CO

MM

ER

CIA

L O

FF

ICE

BU

ILD

ING

& L

AN

D

THE INFORMATION CONTAINED HEREIN, WHILE NOT GUARANTEED, IS FROM SOURCES WE BELIEVE RELIABLE. PRICE, TERMS AND INFORMATION ARE SUBJECT TO CHANGE. SHELDONGOLD REALTY INC. AND ITS BROKER ASSOCIATES, ARE OR WILL BE ACTING AS AGENTS OF THE SELLER/LESSOR WITH THE DUTY TO REPRESENT THE INTERESTS OF THE SELLER/LESSOR. SHELDONGOLD REALTY INC. WILL NOT ACT AS YOUR AGENT UNLESS AN AGENCY AGREEMENT IS SIGNED AND IN EFFECT.

Eric J. Gold, President 303.741.2500 9025 East Kenyon Avenue, Suite 100 Denver, CO 80237 egold@sg-realty.com www.sg-realty.com

OWNER/USER OFFICE BUILDING OR REDEVELOPMENT LAND FOR SALE

200 Feet of High Visibility S. Broadway Frontage

Age: House - 1930; Office Addition - 1981

Taxes: $17,932.97 2017 paid 2018

Parking: 21 spaces

Roof: House - 1991; Office - 1981

HVAC: South - 2011; North - 2013

County: Arapahoe

Zoning: MU-B2

SALE OPTIONS SQUARE FEET PRICE

Existing Building and South 4 Lots

4,706/GSF Building 12,500/SF Land

$900,000

North 4 Lots only 12,500/SF Land $562,500

Existing Building and All 8 Lots 4,706/GSF Building 25,000/SF Land

$1,125,000

Features: 2,124/SF Victorian House converted to offices plus

2,582/SF office building - Total 4,706/SF 13 private offices, reception, 2 conference rooms,

break room, work room 3,000+-/SF below grade unfinished basement with

160+-/SF concrete vault All existing tenants on month to month lease with

60 days notice

3766 & 3780 S. Broadway, Englewood CO 80113

OFFICE OWNERSHIP ANALYSIS FOR: 3780 S. BroadwayPrice 900,000.00$ Englewood CO

Total Square Footage4,706

90% Financing Mortgage Data Calculation of Improvements Value1st Mortgage Current Total County Appraised Value $798,000

Current County Improvement Appraised Value $750,000Amount 810,000.00$ Ratio of Improvement Value 0.939849624Interest Rate 6.25%Term 25Payments/Year 12Periodic Payment 5,343.32$ Annual Debt Service 64,119.86$ Comments

Annual CostP&I 64,119.86$ Insurance 5,019.00$ $1.07 (sf/year Estimate)Taxes 17,932.97$ $3.81 (sf/year Estimate)Building Repairs 5,837.00$ $1.24 (sf/year Estimate)Snow Removal 710.00$ $0.15 (sf/year Estimate)Lawn Care 2,943.50$ $0.63 (sf/year Estimate)Janitorial 3,905.90$ $0.83 (sf/year Estimate)Utilities 9,032.43$ $1.92 (sf/year Estimate)Water & Sewer 1,183.37$ $0.25 (sf/year Estimate)Trash Removal 522.82$ $0.11 (sf/year Estimate)Security 644.67$ $0.14 (sf/year Estimate)Internet Services $912.00 $0.19 (sf/year Estimate)

$10.34 (sf/year Estimate)Total Cash Outflow 112,763.52$

Less equity build up 13,888.23$ (First year only-number increases in subsequent years)

TOTAL COSTBEFORE TAXES 98,875.30$

LESS TAX SAVINGSDepreciation 7,591.09$ (Assumes 39 year depreciation on improvements value at 35% tax bracket, State & Federal)Interest Deduction 17,581.07$ (First year only. Assumes 35% individual tax bracket, State & Federal)

NET COST TO OWN 73,703.13$ Annually6,141.93$ Monthly

15.66$ Per Square Foot Per Year

Disclosure: Sheldon-Gold Realty Inc is not licensed to give legal or tax advice.Assumptions here are for illustration purposes only and may not reflect your individual tax consequences.Please consult with your legal or tax advisors before purchasing.

