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HomeMy WebLinkAbout20072465.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2007, WELD COUNTY, COLORADO - STIPULATE PETITION OF: CALABRESE INVESTMENTS LLC 1827 GOLDEN WILLOW CT FORT COLLINS, CO 80528 DESCRIPTION OF PROPERTY: ACCOUNT#: R6830297 PARCEL#: 120723304013-MEA VBP-12 L12 VALLEY BUSINESS PARK REV PHASE 4 SITUS: 4001 S VALLEY DR MEAD 0 WHEREAS,the Board of County Commissioners of Weld County,Colorado,convened as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within Weld County,fixed and made by the County Assessor for the year 2007, and WHEREAS, said petition has been heard before the County Assessor and due Notice of Determination thereon has been given to the taxpayer(s), and WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation for the year2007,claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS,in lieu of the hearing scheduled before the Board of Equalization a Stipulation was agreed upon by the Assessor and said petitioner(s), and WHEREAS,the petitioner(s)and the Weld County Assessor agree that the assessment and valuation of the Weld County Assessor shall be, and hereby is, stipulated as follows: ACTUAL VALUE AS DETERMINED ACTUAL VALUE BY ASSESSOR AS STIPULATED Land $ 233,591 $ 233,591 Improvements OR Personal Property 1,356,252 1,284,409 TOTAL $ 1,589,843 $ 1,518,000 WHEREAS,said Stipulation shall resolve all issues to have been determined by the Weld County Board of Equalization. 2007-2465 AS0067 ('? : 9e4 ,CL.7,72 IS/6 47 RE: BOE - CALABRESE INVESTMENTS LLC, R6830297 Page 2 NOW,THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Board of Equalization, that the Stipulation agreed to by the Weld County Assessor and the above-named petitioner(s) be, and hereby is, accepted by the Board. The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 3rd day of August, 2007. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: ik��f1f �v��i%/����,//tei EXCUSED David E. Long, Chair my Clerk to the Board CWilliam H'Jke, Pr -Tem iv t D k o the Board t _ �S. -` . William F. Garcia _ . TO FORM: >"';' b r ',In_ EXCUSED =i.-- Robert D. Masden C, .C(�{d(q,1 A Q, Assist t Coun Attorney U Con fa r-- Douglas demacher Date of signature: 8/7/07 2007-2465 AS0067 i 2007 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R6830297 STIPULATION (As To Tax Year 2007 Actual Value) RE PETITION OF : NAME: Calabrese Investments LLC ADDRESS: 1827 Golden Willow Ct. Fort Collins, CO 80528 Petitioner(s), Calabrese Investments LLC and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 2007 valuation of the subject property, and jointly move that the Board of Equalization to enter its order based on this Stipulation. Petitioner(s) and the Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: (Legal description) MEA VBP-12 L12 VALLEY BUSINESS PARK REV PHASE 4 2. The subject property is classified as Commercial Office property. 3. The County Assessor originally assigned the following actual value to the subject property for tax year 2007. Land $ 233,591 Improvements $1,356,252 Total $1,589,843 4. After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. Land $ 233,591 Improvements $1,284,409 n Total $1,518,000 tIEGE WE AUG 0 8 2007 UNCLE C;OU 4TY r„"iSLSSOR GREE1_.EY COLORADO 4;5;70 0 7-a V625 5. The valuations, as established above, shall be binding only with respect to tax year 2007. 