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Home My WebLink About20022114.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2002, WELD COUNTY, COLORADO -ADJUST VALUE IN PART PETITION OF: MCGUIRE JAMES E & ANGELIQUE R P O BOX 775 FT LUPTON, CO 80621 DESCRIPTION OF PROPERTY: ACCOUNT#: R8912300 PARCEL#: 130706000016 - PT NE4 6-2-65 LOT A REC EXEMPT RE-2299 (.21 R) SITUS: 11837 39 CR WELD 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 2002, 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 year 2002, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner being present, and WHEREAS, the Board has made its findings on the evidence, testimony and remonstrances and is now fully informed. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Board of Equalization, that the evidence presented at the hearing supported, in part, the value placed upon the property by the petitioner. The assessment and valuation of the Weld County Assessor shall be, and hereby is, adjusted from the total actual value of $233,432, to a total of$182,400, using the market approach. BE IT FURTHER RESOLVED that a denial of a petition, in whole or in part, by the Board of Equalization may be appealed by selecting one of the following three options; however, said appeal must be filed within thirty (30) days of this resolution: 2002-2114 AS0052 mac- P}S, C A,r-c'a4. RE: BOE - MCGUIRE JAMES E & ANGELIQUE R Page 2 1. Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's (CBOE's) decision to the Board of Assessment Appeals (BAA). Such hearing is the final hearing at which testimony, exhibits, or any other evidence may be introduced. If the decision of the BAA is further appealed to the Court of Appeals, only the record created at the BAA hearing shall be the basis for the Court's decision. No new evidence can be introduced at the Court of Appeals. (Section 39-8-108(10), C..R.S.) Appeals to the BAA must be made on forms furnished by the BAA, and should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: (303) 866-5880 OR 2. District Court You have the right to appeal the CBOE's decision to the District Court of the county wherein your property is located. New testimony, exhibits or any other evidence may be introduced at the District Court hearing. For filing requirements, please contact your attorney or the Clerk of the District Court. Further appeal of the District Court's decision is made to the Court of Appeals for a review of the record. (Section 39-8-108(1), C.R.S.) OR 3. Binding Arbitration: You have the right to submit your case to arbitration. If you choose this option the arbitrator's decision is final and your right to appeal your current valuation ends. (Section 39-8-108.5, C.R.S.) Selecting the Arbitrator: In order to pursue arbitration, you must notify the CBOE of your intent. You and the CBOE select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located will make the selection. 2002-2114 AS0052 RE: BOE - MCGUIRE JAMES E & ANGELIQUE R Page 3 Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the CBOE are entitled to participate. The hearings are informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records, documents and other evidence. He also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing may be confidential and closed to the public, upon mutual agreement. The arbitrator's written decision must be delivered to both parties personally or by registered mail within ten (10) days of the hearing. Such decision is final and not subject to review. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the CBOE. In the case of residential real property, such fees and expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 5th day of August, A.D., 2002. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO �Mit EXCUSED GI n aad, Chair rk to the Board iaei ��Dr_ David . Lon , Pro-Te • Ciu to the Board M. J. eile Ate' " D AS TO FORM: EXCUSED i `/1 lC[,// cr____ ty,lliam H. erke As ' tant C inty Att y 2 Robert Masden Date of signature: /7 '-fl)') - v.)- 2002-2114 AS0052 OFFICE OF COUNTY ASSESSOR NOTICE OF DENIAL 1400 NORTH 17th AVE. PT NE4 6-2-65 LOT A REC EXEMPT GREELEY,CO 80631 RE-2299 ( . 21R) SITUS : 11837 39 CR PHONE(970)357-384i,EXT 3650 Wi`Ac. WELD COLORADO OWNER: MCGUIRE JAMES E & ANGELIQUE R MCGUIRE JAMES E & ANGELIQUE R LOG 193 P O BOX 775 PARCEL 1307060000 ACCOUNT R8912300 FT LUPTON, CO 80621 YEAR 2002 • The appraised value of properly is based on the appropriate cuusidemtiun or approaches to value reyuirrd by law. Tuue Assessut has determined that - sour property should be included in the following category(ies): Residential property - The property is valued by the market aproach to value. 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 as follows: Your property has been uniformly valued following Colorado law and instructions published by the State Division of Property Taxation. Your protest of value has been denied due to comparison of other similar properties which sold during the 1999/2000 time period. This comparison shows your actual property value to be correct for that period. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW' RESIDENTIAL 233432 233432 TOTALS $ $ 233432 $ 233432 APPEAL DEADLINES: REAL PROPERTY-JULY 15,PERSONAL PROPERTY-JULY 22. 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. Please see the back of this form for detailed information on tiling your appeal. By: StanleyF. Sessions 06/21/2002 WELD COUNTY ASSESSOR DATE I 5-DPT-AR Form PR-207-87/99 ADDITIONAL INFORMATION ON REVERSE SIDE YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real property(land and buildings) and personal property(furnishings, machinery, and equipment) 39-8-104 and 39-8- 107(2), C.R.S. APPEAL PROCEDURES: If 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 15 FOR REAL PROPERTY, AND JULY 22 FOR PERSONAL PROPERTY. WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970)356-4000 Ext. 4225 NOTIFICATION OF HEARING: You will be notified of the time and place set for the hearing of your appeal. COUNTY BOARD OF EQUALIZATION'S DETERMINATION: 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 5. TAXPAYER RIGHTS FOR FURTHER APPEALS: If you are not satisfied with the County Board of 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): Contact the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (303)866-5880. An appeal form, rules and guidelines can be obtained on-line at 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, you must file an appeal with the Board o Asscasuteui Appca is by September 11. 