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HomeMy WebLinkAbout2512Form No. 9-M -- WARRANTY DEED Corporation or Partnership to Corporation or Partnership Minnesota "Uniform Conveyancing Blanks (1978) Miller -Davis Co., St. Paul No delinquent taxe nd ansfer entered; Certificate of Real Estate Value ( - ) filed ( ) not required Certificate of Real Estate Value No. cc�t.rR PATRICK H. O'CONNOR NW- t ' r FES 13 1993 County Auditor Deputy k i 13FE89815 =11 C6!3, 51006-54 \ACV $4 51, 13FEB9815 =11 05,850064 CON $5 00 ,bob N V 1; ,FEB9815:11 11'61350064 Cln $15 ill.; STATE DEED TAX DUE HEREON:. 166.CD (reserved for recording data) FOR VALUABLE CONSIDERATION, Christ C Lee & Sons, Inc._ , a Corporation under the laws of Minnesota , Grantor, hereby conveys and warrants to Housing and Redevelopment Authority of Edina, Minnesota , Grantee, a public body corporate and politic under the laws of Minnesota , real property in Hennepin County, Minnesota, described as follows: The East 52 feet of the Southerly 150 feet of the North one -half (N1 /2) of Lot 36, Auditor's Subdivision No. 172, Hennepin County, Minnesota. /�- o.,?S=a4 / /--6o3�/­ The Seller /Grantor certifies that the Seller /Grantor does not know of any wells on the described real property. (if more space is needed, continue on back) together with all hereditaments and appurtenances b�ionging thereto, subject to u)e foilowing exceptions: 1. Laws, rules, regulations and ordinances of any government entity having jurisdiction over the Property. 2. Taxes and installments of special assessments payable following the date hereof. 3. Reservations of any mineral rights by the State of Minnesota. Affix Deed Tax Stamp Here STATE OF MINNESOTA SS. COUNTY OF HENNEPIN Christ C. Lee & Sons, Inc. _ By 44L Its ent Lo Its The foregoing was acknowledged before me this –,, <nA_ day of t y. _ _ , 19_x. by Ames L L= __ / the President of — hris eP & ins. Inc.___ __, a _______ -_ — Corporation _ under the laws of Minnesota _ , on behalf of the ^ -___ Cur orp ation__._______..____,__. r • ROBERT P. LAUE NOTARY uJBLIC- MINNESOTA ' HENi' PIN COUNTY ��•• MY Commissa,; Expires Jan 31 2000 THIS .INSTRUMENT WAS DRAFTED BY (NAME AND ADDRESS): Snelling, Christensen & Laue, P.A. 5101 Vernon Avenue South, Suite 400 Edina, Minnesota 55436 Phone: (612) 927 -8855 SiCvla]URE0,PEKS- 'CAKING ACKNOWLEDGMENT Tax Statements for the real property described in this instrument should be sent to (include name and address of Grantee): Housing & Redevelopment Authority of Edina, Minnesota 4801 West 50th Edina, MN 55424 02/13/98 1 55PM 0004 9655 5 HENN. /JSW DEEDTs $765.00 Pf41D $765.00 ;-5-Id^ ,o4 ,1P� r 0 k l'� :i lr- r vyl� DORS EY & WHITNEY L L P MINNEAPOLIS WASHINGTON, D.C. LONDON BRUSSELS HONG KONG DES MOINES ROCHESTER COSTA MESA Mr. Gordon Hughes City of Edina 4801 West 50th Street Edina, Minnesota 55424 PILLSBURY CENTER SOUTH NEW YORK 220 SOUTH SIXTH STREET DENVER MINNEAPOLIS, MINNESOTA 55402 -1498 SEATTLE TELEPHONE: (612) 340 -2600 FARGO FAX: (612) 340 -2868 BILLINGS TRACY L. MCGUM (612) 844 -2190 MISSOULA Fax (612) 340 -26" mcguire.tmcy@dorseylaw.com GREAT FALLS August 6, 1998 Re: Title Policy and Deed for 3950 West 49 1/2 Street, Edina, Minnesota Our File No. 94802/459 Dear Gordon: Enclosed is the original Policy of Title Insurance and the recorded Warranty Deed for the HRA's purchase of the above - referenced address. Please keep these in your files for future reference (we have kept photocopies in our file as well). As always, if you have any questions, please feel free to call me at your convenience. Very truly yours, Tracy L. _ Guire TLM /ml Enclosure ovals r r • r r a �! r '!w r .!It r 0 '3 it 3 O O W N m off o °i m o W 5 3w1 y1 n Y i <o m om� O •C r. o• v °i c� X Z C Z Cal o_� m Q L° o m y[13 onti 0 T i � Er• n Ny�c ii 1.i Q Q N d N Z F no Sn < I " t�7 C > •� z Lon" C/1 yv n rn n-'mv co M r 7 c� m � CAD o n n a '^ n Q CAD ►i " ? Z m b o a D c7 9 �zz m coo •m C-, t K `i a d C7 O Ci Dat CD N C \ o 33 U V =38 am <° ci m A M E R I First American Title Insurance Company POLICY OF TITLE INSURANCE EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (ncluding but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (d) the occupancy, use, or enjoyment of the land; (IQ the character, dimensions or location of arty improvement now or hereafter erected on the land; Iii!) a separation in ownership or a change in the dimensions or area of the land or arty parcel of which the land is or was a part; or (w) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded inlhe public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Data of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded In the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded In the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Compaq by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the Insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim; which arlses+wtef- thetransaction vesting in the- Insured the estate or interest Insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on: (j) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer, or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preeferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. The following terns when used in this policy mean: (a) 'insured": the insured named in Schedule A, and, subject to any rights or defenses the Company would have had against the named insured, those who succeed to the interest of the named insured by operation of law as distinguished from purchase including, but not limited to, heirs, disbibutees, devisees, survivors, personal represerda- t nee, next of kin, or corporate or fiduciary successors. (b) 'insured claimant': an Insured claiming loss or damage. (e) 'knowledge' or "known': actual knowledge, not constructive knowledge or notice which may be Imputed to an Insured by reason of the public records as defined in this policy or any other records which impart constructive notice of matters affecting the land. "land": the land described or referred to in Schedule (d) (A), and improvements affixed thereto which by law constitute real property. The term -land' does not include any property beyond the lines of the area described or referred to in Schedule (A), nor any right, title, interest, estate or easement in abutting streets, roads,, avenues, alleys, lanes, ways or waterways, but nothing herein shall mocily or limit to extent to which a right of access to and from the land is insured by this policy. (e) "mortgage": mortgage, deed of trust, trust deed or other security instrument. 0) 'public records': records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and withrout knowledge. With respect to Section 1(a)(iv) of the Exclusions From Coverage, 'public records" shall also incude environmental protection liens filed in the records of the clerk of the United States district court for the dlsMct in which the land is located. (g) "unmarkelablbay, of the tile': an alleged or apparent matter affecting the tide to the land not excluded or excepted from coverage, which would smile a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE. The coverage of this policy shall continue it force as of Date of Policy in favor of an insured only so log as the insured retains antestate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given rntedsh tiaveihab1kygrrig6ri"ofobvehaMS nit as-the , -- Y ofwarrtiy" made by the Insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force if favor of anypuichaser from the insured of ether (I) an estate or Interest In the land, or (ii) an indebtedness secured by a purchase money mortgage given to the Insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. The Insured stag notify the Company promptly in wolfing tQ in can of any litigation as setforth in Section 4(a) below, (IQ In case knowledge shall cone to an insured hereunder of arty claim of Ode or Interest which Is adverse to the title to the estate or interest, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (it[) if title to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the natter or matters for which prompt notice is required; provided, however, that failure to notgy the Company shall in no case prejudice the rights of arty Insured under this policy unless the Comparry shag be prejudiced by the failure and then only to the extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED CLAIMANT TO COOPERATE (a) Upon written request by the Insured and subject to the options contained in Section 5 of these Conditions and Stipulations, the Company, at its own cost_ and without unreasonable delay, shall provide for the defuse of an insured in litigation In which any third party asserts a claim adverse to the He or interest as insured; but only as to those stated causes of action alleging a defect, lien or an- cumbrance or attar rraher insured against "Is policy. The Company shall have the dght to siact counsel of its choice (subject to the right of the insured to object for reasonable cause) to represent the insured as to those stated causes of action and shag not be liable for and WIN not pay the fees of any other counsel. The Company will not pay any fees, casts or expenses Incurred by the insured in the defense of those causes of action which allege maters not insured against by this policy. (b) The Company shall have the right, at its own cost, to institute and prosecute any action or proceeding or to do any other act which In its opinion may be necessary or desirable to establish the He to the estate or Interest, as inured, or to prevent or reduce loss or damage to the insured. The Company maytaks any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and stall no thereby concede liability or waive any provision of this policy. 