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Home My WebLink About20193185.tiffAugust 6, 2019 Petitioner: POULSEN LLC 151 S OAK AVE EATON, CO 80615-8808 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO CONFIRMATION OF WITHDRAWAL REQUEST Docket #: 2019-3185 Appeal #: 2008224826 Dear Petitioner: Based upon information furnished to the Weld County Board of Equalization, we understand that you have withdrawn the petition challenging the valuation of the below account number(s). Please be informed that a withdrawn petition precludes any further challenge to the valuation of the below account number(s) for this assessment period. Therefore, the Board of Equalization took no action on your petition and the assessed value remains as set by the Assessor. Actual Value as Account # Decision Determined by Assessor R7517998 Withdrawn $368,122 Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor From: To: Cc: Subject: Date: Susan Gundry CTB-County Board of Equalization Courtney Anaya RE: Poulsen LLC Wednesday, July 24, 2019 12:05:08 PM Please see email below. The agent would like to withdraw R7517998 Poulsen LLC. If you need anything else, please let me know. Thank you Susan Gundry Property Appraiser Commercial Division Weld County Assessor's Office 1400 N. 17th Avenue Greeley, CO 80631 970-400-3676 sgundry@weldgov.com Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Kyler Knudsen <kylerwknudsen@gmail.com> Sent: Wednesday, July 24, 2019 10:53 AM To: Susan Gundry <sgundry@weldgov.com> Subject: Re: Poulsen LLC Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Susan, Sorry for the delay in coms. We will withdraw our request for appeal. Do I need to send you anything formal? %o1q-3igs ASO (03 Kyler Knudsen One Way Property Management 970-691-1662 kylerwknudsen@gmail.com Thank you for submitting an appeal to the Weld County Board of Equalization. We will review the information submitted and you will receive a date to appear before the board. Contact Information: Contact Name: Kyler Knudsen Contact Email: kylerwknudsen@gmail.com Contact Phone: 970-691-1662 Appeal Submitted: 09:47 PM July 15, 2019 Appeal submitted for: R7517998 - POULSEN LLC 160 S OAK AVE, EATON Legal: ETN PT NW4NW4 6 6 65 (PT PARCEL B OF O R & GEORGE GOODELL ANNEX) BEG NE COR PARCEL A OF O R & GEORGE GOODELL ANNEX BEING BEG OF CURVE TO LEFT RADIUS=613 CHORD=S55D30 E 33.28 S57D03 E 164.40 TO CURVE TO RIGHT RADIUS=1106 CHORD=S51D06 E 229.26 TO POB BEING BEG OF CURVE TO RIGHT RADIUS=1106 CHORD=S41D39 E 134.82 S16D08 E 86.51 S51D36 W 105.44 N38D23 W 246.85 N65D27 E 134.41 TO POB Reason: Value Too High - Property is a small, somewhat dated and fair to average condition self storage facility in a small rural community. Only one comparable was found in Dacono that resmbles the subject and is gridded and analyzed in the attached table for support. Estimate of Value: $201,507.00 Document(s) Submitted: Account: All Accounts - Poulson Hardware Agreement.pdf Account: R7517998 - Poulson Hardware Agreement Sig JH-2.pdf Account: R7517998 - R7517998 INITIAL PRO I'LST.pdf Account: R7517998 - 160 S Oak St COMPS.pdf You have selected the following Date Preferences: Thursday, August 1, 2019, from 1:30 p.m. to 3:30 p.m. Thursday, August 1, 2019, from 9:00 a.m. to 12:00 p.m. Monday, August 5, 2019, from 10:30 a.m. to 12:00 p.m. The Appeal process can take several weeks for us to complete. You will receive a written decision on your appeal within five (5) working days of your hearing. We thank you for your submittal. Weld County Board of Equalization 2019-3185 A.S o i O 3 Thank you for submitting an appeal to the Weld County Assessor's Office. We will review the information submitted and if we have questions we will contact you at one of the following: Contact Information: Contact Name: Kyler Knudsen Contact Email: kylenvicnudsen@gmail.com Contact Phone: 970-691-1662 Appeal Submitted: 11:20 AM May 31, 2019 Appeal submitted for: R7517998 - POULSEN LLC 160 S OAK AVE, EATON Legal: ETN PT NW4NW4 6 6 65 (PT PARCEL B OF O R GEORGE GOODELL ANNEX) BEG NE COR PARCEL A OF O R GEORGE GOODELLANNEX BEING BEG OF CURVE TO LEFT RADIUS=613 