HomeMy WebLinkAbout930712.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO
PETITION OF:
GREELEY NATIONAL BANK
P 0 BOX 1098
GREELEY, CO 80632
DESCRIPTION OF PROPERTY: PIN: R 2810986 PARCEL: 096105315022 - GR 4832 L8
TO 26 BLK44 TOGETHER WITH VAC N-S ALLEY ADJ TO LOTS 12 THRU 23 & E-W VAC ALLEY
ADJ TO LOTS 9 THRU 12 LOTS 17 & 18 & LOTS 23 THRU 26 2821 8TH ST%
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
organized 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 1993, 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 1993, claiming that the property described in
such petition was assessed too high, as more specifically stated in said
petition, and
WHEREAS, said petitioner not 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 as follows:
930712
4 soaa7
Page 2
RE: BOE - GREELEY NATIONAL BANK
ORIGINAL ADJUSTED
Land $ 216,500
$ 216,500
Improvements OR
Personal Property 5,074, 196 4,683,614
TOTAL ACTUAL VALUE $ 5,290, 696 $ 4, 900, 114
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:
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) ,
CRS)
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 523
Denver, CO 80203
Phone: 866-5880
OR
930712
Page 3
RE: BOE - GREELEY NATIONAL BANK
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) , CRS)
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, CRS)
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.
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.
930712
Page 4
RE: BOE - GREELEY NATIONAL BANK
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 29th day of July, A.D. , 1993.
BOARD OF COUNTY COMMISSIONERS
ATTEST: ; // WELD COUNTY, COLORADO
Weld County erk to t e oa d
Constance L. Harbert, Chairman
BY: �� L �sys ABSTAINED
Deputy Clef' to the Boar W. H. Webster, Pr -Tem
APPROVED AS TO FORM: • "7/ 6 xi�j
eorge✓4. Baxte
-'County Attorney - _ ----- Dale K. Hall
Barbara J. Kirkm yer
930712
BOE DECISION SHEET
PIN It: R 2810986 PARCEL /t: 096105315022
GREELEY NATIONAL BANK
P 0 BOX 1098
GREELEY, CO 80632
HEARING DATE: July 29, 1993 TIME: 10:00 A.M.
HEARING ATTENDED? (Yg> NAME:
AGENT NAME: TAX PROFILE SERVICES INC
APPRAISER NAME:
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL ADJUSTED
Land $ 216,500 $ COO
Improvements OR
Personal Property 5, 074, 196 L Q 3) 6i
Total Actual Value $ 5,290, 696 $ N i R'OD)) I q
COMMENTS:
MOTION BY _:DAL TO The , y —
ti-64-
SECONDED BY 13 p Baxter N)
Hall -- N)
Failed to meet burden of proof Harbert ��yynn,,N)
- Comparables inadequate Kirkmeyer - ldY N)
X Other: Webster -- (31444-0.4540 ,
c ,
RESOLUTION NO.
930712
V 7 • • J'UN_ 16 '93 09:12RM ABC CENTRAL ACCTG OFFICE OF COU 2)4$ESSOR
\\\I 1400 NORTH 17td AVE.
GREELEY, COLORADO 80631
NOTICE or OEMTAL PHONE (303) 353-3845, EXT. 3656
schige, GR 4832 La TO 26 BLK44 TOGETHER WITH VAC N-S
ALLEY ADJ TO LOTS 12 THRU 23 P E-W VAC ALLEY ADJ
C. ,ORADO TO LOTS 9 THRU 12 LOTS 27 L 18 6 LOTS 23 TI4RU 26
%821 8TH ST%
821 3 0 'E8 SST 5 AGREE_LEY
OWNER GREELEY NATIONAL HANK
GREELEY NATIONAL BANK PARCEL )96105315022
PIN R 2810985
P O 80X 1098 YEAR 1993
GREELEY CO 83632 LOG 02247
05/28/1993
The appraised value of property is based on the appropriate consideration of the approaches to value required by law.The Assessor has determined
that your property should be included in the following category(les):
RESIDENTIAL PROPERTY IS VALUED BY CONSIDERING THE MARKET APPROACH.
AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE
CAPACITY OF THE LAND, CAPITALIZED AT A RATE SET BY LAW.
ALL OTHER PROPERTY, INCLUDING VACANT LANG, IS VALUED BY CONSIDERING THE COST,
MARKET, AND INCOME APPROACHES.
If your concern Is the amount of your property tax, local taxing authorities (county, city, fire protection, and other special districts) hold
budget hearings in the fall. Please refer to your tax bill or ask your Assessor fore listing of these districts;and plan to attend these budget hearings.
T ssessor has carefully studied all available information, giving particular attention to the specifics Included on your protest and has dater-
mined the valuations) assigned to your property.The reasons for this determination of value are:
YOUR PROPERTY HAS BEEN UNIFORMLY VALUED FOLLOWING COLORADO LAN 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 SOLO DURING THE 1991/1992 TIME PERIOD.
THIS COMPARISON SHOWS YOUR ACTUAL PROPERTY' VAtUE TO BE CORRECT FOR
THAT PERIOD.
•
PROPERTY CLASSIFICATION PETITIONER'S I ASSESSOR'S VALUATION
ESTIMATE ACTUAL VALUE ACTUAL VALUE
OF VALUE PRIOR TO REVIEW AFTER REVIEW
•
LAND
216,500 2161500
IMPS 51074, 196 5, 0741196
TOTALS S S 5, 290, 6968 5, 290,696
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(11(a),C.R.S. Please see the beck of this form for detailed information on filing your appeal.
By: WARREN L. LASELL 06/07/93 q'7hU"y12
WELD COUNTY ASSESSOR DATE 7S
WELD COUNTY ASSESSOR
0ECEI
PETITION FOR REVIEW .Hi! 0 7 1993
GREELEY,COLO.
TO THE HONORABLE WELD COUNTY BOARD OF EQUALIZATION
Petitioner, BANC ONE COLORADO CORP c/o Tax Profile Service (TPS
INC. ) 1123 Auraria Parkway, Suite G-100, Denver CO. 80204, requests
review of the County Assessor's Notice (s) of Valuation for Subject
Property (described below) for tax year 1993 . Copies of the
Personal Property notices of valuation are attached hereto and
incorporated herein by reference.
DESCRIPTION OF SUBJECT-PROPERTY:
Schedule # 096105311022
Location : GREELEY NATIONAL BANK
The Subject Property is described, with Schedule numbers, a copy of
which is attached hereto and incorporated herein by reference.
ESTIMATED TIME FOR PETITIONER TO PRESENT CASE:
60 minutes, or 1 hour.
REPRESENTATION:
Petitioner requests a hearing at which petitioner will be
represented by the following registered agent, Tax Profile Service
INC. , or legal counsel: (303) 628-0405
CERTIFICATE OF SERVICE
I certify that I have served a copy if this Petition, with
attachments, on the County Board of Equalization by hand delivery,
this 2nd day of JULY ,1993
TAX PROFILE SERVICE, INC.
By:
Je e nroe
112 rari Parkway, Suite G-100
Denver Colorado, 80204
Telephone: (303) 628-0405
930"712
iCLERK TO THE BOARD
' P.O. BOX 758
C
GREELEY,COLORADO 80632
(303)3364000 EXT.4225
O
COLORADO
July 9, 1993
Parcel No. : 096105315022 PIN No. : R 2810986
GREELEY NATIONAL BANK
P 0 BOX 1098
GREELEY, CO 80632
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Thursday, July 29,
1993, at or about the hour of 10:00 A.M. , to hold a hearing on your
valuation for assessment. This hearing will be held at the Weld County
Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor
Hearing Room.
