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PAOVANTAGE LAW GROUF <br />LYDIA S. LUI <br />(612) 353-1313 office <br />lydia.lu i@va ntage.law <br />February 11, 2021 <br />VIA U.S. MAIL AND EMAIL <br />City Administrator <br />City of Ramsey <br />7550 Sunwood Drive N.W. <br />Ramsey, MN 55303 <br />Email: kulrich@cityoframsey.com <br />Re: Title and survey objections relating to the purchase and sale of real property <br />pursuant to that certain Purchase Agreement effective October 27, 2020 (as <br />amended, the "Purchase Agreement") between the City of Ramsey ("Seller") and <br />U.S. Home Corporation ("Buyer") <br />Dear Mr. Ulrich: <br />We have received and reviewed the title insurance commitment identified as Commitment No. <br />57835, with a commitment date of August 27, 2020 (the "Commitment"), issued by Commercial <br />Partners Title, LLC, as agent for Old Republic National Title Insurance Company (the "Title <br />Company"), relating to certain real property located in Anoka County, Minnesota (as more <br />particularly described in the Purchase Agreement, the "Property"). We have also received and <br />reviewed an ALTA/NSPS land title survey of the Property dated February 8, 2021, prepared by <br />Mark A. Schwanz for ISG, Inc. (the "Survey"). <br />On behalf of the Buyer, and pursuant to Section 6(b) of the Purchase Agreement, we hereby <br />make the following comments and objections to title and survey. The numbering of our <br />objections and comments corresponds to the Commitment. We ask the Title Company to use the <br />following comments to generate a pro forma owner's policy. <br />I. OBJECTIONS AND COMMENTS REGARDING THE COMMITMENT <br />SCHEDULE A: <br />1. The effective date of the Buyer's final title policy (the "Final Policy") must be the date <br />and time of the recording of the insured deed (with full gap coverage). We reserve the <br />right to make further objections and comments for any matters that arise after the date of <br />the Commitment or upon any further modification of the Commitment. <br />2. The amount of insurance issued in the Final Policy will be the purchase price paid at <br />closing. <br />{00260705 2} <br />125 SE Main Street • Suite 250 • Minneapolis, MN 55414 <br />VANTAGELAWGROUP.COM <br />