Title Commitment v.3Fidelity National Title
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Order No.: 237841
2nd AMENDED 2/25/2016
COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
Effective Date: October 05, 2015, at 8:00 am Commitment No.: 237841
2. Policy or Policies to be issued:
ALTA Leasehold Owner's Policy - 2006
Proposed Insured: Chick-fil-A, Inc.
Amount: $2,575,000.00
The estate or interest in the land described or referred to in the Commitment and
covered herein is fee simple and is at the effective date hereof vested in:
Chanhassen Shoppes, LLC
4. The land referred to in this Commitment is situated in the County/Counties of
Carver, State of Minnesota, and is described as follows:
See Exhibit "A" attached hereto.
Note for Information: Property is Abstract
Fidelity National Title Insurance Company
Q� M)k V
Authorized Signature
Note: If there are any questions concerning the content of this Commitment, please contact Chris White, the Examiner, at 612-573-2595 or
at christooher.white�ctt.com.
Note: For assistance in obtaining copies of documents referred to in Schedule B, please contact us at (612) 573-2587 or at
COMMERCIALORDEM a QTT.COM.
ALTA Commitment - 2006 Page 1 of 7
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA
licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under.
license from the American Land Title Association
Order No.: 237841
Reference No.: atl-151337
SCHEDULE B - SECTION 1
REQUIREMENTS
The following are the requirements to be complied with:
1. Instrument creating the estate or interest to be insured must be executed and filed for record,
to -wit:
(a) Lease from the party described at Item 3 of Schedule A to the Proposed Insured
(Owner).
Note: Complete the Minnesota Electronic Certificate of Real Estate Value online at
(www. taxes. state.mn.us/cry/) and provide the Company with the following
information:
a. Receipt number for the Electronic Certificate of Real Estate Value; and
b. Printout of the completed Electronic Certificate of Real Estate Value
NOTE: The printout must be made when the form is completed. It cannot be
accessed after the preparer leaves the system. Once the eCRV is submitted online,
the ONLY way to go back in and edit is if you print off or write down the eCRV ID AND
the Edit pin (a box pops up with this information as soon as it is submitted). If
someone wants to start this ahead of time, they can always save a partial eCRV and
come back to it (again as long as they write down the ID number and pin).
Note: One of the following statements must be made within the deed: (1) The Seller
certifies that the Seller does not know of any wells on the described real property; (2)
A well disclosure certificate accompanies this document; or (3) I am familiar with the
property described in this instrument and I certify that the status and number of wells
on the described real property have not changed since the last previously filed well
disclosure certificate.
2. Pay the full consideration to, or for the account, of the grantors or mortgagors.
3. Pay all taxes, charges, assessments, levied and assessed against subject premises, which are
due and payable.
4. Tell us in writing the name of anyone not referred to in the Commitment who will get an
interest in the land or who will make a loan on the land. We may then make additional
requirements or exceptions.
5. If the transaction is closed by Fidelity National Title Insurance Company or its agents, the
Social Security Number of Seller or Federal ID Number of Seller entities and forwarding
address must be provided at or prior to closing to comply with the Tax Reform Act of 1986
and the 1099S Form executed at closing unless the Sellers is a corporation or a governmental
unit.
6. For all entities CONVEYING BORROWING OR LEASING, furnish formation and operational
documentation and a resolution authorizing the transaction, together with a certificate of
good standing from the State in which the entity was created (and in which the property is
located, if available);
ALTA Commitment - 2006 Page 2 of 7
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA
licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under
license from the American Land Title Association
Order No.: 237841
Reference No.: atl-151337
For all entities ACQUIRING PROPERTY FOR CASH, furnish formation and operational
documentation, together with a certificate of good standing from the State in which the entity
was created (and in which the property is located, if available).
Item Nos. 1, 2, 4 and 5 of Schedule B -Section 2 may be deleted from the final policy,
conditioned upon receipt and review of an executed standard form of the Company's affidavit
or affidavits.
8. Furnish a current, signed and dated, survey of the subject property, certified to Fidelity
National Title Insurance Company and conforming to all current Minimum Standard Detail
Requirements for the 2011 ALTA/ACSM Land Title Survey Standards to delete Item No. 3 of
Schedule B - Section 2.
END OF SCHEDULE B - SECTION 1
ALTA Commitment - 2006 Page 3 of 7
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA
licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under
license from the American Land Title Association
Order No.: 237841
Reference No.: atl-151337
SCHEDULE B - SECTION 2
EXCEPTIONS
The Policy or Policies to be issued will contain exception to the following 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.
7. Real estate taxes for 2015 due and payable in 2015 in the total amount of $47,838.00, are
paid in full.
Property Tax Identification No. 25.8900020.
Note: There are no delinquent taxes of record.
The above tax amount may include annual recurring fees charged by the municipality and/or
county, which are automatically certified to the real estate taxes.
8. Levied and pending special assessments hereafter levied.
9. There are no levied or pending special assessments now of record.
10. Rights of tenants in possession under the terms of unrecorded leases.
11. Terms and conditions of restriction as contained in Warranty Deed, dated September 4, 1970,
recorded September 11, 1970 as Document No. 09917.
12. Terms and conditions of Easement, dated September 19, 1975, recorded February 23, 1976
in Book 126 of Deeds, Page 3 as Document No. 28232.
