ADJACENT TO THE UNIVERSITY OF COLORADO AT COLORADO SPRINGS

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1 OFF-CAMPUS DEVELOPMENT OPPORTUNITY 5 & 7 CRAGMOR VILLAGE ROAD COLORADO SPRINGS, CO ADJACENT TO THE UNIVERSITY OF COLORADO AT COLORADO SPRINGS PURCHASE PRICE $1,800,000 EST. LAND AREA 64,000 square feet DIMENSIONS Approx. 200 x 320 PARCEL NO. 5 Cragmor Village Road Cragmor Village Road ZONING DISTANCE TO CAMPUS TRAFFIC COUNT R HS (City of Colorado Springs) The City of Colorado Springs has shown an interest in re-zoning to higher density or special use. 400 yards +/- to the Core Campus (a 5-minute walk) Austin Bluffs Pkwy at Stanton Rd: 37,745 VPD (2012) Exclusively Presented By: OFF-CAMPUS DEVELOPMENT OPPORTUNITY 5 & 7 Cragmor Village Road Colorado Springs, Colorado JAROD PATE Broker (Main) (Direct) jarod@depaulreig.com This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

2 The subject property is a development parcel of approximately 200 x 320 located between the Core Campus and the East Campus at University of Colorado Springs at Colorado Springs (UCCS). The UCCS Campus has grown 19% since 2009 to over 11,200 students on campus in Fall 2015 a record-high enrollment. The campus is projected to grow another 17% by 2020 driven by strong academic programs in engineering and applied sciences, nursing and health sciences, public affairs, business and education. Potential uses for the subject property are student housing, office space, structure parking, and limited service hospitality. STUDENT BODY/STAFF CU COLORADO SPRINGS Number of Students Enrolled for Fall ,299 Students off Campus (Online) 2,000 Students on Campus 11,299 Number of Graduate Students 1,553 Faculty 1,457 DEMOGRAPHICS 1 MILE 3 MILES 5 MILES 2020 Population 7,467 99, , Estimate 7,005 93, ,603 Growth % 6.97% 6.86% 2015 Average HH Income $63,333 $67,601 $71,269 Businesses 440 6,719 17,391 UCCS Economic Impact for State s Economy $450 Million Daytime Population 4,340 62, ,120

3 RE: 5 & 7 Cragmor Village Road Colorado Springs, Colorado Dear Sir or Madam: You have expressed interest in a potential transaction (the "Transaction") whereby ("Potential Buyer") would purchase from Owner of Record, ( Owner ) that certain real property located at 5 & 7 Cragmor Village Road, Colorado Springs, Colorado (the "Property"). In connection with the Potential Transaction but subject to the Potential Buyer's agreements as set forth herein, the identity and terms of agreements between Owner and third parties ("Third Parties") will be provided to Potential Buyer and the Potential Buyer will be provided with certain information and materials pertaining to the Third Parties financial condition and other matters related to the Third Parties business. In furtherance thereof, it is necessary that the Potential Buyer execute below, acknowledging its agreement to comply with the following terms and conditions regarding the confidential nature of these discussions and negotiations and all of the materials and information to be provided to Potential Buyer in furtherance thereof. Specifically, it is hereby agreed that all materials and information provided to Potential Buyer shall be used by Potential Buyer solely for the purpose of evaluating the Transaction and not in any way directly or indirectly detrimental to the Owner or the Third Parties or in competition with the Owner or the Third Parties and, such materials and information, including without limitation, all financial information concerning the Owner, the Property or the Third Parties, shall be kept and maintained in the strictest confidence by Potential Buyer and its agents, employees, representatives and advisors and shall not be disclosed, verbally or in writing, to any other person or entity either now or at any time in the future, except that Potential Buyer may disclose the materials or applicable portions thereof to those of its directors, officers and employees and representatives of its advisors who need to know such information for the purpose of evaluating such transaction (it being understood that those other persons will be informed of the confidential nature of the materials and will agree, in writing, to be bound by this agreement and not to disclose the information to any other individuals). Without limiting the generality of any of the foregoing, Potential Buyer, for itself and its affiliates and their respective agents, employees, consultants, attorneys, and brokers shall keep and maintain in strict confidence all terms and conditions regarding the Transaction, including all financial, business and proprietary information regarding the Owner, Property or Third Parties, and shall not disclose the same to any other person or entity except as expressly provided herein. In the event a definitive purchase agreement for the Property is not executed and/or a transaction is not consummated for any reason whatsoever, all materials provided to you (and a copies thereof made by you) will be returned to Owner. The confidentiality obligations set forth herein shall survive for a period of twenty years from the date hereof. Potential Buyer, for itself and its agents, employees and advisors further agrees that it shall not contact, directly or indirectly, any governmental agency having jurisdiction with respect to the Property nor any of the Third Parties or other occupant of the Property, nor any lender of the Property, in any way with respect to this potential Transaction without the prior written consent of Owner, which consent may be withheld unless and until a definitive contract for the purchase and sale of the Property is negotiated, executed and delivered, and thereafter such consent may be reasonably conditioned by Owner to effectuate the intent of these confidentiality provisions. This Agreement and the terms and provisions hereof may be enforced by Owner notwithstanding that its identity is not disclosed herein and that it is not a party hereto. In the event of any breach of any of the terms, covenants or conditions contained herein, the prevailing party shall be entitled to recover its costs and reasonable attorneys fees incurred in enforcing and protecting its rights hereunder. Page 1

