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HomeMy WebLinkAboutContract 1766CHARTERED 470 Pillsbury Center 200 South Sixth Street Minneapolis MN 55402 (612) 337-9300 telephone (612) 337-9310 fax http://www, kennedy-graven.com C.4TltERINE B. ROCI~ITZ Legal Assistant Direct Dial (612) 337-9250 em,ill: croclditz~ketmedy-graven, com May 4, 2004 Mr. Robert Streeter City of Columbia Heights 590 40th Avenue NE Columbia Heights, MN 55421 R~: NE1 College of Technology Dear Mr. Streeter: Enclosed is the Owners Policy of Title Insurance NO. A75-2020980 and the Warranty Deed from the NEI closing. Sincerely, /:7 "" Catherine Rocl~litz <~ Enclosures CBR-247387vl CL205-21 OFFICE FILE NUMBER 21134 Lawyers Title Insurance Corporation OWNERS POLICY SCHEDULE A POLICY NUMBER IIA75~2020980 DATE OF POLICY AMOUNTOFINSURANCE February 18th, 2004 I15 600,000.00 at 09:55 AM 1. Name of Insured: City of Columbia Heights Economic Development Authority (EDA), a political subdivision of the State of Minnesota 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: none 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, Block 1; Outlots A, C, E, and F; all in Northwestern 2nd Addition, according to the recorded plat thereof, Anoka County, Minnesota Abstract Property ALTA Owner's Schedule A (10/17/92) This Policy valid only if Schedule B is attached. (21134.pfd/21134/64) Lawyers Title Insurance Corporation OWNERS POLICY SCHEDULE B EXCEPTIONS FROM COVERAGE Office File No. 21134 Policy Number: A75-2020980 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. A. Real estate taxes are payable in 2004 and thereafter. Property identification No. 35-30-24-14-0151 (Lot 1, Block 1 ) Property Identification No. 35-30-24-14-0155 (Outlot A) Property Identification No. 35-30-24-14-0157 (Outlot C) Property Identification No. 35-30-24-14-0159 (Outlot E) Property Identification No. 35-30-24-14-0160 (Outlot F) B. There are no levied or pending assessments of record. 2. Rights or claims of tenants, as tenants only, in possession under unrecorded leases. 3. Easement for utilities and drainage as shown on the recorded plat. Terms and conditions of and easements contained in Quit Claim Deed, dated July 30, 1969, filed October 14, 1969, as Document No. 328271 in Book 845, Page 281. Amended by Amendment to Easement dated March 6, 2001, filed March 9, 2001, as Document No. 1554469. Terms and conditions of and easements contained in instrument dated September 3, 1982, filed September 7, 1982, as Document No. 596930. Amended by Amendment to Easement dated March 6, 2001, filed March 9, 2001, as Document No. 1554470. Terms and conditions of and easements contained in Agreement and Declaration of Covenants, dated September 8, 1982, filed September 17, 1982, as Document No. 597725. Amended by Amendment to Agreement and Declaration of Covenants dated March 6, 2001, filed March 9, 2001, as Document No. 1554478. Terms and conditions of Planned Unit Development Agreement, dated March 6, 2001, filed March 9, 2001, as Document No. 1554480. Terms and conditions of and easements contained in Declaration of Easements, dated March 6, 2001, filed March 9, 2001, as Document No. 1554481. Terms and conditions of and easements contained in Parking Easement Agreement, dated March 6, 2001, filed March 9, 2001, as Document No. 1554482. Office File No. 21134 Policy Number: A75-2020980 LAWYERS TITLE INSURANCE CORPORATION OWNERS POLICY SCHEDULE B (continued) 10. Terms and conditions of Ordinance No. 1411, filed March 9, 2001, as Document No. 1554471. 11. Terms and conditions of Ordinance No. 1425, filed March 9, 2001, as Document No. 1554473. 12. Terms and conditions of Ordinance No. 1426, flied March 9, 2001, as Document No. 1554484. 13. 14. 15. Minerals and mineral rights reserved by the State of Minnesota as shown in Document No. 319185 in Book 817, Page 338. Minerals and mineral rights reserved by the State of Minnesota as shown in Document No. 99076 in Book 179 of Deeds, Page 477. Minerals and mineral rights reserved by the State of Minnesota as shown in Document No. 99075 in Book 179 of Deeds, Page 476. Issuing Agent: Commercial Partners Title, LLC 200 South 6th Street, Suite 1300 Minneapolis, MN 55402 (612)337-2470 Countersigned Authorized Signatory ALTA Owner's/Leasehold Owner's Schedule B (10/17/92) (21134.pfd/21134/60 OWNER'S POLICY OF TITLE INSURANCE Issued by Lawyers Tit! '-"' LandAmerica Lawyers Title POLICY NUMBER AgS-2020980. SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, LAWYERS TITLE INSURANCE CORPORATION, a Virginia corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, LAWYERS TITLE INSURANCE CORPORATION has caused its corporate name and seal to be hereunto affixed by its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company. .__~ ........ ~ LAVVYERS TITLE INSURANCE CORPORATION ~t~ I 9 2 5 /~ President ~,, ,. .........'