Agenda - Council - 03/09/2021 - Laserfiche WebLink

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City of Ramsey February 11, 2021 Page 2 3-4. The Final Policy should state that title to the fee simple estate is vested in Buyer. We require that Seller take all steps necessary to cause record fee title to be placed in Buyer at closing. 5. The legal description in the deed, Final Policy, and Survey must be identical. SCHEDULE B — SECTION ONE: To the extent applicable to Seller, Seller must satisfy all requirements prior to closing, including but not limited to: (a) terminating any and all leases affecting the Property, if any; and (b) providing all organizational and authorizing documentation as required by the Title Company. SCHEDULE B — SECTION TWO: Items 1-6: (Standard/General Exceptions). Comment: Pursuant to the Purchase Agreement, Seller must provide an owner's affidavit in form sufficient and acceptable to the Title Company so as to allow it to delete these exceptions from the Final Policy. These exceptions must be deleted from the Final Policy. Item 7: (Assessments and Real Estate Taxes). Comment: This exception must be modified on the Final Policy. Real estate taxes and special assessments due and payable as of the date of closing must be paid at closing in accordance with the Purchase Agreement. The Final Policy must insure that all taxes due and payable as of closing have been paid and shall state that there are no levied, pending or deferred taxes or special assessments and no delinquent taxes. Item 8 Item 9: Item 10: (Rights of tenants). Comment: Buyer objects to this exception and requires it be deleted from the Final Policy. (Ordinance No. 86-11, Doc. No. 784944). Comment: Buyer requires that Seller provide further information regarding any obligations, assessments, costs or fees allocated to the Property pursuant to this exception. Buyer reserves the right to make additional comments or objections upon receipt of such further information. (Development Contract, Doc. Nos. 2022343.005, 2160375.002). Comment: Buyer objects to this exception and requires that Seller provide a recordable certificate of completion and release so that the Title Company can delete this exception from the Final Policy. Item 11: (Storm Water Treatment and Ponding Maintenance Agreement, Doc. No. 2022343.008). Comment: Buyer requires that Seller provide further information {00260705 2}