Title CommitmentO C1iYOFCHAtvHAS3EC I
RECEIVED
COMMERCIALPARTNERS JUN n 8 2015
T I T L e, r. L C rHANHA98E(,IPIMINING)IF4
Privacy Policy Notice
PURPOSE OF THIS NOTICE
Title V of the Gramm -Leach -Bliley Act (GLBA) generally prohibits any financial
institution, directly or through its affiliates, from sharing nonpublic personal information
about you with a nonaffiliated third party unless the institution provides you with a notice
of its privacy policies and practices, such as the type of information that it collects about
you and the categories of persons or entities to whom it may be disclosed, in
compliance with the GLBA, we are providing
you with this document, which notifies you of the privacy policies and practices of
Commercial Partners Title.
We may collect nonpublic personal information about you from the following sources:
• Information we receive from you such as on applications or other forms.
• Information about your transactions we secure from our files,
or from [our affiliates or] others.
• Information we receive from a consumer reporting agency.
• Information that we receive from others involved in your transaction,
such as the real estate agent or lender.
Unless it is specifically stated otherwise in an amended Privacy Policy Notice, no
additional nonpublic personal information will be collected about you.
We may disclose any of the above information that we collect about our customers or
former customers to our affiliates or to nonaffiliated third parties as permitted by law.
We also may disclose this information about our customers or former customers to the
following types of nonaffiliated companies that perform services on our behalf or with
whom we have joint marketing agreements:
• financial service providers such as companies engaged in banking, consumer finance,
securities and insurance.
Non-financial companies such as envelope stuffers and other fulfillment service
providers.
WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU
WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY
LAW.
We restrict access to nonpublic personal information about you to those employees who
need to know that information in order to provide products or services to you. We
maintain physical, electronic, and procedural safeguards that comply with federal
regulations to guard your nonpublic personal information.
-Commercial Title Insurance Solutions -Unparalleled Customer Service -Great Relationships
Rep—ring...
Ofd Republic National Tide lnrnronce Company • S#wort Tide Goommy Company
200 South Sixth Street • Suite 1300 • Minneapolis, Mlnnesota 55402 • 612/337-2470 • FAX: 61 2133 7-24 71
Commercial Partners Title, LLC
Fife No. 40123
Issued By Old Republic National Title Insurance Company
1�
Old Republic Naticnalrtla Insurance Company, a Minnesota 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 or the estate or interest in
the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with Ne Requirements; all subject to
the provisions of Schedules A and B and to the Conditions of this Commitment
This Commitment shal I 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 six 161 months 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, 01d Republic National 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. This Commitment shall not be valid or binding until countersigned by validating officer or authorized
signatory.
Nma:
Issued By:
Commercial Partners Title, LLC
200 South Sixth Street
Suite 1300
Minneapolis, MN 55402
Tel: (612) 337-2470
Fax: (612) 337-2471
File No. 40123
i
Adlhoritad Signal
OPT From 4708
ALTA 132=11menl It, No ksur Sus
C *mdw Deaipge
OLD REPUBLIC NATIONALTII LE INSURANCE COMPANY
A Stock Company
400 Serax Avenue South Mhwpcl/s Minnesma 55401
(677) 377-1111
By
President
Secretary
CONDMONS
t. The ten 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 fall to disclose such knowl-
edge to the Company In vaitino. the Company shall be relieved from liability fur 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. Lishility of the Company under this Commitment shell be only to the named proposed Insured and such parties included most 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 Ib) to eliminate excaprtans 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 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.
C This Commitment is a contract to Issue one or more tide 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 he
arbitrated stirs 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: http://www.alta.org/.
Papa2
ISSUED BY
COMMERCIAL PARTNERS TITLE, LLC
AS AGENT FOR
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
COMMITMENT NUMBER 40123
NOTES FOR INFORMATION
THE FOLLOWING IS PROVIDED FOR INFORMATIONAL PURPOSES AND WILL NOT APPEAR ON THE FINAL POLICY:
A. This Commitment was prepared by:
Commercial Partners Title, LLC
200 South Sixth Street, Suite 1300
Minneapolis, MN 55402
Phone: (612) 337-2470
Fax: (612) 337-2471
Please direct questions regarding this Commitment to: Doug Berg, Underwriting Attorney, at (612)
337-2475 and direct questions regarding the closing to: Michele Malacko, Commercial Closer, at (612)
337-2487.
If you would like to arrange for additional parties to receive this documentation, please contact our
Production Department at (612) 337-2470.
B. Upon our receipt and review of a standard form of affidavit disclosing no adverse matters, Item Nos. 1, 2,
3, 4, 5 and 6 of Schedule B will be deleted from the final policy. Item No. 8 will be modified to reflect the
interests of specific tenants.
