2007-03-30 Title Insurance.~
Tri-County Abstract and. Title Guaranty, Inc.
representmg
Chicago Title Insurance Company
Commitment Number: 87639C REV.1
SCHEDULE A
1. Commitment Date: March 30, 2007 at 08:00 AM
2. Policy (or Policies) to be issued:
(a) Owner's Policy (ALTA Own. Policy (10/17/92) )
Proposed Insured:
(b) Loan Policy
Proposed Insured:
(c)
Proposed Insured:
(ALTA Loan Policy (10/17/92) )
Amount
3. Fee Simple interest in the land described in this Commitment is owned, at the Commitment Date, by:
Blaine Rentals, LLC, a Minnesota limited liability company
4. The land referred to in this Commitment is described as follows:
State of Minnesota
Wright County
Lots One (1) and. Two (2), Block One (1), FIELD PLAZA SECOND ADDITION, according to the plat and
survey thereof on file and of record in the Office of the County Recorder in and for Wright County,
Minnesota.
TO BE PLATTED OUT OF:
Lot One (1), Block One (1 ), FIELD PLAZA, according to the plat and survey thereof on file and of record
in the Office of the County Recorder in and for Wright County, Minnesota.
(Abstract Property)
ALTA Commitment Valid Dnly if Schedule B is
Schedule A (10/17/92) Attached
(87639C.PFD/87639C/11)
Chicago Title Insurance Company
Commitment Number: 87639C REV.1
SCHEDULE B -SECTION I
REQUIREMENTS
The following requirements must be met:
a. Documents satisfactory to us creating the interest in the land and/or the mortgage to be insured must be
signed, delivered and recorded.
b. You must tell us in writing the name of anyone not referred to in this Commitment who will get an interest in
the land or who will make a loan on the land. We may then make additional requirements and exceptions.
c. We require that standard form of affidavit, or affidavits, be furnished to us at closing.
d. NOTE: The following is not part of Schedule B, and is shown for information only. This will not be included
on the final policy.
Please be advised that the Tax Reform Act of 1986 requires the following information be provided at
closing:
A. Tax Identification Number or Social Security Number;
B. Full address after the closing.
e. Matters between the effective date of the commitment and the date of recording (known as gap coverage)
and mechanic's lien issues are not covered by any policy to be issued, unless. closed by Tri-County
Abstract & Title Guaranty, Inc. Please contact Tri-County Abstract & Title Guaranty, Inc. for further
instructions to ensure proper coverage is given if Tri-County Abstract & Title Guaranty, Inc. is not the
closing agent.
f. In the event that there is to be a construction loan, please notify Tri-County Abstract & Title Guaranty, Inc.,
to ensure the proper requirements are met.
g. NOTE: The following is not part of Schedule B, and is shown for information only. This will not be included
on the final policy.
The property is commonly known as: xxx Albertville MN 55301.
h. This commitment is for platting purposes only and should only be used for obtaining plat approval from
Wright County.
Obtain and file of record a confinement of Declaration of Restrictions and Covenants for Site Specific
Wetland Replacement dated 08/25/2005, filed of record 11/03/2005, as document number 984968, by and
between State of Minnesota and Hunters Development, LLC, a Minnesota limited liability company.
The above document was filed on the whole of Section 36, Township 121, Range 24, Wright County,
Minnesota.
Obtain original copies of the Easements for Sanitary Sewer and Storm Sewer and record with the County.
k. Obtain and file of record the Plat of FIELD PLAZA SECOND ADDITION.
Taxes due and payable in the year of recording must be paid in full prior to recording said plat.
ALTA Commitment
Schedule B - Section I (10/17/92) (87639C.PFD/87639C/11)
Chicago Title Insurance Company
Commitment Number: 87639C REV.1
SCHEDULE B -SECTION II
EXCEPTIONS
Any policy we issue will have the following exceptions unless they are taken care of to our satisfaction.
a. If an owner's policy is to be issued, the mortgage encumbrance, if any, created as part of the purchase
transaction.
b. 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.
c. Rights or claims of parties in possession not shown by the public records.
d. Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an
accurate survey and inspection of the premises.
e. Easements or claims of easements not shown by the public records.
f. 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.
g. Taxes or special assessments which are not shown as existing liens by the public records.
h. Any charges for municipal services (i.e., water, sewer, correction of nuisance conditions, etc.) are the
responsibility of the parties to this transaction. For information regarding the existence of any such bills,
contact the appropriate municipal office.
i. General and special taxes and assessments as hereafter listed, if any (all amounts shown being exclusive
of interest, penalties and costs):
Real estate taxes payable in 2007 in the amount of $ 71,140.00, are unpaid. Parcel No.(s):
101.108.001010. Non-Homestead.
j. Levied assessments as follows:
Street/Utility $50,574.37 with $21,241.24 certified to 2007.
Street/Utility $50,574.37 with $21,241.24 certified to 2007.
There are no pending assessments.
k. Reservation of all minerals and mineral rights by the State of Minnesota.
I. Public right of way as shown in Wright County Highway Right of Way Plat No. 30 and document numbers
643687 and 632226.
m. Drainage and Utility easements as shown on the recorded plat of FIELD PLAZA AND FIELD PLAZA
SECOND ADDITION.
n. Any documents filed in connection with the Plat of FIELD PLAZA SECOND ADDITION.
ALTA Commitment
Schedule B -Section II (10/17/92) (87639C.PFD/87639C/11)
SCHEDULE B -SECTION II
EXCEPTIONS
(Continued)
Commitment Number: 87639C REV.1
o. Terms and conditions of Minnesota Wetland Conservation Act, Declaration of Restrictions and Covenants
for Site Specific Wetland Replacement, dated 08/25/2005, filed of record 11/03/2005, as document number
984968.
The above document was filed on the whole of Section 36, Township 121, Range 24, Wright County,
Minnesota.
p. Terms and conditions of Development Agreement, dated 10/10/2005, filed of record 10/27/2005, as
document number 983936.
q. Mortgage dated 06/17/2005, filed of record 06/28/2005, as document number 965205, executed by Blaine
Rentals, LLC, in favor of BankVista, in the original principal amount of $1,386,500.00.
There is a subordination agreement dated 09/30/2005, filed 10/27/2005 as document number 983937, in
which the above mortgage is subordinated to that certain Developers Agreement recorded as document
number 983936.
r. Mortgage dated 06/17/2005, filed of record 06/28/2005, as document number 965206, executed by Blaine
Rentals, LLC, in favor of BankVista, in the original principal amount of $761,500.00.
There is a subordination agreement dated 09/30/2005, filed 10/27/2005 as document number 983937, in
which the above mortgage. is subordinated to that certain Developers Agreement recorded as document
number 983936.
s. A UCC Fixture Financing Statement has been filed in the office of the County Recorder in and for Wright
County, State of Minnesota, on the 28th day of June, 2005, as Document Number 965207, under the
provisions of the U.C.C. Debtor name is Blaine Rentals, LLC, and the Secured Party is BankVista.
ALTA Commitment
Schedule B -Section II (10/17/92) (87639C.PFD/87639C/11)