CHORD= 55D30 E 33.28 557D03 E 164.40 TO CURVE TO RIGHT RADIUS=1106 CHORD=551D06 E 229.26 TO POB BEING BEG OF CURVE TO RIGHT RADIUS=1106 CHORD=541 D39 E 134.82 16D08 E 86.51 551 D36 W 105.44 N38D23 W 246.85 N65D27 E 134.41 TO POB Reason: Value Too High - Property is a small, somewhat dated and fair to average condition self storage facility in a small rural community. Only one comparable was found in Dacono that resmbles the subject and is gridded and analyzed in the attached table for support. Estimate of Value: $201,507.00 Document(s) Submitted: Account: All Accounts - Poulson Hardware Agreement.pdf Account: All Accounts - INCOME - 760 E Garden Dr Self Storage.pdf The Appeal process can take several weeks for us to complete. We will mail a decision on your appeal by June 30th for real property and by July 10th for business personal property and/or oil and gas. We thank you for your submittal. Weld County Assessor's Office (970) 400-3650 COMPARABLE MIN I- TORAGE PROPERTY SALES ADJUSTMENT TABLE Guardian Self Storage - Eaton AS IS No. 1 Sale No. Subject Name: Guardian Self -Storage Bold Storage Address 160 5 Oak Ave 70O Glen Creighton Eaton, CO Dacono, CO SALES DATA Sale/Assessed Price: $ 368,122 $150,000 Sale Date: Subject May -17 Financing: Subject Cash to Seller Grantor: Poulson LLC 7O0 Glen Creighton Dr LLC Grantee: Bold Stroage, LLC Reception Nbr: 4303925 GENERAL DATA Size (Sq. Ft.): 8,700 4,080 Size (No. Units): 66 25 Average Unit Size (SF): 132 163 Sale Price Per Sq. Ft. $42.31 $36.76 Year Built: 1995 20O5 Construction Type: Metal Frame/Skin Masonry Land Size 3O123 16117 Land to Building Ratio: 3.46 I 3.95 I On -Site Office/ Live-in Manager: No/No No/No Security: Fence Fence INCOME DATA Operating Expense Ratio: Unknown Overall Capitalization Rate: Unknown E.G.I.M: Unknown ECONOMIC ADJUSTMENTS Property Rights Fee Simple Fee Simple O% Conditions of Sale Market Market 0.0% Market Conditions Subject May -17 5% Adjusted Price/Sq. Ft. $38.60 5.0% PHYSICAL ADJUSTMENTS Size: 8,700 4,080 -1O% Nbr Units/Average Unit Size (SF): 66/132 I 25/163.2 O% Location /Access: Good Exposure/Eaton Good Exposure/Dacono -15% Site Improvements: Asphalt & Gravel Asphalt & Gravel O% Land to Building Ratio: 3.46 3.95 O% Construction Quality: Metal Frame & Skin Masonry -5% Age / Condition: 1998 2005 -1O% Functional Utility: Typical Typical O% Security: Fence Fence O% Managers Office / Apartment: No/No No/No O% INDICATED $/SQ. FT. Subject 1 $23.16 i -40% Estimated Subject Value $201,507.35 $23.161/SF QQIS4SULTANT CONTRACT CONSULTANT: FREESTONE NE REAL ESTATE ADVISORS LLC CLIENT / ADDRESS: John Heppner 151 S Oak Ave Eaton, Co 80615 ` Windsor, CO 8�15 50* 160 S OakAve,Eaton PROPERTY ADDRESS: 760 E Garden Drive, COUNTY; LARIMER X WELD � 080722115001 o8o3o600008_ ("Property") PARCEL NUMBER(S):_080722215002, �� a� entered into by the above stated Consultant Thisct(hereinafter the "Contract") is made and tedis made Consultant contra collectively herein as the - 4�T�arttes. This Agreement and Client. Consultant and client are referred to eo � with reference to the following Background: BACKGROUND wish to validate and/or contest the value of A. Consultant offers services to the owners of property whodetermined by the Assessor of the County wherein said Property is situated. their Property as B. Client is the owner of the Property described above. C. Client has received (a) Notice(s) of valuation for the Property County in the State of Colorado. D. Client wishes to enter into this Contract to retain the services the value(s) of the Property as determined by the Assessor, should Consultant decide that a contest is appropriates AGREEMENT AND SCOPE OF WORK Background Statements. The above Background statements are incorporated fully into this Contract 1. by this reference, b Client, as evidenced by the signature below, this Contract shall bind 2. Acceptance. Upon acceptance � Client to pay the stated fee upon delivery of said services, by Consultant. Consultant shall review appropriate valuation techniques for 3. Work to be Performed the subject Property � i'� Notice of and compare that analysis to Actual Values assigned to the Property for the Consultant shall either 1) notify Client that it judges the assigned value to be Valuation. Based on that analysis, � . 