6. Brief narrative as to why the reduction was made: Value was adjusted based upon the general market prices per sq. ft. that were in place in the base period and the income was considered as backup for the market. 7. Both parties agree that the hearing scheduled before the Weld County Board of Equalization on 8/2/2007 at 11:00 be vacated; or, a hearing has not yet been scheduled before the Board of Equalization (check if appropriate). DATED E thi 1 day of August, 2007. Ooh, u.„......etitioner(s) or Ag Petitioner(s) or Attorney Address: Address: properly In Advisors, Inc 3090 S. Jamaica Ct. Suite 204 Auroras CO 80014 Telephor 34168.0530 Telephone: l /(.ai. County Asse sor Address: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 NOTICE OF DENIAL 2:anDI OFFICE OF COUNTY ASSESSOR \ MEA A VBP-12 L12 VALLEY BUSINESS 1400 NORTH 17thAV0 PARK REV PHASE 4 SITUS : 4001 S cRE3845,EELEY, T.3650 VALLEY DR MEAD 0 PHONE(970)353-3845,EXld co us www.co.weld.co.us WI 'PC OWNER: CALABRESE INVESTMENTS LLC R PROPERTY TAX ADVISORS INC LOG 3540 3090 SOUTH JAMAICA COURT PARCEL 120723304013 SUITE 204 ACCOUNT R6830297 AURORA, CO 80014 YEAR 2007 Owner: CALABRESE INVESTMENTS LLC The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that your property should be included in the following category(ies): Industrial property is valued by considering the cost, market, and income approaches . If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings. The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest,and has determined the valuation(s)assigned to your property. The reasons for this determination of value are: We have reviewed your property value and feel it is correct . Law requires that all of 2OO5 and the first 6 months of 2006 data be used to establish current values . We have considered all (3) three approaches to value in arriving at tour current valuation. We have denied your appeal based upon our research of his data. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW COMMERCIAL 406876 406876 INDUSTRIAL 1182967 1182967 TOTALS $ $ 1589843 $ 1589843 APPEAL DEADLINES: REAL PROPERTY-JULY 16,PERSONAL PROPERTY—JULY 20. If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration. §39-8-106(1)(a),C.R.S. TO PRESERVE YOUR APPEAL RIGHTS,YOU MAY BE REQUIRED TO PROVE THAT YOU FILED A TIMELY APPEAL; THEREFORE,WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING 06/27/2007 By: Christopher M. Woodruff WELD COUNTY ASSESSOR DATE ADDITIONAL INFORMATION ON REVERSE SIDE 28e7✓2212 YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR' S DECISION . The County Board of Equalization will sit to hear appeals beginning July 2 and continuing through August 3 for real property (land and buildings) and personal property (furnishings, machinery, and equipment). § 39-8-104 and § 39- 8-107(2), C.R.S. to ,:.' I you choose to appeal the Assessor' s decision, mail or deliver one copy of this completed form to the County Board of Equalization. To preserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 16 FOR REAL PROPERTY, AND JULY 20 FOR PERSONAL PROPERTY. WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000 Ext. 4225 You wil e note ie of e time and place set for the hearing of your appeal. ,.... L._ ,_ej 'I' -It,*a fib;. Iat r hr A'it L:(2,:6;,;:1(125.i;.1€i 1,iI L ',1;T; ., The County Board of Equalization must make a decision on your appeal and mail you a determination