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Home My WebLink About880331.tiff RESOLUTION RE: APPROVE AGREEMENT BETWEEN WELD COUNTY, NCMC, INC. , NCMC BOARD OF TRUSTEES, COLORADO HEALTH FACILITIES AUTHORITY, AND UNITED BANK OF GREELEY AND AUTHORIZE CHAIRMAN TO SIGN WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, an Agreement between Weld County, NCMC, Inc. , NCMC Board of Trustees , Colorado Health Facilities Authority, and the United Bank of Greeley, was submitted to the Board concerning a Ground Lease, Trust Indenture, and Authority Lease, and WHEREAS, said Agreement concerns the release of land under the MRI building, which is being used as collateral for Revenue Bonds under authority of CHFA, with that land to be replaced by the parking lot to the south of Mead Hall , with the lands being as described in said Agreement, and WHEREAS, after study and review, the Board deems it advisable to approve the Agreement, with the terms and conditions being as stated in said Agreement, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Agreement between Weld County, NCMC, Inc. , NCMC Board of Trustees , Colorado Health Facilities Authority, and the United Bank of Greeley, be , and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is , authorized to sign said Agreement. 880331 Page 2 RE: NCMC AGREEMENT The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 4th day of May, A.D. , 1988 . i ,t ! BOARD OF COUNTY COMMISSIONERS a C//u,o�,�Y,u a/Lc1 p�lt,f ATTEST: 11 WELD UNTY, COLORADO Weld County Clerk and Recorder and Clerk to the Board ene R. Brantner, Chairman ` 9 { BY: C7/�r)i.ca C.W. irb , Pro eputy County Jerk APPROVED AS TO FORM: J.cqu ' n- • J son r ,Gor ac �-e- o . G Gre/ County Attox4 y ey Frank Yamaguchi 880331 & -4- / ' //J`cccr AGREEMENT 0�) THIS AGREEMENT is made and entered into this c 7 day of 1.4 e/ , 1988 by and between NORTH COLORADO MEDICAL CENTER, INC. , a Colorado non-profit corporation with principal offices at 1801 - 16th Street, Greeley, Colorado 80631 hereinafter referred to as "NCMC" ; WELD COUNTY, COLORADO acting through the BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO, a body politic and corporate with principal offices at Centennial Center, 915 - Tenth Street, Greeley, Colorado 80631 , hereinafter referred to as "COUNTY" ; THE BOARD OF TRUSTEES OF NORTH COLORADO MEDICAL CENTER, a body corporate, with principal offices at 1801 - 16th Street, Greeley, Colorado 80631 hereinafter referred to as "BOARD OF TRUSTEES"; THE COLORADO HEALTH FACILITIES AUTHORITY, a body politic and corporate, with principal offices at 158 Fillmore Street, Suite 210 , Denver, Colorado 80206 , hereinafter referred to as "AUTHORITY" ; and INTRAWEST BANK OF GREELEY, N.A. , now known as UNITED BANK OF GREELEY, N.A. with principal offices at 1025 Ninth Avenue , Greeley, Colorado 80631, hereinafter referred to as "UNITED BANK" ; WITNESSETH THAT: WHEREAS, COUNTY is the owner of the real property more fully described in Exhibit "A" attached hereto and acts through the BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO a body politic and corporate with principal offices at Centennial Center, 915 - Tenth Street, Greeley, Colorado; and, WHEREAS, BOARD OF TRUSTEES is a body corporate created and operating under the laws of the State of Colorado and has full power to operate, manage, and lease the county hospital properties; and, WHEREAS, AUTHORITY is a body politic and corporate created and operating pursuant to the provisions of the Colorado Health Facilities Authority Act, C.R. S. 73 , 25-25-101 , et seq. ; and, -1- 880331 WHEREAS, NCMC is a Colorado not for profit corporation the principal purpose of which is the operation of a general hospital; and , WHEREAS, UNITED BANK is a banking institution with principal offices at 1025 - 9th Avenue, Greeley, Colorado 80631; and, WHEREAS, CENTENNIAL MAGNETIC IMAGING, INC. , hereinafter referred to as "MAGNETIC IMAGING" is a Colorado for profit corporation with principal offices at 1751 - 15th Street, Greeley, Colorado 80631 whose principal activity is the ownership and operation of a Gyroscan S15 Magnetic Resonance Imaging System built by Philips Medical System, Inc. ; and, WHEREAS, NCMC owns , or will own, more than fifty percent (50% ) of the outstanding common voting stock of MAGNETIC IMAGING; and, WHEREAS, COUNTY entered into a "Ground Lease" with AUTHORITY dated as of December 1 , 1985 , expiring May 16 , 2009 , recorded in the records of the Clerk and Recorder of the County of Weld on December 30 , 1985 in Book 1097 at folio 0530 as Reception No. 02037462 ; which Lease was recorded without a legal description, and which Lease shall be hereinafter referred to as "GROUND LEASE" ; and, WHEREAS, AUTHORITY entered into a Lease Agreement with the BOARD OF TRUSTEES dated as of December 1 , 1985 and recorded December 30 , 1985 in the records of the Clerk and Recorder of the County of Weld, State of Colorado in Book 1097 at folio 0538 as Reception No. 02037463 , which Lease expires on or about May 16 , 2009 , which Lease leases a parcel of real estate more fully described in Exhibit "B" , attached hereto and incorporated herein; and which Lease will be hereinafter referred to as the "AUTHORITY LEASE" ; and, -2- 880331 WHEREAS, AUTHORITY entered into a Trust Indenture with the UNITED BANK, as Trustee, dated as of December 1 , 1985 which Agreement, among other things , assigned the GROUND LEASE and AUTHORITY LEASE to UNITED BANK for the purposes set forth in the Agreement which Agreement was recorded December 30, 1985 in the Records of the Clerk and Recorder of the County of Weld, State of Colorado, in Book 1097 at folio 0595 as Reception No. 02037464 ; without a legal description , and which Agreement will be hereinafter referred to as "TRUST INDENTURE" ; and, WHEREAS, the GROUND LEASE, TRUST INDENTURE, and AUTHORITY LEASE were made and entered into for the purpose of facilitating the issuance of, and to secure the obligations evidenced by, certain Revenue Bonds issued by AUTHORITY in the amount of $15 ,900 ,000 . 00 and known as the HOSPITAL REFUNDING REVENUE BONDS, SERIES 1985 (North Colorado Medical Center Project) ; and, WHEREAS, BOARD OF TRUSTEES entered into a "OPERATING SUBLEASE" dated and effective March 24, 1986 with NCMC for the purpose of operating a general hospital which Lease was supplanted by an AMENDED AND RESTATED OPERATING SUBLEASE which is to continue in full force and effect to and until January 2, 2010 ; and, • WHEREAS, NCMC desires to construct a new building, or addition , on a parcel described in Exhibit "C" , utilizing its own funds for the purpose of housing a Magnetic Reasonance Imaging System and further desires to lease the newly constructed building, or addition, to MAGNETIC IMAGING which will own and operate the equipment; and, WHEREAS, MAGNETIC IMAGING desires to lease a facility to be constructed by NCMC on the parcel described in Exhibit "C" for the purpose of installing therein its Magnetic Resonance Imaging equipment and for the purpose of operating its equipment; and, -3- 880331 WHEREAS, the legal description contained in the AUTHORITY LEASE inadvertently omitted a parcel of ground described in Exhibit "D" which should have been included not only in the AUTHORITY LEASE but also the GROUND LEASE and TRUST INDENTURE; and, WHEREAS, NCMC and MAGNETIC IMAGING desire that the parcel of ground described in Exhibit "C" be released from the AUTHORITY LEASE and not included in the GROUND LEASE and TRUST INDENTURE; and, WHEREAS, AUTHORITY, UNITED BANK, BOARD OF TRUSTEES , and WELD COUNTY have consented and agreed that the parcel of ground described in Exhibit "C" not be subject to the GROUND LEASE, AUTHORITY LEASE, and TRUST INDENTURE and not be pledged to, or otherwise encumbered by, the obligations evidenced by the HOSPITAL REFUNDING REVENUE BONDS, SERIES 1985 (North Colorado Medical Center Project) provided that property of equal value be substituted therefore; and, WHEREAS, AUTHORITY, UNITED BANK, BOARD OF TRUSTEES , and WELD COUNTY agree to substitute for the parcel of ground described in Exhibit "C" the parcel of ground described in Exhibit "E" and have determined, by appraisal , that the fair market value of the property described in Exhibit "E" equals or exceeds the fair market value of the property described in Exhibit "C"; NOW THEREFORE, for and in consideration of the foregoing and other good and valuable consideration the receipt of wnich is hereby acknowledged the parties do hereby agree as follows : 1. Incorporation of Recital . The foregoing recitals are hereby incorporated into the Agreement of the parties . 2. Release of Property. AUTHORITY, UNITED BANK, BOARD OF TRUSTEES , and WELD COUNTY agree that the property described in -4- 880331 Exhibit "C" shall be released from the AUTHORITY LEASE and shall not be subject to the GROUND LEASE and TRUST INDENTURE and shall not be pledged to, or otherwise encumbered by, the obligations of AUTHORITY evidenced by the HOSPITAL REFUNDING BONDS, SERIES 1985 (North Colorado Medical Center Project) . 