THOMAS A. BURK, an individual, and DANIEL R. SHELDON, an individual, (collectively, the "Petitioners"), do hereby respectllilly petition the BEEBE DRAW FARMS METROPOLITAN DISTRICT NO. 1("District), acting by and through its Board of Directors ("Board"), for the exclusion of certain real property front the boundaries of the District, subject to the conditions described herein (the "Exclusion"). The Petitioners represent to the District as follows: 1. The land to be excluded consists of approximately 39 acres situate in the County of Weld, State of Colorado and is legally described on Exhibit A attached hereto and incorporated herein by this reference (the "Property"), and, at present, constitutes a portion of the District. 2. The Petitioners collectively are the fee owners of one hundred percent (100%) of the Property and no other person(s), entity or entities own(s) an interest in the Property except as beneficial holder(s) of encumbrances. 3. The Petitioners hereby assent to the exclusion of the Property from the boundaries of the District and to the entry of an Order in the District Court, County of Weld, State of Colorado (the "Court'), excluding the Property from the boundaries of the District. The Petitioners acknowledge that there shall be no withdrawal of the Petition from consideration by the Board after publication of notice of the hearing therefore, without the Board's consent. 4. If requested by the Petitioners, the District and the Petitioners shall enter into an Exclusion Agreement which addresses the conditions of the exclusion and the conditions upon which the order of exclusion will be recorded with the Weld County Clerk and Recorder. 5. The Petitioners agree that they will pay, or cause to be paid, the fees incurred by the District for the Exclusion if this Petition is accepted, including the costs of publication of appropriate legal notices and legal fees and costs incurred by the District in connection with the Exclusion of the Property. The Petitioners hereby request that the Board approve the Exclusion of the Property from the boundaries of the District and that the District file a motion with the Court requesting that an Exclusion Order be entered, stating that from and after the effective date of the Exclusion Order, the Property shall not be liable for bonded indebtedness, assessments or other obligations of the District which may be incurred after the effective date of the Order. losr3tero.000 vas Signed this day of December, 2008. REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company Br (I Name: Christine Hathcock Us: Manager Address of Petitioner 3600 S. Logs, Suite 200 Englewood, CO 80113 STATE OF COLORADO ) ) u. COUNTY OF ARAIPA wo ) The foregoing instrument was aclmowledged before me this g day of December, 2008, by Christine Hethrock, as Manager of REI LIMITED LIABILITY COMPANY. Witness my hand and official sal. My commission expires: AV/ 5.2,©/0 ilioilyptith (0013a019.n0C r.1) CIOUSTINE AETHCOCK By: Address of Petitioner: GO a5 5. L.tma St mod Co tot t-4 ► t STATE OF COLORADO COUNTY OF /1RAPsHOE The foregoing insert was oolmowledSed before me this (O -4 -Any of December, 2008, by Christine Hethcock. Witness my hood and official seal. My commission MEN: /17b43-1..tei (0O1310N.DOC v:l) KIM DELANCEY STATE OF COLORADO 1 COUNTY OF Qtreta\1O� ) The foregoing instrument was acknowledged before me this S d" day of December, 2008, by Kim Delancey. Witness my hand and official seal. ItiCa eMtmEgiss My commission expires: 1 N (OOU107ADOC v..1( Notary Public S9PIEVE STIEELE sy: Address of Petitioner: STATE OF COLORADO ) ss. COUNTY OF /AKA PAH es ) The foregoing instrument was acknowledged betas me this Stry of December, 2008, by Steve Steele. Witness my hand and official seal. My commission expires: ©al's 601n �OtQLY %.. ,OF(4? ��• F u� t��. . Q\ • '.. �''yp•O I I C00•,0% OPp. i0013IOYf.DOCw11 DANIEL R. SHELDON BY: Address of Petitioner: Ces-,S B.`ne4s AnAI has h. '-....d . t O pen t STATE OF COLORADO ) ss. COUNTY OF t42APADe The foregoing SUmnant was acknowledged before me this fAsy of December, 200$, by Daniel IL Sheldon. Witness my hand and official seal. My commission mcpims: IO9171e9.DOC r.l) • • THOMAS A. MURK By: Address of Petitioner: N14Arai '<Arta/ Ct 10/Jo STATE OF COLORADO ) ) St COMM OF " 1 AM The foregoing instrument was acknowledged before me this day of December, 2008, by Thomas A. Burk. Witness my hand and official seal. My commission expires: Ana q ly taCi 1k (00131099AOCv:I) EXHIBIT A Legal Description of Property The following despOrtheS reel property located in the County of 1.14, State of Colurados • • Temabb ! Worth. *any IS Oast of tbe.0th PS* Section 4s Rho 14 of the *4 000ept for the following decoslbed psroelt . oounel at the northeast coreir of the nai of lsdtion 4, thenos e1450 tbs North line of the. said nn, south Oi'iti'Oti• lest, 70.00 Tests thence South 00.7P'PP last, 70.00 test parallel with the line of said may told* tree Point of innings M theme n.+�+ aP sestb 00•P$'7S nest, soo.7i nets theme south Of•71'0P Oast, 700.71 Tests theses North 00'7S175o lest, 700.71 toots theft parallel witb'the north line of sold lP 3U'0Se Nast, 70.73 fret to the Tale Point of Minoring. Said pal contains 710 accost more or less. also known by street and sober ass wdn,rahed lands no street address, with all its eppwetoehoes.• Hello