within five business days of that decision. The County Board must conclude its hearings and render decisions by August 3. P » d iiIi ai .4,1;r; S' _F :ilk-i d c.f. I you are not satis lea wi t e County Boar. o Equalization' s decision you must file within thirty days of the County Board of Equalization' s written decision with ONE of the following: Board of Assessment Appeals (BAA): 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone (303) 866-5880 www.dola.colorado.gov/baa District Court: 9th Avenue and 9th Street, P.O. Box C Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4520 Arbitration: WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4225 If you do not receive a determination from the County Board of Equalization, contact the county board. If the county board is not going to mail a decision, you must file an appeal with the Board of Assessment Appeals by September 10th. TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING. PETITION TO THE COUNTY BOARD OF EQUALIZATION In the space below, please explain why you disagree with the Assessor' s valuation. IN ACCORDANCE WITH § 39-8-106(1.5), C.R.S., IF YOUR APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as necessary. g It .3O, 55° • SIGMA"I DREctit II oNE'�� --, DATE ML/Q� NOD 207 62 87/07 Property Tax Advisors, Inc. (303)368-0500 3090 S. Jamaica Ct., Suite 204 FAX (303)3684573 Aurora, Colorado 80014 CONSULTANT - AGENCY AGREEMENT _a Corporation Property Owner: Calabrese Investments LLC _ a Partnership as Individuals County: `Veld _ a Trust P.I.N. Property Address R6830197 4007 S. Valley Dr. R6830297 4001 S. Valley Dr. The undersigned hereby appoints and authorizes Property Tax Advisors, Inc.as its Agent and Consultant in the preparation and execution of areal estate valuation appeal(s)on behalf of the undersigned in regard to the above enumerated property(ies)for the assessment year(s)2007-2008 and for the prior two years. The undersigned further authorizes Property Tax Advisors, Inc., as Agent of the undersigned,to execute and cause to be filed on behalf of the undersigned,in the name of the undersigned,any and all documents relating to an appeal of the subject property's(ies)valuation(s). This agreement is executed this 2 ? day of rT,¢,V. , 20 07. BY: �- az/ I Print Name: ( Fl.,44/OO 4% CA/Agena ,T,p. Tide: /I/A/W 6C=/C (If Corporation, your title; (or) Owner, General Partner, Telephone No.: — 0213 Lessee,Property Manager,Power of Attorney,Trustee,etc.) Fax No.: Rev.11/06 2279 2279A EST. NINETEEN HUNDRED a EIGHTY SEVEN pflPERTT Tiinn kDlfla91is 116 c4pee a/w.ay 9a Colorado Commercial Properly 7a, Prole rh 7/13/2007 Weld County Board of Equalization 915 10th St. P.O. Box 758 Greeley, CO 80632 Enclosed are 2007 protests. Please date stamp the attached list of filings and fax or mail back to: Property Tax Advisors, Inc. 3090 S. Jamaica Ct., STE 204 Aurora, CO 80014 Fax: (303)368-0573 Thank you in advance for your attention to this matter. Very truly yours, Fran Fisher Office Manager hJ n IT c =.cm C� r o 1'-rrvVC fr./2Cl)n O O C l� > rna a C/) CFI contact@propertytax-advisors cam p.303.368.0500 30905.Jamaica Court,Suite 0204 303.368.0573 Aurora,Colorado 80014 www.property-tax-advisnrs.00III Filings File# PropertyOwner County Schedule# PropertyAddress Status 16341 SG Trust Weld R6295986 726 Baseline PI. F-CBOE/NR 2168 Kellogg, George B Weld 096131412011 218 N. 2nd