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OWNER-USER OPPORTUNITY HISTORIC OLD STONE CHURCH

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OWNER-USEROPPORTUNITYHISTORIC OLD STONE CHURCH COTTAGE & LOT157 NW Franklin & 514 NW Harriman Bend OR3 TAX LOTS, 2 BUILDINGS Parcel 1: Existing 4,800 /- SF historic church buildingParcel 2: Parking lot behind church buildingParcel 3: Existing 698 /- SF cottage on 0.14 ac lotPRIOR DEED RESTRICTIONS LIMITING USE HAVE BEEN REMOVEDContact listing broker Brian Fratzke or Dan Steelhammer for additional informationand to schedule a showing.Offered at 1,590,000Brian Fratzke, CCIM, Principalbrian@fratcommercial.com O 541.306.4948 C 541.480.2526Dan Steelhammer, Brokerdan@fratcommercial.com O 541.306.4948 C 541.480.5756

NOTICESWith You Every Square Foot of the Way.963 SW Simpson Ave., Suite 220 Bend, OR 97702541.306.4948 www. fratzkecommercial.comBrian Fratzke, CCIM brian@fratcommercial.comNick Vaughn, Broker nick@fratcommercial.comTom Tapia, CCIM tom@fratcommercial.comDan Steelhammer, Broker dan@fratcommercial.comCollier Ehlers, Broker collier@fratcommercial.comChris Cochran, Director of Property Management chris@fratcommercial.comKristine Parker, Office Manager kristine@fratcommercial.comDISCLAIMER: This information is from sources we deem reliable, but for which we assume noliability. This is an exclusive listing. The information contained herein is given in confidence withthe understanding that all negotiations pertaining to this property be handled through FratzkeCommercial Real Estate. All measurements are approximate.

TABLE OF CONTENTS1. PROPERTY SUMMARY & HISTORY2. PROPERTY DETAILS3. FURNITURE, FIXTURES & EQUIPMENT4. FINANCIALS5. THE PROPERTY: AERIALS6. PROPERTY PHOTOS7. REMOVAL OF DEED RESTRICTIONS8. AREA INFORMATION

PROPERTYSUMMARY & HISTORYPRICE: 1,590,000ZONING: CG - Commercial GeneralTotal acreage of all 3 parcels: Approximately 0.50 acresPARCEL 1: 4,800 /- SF church buildingPARCEL 2: Lot behind parcel 1PARCEL 3: 698 /- SF cottagePROPERTY HISTORYThe Old Stone Church is in the Old Town Historic District in Bend. The property is designated by City asHistoric. Originally known as the First Presbyterian Church it was built in 1912. At the time Bend was part ofCrook County. Deschutes County was formed from the western half of Crook County in 1916. The firstservice of the First Presbyterians was held in the nearly completed church in 1913. In the beginning thechurch was actually referred to as the stone church because it was the first church in Bend made out ofstone. The tuff stone came from the Bend Company Rock Quarry on the west side of the Deschutes River.Various church groups owned the property until 2006. At that point with a change to private ownership there-invention of the Old Stone as both a church venue and event venue began. Uses were gradually expandedto include music concerts, public presentations, film, fundraisers, graduations and other community events.Many local people stepped up to develop the new Old Stone Performing Arts Center. It has currently beendedicated to hosting and producing events that enrich the cultural vitality of the community by serving itsartistic and educational needs.The Old Stone Church Events Center will cease operations at the end of 2017. The cottage is leased throughMarch of 2018 for 950/mo.

PROPERTY DETAILSRecent Property ImprovementsCHURCH: Installation of Altar Café (bar)-Current OLCC licensed to serve beer & wine-Current county health permit providing minimum food requirements Installation 1600 sq ft white oak dance floor Extensive electrical service and circuitry upgrades in 2016, including 3-service panels, electrical capacityto support full performing arts center, expo events, bar, food carts outside Heating system upgrades: new furnace and A/C upgrades Plumbing system upgrades to meet compliance reqts of City of Bend and Deschutes County, also tosupport Altar Café installation, restroom fixture upgrades Sound system upgrades Fully repainted interior and exterior Lighting - LED retro-fits approximately 90% completed Installation of new exterior lighting system Upgrades to automatic irrigation systemACCESSABILITY & ADA: Restrooms are in basement and not ADA compliant (grandfathered; historic building) Recent building upgrades and use changes require a parking lot accessibility upgrade New sidewalk on Franklin to meet ADA standards ADA accessibility parking addedCOTTAGE: New roof and insulation, fully remodeled bathroom with new fixtures, plumbing upgrades, small utilityroom addition (washer & dryer), new kitchen appliances, new gas water heater, fully repainted interiorand exterior