You have a right to attend this hearing and present evidence in support of
your petition. The Weld County Assessor will be present before the Board.
The Board will make their 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, 1993, and mailed to you on or before August
10, 1993.
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.
930912
GREELEY NATIONAL BANK - R 2810986
Page 2
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.
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,
Lu
OF EQQUALIZA ION
Donald D. Warden,
Clerk to the Board
BY: Kb A { /l�hs
Carol A. Harding, Deputy
cc: Warren Lasell, Assessor
LTA PROFILE SERVICES INC,
930112
P, ; cosy e, a So 8386
asos-asb -lSafioga I
agoryS86 . 8 / 0986
a goy &gb osos-386
Banc One eeley Downtown
Schedule 61-05-3-15-
022,018,0 ,
821 8th S t, Greeley
Several factors have contributed to ' I decline in lue
regarding the bank properties located in Weld ty1The first aand
most influential factor is the economic obso ence attributable
to the entire State of Colorado during the antic downswing of
the late 1980's. Economic Obsolescence is de d as:
External obsolescence, the diminished u ty of a structure
due to negative influences from outside the I
(sic) part of the owner, landlord or tenant tin incurable vlan Land .
on 5
due to external obsolescence must be allocate tween the
e land and
the improvements. External obsolescence can . fused by a variety of factors - e.g. , neighborhood decline; the1 ≥rty's location in a community, state, or region, or market cond_ ns. An estimate of
external obsolescence should be based on the 'h neighborhood or
district analysis.!
Our analysis of the banking industry 'oughout State of
Colorado reflects a tendency to overval bank facilities,
primarily caused by the incorrect utilization the cost approach
to value. Almost all county assessors place t prime reliance on
this approach. Without correcting this apf h in recognizing functional obsolescence (both curable and ink )le) , and external
obsolescence, bank properties experience an o aluation of 40% on
average.
The Weld County Assessor has recognized g the cost approach
to value would need considerable adjustmc: in the form of
depreciation that would render this approach 'enable.
The Assessors office as well z the petitioners
representatives have placed the income appr i to value as the
best indicator of true market value. The mar approach was used as a measure to support the value conclusion
Cost Approach:
Income Approac ;3 ,784,849
Market Approac
Value Conclusi 83 .784,849
i
'The Appraisal of Real Estate, America _ Institute of Real
I
Estate Appraisers, Ninth Edition, p.395
SURVEY FOR: WELD COUNTY ASSESSOR
PROPERTY OWNER: BANC ONE OF COLORADO CORP
ADDRESS: 821 8TH STREET
TYPE: BANK
PIN: 2810986
BANK OFFICE ANNEX
NET LEASABLE
RENT PER SQUARE FOOT 23 525
76, 024 18, 800
$12.00 $8.50 $6 .00
POTENTIAL GROSS INCOME
LESS VACANCY* $282,300 $646 , 204 $112, 800
12.79% 33.00% 40.00%
EFFECTIVE GROSS INCOME
$246,194 $432, 957 $67,680
LESS EXPENSES
35% 35% 35%
NET OPERATING INCOME
$147, 389 $206, 785 $43 , 992
OVERALL CAP RATE
10. 52% 10.52% 10. 52%
ESTIMATE OF VALUE
$1,401, 035 $1, 965, 640 $418,175
TOTAL ESTIMATE OF VALUE $3,784,849
* Based upon unusual condition associated with branch banking.
Employee reduction 12.79%
i
Q30P'J1L
it
Band of Investment Technique
Market information indicates that available funding for
properties of like utility to the subject are typically written
on a cash sale or merger basis, therefore market interest rates
for the base period must be used to determine the capitalization
rate. As of June 30 , 1992 the prime interest rate was 7%,
including 1.5% for a conservative increase to market rates ,
yields an 8 . 5 cost of funding. Typical loans written during this
period on typical propertes were at a 70% loan to value ratio.
