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2003-11-12 Closing Statement11112f2003 10:24 FAX 6128046400 WINTHROP & WEINSTINE [2 001/016 WINTHROP WEINSTINE ATTORNEYS ANU COUN96LOAq Ar LAW Suite 3500 i 225 Aotah Sixth Street I Minneapolis. MN JW2 I Muin:012*4-6400 J Fax #P 12Ki04.6R00 j www.winthmp porn Jzi Projesriena/,iirocfailvn FACSIMILE COVER LETTER SENT TO: Linda Goeh FACSIMILE NO.: 763-497-3210 PHONE- 763497-3106 FILE NO: Cc Ann IIoffineyer 612-337-2471 DATE: November 12, 2003 SENT BY; Beth Gerstein Timm PHONE NO.: (612) 604.6569 MESSAGE: Dear Linda: Please find attached far your review the Closing Statement for Lot 2, Block 1, Albertville Crossing Sccond Addition evidencing the levied assessments that were paid at closing along with a copy of the Deed evidencing; who is in title on this Lot. Also enclosed is a Closing Statement for Lot 1, Block 1, Albertville grossing Second ,addition evidencing the special assessments paid at closing along with a copy or the Deed evidencing the conveyance oft4k. Lastly, enclosed is the Seller's Closing Statement .for Lots 1, 2 and 3, Albertville Crossing evidencing that no levied assessments were paid at closing along with a copy of the title policy evidencing that at the time of closing there were no levied assessments of record. I have also attaclx:c? the Deed for these Lots evidencing title in the property. Also for your information, Albert-vzllc 2003, LLC has been merged into Albertville 2002, LLC so it is now one entity, l have attached a copy of the Cettificatc of Merger for your information. After you have had an opportunity to review this please call me to discuss where the assessments have been applied to so we can re5oive this issue. Very truly yours, Beth G. Timm ORIGINAL WILL: Not be sent This communication consists of 16 pages, including this cover letter, If all pages are not received, please contact Seire E. Rutkowski at (612) 6044698. 20742S3v1 NOTICE CONFIDENTIAL INFORMATION The infbnration in this fax c ml-notilcutim is privileged and SVICtly cunnUcridal. It is tnvji&d Sd1Cly for the use 4 the individual Ur entity naytxxJ above. T dic ii;Mci, of this mussage k not lhC imndw reclpiC114 Or the erttpluyee ur 2901t MRIVASUe to deliver it to the intended recipient, any disiemination, dindliotion, copying or other use of the itifoninadon wwained in this cornmunivalion is titrietly prohibited. If you have received this communication in txrur. please ilrst notify the sender immediately ut the above kslcphom; numbcr of this erroneous roecipt and then return this riot co=untcoon at once to the sender at the Above uddirmi either via Unikd SUMS PoNial Service or by method of delivery specified by the somder. 11/12/2003 10:25 FAX 6126048400 Closing Date: Disbursement Date. BUYER: SELLER: Closing Agent: Closing Agent File No.: PROPERTY ADDRESS: WINTHROP 8 WEINSTINE G6 CONWERCIALPARTN RS i, T L f, L L e 200 SOUTH SIXTH STREET, SUITE 1300 MINNEAPOLIS, MN &W2 PHONE (012) 337 2470 FAX (612) 337-2471 SELLER'S CLOSING STATEMENT 12002/016 Purchase Price Earnest Mona {550,000.00 wl CPT Pro -rated Taxes from 1/1103 to i/151030$3.80/day x 15 days Assessments to: City of Albertville Assessments to: Wright County Treasurer Trunk Avallab)fi Charge to: EDA of Albertville DEBIT 57,00 60,287,98 68,509.50 7,216.00 CREDIT 622.560.40 Park Dedication Fee to; Ci of Albertville 8,950.00 Morta e Payoff to: 1st Nafl Bank of Elk River 21.381.36 Commission to: Equity Commercial 18676.80 Fee to: KTJ Ltd Ptshp 74 123,134,78 Closing Fee 1/2) to: Commercial Partners 150,00 Update Fee to: Commercial Partners 150.00 State Deed Tax to: Wright County Treasurer 2,054.44 Recording Fees 100.00 Survey Charges POC Legal Fees to: WinthroR & Weinstine 300,00 SUBTOTAL 310,967.96 622,560.00 CASH FROM SELLER CASH TO SELLER 311,592.04 TOTAL 622,560.00 Cs22,560,00 The above closing statement is hereby approved, and the closing agent is hereby authorized and directed to disburse the money as indicated herein and deliver instruments, documents and other other property, if any to the designated parties and otherwise close this transaction in accordance with the closing instructions. Cascade 11 Land Cc„ LLC ey: TalderUfi''N COMMERCIAL A,RTNERS TITLE, LLC 11/12/2003 10:25 FAX 6126048400 WINTHROP S WEINSTINE 12 003/016 Form No. 3-M — WARRANTY DEED Minnesota Uniform Conveyancing Blanks (1979) !Miller GCvivis Co., Minneapolis Individual (S) to Corporation Or Partnershp No delinquent taxes and transfer entared; Certificate of Real Estatc Value ( ) tiled ( ) not required Certificate of Real Estate Value No. ,20 County Auditor by:_ Deputy STATE DEED TAX DUE HEREON: $_,._ Date: __!@nuary i �--' , 2003 FOR VALUABLE CONSTDF.RATION, Cascade 11 Land Co,, LLC, a Minnesota limited liability company, Grantor, hereby conveys and warrants to Albertville 2003 LLC a Minnesota limited Ji4bilily company , Grantee, real property in Winger County, Minnesota, described as follows: Lot 2, Block 1, Albertville Crossing Second Addition (if nrne space is needed, Continue on back) together with all hercditamcnts and appurtenances belonging thereto, subject to the following exceptions set forth and listed on the attached Exhibit A and made a part hereof. Seller certifies that Seller knows of no wells on the property. Affix need Tax Stamp Here STATE OF MINNESOTA CASCADE' ll LAND CO., T.T.0 a Minnesota limited liability comTtany Marloryt. Glints Its: Chief Manager COUNTY OF k-t+'• vlt� c1,�1 ) The foregoing instrument was acknowledged before me this 1 k�" day of Jarniary, 2003, by Marlon F. Glines, the Chief Manager of Cascade 11 Land Co., LLC, Grantor(s). NOTARIAL STAMP OR SEAL (OR DTHER "rf1T.r OR RANK): SIGNA "or PERSON TAKING ACKNo1NLELIGMENT AI�N ��FA tf YtR� iti�,, i'd`'•'�4•": MtGrnai;��,'�.I`a;3' el,?""s 1y FyM�W,•r,r V•hAl+°. �te°tiV 1•.r'd wa�..WtL�1lV✓e'N Y Tax State""N for tte nui property dL-c4zd in N& in3 fwwnt should be sent to (Include rare and address of(inntre): Albertville 2003, LLC 264.77" Street Southeast Delano, Minnesota 55328 INSTRUMENT WAS DRAFTED BY (NAME AND ADDRESS)! Winthrop & Weinstine, P.A. (BGI) 3000 Dain Rauscher Plaza 60 South Sixth Street Minneapolis, MN 55402 (612) 347-0700 2(]0473 Rv l I11/12/2003 10.26 FAX 6126046400 WINTHROP & WEINSTINE 11Q04/01$ EXHIBIT A Real estate taxes due and payable in 2003 and thereafter, Rights of tenants, as tenants only, in possession under unrecorded leases. Drainage and Utility Basements as shown on the recorded plat or Albertville Crossing and .Albertville Crossing Second Addition. Terms and Conditions of Developer's / Planned Unit Development Agreement / Conditional Use Agreement dated April 30, 2002, filed May 3, 2002, as Document No, 789447. Terms and Conditions of and casements contained in Agreement Concerning Easements and Restrictions, dated April 30, 2002, filed May 3, 2002, as Document No. 789449, between KTJ Limited Partnership Seventy -Four and Cascade Il Land Co., LLC. Terms and Conditions of Memo filed October 2, 2002 as Document No. 809556. Declaration of Parking Easement dated December 3I, 2002 and filed of record. Building and zoning laws, ordinances, state and federal regulations. Reservation of mineral rights by the State of Minnesota, 2004738vi 11/12/2003 10:27 FAX 6126048400 WINTHROP & WEINSTINE (RO05/016 Closing Date; Disbursement pate: BUYER SELLER: Closing Agent: Closing Agent Fite No.: PROPERTY ADDRESS: CJMMERCIALPAWNERS 7 I i L e, 1 L