6. Title CommitmentI
entmtComm
ALTA Commitment for Title Insurance
ISSUED BY
First American Title Insurance Company
File No: NCS-1057136-MPLS
COMUTTiTENT FOR, TTTLE INSURANCE
Issued By
EIRST AMERTCAN TITLE INSURANCE COMPANY
NOTICE
IMPORTANT-READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TTTLE INSURANCE
POUCIES, ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLUNG THE CONTENT OF TH]S
COMMITMENT OR THE POUCY MUST BE BASED SOLELY IN CONTRACT.
THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDMON OF TME, LEGAL OPINION,
OPINION OF TITLE, OR OTHER REPRESENTANON OF THE STATUS OF TTTIE. THE PROCEDURES USED BY THE
COMPANY TO DETERMINE INSURABIUTY OF THE TITI.f, INCLUDING ANY SEARCH AND EXAMINATION, ARE
PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO
EXTRACONTRACTUAL LI,ABIUTY TO ANY PERSON, INCLUDING A PROPOSED INSURED.
THE COMPANY'S OBUGATION UNDER THIS COMMITMENT IS TO ISSUE A POUCY TO A PROPOSED INSURED
IDENTIFIED IN SCHEDULE A IN ACCORDANCE WTft THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE
COMPANY HAS NO UABIUTY OR OBUGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER
PERSON.
COMITITTMENT TO ISST,E POLICY
Subject to the Notice; Sdredule B, Part l-Requirements; Schedule B, Part Il-Exceptions; and the C-ommitment Conditions,
Firrt Ameri@n Tide fnsurane Company, a Nebraska Corporation (the "Company"), commits to issue the Policy
according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date
shown in Schedule A for each Policy dexribed in Schedule A, only when the Company has entered in Schedule A both the
specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured.
If all of the Schedule B, Part I-Requirements have not been met within six months after the Commitment Date, this
Commitment terminates and the Company's liability and obligation end.
ah-l /r{,/*n*x*l*
oannii J Glra.. Prrdd.it OaO t Snlll Sacr.ary
If thisjacket was deated €lectronically, it constitutes .n original documenL
This page 6 only a @rt ofa 2016 ALTA@ Connituent for fide Insurdrce igJd W Firn Amen@n nde lnsunnce Conpany. This Commibnent is not
valid Mttout be oi:ce; the Commibnent to Issue Policy; the Comnidnent Cot ditjorg; dule A; kheduh B, pa,t !*equirenents; Sdrdub q patt
If-Acepb:orE.
Copyrlght 2006-2016 Americ.n L.nd Tlde Airoci.tior. All righE r€se ad,
The use of this Form (or any derivalive thereo0 is restricted to ALTA licensees and ALTA members in good standing as of tle date of u5€. All oth€r uses
are prohibited, Reprinted und€r license from tr|e American Land l]de Associaton.
Form 50012227 (8-14-18)
faoe
t or s ALTA Commiunent fur Title Insurance (8-l-161
Minn€sob
Flrst Ameficen fltte hsurance Company
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SNOIJ.IONO) INl9,lIIl{y{O)
6, LIABILITY OF THE COi{PA'{Y MUST BE BASED ON THIS COiIMITME] T
(a) Only a Proposed Insured identified in Schedule A, and no other person, may make a chim under this Commitment.
(b) Any claim must be based in contract and must be restrictd sohly to the terms and provisions of this C-ommitment.
(c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entjre agreement htween the parties with
resp€ct to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and
proposals of any kind, whether written or oral, express or implied, relating to the subiect matter of this Commitment.
(d) The deletion or modification of any Schedule B, Part Il-{xception does not constitute an agreement or obligation to provide
coverage hyond the terms and provisions of this Commitrnent or the Policy.
(e) Any amendment or endorsement to this Commitment must be in wribng and authenticated by a person authorized by the
Company.(0 when the Policy is issued, all liability and obligation under this Commitment will end and the Compan/s onv liability will be
under the Policy.
7. IF THIS CO]TIMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT
The issuing agent is the Company's agent only for the limited purpose of issuing tide insurance commitments and policies. The
issuing agent is not the Compan/s agent for the purpose of providing closing or settlement services.
8. PRO.FORMA PIOLICY
The Company may provide, at the request of a Proposed Insured, a pro-forma policy illu*rating the coverage that the Company
may provide. A pro-forma policy neither reflects the status of Trtle at the time that the pro-forma policy is delivered to a Proposed
Insured, nor is it a commitment to insure.
lhis Ngc is only a patt ofa 2016 ALTA@ Conmituent for nde Insurance isJed by Firrt Amed@n nde Insurance Conpany. This Commiznent is not
valid without tlE tlob:ce; the Connibnent to Isstr'e- Policy; the ConnihrEnt bnditions; Wule A; gtdule B, patt t-RequiemalE; Sfuute B, patt
II-Frcqb:ot6.
Copyrlght 2006-2016 Amcric.r L.nd T.ide Assod.tion. All rights Eserved.
The use of this Form (or any derivative the{eoo is restsicted to ALTA licensees and ALTA members in good danding as of the date of use. All ou|er uses
are prohibited. Reprinted under license from the American Land TiUe Assocjation.