~ . EXCLUSIONS FROM COVERAGE The following ma~ers are expressly excluded from the coverage of this policy and the Company will no~ pay loss or damage, costs, a~orneys' fees or expenses which arise by reason of: (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereaEer erected on ~he land; (iii) a separation in ownership or a change in the dimensions or area of ~he land or any parcel o~ which the land is or was a pa~; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, excep~ to ~he extent ~hat a notice of the enforcement thereof or a no~ice o~ a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date o~ Policy. (b) Any governmental polic~ power not excluded by (a) above, except to the extent that a notice o~ the exercise thereof or a notice of a defect, lien or encumbrance resulEing from a violation or alleged violation affecting the land has been recorded in the publio records at Date o~ Policy. 2. Rights'of eminent domain unless notice of the exercise ~hereof has been recorded in the public records at Date of Policy, bu~ not excluding from coverage any taking which has occurred prior to Da~e of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. De~ects, liens, encumbrances, adverse claims or other matters: . (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to ~he Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing ~o the Company by the insured claimant prior ~o the da~e 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 o~ Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value ~or the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the Insured ~he 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: (a) ~he transaction crea~ing the estate or in~eres~ insured by this poli~y being deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating ~he estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (i) to timely record the instrument o~transfer; or (ii) o~ such recordation to impaK notice to a purchaser for value or a judgment or lien creditor. NM 1 PA 10 ALTA Owner's Policy (10/17/92) NJRB 1-11 Form B 1190-74B OWNER'S POLICY 'OF TITLE INSURANCE American Land Title Association (10/17/92) Issued by Lawyers.Title Insurance Corporation Lawyers Title Insurance Corporation ~s a member of the. LandAmerica family of title insurance 'underwriters. ~.: LandAmerica LaWyers Title LandAmeriCa Financial Group, Inc, 101 Gateway Centre Parkway Richmond, Virginia 23235-5153 www. landam.com THANK YOU. Title insurance provides for the protection of your real estate investment. We suggest you keep this policy in a safe place where it can be readily available for future reference. If you have questions about title insurance or the coverage provided by this policy, contact the office that issued this policy, or you may. call or write: Lawyers Title insurance Corporation Consumer Affairs P.O. Box 27567 Richmond, Virginia 23261-7567 telephone, toll free: 800 446-7086 web: www. landam.com We thank yOu for choosing to' do business with Lawyers .Title Insurance Corporation, and Io0k forward to meeting your future title insurance needs. Lawyers Title Insurance Corporation is a member of the LandAmerica family of title insurance. underwriters. ~. LandAmerica Lawyers Title CONDITIONS AND t. DEFINITION OF TERMS. The following terms when used in this policy mean: (a) "insured": the insured named in Scheduie 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, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) "insured claimant": an insured claiming loss or damage. (c) "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 coristructive notice of matters affecting the land. (d) "land": the land described or referred to in Schedule 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 dght, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the 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 without knowledge. With respect to Section l(a)(iv) of the Exclusions From Coverage, "public records" shall also include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) "unmarketability of the title": an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would enf~itle 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 in force as of Date of Policy in favor of an insured only so long as the insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the insured, or only so long as the insured shall have liability by reason of covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of any purchaser from the insured of either (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 shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title 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 (iii) 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 matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall 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 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or encumbrance or other matter insured against by this policy. The Company shall have the dght to select 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 shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs or expenses incurred by the insured in the defense of those causes of action which allege matters not insured 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 title to the estate or interest, as insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently. (c) Whenever the Company shall 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 determination by a court of competent jurisdiction STIPULATIONS 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 the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) 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. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS 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 furnished to the Company within 90 days after the insured claimant shall ascertain 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 title, or other matter insured against by this policy which constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the 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 any liability or obligation to defend, prosecute, or continue any 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 oath 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, books, ledgers, 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 claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information 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 administration of the claim. Failure of the insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this paragraph shall terminate any liability of the Company under this policy as to that claim. 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or'tender payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses 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, other than to make the payment required, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company for cancellation. (b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which 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)(i) or (ii), the Company's obli.gations to the insured under this policy for the claimed loss or damage, other than the ,payments t. equired to be made, shall terminate, including any liability or Obligation ~to-defend, prosecute or continue any litigation. CONDITIONS AND STIPULATIONS (Continued) 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE'. This policy is a contract of indemnity against actual monetary loss or damage sustairted or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. . (a) The liability of the Company under this policy ~hall not exceed' the least of: (i) the Amount of Insurance stated in Scheduie Ai or, (ii) the difference between the value of the insured estate o~: interest as insured and the value of the insured estate or interest subject to the defect, lien or encUmbrant:e insured against by this policy. (b) In.the event the Amount of Insurance stated in Schedule A at the Date of. Policy is less 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 Date 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:. . .(i) ' where no subsequent improvement has been made, as to any · partial loss, the C0mpa_ny shall only pay the loss pro rata id 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 '(ii) where a Subsequent improvement has been made, as to any partial 10ss, the Company shall only pay the loss pro rata in the propo~ion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. . . The provisions of this paragraph shall not 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 agg(egate, 10 percent_ of the Amount of Insurance stated in Schedule A. (c) 'lThe Company will pay only those costs, attorneys' fees and expe. nses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. 'APPORTIONMENT. ' If,the land described in Schedule A consists of two 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 shall be computed and settled, on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate pamel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time 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'f the Company establishes the title, or removes the all,ged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketal~ility of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom,' it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title as insured. (c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit without the pdor written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY. All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto. 11. LIABILITY NONCUMULATIVE. It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the 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 lien on the estate or interest described or referred to in Schedule A, and the 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 the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) ~ When liability and the extent of loss or damage has been definitely fixed ih accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insu(ed claimant. The Company shall be subrogated to and be entitled to all rights and remedies which the insured claimant would have had against any person or .property.in .respect to the claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any persbn 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 claimant and to use the name of the insured claimant in anY transaction or litigation involving these rights or 'remedies. If.