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, 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. s rkt, iss etc; ©n \ n wo ?a< rC} s ` s A, coN 6,{Tex . 14-4 \., �.j, .� -c,VAA)L LS c.�f�,� . U��.a.�.�4. ro %_ sic- J J sT` vc-�va.wo-s 1Yolao. (� s.a 9C ,s 0,Jr '1...� IN" 6�-`Nz+F\Nkc.‘.ak �� t kcEj� to set, so3 ' ��'(�,�,w•,c\.w,'� �o b4, n��tat QS s�ol., 7 �7 SIGN ILI:UI P ilttu % J� DAlt/ yfo / "l a CLERK TO THE BOARD PHONE (970) 356-4000 E2 4217 FAX: (3(3033) 352-0242 WEBSITE: www.co.weld.co.us 'D915 10TH STREET P.O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO July 17, 2002 MCGUIRE JAMES E &ANGELIQUE R P O BOX 775 FT LUPTON CO 80621 Parcel No.: 130706000016 Account No.: R8912300 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 31, 2002, at or about the hour of 2:00 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, First Floor Hearing Room, 915 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 5,2002, and mailed to you on or before August 12, 2002. 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. At least two (2) working days prior to your hearing the Assessor will have available, at your request, the data supporting his valuation of your property. MCGUIRE JAMES E & ANGELIQUE R - R8912300 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION iitelladd4 Donald D. Warden, Clerk to the Board BY: Carol A. Harding, Deputy cc: Stanley Sessions, Assessor f t Ill , — a, = r jm - �1 -? d7 10 ,, ' j t ail .2 Ln = r 4 oN U v O C U - r « o C�48 E O 0 S WELD COUNTY STANLEY F. SESSIONS COUNTY ASSESSOR MICHAEL F. SAMPSON, CHIEF APPRAISER APPRAISAL REPORT OF RESIDENTIAL IMPROVED PROPERTY FOR County Board of Equalization MCGUIRE JAMES E & ANGELIQUE R PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 1307-06-0-00-016 Schedule Number: R8912300 Log Number: 193 Date: July 31, 2002 Time: 2:00 p.m. Board: CBOE PREPARED BY VERMEDA L. EVANS, REGISTERED RESIDENTIAL APPRAISER .�1�� vL� ri/ �JZ S' natuYe !ate ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR VALUE $ 233,432.00 CBOE_RES_010898 Page 1 GENERAL DESCRIPTION AND MARKET SUMMARY SUBJECT SITE AND IMPROVEMENTS This property is located at 11837 39 CR in the county of WELD. The legal description of the property is PT NE4 6-2-65 LOT A REC EXEMPT RE-2299 (.21R) SITUS: 11837 39 CR WELD. Utilities available to the site are typical for the area. The residence is a Frame Vinyl house constructed in1998. It has 1391 square feet of finished living area. There are 3 bedrooms. The Assessor has classified the structure as a Modular home of Fair quality, using Fair quality materials. M.M,Y " .,. " r wh'Whrtr Y CBOE_RES_010898 Page 2 MARKET APPROACH SUMMARY Real property for the tax year 2002 must be valued utilizing the level of value for the period of one and one-half years immediately prior to July 1, 2000. A period of five years immediately prior to July 1, 2000 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a class of property. Said level of value shall be adjusted to the final day of the data-gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof{39-1-104(11)(b)(I), CRS). The Weld County Assessor has an established ongoing Sales Confirmation and Validation Program for property transactions used in developing values. The subject property has been classified as Residential for assessment purposes. Residential property value shall be determined by appropriate consideration of the Market Approach to Value {39-1-103(5)(a), cRs}. The Assessor has considered this approach to value for the subject parcel. INDICATED MARKET VALUE $ 233,432.00 CSOE_RES_010898 Page 3 WELD County ASSESSOR Comparables Report with Adjustment Grid Subject Comp #1 Comp #2 Comp #3 SDate/Price $0 01/31/2000 $196,100 06/30/1999 $261,000 07/30/1999 $168,000 Parcel# 130706000016 147317401001 130707401005 147118000064 Account# R8912300 R6390786 R5133086 R6236686 Address 11837 39 CRWELD 19531 195 HUDSON 10343 39 WELD 12679 8.5 WELD Nbhd 5201 02 5201 02 $0.00 5201 02 $0.00 4209 02 $0.00 Land SF 0 0 $0.00 0 $0.00 43560 $0.00 Occupancy Single Family Residen Single Family Resi $0.00 Single Family Resi $0.00 Single Family Resi $0.00 Bit As Modular Modular $0.00 Ranch 1 Story $0.00 Ranch 1 Story $0.00 Year Built 1998 1995 $100.00 2000 $100.00 1972 $100.00 Quality Fair Fair $0.00 Fair $0.00 Fair $0.00 Condition Average $0.00 $0.00 $0.00 Class $0.00 $0.00 S $0.00 Exterior Frame Vinyl Frame Hardboard $0.00 Frame Shingle $0.00 Frame Hardboard $0.00 Bldg SF 1,391 1354 $15.00 1125 $15.00 1056 $15.00 Bsmnt Unfin 0 0 $0.00 1125 $5.00 0 $0.00 Bsmnt Fin 0 0 $0.00 1,125 $25.00 0 $0.00 Bsmnt Wlkout 0 0 $0.00 0 $0.00 0 $0.00 Garage 0 0 $0.00 520 $18.00 660 $18.00 Rooms 6 6 $0.00 5 $0.00 5 $0.00 Bedrooms 3 3 $0.00 2 $1,000.00 3 $0.00 Bathrooms 2 2 $0.00 2 $0.00 2 $0.00 Time 1 9.00°A 21.00% 13.00% Other $27,170.00 ($5,722.00) 655,855.00 Adjustments Location $0 $0 $0 Land Size $0 $0 $0 Occupancy $0 $0 $0 Built As $0 $0 $0 Age $300 ($200) $2,600 Quality $0 $0 $0 Exterior/Class $0 $0 $0 Building Size $555 $3,990 $5,025 Basement $0 ($33,750) $0 Garage $0 ($9,360) ($11,880) Rooms $0 $0 $0 Bedrooms $0 $1,000 $0 Bathrooms $0 $0 $0 Time $17,649 $54,810 $21,840 Other $27,170 ($5,722) $55,855 Total Adjustments $45,674.00 $10,768.00 $73,440.00 Adjusted Sales Price $241,774.00 $271,768.00 $241,440.00 Adjusted Sales$/SF $173.81 $195.38 $173.57 t $/SF Market for Subject $173.00 Final Market Value $240,643 Comparable Number 1 ••„t CBOE_RES_010888 Page 4 Comparable Number 2 Arissuog s, 1 zt . ,r I r A �'�A Sc I ., I �I . . N. ♦) ..-- .e..,,, 1 CBOE_RES_010898 Page 5 Comparable Number 3 ..dirk CBOE_RES_010898 Page 6 3DutStM Rd en ;...car ,4co. , . 6. r 4.,.. ; c ; M O I m i0 s c + > 01 E y- o i 4 V .4 1 z •- a vJ 1 ul en nliE 0 viz /, - 1 Islm Rd ♦ �r a ... + + 4.)r O e---1-- ai 2o 1c ' r .Q . d I V f tLt i ��' R {/1 if! 3 i t4s $' .:',1 . .o pfd t‘1177 t no 1K lr ii n. © • ♦ 'f a u !V — '^ • Ifir �: 41 J a. • 1.tip N V p, d �aa. f VI .1'" s ' ♦.1 r '�' N o C 1 0 IIi a 7i O N ii.`g g 0` t V _ _ II L �v ;' 1 1 r tt )). 