Form 50012227 (8-14-18)F'-ALTA Co.nmih€ot tor TiUe Insurance (8-1-16)
Minnesota
9. ARBITRATION
The Policy contains an arbitration chuse. All arbitrable rnatters when the Proposed Policy Amount is $2,000,000 or less shall be
arbitrated at the option of either the Company or the Proposed lnsured as the exclusive remedy of the parties. A Proposed tnsured
may review a copy of the arbiuation rules at http://www.alta.oro/arbitrdtion.
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10.Exisung access control as shown on Minnesota Department of Transportation Right of Way plat No.
10-17 recorded October 19,2004, as Document No. A399301.
11.Development Contract by and between the City of Chanhassen, a Minnesota municipal corporation,
and Kraus-Anderson Incorporated, a Minnesota corporation, dated May 27, 2008, recorded June 2,
2008, as Document No. 4484405.
Amended by Amendment "A" to Crossroads of Chanhassen Development Contract dated luly 29,
2008, recorded 9rptember 8. 2008, as Document No. A288856.
Atrected by Partial Release dated April 12, Z013, recorded July 3. 2013, as Document No. A57ggg7.
72.Declaration of Easements, covenants and Restrictions dated september 29, 2008, recorded october
3, 2008, as Document No. A490037.
Amended by First Amendment to Declaration of Easements, Covenants and Restrictions dated May 9,
2013, recorded May 13, 2013, as Document No. A576723.
13. Restrictions dated May 25, 2012, recorded May 29, 2012, as Document No. A555760
14.Site Plan Agreement by and between the City of Chanhassen, a Minnesota municipal corporation, and
Kraus-Anderson, Inc., a Minnesota corpoEltion, dated March 25,2073, recorded May 28, 2013, as
Document No. 4577566.
Mortgage. Security Agreement, Fixture Financing Staternent and Assignment of Leases and Rents
executed by Kraus-Anderson, Incorporated, a Minnesota corporation. dated lune 13,2013, recorded
July 3, 2013, as Document No. A5799qq, in the original principal amount of $2,1100,000.00, in favor
of Bremer Bank, National Association, a national banking association.
Amended by Amendment to Mortgage, Security Agreement, Fixture Financing Statement and
Assignment of Leases and Rents dated lune 13, 2019, recorded August 6, 2019, as Document No.
A681065.
16 Unrecorded Small Town Retail Lease dated November 8, 2012, by and between Kraus-Anderson,
Incorporated, a Minnesota corporation, as Landlord, and McDonald's USA, LLC, a Delaware limited
liability company, as Tenant, as evidenced of record by Memorandum dated April 9, 2013, recorded
April 30, 2013, as Document No. A575945.
Subordinated to the lien of the mortgage recorded as Document No. A529988 by Subordination, Non-
Disturbance and Attomment Agreement and Estoppel certificate dated June 13, 2013, recorded July
3, 2013, as Document No. A579989.
Affected by Supdement to Lease dated lanuary 31,2014, recorded April 3, 2014, as Document No.
As92266.
!7,Unrecorded lease by and between Kraus-Anderson, Inc., as Landlord, and Subway Real Estate, LLC,
as Tenant, as evidenced of record by Memorandum of Lease dated December 9, 2008, recorded April
7, 20L4, as Document No. A592435.
18. Rights of tenants under unrecorded leases.
This page b only a part of a 2016 ALTA@ Conmibnent for Ttde lnsurance i's,d by Fitst Amerkzn fde lrEunnce Conqny. This ConmituE rt is not
valid without the l\otice; the Com,nibrent b t$LE tulky; the bmnibent Conditions; Sdrdde A; Sdldde e Patt l-RquircnenE; SMule 8, Paft
II-Exceptions.
Copyright 2qr6-2016 American Land Ird€ Assodatlon. All rights rctcryed.
The use of $is Form (or any derivative thereo0 is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses
are prohibited. Reprinted under license from the Arn€rican Land T'ide Associauon.
Form 50012227 (8-14-18)
f"s.
a
"r
s ALTA Cornmiunent for TiUe Insurdnce (8-1-16)
lilinn€sob
15.
Restrictions contained in Restrictjve Use Covenant dated Apnl - 2021, recorded
-
- 2021,
as Document No.
-.Easements, covenants, and restrictions contained in Declaration of Easements, Covenants and
Restrictions dated
-
- 2021, recorded
-
- 202L, as Document No.
-.
This Nge is only a patt of a 2016 AITA@ Connibnent for nde lnsurance isred bl Fid AnEri@n ntle l$tnance Amqny, fhis hmmibnent is tpt
yalid without the llotice; the Commidnent to IsL,e Poliry dE Connitueot Cooditions; Sdredule A; Sdldule B, Part l-Rquirenenb; Sdtdule B, Part
I-Exceptions,
Copyright 2005-2016 Arncrk n Land Tiiuc Airodatioo. All rights rrserved.
The use of this Form (or any derivative ther€oo is restuicted to ALTA licensees and ALTA members in good standing as of th€ date of use. All other uses
are prohibited. Reprinted under liceose from the American Land TiUe Associatioo.
Form 50012227 (8-1+18)
faee
e of e ALTA Commitrnent for Tlde Insurarrce (8-1-15)
Minn€sota
19.
20.