3 . Inclusion of Property. AUTHORITY, UNITED BANK, BOARD OF TRUSTEES, and WELD COUNTY agree that the property described in Exhibits "D" and "E" shall be included in, be subject to, and be encumbered by, the GROUND LEASE, AUTHORITY LEASE, TRUST INDENTURE, and shall be pledged to, and encumbered by, the obligations evidenced by the HOSPITAL REFUNDING REVENUE BONDS, SERIES 1985 (North Colorado Medical Center Project) . 4 . Legal Description. The parties agree that following the inclusion , exclusions , and releases hereinbefore set forth the legal description applicable to and hereby incorporated in the GROUND LEASE, AUTHORITY LEASE, and TRUST INDENTURE shall be that as set forth on Exhibit "F" . NORTH COLORADO MEDICAL ENTER, INC. a-Color donon-prof ' ATTES . By Lc114L-o--ce A 4/ Richard H. Stenner, President ry Secre of Subscri n sw r t efore me this 697 day of , 1988 by m , as President and • pe1-y1__ , as/Secretar ,6 NORTH COLORADO MEDICAL CEN , INC. , a Colorado non4profit co poration. Witness my hand and official seal . My commission expires:;k9 o FY, P &led No ary Public' -5- 880331 BOARD OF COUNTY COMMISSIONERS Itin Q WELD COUNTY, COLORADO ATTEST: • W :�nT�'ut Weld County lerk and , Recorder and Clerk to the By: i Board Gene R. Brantner, Chairman By: ` cr- t-ilLc_z -u 7* ,,,t/ Deputy County Clerk Subscribed and r sw n -y day of l�'� ,�988 by Germs K K . < o before me this t erro -ner, as Chairman axial '( zt z j u 'COMMS RS;I WELD CO , Witness my hand and official seal My commission expires: $1-y-/g, Nota y Public BOARD OF TRUSTEES NORTH COLORADO MEDICAL CENTER ATTES <-7-- ' a By: i�� w��J k--\-n-i_ t)-4: Secre ry P esident Subscribed sworn o efore me this c27 day of _, 1988 by �,,gpnnq o` ti , as President and , a Secretary a OARD OF TRUSTEES OF NORTH COLORADO MEDICAL CENTERI Witness my hand and official seal . My commission expires: 7r9/c� PP Di.,74 Notary Pu -6- 880331 THE COLORADO HEALTH FACILITIES AUTHORITY ATTEST: By Chairman or Vice Chairman Executive Director Subscribed and sworn to before me this day of _, 1988 by , as and , as Executive Director of THE COLORADO HEALTH FACILITIES AUTHORITY. Witness my hand and official seal . My commission expires: Notary Public INTRAWEST BANK OF GREELEY, N.A. , n/k/a UNITED BANK OF GREELEY, N.A. ATTEST: By Vice President Cashier Subscribed and sworn to before me this day of _, 1988 , by , as Vice President and , as Cashier of INTRAWEST BANK OF GREELEY, N.A. , n/k/a UNITED BANK OF GREELEY, N.A. Witness my hand and official seal . My commission expires: Notary Public -7- 880331 C-E-R-T-I-F-I-C-A-T-E This Certificate is issued by the BOARD OF TRUSTEES OF NORTH COLORADO MEDICAL CENTER, hereinafter referred to as "HOSPITAL" pursuant to Section 6 .14 of The Lease Agreement between the COLORADO HEALTH FACILITIES AUTHORITY as Lessor, hereinafter referred to as "AUTHORITY" and HOSPITAL dated as of December 1 , 1985 and recorded in Book 1097 at folio 0538 as Reception No. 02037463 on December 30 , 1985 in the records of the Clerk and Recorder of the County of Weld, and State of Colorado. HOSPITAL hereby certifies to the AUTHORITY and the Trustee that: 1. It has requested AUTHORITY to release from the Lease the property described in Exhibit C attached hereto. 2 . That HOSPITAL desires to substitute for the property to be released as described in Exhibit C the property described in Exhibit E. 3 . That the fair market value of the property to be substituted as described in Exhibit E equals or exceeds the fair market value of the property to be released as described in Exhibit C as determined by the appraisal of W. West Foster, MAI a copy of which has been , or will be, provided to AUTHORITY and the Trustee. 4 . That the property to be released described in Exhibit C has been leased by HOSPITAL to NORTH COLORADO MEDICAL CENTER, INC. , a Colorado not for profit corporation who intends to construct a building on said property and lease the same to CENTENNIAL MAGNETIC RESONANCE IMAGING, INC. , a Colorado corporation for the ownership and operation of a Magnetic Resonance Imaging System. -1- 880331 5. That neither the leasing of the property to be released as described in Exhibit C, as above described, or the substitution of the property described in Exhibit E will materially adversely affect the operation of the remaining Hospital Facilities or the ability of HOSPITAL to satisfy its obligations under the Lease and shall not materially reduce or adversely affect the Net Income Available for the Debt Service as contemplated and described in the Lease. 