HomeMy WebLinkAbout770455.tiff o pF 13 NINK 11 I (
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.O Recorded at. �44 p���oy''clock... 1..M.,
991 Reception No ._.1..33..�`A.r.... Y ANN T.E1Ly....Recorder. 111 /1
THIS DEED, Made this 11th day of March , 19 77
Ibetween Bobby G. Pearson, an unmarried man
I
®'
of the
in County of Weld and State of Colorado, of the first part, and
en The County of Weld, a body corporate and politic
rr-i of the County of Weld - and State of
Colorado,of the second part:
O
WITNESSETH, That the said party of the first part,for and in consideration of the sum of
(1/41 TEN AND NO/100 DOLLARS
a` to the said part y of the first part in hand paid by said part y of the second part, the receipt whereof is
o hereby confessed and acknowledged, ha s granted, bargained,sold and conveyed,and by these presents do
O grant, bargain, sell, convey and confirm, unto the said party of the second part, its heirs and assigns for-
ever, all the following described lot or parcel of land,situate,lying and being in the
County of Weld and State of Colorado, to wit:
r-
t•
p.+d Lot 5, in Block 1, Burger and Fry's Subdivision, being a subdivision of a part
r-I of Lot Four of the Southeast Quarter of the Northeast Quarter of Section Five,
Township Five, N. , Range Sixty-five West of the Sixth Principal Meridian,
according to the subdivision of lands by the Union Colony of Colorado, Weld
County, Colorado.
TOGETHER with all and singular the hereditamenta and appurtenances thereto belonging, or in anywise
appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all
the estate, right, title, interest, claim and demand whatsoever of the said part y of the first part, either in law
or equity, of, in and to the above bargained premises, with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described with the appurtenances, unto the
said part Y of the second part, its heirs and assigns forever. And the said part y of the first part,
for him self, his heirs, executors, and administrators, do covenant, grant,bargain, and agree to and
with the said part Y of the second part, its heirs and assigns, that at the time of the ensealing and delivery
of these presents, is well seized of the premises above conveyed, as of good, sure, perfect, absolute and
indefeasible estate of inheritance, in law, in fee simple,and has good right, full power and lawful authority
to grant, bargain, sell and convey the same in manner and form as aforesaid, and that the same are free and clear
from all former and other grants, bargains, sales, liens, taxes, assessments and encumbrances of whatever kind or
nature soever. Subject to easements, rights of way, restrictions and reservations
as now established of record and 1977 taxes payable in 1978.
and the above bargained premises in the quiet and peaceable possession of the said part y of the second part,
its heirs and assigns against all and every person or persons lawfully claiming or to claim the whole
or any part thereof, the said part y of the first part shall and will WARRANT AND FOREVER DEFEND.
IN WITNESS WHEREOF,the said part y of the first part ha s hereunto set his hand
and ^+».yhe day and year first above written. _______
'Z` 7i 73-r-4 ./ (SEAL)
y
• -
�^ 0S-*- Y' t i. Bobby !6. Pearson (SEAL)
( P(J84)S—' ,7v (SEAL)
T 'E OF COLORADO, 1
rll, 0F••f'•o 1 County of Weld J}ss.
The foregoing instrument was acknowledged before m ils 11th day of March
19 77 ,by Bobby G. Pearson, an unmarried man "l,
My commission expirea0=G,- 'SI ,19 .Witn y d d'official seal
rPu c
Notary Public..No.932. WARRANTY DSEt.—Por Photographic assns.—Bndfma Publishing co..1eu4e Stout Street,Deaver,Colors& —11-75
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Pearson Parcel
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- Looking southeasterly
-I j ��d ,y, , r across the street in
Flag: _ _
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— ; z I i;i . !„ - Burger-Fry's Subdivi-
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IA . _ d.., of subject.
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. � at corrals and sheds
on the eastern and
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• ' _ Looking westerly at
• - -- corrals and sheds on
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subject parcel.
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6 rl 'Tf2&T 5�s
- 20 -
Bobby Pearson Barn
Sketch of Floor Plan
Barn Barn
24'
Kitchen/ Semi-
Store finished
Room Room
20'
- 21 -
III LEGAL DESCRIPTION
Lot Five (5) , Block One (1), Burger-Fry's Subdivision,
being a subdivision of a part of Lot Four (4) of the
Southeast Quarter of the Northeast Quarter (SEINE++-)
of Section Five (5) , Township Five (5) North, Range
Sixty five (65) West of the Sixth Principal Meridian,
according to the subdivision of lands by the Union
Weld County, Colorado.
n of Colorado,
Colony
SITE DESCRIPTION
The subject site is almost rectangular in shape but slightly trapezoidal.