St. F-CBOE/NR 2279 Calabrese Investments LLC Weld R6830197 4007 S.Valley Dr. F-CBOE/NR 2279A Calabrese Investments LLC Weld R6830297 4001 S.Valley Dr. F-CBOE/NR 2321 McLavey, Bernard R& Bren Weld R3812086 1405 32nd St. F-CBOE/NR 2321A McLavey, Bernard R&Bren Weld R8771800 1515 32nd St. F-CBOE/NR' 2586V RED Partnership&CO Floo Weld R2133303 4524 Centerpiece Dr. F-CBOE/NR 2857B Hinchley, Dennis L& Laura Weld R6298386 700 N 9 Avdr F-CBOE/NR 2857C 2113 1st Avenue Greeley C Weld R3461586 21131 Av F-CBOE/NR 2857D 2021 1st Avenue Greeley C Weld R3461986 2021 1 Av F-CBOE/NR 2868 Fort Lupton Hotel Managem Weld R6905298 65 S. Grand Ave. F-CBOE/NR 3113 Ferrous Development LLC Weld R1358702 3770 Puritan Way F-CBOE/NR 3118 Excalibur LLC Weld R1496102 4663 20th St Rd F-CBOE/NR 3118A Lancelot Holding LLC Weld R2975404 4635 20th St Rd 3 F-CBOE/NR 3138S 338C East Pitkin St et al Weld R1534702 1292 Main St. 5 F-CBOE/NR 3188 Koldeway,Vernon E Weld R0093388 14311 Mead St. F-CBOE/NR 3211 Von Bernuth, Richard J&C Weld R6829697 14136 Valley Dr. F-CBOE/NR 3299 ultilateral Partners Windsor Weld R4267206 1039 Main St. F-CBOE/NR 3303 Kimmark LLC Weld R6829297 4110 N Valley Dr. F-CBOE/NR 3303A Kimmark LLC Weld R6829197 14125 Mead St. F-CBOE/NR 3303B Kimmark LLC Weld R3941505 Vacant Land F-CBOE/NR 3303D MGD Land LLC Weld R4471806 2913 37 St F-CBOE/NR 3307 JSPERGM Inc. Weld R7455198 3625 23rd Ave. F-CBOE/NR 3309 Rocky Mountain Eye Ventur Weld R0169492 1616 15th St. F-CBOE/NR Friday,July 13,2007 Page 1 of 1 CLERK TO THE BOARD Kiee PHONE (970) 356-4000 EXT 4226 FAX: (970) 352-0242 WEBSITE: www.co.weld.co.us ' 915 10TH STREET P.O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO July 25, 2007 CALABRESE INVESTMENTS LLC 1827 GOLDEN WILLOW CT FORT COLLINS CO 80528 Parcel No.: 120723304013 Account No.: R6830297 Parcel No.: 120723304012 Account No.: R6830197 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 2, 2007, at or about the hour of 11:00 AM,to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Department of Planning Services, Conference Room, 918 10th Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 3, 2007, and mailed to you on or before August 10, 2007. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax(970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information,at which time the Assessor will make the data available within three(3) working days, subject to any confidentiality requirements. Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. CALABRESE INVESTMENTS LLC - R6830297, R6830197 Page 2 Very truly yours, BOARD OF EQUALIZATION � 4/2L Donald Warden Clerk to the Board cc: Christopher Woodruff, Assessor PROPERTY TAX ADVISORS INC 3090 SOUTH JAMAICA COURT SUITE 204 AURORA CO 80014 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 02/23 Agent: PROPERTY TAX ADVISORS, INC, 3090 South Jamaica Court, Suite 204 Aurora, Colorado 80014 TEL: (303)368-0500; FAX: (303)368-0573 Petition To: COUNTY BOARD OF EQUALIZATION Subject: APPEAL OF REAL PROPERTY VALUATION Tax Year: 2007 County: Weld Schedule Number: R6830297 PTA# 2279A Property Address: 4001 S. Valley Dr. Property Owner: Calabrese Investments LLC inclusions: Photograph(s) of Subject Property . Correlation and Conclusions ,X Income Approach X Market Sales - Cost Approach - Salient Facts Report Date: 7/1/2007 Effective Date: 6/30/04 PETITIONER'S FINAL ESTIMATE OF VALUE: $1,364,500 Value per Square