6 . That the property to be substituted as described in Exhibit E for the property to be released as described in Exhibit C is necessary and useful for the operations of the Hospital as it is a parking lot used in conjunction with Mead Hall . 7 . That the release of the property described in Exhibit C and the substitution of the property described in Exhibit E will not result in a default under the Lease or the Indenture. 8 . That the property to be released as described in Exhibit C and the property to be substituted as described in Exhibit E have been appraised by a Member of the Appraisal Institute (MAI ) satisfactory to AUTHORITY and the Trustee under the Indenture and a copy thereof has been provided to both AUTHORITY and the Trustee. 9 . That appropriate agreements supplementing and amending the Lease necessary to subject the property to be substituted as described in Exhibit E for the property to be released as described in Exhibit C have been prepared and submitted to the AUTHORITY and Trustee. BOARD OF TRUSTEES NORTH COLORADO MEDICAL CENTER ATT • By: By:(Ar ra,LtAtui Secre ary sanne Haefe i chairwoman -2- 880331 EXHIBIT "A" Block A, HOSPITAL ADDITION, an addition to the City of Greeley, Weld County, Colorado 880331 EXHIBIT "B" A part of the W} of Section 7 , Township 5 North, Range 65 West of the 6th Principal Meridian , City of Greeley, County of Weld, State of Colorado, also being a part of Block "A" , Hospital Addition , a recorded plat of Weld County, more particularly described as follows , to wit: Beginning at the SE Corner of said Block "A" ; thence northerly along the East line of said Block "A" , 622 .01 feet to the Southerly line of the Northerly 80 feet of said Block "A" as dedicated to the City of Greeley for the purpose of a city street by Deed of Dedication recorded August 7 , 1950 in Book 1276 at Page 475 ; thence on a deflection angle to the left of 89O56 ' 21" and along said Southerly line, 726 . 66 feet; thence on a deflection angle to the left of 90O00 ' 00 " , 166 .02 feet; thence on a deflection angle to the right of 90O00 ' 00" , 11 . 50 feet; thence on a deflection angle to the left of 90O00 ' 00 " , 60 . 00 feet; thence on a deflection angle to the right of 90O00 ' 00" , 60 .00 feet; thence on a deflection angle to the left 90O00 ' 00 " , 238 . 27 feet; thence on a deflection angle to the left of 90O09 ' 49" , 150 .67 feet; thence on a deflection angle to the right of 90O00 ' 00" 160 . 00 feet to a point on the South line of said Block "A" ; thence on a deflection angle to the left of 90O00 ' 00" , 647 . 70 feet to the Point of Beginning, containing 10 .513 acres , more or less . 880331 EXHIBIT "C" A parcel of land being part of Block ' A' , HOSPITAL ADDITION, an addition to the City of Greeley, Weld County, Colorado and being more particularly described as follows: BEGINNING at the Southeast Corner ( SE Cor ) of said Block ' A' : Thence Northerly along the East line of said Block ' A' , 622 .01 feet (Measured 622 .15 feet) to a point on the Southerly line of the Northerly Eighty feet (N 80 ' ) of said Block ' A' , as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7 , 1950 in Book 1276 at Page 476 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the LEFT of 89056 ' 21" along the Southerly line, 249 . 26 feet to the TRUE POINT OF BEGINNING; Thence on a deflection angle to the LEFT OF 89057 '26" , 79 . 61 feet to a point of curvature: Thence along an arc of a curve which is concave to the Northeast, 63 . 80 feet, and whose radius is 80 . 88 feet, whose delta is 45011 ' 49" and whose long cord is a deflection angle to the LEFT of 22035 ' 55" for a distance of 62 . 16 feet to a point of tangent; Thence on a deflection angle to the LEFT of 22035 ' 54" , 9 .39 feet; Thence on a deflection angle to the RIGHT of 90009 ' 33" , 56 .17 feet; Thence on a deflection angle to the RIGHT OF 44059 ' 42" , 65 .86 feet; Thence on a deflection angle to the RIGHT of 90002 ' 34" , 183 . 35 feet to a point on the Southerly line of the Northerly Eighty feet (N 80 ' ) of said Block 'A' , as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7, 1950 , in Book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the RIGHT of 89057 ' 26 ' , along said Southerly line, 75 . 