It is 120.08 feet along the north side, 50. 12 feet on the east, 109.65 feet
along
lon the sout
h and the frontage or west end is 50.48 feet resulting in an area
of approximately 5 ,778 square uare feet. The fronting access street which is only
about 30 feet in width is dirt and gravel
ravel without curb and gutter. The site is
slightly below so
me of the surrounding land grade especially to the no
rth and
east. There is a very slight slope to the west toward the river which is about
230 feet away. The site undoubtedly has rather sl
ow surface drainage. Soils
are a light brown, fine sandy loam containing some gravel. No water, sewer
or natural gas is connected to the site. Electricity is from Home Light and
Power Co. via overhead lines.
A minimum quality patchy barn occupies the front portion of the site.
The east or back area is covered with sheds , corrals and chicken type pens
and sheds. There is a shallow well equipped with electric pump.
DESCRIPTION OF IMPROVEMENTS
Barn
480 square feet. Wood frame construction with exterior a patchy com-
li
bination of composition shingles, boards , tar paper and tongue and groove
siding. Foundation is wood sill, roof is roll composition. Floors are one-half
tongue and groove softwood and one-half dirt. Interior finish is a combination
of broken plaster board and patchy unfinished plywood. Electricity is furnished
by one porcelain socket per each of the four semi divided rooms . There is a
met
al bestos chimney through the roof with a small wood burning heater. General
condition is poor.
- 22 - Robert J.Mitchell
Shed
48 square feet. Small feed shed or chicken coop, frame construction,
wood sill foundation, board floor, composition siding and roof. Poor condition.
Livestock Shed
Open front, 120 square feet, spaced frame construction, corrugated
metal covers two sides and the roof. East end is mesh wire. Poor condition.
Livestock Shed
y �
ti k
200 square feet, frame and pole construction, corrugated metal sides and
roof. Poor condition.
Hay Shelter
60 square feet, roof only plus 4"x4" vertical supports, fair condition.
Others
Poor small outhouse, plank timber and board livestock loading chute.
Corrals
Back area of the site is basically divided into two pens by combinations
of peeled pole, wire, 2"x4" and 2"x6" horizontal board, and scrappy vertical
boards on railroad tie and cedar posts . Small area of feed bunk is plank and
pole construction.
Well
Reportedly 20 to 25 feet deep, newly equipped with electric submersible
pump and motor. Piped to livestock corrals . Assumed unsafe for human con-
sumption.
ZONING
The subject property is zoned I, Industrial District by Weld County.
Uses permitted in this district are found in excerpts from applicable ordinances
in the Addenda of Volume I (Basic Data Report) previously submitted for the
appraisal project. This parcel is outside the flood district zoning boundaries
paralleling the Cache la Poudre River.
- 23 - � �,.
ASSESSED VALUE AND TAXES
According to the records of the Weld County Assessor's office, subject
Lot 5, Block 1, is assessed at $30 for land and $80 for improvements for a
total of $110. The applicable mill levy of 91 .07 results in general real estate
taxes of $10. 02 .
HIGHEST AND BEST USE
Present use - as extremely small livestock holding enterprise, with land
as potential for industrial development.
EVALUATION
Sales History of Subject
In July of-1973, the property transferred from Brawner to Stanley Schrader.
The documentary fees indicated no consideration. In August, 1974, Schrader
transferred the property to Dennis Arnold - again no consideration indicated on
the deed. On March 5, 1975 Dennis L. and Loy A. Arnold deeded the property
to Bobby G. Pearson. The $2,000 consideration indicated by the state docu-
mentary fee was confirmed by Mr. Pearson. The current owner states that he
equipped the well and has made minor improvements to the corrals.
Market Approach
This property is somewhat unique of those being appraised for this general
Urban Renewal project due to improvements that provide a limited use mainly for
handling livestock. Most of the other improved properties include a low income
housing facility or are vacant land. The subject existing improvements are
considered to enhance the land value only slightly as an interim use during the
relatively short period when this property would more likely be put to its
potential as a part of an industrial site.