Foot: $47.54 ASSESSOR'S VALUE: $1,589,843 Value per Square Foot. $55.40 Site Size 71,874 s.f. YOC 1997 Effective Bldg. Age(yrs) 5 Gross Building Area 28,700 s.f. Remaining Econ. Life(yrs) 40 Land to Bldg. Ratio 2.5 :1 Zoning Ind. Construction Masonry Use: Flex Warehouse/Office Building 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 03/23 SUBJECT PROPERTY ' 07/31/2007 09:32 3033600573 PROPERTY TAX ADVISOR PAGE 04/23 i , M'ki( taf rc�r.,;,,,' r 6 I , i C il wi :�{ yPo 'i 401 y �1 ' r ` • J W q !y� I 'ti j1 tl '�� a• VIn.':',11'. � q ty r'4 , r ky. ! D 4 C # Ct i I 4 t"4T iy F�. IY� ,SN 41'4 i, r C'M C I: t{ _ 3 rpQ Iiik �� A - , 71.11 t s,i I I_ 1,1 a rvhi III n1Y sr 4�1 � , 1 , Hint , t 1 IE yn 40 v • w� i ) 1 >,kovew Jv.i1 1 Y IA 1"—d ��. �v^ 1 vl', rp 71.. �� r g41,2 ! $ c i ,S rc ,.. id' cf,�ry )I P Fu a1 4 - Jk ir i�l i ur ( 5 Y g ,. { qP i {i"r\A�� -- g Io 1 If.E�A — X111 L; ,a , ` ,,,,:4%.,;,,,,,::, ;.a alcI' I )r ait (1 i ( rS f�"1 I1 ,. 'If 'it ,,t , r f a 1.„pwr A7iO4 . t T - — i p ��' , a 1 'h:n AI ''� 0,1•/(.f4 ,.jhJ iAd p w 1 5 ' 1 g t 1 d • ti Is1 1 ,r I 1221 LMit�1 ' ems. l 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 05/23 Property Address: 4001 S. Valley Dr. PTA# 2279A INCOME APPROACH TO VALUE a $ 1.384,500 ($47.551af1 $ 11.00 Ofc gross GLA: 28,700 sf Rental Rate:$ 6.25whscross /sf Source: Market and Owner's Rent Rol( Factors Affecting Rental Rate: 21,700 sf x $6.25 Gross /sf= $135,625 7,000 sf x $11.00 Gross /sf= $77,000 sfx /sf= Potential Gross Income $ 212,825 Source: Market Occupancy Rate X .90 Effective Gross Income $ 191,363 Source: Market Expenses - .82 Net Operating Income $ 156,917 Source: Cap Rate 9% Capitalization Rate + .115 ETR 2.5°/0 Overall Rate 11.5% VALUE BY INCOME APPROACH $ 1,364,498 Say: $ 1,364,500 Comments: 1. $6.25/sf warehouse rent per survey attached 2. $11.00/sf office rent based on 3,450 sf of office space 3. Petitioner correlates to the Income Approach to Value backed by(3) area sales comps. 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A A r 2 84 R o o r, n w _ `.� :1,.h es O N h m O Llf 1l1 aI O !1 Q giro; Jr , eoagggaoggE gaagoa ? 229 ? r- r- mtlteminto0gg gg ti :j8888888R8RRaRcggRggRRg1gs .4Am ci -F.t, O 'I 0 ^r IS lit € e V S t IF lX$ g n4 w 5 o i= ,, 'GI bi J : .1 ‘i t 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 13/23 • J VI II i F- i. r !,q l , _ 'I Tp f f{� � ' I ,A ,a, Y ,....„ 1 I , h i iro i I P -...a r f t'tt s �Ii i • t,..V t, r ! s i • 21 d r'' 1 m F W--oiy , I`.':' , I r� .1 I r �, fisICfx • 4Y,1 3 - • $r Pr' tt • f l' .i . ri , y� r e,nf IS 1z w 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 14/23 l' f . 66 b i r" r4 usl 544 a I, 1 '� R5 ii ;1 Tarr{ 3• r, bl -iI y 1I S4 '. 4a � hA ( I " 1' 4.4 4 Iiy w444 I i ?L'41:1 aG „Pi? w x I 'g ui 1.i� i tiI GI ', pY �1 f diIMi 'I i 1• lint) ^ I149 , �1 „ i-vciVe, • 1:1 I d Jn: nti 1'lu1W l" "dl' 1 1� yl v , kit 4, Clr y�` i� .1111y , !,aC�f M 1i1N ' )q�l 1': v I .4 lir,�, L.IN,o A gg alr E 4 � 1 l , Iti i l� f j s .11yi, 1 IFT115 I �' r ilk,; f I 1 to .,;,:s.,,,,„:„.,.,,,,..,.,,..n ii 1'tie(' 1A iif $il, 1 '''TW rMpirl IC . jr•:4111i Ai eLir , iiir ' (i SI!'l • :110 $$ :' aan 1 m. H��` flip ' � y1 l 111 1 1 1 y ,l ih1•41{ 1 Ir4 6L !