7 Vl 2� FJ as Iti • 1 1 August 4, 2002 Re: Elfm Forest To Whom It May Concern: Elfin Forest was started in 1998 when Connie and Wm. Robert Brown purchased the property in Weld County on WCR #39. Elfm Forest will be a choose and cut Christmas Tree Plantation. Trees were planted in 1998, 1999, and 2000. However in 2000 a grass fire was started in the ditch area along WCR #39 which is not maintained by Weld County and burned more than 40 Acres of our property including all the seedling we had planted. I talked to a CSU extension representative located in the Adams County Fair grounds complex. He recommended that we disc up the entire burned area to recover the minerals and nutrients from the trees and grass. He suggested that we let the area rest for a year and not to replant until the spring of 2002. We decided to take his advice and waited until this year to re-plant our trees. We chose not to plant this year due to the drought because we have to purchase water for irrigating the trees. We currently have in a federal grant application with the Department of Agriculture for adding irrigation wells and purchasing the proper water rights for irrigation under the state guidelines and the local water board. We plan to replant trees starting the spring of 2003. We will be purchasing the seedling from the Oklahoma State Nursery. We plan to plant 5,000 trees next year and expand to 10,000 trees per year with in four years. If you have any additional questions about our business, you may contact me at 303-536-0351 or at post office Box 603 Fort Lupton, Colorado 80621. Mail delivery is not safe at the property due to the fact that we are required to put the mail box more than a mile from our property to get it on a county maintained road, which is required by the United States Post Office in order to deliver mail. Sincerely, Wm. Robert Brown Jr. General Manager Elfin Forest L.L.C. 4. EXHIBIT • ot Lease Agreement Lease Agreement,made between James and Angelique McGuire(Landlord)Connie and William Brown DBA Woifhaven Farms(Lessee). For good consideration it is agreed between the parties as follows: 1.Landlord hereby leases and rents to Lessee the premises described as follows:The east 5 +1-acres of lot with the address 11837 Weld County Road#39,Fort Lupton Colorado 80621. The lot is provided with no amenities except water. Fencing is to be by Lessee. 2.This Lease shall be in effect for a term of 5 years commencing on January 1,2001 and terminating on December 31,2006. 3.Lessee shall pay Landlord the annual rent of$600.00 during said term,in monthly payments of$50.00 each,payable monthly in advance. 4.Lessee shall pay for any fencing installed on the property to contain livestock. 5.Tenant further agrees that: a.Upon the expiration of the lease it will return possession of the leased premises in its present condition,reasonable wear and tear,and fire casualty excepted. Tenant shall commit no waste to the leased premises. b.It shall not assign or sub-let or allow any other person to occupy the leased premises without Landlord's prior written consent. c. It shall not make any material or structural alterations to the leased pneudses,except fencing for containment of livestock,without Landlord's prior written consent. d. It shall comply with all building,zoning and health codes and other applicable laws for said leased premises. e.It shall not conduct a business deemed extra hazardous,a nuisance or requiring an increase in fire insurance premiums. Tenant warrants the leased premises shall be used only for the following types of business: 1.Horse Boarding Services. 2.Photography. f.In the event of any breach of payment of rent or any other allowed charge,or other breach of this Lease,Landlord shall have full rights to terminate this Lease in accordance with Colorado state law and re-enter and claim possession of the leased premises,in addition to such other remedies available to Landlord arising from said breach. 6. This Lease shall be binding upon and inure to the benefit of the parties,their successors,assigns and personal representatives. Signed this 1st day of December,2000. 97//74d M andlordJames McGuire Land ord g que McGuire idiArflfre Lessee Connie Brown DBA Wolfhaven Farms Lessee William Brown DBA Wolfhaven Farms [1 EXHIBIT Uern3ce WELD County ASSESSOR Comparables Report with Adjustment Grid Subject Comp #1 Comp #2 Comp #3 cr SDate/Price - $0 01/31/2000 $196,100 06/30/1999 $261,000 07/30/1999 $168,000 Parcel# 130706000016 147317401001 130707401005 147118000064 Account# R8912300 R6390786 R5133086 R6236686 Address 11837 39 CRWELD 19531 195 HUDSON 10343 39 WELD 12679 8.5 WELD Nbhd 5201 02 5201 02 $0.00 5201 02 $0.00 4209 02 $0.00 Land SF 0 0 $0.00 0 $0.00 43560 $0.00 Occupancy Single Family Residen Single Family Resi $0.00 Single Family Resi $0.00 Single Family Resi $0.00 Bit As Modular Modular $0.00 Ranch 1 Story $0.00 Ranch 1 Story $0.00 Year Built 1998 1995 $100.00 2000 $100.00 1972 $100.00 Quality Fair Fair $0.00 Fair $0.00 Fair $0.00 Condition Average $0.00 $0.00 $0.00 Class $0.00 $0.00 S $0.00 Exterior Frame Vinyl Frame Hardboard $0.00 Frame Shingle $0.00 Frame Hardboard $0.00 Bldg SF 1,391 1354 $15.00 1125 $15.00 1056 $15.00 Bsmnt Unfin 0 0 $0.00 1125 $5.00 0 $0.00 Bsmnt Fin 0 0 $0.00 1,125 $25.00 0 $0.00 Bsmnt Wlkout 0 0 $0.00 0 $0.00 0 $0.00 Garage 0 0 $0.00 520 $18.00 660 $18.00 Rooms 6 6 $0.00 5 $0.00 5 $0.00 Bedrooms 3 3 $0.00 2 $1,000.0O 3 $0.00 Bathrooms 2 2 $0.00 2 $0.00 2 $0.00 Time I 9.00°A 21.00% 13.00% Other • $27,170.00 ($5,722.00) 655,855.00 Adjustments Location $0 $0 $0 Land Size $0 $0 $0 Occupancy $0 $0 $0 Built As $0 $0 $0 Age $300 ($200) $2,600 Quality $0 $0 $0 Exterior/Class $0 $0 $0 Building Size $555 $3,990 $5,025 Basement $0 ($33,750) $0 Garage $0 ($9,360) ($11,880) . Rooms $0 $0 $0 Bedrooms $0 $1,000 $0 Bathrooms $0 $0 $0 Time $17,649 $54,810 $21,840 Other $27,170 ($5,722) $55,855 Total Adjustments $45,674.00 $10,768.00 $73,440.00 Adjusted Sales Price $241,774.00 $271,768.00 $241,440.00 Adjusted Sales$/SF $173.81 $195.38 $173.57 t $/SF Market for Subject $173.00 Final Market Value $240,643 1 EXHIBIT W11I 5 GENERAL DESCRIPTION AND MARKET SUMMARY SUBJECT SITE AND IMPROVEMENTS :This property is located at 11837 39 CR in the county of WELD. The legal description of the property is PT NE4 6-2-65 LOT A REC EXEMPT RE-2299 (.21R) SITUS: 11837 39 CR . WELD. Utilities available to the site are typical for the area. The residence is a Frame Vinyl house constructed in1998. It has 1391 square feet of finished living area. There are 3 3 bedrooms. The Assessor has classified the structure as a Modular home of Fair quality, using Fair quality materials. - . ._ —/ «,5 i l!�'. � J-.ih • ELK 'T4 �,✓ma.'yy�'-".Y''nL 'n91iW�IlL:a�y�y. �.i..er..s"m' +rY•�'^� a i" N....�� y.ea.,�+t..=.