HomeMy WebLinkAbout20151386.tiff RESOLUTION
RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND
OF TAXES -WIND SHORE, LLC
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board of County Commissioners of Weld County, State of Colorado, at a
duly and lawfully called regular meeting held on the 18th day of May, 2015, at which meeting there
were present the following members: Chair Barbara Kirkmeyer, and Commissioners Mike
Freeman, Sean P. Conway, Julie A. Cozad, and Steve Moreno, and
WHEREAS, notice of such meeting and an opportunity to be present has been given to
the taxpayer and the Assessor of said County, with said Assessor, Christopher Woodruff, being
present by, and taxpayer, Wind Shore, LLC, being represented by their agent, David Johnson and
WHEREAS, the Board of County Commissioners has carefully considered the attached
petition, and is fully advised in relation thereto.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Board concurs with the recommendation of the Assessor and the
petition be and hereby is, denied, and an abatement or refund be allowed as follows:
CORRECTION
TO ASSESSED ABATEMENT TAX
VALUATION OR REFUND YEAR
$0.00 $0.00 2012
2015-1386
AS0090
TAX ABATEMENT PETITION -WIND SHORE, LLC
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 18th day of May, A.D., 2015.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
A l.
ATTEST: Cam( �,�,/ It
rte• .�ClLo�� :`Barbara K kmeyer, Chairs �`
Weld County Clerk to the Board )_fi
Mike Freeman, Pro-Tem BY!'i Okij a.) . i eej uty Clerk to the oard �r.•.�, c` �� �—
#� L / 4 , Seam. Conway
..-.--)
•
APPROVED AS TO FOR J. �4i I f a
1 i..� cit=�D�z�. 'Julie A. ozad
County ttorney ikr- fiqk , j12.p2¢.......tc-
( i A 4. Steve Moreno•
tflDate of signature: /
2015-1386
AS0090
PETITION FOR ABATEMENT OR REFUND OF TAXES
;)/ /' r; , i' r
County:WELD Date Received i�
(Use Assessors or Commissioners'Date Stamp)
Section I: Petitioner, please complete Section I only.
e
Date: 12/12/2014
Month Day Year DEC 2 9 2014
Petitioner's Name: Joseph C. Sansone Co.,Attn: David Johnson
Wli�Q COUNTY AS.R SOf
Petitioner's Mailing Address. 18040 Edison Ave. R F) FY E'f7f ry.
Chesterfield MO 63005
City or Town State Zip Code
SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY
R0126095/080716300014 208 Main St and 220 Main St
Petitioner requests an abatement or refund of the appropriate taxes and states that the taxes assessed against the
above property for the property tax year 2012 are incorrect for the following reasons: (Briefly describe why
the taxes have been levied erroneously or illegally,whether due to erroneous valuation, irregularity in levying,
clerical error, or overvaluation. Attach additional sheets if necessary.)
The Assessor's calculation of the property's fair market value exceeds the property's actual fair market value.
RECEIVED
Petitioner's estimate of value: $539,110 (2012 ) WELD COI j N TY
COMMValue Year M LSS i NE"P;
I declare, under penalty of perjury in the second degree, that this petition, together with any accompanying exhibits
or statements, has been prepared or examined by me, and to the best of my knowledge, information., and belief, is
true, correct, and complete.
>u
Daytime Phone Number
Petifitrers S 4tur4 / O CP i -1
a.ems � sd
By >.Oj � Daytime Phone Number(636 ) 733-5455
Agent's Signature
'Letter of agency must be attached when petition is submitted by an agent.
If the Board of County Commissioners,pursuant to§39-10-114(1),C.R.S.,or the Property Tax Administrator,pursuant to§39-2-116,C.R.S.,
denies the petition for refund or abatement of taxes in whole or in part,the Petitioner may appeal to the Board of Assessment Appeals pursuant
to the provisions of§39-2-125.C R S,within thirty days of the entry of any such decision,§39-10-114 5(1),C.R S.
Section II: Assessor's Recommendation
(For Assessor's Use Only)
Tax Year 2Qt4-
��77Acctual Assessed Tax
Original , C/f. nv 7/Z/409t 39, 12 ,4 D
Corrected �e-17d1, no 37 2,O0 3P, 71V. 31)
Abate/Refund
2015-1386
❑Assessor recommends approval as outlined above.