� ' E 4.....,:,(05e,: ,,,„'.., it ` "f' '~� p r IE r A islr' i ' ,'' a r,51, i 4 f, 4I 1 41 ' k ,., yr - a , ;,1c ,r;',414.4.'4.,..4;'',44,4„:4,q • 4 " I l,,,F,,,,,,,„',�i�4 t ksi, y�::: ,.,,,,,,,,,,1/4, fir^ 4 4 1.4 1 1 1p L1 '14'4r.'' Y�°�; 1r (u I `1344 +„ t i lII4 44i' ,1 Ci'p I,a'P1�i 44� 4 , " al ' , " 41'' u1P AO ,—, r 1 41. +.444'41, 1 14,4_4,4 , r�L' Ln. I i l n� , i r 1 I' .4; �,71, , r S l'i'. ' 1 1 GI III:. IW - 4 1 ab MA., ', I 'a.Oil rkii n !2 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 15/23 SALES COMPARABLES 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 16/23 I.uotaz c',nvlr ow 1 ag.. 1 U1 L Belden wrloht• Property Tax Advisors, Inc. lag out 11479 Mead Ct s. Hwy 66 and I-25/Sekich Business Park Longmont, CO 80504 - Weld County Ind Submarket Sale on 05/02/2006 for $540,000 ($47,47/SF) - Research Complete 11,375 SF, Warehouse Building Built in 2002 home page sale transaction );{ property )iu contacts irr 1 of 1 map/aerial demographics Wit analytic to r —.sale contacts results table Recorded Buyer: 14479 Mead Court, LLC print reports Recorded Seller: Jorge NorJJtflg s save survey True Buyer: 14}Z9 M Court,J,LC P.O. Box 1184 add records Longmont, CO 80502 remove record (303) 776-9166 True Seller: - comps search Buyer Type: Individual my surveys Buyer Broker: Prudential Rocky Mo ijj ain REALTORS lookup comps EdKanituctto, CCIM I� r- (303) 772-2222 update data Keitkkxanemoto E1� (303) 772-7100 suggestions Listing Broker: Prudential Rocky Mountain REALTORS support Bayne_autmstn. (303) 772-2222 Iltrensaction details Ir Sale Date: 05/02/2006 (180 days on market) Escrow Length: 60 days Sale Type: Owner/User Sale Price: $540,000 - Confirmed Bldg Type: Warehouse Asking Price: - Year Built/Age: Built 2002 Aga: 4 Price/SF: $47.47 RBA: 11,375 SF Price/AC Land Gross: $545,454.55 ($12.52/SF) Land Area: 0.99 AC (43,124 SF) Percent Leased: 100.0% Tenancy: Multi Percent Improved: 82.1% Buyer Cap Rate: - Total Value Assessed: $487,052 in 2006 Improved Value $400,000 Assessed: Land Value Assessed: $87,052 Land Assessed/AC: $87,931 Sale Conditions: - Transfer Tax: $54 Financing: Down payment of$48,000 (8.9%) http://property2.costar.com/comps/Dctail/Detail.aspx?ID=773298&Results-0 7/30/2007 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 17/23 LoJLar I.VMrat& Lo ui v $492,000 from Flatirons Bank Crane: - Stories; 1 Column Spacing: - Ceiling Height: 16'0"-18'0" Leveiators: None Cross Docks: - Drive Ins: 4 (total) Loading Docks: None Rail Spots: - Const Type: - Zoning: I-3, Longmont Sprinklers: Yes Rail Line: - Legal Desc; Lot 12A of lots 8 thru 12 blk 1 Seklch Business Park Parcel No: 120723001045 Document No: 3384242 itransactton notes M My Notes: a My Does: NONE al Income/Expense: Buyer Is an owner/user. 14479 Mead Court, LLC e/o Jim Golden * APN: Plat map not available at time of research. Mill Levy: 79.431 h & sources N CoStar Research: Steven Ferreira ® Last Updated: 07/06/200 (866) 851-8236 phone update data (800) 481-2867 ex Publication Date: 06/22/200 Cog Copyright®2002-2007 CoStar Realty Information,Inc.All rights reserved. 8y using this site,you agree to our Teens of Use http://property2.costar.com/comps/Detail/Detail.aspx?ID>773298&Results=0 7/30/2007 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 18/23 13:,.$,.7,•1:',,L, 9 ' I,, 1 4 1 .Ilyld ' u NL ,'IIJ yI y� �A I', I A 4 0.,: III 1:nry . nt 1 fla 4 IJ y , F, MI w ', ''. ,,r,,..;: IN'. ,.l I I�,I) Il �F r Y:I" I, 1 41x1 JT 1 1 a 3 �—t I i ( III . ._ t �G°Iy 'I . 'ird„r S�Ai .I i tJ. ,. i IfFr g�g ,I ,u {Il lr l I f''I1,11 a (I v...