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AGO FIAT. RES. SECTION Fax:3038663558 Jan 29 '98 10:lA P. 10 <br /> JAN 28 '98 02'-38PM P17KIN COUNTY ADMIN P.9 <br /> thse:matte's—that is,three interest calculation(s),and more Spe fficaIlv: <br /> (1) Whether interest for the tax year 1990 for Schedule No.R007863(then <br /> IM7363)should be at the rate of 1290 per Annum or the rate of 1.5% per annum(hereinafter <br /> "Reservied Issue #10, see attached•Sent m_er Stipu3 Ex ibit Cell f'10r +23,500.80): <br /> (2) Whether interest calculations for tax years 1991-96 shouldbe at the ra'•e <br /> r:f 12%, per a11t•rxn or the rate of 15% per annum (hereinafter "Reserved Issue #r, 5.2 <br /> attached 5=1CMgnL StJJ IAt9MZ it cell P21,$13,371.09); and <br /> (3) Whether uttersstfor the month of sale or endorsement maybe charged <br /> twic,2,rmce for the sale or endorsement calculation(from the detinquuencv date until the <br /> ixxonth ni die or endorsement)and aon for the post-salelendorsementinterest calc�alatfc n <br /> (the m(7rtth of sale/endorsement until paid or redeemed) (hereinafter"Reserved Issue V), <br /> see xt tarhed Settlement Stivula t U � it.i cell K26,$2,779.81 if at 12`1�interest,or cell N2�, <br /> $3,474.71) if at 1.5% interest).The taxes included on page 6,TV"l"and"rr.", are calculated <br /> with u1:�rest for month of sale or endorsement charged only once as delinquent intere-t- <br /> 'T These issues shall be reserved by the County and MM not settled by this Stipulation,and <br /> subject to further proceedings in this action.The amounts and calculations involved in*e <br /> reserved issues are illustrated in the attached S <br /> t • - captioned <br /> "Rev;;ed. Settlement Stipulation Exhibit Between Pitkin County and Mid-Continalt <br /> REsnur�.es, Inc., Calculation of Disputed Amounts of Interest, Schedule No. R007863, <br /> ty_ o:1,i"Tax Sale Certificate 01991-0231,Calculated Through October 31,1W. <br /> q. But for the reserved issues,all claims by the County and all counterclain;s <br /> �-y MCR against the County shall be di.4missed by these parties,and the County and Ni CR <br /> snail bear their respective costs and attorney fees in connection with this litigation. <br /> Now,,MERWORE,it is STWUL.ATED A'-40 AGREED: <br /> 1. . U funds held by Stewart Title as escrow agent shall be paid to the County. <br /> The County %halt apply such funds, first, to unpaid, accrued interest and then unpaid <br /> prixEdpal on Tax Schedule No. P004062 and, second, to unpaid principal and accrued <br /> on Tax Schedule No. R007869,in that order. <br /> •2, Application of Stewart Title escrow funds will leave a short-fall on Tjw <br /> Schedule ' -)) R007863 of$54,051•86 as of October 31,1997.This short-fall shall, as further <br /> adjusted lay stipulated accrued interest on taxes owed and by interest earned on the Stewart <br /> Title esc ow,be paid from proceeds derived from the pending sale of an 83.79 acre parcel <br /> i'axk sale) from the se-called Prep-Plant Site. This short fall,shall accrue interest <br /> moni,N v at the rate Of 125o per annum from creation until paid; this interest rate is -n <br /> ;vu•x%To.97 Cv 131-3 -8- rqr.J N-MCR S8'I'rl t mmw gTnn:tAT1C-K <br />