+us•... ,w-xs. .i« CBOE-RES_010898 Page 2 ofr Comparable Number 2 iff / ' • ,max -,-Au?'\"""---a C -z-s-r. :. .,z,+Y `�'°gz` ' r, [ 2 w.tt,f,Q L �` ��,yL 3N i Afit �> v '� 1r� �- z,, ��'�°'�� saw � 2{ , 3 4, a.Yt• A 11 •' 1..C1 .it..,,,y as t\ ri - ,, t)Air 1 1 s V h h tif CHI ill l�, Fz .,., I S. � L CBOE_RES 010898 Page 5 COMPARABLES PHOTOGRAPH ADDENDUM 08 '7] 1101-534 Borrower/Client McGuire Y P upexty Address 11837 Weld County Rd 39 City Fort Lupton County Weld• State CO. Zip Code 80621 Lender Vectra Bank of Colorado e.: 8. COMPARABLE SALE#I 8436 Weld County Rd 31 Fort Lupton,CO.(mail) sE Date of Sale: 09/23/2001 Sale Price . 290,000 Sq.Ft. 1,760 $/Sq.Ft 164.77 1 11v •nC �r�F 2\Yn,rJ ref§••,� p..., 1. :Crs s ( n if n 5 r � t rm WI COMPARABLE SALE#2 "ASil a F'1 �1`y t'ti +k t' 15734 Weld County Rd 32 k • ';; hk ( 1.. ' Po+ti wi,f �. Platteville,CO.(mad) Date of Sale : 06/01/2001 * ;y Sale Price 222,000 Sq.Ft. 1,512 mai E/Sq.Ft 147 COMPARABLE SALE#3 L--rcr -"Cr +_ 15689 Nancy 4 — Fort Lupton,CO Date of Sale 08/24/2001 SalePrice 144,900 �., lf� Sq.Ft 7,248 E/Sq.Ft 116 ifdt { ,I Day One Forms for Windows,1995-1 800-GET-DAY! I, SUMMARY APPRAISAL REPORT UNIFSM RESIDENTIAL APPRAISAL SORT 08 Property Description File No. 1101-534 i', Property Address 11837 Weld County Rd 39 City Fort Lupton State CO. Zio Code 80621 Legal Description PT NE4 6-2-65 Lot A REC EXEMPT RE-2299 County Weld Assessor's Parcel No. 130706000016 Tax Year2000 R.E.Taxes.$ 489.06Saecial Assessments$ None Borrower McGuire Current Owner McGuire Occupant: X Owner Tenant I Vacant @!Property ricth _appraised X Fee Simple Leasehold Project Type PUD Condominium(HUDNA only) HOA$N/A /Mo. M,Neighborhood or Project Name Weld County Map Reference 264,Sect.62ICP Census Tract 19.02 t $ale Price$Refinance Date of Sale N/A Description and$amount of loan charges/concessions to be paid by seller None Lender/Client Vectra Bank of Colorado Address 112 S.Denver Ave.P.O.Box 330 Fort Lupton CO,80621 . Annraiser DK -tomes&Appraisal S avice LI,C Address 135 West Hill ;t..FT.Lupton.CO 80621 Location Urban _Suburban X Rural Predominant Single family housin Present land use% d use ch e PRICE Built up _Over 75% _25-75% X Under 25% occupancy $(000) (yes One family 20 X Not likely I j Likely .3 Growth rate Rapid X Stable _Slow X Owner 100 Low New 2-4 family In process Property value Increasing X Stable Declining Tenant 450 High 100 Multi-family 0 To: Demand/supply _Shortage X In balance Over supply X Vacant(0-5%) Predominant Commercial ' Marketina time Under 3 mos. X 3-6 mos. Over 6 mos. Vacant(over 5%) 200 20 Vacant 80 :° Note: Race and the racial composition of the neighborhood are not appraisal factors. a,Neighborhood boundaries and characteristics:The neighborhood boundaries are south of county road 38,east of county road 49,north of county road 2 a g east of county road 13. isic Factors that affect the marketability of the properties in the neighborhood(proximity to employment and amenities,employment stability,appeal to market,etc.): CI The subject neighborhood consists of single family homes on varying size acreages,farms and open land in south part of Weld County. The neighborhood i hpopular with residents who work in the area and the Denver metro employment area,but enjoy living in the country. Much of the Denver metro area can be accessed within hour driving time or less from Highway 85 and 76. It is a similar distance to the city of Boulder,Greeley and Longmont. Shopping, employment,parks and schools are located in Fort Lupton. Major retailers are to the south in the city of Brighton. Market conditions in the subject neighborhood (including support for the above conclusions related to the trend of property values,demand/supply,and marketing time --such as data on competitive properties for sale in the neighborhood,description of the prevalence of sales and financing concessions,etc.): Market sales data remains good in this area. The dominant form of financing is conventional loans. Interest rates have stabilized and financing is a availabl Marketing times in this neighborhood are typical of the overall market place. Seller points range from 0 to 3% and are typical in this market place. Sales financing concessions do occur but are not typical. ril Project Information for PUDs (If applicable)-- Is the developer/builder in control of the Home Owner's Association(HOA)? Yes X No. yj Approximate total number of units in the subject project N/A Approximate total number of units for sale in the subject project N/A al Describe common elements and recreational facilities. N/A Dimensions No Survey Provided _.Topography Slightly sloping III Site area 6 Acres+/- Rectangular _Corner Lot Yes X No Size Average for area Specific zoning classification description Residential/Agriculture Shape Rectangular '.-f Zoning compliance n Leg I I Legal nonconforming(Grandfathered use) Illegal No zoning Drainage Appears adequate Highest&best use as improved: X Present use Other use(explain) View Typical for area Utilities Public Other Off-site Improvements Type Public Private Landscaping Natural+ Electricity X Street Dirt-Typical X Driveway surface Dirt ctii Gas Propane/Typical Curb/gutter None-Typical _ Apparent easements Public utilities Water Pvt.well/Typical Sidewalk None-Typical _ FEMA Special Flood Hazard Area Yes X No a Sanitary sewer Septic System/Typic Street lights None-Typical FEMA Zone C Map Date 09/28/1982 Storm sewer None/Typical Alley None FEMA Mao No. 080266 0900 C t Comments(apparent adverse easements,encroachments,special assessments,slide areas,illegal or legal nonconforming zoning use,etc.): No adverse conditions were I. apparent from an inspection of the site and surrounding neighborhood. subject is not located in a slide area.No adverse conditions were apparent from an _ j inspection of the site and surroun jing neighborhood. "GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION No.of Units One Foundation P.Concrete Slab None Area Sq. Ft. 0 Roof _ . No.of Stories One Exterior Walls Wood Crawl Space Yes % Finished Ceiling e Type(Det./Att.) Detached Roof Surface Composition Basement None Ceiling Walls Design(Style) Ranch Gutters&Dwnspts. None Sump Pump None _ Walls Floor 11 Existing/Proposed Existing Window Type Dampness None Noted Floor None Age(Yes.)& 1998 Storm/Screens Screens Settlement None Noted Outside Entry None _Unknown X Effective Age(Yes.) 3 Manufactured House No Infestation None Noted ROOM Foyer Living Dining_ Kitchell_ Den Family Rm. Rec. Rm. Bedrooms i/Baths Laundry Other AreaSgiL,. Basement 0 Levell 1 I 3 2 1 1,404 Level 2 Ci V Finished area above grade contains. 