}.,,,;!"1 .1)' g. i1 't VIA Nfa 1. -.O.,..'.,,; aiTr' It t' 6'1lpf ' },� d 1 51 IIti1 ,diil' F IJ3I11 V�+lVililil .:4,:.l yl n4iIH*I Ii IH� 1y i i I r J ..J(10 n. . .. .. I Ir. II jg 1 A 7. ,Fl �hr ',I' `F.., 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 19/23 J14.1 Belden wrloht Property Tex Advisors,Inc. lag out 406E Camelot Cir Longmont, CO 80504 - Weld County Ind Submarket Sale on 08/09/2005 for $827,800 ($47.30/SF) - Research Complete 17,500 SF, Warehouse Building Built in 1971 home page ( sale transaction 1' property buy contacts ] im 1 of 1 a! map/aerial demographics analytic to hale contacts �. results table Recorded Buyer: Packard enterprises Inc print reports Recorded Seller: DW& K InyeelmeRtR, LLC save survey Seller Contact: Tim Weitzel add records True Buyer: packardjnterprises Inc 4066 Camelot Cir remove record Longmont, CO 80504 r (970) 493-5070 comps search True Seller: - my surveys Buyer Type: Individual lookup comps Buyer Broker: Keller Williams Metro Properties t49rrtta_llllalker update data (303) 418-1800 Listing Broker: Prudentlai Rocky_Mountain REALTORS su ggestions Ken Kanemoto support (303) 772-2222 Itransectien details {r Sale Date: 08/09/2005 (180 days on market) Escrow Length: 120 days Sale Type: Owner/User Sale Price: $827,800 - Confirmed Bldg Type: Warehouse Asking Price: - Year Built/Age: Built 1971 Age: 34 Price/SF: $47.30 RBA: 17,500 SF Price/AC Land Gross: $192,064.97 ($4.41/SF) Land Area: 4.31 AC (187,744 SF) Percent Leased: 100.0% Tenancy: Multi Percent Improved: 64.0% Buyer Cap Rate: - Total Value Assessed: $226,840 In 2005 Improved Value $145,110 Assessed: Land value Assessed: $81,730 Land Assessed/AC: $18,962 Sale Conditions: - Transfer Tax: $82.78 Financing; Down payment of$827,800 (100.0%) Crane: - Stories: 1 http://property2.costar.conh/comps/Detail/Detail.aspx2ID=70S0G28cResults=0 7/30/2007 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 20/23 1.VVWL liVAY11 UV." .1 Sel.,a,VA 4. Column Spacing: - Ceiling Height: 14'0"-20'0" Levelators: None Cross Docks; - Drive Ins: 6 tot/14'0"w x 14'0"h Loading Docks: None Rail Spots; - Const Type: Steel Zoning: PUD, Longmont Sprinklers: Yes Rail Line: - Legal Desc: Lot 8 Blk 1 Rademacher Business Park Admended Pt Longmont Parcel No: 120723202008 Document No: 3314618 Itransactlon notes lk My Notes: j a My Dots: NONE at Income/Expense: Buyer Is an owner/user. Packard Enterprises Inc c/o Curtis Packard, Pres OW & K Investments, LLC c/o Tim Weitzel * Description: Broker's listing brochure indicates property was construct 2004. The building has (6) 14' overhead doors. $research & sources l� Costar Research: Clarence Wong Ref Last Updated: 11/18/200 (888) 832-2664 phone update data (800) 316-0763 fax Publication Date: 08/18/200 Col Gopytght 42002-2007 toStar Realty Information,Inc.M fights resolved. By using this ake,you agree to our Tens of use http://property2.costar.com/comps/Detail/Detail.aspx7ID=708062&Results=0 7/30/2007 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 21/23 •i 'M 1,�� f� ,1,7,64p.:11,:,,,;:.•9Y i oOtr ?'i II xtJ ri ,,41,41.Y r • I ] pre , hr '` b44h r ��� a4 ' 'ii 7,04�Y Ck o 1 �4 _ L. 1 1., aJ�i 1 W 1.I ) r ry ryI ] h' I +h � Vii{$y+ H bL � ,a al • >.,. 171 j, 7 p.-1, rc `•m 4 [1� , NFy '�Il� �d I .t.' N t t tt j • {r i c91�' 14'dY i, ' •. p4y �j rLI'$111 , t ] p� 1 • , . SIN 'Ali• 1 1 rya „"4 . { • II 114r11 f .L II . dl t 1 I j ] x 4 1�'a rt 1. +' 9 • r ,l '1n 1 tibi w l - it P ^I,II :411 �I yyjI f ill r. 1 t '�fY ill ( t, � vla Ca v 1 a 'p aI r ;pry{f E •• f of44.