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Title CommitmentISSUED BY CARVER COUNTY ABSTRACT & TITLE CO., INC. AS ISSUING AGENT FOR CHICAGO TITLE INSURANCE COMPANY Commitment Number: CA28110 SCHEDULE A 1. Effective Date: May 7, 2014 at 07:00 AM 2. Policy or Policies to be issued: Amount (a) X Owner's Policy ( ALTA Own. Policy (06/17/06)) To Be Determined Proposed Insured: (b) X Loan Policy ( ALTA Loan Policy (06/17/06)) To Be Determined Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment is Fee Simple. 4. Title to the Fee Simple estate or interest in the land is at the Effective Date vested in: Kenneth J. Lang and Betty Lou Lang, husband and wife, as joint tenants 5. The land referred to in the Commitment is Abstract Property situated in Carver County, State of Minnesota and is described as follows: SEE EXHIBIT AATTACHED HERETO FOR REFERENCE PURPOSES ONLY: The company has not verified, does not insure, and makes no representation that the information below is about the above insured property. According to insured's representation or vesting instrument(s), the street address and pin /tax ID # of the property have been represented to the company as follows: Address: 2631 Forest Avenue, Excelsior, MN 55331 PIN/Tax ID # 25.5150070 Carver County A�tr ct & Title Co., Inc. B , Y� " Authorized Signatory ALTA Commitment Schedule A (6/17/06) (CA 28110.PFD /CA 28110/22) i ISSUED BY CARVER COUNTY ABSTRACT & TITLE CO., INC. AS AGENT FOR CHICAGO TITLE INSURANCE COMPANY COMMITMENT NUMBER CA 28110 EXHIBIT A PROPERTY DESCRIPTION The land referred to in this Commitment is situated in the County of Carver, State of Minnesota, and is described as follows: All of Lot Thirty (30) and that part of Lot Thirty -one (31), Minnewashta Park lying Westerly of a line described as follows: Commencing on the South line of said Lot Thirty -one (31) at a point 565 feet West of the East line of said Minnewashta Park; thence Northerly to a point on the North line of said Lot Thirty -one (31) distant 331.73 feet West, along the Northerly line of said Lots Thirty-one (31) and Thirty -two (32), from a line drawn parallel with and distant 265 feet West of the East line of said Minnewashta Park, Carver County, Minnesota. Above situated on the Northwest Quarter of the Northeast Quarter and Lots 1, 2, 3, Section 4, Township 116, Range 23 and the West Half of the Northeast Quarter of the Northeast Quarter, Section 4, Township 116, Range 23, Carver County, Minnesota. ALTA Commitment (CA28110.PFD/CA28110114) Exhibit A W� ISSUED BY CARVER COUNTY ABSTRACT & TITLE CO., INC. AS ISSUING AGENT FOR CHICAGO TITLE INSURANCE COMPANY Commitment Number: CA28110 SCHEDULE B EXCEPTIONS Upon payment for the full consideration to, or for the account of, the grantors or mortgagors, and recording of the deeds and /or mortgages, the form and execution of which are satisfactory to the Company, the policy or policies to be issued shall contain exceptions in Schedule B thereof to the following matters (unless the same are disposed of to the satisfaction of the company): 1. If an Owner's Policy is to be issued, the mortgage encumbrance, if any, created as part of the purchase transaction. 2. 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. 3. Rights or claims of parties in possession not shown by the public records. 4. Encroachments, overlaps, boundary line disputes, and any other matters which would be disclosed by an accurate survey and inspection of the premises. 5. Easements or claims of easements not shown by the public records. 6. Any lien, or right to a lien, for services, labor, or materials heretofore or hereafter furnished, imposed by law and not shown by public records. 7. Taxes or special assessments which are not shown as existing liens by the public records. 8. General and special taxes and assessments as hereafter listed, if any (all amounts shown being exclusive of interest, penalties, and costs): (A) Real estate taxes due and payable in 2014 are in the amount of $4,946.00 and are Half Paid. Base tax is $4,946.00. Homestead Property Identification No. 25.5150070 Note: There are no delinquent taxes of record. (B) NOTE: Levied or pending assessments, if any. (C) 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. 9. This Commitment is being prepared to show the status of title for platting or survey purposes. 10. WE REQUIRE that standard form of affidavit, or affidavits, be furnished to us at closing. ALTA Commitment Schedule B (06/17/06) (CA28110.PFD/CA28110/22) S&91991 n-0 CARVER COUNTY ABSTRACT & TITLE CO., INC. AS ISSUING AGENT FOR CHICAGO TITLE INSURANCE COMPANY Commitment Number: CA 28110 SCHEDULE B - EXCEPTIONS (Continued) 11. WE REQUIRE Well Disclosure Certificates be completed in typed form prior to closing and furnished at time of closing for all deeds which require a Certificate of Real Estate Value OR the deed must contain the following statement: "The seller certifies that the seller does not know of any wells on the described property." 12. If the survey exception is to be deleted, WE REQUIRE a current survey certified to Carver County Abstract & Title Co., Inc. and Chicago Title Insurance Company for encroachments, easements, visible or of record, points of access and any improvements. 13. Subject to Mortgage dated December 10, 2003, filed December 26, 2003, as Document No. A376087, executed by Kenneth J. Lang and Betty Lou Lang, husband and wife, to U.S. Bank National Association, N.D. in the original principal amount of $200,000.00. NOTE: AConsent or Partial Release of the lender currently holding the loan would be required to clear their interest. 14. Subject to Easement for maintaining and operating a pumping plant reserved by Rose Dobbin and Willard J. Dobbin, wife and husband, as created in Warranty Deed, dated May 23, 1947, filed November 13, 1947, in Book 53 of Deeds, page 458. (Copy attached.) 15. Subject to Easement for sanitary sewer and water purposes granted to City of Chanhassen as created in Easement, dated October 5, 1972, filed January 2, 1973, in Book 110 of Deeds, page 15. (Copy attached.) 16. Note: Identification will be required from all parties required to sign documents at closing. 17. Note: The following is not a 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 that the following information be provided at closing: A) Seller's Tax Identification Number or Social Security Number. B) Seller's full address after the closing. END OF SCHEDULE B EXCEPTIONS ALTA Commitment Schedule B (06/17/06) (CA 281 10.PFD/CA 28110/22) (*)z Chicago Title Insurance Company COMMITMENT FOR TITLE INSURANCE Issued by Chicago Title Insurance Company Chicago Title Insurance Company, a Missouri corporation ( "Company'), for a valuable consideration, commits to issue its policy or policies of title insurance, as Identified in Schedule A, in favor of the Proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the Proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate 90 days after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. IN WITNESS WHEREOF, Chicago Title Insurance Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A. MN2039 CHICAGO MIX tN$VRANCE COMPANY Carver County Abstract & Title Co., Inc.1 411 Chestnut Street North f (J' " Chaska, MN 55318 my- P , Tel:(952) 448 -5570 t P ow.. Fax:(952) 448 -5155 Countersigned: Authorized Signatory 72C 10 1 (6106) ALTAComn*ffew.2006 s O,v� M1-1610 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 acquired 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. 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 Ioss 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 and Conditions 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. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. 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. 5. The policy to be issued contains an arbitration clause. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. You may review a copy of the arbitration rules at <h1tp.1Avww.a1taorg1>.