7Rooms. 3Herlrcnm(.$)- 2.0Bath(s)• 1.404Square Feet of Gross Living Area INTERIOR Materials/Condition HEATING KITCHEN EQUIP. ATTIC AMENITIES CAR STQP,GE: 4,Floors Carpet/Vinyl/Avg_Type FA Refrigerator P None _ Fireplace(s)it _ None Walls Panel/Avg Fuel Propane Range/Oven X Stairs Patio Rear X Garage #of cars Trim/Finish Pt Wood/Avg Condition Working Disposal X Drop Stair Deck _ Attached Bath Floor Vinyl/Avg COOLING Dishwasher X Scuttle X Porch Entry X Detached 4 Bath Wainscot Fri-glass/Avg Central None Fan/Hood X Floor � Fence Wire X Built-In , Doors Pt HC Wood/Avg Other None Microwave _ Heated _ Pool _ Carport Vaulted Ceiling Condition Washer/Dryer Finished Driveway open narking in Additional features(special energy efficient items,etc.):Insulation and double pane windows.SEE TEXT ADDENDUM FOR ADDITIONAL 1 INFORMATION AND LIMITING CONDITIONS. H Condition of the improvements,depreciation(physical,functional and external), repairs needed, quality of construction, remodeling/additions,etc. 5 No measurable functional or external obsolescence noted upon inspection of the subject or the surrounding neighborhood. Depreciation is average for the ag and condition of the subject. Construction is of average to good quality. No repairs noted at the time of inspection. _ G u Adverse environmental conditions(such as,but not limited to, hazardous wastes,toxic substances, etc.)present in the improvements,on the site or in the immediate vicinity of the subject property: No adverse environmental conditions were observed upon an inspection of the subject site and the surrmmdinv neighborhood The annraiser is not nualified to detect adverse environmental factors Freddie Mac Form 70 6-93 Day One Forms for Windows,1997 1 900-GET-DAy1 PAGE 1 OF 2 Fannie Mae Form 1004 6-93 DK Homes and Appraisal Service, LLC ,41 O8 Section File No. 1101-534 MATED SITE VALUE =$ 50,000 Comments on Cost Approach(such as,source of cost estimate (MATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: site value,square foot calculation and for HUD,VA and FmHA,.M elling 1,404 Sq. Ft. @ 65.00 =$ 91,260 the estimated remaining economic life of the property): 0 Sq. Ft. @ = 0 Cost estimates are based on information obtained from the Marshall rUpgrades/Appliances/Interior finish. = and Swift Residential Cost Handbook with adjustments made for local Garage/Carport Sq. Ft. @ = factors. Total Estimated Cost New =$ 91,260 FHA-Subject meets HUD's minimum property standards for housing Physical Functional External as outlined in 4905.2 ml Less Depreciation 2 7381 01 0 =$ 2,738 Depreciated Value of Improvements =$ 88,522 "As-is"Value of Site Improvements =$ 15.000 Remaining economic life is expected to be 55 to 60 years. =1 INDICATED VALUE py COST APPROAC H =$ 153422 ITEM I SUBJECT COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO.3 Address 11837 Weld County Rd 39 8436 Weld County Rd 31 15734 Weld County Rd 32 15689 Nancy • Fort Lupton,CO.(mad Fort Lupton CO.(mail) Platteville,CO (mail) Fort Lupton,CO _ Pro 'u' • • ,;t17:t::,,: 5 ties w- t 1 miles north 5 miles southwest Sales Price $ Refinance ,�".m s+uv 290 000' 222 000, 144 900 Pr ce%S29ss Liv.Area $____ 0.00 $ 164.77 If ° $ 147 �"((i ) i )(1: ,$ _ 116 ..ar eruil ` , Data and/or 11/28/2001 Realtor/MLS MLS/Realtor MLS/Realtor Verification Source Inspection DOM 54 DOM 131 DOM 134 VALUE ADJUSTMENTS • •k DESCRIPTION .(-)S Adjustment DESCRIPTION .0S Adjustment _DESCRIPTION +I-1$Adjustment kkt Sales or Financing ' %y,5„.. e : Cony.loan Cony.loan Cony.loan Concessions si.- ..',J,iw,'-y.t .` 0%SIr Pnts 0%Slr Pnts 0%SIr.Pots. Date of Sale/Time N/A 07/23/2001 06/01/2001 08/24/2001 LQcat4n Weld County Weld County Weld County Aristocrat Leasehold/Fee Simple Fee Fee Fee Fee Site 6 Acres+/- 12 Acres+/- -20,000.5 Acres+/- 1 Acre+/- 16,000 View Typical for area Typical for area Typical for area Typical for area Qesigl and.ApReal Ranch/Avg/Manuf Ranch/Avg/Manuf Ranch/Avg Ranch/Avg/Manuf Quality of Construction Average Average Average Average ASS 1998 2001 1925 1996 Condition Average New -1,000 Average/remodeled Average Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Room Count 7 3 2.0 8 3 2.0 6 3 2.0 9 4 2.0 Gross I tying Area 1,404Sq Ft. 1,760Sq. FL -8.900. 1,512Sa Ft. -2,700 1,248Sq, Ft. 3,`100 Basement&Finished None 1760 Sq Ft -21,100 None None Rooms Below Grade None Unfinished None None y, Functional Utility Average Average Average Average Heating/Cooling F Air/None F Air/None F Air/None F Air/None •: Enemy Efficient Item Insult/DB Wind. Tnsult/DB Wind. Insult/DB Wind. Typical Garage/Carport None None None None Porch, Patio,Deck, Entry/Patio Entry/Patio Entry/Deck Entry 1,000 Fireolace(s).etc. None 1 Fireplace -1,000 1 Fireplace -1,000 None Fence. Pool.etc. Natural/Fence Similar Bam/Otbld,Coral/F -20,000 Natural/Fence Upgrades: Int Finish/A I Similar Similar Similar I Net Adi. (total) +s. - r 1+ I X I- $ -52,000 +.___2(.=____,� ] -23,700 I X F+ I- $ 20,900 Adjusted Sales Price I 1.f , . r -17.9 0/0 Net -11 %Net 14 %Net nf Qmmnarahle a '�.+s?x dr""Y 17.9 %Grs $ 738.000 11 %Grs $ 198300 14 %Grs $ 165.800 Comments on Sales Comparison(including the subject property's compatibility to the neighborhood,etc.):All sales are current and considered the j best market data which was similar to the subject property. Each sales competes with the subject in this market place. Financing is considered typical for thi area and marketplace. All sales are verified and closed. ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO.3 Date,Price,and Data No prior sales No prior sales No prior sales No prior sales Source,for prior sales data found data found data found data found within year of appraisal within 12 Mo within 12 Mo within 12 Mo. within 12 Mo Analysis of any current agreement of sale,option,or listing of the subject property and analysis of any prior sales of subject and comparables within one year of the date of appraisal: No prior sales data found on subject property. INDICATED VALUE BY SALES COMPARISON APPROACH $ 190,000 ' INDICATED VALUE grYJNCOME APPROACH (If Applicable)Estimated Market Rent$N/A /Mo.x Gross Rent Multiplier N/A =$ N/A This appraisal is made I x 'as is' subject to repairs,alterations,inspections or conditions listed below subject to completion per plans and specifications. Conditions of Appraisal: The subject property was appraised in its current condition as of the appraisal date. No repairs or other conditions to the final estimate of value are required. Final Reconciliation: The market data approach is-given the most consideration since it is the best and most reliable indicator of the market value. The cost approach supports the final estimate of value. Lack of historic rental data renders the income approach inapplicable. 