#4.4","'..4,4.".,'" le p e1 1 �l r • , r. 11: 1 +n =2:—"::7flow I a `y, e e'2 , ?� I•1, 1 r II � il w,r�" wt 4; y r Y t PX S� y _ • Y �I I�i Iv' �.I ,,,,,,,!-...,,,,, ,-,,..:,,,,,.,-, tI k.� , 0 ° /1 1 ) 7 C� _ al 1 1 �sa cww. ? ' le 1 % �,' L 1�� IIII 'di 4'i -r °�44 YII ItF /Ii __ r f. krF ,-..?•,::::.„,.....,42,4-4.4:, � �n aa: 1 Fl � - 1. a r� C NI I1� ��� �.,irti.t.II� -?;;Y:rI 1.1 ' 'j. Tl, IIW , i 4 p '' �ry ,�dl e'1 f, Ij!! � � P M r n 4' + L! P i 1 .I 4 ,I-I-.;.,.:....";; ; ] � � � y k : - +1 :1!:4:51.:]..= ,h vM1 :- e 1 la @rM y�9e �. w . 4 L I h '•', �1 f 11 • 1:: :-,,,;:i1„,'$1 0;P: il , L�;,$,I ' i ar li Y Y I•• It' 1 4.L ',j d I 1q� 'i' 'M!I�I�1�.. 1 1 a ._.ty L 1 '' - h. : + Jfi4A 1l � •411,aG4.l {t ,. t � ; 4ii 1 F �i. A h k a Ir { 1111 ✓4114nfWA 11 a� �;�I IIWI.�i�' ca,H G �s'1':v"Y F�4T,A!�;`N�R+141 ti; L J " +Zh .. r.S l .. '._.. I . +•MI I !',..„ b, p w. .•. I. jam-.•L I is d 0 1 07/31/2007 09:32 3033680573 PROPERTY TAX ADVISOR PAGE 22/23 rage s us Beldon Wright• Property Tax Advisors, Inc. log out 14331 Hilltop Ave® T - (,C},". '1R Mead, CO 80504 - Weld County Ind Submarket Sale on 10/07/2004 for $1,090,564 ($38.75/SF) - Research Complete ,. 28,147 SF, Warehouse Building Built In 1995 -,14•4-0,:v home page sale transaction h! roe contacts - ' 0 P 9 �:, property rtY �� 4 4 of 16 ►j map/aerial demographics analytic Li 'sale contacts �• results table Recorded Buyer: FBVAM Invastmera LLC print reports Recorded Seller: Thomas_D._Day change criteria True Buyer: FBVAM_TOvestments,.LLC show criteria 4045 Specialty PI Longmont, Co 80504 save survey (303) 772-2103 add records True Seller: - remove record It Hon details Sale Date: 10/07/2004 comps search Sale Price: $1,090,564 - Full Value my surveys Bldg Type; Warehouse lookup comps Asking Price: - Year Bullt/Age: Built 1995 Age: 9 Price/SF: $38.75 • update data RBA: 28,147 SF Price/AC Land Gross: $403,912.59 ($9.27/SF) suggestions Land Area: 2.70 AC (117,612 SF) support Percent Leased: 100.0% Percent Improved: 80.6% Buyer Cap Rate: - Total Value Assessed: $1,250,000 in 2004 Improved Value $1,007,469 Assessed: Land Value Assessed: $242,531 Land Assessed/AC: $89,826 Sale Conditions: - Transfer Tax: $109.06 Financing: $1,200,000 from Adams Bank &Trust Crane: - Stories: 1 Column Spacing; - Ceiling Height: 16'0" Levelators: None Cross Docks: No Drive Ins: 1 (total) Loading Docks: 3 ext (bldg. Rail Spots: None Const Type: Metal Zoning: Li Sprinklers: Yes Rail Line: None Legal Desc: Lot 8 blk 2 Sekich Business Park + easement Parcel No: 120723001019 file://C:\DOCUME-1\fran\LOCALS-1\Temp\EEIQUSW2.htm 2/3/2007 07/31/2007 09:32 3033680573 PROPERTY TAX ADVIS�2 PAGE 23/23 r' 9 v !1 f (i9 41, I �a ,1✓.1„ :1 1 ,i 1 I � i� ,k,' Y.r� irw, + IT "r' 4 if- ii hii f y I , 1 1 a i ) J 1, •—.J(' ; ' 11 .t ,, a L I Id 111 's i l- p In .y ',t 2 1 IF21. l Y I ,- k .1 1 -. �, Iliy I 1 Ie t J1 Y i . 1 _ ;1� q r t i ' 1 4 sJ e r ., b al.�, I lu.r,� P v I 11 !' 1 v , j('. r tI 1, 1 ' 111 , 1 J kh�:�� r l •-:,1 61 al '44 1 I .II a I I [7 i !•i; 1 :S.H.6.±.:.)., 14.L'''''V- IIrIi v�.h7 {14 N,7 tul Iti .i1 utU I . lµ I Ll;. rl �' E! 1� 1 ra 3 � J ' r 1 1 I ,{ ,1 I°l'1e4 I I UFad d �X 7 +MI 1 iu,-��� rt1' n , 911 , F7 �m�'b.'', 1." 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