00 feet to the TRUE POINT OF BEGINNING. Said described parcel of land contains 14 , 782.85 square feet. 880331 EXHIBIT "D" MEAD HALL A parcel of land being part of Block ' A' , HOSPITAL ADDITION, an addition to the City of Greeley, Weld County, Colorado and being more particularly described as follows: BEGINNING at the Southeast Corner (SE Cor ) of said Block ' A' ; Thence Northerly along the East line of said Block ' A' , 622 . 0i feet (Measured 622 . 15 feet) to a point on the Southerly line of the Northerly Eighty feet (N80 ' ) of said Block ' A' , as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7, 1950 in Book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the LEFT of 89O56 ' 21" along said Southerly line, 726 .66 feet to the TRUE POINT OF BEGINNING; : Thence on a deflection angle to the LEFT of 90O00 ' 00" , 135 . 84 feet; Thence on a deflection angle to the RIGHT of 90O04 ' 32" , 157 .35 feet; Thence on a deflection angle to the RIGHT of 89O19 '13" , 135 .64 feet to a point on the Southerly line of the Northerly Eighty feet (N80 ' ) of said Block 'A' as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7 , 1950 in Book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the RIGHT of 90O36 ' 15" , 158 . 78 feet calculated (Measured 158 . 83 feet) to the TRUE POINT OF BEGINNING. Said parcel of land contains 21 ,466 .07 square feet ( 0 .493 acres , more or less ) . 880331 EXHIBIT "E" PARKING AREA A parcel of land being part of Block 'A' , HOSPITAL ADDITION, an addition to the City of Greeley, Weld County, Colorado and being more particularly described as follows : BEGINNING at the Southeast Corner (SE Cor ) of said Block ' A' Thence Northerly along the East line of said Block 'A' , 622 .01 feet (Measured 622.15 feet) to a point on the Southerly line of the Northerly Eighty feet (N80 ' ) of said Block 'A' , as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7, 1950 in book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the LEFT of 89O56 ' 21" along said Southerly line, 726 .66 feet; Thence on a deflection angle to the LEFT of 90O00 ' 00 " , 135 .84 feet to the TRUE POINT OF BEGINNING: Thence continuing along aforesaid line, 30 .18 feet; Thence on a deflection angle to the RIGHT of 90O00 ' 00" , 11. 50 feet; Thence on a deflection angle to the LEFT of 90O00 ' 00 " , 60 . 00 feet; Thence on a deflection angle to the RIGHT of 90O00 ' 00" , 60 . 00 feet; Thence on a deflection angle to the RIGHT of 90O00 ' 00" , 37 . 24 feet; Thence on a deflection angle to the LEFT of 90O00 ' 00 " , 108 .93 feet; Thence on a deflection angle to the RIGHT of 89O20 ' 38" , 188 .79 feet to a point on the Southerly line of the Northerly Eighty feet (N80 ' ) of said Block 'A' , as dedicated to the City of Greeley for the purpose of a City Street , by Deed of Dedication recorded August 7 , 1950 in Book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the RIGHT of 90O39 ' 22" , along said Southerly line, 23 . 81 feet; Thence on a deflection angle to the RIGHT of 89O23 ' 45" , 135 . 64 ; Thence on a deflection angle to the LEFT of 89O19 ' 13" , 157 . 35 feet to the TRUE POINT OF BEGINNING. Said described parcel of land contains 14, 782. 85 square feet ( 0 . 339 acres , more or less ) . 880331 EXHIBIT "F" A parcel of land being a part of Block A, HOSPITAL ADDITION, an addition to the City of Greeley, Weld County, Colorado and being more particularly described as follows: Beginning at the Southeast Corner ( SE Cor) of said Block A; Thence Northerly along the East line of said Block A, 622 . 01 feet to a point on the Southerly line of the Northerly Eighty feet (N 80 ' ) of said Block A, as dedicated to the City of Greeley for the purposes of a city street, by Deed of Dedication recorded August 7, 1950 in book 1276 at page 475 of the Weld County Clerk and Recorder; Thence on a deflection angle to the left of 89°56 ' 21" along said Southerly line a distance of 249 .26 feet; Thence on a deflection angle to the left of 89°57 ' 26" , 79 . 61 feet to a point of curvature; Thence along the arc of a curve which is concave to the Northeast, 63 . 80 feet, and whose radius is 80 . 