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Owner Policy $35300000.00 Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 2 Policy Number: 842982-2 First American Title Insurance Company = SCHEDULE A First American Title Insurance Company Name and Address of Title Insurance Company: First American Title Insurance Company 1 First American Way Santa Ana, CA 92707 File No.: NCS-842982-2-MPLS Policy No.: 842982-2 Amount of Insurance: $35,300,000.00 Date of Policy: August 22, 2018 at 12:08 P.M. 1. Name of Insured: Chanhassen Frontier LLC, a Delaware limited liability company 2. The estate or interest in the Land that is insured by this policy is: Fee Simple as to Parcels 1, 2, and 3; Easements as to Parcels 4, 5, 6, 7, 8, and 9. 3. Title is vested in: Chanhassen Frontier LLC, a Delaware limited liability company 4. The Land referred to in this policy is described as follows: Real property in the City of Chanhassen, County of Carver, State of Minnesota, described as follows: Parcel 1: Lot 2, Block 1, Frontier Cinema Addition, Carver County, Minnesota. Parcel 2: Outlot A, Frontier Cinema Addition, Carver County, Minnesota, EXCEPT that part thereof now platted into Chanhassen Transit Station, described as follows: Commencing at the Southeast corner of said Outlot A, Frontier Cinema Addition, Carver County, Minnesota; thence North 00 degrees 33 minutes, 26 seconds West, an assumed bearing, along the East line of said Outlot A, a distance of 110.00 feet; thence North 17 degrees 52 minutes 40 seconds East along said East line of Outlot A, a distance of 6.11 feet to the point of beginning; thence North 11 degrees 09 minutes 45 seconds West a distance of 98.29 feet; thence North 78 degrees 50 minutes 15 seconds East a distance of 31.70 feet to said East line of Outlot A; thence southerly along said East line of Outlot A to the point of beginning. Parcel 3: Lot 3, Block 1, Chanhassen Transit Station, Carver County, Minnesota, EXCEPT that part of said Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 3 Policy Number: 842982-2 First American Title Insurance Company Lot 3 lying southerly of Lot 2, Block 1, said Chanhassen Transit Station, and easterly of the following described line: Beginning at the Northeast corner of Outlot A, Frontier Cinema Addition, said Carver County, Minnesota; thence North 00 degrees 33 minutes 27 seconds West, assumed bearing along the Northerly extension of the East line of said Outlot A, a distance of 40.00 feet; thence South 89 degrees 26 minutes 33 seconds West a distance of 54.37 feet to the southerly extension of the West line of said Lot 2; thence North 00 degrees 01 minutes 05 seconds West, along said line extended a distance of 78.92 feet to the southern most corner of said West line and said line there terminating. All Registered Property Certificate of Title no. 39785.0 Parcel 4: Non-exclusive easement for the benefit of Parcel 1 for the ingress and egress by vehicles and pedestrians as set forth in Access Easement Agreement dated April 7, 2004, recorded May 20, 2004, as Document No. A387172. Parcel 5: Non-exclusive easement for ingress and egress by vehicles and pedestrians as set forth in Access and Utility Easement Agreement, dated May 25, 2018, recorded May 30, 2018, as Document No. A662708. Parcel 6: Non-exclusive easement for ingress and egress by vehicles and pedestrians as set forth in Easement Declaration dated October 24, 1990, recorded October 30, 1990 as Document No. A119111, as amended by Easement Declaration (First Amendment), dated July 18, 1997, recorded July 24, 1997, as Document No. A213640, and further amended by Amendment No. 2 to Easement Declaration, dated, May 25, 2018, recorded May 30, 2018, as Document No. A662700. Parcel 7: Non-exclusive easement for parking by vehicles as set forth in Parking Easement Agreement, dated May 25, 2018, recorded May 30, 2018, as Document No. A662709. Parcel 8: Non-exclusive, temporary easement for ingress, egress and access for construction purposes as set forth in Temporary Construction Easement, and Demolition, Landscaping and Construction Agreement, and Landscaping Easement, dated May 25, 2018, recorded May 30, 2018, as Document No. A662712. Parcel 9: Non-exclusive easement for ingress and egress by vehicles and pedestrians as set forth in Access Easement Agreement, dated May 25, 2018, recorded May 30, 2018, as Document No. A662707. Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 4 Policy Number: 842982-2 First American Title Insurance Company SCHEDULE B File No.: NCS-842982-2-MPLS Policy No.: 842982-2 EXCEPTIONS FROM COVERAGE This Policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses that arise by reason of: 1. This item has been intentionally deleted. 