Norwest Corporation and Subsidiaries, Successor in Interest to United Banks of Colorado, Inc., and Subsidiaries, et al. - Page 12

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          Unable to acquire a site on Broadway (the intersection of                   
          Broadway and 17th Avenue, where 2UBC was located, was considered            
          the “100 percent corner” in the central business district of                
          Denver), the Bank decided to pursue the development of an office            
          tower on the Lincoln-Sherman block.  At that time, the Lincoln-             
          Sherman block was on the fringe of the central business district            
          and was considered to be a substantially less preferable location           
          than the Broadway-Lincoln block.  In the late 1970s, LBC acquired           
          land on the Lincoln-Sherman block adjacent to Motorbank I and               
          fronting on the corner of Lincoln Street and 17th Avenue in                 
          contemplation of the construction of a new headquarters building            
          on the site.                                                                
               The Board of Directors of UBD had a working committee called           
          the Directors' Facility Planning Committee (the Committee), which           
          initiated or approved all major decisions regarding the Bank's              
          real estate holdings.  The Committee was closely involved in the            
          planning of the new office tower project (the Project).                     
               In the late 1970s, Planning Dynamics Corp. (Planning                   
          Dynamics), was retained by the Bank as a consultant for the                 
          Project and was closely involved in the Project through 1986.               
               In 1979, the Gerald D. Hines Interests (the Developer) was             
          selected by the Bank as the developer for the Project.                      
               In 1979, the Bank and the Developer selected the firm of               
          Johnson-Burgee (the Architects) to be the architects for the                
          Project.                                                                    




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