This scenario yields a mortgage constant of . 1166 assuming a 25
year amortization period at 11%. The equity dividend rate has
been estimated at 10%. The Band of Investment Technique is
developed as presented below:
. 70 (Mortgage Ratio) x .0960 (Mortgage Constant) = .06720
. 30 (Equity Ratio) x . 06 (Equity Dividend Rate) = . 01800
Ad Valorem Taxes = . 02000
Indicated Capitalization Rate = . 1052
Rounded To: 10.52%
Due to the mill levy being 104 mills, the ad valorem must be
added onto the capitalization rate calculation as it is not being
deducted as an expense on the attached income approach.
I,I
a
52! 0"yi
STATEMENT OF AGENCY
Ci
Property Owner, Banc One Colorado Corporation, hereby appoints
Tax Profile Services, Inc. (hereinafter "TPS" ) , as Property
Owner' s representative in connection with the valuations for
assessment of Property Owner' s real and/or personal property which is contained in Addendum A attached hereto, for the years ,
1990 through 1994, for taxes payable the following year
(hereinafter " Subject Property" ) .
TPS shall have full authority to review all applicable records
relating to the valuation for assessment of the Subject Property;
to negotiate the valuation for assessment of the Subject Property
with the County Assessor, with any representative of the
Assessor' s office, or with the County, at an amount which TPS
deems appropriate in the circumstances; and to pursue any
statutory remedies which Property Owner may possess before the
County Assessor, County Board of Equalization, County Board of
Commissioners, Board of Assessment Appeals, District Court,
Appellate Courts, or in binding arbitration in the Property
Owner' s name and in Property Owner' s behalf .
This agreement shall remain in effect until revoked in writing by
Property Owner.
Banc_ One C/olPrado Corrpporation
Glee 3...S!c%.--,i-X'
State of (`6Loeo-do , 'Jewe4 County
of ) ss.
The foregoing agreement was acknowledged before me this1 day
of` /ga:ac1j , 19 93 ,
by G4RR/ /IAmsde//
(if a natural person or persons, insert name(s) ; if by a person acting in a representative or official capacity or as
. attorney-in-fact, insert the name and identify the capacity in
which it is executed; if by an officer of a corporation, insert
the name of such officer and identify the office. )
Witness my hand and official seal.
le r_,.. 4,
/7 •
Notary Public
My commission
expires: S7:7,7/9.3
a
EXgISIT
"P i t The.l.s?484,
s e
C - B - O _ E - HEARING
DATE: JULY 29, 1993
TIME: 10:00 A.M.
SUBJECT: GREELEY NATIONAL BANK
ADDRESS: 821 8TH STREET, GREELEY
PIN##: 2810986
X0"'1%
SUBJECT PROPERTY
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821 8TH STREET
PIN: 2810986
PARCEL: 0961-05-3-15-022
PROPERTY OWNER: GREELEY NATIONAL BANK
ADDRESS: 821 8TH ST
OCCUPANCY: BANK
QUALITY OF CONSTRUCTION: AVERAGE