No sales of similarly improved property were found. Therefore, this
property is analyzed on a comparative basis with both minimally improved
transactions and purely land sales . The following analysis of six transactions
results in indications of values for the subject on a unit (per square foot) basis,
including any enhancement of the land by the existing improvements.
- 24 - Hui,, I rtruaai
Sale No. 2 which took place in December, 1974 at the rate of $0.42 per
square foot, if the total value were for land, is adjusted up for date and down
slightly for location resulting in an indication of $0.44 per square foot for
subject land including improvements .
Sale No. 4 in May, 1974, at the rate of $0. 18 per square foot, if all for
land, is adjusted up for date, for lot size and for location but still only indi-
cates $0. 25 per square foot for subject.
Sale B included an old house which was demolished. The sale in August
of 1975 at the rate of $0. 11 per square foot - if all land, is adjusted up for
date and indicates only $0. 12 per square foot for subject.
Sale C in July, 1975, at the rate of $0. 39 per square foot is adjusted
up for date, lot size and down for location and indicates $0. 37 per square foot.
Sale D in June of 1973, at $0.48 per square foot is adjusted up rather
strongly for date, down slightly for location and indicates $0. 60 per square
foot.
Sale E in June, 1973, at only $0. 17 per square foot is also adjusted up
strongly for date, slightly for lot size and down slightly for location indicating
$0.22 per square foot.
It is again noted that most of these sales included meager improvements
and, in many cases , they were almost immediately razed from the site. In
most cases, the improvements included were poor, low quality residences
rather than livestock facilities . The average of the six indicators is $0.33
per square foot. Sale No. 4 which indicates $0. 25 per square foot is one of
the better comparables due to its location in the Burger-Fry's Subdivision.
However, the transaction took place over two years ago. Sale D, at the rela-
tively high indicator of $0.60 per square foot recognizes some enhancement
due to assemblage with adjoining land. This situation undoubtedly exists
between the subject and neighboring land to the east and possibly to the north.
As a result of this study, value of the subject site with contributory value
of improvements is estimated to be $0.45 per square foot.
5,778 sq. ft. @ $0.45 p.s.f. = $2 ,600
As previously mentioned, there have been no sales of similarly improved
properties . The contributory value of the sheds and corrals is minor. A Cost
Approach (Replacement Cost New less depreciation) requires judgment estimates
in heavy degrees regarding depreciation. The original general market analysis
- 25 - Ic -,I I „ It-[I
presented in the Basic Data Report suggest old, poor residential improvements
generally to have contributory values of buildings which were utilized as in-
habitable or useable were in the $1 .00 to $1 . 50 bracket. Therefore, the
improvements are considered, from a market analysis , to have contributed as
follows:
Barn - 480 sq. ft. @ $1 . 50 p.s .f. = $ 920
a Sheds , corrals and well $ 380 Ili
Total
$1 ,100
Market Analysis Summary
Land - (if unimproved)
5,778 sq. ft. @ $0. 30 p. s.f. = $1 ,733
Improvements - $1 ,100
Total $2,833
Correlation
The Income Approach is of no value to this evaluation. It would be highly
unusual to be able to rent the shabby livestock improvements . The site could
possibly be rented at a low rate for industrial storage.
It has been previously pointed out in the Basic Data Report that a Cost
Approach is of little value due to the high degree of accrued depreciation which
exists in the improvements involved with this type property.
s
The market analysis has been presented by two methods from a practical
approach as indicating a proper land value with slight enhancement for the unique I
improvements.
The relatively recent sale of the subject is also given consideration. The
$2,000 purchase price is adjusted upward 10% or $200 for date and $200 for
the improvements to corrals and the pump and well. Therefore, now indicating a
value of $2,400.
As a result of all of these considerations, value of the subject Bobby
Pearson ownership, is estimated to be $2,700.00.
