Agenda - Council - 04/11/2017 - Laserfiche WebLink

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ISSUED BY COMMERCIAL PARTNERS TITLE, LLC AS AGENT FOR CHICAGO TITLE INSURANCE COMPANY COMMITMENT NUMBER 52156 SCHEDULE B - PART II EXCEPTIONS The policy or policies to be issued will include exceptions to the following unless they are disposed of to the satisfaction of the Company. 1. Defects, liens encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this commitment. 2. Rights or claims of parties in possession not shown by the public records. 3. Any encroachment, encumbrance, violation, variation or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. 4. Easements or claims of easements not shown by the public records. 5. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 6. Taxes or special assessments which are not shown as existing liens by the public records. 7. General and special taxes and assessments as hereafter listed, if any(all amounts shown being exclusive of interest, penalties and costs): A. Real estate taxes payable in 2016 are $38,490.07 and are paid. Base tax$35,001.14 Property Identification No. 34-32-25-14-0027 NOTE: There are no delinquent taxes of record. B. There are no levied or pending assessments of record. 8. Rights or claims of tenants, as tenants only, in possession under unrecorded leases. 9. Combination Mortgage, Security Agreement and Fixture Financing Statement dated October 28, 2002, filed October 29, 2002, as Document No. 1724908, executed by Vanak, LLC, a Minnesota limited liability company, mortgagor, in favor of Northeast Bank, a Minnesota corporation, mortgagee, to secure the original principal amount of$2,504,970.00. As modified by Mortgage and Assignment Modification Agreement dated December 10, 2008, filed December 15, 2008, as Document No. 2004433.004. As further modified by Mortgage Modification Agreement dated December 26, 2013, filed January 7, 2014, as Document No. 2075750.001. As further modified by Mortgage Modification Agreement dated March 26, 2016, filed April 14, 2016, as Document No. 2134453.001. ALTA Commitment 52156 Schedule B-Part 11 (6-17-06)