'n current market conditions, or 2) file a protest of the assigned valuation with the appropriate reasonable within County Assessor on behalf of Client. Consultant shall pursue the protestlappeal through the appropriate levels ��. until a reasonable i valuation level has been achieved, as determined by Consultant in ts sole discrete from the Assessor of the above indicated of Consultant to ascertain the validity of and to pursue a contest of said value(s) yl "easonahle '�•aluatior� Cc�nsuitartt's level" shall he the analysis. judgment of the Consultant based on current �,,nt market conditions and 4. Power of Attorney. oI. Attorney wherein � � • In conjunction ��,rtll �nli�ezYt shall authorize this Contract, Client shall of protests/appeals ws and 2) to li t orize Consultant 1) grant to Consultant agree to a resolution to act on Client's t a Limited Power on behalf of Client tobehalf in filing the appropriate • Information those protests/appeals. eats, toto Be Provided �;)� pp 5. Consultant before Consultant Client to Consultant commences its �©r Client shall provide the following k for Client: information a. Timely Notice(s) of Vaiu, . b. Access to the Pro anon for the Property; perty as necessary and appropriate to enable value of the Property, �k�le'�or�sultar�t to make a determination of the 6. Abatement of Previous Taxes. In addition to the work described may, as it determines appropriate after co enbed in paragraph 3 above C abatement of previous conferring with Client and aspermitted, opt tial fnt taxes on the subject Property by law, pursue the pctcntial far p' paid by Client. 7. 7 ,IPir FEE: a. $0.00 retainer (non-refundable). Concurrent with the signing at, this Contract, Client shall pay to Consultant a non-refundable retainer in the amount of $0.00. Consultant shall retain this portion of the fee regardless of the result of its analysis as to the appropriateness of the assessed value of the Property. Client expressly understands that there is no guarantee that Consultant's analysis ' � is will result in a determination that a contest of the assessed value of the Property is warranted, nor that any such contest will be successful. b. Contingency. Other than the non-refundable retainer, this agreement is totally contingency -based. If Consultant's analysis reveals that the assigned valuation from the Assessor is reasonable, then no additional fees will be charged by Consultant or incurred by Client. In such event, Ciient will receive a written report establishing and evidencing Consultant's conclusion. Alternatively, if Consultant's analysis reveals that the assigned valuation of the property is not reasonable and Consultant successfully appeals said valuation resulting in a reduction of the valuation from the original Notice of valuation, then the fee (described below) shall be based on the tax savings that will accrue due to said reduction. The fee will be based on the tax savings as measured by the di berence between the taxes that would he owed based on the original valuation and the taxes that would be owed based on the revised valuation. The fee will be based on current assessment rations (29% commercial; 7.96% residential) and the latest effect at the time of billing. The fee will be offset by a credit for the retainer. The retainer mill levy in is considered to be a minimum fee for the services of Consultant. c. Term of Contract. THIS IS A 1 -TAX -YEAR CONTACT (2019). However, this contract shall nt approvalprocess by The County extend beyond 2019 into 2020. remain in force should the abatement roya Pp .