~ payment o'n .account of a claim does not fully cover the loss of the insured claimant, !he Company shall be subrogated to these rights and remedies in the proportion which the Company's payment bears to the whole amount of'the.loss~ If loss.should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy which shall exceed the arn'ount,' if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. · (b) The Company's Rights Against Non-insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall inClude, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bends; notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. 14.' ARBITRATION. Unless prohibited by applicable law, either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American' Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured adsing out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of insurance is $1,000,000 or less shall be arbitrated at the option of either the Company or the insured. All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated .only when agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs df the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. '(a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, this policy shall be construed as. a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises Out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a writiBg endorsed hereon or attached hereto signed by either the President, a Vice Presider!t, the 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 unenforceable under applicable law, the policy shall be deemed not to include that provision and all other previsions shall remain in full force and effect. 17. NOTICES WHERE SENT. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to: Consumer Affairs Department, P.O. Box 27567, Richmond, Virginia 23261-7567. Nb dellnqu~rif taxes and. transtar entered~ ,C~rtificate of Rea~ Estate Value ( ;'"" ) filed ..( I n t re~::ired Certificate of Real Estate V~lue No M~ureen J. D~ine Deputy 1898698 WARRANTY DEED Corporation or Parmership or Limited Liability Company to Corporation, Partnership.~r Lirn/ted Liability Company DEED TAX DUE: / ] g0. ~r~ FOR VALUABLE CONSIDERATION, NEI College of Technology, a Minnesota non-profit corporation, Grantor, hereby conveys and warrants to the City of Columbia Heights Economic Development Authority (EDA), a political subdivision of the State of Minnesota, Grantee, real property in Anoka County, Minnesota, described as follows: Lot 1, Block 1; Outlots A, C, E and F; all in Northwestern 2nd Addition, according to the recorded plat thereof, Anoka County, Minnesota together with all hereditaments and appurtenances belonging thereto, subject to the following exceptions: See attached Exhibit A C~TOX if applicable: he Seller certifies that the seller does not know of any wells on the described real property. [] A well disclosure certificate accompanies this document. [] I am familiar with the property described in this instrument and I certify that the stares and number of wells on the described real property have not changed since the last previously filed well disclosure certificate. NEI College of Technology STATE OF MINNESOTA ) ) SS. COUNTY OF HENNEPIN ) ,~strument was ~cknowledged before me omFebruary 9, 2004, by ~ ~~___,~v-- the ~~;( (.4f_/~-~7.-~ of NEI College of~ ~ Minnesota non-profit corporation, on b~alf of the corporation, Grantor. SHARON RUANE NOTARY PUBLIC-MINNESOTA THIS INSTRUMENT DRAFTED BY: Check here if part or all of the land is Registered (Torrens) [] Tax Statements for the real property described in this instrument should be sent to: Gray, Plant, Mooty, Mooty & Bennett, P.A. 500 IDS Center 80 South Eighth Street Minneapolis, MN 55402 (WTA/ldc) City of Columbia Heights Economic Development Authority (EDA) 590 40th Avenue NE Columbia Heights, MN 55421-3878 /93085 GP:1549176 vl (a) (b) (c) (d) (e) Exhibit A Exceptions to Title Building, zoning and platting laws, ordinances and state and federal regulations; Reservation of any minerals or mineral rights to the State of Minnesota; Utility and road easements of record that do not interfere materially with the use or development of the Property by Buyer, as disclosed by visual inspection of the easement on the Survey; The lien of current taxes not yet due and payable, if any; The lien of special assessments of record and all levied assessments. /93085 GP:1549176 vl ABSTRACT Rece:pt # ..~ ~--//~-o3-/c~C30 _~'. oO D Incorrect/No Reference ~ Date~ime ~ . / ~ / ~: ~ ~ Non-standard Document ~ Ce~ified Copy/ Document Order ~ of ~ PINs '~ Recordabi~i~ Filing Fees ~ $ ~ O. ~ ~ ~ T~ Lien/Release Copy/Additional Pg Fees $ ~ ~ Transfer Well Ce~ Fees $ ~ Division ~ Incomplete Form D Status D Missing AEachment D New legal Description D No Legal Description D GAC ~ Non-existent Legal Description D Deferred Specials ~ Pa~(s) Illegible D No Change DOCUMENT NO. 1898698 . 0 ANOKA COUNTY MINNESOTA I HEREBY CERTIFY THAT THE WITHIN INSTRUMENT WAS FILED IN THIS OFFIOE FORREOORDONi~R]~ '18:200 AT 9: .~-~ ~ AND WAS DULY RECORDED. FEES AND TAXES IN THE AMOUNT OF $ :2005.00 PAID. RECEIPT NO. :2. 004035 '15 ~. MAUREEN J. DEVINE ANOKA COUN?7 PROPERZY TAX ADMINISTRATOR/RECORDER/REGISTRAR OF TITLES BY DEPUTY PROPERTY TAX ADMINISTRATOR/RECORDER/REGISTRAR OF TITLES 2~1_