26 ;ion t "4,ithill
�fr •
GREELEY URBAN RENEWAL AUTHORITY
CONTRACT OF PURCHASE
•
The GREELEY URBAN RENEWAL AUTHORITY, a body corporate and politic of
the State of Colorado, hereinafter called the "Authority" agrees to purchase
and Bobby G. Pearson
hereinafter called "Owner" or "Owner-Occupant," agrees to sell the following
described real property situated in the City of Greeley, County of Weld,
State of Colorado.:
Lot 5, in Block 1, Burger and Fry's Subdivision, being a subdivision of apart
of Lot Four of the Southeast Quarter of the Northeast Quarter of Section Five,
Township Five, N. , Range Sixty-five West of the Sixth Principal Meridian,
according to the subdivision of lands by the Union Colony of Colorado, Weld
County, Colorado.
together with all fixtures and appurtenances, including, but not limited to,
all cooling, heating, lighting, plumbing and air conditioning equipment, and
fixtures located thereon or in, and all shelving and partitions attached to.
the real estate, unless specifically excepted herein,
Parcel No.
upon the following terms and conditions:
1. The total purchase price to be paid by the Authority for said property,
including all improvements and fixtures located thereon, shall be the sum of
TWO THOUSAND FIVE HUNDRED AND NO/100 - Dollars
($ 2,500.00 ) , less the adjustments thereto,, hereinafter specifically set
forth.
2. The Owner agrees to deliver to the Authority within five (5) days from
the date of this Contract, evidence of title in the form of a title insurance
policy or an abstract of title not certified to date. Thereupon, the Authority
shall order a Commitment for Title Insurance Policy to be issued by a title
insurance company selected by the Authority. In the event the commitment for
title insurance does not show that Owner has a good and merchantable fee simple
title to said premises or shows outstanding liens against or encumbrances upon
the property, or in the event said commitment or other investigation shows rights
of parties in possession other than those listed in Paragraph 8 hereof, the
Authority may, at its option, satisfy such liens or encumbrances, or acquire
the rights to possession, and subtract from the amount to be paid to the Owner
the amount of any consideration paid on account thereof.
If Owner is unable to show merchantable title in himself, Owner shall,
at the option of the Authority, convey to the Authority such title as he has,
and the purchase price shall be abated in an amount equal to the cost to the
Authority of whatever curative action is deemed by the Authority to be necessary.
3. On or before Marchll . 1877 , Owner agrees to execute and deliver
to the Authority a good and sufficient General Warranty Deed conveying the property
free and clear of all liens and encumbrances, except existing rights-of-way,
easements, reservations, liens of the Northern Colorado Water Conservancy districts,
and liens of the current years'• taxes.
Upon delivery of said Deed, the Authority agrees to deliver or mail a
check payable to Owner in the amount of the purchase price for said property,
less lien encumbrances , unpaid taxes, pro-rated rents, and water rents, when the
title company has notified the Authority that its requirements have been satisfied,
and that no intervening instruments affecting title to said property appear of
record subsequent to date of title commitment and prior to recording of Deed from
Owner to the Authority.
General property taxes for 1977 (based on amount of the previous year's
taxes or as assessed) , rents , water rents, and currect assessments, if any, shall
be apportioned to the date of vesting title in the Authority or the effective
wfel1
date of possession of such real property by the Authority, whichever is
earlier. All special improvement taxes which are a lien against said property
as of the date of delivery of said Deed shall be paid by the Owner.
4. When rents have been collected by the Owner for a period after the
' date of vesting title in the Authority or the effective date of possession of such
real property by the Authority, whichever is earlier, such pro-rated rent shall
be paid to the Authority or deducted from the purchase price at final settlement.
5. Loss or damage to the property from any cause including fire, vandalism,
• or casualty, from December 9, 1976 , the date of the Authority's appraisal
until the peed from the Owner to the Authorityl has been recorded, shall be at the
risk of the Owner.
6. Possession of said property shall be delivered to the Authority simul-
taneously with delivery of the peed. The Owner shall deliver possession free
and clear of all possessory rights of all parties, and shall vacate said
premises on or before the closing date, provided that if the Owner or tenant
enters into a new lease with Greeley Urban Renewal Authority, such owner or
tenant may continue in possession in accordance with the terms of said lease.
7. It is agreed that time is of the essence, and all covenants and agreements
herein contained shalt be binding upon and shall inure to the benefit of the
heirs, executors, administrators, personal representatives, successors, and
. assigns of the parties.
8. Owner represents that the undersigned are the sole owners of the fee
simple title to said premises and that no parts of said premises are occupied
by tenants or others except as listed on the attached Exhibit A who occupy as
tenants for terms expiring as shown in Exhibit A.
The Owner agrees to allow a representative of the Authority to inspect
the property and to determine the status of the parties in possession.
9. If the Owner by deed or otherwise is unable to convey good and merchan-
t table title free and clear of any interest, then notwithstanding any provision
hereof to the contrary, the Authority may, in lieu of completing the purchase
of the property at any time prior to closing, proceed to acquire the property
by condemnation. In that event, the Owner agrees that this Contract shall
continue in full force and effect until the conclusion of the condemnation case.