� ' a to Consultant a fee equal to forty percent (40°' a) of the tax First Year. In the first year, Client shall pay201 . Consultant shall provide to d'(2019taxes, due in 2020 and 2020 taxes, due in savings for that year • along with an invoice indicating the amount due to written evidence of the revised valuation, Clientby which such amount shall be paid. Client shall pay the instructions, and the date w hich t the fee will e Consultant, payment indicated. Client should anticipate that this portion amount due by the date indi If the property is sold in 2019, the fee indicated and November 28, 2019. NOTE: be due between August I � accrued. hlikelypro-rated amount of 2019 taxes paid taxes, shall be applied to the •Abatements are refunds of previously poi From Previous Years. a to Consultant a e for Abatement of Taxes successful, then Client shall pay C. Fees� • pursued by Consultant and is If tax abatement is equal to 40% of the total refund (inclusive of any interest applied). The fee shall be due and payable upon actual receipt of the tax refund. 8. Billing Example: CURRENT YEAR TAXES Actual Value: Assessed Value (29%) Mill Levy Estimated Taxes Tax Savings, 1st Y ear - Tax Savings, 2" 'd Year: 2 Year Savings Fee at 40% Client Net. Savings, 2 Years: ABATEMENT Taxes Abated Tax Savings (2 years): Abatement Fee at 40% Client Net Refund: Original Notice of valuation $1,000,000 $ 290,000 x . 08957 $25,975 $25,975 - $22,079 = $3,896 $25,975 - $22,079 = $3s 896 = TOTAL of $7,792 $7,792 x 40% _ $3,116.80 $7,792 - $3 116.80 — ';4 675.20 Prior Year Taxes Revised Valuation $850,000 $246,500 x . 08957. $22,079 Post -Abatement Taxes $25,975 $22,079 $25,975 - $22,079 = $3,896 x 2 = $7,792 $7,792 x 40% = $3,116.80 $7,792 - $31,116.80 = $4,675.20 9. Notices and Invoices. a. To Client: Any notice or invoice to Client provided for in this Contract shall be in writing and shall be given and be effective upon (a) delive to Client or (b) by mailing such notice by first class U.S. mail, addressed to Client at Client's address stated on the first page of this Contract, or to such other address as Client may designate by notice to Consultant. Client shall notify Consultant within thirty (30) days of any change of address. b. To Consultant: Any notice to Consultant shall be in writing and shall be given and be effective upon (a) delivery to Consultant or (b) by mailing such notice by first class U.S. mail, to Consultant at the address stated in the first paragraph of this Note, or to such other address as Consultant may designate by notice to Client. Consultant shall notify Client within thirty (30) days of any change of address. 10. Change in Ownership of the Property. In the event that Client sells, transfers or otherwise fails to maintain ownership of the Property or any portion thereof during the Term of this Contract, Client shall remain obli- ated to pay to Consultant any and all contingent fees which would have become due and personally g payable to Consultant under the provisions of paragraph 7 above. Client shall provide to Consultant notice of any such sale or transfer of ownership within thirty (30) days after the effective date of such change. Upon receipt of such notice from Client, Consultant shall prepare an invoice indicating the full remaining amount due related to the Property or the affected portion thereof, payment instructions, and the date by which such amount shall be paid 11. Default by Client. If any payment required by this Contract is not paid when due, or if Client fails to abide by any other obligation pursuant to this Contract, the amounts owed by Client to Consultant under the terms of this Contract shall become due immediately, and such indebtedness shall bear interest at the rate of eighteen,pe (18%) per annum from the date of default. Consultant shall be entitled to collect all reasonable costs and expenses of collection and/or suit, including, but not limited to, reasonable attorneys' fees. 12. Forbearance by Consultant Not a Waiver. Any forbearance by Consultant in exercising any right or remedy hereunder, or otherwise afforded by law, shall not be a waiver or preclude the exercise of any such right or remedy. 13. Remedies Cumulative. Each remedy provided in this Contract is distinct from and cumulative to all other rights or remedies under this Contract or afforded by law or equity, and may be exercised concurrently, independently or successively. 14. Captions. The captions and headings of the paragraphs in this Contract are for convenience only and are not to be used to interpret or define the provisions hereof. 