ELB – 3780 S Broadway – Legal Descrip

Schedule A Legal Description

The land referred to in this policy is situated in the County of Arapahoe and the State of Colorado and is described as follows: Lots 13, 14, 15, 16, 17 and 18, Block 1, Wynetka Heights, and that part of the South ½ of the Northeast ¼ of Section 3, Township 5 South, Range 68 West of the 6th P.M., described as follows: Beginning at a point 790 feet North and 50 feet East of the Southwest corner of the South ½ of the Northeast ¼ of Section 3; thence North 50 feet; thence East 125 feet; thence South 50 feet; thence West 125 feet to the Point of Beginning. County of Arapahoe, State of Colorado a/k/a 3766 & 3780 S. Broadway, Englewood, Colorado 80113

ENGLEWOOD LAW BLDG., LLC a Ltd. Liability Company 3780 South Broadway Englewood, Colorado 80113-3612 Kent Jay Levine, Manager Phone: (303) 783-0994 Ronald R. Way, Manager

Exhibit E – Principal Replacements - ELB

July 30, 2018 Description: Repair/Install Vendor Date BASEMENT:

1. Rheem Hot Water Heater 40 gal mfg 3/05

2. Furnace (North) - Tappan John Duesing 07/05/03

3. Old Room Furnace (South) (Southwest Heating) 12/31/12

4. Telephone System (refurb) Applied Telephone 7/21/08

UPSTAIRS:

5. Upstairs Carpet Design Management 10/19/07

6. Lloyd’s Heater (Southwest Heating) 11/07/12

OUTSIDE:

7. Replace South Roof Lerew Brothers 4/20/1999

8. Prkg Lot: Resurface/New Pavement Betts Asphalt 05/24/01

9. Parking Lot: Seal Rocky Mtn Asphalt 09/27/08

10. Parking Lot: Seal & fill Don Edelen 11/5/15

11. Drip System (north) Rick Johnston 12/9/06

12. South Air Conditioner Southwest Heating 06/09/11

13. North Air Conditioner Southwest Heating 06/05/13

14. Landscape,drip clock,rock (Jay Peters) 05/23/13

15. Sprinkler System-New Clock (Scott Rogers) 08/12/15

16. Cages (Sprinkler Sys, Air Cond) Bill Smith, Jay Peters 7/21/08,11,13

17. Replace Breaker Box All Star Elec 04/22/16

18 Parking Lot: Seal Pro Grade Asphalt 09/30/17

Kent Jay Levine, P.C. 3780 South Broadway, Englewood, CO 80113; 303-783-0222 8/22/17 Page 1 of 7

KENT JAY LEVINE, P.C. Attorney and Counselor at Law Englewood Law Building 3780 South Broadway

Phone: (303) 783-0222 Englewood, Colorado 80113-3612 Fax (303) 484-2621 e-mail: kent@kent-law.com

August 22, 2017

MEMORANDUM TO: File – Prospective ELB Purchasers 8-22-17 FROM: Kent Levine DATE: August 22, 2017 RE: Building Disclosures – 3780 S Broadway, Englewood, CO 80113 1. Low Water Pressure on Broadway Englewood has not replaced and has

stated they will not replace the main water line

2. Galvanized Water lines It appears the south side/old part of building still has galvanized pipe which could lead to corrosion and reduced flow of water.

3. Hot Water Heater It takes some time for the water to come out warm at the faucets.

4. Tuck Pointing (south west corner) Tuck pointing has not been done 5. Outside peeling paint – South & East Needs new paint job on South and

part of East building 6. Basement water seepage The basement has had water

seepage in file storage. Sealant has been applied to part of the North Wall and floor. Drylok Fast Plug was applied to the East Wall.

7. Cast Iron Roof Drains have previously leaked

The seals around each of the roof drains were replaced.