CONDITION: GOOD
YEAR OF CONSTRUCTION: 1974
BANK OFFICE ARAD(
AREA LEASABLE 23525 76,024 18,800
RENT PER S.F. 12.00 8.50 6.00
POTENTIAL GROSS INCOME 282,300 646,204 112,800
LESS VACANCY 0 20% 40%
EFFECTIVE GROSS INCOME 282,300 516.963 67,680
LESS EXPENSES 35% 35% 35%
NET OPERATING INCOME 183,495 336,026 43,992
OVERALL CAP RATE .115 .115 .115
ESTIMATE OF VALUE 1,595,609 2,921,966 382,539
TOTAL ESTIMATE OF VALUE 4,900,114
4,900,114\128,537 = 38.12
51:301-712
•
26-Mar-93
BANK SALES PRICE/
SALE SALE BLDG LAND L/B PRICE/ SF CONST
COUNTY ADDRESS DATE PRICE YOC AREA AREA RATIO SF W/O LAND CLASS
1 BOULDER 1610 HOVER RD LONGMONT 12/17/91 $850,000 12,015 38265 3.18* 70.74 54.82 C
2 BOULDER 304 2 AV LYONS 1/8/90 $350,000 1983 2,570 31740 12.35 136.19 99.14 S
3 BOULDER 1930 N MAIN ST LONGMONT 1/15/89 $227,500 1976 2,305 25516 11.07 98.70 62.73 D
4 BOULDER 3033 IRIS AV BOULDER 6/28/88 $1,450,000 1976 11,248 91098 8.10 128.91 62.72 C
5 LARIMER 2525 N LINCOLN FT COLLNS 1/87 $214,900 1973 3,340 25700 7.69* 64.34 45.10 D
6 JEFFERSON 7575 W 44 AVE 8/25/89 $550,000 1973 6,625 23800 3.59* 83.02 68.65 C
7 ARAPAHOE 2305 S COLO BLVD 6/30/89 $640,000 1966 8,873 23400 2.64* 72.13 C
8 ARAPAHOE 5050 S FEDERAL BLVD 1/12/90 $1,124,900 1977 10,986 40442 3.68* 102.39 C
9 JEFFERSON 12340 W ALAMEDA PKWY 7/20/90 $1,321,000 1984 15,812 50835 3.21* 83.54 C
10 ARAPAHOE 5050 S BROADWAY 8/22/89 $870,900 1982 10,081 79275 7.86* 86.39 C
11 WELD 1041 MAIN WINDSOR 11/30/90 $492,000 1982 4,363 58370 13.38 112.77 86.01 D
12 WELD 1000 10 ST GREELEY 12/7/87 $1,575,000 1974 17,042 76000 4.46* 92.42 76.81 B
13 WELD 3690 W 10 ST GREELEY 10/28/85 $1,500,000 1981 11,094 142775 12.87 135.21 83.74 C
14 WELD 822 14 ST GREELEY 1/2/91 $625,000 1973 6,180 70785 11.45 101.13 68.77 D
15 WELD 1800 GREELEY MALL 12/12/88 $450,000 1973 6,530 44110 6.75* 68.91 62.16 C
16 WELD 213 1 ST EATON 7/31/91 $90,000 1926 2,080 2250 1.08* 43.27 41.10 C
17 ADAMS 112 HURON ST BRIGHTON 10/89 $909,300 1977 14,528 115062 7.92 62.59 42.79 C
18 ADAMS 8410 UMATILLA ST BRIGHTON 8/89 $746,800 1982 8,326 48858 5.87 89.69 73.53 C
AVERAGES 4.41 91.11 67.44
*INCLUDED IN RATIO
I°°3 1�
BANK LEASES
BANK NAME & BLDG RENTAL LEASE
ADDRESS AREA RATE START
1 CENTRAL BANK 11,094 14.71 NET 11/85
3690 W 10 ST
GREELEY
2 UNION COLONY BANK 23,884 10.05 NET 7/86
1701 23 AV
GREELEY
3 BANK OF WIN➢SOR 4,080 15.44 NET 5/85
1041 MAIN ST
WINDSOR
4 NORLARCO BANK 4,588 17.00 GROSS UNE
2545 RESEARCH BLVD
FT. COLLINS
5 NORWEST BANK 6,500 13.00 NET UNK
6500 JFK PARKWAY
FT. COLLINS
6 FT. COLLINS 1ST IN 3,190 11.76 NET UNK
2701 S COLLEGE AV
FT.COLLINS
7 VALLEY NAT'L BANK 7,744 13.11 NET UNK
1 VALLEY CENTER
LOVELAND
8 NOR COLO S & L 3,200 7.31 NET 1986
3700 W 10 ST (CONVERTED FROM S & L
GREELEY TO OFFICE)
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EXHIBIT
13