If the request for abatement is based upon the grounds of overvaluation,no abatement or refund of taxes shall be made if an objection or protest
to such valuation has been filed and a Notice of Determination has been mailed to the taxpayer,§39-10-114(1)(a)(I)(D),C.R S
Tax year: Protest? ❑No 0 Yes (If a protest was filed,please attach a copy of the NOD.) •
Assessor recommends denial for the following reason(s):
,),7,c...;,9 ✓U?-� �-urcZ ) tx O
Assessor's o eputy Assessor's Sig tore
15-DPT-AR No.920-66/11 _
FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY
• (Section III or Section IV must be completed)
Every petition for abatement or refund filed pursuant to§39-10-114.C.R.5.shall be acted upon pursuant to the provisions of this section by the
Board of County Commissioners or the Assessor,as appropriate,within six months of the date of filing such petition,§39-1-113(1.7).C.R.S.
Section III: Written Mutual Agreement of Assessor and Petitioner
(Only for abatements up to$10,000)
The Commissioners of County authorize the Assessor by Resolution No.
to review petitions for abatement or refund and to settle by written mutual agreement any such petition for
abatement or refund in an amount of$10,000 or less per tract, parcel, or lot of land or per schedule of personal
property, in accordance with§39-1-113(1.5), C.R.S.
The Assessor and Petitioner mutually agree to the values and tax abatement/refund of:
Tax Year
Actual Assessed Tax
Original
Corrected
Abate/Refund
Note.The total tax amount does not include accrued interest,penalties,and fees associated with late and/or delinquent tax payments,if
applicable. Please contact the County Treasurer for full payment information.
Petitioner's Signature Date
Assessor's or Deputy Assessor's Signature Date
Section IV: Decision of the County Commissioners
(Must be completed if Section III does not apply)
WHEREAS, the County Commissioners of County, State of Colorado,at a duly and lawfully
called regular meeting held on / / , at which meeting there were present the following members.
Month Day Year
with notice of such meeting and an opportunity to be present having been given to the Petitioner and the Assessor
of said County and Assessor (being present--not present)and
Name
Petitioner (being present--not present), and WHEREAS,the said
Name
County Commissioners have carefully considered the within petition, and are fully advised in relation thereto,
NOW BE IT RESOLVED that the Board(agrees--does not agree)with the recommendation of the Assessor,
and that the petition be(approved--approved in part--denied)with an abatement/refund as follows:
Year Assessed Value Taxes Abate/Refund
Chairperson of the Board of County Commissioners'Signature
County Clerk and Ex-Officio Clerk of the Board of County Commissioners
in and for the aforementioned county, do hereby certify that the above and foregoing order is truly copied from the
record of the proceedings of the Board of County Commissioners.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County
this day of
Month Year
County Clerk's or Deputy County Clerk's Signature
Note. Abatements greater than$10,000 per schedule,per year,must be submitted in duplicate to the Property Tax Administrator for review.
Section V: Action of the Property Tax Administrator
(For all abatements greater than$10,000)
The action of the Board of County Commissioners, relative to this petition, is hereby
❑Approved ❑Approved in part$ LI Denied for the following reason(s):
Secretary's Signature Property Tax Administrator's Signature Date
15-OPT-AR No.920-56/11
AGENT AUTHORIZATION
TO:
Assessor's Office and the
Assessment Review Agency
WIND SHORE LLC
hereby authorizes and appoints Joseph C. Sansone
Company to act as agent with full authority to handle all matters relating to ad valorem
tax matters. This includes but is not limited to filing of property tax declarations or other
documents with you or the Assessment Appeals Board, examining any records in your
office which I have a right to examine, appearing before any assessment officer or board
and discussing assessments and resolving disputes with you concerning the assessment
on property for which I am responsible for the property taxes. This agency shall
terminate when all matters relating to the 20 i 4'ugh 2015 assessments are resolved.