The Owner further agrees to enter into a written stipulation to be filed in the
court records, the terms of which shall be that the purchase price above stated
is the fair market 'value of the subject property, inclusive of every interest
therein.
10. When executed by the parties, this Agreement shall be specifically
enforceable by any court of competent jurisdiction.
11. This Contract shall fulfill the requirement in the Authority's Land
Acquisition Policy Statement for notice to Owner of the date upon which
possession will be required by the Authority. The Owner acknowledges that he
was not required to agree to a date less than 90 days after the date of execution
of this Contract and that, if the date in Section 3 hereof is less than said
period, that date is mutually agreed to.
IN WITNE4S WHEREOF, the parties have hereunto subscribed their names this
/ ` ` r Z2.
rf day of A/ 19
GREELEY URBAN RENEWAL
AUTHORITY
ATTEST: By C Ke y
Chairman ,..1�
I'Y�4J�
Sect tary
Page Two
•
5. It appears to the Authority, based upon all matters brought to the
attention of the members thereof, the appraisers who rendered the written
appraisals upon which this determination of fair market values have been made,
and the Review Appraiser who reviewed those written appraisals, arecompetent,
and the appraisals and the review of those appraisals appear to have been
done in accordance with applicable state and federal law and in accordance with
the policies and requirements of the Department of Housing and Urban Develop-
ment.PASSED AND ADOPTED THIS 917i DAY OF DECEMBER, 1976.
GREELEY URBAN RENEWAL AUTHORITY
Chairman C
•
ATTEST:
Secretar
RESOLUTION NO. 57
(Series 1975)
RESOLUTION ESTABLISHING FAIR MARKET VALUES
WHEREAS, the Greeley Urban Renewal Authority (the "Authority") has decided
to acquire the land and structures on nine parcels of real estate;
WHEREAS, the Authority has caused said structures and land to be appraised
in accordance with the guidelines and standards established by the Department
of Housing and Urban Development, and
WHEREAS, the individual members of the Authority have considered the
appraisals, and have been appraised that the written appraisals have in turn
been reviewed by the Review Appraiser;
NOW, THEREFORE, BE IT RESOLVED BY THE GREELEY URBAN RENEWAL AUTHORITY:
1. That the legal descriptions of the properties from which the structures
and land are being purchased are:
a. Block Two, Lot 4, Burger and Fry's Subdivision, Weld County,
Colorado.
b. Block Two, Lot 9, Burger and Fry's Subdivision, Weld County,
Colorado.
c. Block One, Lot 5, Burger and Fry's Subdivision, Weld County,
Colorado.
d. Block Two, Lot 11, Burger and Fry's Subdivision, Weld County,
Colorado.
e. Block One, Lots 9 and 10, Burger and Fry's Subdivision, Weld
County, Colorado.
f. Block Two, Lot 1, Burger and Fry's Subdivision, Weld County,
Colorado.
g. Block Two, Lot 12, Burger and Fry's Subdivision, Weld County,
Colorado.
h. West 30' of the East 80' of Lot 4, Block 1, Billings and
Sylvester Subdivision, Greeley, Weld County, Colorado. •
2. Based upon deeds and other instruments recorded in the Weld County
records, and upon all other documents which have been brought to the attention
of the Authority, it appears that the above-mentioned properties are designated
on the records of the Authority and owned by:
a. Lloyd Whitledge and Larry Stevens, Block Two, Lot 4.
b. Adolph and Nettie Schafer, Block Two, Lot 9.
c. Bobby Pearson, Block One, Lot 5.
d. Joe Maldonado, Block Two, Lot 11.
e. Concepcion Mendoza, Block One, Lots 9 and 10.
f. Albert and Grace Quintana, Block Two, Lot 1.
g. Arron C. and Agapito Barrera, Jr. , Block Two, Lot 12.
h. Mary Gonzales, W30' of the E80' , Block One, Lot 4.
3. The above-named owner or owners of the properties appear to own fee
simple title to the property.
4. The fair market values of the properties and improvements are:
a. $2,500.00.
b. $4,600.00.
c. $2,500.00.
d. $750.00.
e. $2,800.00.
f. $2,500.00.
g. $2,000.00.
h. $5,500.00.
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