C- 200 SOUTH SIXTH STREET, SUITE 1300 MINNEAPOLIS, AIN 55402 PHONE (012) 337-2470 FAX (612) 337-2471 SELLER'S CLOSING STATEMENT 20521 Lot 1, Block 1, Albertville Crossing Second Addition, Wright County, MN DEBIT CREDIT Purchase Price 71,874 S ft x $0.001s ft 574 992.D0 Earnest Mone $50,000.00 w/ CPT Pro -rated Taxes from 1/1/03 to 3/31103 0$4.17/dgy x 89 days 371.13 Balance of Assessments to: City of Albertville road imp) 27 840.77 Balance of Assessments to: City of Albertville (road imp) 27,840.77 Assessments Certified to 2003 Property Tax 63,274.97 Park Dedication Fee to; City of Albertville 11,550.00 Trunk Availebili Fee to: M of Albertville POC Cornmission/Broker Fee to; Equit Commercial Services 17 249.76 Fee to: KTJ Limited Partnership 74 114,998.40 Mtge Payment for Ptl Release to: lot National Bank 50,000.00 Closing Fee 112 to, Commercial Partners 300.00 State Deed Tax to: Wright County Treasurer 1,697.47 Recording Fees 50.00 Survey Char es POC _ Legal Feast Document Pre to: Winthrop& Weinstine 400.00 SUBTOTAL 315,773.27 674,992.00 CASH FROM SELLER CASH TO SELLER 259,218.73 TOTAL 574,992.00 674,092.00 Tho above closing statement is hereby approved, and the closing agent Is hereby authorized and directed to disburse the money as Indicated herein and deliver instruments, documents and other other property, if any to the designatod parties and otherwise close this transaction in accordance with the closing instructions. Cascade 11 Land Co., LLC By: Tax identification N . 41-1919684 COMMERCIAL PARTNERS TITLE, LLG 11/12/2003 10'27 FAX 6126046400 . .r ir, rm Na. J%:M — WARRANTY DEED Individual (s) to Corparadon or WINTHROP & WEINSTINE Wrineseio UnAW Conveyancing ®lank.+ (1978) :ent taxes and transfer entered, Certifx atc of Zeal Estate Value (f/� filed ( ) n t regtured Certificate l of ^ Real Estate Value Na© County Auditor STATE DEED TAX DUE HEREON., $! l • (- r Date: A TJ IS+ 2003 006/016 Milks D vis Co.. MimeapoW .* ' . ..*1 03 APR -2 PM 2, 49 CR0. OCR !�#L t47&0" Jt ID/7- for FOR VALUABLE CONSWERATION, Cascade II Land Co., LLC, a Minnesota limited liability company, Grantor, hereby conveys and warrants to Albertville 2003, LLC. a Minnesota limited liability_ company Grantee, real property in Wright County, Minnesota, described as follows: Lot 1, Block 1, Albertville Crossing Setmnd Addition (if mac space is needed, continue on buck) together with all hereditaments and appuurteenances belonging thereto, subject to the fallowing exceptions set forth and listed on the attached Exhibit A and made a part hereof. Seller certifies that Seller knows of no wells on the property. Affix Deed Tax Stamp Here CASCADE 11 LAND CO., LLC a Minnesota limited liability company Countv of WritTht 11/12/2003 10:28 FAX 6126046400 WINTHROP S WEINSTINE [2007/016 EXHIBIT A Real estate taxes due and payable in 2003 and thcreaiier. Rights or claims of tenants, as tenants only, in possession under 1111 eorded leases. Drainage and Utility Basements as shown on the recorded Flat ol`Albcrtville Crossing and Albertville Crossing Second Addition. Terms and Conditions of Developer's/Planned 1lnit Developmem Agreement/Conditional Use Agreement dated April 30, 2002, filed May 3, 2002, as Document No. 789447. Terms and Conditions of'Developer's Agreement dated November 2, 1999, filed November 9, I999, as document No. 694771. Terms and Conditions of Developer's,JPla►used unit Development Agreement/Conditional Use Agreement (Albertville Crossing Second Addition) filed December 31, 2002, as Document No. 824396. Declaration of Parking Easement dated December 10, 2002, filed January 22, 2003, as Document No. 828387, Building and zoning laws, ordinances, state and federal regulations. 