C. Commercial Partners Title, LLC does not have the Abstract of Title for the subject property.
D. The legal description at Item No. 4 of Schedule A is related to the property address of 9170 Great Plains
Boulevard, Chanhassen, MN.
ALTA Commitment
Notes for Information (40123.PFD/40123/58)
ISSUED BY
COMMERCIAL PARTNERS TITLE, LLC
200 S. 6th St., Suite 1300, Minneapolis, MN 55402
AS AGENT FOR
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
Reference Name:Giannetti Properties, LLC
COMMITMENT
SCHEDULE A
1. Commitment Date: April 9, 2015 at 07:00 AM
2. Policy (or Policies) to be issued:
(a) Owner's Policy
Proposed Insured:
(b) Loan Policy
Proposed Insured:
To Be Determined
(c) Loan Policy
Proposed Insured:
ALTA Own. Policy (6/06)
ALTA Loan Policy (6/06)
ALTA Loan Policy (6/06)
File No. 40123
Amount
To Be Determined
3. The estate or interest in the land described or referred to in the Commitment and covered herein is a Fee
Simple, and title thereto is at the effective date vested in:
Giannetti Properties, LLC, a Minnesota limited liability company
4. The land referred to in this Commitment is described as follows:
SEE EXHIBIT A ATTACHED HERETO
ALTA Commitment Valid Only if Schedule B and
Schedule A (6-17-06) Cover are Attached
(40123. PFD/40123/58)
ISSUED BY
COMMERCIAL PARTNERS TITLE, LLC
AS AGENT FOR
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
COMMITMENT NUMBER 40123
EXHIBIT A
PROPERTY DESCRIPTION
The land referred to in this Commitment is described as follows:
All that part of the Northerly 730.00 feet of the North Half of the Southwest Quarter of Section 24, Township
116, Range 23, as measured along the West line thereof and lying Westerly of the centerline of State
Highway No. 101. The centerline of said Highway No. 101 is described as follows: Beginning at a point on the
North line of the Southwest Quarter of Section 24, Township 116, Range 23, a distance of 632.52 feet East of
the Northwest corner of said Southwest Quarter; the bearing of the North line of the Southwest Quarter is
assumed to be South 88 degrees 46 minutes 29 seconds East. Thence South 4 degrees 24 minutes 47
seconds West a distance of 413.72 feet; thence on a tangential curve, concave to the East having a central
angle of 11 degrees 38 minutes 21 seconds and a radius of 1962.29 feet a distance of 398.62 feet. Thence
South 7 degrees 13 minutes 34 seconds East tangent to the last described curve, a distance of 217.65 feet;
thence on a tangential curve, concave to the West having a central angle of 14 degrees 29 minutes 17
seconds and a radius of 1166.15 feet a distance of 294.88 feet, more or less, to a point on the South line of
the North Half of the Southwest Quarter of Section 24 and thence terminating said point distance 660.44 feet
Easterly of the Southwest corner of the North Half of the Southwest Quarter.
EXCEPTING THEREFROM Parcel 71C of the Minnesota Department of Transportation Right -of -Way Plat No.
10-19, as the same is on file and of record in the office of the County Recorder in and for Carver County,
Minnesota.
Carver County, Minnesota
Abstract Property
ALTA Commitment (40123.PFD/40123/58)
ExhibitA
ISSUED BY
COMMERCIAL PARTNERS TITLE, LLC
AS AGENT FOR
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
COMMITMENT NUMBER 40123
SCHEDULE B - PART I
REQUIREMENTS
Instruments creating and/or perfecting the priority of the estate or interest(s) to be insured, the form and
execution of which shall be satisfactory to the Company, must be executed, delivered and duly filed for record.
SCHEDULE B - PART II
EXCEPTIONS
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. Rights or claims of parties in possession not shown by the public records.
3. Any encroachment, encumbrance, violation, variation or adverse circumstance affecting the Title that
would be disclosed by an accurate and complete land survey of the Land.
4. Easements or claims of easements not shown by the public records.
5. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed
by law and not shown by the public records.
6. Taxes or special assessments which are not shown as existing liens by the public records.
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 payable in 2015 are $14,128.00 and are half paid.
Base tax $14,128.00 Property Identification No. 25.0242900
NOTE: There are no delinquent taxes of record.
B. There are no levied or pending assessments of record.
8. Rights or claims of tenants, as tenants only, in possession under unrecorded leases.
ALTA Commitment
Schedule B (6-17-06) (40123.PFD/40123/56)
ISSUED BY
COMMERCIAL PARTNERS TITLE, LLC
AS AGENT FOR
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
COMMITMENT NUM BER 40123
SCHEDULE B - Part II - EXCEPTIONS
(Continued)
9. In the event this transaction involves new construction or if there has been construction on the
property during the last six months, including any tenant improvements, please immediately contact
the closer or underwriting attorney listed in the Notes for Information page of this commitment to
discuss the transaction.
