HomeMy WebLinkAbout630179.tiffAUTHORIZING CHAIRMAN TO SIGN PURCHASE
AGREEMENT WITH GREELEY LODGE NUMBER 809
OF THE BENEVOLENT AND PROTECTIVE ORDER OF ELKS:
WHEREAS, the Board of County Commissioners, in behalf of Weld County,
Colorado, and Greeley Lodge Number 809 of the Benevolent and Protective Order of
Elks of the United States of America, have determined the terms and conditions
upon which the Board of County Commissioners shall purchase the certain premises
known as The Greeley Elks Club, for Weld County, copy of said agreement attached
hereto and made a part of this resolution, and
WHEREAS, the Board of County Commissioners, Weld County, Colorado,
believes it to be in the best interests of Weld County to purchase said building.
NOW, THEREFORE, BE IT RESOLVED, by the Board of County Commissioners,
Weld County, Colorado, that the Chairman of the Board of County Commissioners be,
and he is hereby authorized to sign said agreement, copy attached hereto and made
a part of this resolution.
The above and foregoing resolution was, on motion duly made and seconded,
adopted by the following vote:
AYES: ,9//:,/Z -(
DATED: April 10, 1963
i
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THE BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
MB 32:Page .,'?✓7
630179
Meeting of the Board of County Commissioners in regard to
Elks Lodge Building Purchase, March 20, 1963
It was moved by Commissioner Shultz to offer the Elks Lodge $250,000.00,
interest free, divided into three equal payments. First payment to
be due on June 1, 1964; second payment to be due on June 1, 1965 and
the third and final payment to be due on June 1, 1966. Possession
of basement and first floor by the County on June 1, 1964 - possession
of complete building by September 1, 1964.
The lodge will be permitted to remove all personal and chattel items,
including items described as business fixtures, and to remove all
items unique to an Elks Lodge.
The motion was seconded by Commissioner Ewing.
A vote was taken with two affirmative votes and one opposing the purchase.
Mr. Reed stated that while the building was close, and should belong
to the County, he felt that t this particular time, he would have to
vote against buying it.
Mr. Ewing and Mr. Shultz voted affirmative.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned, GREELEY LODGE NUMBER 809
OF THE BENEVOLENT AND PROTECTIVE ORDER OF ELKS OF THE UNITED STATES
OF AMERICA, for and in consideration of a loan this day made to the undersigned
by WELD COUNTY BANK, does hereby transfer, set over, and assign unto the
WELD COUNTY BANK, Greeley, Colorado, all monies now due and to become due
to the undersigned from THE COUNTY OF WELD, A MUNICIPAL CORPORATION, AT
WELD COUNTY, STATE OF COLORADO, by virtue of one certain Agreement
dated April 24, 1963, which Agreement is attached hereto and by reference
incorporated into and made a part of this instrument, in a total amount of
Two Hundred Fifty Thousand Dollars ($250,000). Further, The County of Weld,
a municipal corporation, at Weld County, State of Colorado, is hereby authorized
and directed to make all payments now due and which shall hereafter become
due to the undersigned by the proceeds as stated above by joint check payable
to the undersigned and WELD COUNTY BANK until further notice, all checks to
be mailed to WELD COUNTY BANK, P. O. Box 1057, Greeley, Colorado.
(All payments to be made in accordance with the terms of said Agreement dated
(April 24, 1963.
Dated at Greeley, Colorado, this 5th day of January, 1964.
GREELEY LODGE NUMBER 809 OF THE
BENEVOLENT AND PROTECTIVE ORDER OF
ELKS OF THE UNITED STATES OF AMERICA
By: : G/,`
7
C) �!