88 feet, whose delta is 45°11' 49" and whose long cord is a deflection angle to the left of 22°35 ' 55" for a distance of 62 .16 feet to a point of tangent; Thence on a deflection angle to the left of 22°35 ' 54" , 9 .39 feet; Thence on a deflection angle to the right of 90°09 ' 33" , 56 .17 feet; Thence on a deflection angle to the right of 44°59 ' 42" , 65 .86 feet; Thence on a deflection angle to the right of 90°02 ' 34" , 183 . 35 feet to a point on the Southerly line of the Northerly Eighty feet (N 80 ' ) of said Block A as dedicated to the City of Greeley for the purpose of a city street, by Deed of Dedication recorded August 7 , 1950 in Book 1276 at page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the left 90°02 ' 34" , 584 . 99 feet; Thence on a deflection angle to the left of 90°39 ' 22" , 188 .79 feet; Thence on a deflection angle to the left of 89°20 ' 38 " a distance of 108 . 93 feet; Thence on a deflection angle to the right of 90°00 ' °0 " , 275 .51 feet; Thence on a deflection angle to the left of 90°09 ' 49" , 150 .67 feet; Thence on a deflection angle to the right of 90°00 ' 00" , 160 . 00 feet; Thence on a deflection angle to the left of 90°00 ' 00" a distance of 647 . 70 feet to the POINT OF BEGINNING. 880331 JONES - WININGER Professional Surveyors, Inc. 217 13th Street Greeley, Colorado 80631 (303 ) 352-4700 March 10, 1988 TO: Colorado Health Facilities Authority and the United Bank of Greeley as Trustee RE: Surveyors Certificate #1 Exhibit "A" - This description is of property that is owned by Weld County, State of Colorado as received in Warranty Deed recorded in Book 1174 on Page 246 on March 16, 1946 in the records of the Weld County Clerk and Recorders . The above property was subdivided and platted as "HOSPITAL ADDITION" , an addition to the City of Greeley, Weld County, Colorado as recorded January 10, 1948 as Reception Number 1022357 of the records of the Weld County Clerk and Recorders . Block "A" being a part of that subdivision. #2 Exhibit "B" - This description is of a part of Block "A" , HOSPITAL ADDITION, as described in Book 1097 under Reception Number 02037463 recorded December 30, 1987 in the records of the Weld County Clerk and Recorders . This document being a Lease between Colorado Health Facilities Authority and Board of Trustees For North Colorado Medical Center . #3 Exhibit "C" - This description is contained within the LAND SURVEY PLAT as recorded in Book 1179 as Reception Number 02123884 on December 8, 1987 in the records of the Weld County Clerk and Recorders . #4 Exhibit "D" - This description is contained within the LAND SURVEY PLAT as recorded in Book 1182 as Reception Number 02127907 on January 13, 1988 in the records of the Weld County Clerk and Recorders . #5 Exhibit "E" - This description is contained within the LAND SURVEY PLAT as recorded in Book 1182 as Reception Number 02127907 on January 13, 1988 in the records of the Weld County Clerk and Recorders . #6 Exhibit "F" - This is a composite description being that parcel described in Exhibit "B" , INCLUDING the .parcels as described in Exhibits "D" and "E" but EXCLUDING that parcel as described in Exhibit "C" . ( 1 ) 880331 SURVEYOR'S CERTIFICATE I , Charles B . Jones, a Registered Professional Land Surveyor in the State of Colorado do hereby certify : *1 That the descriptions in Exhibits "A" and "B" are as recorded in the documents as indicated . These descriptions were not prepared by me or under my supervision, but are from previously recorded documents . #2 The descriptions in Exhibits "C" , "D" , and "E" were prepared under my personal supervision from an actual survey of the property as signified on the Land Survey Plats as indicated in the items above . #3 The description as indicated in Exhibit "F" was prepared under my personal supervision and checking . The descriptions as indicated in items #2 and #3 within this certificate were prepared under my personal supervision and checking and are true and correct to the best of my knowledge and belief. „a3 REG/,SJtr, / •.....• ,c �! • Q• y1i'lry . 