If the transaction involves a construction mortgage or is a vacant land acquisition mortgage no
construction related work can be performed on the property until after the mortgage is recorded and
pictures have been taken at the site, in order to establish priority for the construction mortgage.
Indemnities will be required at closing from the appropriate parties, depending upon the nature of the
transaction.
10. Submit the following documentation prior to closing for review and approval:
Copies of Good Standing Certificate for Seller and/or Buyer/Borrower and Resolutions authorizing both
the transaction and execution of documents (or incumbency certificate with the authorizing
resolutions), or other evidence acceptable to the Company.
11. Easement for pipeline, in favor of Great Lakes Pipe Line Co., as created in document dated July 25,
1954, filed August 28, 1954, as Document No. 86726.
Deeded to Williams Brothers Pipe Line Company by Deed dated March 15, 1966, filed April 4, 1966,
as Document No. 110063.
Amended by Partial Release of Right of Way dated March 6, 1985, filed April 1, 1985, as Document
No. 70394.
Amendment to Articles of Incorporation changing the corporate name from Williams Brothers Pipe Line
Company to Williams Pipe Line Company dated April 23, 1986, filed December 23, 1986, as Document
No. 83256, and Name Change from Williams Pipe Line Company to Williams Pipe Line Company LLC,
a Delaware Limited Liability Company dated April 23, 1986, filed December 23, 1986, as Document
No. 325662.
Quit Claim Deed with reservations in favor of the State of Minnesota dated July 20, 2007, filed August
27. 2007. as Document No. A470510.
12. Rights of State of Minnesota as shown in Minnesota Department of Transportation Right of Way Plat
No. 10-19 filed October 19, 2004, as Document No. 399300, and in Final Certificate filed August 27,
2009, as Document No. A506726.
ALTA Commitment
Schedule B (6-17-06) (40123.PFD/40123/58)
ISSUED BY
COMMERCIAL PARTNERS TITLE, LLC
AS AGENT FOR
OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
COMMITMENT NUMBER 40123
SCHEDULE B - Part II - EXCEPTIONS
(Continued)
13. 16.5 foot utility easement to Northwestern Bell as per Document No. 94211, as shown in Document
No. 399300.
14. Reservation of all minerals and mineral rights by the State of Minnesota, shown as an exception to title
on prior title insurance policy provided to Commercial Partners Title, LLC.
15. Subject to the following matters as shown on the survey prepared by Pioneer Engineering dated
February 7, 2007:
a) Existing driveway is located in the highway right of way.
b) Afence runs diagonally across the South property line. It is not clear whose fence it is and it may
signify that the adjoiners to the South may claim an interest in subject property.
c) There are overhead power lines along the North side of the property without an easement.
d) Highway right of way on the Northeast corner of the property without an easement.
END OF SCHEDULE B EXCEPTIONS
SEE ATTACHED FOR ADDITIONAL INFORMATION REGARDING THIS FILE
ALTA Commitment
Schedule B (6-17-06) (40123.PFD/40123/58)
EXHIBIT A
LEGAL DESCRIPTION
All that part of the Northerly 730.00 feet of the North Half of the Southwest Quarter of Section 24, Township
116, Range 23, as measured along the West line thereof and lying Westerly of the centerline of State Highway
No. 101. The centerline of said Highway No. 101 is described as follows: Beginning at a point on the North line
of the Southwest Quarter of Section 24, Township 116, Range 23, a distance of 632.52 feet East of the
Northwest corner of said Southwest Quarter; the bearing of the North line of the Southwest Quarter is
assumed to be South 88 degrees 46 minutes 29 seconds East. Thence South 4 degrees 24 minutes 47
seconds West a distance of 413.72 feet; thence on a tangential curve, concave to the East having a central
angle of 11 degrees 38 minutes 21 seconds and a radius of 1962.29 feet a distance of 398.62 feet. Thence
South 7 degrees 13 minutes 34 seconds East tangent to the last described curve, a distance of 217.65 feet;
thence on a tangential curve, concave to the West having a central angle of 14 degrees 29 minutes 17
seconds and a radius of 1166.15 feet a distance of 294.88 feet, more or less, to a point on the South line of
the North Half of the Southwest Quarter of Section 24 and thence terminating said point distance 660.44 feet
Easterly of the Southwest corner of the North Half of the Southwest Quarter.
EXCEPTING THEREFROM Parcel 71C of the Minnesota Department of Transportation Right -of -Way Plat No.
10-19, as the same is on file and of record in the office of the County Recorder in and for Carver County,
Minnesota.
Carver County, Minnesota
Abstract Property