13. (Intentionally Deleted).
14. Drainage and utility easements as shown on Plat of Zamor Addition, dated June 18, 1979,
recorded October 4, 1979 as Document No. 44313.
15. Terms and conditions of Agreement, dated December 26, 1979, recorded December 28, 1979
as Document No. 45523.
ALTA Commitment - 2006 Page 4 of 7
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA
licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under
license from the American Land Title Association
Order No.: 237841
Reference No.: atl-151337
16. Terms and conditions of Minnesota Department of Transportation Right of Way Plat No. 10-3,
recorded March 14, 1991, as Document No. 122284.
17. Terms and conditions of Cross Easement for Parking, dated July 17, 1996, recorded July 29,
1996 as Document No. 198692.
18. Combination Mortgage, Security Agreement, Fixture Financing Statement, and Assignment of
Leases and Rents, dated October 3, 1996, executed by Michael A. Ramsey and Jill S. Ramsey,
as Mortgagors, in favor of State Bank of Chanhassen, as Mortgagee, recorded October 7,
1996 as Document No. 201805, securing the original principal amount of $800,000.00.
19. Combination Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and
Rents, dated February 4, 2015, executed by Chanhassen Shoppes, LLC, a Minnesota limited
liability company, as Mortgagor, in favor of Bridgewater Bank, a Minnesota banking
corporation, as Mortgagee, recorded February 5, 2015 as Document No. 605309, securing the
original principal amount of $1,660,000.00.
20. The following matters shown on the ALTA/ACSM Survey prepared by Mark R. Salo through
Westwood Professional Services, Inc., dated February 3, 2016, last revised , as
Project/Job No.
a) Underground telephone crosses the Northern portion of the subject property without
the apparent benefit of an easement
21. Terms and conditions of Conditional Use Permit, recorded October 5, 1983 in Book 69 Misc,
Page 90 as Document No. 61557. (Parcel 3)
22. Terms and conditions of Conditional Use Permit, recorded August 23, 1984 in Book 79 Misc,
Page 276 as Document No. 67033. (Parcel 3)
23. Terms and conditions of Conditional Use Permit, recorded August 23, 1984 in Book 79 Misc,
Page 277 as Document No. 67034. (Parcel 3)
24. Terms and conditions of Contract for Private Redevelopment, dated September 11, 1990,
recorded April 30, 1991 as Document No. 123421. (Parcel 3)
25. Terms and conditions of Final Certificate, dated October 1, 1993, recorded October 27, 1993
as Document No. 157032. (Parcel 3)
26. Real Estate Mortgage, dated January 28, 2009, executed by Chanhassen Inn, Inc., a
Minnesota corporation, as Mortgagor, in favor of Beacon Bank, as Mortgagee, recorded
February 27, 2009 as Document No. 496011, seucring the original principal amount of
$250,000.00. (Parcel 3).
END OF SCHEDULE B - SECTION 2
ALTA Commitment - 2006 Page 5 of 7
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA
licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under
license from the American Land Title Association
Order No.: 237841
Reference No.: atl-151337
SCHEDULE B - SECTION 3
INFORMATION
1. 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.
2. In the event a zoning endorsement is requested, we will require a zoning letter from the
municipality or a zoning report specifying the current or proposed use, specifying the zoning
classification, and stating whether the property is in compliance with all applicable zoning
ordinances. Parking must be addressed in the letter or report if it is to be included in the
zoning endorsement.
ALTA Commitment - 2006 Page 6 of 7
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA
licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under
license from the American Land Title Association
Order No.: 237841
Reference No.: atl-151337
EXHIBIT A
A Lease between the Lessee and the Landlord as evidenced by the following documents
Lease, dated , 2015, by and between Chanhassen Shoppes, LLC, as Lessor, and Chick-
fil-A, Inc., as Lessee, recorded 2015 as Document No. ;
as to the following described property:
Parcel 1:
Lot 2, Block 1, Zamor Addition, according to the recorded plat thereof, Carver County, Minnesota;
EXCEPTING THEREFROM the following two tracts:
All that part of Lot 2, Block 1, Zamor Addition, according the recorded plat thereof, which lies
Easterly of the following described line: Commencing at the most Easterly corner of said Lot 2;
thence on an assumed bearing of North 85 degrees 10 minutes 11 seconds West, along the
boundary between said Lot 2 and Lot 1, Block 1, said Zamor Addition, for 154.54 feet to an angle
point in said boundary and the actual point of beginning of the line to be described; thence South
18 degrees 20 minutes 00 seconds East for 129.14 feet to the Southerly line of said Lot 2 and
there terminating;
and
That part of Lot 2, Block 1, Zamor Addition, shown as Parcel 208B on Minnesota Department of
Transportation Right of Way Plat No. 10-3 filed March 14, 1991, as Document No. 122284.
Parcel 2
Easement for parking as contained and described in Cross Easement for Parking dated July 25,
1996, filed July 29, 1998, as Document No. 198692.
Parcel 3:
Together with any benefits as set forth in Reciprocal Access Easement Agreement, dated
, 2016, recorded , 2016 as Document No.
Abstract Property
Copyright American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA
licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under
license from the American Land Title Association