Letter from CK to North American Title Company 08-09-20131
August 9, 2013
HAND DELIVERED
Ms. Kimberly Schultz
North American Title Company
5001 American Boulevard, Suite 300
Bloomington, Minnesota 55431
Re: City of Chanhassen — B. Elmer Family Farms, LLC
Plat of Jeurissen Ridge
Dear Ms. Schultz:
This office is legal counsel for the City of Chanhassen. For convenience,
North American Title Company is referred to in this letter as "you." This letter
( "Escrow Instructions ") constitutes Escrow Instructions for the closing scheduled for
August 9, 2013, with B. Elmer Family Farms, LLC.
The City's closing documents are enclosed herewith. The City's closing
documents shall be disbursed strictly in accordance with the Escrow Instructions.
Attached to this letter is an acknowledgement by you of the receipt of this letter and
your agreement to hold and disburse the closing documents and funds in
accordance with the Escrow Instructions. Prior to undertaking any actions related
to the Escrow Instructions, you must first sign and return a copy of this letter to me
via fax (original to follow by mail).
1. Documents. The following City documents are included herein:
A. Development Contract between the City of Chanhassen and B.
Elmer Family Farms, LLC for Jeurissen Ridge;
B. Official final plat mylar for Jeurissen Ridge;
C. Three paper copies of final plat (1" — 200' scale) (one each to
County Auditor, County Assessor and County Surveyor); and
D. Easement for permanent flowage and preservation and protection of
wetlands.
2. Closing Conditions. The escrowed documents are to be disbursed,
if and only if, the following conditions have been met:
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Ms. Kimberly Schultz
August 9, 2013
Page Twp
A. B. Elmer Family Farms, LLC has delivered to you a check payable to the City of
Chanhassen or you are able to pay to the City from the closing proceeds the amount of
$802,627.43 for the deferred assessment for Bluff Creek Boulevard Improvement Assessment
(City Project 06 -05) levied against the Subject Property. (This amount increases by $98.83 per
day.)
V B. B. Elmer Family Farms, LLC has delivered to you a check payable to the City of
Chanhassen or you are able to pay to the City from the closing proceeds the amount of $800.00
to cover he City's costs for final plat review, attorney's fees and document recording.
. B. Elmer Family Farms, LLC has delivered to you a Grant of Permanent and
Temporary Easement from Degler Land Company, LLC to the City of Chanhassen (copy
enclosed).
JD. B. Elmer Family Farms, LLC has delivered to you a Grant of Pennanent and
Temporary Easement from Chanhassen Residential Development Partners, LLC to the City of
Chanhassen (copy enclosed).
V E. You are prepared to record a Certificate of Full Release of Mortgage and
Assignment of Rents and Profits releasing the mortgage dated September 23, 2011, recorded on
Octo�ber /3, 2011, as Document No. 543137.
VF. You are prepared to record a Certificate of Full Release of Mortgage and
Assignment of Rents and Profits releasing the mortgage dated January 30, 2013, and recorded on
February 5, 2013, as Document No. 571094.
G. You have received all documents that you deem necessary and are immediately
prepared to record the Certificates of Full Release of Mortgage and Assignments of Rents and
Profits as referred to above, Development Contract, Plat mylar and Easement in the following
order and prior to any transfer documents or other liens or encumbrances:
i
Z' Certificate of Full Release of Mortgage and Assignment of Rents and Profits
releasing the mortgage dated September 23, 2011, recorded on October 3, 2011,
as Document No. 543137;
Y Certificate of Full Release of Mortgage and Assignment of Rents and Profits
releasing the mortgage dated January 30, 2013, and recorded on February 5, 2013,
as Document No. 571094;
,3' Development Contract;
Plat mylar;
5! Easement;
Warranty Deed from B. Elmer Family farms, LLC to U.S. Home Corporation; and
—7- -- Mortgage documents
+f-any:
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Ms. Kimberly Schultz
August 9, 2013
Page Three
H. You have received telephonic instructions from the undersigned or member of
this firm to proceed with the closing of the transaction.
3. Closing Instructions. When the conditions under Section 2 of these Escrow
Instructions have been met, you shall:
A. Deliver to the City your check payable to the City of Chanhassen in the amount of
5802,627.43 for the deferred assessment for Bluff Creek Boulevard Improvement Assessment
(City Project 06 -05) levied against the Subject Property.
Deliver to the City your check payable to the City of Chanhassen in the amount of
5800.00 to cover the City's costs for final plat review, attorney's fees and document recording.
C� Once all documents have been recorded with the County, provide this office with
the appropriate recording information by requesting the County Recorder to complete the enclosed
blue "Filing of Documents" sheet and emailing the completed sheet to me. The City will not
permit the developer to start work on the project until we receive the recording information.
D.�1 Have the original recorded Development Contract and Easement returned to me
after recording.
1::4:� : Closing Date. Unless you are able to close this transaction before the end of
business Friday, August 9, 2013, you shall return the Escrowed Documents to me, unless you
receive other instructions from the respective parties.
Very truly yours,
Campbell Knutson
Professional Association
AMP:cjh By: 4�� �4e/
Enclosure Andrea McDowell Poehler
Agreed to and accepted thiscPlday of2013.
North erican e Company
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By
F [!
umberly Schu z
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