2. This item has been intentionally deleted. 3. This item has been intentionally deleted. 4. This item has been intentionally deleted. 5. Any lien, or right to a lien, for services, labor or materials heretofore or hereafter furnished, to the extent such lien or claim of lien arises out of or is in connection with construction work performed on the Land by or at the request of the Insured, its contractors, subcontractors or agents. 6. This item has been intentionally deleted. 7. Real estate taxes and assessments both general and special payable in the second half of the year 2018 and subsequent years Tax Parcel No. 25.2830033 8. Special assessments levied after the date hereof. 9. Levied assessments for Downtown Transit Parking Ramp Improvement with a remaining balance in the amount of $10,946.44. An additional $11,603.22 has been certified for collection with the 2018 real estate taxes. Levied assessments for ReApportion - Downtown Transit Parking Ramp Improvement with a remaining balance in the amount of $70,358.70. An additional $74,580.23 has been certified for collection with the 2018 real estate taxes. Levied assessments for Downtown Parking Ramp Improvement with a remaining balance in the amount of $42,589.80. An additional $45,145.19 has been certified for collection with the 2018 real estate taxes. Levied assessments for Sewer Access Charge with a remaining balance in the amount of $1,826.25. An additional $730.50 has been certified for collection with the 2018 real estate taxes. There are no pending special assessments of record as of the date hereof. Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 5 Policy Number: 842982-2 First American Title Insurance Company 10. This item has been intentionally deleted. 11. Terms, conditions and easement for utility, street and drainage purposes, including any incidental rights, in favor of the City of Chanhassen, a Minnesota municipal corporation, as contained in the Easement Agreement dated July 31, 1987, recorded July 28, 1988 as Document No. A97955. 12. This item has been intentionally deleted. 13. Easements for driveway and parking purposes as contained in the Easement Declaration dated October 24, 1990, recorded October 30, 1990 as Document No. A119111. Above Easement Declaration was modified by Easement Declaration (First Amendment), dated July 18, 1997, recorded July 24, 1997, as Document No. A213640. Above Easement Declaration was modified by Amendment 2 to Easement Declaration, dated May 25, 2018, recorded May 30, 2018, as Document No. A662700. 14. This item has been intentionally deleted. 15. This item has been intentionally deleted. 16. Terms, conditions and easement for gas pipeline purposes, including any incidental rights, in favor of Minnegasco, a division of NorAm Energy Corp., a Delaware corporation, as contained in the Easement dated October 7, 1997, recorded November 5, 1997 as Document No. A217929. 17. This item has been intentionally deleted. 18. This item has been intentionally deleted. 19. This item has been intentionally deleted. 20. This item has been intentionally deleted. 21. Terms, conditions and easements for ingress, egress, access, parking and shelter purposes as contained in the Agreement for Easement Parking, Access, and Passenger Shelter, and Maintenance Obligations dated April 7, 2004, recorded May 20, 2004 as Document No. A387169. Above Agreement for Easement Parking, Access, and Passenger Shelter, and Maintenance Obligations was modified by Partial Release of Easements, dated January 4, 2010, recorded January 4, 2010, as Document No. A513004. Above Agreement for Easement Parking, Access, and Passenger Shelter, and Maintenance Obligations was modified by Release of Easements, dated January 4, 2010, recorded January 4, 2010, as Document No. A513005. 22. Terms, conditions and easement for access purposes as contained in the Access Easement Agreement dated April 7, 2004, recorded May 20, 2004 as Document No. A387172. 23. Easement for sanitary sewer and watermain purposes, including any incidental rights, in favor of the City of Chanhassen as contained in the Grant of Permanent Easement dated December 14, 2009, recorded December 29, 2009 as Document No. A512765. Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 6 Policy Number: 842982-2 First American Title Insurance Company 24. Easement for street, drainage and utility purposes, including any incidental rights, in favor of the City of Chanhassen as contained in the Grant of Permanent Easement dated December 14, 2009, recorded December 29, 2009 as Document No. A512766. 