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-•,cam mr
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COMPARABLE SALE
���� sS
208 -7,s4
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PIN: 1448686 PARCEL # : 80720115029
OCCUPANCY: BANK
ADDRESS: 1041 W MAIN ST WINDSOR
PROJECT: 0
BOOK #: 1283
SALE DATE: 11/30/90 RECEPTION #: 2234556 SALE PRICE: $492,000 ADJ SALE PRICE:
GRANTOR: BANK OF WINDSOR INVESTMENT
GRANTEE: BANK OF WINDSOR
YEAR BLT: 1982 LAND/BLDG RATIO: 13 . 38
BLDG SIZE: 4, 363 IMPS PRICE/PSF: $86 . 01
CLASS: D SALE PRICE/PSF: $112 . 77
CONSTRUCTION-QUAL: GOOD CASH DOWN: $492 , 000
WALL HEIGHT: 14 LOAN: p
STORIES: 1 INTEREST RATE: 0. 0%
BSMT SIZE: 0 LOAN TERM (YRS) : 0 ttI
LAND SIZE: 58370 POINTS PAID: 0
LAND VALUE: 116740 BY WHOM: 0
REMARKS: PREVIOUS SALE 5/85 $400,000
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PIN: 0071688 PARCEL #: 96105333008
OCCUPANCY: BANK
ADDRESS: 1000 10 ST GREELEY
PROJECT: 0
BOOK # : 1179
SALE DATE: 12/07/87 RECEPTION #: 2123804
SALE PRICE: $1 , 575,000 ADJ SALE PRICE:
GRANTOR: UNITED BANK OF GREELEY
GRANTEE: CITY OF GREELEY
YEAR BLT: 1974 LAND/BLDG RATIO: 4 . 46
BLDG SIZE: 17,042 IMPS PRICE/PSF: $76.81
CLASS: C SALE PRICE/PSF: $92 .42
CONSTRUCTION-QUAL: GOOD CASH DOWN: $1 , 575 ,000
WALL HEIGHT: 20 LOAN: 0
STORIES: 2 INTEREST RATE: 0. 0% t
BSMT SIZE: 9503 LOAN TERM (YRS) : 0 d
LAND SIZE: 76000 POINTS PAID: 0
LAND VALUE: 266000 BY WHOM: 0
REMARKS: BLDG WAS BANK NOW CITY COMPLEX. SALE DID NOT
INCLUDE DRIVE-UP BANK FACILITIES
P.30'712
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COMPARABLE SALE
215
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PIN: 0085388 PARCEL # : 95911116023
OCCUPANCY: BANK
ADDRESS: 3690 W 10 ST GREELEY
PROJECT: 0
BOOK #: 1089
SALE DATE: 10/28/85 RECEPTION #: 2030143
SALE PRICE: $1 ,500,000 ADJ SALE PRICE:
GRANTOR: CENTRAL BANCORP
GRANTEE: HEIMICK RICHARD
YEAR BLT: 1981 LAND/BLDG RATIO: 12 .87
BLDG SIZE: 11 ,094 IMPS PRICE/PSF: $83 .74
CLASS: C SALE PRICE/PSF: $135. 21
CONSTRUCTION-QUAL: AVG CASH DOWN: $0
WALL HEIGHT: 28 LOAN: 0
STORIES: 2 INTEREST RATE: 0 .0%
BSMT SIZE: 5547 LOAN TERM (YRS) : 0
LAND SIZE: 142775 POINTS PAID: 0
LAND VALUE: 571000 BY WHOM: 0
REMARKS: 1 FLR BANK 5547 SF; 2ND FLR OFFICE 5547 SF
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BSMT BANK 5547 SF. CANOPY 1625 SF. BANK
LEASE 14 . 71 NET, OAR 10 .88%
R304,12
COMPARABLE SALE
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PIN: 0134291 PARCEL # : 961082210010
OCCUPANCY: BANK
ADDRESS: 822 14 ST
GREELEY
SALE DATE: 01/02/91
SALE PRICE: $625,000
GRANTOR: BANK OF GREELEY
GRANTEE: HOUSEL, JERRY ETAL
CONSTRUCTION-QUAL: 0
PR/SF(IMPS) : $68.77 BLDG SIZE: 6, 180
PR/SQ FT: $101.13 YEAR BLT: 1973
LAND SIZE: 70,785 CLASS: C
LAND VALUE: $200,000 WALL HEIGHT: 10
LAND/BLDG RATIO: 11 .45