0 the Company shall exercise its rights under this paragraph, it shall do so chNgmtly. (c) Whenever the Company shag have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any litigation to final deterinaton by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provide defense in to action or proceeding, and all appeals therein, and permit to Company to use, at its option, the new of the insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable old (1) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (i) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or Interest as insured. lithe Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured ender the policy shall terminate, including any liability or colligation to defend, prosecute, or continue any litigation, with regard to the matter or mates requiring such cooperation. 5. PROOF OF LASS OR DAMAGE In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be fumshed to the Company within 90 days after the insured claimant shall ascerakn the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the tide, or other matter insured against by this policy which constitutes the basis of loss or damage and shell state, to the extern possible, the basis of calculating the amount of the loss or damage. it the Company is prejudiced bythe failure of the insured claimant to provide the required proof of loss or damage, the Company's obligations to the insured under the policy shall terminate, Including arty liability or obligation to defend, prosecute, or continue arty litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under gait by any authorized representative of the Company and shall produce for examination,. inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, boob, hers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, If requested by any authorized representative of the Company, the insured claInant shag grant its permission, in writing, for arty authorized rep- resentative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspondence and mem- oranda in the custody or control of a t titd, wt�h reasonably= pertain td Due loss ur damage. Aim mrai designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the ack inistrahwx of the claim. Failure of the insured claimant to submit for examination under oath, produce otter reasonably requested intonation or grant permission to secure reasonably necessary irdoma- ton from turd parties as required in this paragraph, unless prohibited by law or gDammentat reguk", shall terminate any liability of the Company under this policy as to that claim. 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS: TERMINATION OF LIA M.. In case of a chin under this policy, the Company shag have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amourd of insurance under this policy together with any costs, atomeys' fees and expanses incurred by the Insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the Insured under this policy, otter than to make the payment required, shag terminate, including any liability or obligation to defend, prosecute, or continue W Iagation;, -.and the p&*- shag -he surendered-to fie Company for cancellation. (b) To Pay or Otherwise Settle With Parties Other thari the Insured or With the insured Claimant. @ to pay or otherwise settle with other parties for or In tie name of an insured claimant any claim insured against ureter this policy, together with any costs, atomeW fees and expenses incurred by the insured claimant which were authored by the Company up to the time of payment and which the Company is obligated to pay, or pQ to pay or otherwise settle with the insured claimant the loss or damage provided for units this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimamwhich were authorized by the Company up to the time of payment and which the Company Is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(Q or (1p), the Com- panys obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shag terminate, Including any liability or obligation to defect, prosecute or continue any litigation. 7. DETERMINATION, EXTENT OF LIABILITY ANO COINSURANCE This policy is a contact of indemnity against actual monetary loss or damage sustained or Incurred by the insured claimant who has suffered loss or damage by reason of matters Insured against by this.policy and only tothe extent, herein described. (a) The liability of the Company under this policy shall not exceed the least of: (d) the Amount of Insurance stated in Schedule A; or (ii) the difference between the value of the insured estate or interest as insured and the value ofthe insured estate or interest subject to the (elect, lien or encumbrance insured against by this policy. (b) in the event the Mount of Insurance stated in Schedule A at the Date of Policy is Mss than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever is less, or If subsequent to the Data of Policy an improvement Is erected on the land which increases the value of the insured estate or Interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (Q where no subsequent Improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the Amount of Insurance at Date of Policy bears to the total value of the insured estate or Interest at Date of Policy; or tab) where a subsequent improvement has been mare, as to any partial loss, to Company shag only pay the loss pro rate in the proportion that 120 percent of the Amount