25. This item has been intentionally deleted. 26. Terms and conditions of the Public Improvement and Special Assessment Agreement dated November 23, 2009, recorded January 4, 2010 as Document No. A513009. 27. This item has been intentionally deleted. 28. This item has been intentionally deleted. 29. This item has been intentionally deleted. 30. Terms and conditions of the Special Assessment Agreement dated December 14, 2016, recorded April 18, 2018 as Document No. A660795. 31. Terms, conditions and easements as contained in the Access and Utility Easement Agreement dated May 25, 2018, recorded May 30, 2018 as Document No. A662708. 32. Terms and conditions of the Parking Easement Agreement dated May 25, 2018, recorded May 30, 2018 as Document No. A662709. 33. Terms, conditions and easements as contained in the Temporary Construction Easement, and Demolition, Landscaping and Construction Agreement, and Landscaping Easement dated May 25, 2018, recorded May 30, 2018 as Document No. A662712. 34. Terms, conditions and easements as contained in the Access Easement Agreement dated May 25, 2018, recorded May 30, 2018 as Document No. A662707. 35. Terms, conditions and easements as contained in the Access and Parking Easement Agreement dated May 25, 2018, recorded May 30, 2018 as Document No. A662710. 36. Terms and conditions of the Public Improvement and Special Assessment Agreement dated May 25, 2018, recorded May 30, 2018 as Document No. A662711. 37. Terms, conditions and obligations as contained in the Contract For Private Redevelopment dated May 25, 2018, recorded May 30, 2018 as Document No. A662713. 38. Terms, conditions and obligations as contained in the Stormwater Facilities Maintenance Declaration dated May 25, 2018, recorded May 30, 2018 as Document No. A662714. 39. Terms and conditions of the Declaration dated May 25, 2018, recorded May 30, 2018 as Document No. A662715. 40. Terms and conditions of the Site Plan Agreement #2017-11 dated June 10, 2017, recorded June 5, 2018 as Document No. A662994. 41. Terms and conditions of the unrecorded Lease dated on or about September 22, 2017, between Chanhassen Frontier LLC, a Delaware limited liability company, Landlord, and Aldi Inc. (Minnesota), a Minnesota corporation, Tenant, as evidenced by the Memorandum of Lease dated June 4, 2018, recorded June 5, 2018 as Document No. A662995. Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 7 Policy Number: 842982-2 First American Title Insurance Company 42. Mortgage, Security Agreement, Fixture Financing Statement and Assignment of Leases and Rents dated August 8, 2018 in the amount of $24,400,000.00 executed by Chanhassen Frontier LLC, a Delaware limited liability company for Bremer Bank, National Association, a national banking association recorded August 22, 2018 as Document No. T207476. Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 8 Policy Number: 842982-2 First American Title Insurance Company INDIRECT ACCESS AND ENTRY ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company insures against loss or damage sustained by the Insured if, at Date of Policy (i) the easement identified as Parcel 4 in Schedule A (the "Easement") does not provide that portion of the Land identified as Parcels 1 & 2 of the Land in Schedule A both actual vehicular and pedestrian access to and from Market Boulevard (the "Street"), (ii) the Street is not physically open and publicly maintained, or (iii) the Insured has no right to use existing curb cuts or entries along that portion of the Street abutting the Easement. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10046 (7-1-14) Page 8 of 21 ALTA 17.1-06 Indirect Access and Entry (6-17-06) CLTA 103.12-06 (6-17-06) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 9 Policy Number: 842982-2 First American Title Insurance Company DELETION OF ARBITRATION - ALTA OWNER'S POLICY ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS 1. The policy is hereby amended by deleting Paragraph 14 from the Conditions of the policy. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10879 (7-1-14) Page 9 of 21 Deletion of Arbitration - ALTA Owner's Policy (6-05) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 10 Policy Number: 842982-2 First American Title Insurance Company COVENANTS, CONDITIONS AND RESTRICTIONS - UNIMPROVED LAND - OWNER’S POLICY ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS 1. The insurance provided by this endorsement is subject to the exclusions in Section 4 of this endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy. 2. For the purposes of this endorsement only, "Covenant" means a covenant, condition, limitation or restriction in a document or instrument in effect at Date of Policy. 