4 Please sign below on a copy of this letter, acknowledging your receipt and agreement to the terms and conditions hereof and return to me at your soonest convenience in order that we can deliver to you the various documents and materials related hereto. Very truly yours, Jarod Pate cc: Owner of Record Accepted and agreed to this day of, PLEASE COMPLETE ALL OF THE INFORMATION BELOW. FAILURE TO DO SO COULD DELAY DELIVERY OF REQUESTED PACKAGE. PURCHASER/ADVISOR: Company: Contact: Signature: Title: Date: Address: CO-OPERATING BROKER: Company: Contact: Signature: Title: Date: Address: Phone: Fax: Address: Phone: Fax: Address: Please fax and/or to: Jarod Pate at jarod@depaulreig.com DIFFERENT BROKERAGE RELATIONSHIPS ARE AVAILABLE WHICH INCLUDE SELLER AGENCY, BUYER AGENCY OR TRANSACTION- BROKERAGE. Page 2

5 BROKER DISCLOSURE BUYER DEFINITIONS OF WORKING RELATIONSHIPS Seller s Agent: A seller s agent works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller. The seller s agent must disclose to potential buyers all adverse material facts actually known by the seller s agent about the property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller. Buyer s Agent: A buyer s agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer. The buyer s agent must disclose to potential sellers all adverse material facts actually known by the buyer s agent, including the buyer s financial ability to perform the terms of the transaction and, if a residential property, whether the buyer intends to occupy the property. A separate written buyer agency agreement is required which sets forth the duties and obligations of the broker and the buyer. Transaction-Broker: A transaction-broker assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction, without being an agent or advocate for any of the parties. A transactionbroker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer s financial ability to perform the terms of the transaction and, if a residential property, whether the buyer intends to occupy the property. No written agreement is required. Customer: A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party s agent or as the party s transaction-broker. RELATIONSHIP BETWEEN BROKER AND BUYER Broker and Buyer referenced below have NOT entered into a buyer agency agreement. The working relationship specified below is for a specific property described as: Off-Campus Development Opportunity 5 & 7 Cragmor Village Road, Colorado Springs, Colorado Buyer understands that Buyer shall not be liable for Broker s acts or omissions that have not been approved, directed, or ratified by Buyer. CHECK ONE BOX ONLY: Multiple-Person Firm. Broker, referenced below, is designated by Brokerage Firm to serve as Broker. If more than one individual is so designated, then references in this document to Broker shall include all persons so designated, including substitute or additional brokers. The brokerage relationship exists only with Broker and does not extend to the employing broker, Brokerage Firm or to any other brokers employed or engaged by Brokerage Firm who are not so designated. One-Person Firm. If Broker is a real estate brokerage firm with only one licensed natural person, then any references to Broker or Brokerage Firm mean both the licensed natural person and brokerage firm who shall serve as Broker. CHECK ONE BOX ONLY: Customer. Broker is the seller s agent and Buyer is a customer. Broker, as seller s agent, intends to perform the following lists of tasks: Show a property Prepare and Convey written offers, counteroffers and agreements to amend or extend the contract. Broker is not the agent of Buyer. Page 3

6 Customer for Broker s Listings Transaction-Brokerage for Other Properties: When Broker is the seller s agent, Buyer is a customer. When Broker is not the seller s agent, Broker is the transaction-broker assisting in the transaction. Broker is not the agent of Buyer. Transaction-Brokerage Only: Broker is a transaction-broker assisting in the transaction. Broker is not the agent of Buyer. Buyer consents to Broker s disclosure of Buyer s confidential information to the supervising broker or designee for the purpose of proper supervision, provided such supervising broker or designee shall not further disclose such information without consent of Buyer, or use such information to the detriment of Buyer. DISCLOSURE OF SETTLEMENT SERVICE COSTS. Buyer acknowledges that costs, quality, and extent of service vary between different settlement service providers (e.g. attorneys, lenders, inspectors and title companies). BUYER/TENANT ACKNOWLEDGMENT: Buyer/Tenant acknowledges receipt of this document on. Buyer/Tenant Buyer/Tenant BROKER ACKNOWLEDGMENT: On, Broker provided (Buyer/Tenant) with a copy of this document to via and retained a copy for Broker s records. Brokerage Firm s Name: Broker Jarod Pate Page 4