Agenda - Economic Development Authority - 06/02/2016

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OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY Commitment for Title Insurance SCHEDULE B-L Requirements ......................- ._. Commitment Date: November 19, 2015 6:00 p.m. File No.: 1605780 The following requirements must be complied with: 1. Pay the agreed amounts for the interest in the land and/or according to the mortgage to be insured. 2. You must tell us in writing the name of anyone not referred to in this Commitment who will get an interest in the land, or who will make a loan on the land. We may make additional requirements or make addition exceptions. 3. Documents satisfactory to us creating the interest in the land and/or the mortgage to be insured must be signed, delivered, and duly recorded: a) THIS SUPPLEMENTAL COMMITMENT SUPERSEDES AND REPLACES ANY PREVIOUS TITLE COMMITMENT ISSUED BY TITLE ONE, INC. UNDER FILE NO. 1505780. Revision date 12/14/15 pas b) No open mortgage is currently showing on the tract for the subject property. c) Discharge of Lis Pendens, dated February 28, 2006 and filed February 28, 2006 as document no(s). 1982472.003, by City of Ramsey, a Minnesota Municipal corporation, Plaintiff(s),versus K.I.H. Erecting Co., a Minnesota Corporation; County of Anoka; all other parties unknown, et al., Defendant(s) and a discharge filed in District Court. d) A copy of the resolution by The Housing And Redevelopment Authority in and for the City of Ramsey, a Municipal Corporation under the laws of the State of Minnesota authorizing the sale of the land. a NOTE: Slaninn Authority must be provided for any person executing any purchase agreements, conveyances and closing documents . f) Warranty Deed from The Housing And Redevelopment Authority in and for the City of Ramsey, a Municipal Corporation under the laws of the State of Minnesota, to TBD. NOTE: Title One, Inc. requires the legal description to be exhibited on this deed. g) Title One, Inc. requires that the Individual attending closing on behalf of The Housing And Redevelopment Authority in and for the City of Ramsey, a municipal corporation under the laws of the State of Minnesota execute an affidavit of corporate status identifying their position within the entity. The affidavit would affirm that said entity is a duly organized and validly existing entity in good standing under the laws of the State of Minnesota and has full power and legal authority to do business in the State of Minnesota. Additional exceptions andlor requirements may follow based upon a review of these documents. h) This examination was made from the County Records without the benefit of the abstract of title, which was not submitted to us. Title One, Inc.will not be responsible for the cost of obtaining or replacing an abstract of title to the insured premises. i) Note: Transfers of record are not clear as to whether there is a well or whether a well disclosure was filed. Closer to verify status of wells on property and include well certificate if necessary. j) Closer to complete recheck, prior to closing, of Special Assessments and also verify that there are no unpaid water/utility charges on the subject property. k) THE FOLLOWING DOCUMENTS ARE REQUIRED AT CLOSING: Standard Affidavit Regarding Sellers and Buyers, Certificate of Real Estate Value, 1099-S, and Well Certificate or appropriate OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY SCHEDULE B-1 Date Printed: 12.14.2015 This Commitment is invalid,unless the Insuring Provisions ALTA Commitment 2006 Form Date Updated: Schedule A,Schedule B-1 and Schedule B-11 are attached. File No.: 1505780 (does not alter the"commitment date")