ATTEST:
(•
(Secretary
/
V':
ACCEPTANCE
(Board of Trustees) -
The undersigned hereby accepts the above and foregoing Assignment
of that certain Agreement dated April 24, 1963, in which Weld County, a
Municipal Corporation, at Weld County, State of Colorado, is obligated unto
Greeley Lodge Number 809 of the Benevolent and Protective Order of Elks of
the United States of America, in the amount of Tv,o Hundred Fifty Thousand Dollars
($250, 000), and the undersigned hereby agrees that all sums now due and
hereafter to become due and payable under said Agreement shall be paid by
joint check to WELD COUNTY BANK and GREELEY LODGE NUMBER 809 OF THE
BENEVOLENT AND PROTECTIVE ORDER OF ELKS OF THE UNITED STATES OF AMERICA,
and shall be mailed to Weld County Bank, P. O. Box 1057, Greeley, Colorado.
Dated at Greeley, Colorado, February 5th , 1964.
WELD COUNTY, A MUNICIPAL CORPORATION,
ATTEST: AT WELD /COUNTY, COL DOf
.r::,.. By: fe(''C raarf:..-L''_.
Re) tio6
COUNTY CLERK & RECORDER
t KA..t.ri'i1:NT
THIS AGfel"I:NT, made in duplicate this,2yth day of April. A. L.
1963, between TiiL GREEL,i.Y LOLGL NUMhiR 8J9 OF THE BENi:VoLr'.NT AND
PROTECTIVE ORDER OF i.Li:L CF PILE UNITLi) STATES OF AMERICA, hereinafter
referred to as Vendor, and THb COUNTY OF v.,LLL, A MUNICIPAL CORPORATION,
AT WELL COUNTY, STATE OF COLL:RAD°, hereinafter referred to as Purchaser.
WITNESSLTH THAT:
WHEREAS, Vendor and Purchaser have orally determined the terms and
conditions upon which the Purchaser shall purchase, and the Vendor sell. the
certain premises of Vendor known as The Greeley Elks Cluo, upon terms and
conditions mutually agreeaole to said Vendor and Purchaser, and,
wdLkLA8, the parties desire to evidence their said oral Agreement in
writing,
NOW, THt:R, FORi., for and in consideration of the premises, the sums
of money to ae paid under the terms and conditions of this Agreement, and the
mutual promises, c:.onvenents and conditions herein contained,
IT Is h+UruALLY UNDLIS.TOOG ANL AGRELD, by and between the Vendor
and Purchaser hereto as follows:
1. The Vendor agrees to sell and convey unto the Purchaser, and the
Purchaser agrees to buy and purchase of end from the Vendor for the total
purchase price of 4250,000.00 upon the terms and conditions hereinafter set
forth, the following described premises and property situate in the County of
Wald, toe vi col red°, to -wit;
The West Ten Feet (10') of Lot Lleven (11), and all of Lots Twelve,
(12), Thirteen (13), Fourteen (14), Fifteen (15) and Sixteen (16),
in Stock Sixty-five (65), in the City of Greeley, Weld County.
Colorado, according to the recorded map or pleat thereof.
2. The Vendor shall retain, and be permitted to remove from said premises,
all of the Vendor's personal -''nd chattel items, including Items described as
business tixtures, end all items unique to an Elks Lodge.
3. The Purchaser agrees t: :, pay said purchase price of 5250,..100.00
to the Vendor, as follows:
a. EIGHTY-THREE THOUSAND THREE HUNLALL THIRTY-THREE
DOLLARS and THIRTY-THREE CENTS (683, 333.33) on June 1, 1964.
o. EIGHTY-THREE THOUSAND THREE HUNL:REI3 THIRTY-THREE
DOLLARS and THIRTY-THREE CENTS ($83, 333.33) on June 1, 1965.
c. EIGHTY-THREE THOUbJ NLL THRLL HUNLJRE.L THIRTY-TH t .
DOLLARS and THIRTY-FOUR CENTS ($83. 333.34) on June 1, 1966.
d. No interest to charged nor payaole upon the deferred payments,
provided the same are paid when due. In the event of the failure
of the Purchaser to pay any installment payment when due, said
unpaid installment then due shall draw interest at the rate of six
(6) per cent per annum until paid.
4. The Vendor shall on June 1, 1964, deliver to Purchaser the possession
and use of all land which is the suoject of this ;1..greement, togetner with the
oeseme nt and first flour of the improvements located an said descrloed land.