8. Roof leakage Various spots were resurfaced due to some cracks that allowed water to leak from the roof.

Kent Jay Levine, P.C. 3780 South Broadway, Englewood, CO 80113; 303-783-0222 8/22/17 Page 2 of 7

9. Building vibrates some When heavy trucks or buses travel in the East lane going North on Broadway, there may be some vibration of the West Windows and some other parts of the Building.

10. Prior shifting of the building noticeable in the Reception area and Photo-Copy/Mail Room and in the main Front entrance the cement Steps in Front of the Building lean downward.

Prior to our purchase of the building we discovered that the prior tenant and owner did not shut the sprinkler system down nor drain the line (in front of the building) over the winter. This caused a break in the sprinkler system that previously went under the front of the building’s front steps at its base and the north brick “planter box”. We had this line cut off and disabled at the valve box. The base of the front steps was replaced, as were the steps to the north of the building from the parking lot to the street on Broadway. The sprinkler system and drip system should be properly shut down each Fall.

11. Conference Room vertical boards on the West wall have some buckling.

We had some of the boards replaced and could not find any water intrusion behind the boards.

12. Various cracks in the South wall (of the “old side”) have been present.

The cracks on the South wall have been present prior to our purchase. We did some cosmetic repair of a ceiling crack on the South office to the furthest East (by the alley). There are some cracks in the Front stair case going upstairs.

13. Removal of asbestos from the original heating ducts from the furnace to the South.

We had the South furnace replaced and at the same time added Central Air for the South portion of the building and removed visible asbestos around the heating ducts.

14. Offices furthest from the HVAC The offices furthest from the respective furnaces need supplemental heat. We have

Kent Jay Levine, P.C. 3780 South Broadway, Englewood, CO 80113; 303-783-0222 8/22/17 Page 3 of 7

furnished each of these offices with oil filled heaters (but have required that Only the “low” power switch be used). Air Conditioning (away from the HVAC unit) is also affected; e.g., Lloyd’s upstairs office, but his “window” air conditioning unit helps address this.

15. Electrical Outages. Apparently the corridor serving the Building has periodic but very brief flickering.

Each of the Tenants are encouraged to have a UPS (Uninterruptable Power Supply) to minimize any brief flickering. We had installed a new replacement Breaker Box to minimize any disruption of power.

16. Century Link has not upgraded the copper telephone lines.

The copper lines of Century Link are older and limits the speed of the Internet to maintain reliability. Repairs to the telephone lines have been made by Century Link to improve any disruption of the building’s “common lines” (1,2,3). We understand that Fiber has been installed to serve the Apartments on Kenyon and Broadway, but has not been extended South to the Building. We have additional service for broadband from Comcast to alleviate any overloading of the service from Century Link. Fortunately we have had very few outages, and in the rare cases there have been interruptions we have been able to change to the operative service until the disruption is rectified.

17. Broadband Protection. Each of the Tenants are encouraged to have protections in place for anti- virus protection and any separate hardware and settings to minimize data breaches, and other Data Security protections as part of their cyber protection against malware as

Kent Jay Levine, P.C. 3780 South Broadway, Englewood, CO 80113; 303-783-0222 8/22/17 Page 4 of 7

well as both on and off-site backups. Replacement of the routers with a commercial firewall and router allowing fail out switching in the event service of one ISP provider would fail to provide service is available. We previously had a SonicWall TZ210 and obtained the assistance of NRG to program and set up the SonicWall. When it failed we replaced it with a Netgear for Comcast to allow certain ports to open for VPN access. The Century Link is set to Bridge Mode relying on Century Link’s server to minimize malware and intrusions. This security could be made more robust by the purchase of a new SonicWall firewall – router as noted above.

18. Building Security is dependent on each of the Tenants, especially the last person leaving the Building to verify each of the 3 entrance doors are locked, including the respective Dead Bolts and to set the Burglar Alarm (ADT).

Training on how to set the alarm, set up the ADT pass codes, Memos and emails to the Tenants to assure the doors are locked, lights out (excepting leaving on the Entrance Way Light) and the Alarm is Turned On before the last person leaves the Building.