WIND SHORE LLC ,,
EXACT NAME OF PROPERTY O t NOTE OF VALUATION)
Ft
208 Main Street,Windsor,CO 80550 it, 1 ;0428095/080716300014
STREE ADDRES S ?ULE/PARCEL NUMBER
AUT ORIZE SIGNATURE *. PRINT NAME OF SIGNER
1 2-(/ 41AN4G12
DATE TITLE
970.686-9191
PHONE NUMBER
State of Colorado
City of w,(Aso r •
rA �I
On this day of •,2014 before me,the undersigned officer,personally appeared
A- r' -4el1LQ r known to me(or satisfactorily proven)to be the person whose name is subscribed to
within the instrument and acknowledged that he executed the same-for the purposes therein contained.
Inwitness hereof 1 hereunto set my hand and official seal. 100
SARAH E SHUBERT Public
NOTARY PUBLIC
STATE OF COLORADO
NOTARY IV 20144017662
8tYCORNHSSt01 EXPIRES 040012018
•
04/27/2015
Attn: Chris Woodruff
RE: 2012 Abatement received 12/29/2014
R0126095
Owner: Wind Shore LLC
Industrial Flex mall building
208 Main Street
Windsor, CO
2012 Assessors Value$1,067,330 or$65/sf
SUBJECT:
The subject property is 16,588 sf of Industrial Flex Mall space in 2 separate buildings. The property is
located at 208 Main Street in Windsor with good visibility and access. The improvements were built in
1997 and 1998 and have been well maintained throughout the years. The various units are occupied by
a mix of retail and service companies, each having store front and storage in the rear with rear overhead
garage doors. The property owner is represented by Joseph C. Sansone tax agency and is requesting a
reduction in value for 2012 from $1,067,330 to$539,110.The petitioner has not provided any
documentation or analysis to support a reduction in value.
Market Approach:
Sales of Industrial Flex buildings similar to the subject were analyzed. For the 2012 value, market data
revealed the best comparable sales ranged from $67 psf to $127 psf.
R7533299 & R7533399 - 3773 Monarch St, Frederick. Sold 06/30/2009 for$67 psf
R8122599—1020 Carbon Court, Erie. Sold 07/17/2008 for$81 psf
R6994598—6380 W. 10th St, Greeley. Sold 05/04/2009 for$60 psf(single condo unit)
There were no sales of Industrial Flex Mall space in Windsor in the prescribed base period. Comparable
1 was considered to be the most similar to the subject property in terms of size, age, and condition.
Cost Approach:
Due to the age of the buildings this approach was considered but not developed.
Income Approach:
There was a lease in Windsor of a 9,600 sf Ind. Flex Mall in 2009-10 for$5.82/sf nnn. Applying this
lease rate to the subject, with 10%vacancy, 8%expenses, and an 8%cap rate equates to a total value
for the subject of$999,213.
Reconciliation:
Due to the data presented here on the Market Sales Comparison Approach, we recommend sustaining
the Assessor's values for 2012.
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CLERK TO THE BOARD
PHONE: (970) 336-7215, EXT. 5226
1861 FAX: (970) 352-0242
1150 O STREET
P.O. BOX 758
�� •:� GREELEY, COLORADO 80632
May 1, 2015
Wind Shore, LLC
208 Main Street
Windsor, CO 80550
RE: SCHEDULE NUMBER R0126095
Dear Property Owner:
This is to advise you that the Weld County Board of Commissioners will hear your petition for
abatement or refund of taxes on the property described as: 208 and 220 Main Street, Windsor.
The meeting is scheduled for May 18, 2015, at 9:00 a.m., in the Chambers of the Board of
County Commissioners of Weld County, Colorado, Weld County Administration Building, 1150
O Street, Assembly Room, Greeley, Colorado 80631.
The Assessor is recommending that the Board deny your petition. You are not required to be
present at this hearing; however, this is your opportunity to have your position heard, particularly
if your position is opposed to the Assessor's recommendation. If you intend to submit any
documentation in support of your position for this hearing, all such documentation must be
submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at
least seven calendar days prior to the meeting date in order for it to be considered at the
scheduled hearing.
If you have any questions concerning this matter, please do not hesitate to contact me at
(970) 336-7215, Extension 5226.
Kerely,
Raa A. Martinez
Deputy Clerk to the Board
cc: Assessor
Joseph C. Sansone Co.