4 The purpose of this appraisal is to estimate the market value of the real property that is the subject of this report,based on the above conditions and the certification,contingent and limiting conditions,and market value definition that are stated in the attached Freddie Mac Form 439/Fannie Mae Form 1004B(Revised June 1993 ). 7y I(WE)ESTIMATE THE MARKET VALUE,AS DEFINED,OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT,AS OF 11/28/2001 4.i(WHICH IS THE DATE OF INSPECTION AND THE EFFECTIVE DATE OF THIS REPORT)TO BE$ 190.000 q APPRAISER: • SUPERVISORY APPRAISER(ONLY IF REQUIRE: _ Signature n Did Did Not Name D.Robert om ns Name Inspect Property Date Report Signed 11/28/2001 Date Report Signed State Certification# State State Certification# State Cr State I irpncp if AT O1171116 State CO Or Sfafe I irancp at Sfatn Freddie Mac Form 70 6-93 Day One Forms for Windows,1997 1 800-GET-DAY( PAGE 2 OF 2 Fannie Mae Form 1004 6-93 SUi.:;;LEMENTAL SALES 4 5 6 ADDE[, UM 08 } File No. 1101-534 ` Comparable No.4 Comparable No.5 Comparable No.6 !J, ITEM SUBJECT - 837 Weld County Rd 39 7485 Patrick Ave Address Fort Lu r ton O. mail Fort Lupton,CO. -- - - #' k' "` rl 5 miles southwest Proximity to Subject ,•., r' _ 1j i J �.}r sr 5 2 000 ; T C; y .•7 S ' Sales Price Refinance -4.., ': I sF Price/Groa -O-.6 Liv.Area 0.00 S 107.16 's F V ., Data and/or 11/28/2001 Realtor/MLS v,; :.,., Inspection DOM 43 r VALUE ADJUSTMENTS s E TI I N r .. I c • r %t a - • .0 h t I RIPTIQN +- Adjustment Sales or Financing : Cony.loan - — -•_Coecessious 3 1° Ir.it- — } Datc• -I- I /• 1 If . 111 -- - ]ovation eld County Aristocrat Leasehold/Fee Sienole ee Fee k. s• +1- ► +1- 16 000 — 'r View t. Typical for area Typical for area De i s an• •• al tineh/ v anuf c t Av J anu — '(Quality ofConstruction vera_e Avera:e `A_ge 1998 1998 -- — — — '1'Condtion vera a Good -5 000 _ — .• — - - Above Gradc . t • :I• Room Count Gross Living Area 1 404S•.Ft. 2 109 i.F -17 625 Sq.Ft. FL .—_- ra',Basement&Finished one 2109 Sq Ft -25,300 Rooms Below Gradc I one Unfinished - — - — - Functional Utili Avera a Avers:e 1 Heatin Coolin: Air/None F Air/None — - •'Energy Efficient Items Insult/DB Wind. Insult/DB Wind. Gar : ,,,, of .n Porch,Patio,Deck, I ntry/Patio Entry/Deck Firenlacels).etc. I one 1 Fireplace -1.000 --- -- — Fence P•• .. atural/Fence S. t•ar „,t ,•ra, : Inn Fin t •• i t' ar ■ R Ail' r :1 ' X�s 32925■�+ 01N+ �- 0 I�rt Adj.(tou1) �xz' . v �• 0%Net O%Net Adjusted Sales Price r �., r 13 14.6%Net f rabk � "u_ ., vim- 28.7%Grs S 193,075 .— %S,rs S 0 %Gn S 0 41�a ITEM SUBJECT Comparable No.4 Comparable No.5 tile ..6 gai Date,Price and Data . o prior sales No prior sales qSource for prior sales data found data found CL, within rofas. isal within 12 Mo. witrin I2 Ms. aAnalysis of any current agreement of sale,option,or listing of the subject property and analysis of any prior sale of subject and comparables within one year of the date of appraisal: 1 See attached text addendum for additional information and limiting conditions _ . - - - . Comments on Sales Comparison(including the subject property's compatibility to the neighborhood,etc.): kt ti kc tp ?ct Ei. ti ---- ig l Day One Forms for Windows,1995-I 800-GET-DAY I DK Homes and Appraisal Service, LLC 08 1101-534 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to,or more favorable than,the subject property,I have made a negative adjustment to reduce the adjusted sales price of the comparable and,if a significant item in a comparable property is inferior to,or less favorable than,the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe,to the best of my knowledge,that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal,unbiased,and professional analyses,opinions,and conclusions,which are subject only to the contingent and limiting conditions specified in this form. I certify that,to the best of my knowledge and belief: The statements of fact contained in this report are true and correct. The reported analyses,opinions,and conclusions are limited only by the reported assumptions and limited conditions,and are my personal,impartial,and unbiased professional analyses,opinions,and conclusions. 4. I have no present or prospective interest in the property that is the subject of this report,and no personal interest with respect to the parties involved. I did not base,either partially or completely,my analysis and/or the estimate of market value in the appraisal report on the race,color,religion,sex,handicap,familial status,or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the subject property,and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client,the amount of the value opinion,the attainment of a stipulated result,or the occurrence of a subsequent event directly related to the intended use of this appraisal. 7. My analyses,opinions,and conclusions were developed,and this report has been prepared,in conformity with the Uniform Standards of Professional Appraisal Practice in place as of the effective date of this appraisal,with the exception of the departure provision of those Standards,which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report,unless I have otherwise stated in the reconciliation section. 8. I have made a personal inspection of the property that is the subject of this report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements,on the subject site,or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. No one provided significant professional assistance to the person signing this report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report,I have named such individual(s)and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report;therefore,if an unauthorized change is made to the appraisal report,I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report,he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report,have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,agree to be bound by the appraiser's certifications numbered 4 through 7 above,and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 11837 Weld County Rd 39 Fort Lupton CO. 80621 APPRAISER: SUPERVISORY APPRAISER Signature: Signature: Name: D.1 Name: Date Signed: 11/28/2001 Date Signed: State Certification#: State: State Certification#: State: or State License#:AL01321316 State: CO. or State License#: State: Expiration Date of Certification or License: 12/2002 Expiration Date of Certification or License: Day One Forms for Windows,1999 1800-GET-DAYI T U r _ L .5 2N U - •0 _c E = --c o N Ch N t` o c a) L N 0 O O3 -o > a) 0 > o a) E .