19. Common Exterior Key. The Back Exterior Door and the Side (North/handicap ramp Door) use the same Exterior Door key for the locks. If the key is lost the 4 locks should be re-keyed, re-mastered and individual Tenants’ keys replaced. The Front Door has a different key and lock and is accessed from inside the Building.

20. Carpet in common areas. Backing on the “glue down” carpet cannot be repaired, must be replaced.

Upstairs stairs and hallway were replaced. The other common area carpet has not been replaced.

21. Extra communication wiring in the Basement

There is communication wiring in the file storage area and old side

Kent Jay Levine, P.C. 3780 South Broadway, Englewood, CO 80113; 303-783-0222 8/22/17 Page 5 of 7

basement that has not been used. The telephone installer recommended not removing it as some of the wiring is used others are not. It apparently was used for dictating when a typing pool occupied the old side South portion of the building.

22. Waste water line between Men’s and Women’s Bathroom appears to have a crack/broken

The Men’s floor drain has been capped to avoid water into the waste water line, avoid floor drain back up and any waste water gases from coming into the bathroom from the line. The line runs under a concrete floor without access from the basement.

23. Sewer line between the alley and the building has a little low spot, but the plumber did not recommend its replacement.

We have had some backing up of the sewer line in the past. We have snaked/bladed the line every 1-3 years to keep the roots from interfering with the sewer line. Apparently the large pine tree on the South and between the Building and the alley can cause its roots to obstruct the sewer line unless the line is bladed periodically.

24. Men’s and Women’s toilet blockage. We have replaced all 4 toilets in the Building to make them be more ADA accessible or compliant and a larger opening to avoid the toilet blockage. While the replacements helped significantly, we also had the elbow in the sewer line in the basement changed from a 45º to a gentle 90º to minimize any toilet blockages when in normal use.

25. North side door. We replaced the North door from metal to an existing solid wood door. This significantly reduced the cold from outside. We have replaced the “closer” on the door to allow the door to gently close. Due

Kent Jay Levine, P.C. 3780 South Broadway, Englewood, CO 80113; 303-783-0222 8/22/17 Page 6 of 7

to the bottom portion of the door not having integrity, the bottom portion of the door was filled with “liquid nails” and the door sweep replaced to minimize air infiltration at the bottom of the door. The strike plate and Dead Bolt was adjusted to allow it to close and lock.

26. Englewood City Water has a poor taste.

While the water in Englewood may be safe, its taste has been less than stellar. We have installed a R/0 (Reverse Osmosis filter system) in addition to a filtered Hot/Cold water dispenser.

27. Brick Wall - North Flower Garden Drunk driver hit the brick wall to the North (flower garden). Wall facing Broadway was removed and new brick face was installed (2015)

28. Vandalism. In the early years (about 20 + years ago a theft occurred as the Building was left unlocked in the evening. Graffiti on the Trash Dumpster. Graffiti on the front Building sign. In approximately 2011 there was a theft of about 12” of copper pipe at the Air Conditioner; separately, in approximately 2008, the anti-syphon valve for the Sprinkler System was taken.

The Tenants are reminded to lock all doors, deadbolts and set the Alarm System. Following the theft we had an Alarm System installed. Tenants are to have insurance coverage on their own items as well. We contacted Waste Management to replace the Dumpster at no cost to us (or paint it; they replaced it). Graffiti on the sign was removed by using “goof off” or a similar product. One time the markings were carved into the sign, we had the sign refinished; this removed the carvings. We had “gates” or “covers” installed over the Sprinkler Anti-Syphon valves, outside water faucets, Air Conditioners to minimize vandalism and theft and to avoid submitting a claim to the

Kent Jay Levine, P.C. 3780 South Broadway, Englewood, CO 80113; 303-783-0222 8/22/17 Page 7 of 7

insurance company.

29 Telephone System Occasionally 1 line will ring in another’s office. Usually this solves itself. On a few occasions the system has been rebooted. An alternative is to have Applied Telephone come out if need be and trouble shoot/correct the problem, which has not occurred very often.