of Insurance slated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount eipended for the impovemenL The provisions of this paragraph shall riot apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) The Company wgrpayoiiy those costs, attorneys' fees and oepernses incurred In accordance with Section 4 of these Conditions and Stipulations. iQ�d914:ItIQai�;t! lithe hand described in Schedule (A)(C) consists ottwo or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shag be computed and settled on a pro rata basis as if the Amount of Insurance under this policy was divided pro rate as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements Trace sub- sequent to Date of Policy, unless a Nobility or value has otherwise been agreed upon as to each parcel by the Company and the insured at the fine of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY. (a) I the Companyestabiishes the fide, or removes the alleged defect, lien or encumbrance, or toes the lack of a right of access to or from the land, or cures the claim of unmaxkeabirdy of He all as insured, in a reasonably diligent manner by any method, Including Ieigation and the canpe- gof of arty appeals therefrom, N shall have fully performed its obligations with respect to that matter and shall not be gable for any loss or damage caused thereby. (b) in the event of any Iiligatiar, including litigation by tie Company or with the Company's consent, the Company shall have no liability for loss or damage urdii there has been a final determination by a court of competent judsriclion, and disposition of all appeals therefrom; adverse to the tine as Insured. (c) The Comparry shag not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in setting any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE: REDUCTION OR TERMINATION OF LUUULiTY. AN payments rnderthis policy, except payments made for costs, attorneys' fees and expenses, shag reduce the amount of the Insurance pro tardo. 11. LIABILITY NONCUMULATIVE Company may pay under any policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which Is hereafter executed by an insured and which is a charge or hen on the estate or interest described or referred to in Schedule A, and fine amount so paid shall be deemed a payment under this policy to the insured owner. 12. PAYMENT OF LOSS. (a) No payment shall be made without producing this policy for endorsement of tie payment unless tie policy ties been last or destroyed, in which case proof of loss or d estructiar shall be furnished to the satisfaction of the Company. (b) When liability and the extent o f loss ordamagehas been dednrkebyfusd in accomlmce with these Conditions and Stipulations, the loss or damage strait be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Sebregadau Whenever the Company shall have settled and paid a Balm under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured clamant. The Comparry shall be subrogated to and be entitled to all rights and remed'ps wtvch the insured claknant world have had against arty person or piuperly Id respect to the claim hadthis policy not been Issued. IN requested bythe Company. . the insurer) dalmant sleds transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured clainsrdandto use the no= of the insured claimant in any transaction or Oigator involving these dgds or rerradies. ff a payment on account of a claim does retfully cover the loss of the Insured claimant the Company shelf be su brogated to these rights and remedies in the proportion which the Companys payrrerd bears to the whole amount of the loss. t loss should result from any act of the insured claimant, as stn above, that act shag not void this policy, but the Company In that event shag be required to pay only that part of any losses insured against by this Policy which shag exceed the amount if any, lost to the Company by reason of the impaired by the insured claimant of the Company's right of subrogation. (b) The Company: Rights Against nor- himred Obligom The Company's fight of suthrogatim against non- insured obligors shall east and shall lnckide, without limitation, tie rights of the Insured to Indemnities, plararfOes, otter policies of insurance or bonds, notwithstanding any terms or conditions contained In those Instruments which provide for subrogation rights by reason of this policy. 