Attn: David Johnson
18040 Edison Avenue
Chesterfield, MO 63005
REAL PROPERTY SUMMARY ANALYSIS
OF
Windshore LLC
208 Main Street
Windsor, CO 80550
Parcel ID(s) Appeal Number
080716300014
As of
1/1/2012
Prepared By:
p
JOSEPH C. SANSONE COMPANY
18040 Edison Avenue
Chesterfield, Missouri 63005
<This is not an apps<isal>
This information is provided by the Joseph C.Sansone Company as an authorized advocate and representative of the property owner or taxpayer,
Therefore,the information is not and should not be considered an objective analysis of the value of the subject property interest. The information is
not intended to constitute an"appraisal"or"appraisal report"pursuant to the Uniform Standards of Professional Appraisal Practice("USPAP")or
Missouri law. No one from the Joseph C.Sansone Company is acting as a licensed or certified real estate appraiser in this matter.Whether any person
involved in the preparation or presentation of the information is a licensed or certified appraiser is of no importance and the information and
presentation are not intended to comply with the USPAP requirements of appraisal practice.
G20/5 13135
208 Main Street
PTR Number:15321700001CO
Location I Ds:080716300014.
Tax Year 2012 / Pay Year 2013
Area Type WAREHOUSE location Totals
Gross Building Area 16,588 16,588
Net Leaseable Area 16,588 16,588
Potential Gross Income 6.00 99,528 6.00 99,528
Vacancy and Credit Loss 10.0% 9,953 10.0% 9.953
Effective Gross Income 89,575 89,575
Overall Expense 10.0% 8,958 10.0% 8958
Net Operating Income 8- L 80,618
Base Cap Rate 9.250
Adj Tax Rate 0.281
Adj Cap Rate 9.531
Value Sum 845,820
Indicated Value 846,000
Total Indicated Value per SF(NLA) 50.99
Prepared for Presented by Zeke Sansone
5115/2015 Joseph C.Sansone Co.
(636)537-2307
mmcdonald@jcsco.com
License:jkhvhgchc
Sold Property Comparison Report for Industrial Properties
:9'47
Address 5874 Langley Ave 561 Garden Drive, 1542 Taurus Ct
Loveland,CO 80538 Unit J Loveland,CO 80537
Windsor,CO 80550
Property Type Industrial Industrial Industrial
Property Subtype Distribution Flex Space Flex Space
Warehouse
Zoning
Year Built 1994 2009
Building Size 13,440 SF 3,140 SF 4,515 SF
No.Units
No.Stories 1 2
Lot Size 1.97 Acres 0.10 Acres
APN/Parcel ID 86273-18-001 85182-30-542
Sale Date 08/03/2010 01/11/2010 08/31/2009
Sale Price $764,250 $130,000 $266,000
Sale Price Per $56.86/SF $41.40/SF $58.91/SF
Cap Rate
Estimated Days on 559 74
LoopNet
Marketplace
Notes
RERC REAL ESTATE REPORT REAL ESTATE
WVWV.RERC.COM I CORPORATION
SUMMER 2010
Regional Investment Criteria—20 2010 Second-Tier Investment Properties
Office Industrial Retail ,
COD I Suburban Warehouse I R&D I Flex Regional Mall!Power Center'Neigh/Comm Apartment Hotel
West Investment Criteria
Range 80-130 80-130 8.0-12.8 8.0-13.8 7.5-13.8 80-130 75-130 80-130 7.0-12.0 90-150
Average 10.7 10.9 10.4 10.7 10.6 10.7 ( 10.6 10.8 9.7 12.2
➢" ►Calk
Range 75-110 70-110 7:0-11.0 7.0-13.0 7.5-13.0 6.5-13.0 68-110 65-110 5.8.10.0 75-125
Average 8.7 8.9 8.6 9.0 8.9 / 8.8 8.8 8.7 7.6 10.3 -
*04 P,Ret.