The possession and use of the second floor, which spec* consists primarily of
lodge room facilities, shall be delivered by Vendor to the Purchaser on September
1, 1364. During such period from June 1, 1 X04, to and including September 1,
1964, the Purchaser shall allow the Vendor, end the meemoers of the Lodge, to
have access to the second floor facilities by passage through the €asement and
first floor facilities at reasonable nouns.
S. the Vendor agrees to make, execute, acknowledge and deliver a
stood and sufficient warranty deed conveying said land and promises to the
Purchaser free and clear of all liens and encumbrances, said deed to be held
in escrow oy id /VI a1 K • f 6r.'��
�► ; to and until the Purchaser
shall pay said full purchase price to the Vendor, as heereinaoave set forth, and
thereupon the escrow agent shall deliver said deed to the Purchaser. Vendor
agrees to pay the necessary documentary stamps and real estate conveyance
certificate fees.
6. An aostract of title to said property, certified to date at Vendor's
expense, shall oe furnished to the Purchaser, on or :.,afore Alca 14? . 1963;
Page 3
Title to be r:erchent,,ele in the Vendor. It eny defect us discovered in said
title, Purchaser she tt give Vendor written Notice of said title defect, and Vendor
shall have a reesos•,4t;ie time in which to correct said defect.
7. Time is ,..f the essence, hereof, and in the event the Purchaser
tette, reteses na 16+;ts, to make said payments, descrioed hereineeove,
then end to that event, the Vendor shall ucxvt the right to declare tint, Agreement
forfeited ano determined. In case the Vent:vr declares this :' ereement forfeited
and deternin>.:+: , Vendor shall give the Purchaser thirty days Notice iu writing
of any default et tze:, Purchaser, as aforesaid, and unless seio Purcleasw shall
remedy any such default within said thirty as y period, then : fter tee termination
of said thirty day period, the Purchaser shell lose and be deeerreu irem claim-
ing any rlgnt, title or interest to said premises and the Purchaser shall immediately
surrender up and deliver said premises to the Vendor, or in tne alternative, the
Vendor may elect to enforce specific perf�or.nance by the Purchaser :)y suit at
law or otherwise as the Vendor determines.
8. This i•greement shall oe binding upon and inure t;; :he Jenefit of the
successors and assigns of the parties hereto.
IN ` v ITNLee ►'vIiEREOF, the parties hereto nave hereunto set their hands
and seals tne day and year first above written.
GRLELEY L(: DCi: NUrV 3tht 8J3 Cr THE
BENEVOLENT AND PRUTECTIVi: ORDER OF
.LK1- OF THE UNITED "V TLE OP AMERICA
BY:
ATTEST:
T i'ic/(6.^-1 i
1-1-ze-•% ;7 -
WELL COUNTY, A MUNICIPAL CORPORATION,
;T WELD COUNTY, ST7r•'TE JP COLORADO
34 ti ei// r /7-0
ATTEST:
//
beputy County Clerk
1 L 4 '
SAMUEL S. TELEP
ATTORNEY AND COUNSELOR AT LAW
FIRST NATIONAL BANK BUILDING
TELEPHONE EL 2-5132
GREELEY, COLORADO
May 17, 1963
Board of County Commissioners
Weld County Courthouse
Greeley, Colorado
Gentlemen:
At your request I have examined four abstracts of
title covering the following described property located
in Greeley, Weld County, Colorado, to -wit:
The West 10 feet of Lot 11, and all of
Lots 12, 13, 14, 15 and 16, in Block 65,
in the City of Greeley, according to the
recorded map or plat thereof.
Title to this property is abstracted by the Weld
County Abstract and Investment Company of Weld County,
Colorado, in four abstracts, and last certified to under
certificate number 129,655, dated May 3, 1963 at 7:45
o'clock A.M.
From such examination I find as follows:
Fee simple title to the above described real property
is vested in the Board of Trustees of and for Greeley,
Colorado, Lodge #809, of the Benevolent and Protective
Order of Elks of the United States of America, subject
to and except the following:
1. Exceptions and reservations as contained in
United States Patent recorded April 29, 1876 in Book 20,
Page 75, Weld County records.