15. Governing Law; Severability. This Contract shall be governed by the laws of the State of Colorado. In the event that any provision or clause of this Contract conflicts with the law, such conflict shall not affect other provisions of this Contract which can be given effect without the conflicting provision, and to this end the provisions of the Contract are declared to be severable. 16. Counterparts. This Agreement may be executed in any number of counterparts, including facsimiles, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same Agreement. 17. Modifications. This Agreement and any of the provisions contained hereinmay not be modified, amended, waived, discharged or terminated other than by means of a written instrument signed by all Parties. 18. Entire Agreement. This Contract represents the entire agreement between the Parties as to all matters specified herein, without limitation. No changes to this Contract shall be effective unless agreed to in a written instrument signed by both Parties. This Agreement shall be effective as of the date last signed below by the Parties. CONSULTANT: FREESTONE REAL ESTATE ADVISORS LLC Date: May 22, 2019 By: CLIENT: Company:P2t.4S2'v 2{ C BY John Heppner Please print name BY Signature terms of this Contract shall become due immediately, and such indebtedness shall bear interest at the rate of eighteen percent (18%) per annum from the date of default. Consultant shall be entitled to collect all reasonable costs and expenses of collection and/or suit, including, but not limited to, reasonable attorneys' fees. 12. Forbearance byConsultant Not a Waiver. Any forbearance by Consultant in exercising any right or remedy hereunder, or otherwise afforded by law, shall not be a waiver or preclude the exercise of any such right or remedy. 13. Remedies Cumulative. Each remedy provided in this Contract is distinct from and cumulative to all other rights or remedies under this Contract or afforded by law or equity, and may be exercised concurrently, independently or successively. 14. Captions. The captions and headings of the paragraphs in this Contract are for convenience only and are not to be used to interpret or define the provisions hereof. 15+ Governing Law; Severability. This Contract shall be governed by the laws of the State of Colorado. In the event that any provision or clause of this Contract conflicts with the law, such conflict shall not affect other provisions of this Contract which can be given effect without the conflicting provision, and to this end the provisions of the Contract are declared to be severable. 16. Counterparts. This Agreement may be executed in any number of counterparts, including facsimiles, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same Agreement. 17. Modifications. This Agreement and any of the provisions contained herein may not be modified, amended, waived, discharged or terminated other than by means of a written instrument signed by all Parties. 18. Entire Agreement. This Contract represents the entire agreement between the Parties as to all matters specified herein, without limitation. No changes to this Contract shall be effective unless agreed to in a written instrument signed by both Parties. This Agreement shall be effective as of the date last signed below by the Parties. CONSULTANT: FREESTONE REAL ESTATE ADVISORS LLC Date: May 22, 2019 By: CLIENT: Company: ' 0 isCiv C BY John flew A7 2 it Please print nam BY CONSULTANT CONTRACT CONSULTANT: FREESTONE REAL ESTATE ADVISORS LLC CLIENT / ADDRESS: John 151 S Oak Ave Eaton, CO 80615 L-► A v -- .t A ,,,,41 St P S 'r" i-A -C- PROPERTY ADDRESS: 760 E Garden Drive, Windsor, CO 80550 Ire' I' o ti A IC EAro c . ?Cc- TS' COUNTY: LARIMER 1 X WELD / ❑ PARCEL NUMBER(S): _080722215002 and 080722215002_ ("Property") This Consultant Contract (hereinafter the "Contract") is made and entered into by the above -stated Consultant and Client. Consultant and Client are referred to collectively herein as the "Parties." This Agreement is made with reference to the following Background: BACKGROUND