Range 78-115 75-120 7,5-11.5 7.5-11.5 8.0-11.5 70-130 70-115 73-115 6.3-10.5 80-130
Average 9.4 9.6 9.2 9.6 9.5 9 4 9.5 9.5 8.1 11.0
Midwest Investment Criteria
tire-IazY&dORM( - -
Range 95-140 10-0-150 9.0-15.0 9.0-14.0 9,0-15.0 90-125 90-120 90-125 9.0-12,D 105-140
Average 11.6 , 11.7 11.2 11.1 11.4 11.0 10.9 10.6 I 10.3 12.7
Range 80-120 85-120 8.0-11.0 8.0-11.0 8.0-11.0 80-105 80-108 80-110 6.5-10.0 90-125
Average 9.5 • 9.6 9.4 9.5 9.6 9.3 9.2 9.4 8.6 10.7
Temunal Cap.Rlite(x)
Range 90-120 90-120 8.3-14.0 8.8-12.0 8.5-13.0 85-110 85-115 85-120 7.5-11.0 £5-130
Average J 10.2 101 10.1 10.1 10.3 9.8 9.8 9 9 9.1 11.4
South Investment Criteria
Pie#exYIedPIOt9
Range 90-130 90-140 8.5-13.5 8.3-13.0 8.3-13.0 90-125 90-130 83-130 8.0-14.5 110.145
Average 11.1 11.2 11.0 _ 11.0 11.1 10.8 110 11.1 10.6 12.6
fishy:la Ca. IV
Range 80-105 80-115 8.0-11.0 7.5-11.0 8.0-11.0 75-120 7.8-120 7.8-115 6.8-11.3 80-120
Average 9.2 93 } 9.3 9.5 9.6 9.3 9.4 9.4 8.7 10.3
'Yern+ina1 C"Ratsa.% .
Range 83.110 8-5-130 8.3-13.0 7.8-13.0 8.5-13.0 85.140 85-140 80-130 7.0-13.0 85.130
Average 9.8 9.9 10.0 10.2 10.3 10.2 10.0 9.9 9.5 10.9
East Investment Criteria
pre-t,x Yd1l J,t
Range 85-125 90-125 9.0-13.0 9.0-13.0 8.8-13.0 83-125 8.3-125 85-123 7.5-11.0 100-150
Average 1 10.0 10 5 10.6 10.9 10.9 10.4 10.2 10.3 9.7 12.3
10 Cap date(%) _
Range 70-115 75-115 7.8-11.D 7.8-11.5 7.8-11.0 68-100 73-100 75-110 6.0-10.0 75-130
Average 8.5 9.0 9.2 9.3 9.3 87 8.7 9.0 8.1 10.2
Terminal Cap hate )
Range 75-120 80-120 8.3-12.0 8.3-12.0 8.3-12.0 75-120 78-105 80-115 6.5.10.5 90-135
Average 9.2 9 6 9.8 10.0 9.9 9.4 9.4 9.6 8.7 11.2
'Second-tier investment properties are detned as aging,former first-tier properties,in good to average locations,
A If of RERC Defined Regions is located In the back of this report in the'Scope and Methodology'section.
02010 Rol ista*Flaseirelt Corp:nibs.AldohdHeardOdaertd indy818 Inn*Frey not bscopddorMwos, dMwryformetladupronwrittencanentdREfaC. [29
CLERK TO THE BOARD
1861 PHONE: (970) 336-7215, Ext. 5226
FAX (970) 352-0242
1150 O STREET
�r P.O. BOX 758
! ■■ GREELEY, COLORADO 80632
04644,4\0 1J NTY
-;7)
June 16, 2015
Wind Shore, LLC
208 Main Street
Windsor, CO 80550
RE: SCHEDULE NUMBER R0126095
Dear Property Owner:
On May 18, 2015, the Board of Weld County Commissioners considered your petition for
abatement or refund of taxes and denied same.
Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State
Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and
instructions from:
Board of Assessment Appeals, Department of Local Affairs,1313 Sherman Street, Room 315
Denver, CO 80203
Phone: 303-866-5880
In preparation for appealing to the State Board of Assessment Appeals you may also go to the
following state link to obtain any further information you may need to proceed,
http://www.dola.state.co.us/baa/index.htm
Very truly yours,
()0
Ra aela A. Martinez
Deputy Clerk to the Board
cc: Assessor
Joseph C. Sansone
Attn: David Johnson
18040 Edison Avenue
Chesterfield, MO 63005
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