Board of County Commissioners May 17, 1963
Weld County, Colorado Page 2
2. Easement for private driveway over the West
5 feet of Lot 13, and over the East 5 feet of Lot 14, as
created in deed from the First Unitarian Society of
Greeley, Colorado to Greeley Lodge #809, of the Benevolent
and Protective Order of Elks of the United States of
America, recorded December 15, 1909 in Book 314, Page 196,
Weld County records.
3. Subject to the intoxicating liquor restrictions
and limitations as contained in Union Colony deeds,
except that there now exists no right of forfeiture for
violation thereof.
4. The property is entitled to the benefits and
subject to the burdens by reason of its inclusion within
the boundaries of the Northern Colorado Water Conservancy
District.
5. Master road and highway plan of the City of
Greeley which gives notice to the owners of all property
within the City and within a radius of three miles of the
City of proposed primary and secondary highways.
6. Abstract does not certify as to payment of 1962
taxes; however, investigation shows same as having been
paid. 1963 taxes due and payable in 1964 are now a lien.
7. Rights of persons in possession, potential liens
by reason of recent improvements to the premises, if any,
and unrecorded easements or rights of way, if any, may be
ascertained by physical inspection of the property.
In my opinion, the title as set out above and subject
to the foregoing, is good and merchantable.
Very tru1j yours,
Samuel S. Telep
Attorney at Law
SST:nb
ROBERT E. HILL • Realtor
REAL ESTATE SALES
318 GREELEY BUILDING
GREELEY, COLORADO
DIAL EL 2-0604
.. 'r•c.:h ?.b, 7Y.;163
Er. i•:illar:i H. :Vine, ':haircan
uodrd of County Cc>lwni .sic:ners
eld County Court case
Greeley, Colorado
Dear Sir:
Pursuant to your request in your letter of arch 7, 1L;63,
I have personally inspected the ; ropertc owned and ::ccur.d.,J�d
by elks Lode r' h09, described le ;al Ly hs the est 10' Lot 11,
all of Lots 1;, 13, 14, 15 Grad 16 in lock 65, Greeley,
.eld County, Colorado.
In view of the tine element, tong iet e documentation has
weer, eliminated. l:o,•:ever, sh :u'.c1 more detailcd information
ue required, I shall oc glad to furnish schedules, c.hrts,
lcai)s and photos.
The appraisal follous hereafter.
:n.eS et tfu lly su'.l:n.' trd,
?obert :.. Sill.
=per?iser
MORTGAGES • PROPERTY MANAGEMENT • INVESTMENT PROPERTIES • SURETY BONDS
• i AP ..I 1. \.1H a•: 'J aY5 CLUB
Greeley, Colorado
This property consists of l.&nd mee.surirt� 135 feet facing north on
P;inth Street and 190 feet running north and s.•uth abuttins; th3 east side
of T ent'. i ,venue, GreeleyColorado. Total land is approximately .y 25,650
square feet. : stimated value of land is < 1, 000.0)C.
On this lints is the lode structure, rt4.scnry constructed, built above -a
semi —easement, with a totalof thre t f, oorc: in use, including the bdsemegt.
This building is considered to ue a one uroo s ^ structure, hal ar ueen built
to serve as lod('e quarters, for rreeti.ncs, 0,aes, dancin{; and other social
functicr_s. extremely hiTh ceilings were needed a,Ld larre oven areas required
for large cro; ds of people. r:dditions and ren,odelin. were 'ri ide aurin ; the
T9.�o
ye�..rs since first constructed. ain_ floor covers abpr3 -<it, c) y rrr' scluare
feet, exclusive of covered open tvo-story front ,^crch cf s ware
feet. Three floors of usable space would amount to approximately 24,100
square feet which wou? d include st'.irway s, heating and ecclino 7lant, storaae
areas. etc.=.stirnated vELlue of buil_dilw today is 122, 70.0u.
Total :.sti.pr ted 1al 'it — ..2C3,270.00
In order to arrive at wy estir:;at ° of vl.ue, I considered each of the
three custorary approaches, namely
Income pproach
This :ippro _ch I discarded as havinr very little basis for value. -ince
the lodge building is strictlti a one purpose structure, much work and con-
siderable expense would oe needec', to convert to income property - other than
for another lodge.