� - o No ao S O_ N ° C N Ca C N C L U ai v NO -°p ..- NO >O N T N fq ._ o a) I. U ° Ln N Y 7 O1 J _ toil O O C N• O. co o_ fl. U d C N T'N a-C 7 N C d 1- = L E J+ CN CN - ° o .o Or O. N O xd'D _c 0 C ?• Cr.L.- C1 L1-O 3 C a) CD U N O O_ tar N E to r0 N L O C N o .w ° a) C N � "O -C C J L w T N -0 3 S L 'c N m y O V Y L J N (� �• U r co. E V r N >i C T N 3 O "O In' fA 7 "O N O U N U r O- O O. N >`U 7 N °- U d a) u) n. C aiC .o. c N -o L > N O. N E C Od LN CL... J C C C C O it a 0 Y O to Q co U N j o tic a) L 0 - 0 7 N O- •- O _ `O O N N T T O C C 3 U .O E N N a) (ti L .L.. a w Y In -° N ~ N .L- N r d 0 C O O 5. N N C is N O V D C UO r O— 01 O to >, 0 d to 5 3 a a m a c7) m .C °) tca m •o f > o E :co O co C ;y o" 0- ro d C O 7 C ' N N - O - - 7 U U C O — Y a) y o d 1:1 -O U 7 O _ C O. > L O co O) O) d N co m O C U 'L'- N U p C OL C Caw N .- d N C U _C N L U T 7 a) o N m .� N -c O N - 7 O) mi- OL _ ° ,O O E N N a) al N L O. N ca N •D -cm ' N O N N 2 ? c E p y O c O) 0. 7 U O 7 .y co O -° .L.. N — ti C O a E O V N L CD N Iii L "O N N .7- J C O G) o. OL C C o'L.. Din N CD N U O '.o _O U o m o d E -o N U ° Ca O C ›^1O C `_ U a) C L E tn E C W Q .c N C ro y J O. D al C 0 to a1 N 0 p�p ? c1 O O L U • O O 7 h F.L. U a) O_ C C O N O y d a) J N U m 2 a L 7 7 C E O O N L O N c 5 r C Ca ` N N E N L U 0-.C U L., O.C 7O co >. 3 E O o a7 7 c N N 7 ._ U ro L a C_c o L a .>.o O asca) L 3 • m y o ° a >. o m E co alL o.U'cu 3E a -o t ca= ad a) a) d o ± 120 d c a d I- .O O. c o o 3 . 7 C d o C U N N DI m L S U U E to c Ps C N N LL O G j N E , N Q c - U tf( Y "5 _ 7 0 0 a> C N a) N O Y m O U C O C C� ~ a) -O a) L ..L. O O v 0 _c co o_ a) 0 ;270 .- 0 —N ... ° O CD E -O c N O o C a) a) U c C "O N C O C j a) .- n 0 ca E U .T. td �. N E N N W C L CO U O 7 co 'p W T C - .013 O tai C 'O •••“) ,- �.'.>— ca N C) N ti N .. c C N r c 55 N N .N to N O O a N `r. or N C al . 9 ° o N ( LN-. N Ti T at N o N 0 N d m N O N N c 0 N on al W ' Y N N N N d Cr) ' ma- c "YE >Oaa)) na7_ a) 0- GI I 'a ,U- oCDCCCOd 22 7 000 0 C C o a) 0 N N a.E EO T O,m E C) co P7 N E N N -9-1 •O N N ° N uj V yCNCCN ' i M Emvi 0c0 � _ ° j0dEEms • 1. Z 4 e N Ir. > -o 4-. c .c E'er v c `m a) co , c o Q c 3 s:c c o c � � N T W r Len U O . of - .-- U � O N r = Ch Z LL W D 4 [4i. EXHIBIT ;23103 •RUG-04-2002 09 :33 PM MCGUIRE 3035360310 P. 02 Lease Agreement Lease Agreement,made between James and Angelique McGuire(Landlord)Connie and William Brown DBA Wolthaven Farms(l.easce), For good consideration it is agreed between the parties as follows: 1. landlord hereby leases and rents to Lessee the premises described as follows: The east 5 +1-acres of lot with the address 11837 Weld County Road 039, Fort Lupton Colorado 80621. The lot is provided with no amenities except water. Fencing is to be by Lessee. 2. This Lease shall be in effect for a term of 5 years commencing on January 1,2001 and terminating on December 31,2006. 3. Lessee shall pay Landlord the annual rent of$600.00 during said term,in monthly payments of$50.00 each,payable monthly in advance, 4.Lessee shall pay for any fencing installed on the pug.ty to contain livestock. 5.Tenant further agrees that; a. Upon the expiration of the lease it will return possession of the leased premises in its present condition,reasonable wear and tear,and fire casualty excepted. Tenant shall commit no waste to the leased premises. b.It shall not assign or sub-let or allow any other person to occupy the leased premises without Landlord's prior written consent. c.It shall not make any material or structural alterations to the leased premises,except fencing for containment of livestock,without Landlord's prior written consent. d. It shall comply with all building,zoning and health codes and other applicable laws for said leased promises. e. It shall not conduct a business deemed extra hazardous,a nuisance or requiring an increase in fire insurance premiums. Tenant warrants the leased premises shall be used only for the following types of business: 1. Horse Boarding Services. 2. Photography. f. In the event of any breach of payment of rent or any other allowed charge,or other breach of this Lease, Landlord shall have full rights to terminate this Lease in accordance with Colorado state law and re-enter and claim possession of the leased premises,in addition to such other remedies available to Landlord arising from said breach. 6.This Lease shall be binding upon and inure to the benefit of the parties,their successors,assigns and personal representatives. Signed this 1 at day of December, 2000. andlord lames McGuire Land ord que McGuire m c� Lasses Connie Brown DBA Wolthaven Farms Lessee William Brown BA Wolfhaven Farms AUG-04-2002 09 :34 PM MCGUIRE 3035360310 P. 03 tL 1.L i',f,i1mr'ucon ARTICLES OF ORGANIZATION Form 031 oONlirrA r1AvllsrLv Filing fee:$50.00 revised 12/31/01 na.*Ra(x>y1"'NI:,ARrr,rsrAm Deliver 2 copies to: Colorado Secretary of State Business Division, 20021068575 M 1560 Broadway, Suite 200 $ 50.00 Denver, CO 80202-5169 SECRETARY OF STATE This document must be typed or machine printed 03-19-2002 11:39:00 Please includes self-addressed envelope AMOYR R,ACR FOR errrce US$ ONLY The undersigned,a natural person eighteen years of age or older, intending to organize a limited liability company pursuant to § 7-80-203, Colorado Revised Statutes(C.R.S.), delivers these Articles of Organization to the Colorado Secretary of State for filing, and states as follows: I. The name of the limited liability company is: Elfin Forest L.L.C. The name of a limited liability company milt contain the term "limited liability company", "ltd. liability company", limited liability co.",or"ltd. liability co.'or the abbreviation "LIC"or"L.L.C."f7-90-601(3)[(c),CRS. 2. If known,The principal place of business of the limited liability company Is: 11829 W. C. R. #39 Fort Lupton. Colorado 80621 3. The name, and the business address,of the registered agent for service of process on the limited liability company