A. Consultant offers services to the owners of property who wish to validate and/or contest the value of their Property as determined by the Assessor of the County wherein said Property is situated. B. Client is the owner of the Property described above. C. Client has received (a) Notice(s) of valuation for the Property from the Assessor of the above indicated County in the State of Colorado. D. Client wishes to enter into this Contract to retain the services of Consultant to ascertain the validity of the value(s) of the Property as determined by the Assessor, and to pursue a contest of said value(s) should Consultant decide that a contest is appropriate. AGREEMENT AND SCOPE OF WORK: 1. Background Statements. The above Background statements are incorporated fully into this Contract by this reference. 2. Acceptance. Upon acceptance by Client, as evidenced by the signature below, this Contract shall bind Client to pay the stated fee upon delivery of said services. 3. Work to be Performed by Consultant. Consultantshall review appropriate valuation techniques for the subject Property and compare that analysis to Actual Values assigned to the Property for the 2019 Notice of Valuation. Based on that analysis, Consultant shall either 1) notify Client that it judges the assigned value to be reasonable within current market conditions, or 2) file a protest of the assigned valuation with the appropriate County Assessor on behalf of Client. Consultant shall pursue the protest/appeal through the appropriate levels until a reasonable valuation level has been achieved, as determined by Consultant in its sole discretion. "Reasonable valuation level" shall be the judgment of the Consultant based on current market conditions and Consultant's analysis. 4. Power of Attorney. In conjunction with this Contract, Client shall grant to Consultant a Limited Power of Attorney wherein Client shall authorize Consultant 1) to act on Client's behalf in filing the appropriate protests/appeals and 2) to agree to a resolution on behalf of Client to those protests/appeals. 5. Information to Be Provided by Client to Consultant. Client shall provide the following information to Consultant before Consultant commences its work forClient: a. Timely Notice(s) of Valuation for the Property; b. Access to the Property as necessary and appropriate to enable Consultant to make a determination of the value of the Property. 6. Abatement of Previous Taxes. In addition to the work described in paragraph 3 above, Consultant may, as it determines appropriate after conferring with Client and as permitted by law, pursue the potential for abatement of previous taxes on the subject Property paid by Client. 7. FEE: a. $0.00 retainer (non-refundable). Concurrent with the signing of this Contract, Client shall pay to Consultant a non-refundable retainer in the amount of $0.00. Consultant shall retain this portion of the fee regardless of the result of its analysis as to the appropriateness of the assessed value of the Property. Client expressly understands that there is no guarantee that Consultant's analysis will result in a determination that a contest of the assessed value of the Property is warranted, nor that any such contest will be successful. b. Contingency. Other than the non-refundable retainer, this agreement is totally contingency -based. If Consultant's analysis reveals that the assigned valuation from the Assessor is reasonable, then no additional fees will be charged by Consultant or incurred by Client. In such event,Client will receive a written report establishing and evidencing Consultant's conclusion. Alternatively, if Consultant's analysis reveals that the assigned valuation of the Property is not reasonable and Consultant successfully appeals said valuation resulting in a reduction of the valuation from the original Notice of valuation, then the fee (described below) shall be based on the tax savings that will accrue due to said reduction. The fee will be based on the tax savings as measured by the difference between the taxes that would be owed based on the original valuation and the taxes that would