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ISSUED BY
<br />COMMERCIAL PARTNERS TITLE, LLC
<br />AS AGENT FOR
<br />OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
<br />COMMITMENT NUMBER 31695
<br />SCHEDULE B - Part II - EXCEPTIONS
<br />(Continued)
<br />Real estate taxes payable in 2008 are $211,147.46 and are unpaid.
<br />Base tax $1,935.68 Property Identification No. 28-32-25-13-0033 (Outlot A, Ramsey Town Center 7th
<br />Addition)
<br />Delinquent taxes for real estate taxes payable in 2006, 2007 and 2008 in the amount of $251,019.17
<br />through March 31, 2009, plus additional penalty, costs and interest after that date.
<br />Real estate taxes payable In 2008 are $74,319.11 and are unpaid.
<br />Base tax $707.49 Property Identification No. 28-32-25-13-0034 (Outlot B, Ramsey Town Center 7th
<br />Addition)
<br />Delinquent taxes for real estate taxes payable in 2006, 2007 and 2008 in the amount of $88,296.58
<br />through March 31, 2009, plus additional penalty, costs and interest after that date.
<br />Real estate taxes payable in 2008 are $24,672.43 and are unpaid.
<br />Base tax $2,374.17 Property Identification No. 28-32-25-31-0013 (Lot 2, Block 1, Ramsey Town Center
<br />5th Addition)
<br />Delinquent taxes for real estate taxes payable in 2007 and 2008 in the amount of $31,355.06 through
<br />March 31, 2009, plus additional penalty, costs and interest after that date.
<br />NOTE: Figures for real estate taxes payable in 2009 are not yet available.
<br />B. Levied or pending assessments of record, if any.
<br />8. Rights or claims of tenants, as tenants only, in possession under unrecorded leases.
<br />9. Terms and conditions of Master Development Agreement dated September 17, 2003, filed September
<br />24, 2003, as Document No. 446333 (Torrens) and as Document No. 1854364 (Abstract).
<br />First Amendment to Master Agreement dated February 28, 2005, filed March 9, 2005, as Document No.
<br />482049.001 (Torrens) and as Document No, 1973508.001 (Abstract).
<br />Terms and conditions of Parkland and Trail Plan Agreement, dated February 28, 2005, filed March 16,
<br />2005, as Document No. 482124.003 (Torrens).
<br />10. Terms and conditions of Allocation Agreement for the Master Development Agreement for Ramsey
<br />Town Center dated December 22, 2004, filed February 23, 2005, as Document No. 481898.006
<br />(Torrens), by and between Ramsey Town Center LLC, Ramdance LLC and the City of Ramsey.
<br />11, Terms and conditions of Allocation Agreement dated December 16, 2003, filed January 22, 2004, as
<br />Document No. 457481 (Torrens) and as Document No. 1891854 (Abstract) by and between Ramsey
<br />Town Center LLC, D.R. Horton Inc. - Minnesota and the City of Ramsey. Partial Release dated June 15,
<br />ALTA Commitment
<br />Schedule B (6-17-06) (31695.pfd/31695/150)
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