3. The Company insures against loss or damage sustained by the Insured by reason of: a. A violation on the Land at Date of Policy of an enforceable Covenant, unless an exception in Schedule B of the policy identifies the violation; or b. A notice of a violation, recorded in the Public Records at Date of Policy, of an enforceable Covenant relating to environmental protection describing any part of Parcels 1 through 3 of the Land and referring to that Covenant, but only to the extent of the violation of the Covenant referred to in that notice, unless an exception in Schedule B of the policy identifies the notice of the violation. 4. This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys’ fees, or expenses) resulting from: a. any Covenant contained in an instrument creating a lease; b. any Covenant relating to obligations of any type to perform maintenance, repair, or remediation on Parcels 1 through 3 of the Land; or c. except as provided in Section 3.b, any Covenant relating to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 11 Policy Number: 842982-2 First American Title Insurance Company Form 50-10800 (7-1-14) Page 11 of 21 ALTA 9.1-06 Covenants, Conditions and Restrictions, Unimproved Land - Owner's Policy (Rev. 4-2-12) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 12 Policy Number: 842982-2 First American Title Insurance Company COMMERCIAL ENVIRONMENTAL PROTECTION LIEN ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company insures against loss or damage sustained by the Insured by reason of an environmental protection lien that, at Date of Policy, is recorded in the Public Records or filed in the records of the Clerk of the United States District Court for the district in which the Land is located, unless the environmental protection lien is set forth as an exception in Schedule B. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10021 (7-1-14) Page 12 of 21 ALTA 8.2-06 Commercial Environmental Protection Lien (10-16-08) CLTA 110.9.1-06 (10-16-08) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 13 Policy Number: 842982-2 First American Title Insurance Company SINGLE TAX PARCEL ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company insures against loss or damage sustained by the Insured by reason of the Land being taxed as part of a larger parcel of land or failing to constitute a separate tax parcel for real estate taxes. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10048 (7-1-14) Page 13 of 21 ALTA 18-06 Single Tax Parcel (6-17-06) CLTA 129-06 (6-17-06) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 14 Policy Number: 842982-2 First American Title Insurance Company SUBDIVISION ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company insures against loss or damage sustained by the Insured by reason of the failure of the Land to constitute a lawfully created parcel according to the subdivision statutes and local subdivision ordinances applicable to Parcels 1 through 3 of the Land. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10061 (7-1-14) Page 14 of 21 ALTA 26-06 Subdivision (10-16-08) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 15 Policy Number: 842982-2 First American Title Insurance Company SAME AS SURVEY ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company insures against loss or damage sustained by the Insured by reason of the failure of the Land as described in Schedule A to be the same as that identified on the survey made by Sambatek, Inc. dated August 8, 2018, and designated Job No. 21363. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10059 (7-1-14) Page 15 of 21 ALTA 25-06 Same as Survey (10-16-08) CLTA 116.1-06 (10-16-08) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 16 Policy Number: 842982-2 First American Title Insurance Company ZONING ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS 1. The Company insures against loss or damage sustained by the Insured in the event that, at Date of Policy, a. According to applicable zoning ordinances and amendments, Parcels 1 through 3 of the Land are not classified Zone Central Business District, CBD, with a comprehensive plan designation of commercial; b. The following use or uses are not allowed under that classification: retail and apartment buildings with underground parking 2. There shall be no liability under this endorsement based on a. Lack of compliance with any conditions, restrictions, or requirements contained in the zoning ordinances and amendments, including but not limited to the failure to secure necessary consents or authorizations as a prerequisite to the use or uses. This paragraph 2.a. does not modify or limit the coverage provided in Covered Risk 5. b. The invalidity of the zoning ordinances and amendments until after a final decree of a court of competent jurisdiction adjudicating the invalidity, the effect of which is to prohibit the use or uses. c. The refusal of any person to purchase, lease or lend money on the Title covered by this policy. