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29. "State"shall mean the State of Minnesota. <br /> 30. "Survey"means an updated ALTA/ACSM survey of the Property prepared by a surveyor <br /> acceptable to Buyer in its sole discretion. <br /> 31. "Title Commitment"means a commitment for an ALTA Owner's Policy of Title Insurance <br /> insuring fee simple title to the Property in the amount of the Purchase Price,which shall(i) <br /> commit the Title Company to insure fee simple title to the Property subject only to the <br /> Permitted Encumbrances, (ii) so long as Buyer obtains the Survey, affirmatively insure <br /> Buyer against any and all encroachments or mechanic's liens not of record, (iii) provide <br /> that the Title Company will increase its coverage at any time to reflect increase in the <br /> property values and /or improvements being made to the Property, upon payment to the <br /> Title Company of a standard policy premium for the amount of the increased insurance <br /> coverage; and (iv)provide that the Property is zoned properly for Buyer's intended use of <br /> the Property and that the Property is in compliance with all applicable zoning requirements. <br /> 32. "Title Company"shall mean Commercial Partners Title LLC,200 South Sixth Street, Suite <br /> 1300, Minneapolis, MN 55402, or such other title insurance company as Buyer may select <br /> in its reasonable discretion. <br /> 33. "Title Evidence" shall mean the Title Commitment and the Survey,together. <br /> 34. "Title Objections" shall have the meaning assigned to such term in Section 5.2 of this <br /> Agreement. <br /> B. Notices. Notices, as provided in this Agreement, shall be given to the parties at the <br /> following addresses, or such other address as any of the parties may reasonably notify the other <br /> parties of in accordance with this Agreement: <br /> If to Buyer: Aeon Portfolio 11 LLC <br /> 901 North Third Street, #150 <br /> Minneapolis, MN 55401 <br /> Attention: James Lehnhoff <br /> email: jlehnhoff@aeommn.org <br /> Phone Number: (612) 746-0528 <br /> With a copy to: Faegre Baker Daniels LLP <br /> 90 South Seventh Street, Suite 2200 <br /> Minneapolis, Minnesota 55402 <br /> Attention: Angela Christy <br /> email: angela.christy@faegrebd.com <br /> Phone Number: (612) 766-7000 <br /> If to Seller: City of Ramsey <br /> 7550 Sunwood Drive NW Ramsey, Minnesota 55303 <br /> Attention: Patrick Brama <br /> US.106153450.02 <br />