1996-07-02 Title Insurance
American Land Title Association Commitment - 1966
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COMMITMENT FOR TITLE INSURANCE
ISSUED BY
Sanc!ity of Contraet
STEWART TITLE
GUARANTY COMPANY
STEWART TITLE GUARANTY COMPANYf,A Texas Corporatlrnn, herein called the Company, for a valuable
consideration, hereby commits to issue its p~l.icy or policies of .Ville insurance, as identified in Schedule A, in
favor of the proposed Insured named in Sche'Qule A, as owner qrmortgagee of the estate or interest covered
hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor;
all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof.
This Commitment shall be
policy or policies committed for
of the issuance of this
Insured and the amount of the
the Company, either at the time
This Commitment is preliminary
and obligations hereunder shall
policy or policies committed for shall
or policies is not the fault of the
of title insurance and all liability
effective date hereof or when the
that the failure to issue such policy
Signed under seal for the
authorized Countersignature.
be valid or binding until it bears an
IN WITNESS WHEREOF, Stewart
hereunto affixed by its duly authorized
its corporate name and seal to be
Schedule A.
~#tc/~~
. President
Countersigned by:
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Aul1lorizedSignatory j
cWRIGHT TITLe GUARANTEE CO
ompany P.O. BOX 315 .
109 SOUTH SECOND STREET
cityMeFALO, MINNESOTA 55313
005 - UN - Rev. 3/78
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CONDITIONS AND STIPULATIONS
1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other
security instrument.
2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance,
adverse claim or other matter affecting the estate or interest or mortgage thereon covered
by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose
such knowledge to the Company in writing, the Company shall be relieved from liability
for any loss or damage resulting from any act of reliance hereon to the extent the Company
is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose
such knowledge to the Company, or if the Company otherwise acquires actual knowledge
of any such defect, lien, encumbrance, adverse claim or other matter, the Company at
its option may amend Schedule B of this Commitment accordingly, but such amendment
shall not relieve the Company from liability previously incurred pursuant to paragraph 3
of these Conditions and Stipulations.
3. Liability of the Company under this Commitment shall be only to the named proposed
Insured and such parties included under the definition of Insured in the form of policy or
policies committed for and only for actual loss incurred in reliance hereon in undertaking
in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions
shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon
covered by this Commitment. In no event shall such liability exceed the amount stated
in Schedule A for the policy or policies committed for and such liability is subject to the
insuring provisions, the Conditions and Stipulations, and the Exclusions from Coverage
of the form of policy or policies committed for in favor of the proposed Insured which are
hereby incorporated by reference and are made a part of this Commitment except as
expressly modified herein.
4. Any action or actions or rights of action that the proposed Insured may have or may bring
against the Company arising out of the status of the title to the estate or interest or the
status of the mortgage thereon covered by this Commitment must be based on and are
subject to the provisions of this Commitment.
STE~ART TITLE
GUARANTY COMPANY
All notices required to be given the Company and any statement in writing required to be
furnished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252.
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SCHEDULE A
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Commitment No.: 95080033
ABSTRACT PROPERTY
Effective Date:
Prepared For:
July 02/ 1996 at 8:00 a.m.
City of Albertville
Inquiries should be directed to:
Wright Title Guarantee Company
Buffalo: 682-2023 Metro: 477-6312
Elk River: 441-5465
Monticello: 295-6567 Metro 332-7102
1. Policy or Policies to be issued:
Amount
(a) XXX ALTA Owner/s Policy
$
Proposed Insured:
City of Albertville
(b) ____ ALTA Loan Policy
Proposed Insured:/
2. The estate or interest in the land described or referred to in this
Commitment and covered herein is a Fee Simple.
3. Title to said estate or interest in said land is at the effective
date hereof vested in:
Kenco Construction/ Inc./ a Minnesota Corporation.
4. The land referred to in this Commitment is located in the County of
Wright/ State of Minnesota/ and described as follows:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
Property known as:/ Albertville/ MN 55301
STEWART TITLE
GUARANTY COMPANY
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SCHEDULE B
Commitment No. 95080033
Schedule B of the policy or policies to be issued will contain
exceptions to the following matters unless the same are disposed
of to the satisfaction of the Company:
1. 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.
2. STANDARD EXCEPTIONS:
a) Facts which would be disclosed by a comprehensive survey
of the premises herein described.
b) Rights and claims of parties in possession.
c) Mechanics', Contractors' or Materialmen's liens and lien
claims, if any, where no notice thereof appears of record.
SPECIAL EXCEPTIONS:
3. Taxes payable in 1996 in the amount of $4389.06 are half paid.
1995 and prior years are paid in full. Tax I.D. No.
101-500-021400 (homestead)
4. Special Assessments.
NOTE: A special assessment search was not requested.
5. Easement for County Road No. 19 over the Easterly 67.29 feet, more
or less, of the insured property.
6. Subject to a County Ditch as travelled through the insured
property.
7. Mortgage given by Kenco Construction, Inc., a Minnesota
Corporation to Roman J. Becker and Donna Mae Becker, husband and
wife, to secure $500,000.00, dated August 29, 1995, filed for
record August 30, 1995, as Document No. 578002.
NOTE: If this mortgage is not satisfied at the time the plat is
recorded, the mortgagees should join in the Plat dedication.
8. If you should have any questions regarding this Commitment, please
contact Linda Opsal at 682-2023 or 477-6312.
STEWART TITLE
GUARANTY COMPANY