REMARKS: INCLUDES 4 BAY DRIVE UP AND STORAGE BLDG
16X16= 256SF APPRAISER VALUE $1,000
NET RENT $12.82 PSF 15 YEAR LEASE
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COMPARABLE SALE
183
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PIN: 3761286 PARCEL # : 96119200023
OCCUPANCY: BANK
ADDRESS: GREELEY MALL 1800
GREELEY
SALE DATE: 12/12/88
SALE PRICE: $450,000
GRANTOR: COLORADO NATIONAL PROPERTY
GRANTEE: FIRST NATIONAL BANK BLDG SIZE: 6 ,530
CONSTRUCTION-QUAL: AVG YEAR BLT: 1973
PR/SF(IMPS) : $62.16 CLASS: C
PR/SQ FT: $68.91 WALL HEIGHT: 14 FT
LAND SIZE: 44,110
LAND VALUE: $44,110
LAND/BLDG RATIO: 6.75
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REMARKS:
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PIN: 0955786 PARCEL # : 70931319020
OCCUPANCY: OFFICE
ADDRESS: 213 1 ST
EATON
SALE DATE: 07/31/91 -
SALE PRICE: $90,000
GRANTOR: BOWNESS, WM TRUST
GRANTEE: COLO INDUSTRIAL BANK
CONSTRUCTION-QUAL: 0
PR/SF(IMPS) : $23 . 73 BLDG SIZE: 3 ,660
PR/SQ FT: $24.60 YEAR BLT: 1926
LAND SIZE: 2, 250 CLASS: C
LAND VALUE: $3 ,150 WALL HEIGHT: 14
LAND/BLDG RATIO: 0.61 BSMT SIZE: 1560
REMARKS: BLDG INTERIOR REMODELED 1981. AT SALE NET
LEASE $1, 000/MO($2.80 PSF) . 1 FLR 2080 SF +
BSMT OFFICE 1580 SF=3660 SF
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Bank of. Windsor appro•
ves Bancorp offer
By JEFFREY JONES
Tribune Staff Willer -
WINDSOR--A Nebraska banking company has pur- hasoffer was attractive
chased the Bank of Windsor for an undisclosed amount, to US and our shareholders have
bank officials said this morning.
A statement released by Bank of Windsor officials said t accepted it " i
bank stockholders voted Thursday night to accept a pur •-
chase offer from Pinnacle Bancorp Inc.,which is based in — vie Ylan aZ
•Central City,Neb. ^ Bank of Windsor board chairman
Pinnacle also owns the First Security Bank of Windsor.
Bank of Windsor board chairman Mel Ylarraz said it is
a cash offer and does not involve any stock trades. petted to take several months.
The bank was chartered in 1978 and has more than$22 Tom Prenger,president of the First Security Bank,said
million in assets. Pinnacle officials have not yet made decisions on the fate
"In the present banking climate, we knew a healthy of the Bank of Windsor or its 14 full-time employees.
bank... would receive offers. We've had four in the last "Right now...we have not made any decisions on what
couple of months,"Ylarraz said in the statement."...This facilities we'll keep,"Prenger said."Hopefully in a week
offer was attractive to us,and our shareholders have ac- (or) two weeks, we'll have something. I can't say what cepted it." they're going to do. There's a long road to go before we
Officials said regulatory approval for the sale is ex- even get to those decisions."
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