11/12/2003 10:26 FAN 6126046400 WINTHROP $ WEINSTINE 12 000/016 Closing Date: Disbursement Date: BUYER: SELLER: Closing Agent: Closing Agent File No.: PROPERTY ADDRESS: COMMERCIALPAWNERS T I T l E, L L 6 200 South Sixth Street, Ste 1300 MINNEAPOLIS, MN 56402 PHONE (612) 337-2470 FAX (612) 337-2471 SELLER'S CLOSING STATEMENT 20248 Lots 1 2 and 3, Albertville Crossing, Wright County, Minnesota DEBIT CREDIT Purchase Price 5,182 678.00 Mortgage Payoff to: Union Bank & Trust Company 3,116 053.37 Nate Payoff to: Cascade II Land Co 704 365.00 Commission to Equity Commercial for $35,216.25 Cascade Interest from 4130/02 to 9/17/02 M$164.381day x 170 days 26,244.80 ClosingFee 1/2 to: Commercial Partners 400.00 Commitment Fee to: Commercial partners 435.00 State Deed Tax to: Wright Countt Treasurer 17,102.84 Recording Fees 200.00 Le al Fees Fab anske Westra & Hart 61006.10 Draw to- Shin obee Construction 363,618.59 Draw to. Rice Building Systems 376,885.00 Architect Fee to: HOR Architects 687.16 Architect Fee to: Wolf ram Knutson 300.00 Overhead Charge to: Oppidan, Inc. 93,750.00 SUBTOTAL 4,706,047.66 5,182,678.00 CASH FROM SELLER CASH TO SELLER 476,630.34 TOTAL 5,192,678,00 5182,678,00 The above closing statement is hereby approved, and the closing agent is hereby authorized and directed to disburse the money as indicated herein and deliver instruments, documents and other other property, If any to the designated parties and otherwise close this transaction in accordance with the closing Instructions. KTJ ,Limited Partnership Seventy -Four By: Tax Identification No. r,_ :p-G11.7'i-_7 COMMER AL PARTNERS TITLE, LLC ­$y. 11/12/2003 10:28 FAX 6126046400 WINTHROP & WEINSTINE id 009/016 Chicago Title Insurance Company OWNERS POLICY SCHEDULE A OFFICE FILE NUMBER POLICY NUMBER DATE OF POLICY AMOUNT OF INSURANCE 20248 1. Name of Insured: Albertville 2002, LLC, a Minnesota limited liablity company 2. The estate or interest in the land which is covered by this policy is: Fee Simple 3. Title to the estate or interest in the land is vested in the insured. 4. The land herein described is encumbered by the following mortgage or trust deed, and assignments_ Combination Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Financing dated , filed _ , as Document No. , executed by Albertville 2002, LLC, a Minnesota limited liability company, as mortgagor, to Union Bank & Trust Company, a Nebraska state banking corporation, as mortgagee, in the original principal amount of $7,945,831,00. and the mortgages or trust deeds, if any, shown in Schedule B hereof. 5, The land referred to in this policy is described as follows: Lot 1, 2, and 3, indusive, Block 1, Albertville Crossing, Wright County, Minnesota. Abstract Property ALTA Owner's Schedule A (10/17192) This Policy valid only if Schedule B is altached. 120248 PFD12D248/65) 1. Name of Insured: Albertville 2002, LLC, a Minnesota limited liablity company 2. The estate or interest in the land which is covered by this policy is: Fee Simple 3. Title to the estate or interest in the land is vested in the insured. 4. The land herein described is encumbered by the following mortgage or trust deed, and assignments_ Combination Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Financing dated , filed _ , as Document No. , executed by Albertville 2002, LLC, a Minnesota limited liability company, as mortgagor, to Union Bank & Trust Company, a Nebraska state banking corporation, as mortgagee, in the original principal amount of $7,945,831,00. and the mortgages or trust deeds, if any, shown in Schedule B hereof. 5, The land referred to in this policy is described as follows: Lot 1, 2, and 3, indusive, Block 1, Albertville Crossing, Wright County, Minnesota. Abstract Property ALTA Owner's Schedule A (10/17192) This Policy valid only if Schedule B is altached. 