FF & EOLD STONE EQUIPMENT, NON-ATTACHED FIXTURES AND OTHER PROPERTYNote: All equipment, fixtures and property listed are 100% owned by Old Stone Church LLC and included inthe sale price.Main Hall and Stage Area Metal locking sound cabinet (west wall of stage) – Eurorack Pro RX1202FX MIXER, Peavy amplifier, Surgeprotector, cordless mic, lapel mic and wire mics 2 EAW main PA sound system speakers Assorted music stands, mic stands, other electrical components 159 upholstered chairs (oak) Folding tables – (5) 4’ dia. rounds, (3) 30” x 8’, (1) 30” x 6’, (1) 30” x 5’, (1) 18” x 6’ 7 stand-up bistro tables 4 posts with “rope dividers” 3 small side tables Floor lectern on wheels 2 step ladders - 6’ & 8’ Locking cabinet #1 (paper supplies, plastic cups, LED candles, etc.) Locking cabinet #2 (10 fitted black tablecloths, other misc. table cloths) Locking cabinet #3 (SAC’s stuff to be removed) Locking cabinet #4 (AV Panasonic Projector, 3500 Lumens, Model#PTFW300U with hard case, extensioncords, power strips, etc. 1 small piano stool, 2 bar stools, 1 tall chair, 1 red sturdy “bench” seat 1 room screen divider Stage drapings Small wooden cabinet on wheels Crows nest – 4 folding chairs and card tableAltar Cafe Large Kegerator – Continental Model KC69, 69” wide, 26 cubic feet on casters Commercial dishwasher – Jackson Avenger LT Low Temperature (1) 10 cubic foot frig; Frigidaire w/freezer 1 small under the counter Danby frig Long wood table with metal legs Magic Chef Microwave Accessories – glassware, pitchers, vase, metal ice containers, water container, etc. Barstool “Altar cabinet” against east wall next to cafeMain Floor - Small Office Printer 2 file cabinets Router Church and Cottage keys

FF & EMain Floor - Maintenance Closet Meile commercial vacuum cleaner Sanitaire heavy duty vacuum cleaner Cleaning supplies, brooms, paintUpstairs - Green Room/Conference Room (2) 30” x 6’ Folding Tables 10 striped fabric arm chairs 1 room screen divider 1 collapsible coat rack 1 grey cabinet 50 tan folding chairsAttic 10 charcoal folding chairs Approx. 35 oak chairs, chair parts, green cushions Christmas decorations, lumber, misc.Downstairs 1 small frig (1) 2.0 cubic ft. countertop stainless steel microwave 3 coat racks 3 chairs 1 room screen divider Carpet shampooerRental Cottage GE range and refrigerator (purchased new in 2016) Washer/DryerOutside Storage Behind Cottage 2 step ladders - 10’ and 14’Misc. Wall Pictures & Hangings 1 framed 1913 historic photo of church, jazz art (4 framed by café), approx. 30 framed Old Stone eventposters in downstairs hallway, other assorted framed pictures and wall hangingsOld Stone “Digital Assets” Website - oldstonebend.com Facebook – oldstonebend (1792 likes, 190 photos, 19 reviews/4.9 star) Twitter - @OldStoneBend Mailchimp Email Marketing List – 1475 Subscribers Google Suite - oldstonebend

FINANCIALSTaxes:Total Property Taxes for 3 tax lots July 1, 2016 to June 30, 2017: 7,516.66157 NW Franklin Avenue - 5,684.37 (2016-2017 was 5,420.73)514 NW Harriman Street - 2,197.80 (2016-2017 was 2,095.93)Current Property Leases:1.514 Harriman Cottage (Parcel 3): Rental Lease: 950/mo rent; lease ends 3/31/2018Tenant pays all utility charges except for electricity and garbage paid by Landlord.Current Old Stone Church Use:Approximately 112K in capital improvements were made during 2015-2016 to support re-purposing theproperty to a Performing Arts Center. The newly branded venue formally went public in the spring of 2016.Gross operating revenue during the first 12-month start-up period was approximately 100K. Operating expenses during the same period were approximately 120K.

TAX MAP/AERIALS

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REMOVAL OF DEEDRESTRICTIONS

REMOVAL OF DEEDRESTRICTIONS

Central Oregon Profile Courtesy of EDCO

Commercial dishwasher – Jackson Avenger LT Low Temperature (1) 10 cubic foot frig; Frigidaire w/freezer 1 small under the counter Danby frig Long wood table with metal legs Magic Chef Microwave Accessories – glassware, pitche