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10003 (7-1-14) Page 16 of 21 ALTA 3-06 Zoning (6-17-06) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 17 Policy Number: 842982-2 First American Title Insurance Company CONTIGUITY - MULTIPLE PARCELS ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company insures against loss or damage sustained by the Insured by reason of: 1. the failure of the Western boundary of Parcel 3 of Land to be contiguous to the Eastern boundary of Parcel 1 of the Land; or 2. the failure of the Southern boundary of Parcel 3 of the Land to be contiguous to the Northern boundary of Parcel 2 of the Land; or 3. the failure of the Eastern boundary of Parcel 1 of the Land to be contiguous to the Western boundary of Parcel 2 of the Land; or 4. the presence of any gaps, strips, or gores separating any of the contiguous boundary lines described above. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10050 (7-1-14) Page 17 of 21 ALTA 19-06 Contiguity - Multiple Parcels (6-17-06) CLTA 116.4.1-06 (6-17-06) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 18 Policy Number: 842982-2 First American Title Insurance Company UTILITY ACCESS ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company insures against loss or damage sustained by the Insured by reason of the lack of a right of access to the following utilities or services: [CHECK ALL THAT APPLY] x Water service x Natural gas service x Telephone service x Electrical power service x Sanitary sewer x Storm water drainage either over, under or upon rights-of-way or easements for the benefit of Parcels 1 through 3 of the Land because of: (1) a gap or gore between the boundaries of Parcels 1 through 3 of the Land and the rights- of-way or easements; (2) a gap between the boundaries of the rights-of-way or easements; or (3) a termination by a grantor, or its successor, of the rights-of-way or easements. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10047 (7-1-14) Page 18 of 21 ALTA 17.2-06 Utility Access (10-16-08) Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 19 Policy Number: 842982-2 First American Title Insurance Company FAIRWAY - CHANGE IN MEMBERS. LLC ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS The Company hereby agrees with the insured that this Policy and the coverage provided to the insured hereunder shall not be deemed to have lapsed, or to have been forfeited, or to have terminated because of the occurrence, subsequent to the Date of Policy, of either of the following events (provided that the insured limited liability company has not been dissolved or discontinued by reason of the following events pursuant to applicable state law): 1. the admission or withdrawal of any individual or entity as a member in the insured limited liability company, or 2. a change in any member's interest in capital or profits of the insured limited liability company. Nothing contained herein shall be deemed to be a waiver of any rights the Company may otherwise have under this Policy. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 20 Policy Number: 842982-2 First American Title Insurance Company Form 50-10523 (7-1-14) Page 20 of 21 FA Special - Fairway - Change in Members, LLC Form No. 1402.06 ALTA Owner's Policy (6-17-06) Policy Page 21 Policy Number: 842982-2 First American Title Insurance Company POLICY AUTHENTICATION ENDORSEMENT Issued by First American Title Insurance Company Attached to Policy No.: 842982-2 File No.: NCS-842982-2-MPLS When the policy is issued by the Company with a policy number and Date of Policy, the Company will not deny liability under the policy or any endorsements issued with the policy solely on the grounds that the policy or endorsements were issued electronically or lack signatures in accordance with the Conditions. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. Date: August 22, 2018 Form 50-10899 (7-1-14) Page 21 of 21 ALTA 39.0-06 Policy Authentication (4-2-13)