120248 PFD12D248/65) 11/12/2003 10 29 FAN 8128046400 WINTHROP & WEINSTINE a 010/016 Chicago Title Insurance Company OWNERS POLICY SCHEDULE B EXCEPTIONS FROM COVERAGE Office File No. 20248 Poficy Number! PROFORMA This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: A Real estate taxes payable in 2003 and thereafter. B.ALevied or pending assessments of record, 119mort, 2. Rights or claims of tenants, as tenants only, in possession under unrecorded leases. 3. Terms and conditions of Developer's Agreement, dated November 2, 1999, filed November 9, 1999, as Document No, 594771. 4. Drainage and utility easements as contained in the plat of Albertville Crossing, 5. Terms and conditions of DevelopeeslPlanned Unit Development Agreement/Conditional Use Agreement, dated April 30, 2002, filed May 3, 2002, as Document No. 7139447, 0, Terms and conditions of and easements contained in Declaratior. Concerning Easements, Covenants and Restrictions, dated April 30, 2002, filed May 3, 2002, as Document No. 789448, executed by KTJ Limited Partnership Seventy -Four. 7. Terms and conditions of and easements contained in Agreement Concerning Easements and Restrictions, dated April 30, 2002, filed May 3, 2002, as Document No. 78W9, between KTJ Limited Partnership Seventy -Four and Cascade it Land Co., LLC, First Amendment to Agreemant Concerning Easements and Restrictions dated , filed as Document No. 8, Any lien, or right to a lien, for services labor or materi;ii r `fufurnished, imposed by law and not shown by the public records.aA , 9. Terms and conditions of Lease dated April 30, 2D42, as identified in Memorandum of Lease dated April 30, 2002, flied May 3, 2002, as Document No. 789453, by and between KTJ Limited Partne rshlpfe Seventy -Four, as Landlord, and Coborn's, Incorporated, as Ter nt. ✓ Assignment of Landlord's interest to Albertville, 2002, LLC byesslgnment ated _-____�, filed , as Document No. Subordination, Nondisturbance and Attomment Agreement dated _ _, filed 10' as Document No. between Union Bank & Trust Company, Coborn's Incorporated and Albertville 2002, LLC. r 11/12/2000 10 30 FAX 8126048400 WINTHROP 6 WEINSTINE [Rol 1/016 CHICAGO TITI,E INSURANCE COMPANY OWNERS POLICY SCHEDULE B (continued) Otf oe File No. 20240 Policy Number: PROFORMA 10. Assignment of Rents dated , filed as Document No. .r executed by Albertville 2002, LLC, as assignor to Union Bank & Trust Company, as assignee. 1 i forma policy reflects a status of record which is anticipated to exls; at time of issuance and does ct the present record title. t l . - A C- C,, r,- Issuing Agent: Commercial Partners Title, LLC 200 South 5th Street, Suite 1300 Minneapolis, MN 55402 (612)337-2470 Ccuntersigned Authorized Signatory ALTA OwnerVLeasehold Owner's Schedule 8 (10f17)92) (20240 PFO12024B164) 11/12/2003 10.30 FAX 612600400 WINTHROP 8 WEINSTINE ? 012/018 WARRANTY DEED State Deed Taut Due Hereon: S Date: September S 002 FOR VALUABLE CONSIDERATION, KTJ Limited Partnership Seventy -Four, a Minnesota limited partnership ("Grtuitor"), conveys and warrants to Albertville 2002, 1L,LC, a Minnesota limited liability company, that certain Teal property located in Wright County, Minnesota which is legally described on the Exhibit "A" attached to this Deed (the "Property"), together with all hereditaments and appurtenances belonging thereto, subject to the encumbrances described on the Exhibit " B" attached to this Deed. Grantor ecrtifies that it does not know of any wells on, or any individual sewage treatment systems on or serving, the Property. KTJ Ll M ITED PARTNERSHIP SEVENTY-FOUR, a Minnesota limited partnership By: OPPIDAN, INCORPORATED, a Minnesota corporation Its: General Palmer Michael T. Ayres Its: Chief Operating fficer N:U1LIPRR1205954.d . 