14. AIIBITRI TIOR. " ' - Unless prohibited by applicable law, either the Com- parry or the insured may demand arbitration pursuant to the Tole Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim hatwem the Company and the insured arising out of or retailing to this policy, any service of the Company In connection with its issuance or the breach of a policy provision or other obligation. AN arbitrable maters when the Mount of Insurance is $1,000,000 or less shall be arbitrated at the option of either to Company or the insured. All arbitrable mattes when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by bath the Company and the insured Arbitration pursuant to this policy and under the Rules in elect on the date the demand for arbitration Is made or, at the option of the Insured, the Rules in effect at Dale of Policy shag be binding upon the parties. The award may include attorneys' fees only It the laws of the state In wjdch the land is located permit a court to award atomeys' fees to a prevailing parry. Judgment upon the award rendered by the ArbiValor(s) may be entered in any coat having jurisdiction thereof. The law of the sikus of the lard shag apply to an arbitration under the Title Insurance Arbiballon Rues. A copy of the Rules may be obtained iron the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT. (a) This policy together with d endorsements, it airy -_ attached hereto by the Company its the entire policy and contract between the insured and the Company. In Iaepret- ling any provision of this policy, this polity shag be construed as a whole. (b) Any claim of loss or damage, whether or not based ises alt negligence, and which arm out of the status of the rite to the estate or interest covered hereby or by any action asserUrg such claim, shag be restricted to this poky. (c) No amendment of or endorsement to this Policy can be made except by a writing endorsed hereon oratadted hereto signed by either the President, a Vice President, tie Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 16. SEVERABILITY. In the event any provision of the policy Is held invalid or orerdorceable under applicable law, the policy shag be deemed not to include that provision and all other provisions shall remain in full force and effect 17. NOTICES, WHERE SENT. Ali notion required to be given the Company and any s4aftairwrft in writing mquired to be unshed the Compoy stag frAdethe mmiloer of ft poNCyard shy be addressed to the Corpamy at L.etlal Dept, Fast American Tale Ira Co., 7777 Washington Avemde South, Edna, MN 55439. For Form 1402 ALTA Owner's Policy Schedule A SCHEDULE A Policy Number: CO 817417 Date of P0licy February 13, 1998 at 3:14 P.M. File No. 59- 2727C- SUPPLEMENT Amount of Insurance $225 , 000.00 1. Name of Insured: The Housing and Redevelopment Authority of Edina, Minnesota 2. The estate or interest in the land covered by this policy is: Fee simple 3. Title to the estate or interest in the land is vested in: The Housing and Redevelopment Authority of Edina, Minnesota 4. The land referred to in this Policy is described in Schedule C. S� AMERI C, First American Title Insurance Company For Form 1402 ALTA Owner's Policy Schedule B SCHEDULE B Attached to Policy No. ro R1 741 7 File No. 59- 2727r- ,qTTPPT, MENT EXCEPTIONS FROM COVERAGE 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: 1. Standard Exceptions: (a) Any discrepancies or conflicts in boundary lines, any shortages in area, or any encroachment or overlapping of improvements. (b) Any facts, rights, interests or claims which are not shown by the public record but which could be ascertained by an accurate surrey of the land or by making inquiry of persons in possession thereof. (c) Easements, liens or encumbrances or claims thereof, which are not shown by the public record. (d) Any lien or right to a lien for services, labor or material imposed by law and not shown by the public record. (e) Taxes or special assessments which are not shown as existing liens by the public records. 2. The lien of the General Taxes due and payable in the year 1998 , and thereafter. Items 1 (c), (d) and (e) above are hereby deleted. 3. There is a levied special assessment for parking facility with a balance due of $769.46. ($278.92 was certified to taxes payable in 1997) There are no pending special assessments. 4. Street easement conveyed to the Village of Edina as contained in Easement dated June 7, 1945, filed June 7, 1945, as Document No. 2384705. 5. Easement for Public Walkway Purposes conveyed to the City of Edina dated August 27, 1975, filed September 2, 1975, as Document No. 4161444. First American Title Insurance Company SCHEDULE C File NO. 59- 2727C- SUPPLEMENT The land herein referred to is situated in the County of Hennepin , State of Minnesota and is described as follows: The East 52 feet of the Southerly 150 feet of the North one -half (N 1/2) of Lot 36, Auditor's Subdivision No. 172, Hennepin County, Minnesota. First American Title Insurance Company SST AMER�C ♦ 7 first American Title Insurance Company RIDER TO ALTA FORM LOAN OR OWNERS POLICIES INSURING LAND LOCATED IN MINNESOTA This Rider is a part of the ALTA Form Loan or Owners Policy to which it is attached. The PAYMENT OF LOSS provision of the CONDITIONS AND STIPULA- TIONS is amended to add the following: (c) When a settlement of all or any part of a claim has been agreed to in a written settlement agreement with the Insured and the amount of a loss is agreed upon therein, the loss shall be payable within five (5) business days after the later of (1) receipt by the Company of the executed settlement agreement, or (2) the date the Company is informed of the satisfactory per- formance of the conditions, if any, which are required to be satisfied as a condition of payment. 8601 (10/97) 5M