are: Name Connie M. Brown ; Business Address(must be a street or other physical address in Colorado)11829 W.C. R. #39 Fort Lupton.Colorado 80621 If mail is undeliverable to this address, ALSO include a post office box address: P,O,Box 603 Fort Lupton, Colorado 80621 4. a. If the management of the limited liability company is vested in managers, mark the box *"The management of the limited liability company is vested in managers rather than members," The name(s)and business address(es)of the initial manager(s) is(are): Name(s)t nnie M. Brown Business Address(es) 11829 W.C.R,#39 Fort Lupton. Colorpdo 80621 or b. If management of the limited liability company 11,021 vested in managers rather than members, The name(s) and business address(es)of the initial member(s) is(are): Name(s) Business Address(es) 5. The address to which the Secretary of State may send a copy of this document upon completion of filing (or to which the Secretary of State may return this document if filing is refused) is: P.O.Box 603 Fort Lupton. Colorado 80621 Organizer fin yt , `f(\ - t Ci ....s..) Signer's Name-printed Connie M. Brown (individual's signature) OPTIONAL. The electronic mail and/or Internet address for this entity is/are: e-mail wrbrownl947 t@hotmail.com Web sits The Colorado Secretary of State may contact the following authorized person regarding this document: name Connie M. Brown address 31829 W.C.R,it39 Fort Lupton. Colorado 80621 voice 303-536-0351 fax 303-536-0352 e-mail wrbrown1947@hotmailcom PUG-04-2002 09 :34 PM MCGUIRE 3035360310 P. 04 SCHEDULE C Profit or Loss From Business a"a N0.ee•6007• (Form 1040) ma s Fropnsssatita) 2000 .• .r toPrueg eshlpe,)olnt rename eta,must file Fen 1040 or Form 10t6e. offia p. Attach to Form 1040 or porn 1041. ► Bee Nahuatlan'for Schedule C(Fenn 1060). _ aµiaenrsmrw 09 ,lams of merles etaw vainly lumber least) Connie M Brown 515-50-1647 A Prince(business or proheslon,hecludbq product a twee(w I sWotons) S aatsreod.from Meantime Christmas Trees ► 113000 C Business name If no epee business news lava blank. D Empsys's numbs(am if any Elfin Forest E Busktese odds*(Irol dfp sores a roam rat.) ► City,town at peat S sae and LP code F Accoun5n9 nrlhotl: (1) [Xi Cash (2) ❑ Aortal (3) ❑ other(spsoly) ► o Did you%and y patipwe"a the spree of this business dote 20007 If"No,'see Matrudlona for limit on lessee [I]Yee []110 N if you steed a seguksd this buses"during 2000,deck hero ► ❑ spy' Income 1 cross receipts a sees,Caution:It Mir learns was repafed to you an Faro Y.2 and Ms'Salutay awe°bar on that Salm was checked,as haustbam and clsdr hero ► ❑err i 0 2 Rewrap Ind se amr _ 2 0 S Subbed ins 2 from Ina 1 3 0 4 Cost d gootls sold(ham line 420n Me 2) 4 0 5 orasa prat Subtract line 4 from the 3 a 0 a Other Incase,including g Federal rd atats gasoline a fuel tea credit or refund(w Instructions) e 7 Oren Income.Add lire.5 end e ► 7 0 Patin Expense.Enter expenses for business use of your bane only on line 30. a A hert'sing a 19 Pension end prdlt-shring pans . . 12 Bed debts fromsee or _ 20 Rent a lee(see Instructions): sees(see Instructions) . . . , 9 ■Velnk ies,machinery,&equipment 30e 10 Cr and(Nett eases b Other business property 20ti _ (see instructions) 10 0 21 Regain and menen#xe 21 ,, 11 canmaslas end has 11 22 Supplies(net included In Pat Ill) . 22 0 13 Depletion 12 23 Tees and licensee 23 161 13 Depredation and section 179 34 Teel,meets,and entertainment epee deducllon(net included a Trval 244 In Peat III)(see Instructions) . . . 13 0 b Muse and en- 14 Empbyes benefit program tenakrnled . . . 0 (other than an line 19) 14 c Enter no dad uo- 10 Insurance(ether ten health) 10 1, 610 tole art 1a interest Al Included on line 24 b (sae I str.) 0 4 Mortgage(aid to br4e,eta.) 104 d Subtract line 24a from line 240 . . 244 0 b Other 110 21 Mlle 2e 110 17 Legal and professional 10 wipes(less employment credits) 2e e.nkr 17 27 Other sparse(from tine 48 on is Office opera /s 215 paga2) 27 6,111 3a Teal expense before s tines fa business uso d mama.Add eras 8 through 27 In coleus p. 3a 8,213 20 Thee pelt(less).Subtract line 2a from line 7 a -6,213 30 essryes(a buskness use avow tams.Mach sans 4020 30 0 31 Net Palk or per}gutted one 30 hum tie 29. • heft preft seer on Fenn 1040,tine 12, and We en Schedule SE,line 2(stabuemywrployses, see ksfnolkxtt).Eat and trust,Ss on Form 1041,le 3. 1 31 -8,213 • Kobe you meet goanto lire 32. t If you estate Sack the bat that depute your Seemliest in Its edMty(see kebuatgrm). ., • 0e.ch ided 324,ender the loss on Peon 1040,line 12,ridalso an eohedule 0E,One 2 33, J Ml investment Is moo. (WuY Srpblyes,re ktktidione).Este..and!Nab.eat an Farm 1041,Iw a • If you chided 32b,you must Wadi Farm 4114 , 32b L� kesreeafe s not I(IA Schedule 0(Fee 1040)1000 AUG-04-2002 09 :35 PM MCGUIRE 3035360310 P_ 05 BcheduMC(Fam1040)2000 Connie 14 Brown 515-50-1847 Page2 Piling-A Cost of Ooods Sold(see bebud)one) 33 1iWiode(s)uud to Sue closing Imam: • O Cat b O Laver d oat a mast e O Omer(each splarWlon) 34 Was tiro any change In darkling quraalse,coda,or wludlas batman opening and dosing kntary?If "Yea'sldchspierrmm ❑ Yee ❑ No U Inwrday at beginning d yaw.If different from bat yes's closing Inventory,attach aylonlbn 35 0 $4 Nadaas less met d items withdrawn for personal use - as 0 $7 Cat d lobar.Do not Include any smord s gild to yourself 37 4 0 3e h.lanais rd soils 3e 0 3e Other rite 32 0 40 Add tines 3611eough 3e 40 0 11 Inuarday d and d yea 41 0 42 Cut of geode sold.Subtract line 41 from line 40.Ear the result here and on page 1,line 4 42 0 a Information on Your Vehicle. Corps this pan only If you We diming car ortruck(opener on IMe 10 and we not requbed to file Form 4682 for this business-See the IrstNWons fa line 13 to Ikid ciii k 'must file. 43 Whin did you plena your*hide in sen a for business purposes?(month,day,yea) In 44 Of the Mel number d muse you droie your whin during 2000,enter the number d miles you used your Skater a Business b Camutbg o Other 4e Do you Or)air spare)lava at*hide awllable for personl wet Lyn ❑ No 44 Wm your vehicle eatable for use during off-duty haw? ❑Yes ❑ Ne 47e Do)ou have Widened to support yes r deduction? ❑Yes O No b If h'as,"Is the Science mitten? O Vol O No tit Other Expenses. List below business SWIMS nd Ineludw on tin 5.20 a ter 30. Seedlings 2,877 Tools (Hand & Power) 1,020 Fertilizer 1,439 Tractor Fuel 781 a Yowl ether asperses.Ever hers ad n pegs 1,Ibs 27 4e 6, 117 KIA Schedule C(Fin 1040)2000 Hello