11/12/2003 10.31 FAX 612600400 WINTHROP $ WEINSTINE I? 013/016 STATE OF MINNESOTA ) ) ss. COUNTY OF HENNEPIN ) The foregoing it,simment was acknowledged before me this day of SeptembeT, 2002, by Michael T. Ayres, the Chief Operating Officer of Oppidan, Incorporated, a Minnesota corporation, which corporation is the general partner of KTJ Limited Partnership Sevcnty-Four, a Minnesota limited partnership, on behalf of the limited partnership. �1bwWyy,�,A■ � ANN S. HOF'F:iVEYEFi N070y :oLf:•'`NN'r_SOTA �)?ub1iC — r fi Noty DRAFTED BY: Tax statements for ftperty should be sent to grantcc at: Fabyanske, Westm & Haut, F.A. (GCE) Albertville 2002, LLC Suite 1100 264 — 77th Street Southeast 920 Second Avenue South Delano, Minnesota 55328 Minneapolis, Minnesota 55402 (612)338-0115 NMVPM705934.due 2 11/12/2003 10 32 FAN 8126046400 WINTHROP $ WEINSTINE IRD 14/016 Exhibit "A" Legal i3escriviion Lots 1, 2 and 3, Block 1, Albertville Crossing, Wright County, Minnesota MPIAPRR12D5934.6oc 11/12/2000 10:32 FAX G12GO48400 WINTHROP $ WEINSTINE z 015/016 Exhibit "W' Permitted EncuMbmces l . Real estate taxes payable in 2003 and thereafter. 2. Levied and pending assessments of record, if any. 3. Drainage and utility easements shown on the recorded plat. 4. Any rights, interests or claims of parties in possession of any portion of the Property under unrecorded leases. 5. Matters that would be disclosed by an accurate survey of the Properly. 6. Teams and conditions of Developer's Agreement, dated November 2, 1999, filed November 8, 1999, as Document No, 694771. 6. Terms and conditions of the DevelopeesTlanned Unit Development Agreeme~nt\Conditional Use Agreement dated April 30, 2002, filed May 3, 2002, as Document No. 789447. 7. Terms and conditions of and easements contained in Declaration Concerning Easements, Covenants and Restrictions dated April 30, 2002, filed May 3, 2002, as Document No. 789448. S. Terms and condition of and easements contained in Agreement Concerning Easements and Restrictions dated April 30, 2002, filed May 3, 2002, as Document No. 789449; as amended by that certain First Amendment to Agreement Concerning Easements and Rmtrictions dated September _, 2002, filed September _,, 2002, as Document No. 9. Terms and conditions contained in Lease dated April 30, 2002, as identified in Memorandum of Lease dated April 30, 2002, filed May 3, 2002, as Document No. 789453; as amended by that certain First Amendment to Memorandum of Lease dated September _, 2002, Pled September _, 2002, as Document No. Vile I\VoI11PUPRA1205954.doc T T 11/12/2003 10'33 FAX 6126046400 WINTHROP $ WEINSTINE [2016/016 �,$te of Minnesat� SECRETARY OF STATE CERTMCATE OF MERGER I, Mary Kiffateyer, Secretary of State of Minnesota, keeper of the Great Seal of the State and custodian of the documents pertaining to businesses governed by the laws of this State; do hereby certify that: the ctttities listed below have merged under the provisions of Minnesota law and have designated the surviving entity listed below, 1 further certify that the merger documents were filed on acid are eftaetivc on the dates listed below. I further certify that the ability of the non -surviving participating entities to do business ceased as of the effective date of the merger. PARTICIPATING ENTITIES: MN: ALBERTVILLE 2003, LLC MN: ALBERTVILLE 2002, LLC STATE OF FORMATION AND NAME OF SURVING ENTITY: MN: ALBERTVII.LF. 2002, LLC FILING DATE: 11/4/2003 EFFECTIVE DATE OF MERGER: 11/4/2003 NAME, OF SURVINC. ENTITY AFTER EFFECTIVE DATE OF MERGER: 2002, LLC 11/4/2003