1 Charles B. Jones • ft 22098 a! Colorado Regist red Prof&. s}'p a • ac ! Land Surveyor #22098 �1I E o� •` • olmt LAN�_7' (2) 880331 FOSTER TIONCOIMIPANY February 1, 1988 Mr. Arthur P. Roy Attorney at Law 1011 11th Avenue Greeley, Colorado 80631 Dear Art: At your request, I have examined the relative value of two tracts of land within the North Colorado Medical Center complex. They will be referred to as Parcels I and II. The purpose of this analysis is to determine whether the value of Parcel II is equal to or greater than the value of Parcel I, so that Parcel II can be substituted as collateral for the release of Parcel I. Parcel I is adjacent to, and north of, the North Colorado Oncology Center. It's legal description is attached to this letter. It has 75 feet of frontage on 15th Street, a maximum depth of 183.35 feet, and contains 14,782.85 square feet. Most of the site is being used as an asphalt paved parking lot and includes some landscaping. Parcel II is adjacent to, and wraps around, Mead Hall, joining on the south and west. It's legal description is also attached to this letter. It is L-shaped, has approximately 23.81 feet of frontage on 15th Street, a maximum depth of 188.79 feet, and also contains 14,782.85 square feet. It includes the asphalt paved drive and parking lot for Mead Hall, together with some landscaping. Both parcels are zoned similarly and are shown on the attached aerial photograph. If Parcel II were a stand-alone site, it would have less utility than is afforded Parcel I because of its minimal street frontage and irregular shape; but since it is contiguous to another secured parcel, i.e. , Mead Hall, and is in fact used in conjunction with it, both parcels are regarded as having similar utility. Location and access from 15th Street are similar for both parcels. Except for the shape mentioned previously, other physical characteristics of both parcels are similar. Therefore, it is my opinion that the value of both Parcels I and II are identical, especially regarding their contributory value as they relate to the North Colorado Medical Center complex. Respectfully submitted, �7 W. West Foster, MAI pap Attachments W. West Foster, M.A.I. pppp qqqq :Ipprar&r • (unscduut C7C7®aleJ1 ( nttumc(x)d Cummuns ()Ili(es • I'ill 25th Accnuc S nic 3(13 • Greek , Colorado H0631 (3113) iii-III' PARCEL I A parcel of land being part of Block 'A' , HOSPITAL ADDITION, an addition to the City of Greeley, Weld County, Colorado and being more particularly described as follows : BEGINNING at the Southeast Corner ( SE Cor ) of said Block ' A' : Thence Northerly along the East line of said Block ' A' , 622 . 01 feet (Measured 622 . 15 feet ) to a point on the Southerly line of the Northerly Eighty feet (N 80 ' ) of said Block 'A' , as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7 , 1950 in Book 1276 at Page 476 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the LEFT of 89°56 ' 21" along the Southerly line, 249 .26 feet to the TRUE POINT OF BEGINNING; Thence on a deflection angle to the LEFT OF 89°57 ' 26" , 79 . 61 feet to a point of curvature: Thence along an arc of a curve which is concave to the Northeast, 63 . 80 feet, and whose radius is 80 . 88 feet , whose delta is 45°11 ' 49 " and whose long cord is a deflection angle to the LEFT of 22°35 ' 55" for a distance of 62 .16 feet to a point of tangent; Thence on a deflection angle to the LEFT of 22°35 ' 54" , 9 .39 feet; Thence on a deflection angle to the RIGHT of 90°09 ' 33 " , 56 .17 feet; Thence on a deflection angle to the RIGHT OF 44°59 ' 42 " , 65 .86 feet; Thence on a deflection angle to the RIGHT of 90°02 ' 34 " , 183 . 35 feet to a point on the Southerly line of the Northerly Eighty feet (N 80 ' ) of said Block ' A' , as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7 , 1950 , in Book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the RIGHT of 89°57 ' 26 ' , along said Southerly line, 75 . 00 feet to the TRUE POINT OF BEGINNING. Said described parcel of land contains 14 , 782 . 85 square feet . 880331 PARCEL I 15th Street 180'13.0.W.): 11° Apparent envootnmenl at sidewalk /(i 7 \one drire.oY van. B9. Q. Ss. • 2.5 Verlirol Curb - South Line 15M SIreet 75.00 - 4/ -_1.�. -��- 29926 Chiseled 'X 2.7 Drainage N •l b1 Channel �0 Chiseled .X. \N found Chiseled 'X ID 01 .n N N W ✓ I O In O M m a0 491 0 GG n11 1 (Fp asps ^nf T Survey hosed from _ I' 2 hod ' 63 8O f T. East IIM of Block A O P{°,/ '55.0 e q12 -fan• O • Chiseled .%. T 95 IL) 22.3554"---- S Sc' tP a4 —ice .ilh repo.of plasnerebo'cop m `., slumped 1122098(Typ.) io S CJ a \` 01 9. 'J V to p0. \ d Orail ;i9+ \ u 65.86' N ,4 yy q2 1µl Cos Center Southeast Corner of block A < \ \ Fau w I96IIt 8 Cup, 880331 PARCEL II PARKING AREA A parcel of land being part of Block ' A' , HOSPITAL ADDITION, an addition to the City of Greeley, Weld County , Colorado and being more particularly described as follows : BEGINNING at the Southeast Corner ( SE Cor ) of said Block IA';- Thence Northerly along the East line of said Block ' A' , 622 . 