be owed based on the revised valuation. The fee will be based on current assessment rations (29% commercial; 7.96% residential) and the latest mill levy in effect at the time of billing. The fee will be offset by a credit for the retainer. The retainer is considered to be a minimum fee for the services ofConsultant. c Term of Contract. THIS IS A 1 -TAX -YEAR CONTRACT (2019). However, this contact shall remain in force should the abatement approval process by The County extend beyond 2019 into 2020. First Year. In the first year, Client shall pay to Consultant a fee equal to forty percent (40%) of the tax d. savings for that year (2019 taxes, due in 2020 and 2020 taxes, due in 2021). Consultant shalt provide to Client written evidence of the revised valuation, along with an invoice indicating the amount due to Consultant, payment instructions, and the date by which such amount shall be paid. Client shall pay the indicated amount due by the date indicated. Client should anticipate that this portion of the fee will likely bedue bet ween August ust 1 and November 28, 2019. NOTE: If the property is sold in 2019, the fee shall be applied to the pro -rated amount of 2019 taxes accrued. e. Fees for Abatement of Taxes From Previous Years. Abatements are refunds of previously paid taxes. If tax abatement is pursued by Consultant and is successful, then Client shall pay to Consultant a fee equal to 40% of the total refund (inclusive of any interest applied). The fee shall be due and payable upon actual receipt of the tax refund. 8. Billing Example: CURRENT YEAR TAXES Actual Value: Assessed Value (29%) Mill Levy Estimated Taxes Tax Savings, 1 s' Year: Tax Savings, 2nd Year: 2 Year Savings Fee at 40% Client Net Savinas, 2 Years: ABATEMENT Taxes Abated Tax Savings (2 years): Abatement Fee at 40% Client Net Refund: Original Notice of Valuation $1,000,000 $ 290,000 x . 08957 $25,975 $25,975 - $22,079 = $3,896 $25,975 - $22,079 = $3,896 = TOTAL of $7,792 $7,792 x 40% = $3,116.80 $7,792 - $1116.80 = $&,671.20 Revised Valuation $850,000 $246,500 x . 08957 $22,079 Prior Year Taxes Post -Abatement Taxes $25,975 $22,079 $25,975 - $22,079 _ $3,896 x 2 = $7,792 $7,792 x 40% _ $3,116.80 $7,792 - $3,116.80 = $4,675.20 Notices and Invoices. a. ToClient: Any notice or invoice to Client provided for in this Contract shall be in writing and shall be given and be effective upon (a) delivery to Client or (b) by mailing such notice by first class U.S. mail, addressed to Client at Client's address stated on the first page of this Contract, or to such other address as Client may designate by notice to Consultant. Client shall notify Consultant within thirty (30) days of any change of address. b. To Consultant: Any notice to Consultant shall be in writing and shall be given and be effective upon (a) delivery to Consultant or (b) by mailing such notice by first class U.S. mail, to Consultant at the address stated in the first paragraph of this Note, or to such other address as Consultant may designate by notice to Client. Consultant shall notify Client within thirty (30) days of any change of address. le. Change in Ownership of the Property. In the event that Client sells, transfers or otherwise fails to maintain ownership of the Property or any portion thereof during the Term of this Contract, Client shall remain personally obligated to pay to Consultant any and all contingent fees which would have become due and p y g�' ' above. Client shall provide to Consultant notice of payable to Consultant under the provisions of paragraph 7 abo e any such sale or transfer of ownership within thirty (30) days after the effective date of such change. Upon receipt of such notice from Client, Consultant shall prepare an invoice indicating the full remaining amount due related to the Property or the affected portion thereof, payment instructions, and the date by which such amount shall be paid 1 1 . Default by Client. If any pr ayment required by this Contract is not paid when due, or if Client fails to e by any other obligation pursuant to this Contract, the amounts owed by Client to Consultant ender the abide g Hello