Cost 2aproach (r.epl aceL ent or !eoroduction)
Cost aprroach tends to set value by consider; ng the present depreciated
reproduction or rep1 ce,.ient cost of the i_mpry oments, Plus the value of the
land.
estimated ':'a1.ue r:f Land
uuilc'i,ig Cost, new
basement
sement
''"irst Floor
Second Floor
:Porch
7,752 Sq. Ft.
7,950 sq. ft.
'1,950 sq. ft.
900 so. ft.
Depreciation due to physical
and functional obsoiescense (I4)
Estimated :resent Yalue of building
:'resent Value by Cost .y!:prcach
4:10.00 77, 520.00
4x1.5.00 119, 250.00
?.2.00 95,400.00
. ]5.00 13, 500.00
9,305,670.00
183.400.00
e .,1.,600.00
122.270.00
2.03,270.00
Market or Cornoarative :approach
This method of esti!,,ating value is by comparing with other nroperties
which have sa].d and which have related locations, size, usage if ncssible,
etc.
.Uuildines and land considered and analyzed were as follot:s:
jai..es last five ;,rears:
yllen Store buildine and 100' x 125' land, Lecemuer 1958 35,000.00
Estimated Land I alue 100' front .24,000 - ,240 f.f.
f:inney building end 56' x 128' lend, ',ovember 1961
Estimated Land value 56' front .33,00u - ,;60u f.f.
,,stimated iuilding ':'alue 4,762 sq. ft. - ..67,000
x;14.00 sq. ft.
Sterling building - sold •.:eotc:!;7ter 1959
Land - 190' front on 9th Ave x 94' on 10th St.
Estimated land value $530 f.f. x 190' .:100,000.00
istimated building Value 55,000.00
J. C. Fenny & Company building January 1961
Land - 125' frcnt on 6th Street x 115' deep
Estimated Land Value ':1840 f.f. x 125' ;..,230,000.0:;
Estimated building Value (new) 370,000.00
In my estimation, the sale involving the Sterling building has more
comrara ble features than others, due to the a -e of the building, land size,
location, etc.
The land under the SterlingT building wi s valued at sale time at
ab?.>rsximately .530.60 per front foot facing mint' eve:lue. The sale and
purchase of this buildin?≥ was sheltered. sonewh,:-t, since it did not appear on
the open market for sE l.e. Had it teen advertised and r~ener. lly urcmoted fnr
a00,000.00
155,000.°;,'0
;600,000.00
-3 —
sale, I believe the land value might have approached ;850.00 per front foot.
Therefore, I have set this land value as the bench mark for other properties
in the area.
My
opinion of present, land values are:
Sterling Land
Kinney Bldg. Land
Allen bldg. Land
Elks building Land
The Elks land certainly
:850.00 front foot
660.00 front foot
660.00 front foot
600.00 front foot
should ue worth less
than the Sterling land
for obvious reasons - very little adjacent business traffic, with no future
increase in sight, hardly any foot traffic from the south area.
To condense the above remarks and opinions, I will say that it is very
difficult to estimate value of a building such as the Elks Club. There is
no probability of income from the building as it exists today. then figuring
the Cost of Replacement, one must realize that replacing to acquire similar
floor space and area, the height of the building would not need to be so
great. In other words, the same usable space could be accuired at terhaps
considerable savings; hence the large depreciation figure used (60%).
Using the above figures and analyzing to the best of my ability, I,
therefore, estimate the Market Value of the Elks property, as of this date,
to be
Land
Improvements
w $1,000.00
122 270.00
;203,270.00
TM HUNDRED Ti i'r.;E THOUSAND, MC: HUNDREM SEVLNT;r DOLLARS
0203,270.00)
CERTIFICATION: This is to certify that to the best of my knowledge and
belief the facts and figures used herein are true and correct, th I have
personally inspected the property described, and that I have no terest,
financial or otherwise, therein.
"Iobert Hill
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