01 feet (Measured 622 . 15 feet ) to a point on the Southerly line of the Northerly Eighty feet (N80 ' ) of said Block ' A' , as dedicated to the City of Greeley for the purpose of a City Street , by Deed of Dedication recorded August 7, 1950 in book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the LEFT of 89°56 ' 21" along said Southerly line, 726 . 66 feet; Thence on a deflection angle to the LEFT of 90°00 ' 00 " , 135 . 84 feet to the TRUE POINT OF BEGINNING: Thence continuing along aforesaid line, 30 .18 feet; Thence on a deflection angle to the RIGHT of 90°00 ' 00 " , 11 . 50 feet; Thence on a deflection angle to the LEFT of 90°00 ' 00 " , 60 . 00 feet; Thence on a deflection angle to the RIGHT of 90°00 ' 00 " , 60 . 00 feet; Thence on a deflection angle to the RIGHT of 90°00 ' 00 " , 37 . 24 feet; Thence on a deflection angle to the LEFT of 90O00 ' 00 " , 108 . 93 feet; Thence on a deflection angle to the RIGHT of 89°20 ' 38 " , 188 . 79 feet to a point on the Southerly line of the Northerly Eighty feet (N80 ' ) of said Block 'A' , as dedicated to the City of Greeley for the purpose of a City Street, by Deed of Dedication recorded August 7 , 1950 in Book 1276 at Page 475 of the records of the Weld County Clerk and Recorder; Thence on a deflection angle to the RIGHT of 90°39 ' 22 " , along said Southerly line, 23 . 81 feet; Thence on a deflection angle to the RIGHT of 89°23 ' 45" , 135 . 64 ; Thence on a deflection angle to the LEFT of 89°19 ' 13" , 157 . 35 feet to the TRUE POINT OF BEGINNING. Said described parcel of land contains 14 , 782 . 85 square feet ( 0 . 339 acres , more or less ) . 880331 • PARCEL II ex,p cs• 19e o`a�O C/ti O/ 15th Street od/'F`` 4,c °,, • oa �P� �P� (60' F.O.W1 CJ es. '61' \y c'P/a J6`. ta' r.iwr Corby 34 ^� r.w paws .1. ,'Q. roes Dinka..O. Site//// 00 90 Fetes Clawed 'a' /`// /`} "23.$,1 Measured: 158.83' Calculated: 158.78' j `� • V Siena,*J ) �� 1` T26.66 / 182.59' Yr CYulw 'Y' 19*'Q/ca OOH 13, 9Je • es n lV\ N N It Z. O P W O o\ Et tri'0 p N 1 n_ Sonar s... heft. 3 tn ttg G.I One of • a ti ae ' N O SO SO N O or • = r m a a N N .9 to 410. C 157.35' e a� e $plftbs Cons if in `/ez4 lWl 9d04;2 r�j T rew Aft s l /J. �n0 TOG r.w. cbe•to0.X. IL` 7LF uro.oticn A 9/e P°rX q/e CaO1;0/ O/ 4:). o. . -r 4'• 'L'T �O' 00, •yOo 'It, 0� `)e, $, 90'00'00.(RI 'e. SO 0'of .. .re.. .11. 'lei P �' G raa. Naafi Cep aeftae. �/ 11, •emfs ar.aa. 60.00' a _ Ali N 1 880331 m''', 'i . .1.. !S.it:: k\ , , r : '. -,. ‘ • ,V." : k • I i . tt ** \ - t i + 1 I. !" , r ...\, ' \ 1 �7 �i �1t \ 4 I , � , big l lie_ , Al - 4 ,, Jr; \ ' •eff:4',I2,fi; i:,;.1, .:.1/4.,:; jig -,„vio,; ,,,' ' W Fs 4 t. i, N, I • 4 11/4 - . 4/1:1:. . 11 11. \ t Li' k . ii, i .A „ , es \ .,.. : v,...,.4. („;:i; .j. ,,, ,,,,, . ., i 1 4 , , , A iv: . 74;4/ v 1.51 , ,,... .. , //: , Iv,. iii.,....,.), 14 ., ,;,,, la I AN .7 lb' . ii it ri 4_ 44 .11:...7.,4? II I 41 $ it 'fr. it° 4 , A 'i,/ ,--4Ne ., /,',' i1/4 N_ tt ii. 'sib/ 7 iii ‘ ,,,./ ,.. %,,,;., . „ , 4., . .. „ ; , 7, ...c. . .11 t, i 0 0% t 4 . t \ . ‘' 1 :- .. ,/ P ti 4 \ i? I(r ' ). P. : t . \. . , / ak. ..,. i , ,, . , • , , ,,,,:if , , , , , 1 ,u:' ;4' ik ;t . - 1 ,t ' 1 4 ,,., ,t TAT 4' j• /% t I , ,, t �;t+Rl1i. �,, ;' , �� r `. -�f '�r � i , /Ps / 4 f tai. Y t. w' i, ., , ,i,i ..m. , ..k � 0 i R/ A. , .tAk*Ae!1A.7, f i . I , / VIC - i\i ' ii . {�r.1 ••3' •�' r • t T ,.al ,, 31 Y / c 1 , 214'k. ' sii:\ 0i ft °: /Pi\ k. /...' -4 , qt t -ti , %._ 'le i .,, tt . 'ea, ‘ i 12 • ,t ii, (/.1-. , . g ,4,. S irir, .$?, i- 1 IA I „, i. AI, v i t . / g:friti.;I 1 41*, ,,s,- .: . ,/,... 4, , , . ' I 4,'•• • II if , • • • Itt., r ,.., As itrC`r ' ydSI1�`� ' ' ,tv�rt t '•r,�'.} :iv if i j;:Jt I � , '.b V•r , ',ti\`/ ± y 5ye . Ib`! . p,k1,Jy I "4, . .�I 4Y 4 Vi k A . . . k. .1 i , . ; . ,.. i.,10.. kt . . 2.4' 4 l� ME1!1ORRflDU�1 Wilk Board of ro County Commissioners Date May 2 , 1988 COLORADO From Lee D. Morrison, Assistant County Attorney subject; _NCMC Agreement The Board has been presented with an agreement between the Colorado Health Facilities Authority, The Hospital Board of Trustees , NCMC, Inc. , United Bank, and yourselves to release the land under the new MRI building as collateral for the issuance of Revenue Bonds issued under authority of the CHFA. In return for the release the parking lot to the south of Mead Hall (FRC) will be substituted . I would recommend app val . e or son Assistant County Attorney 880331 Hello