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ALTA COMMITMENT FOR TITLE INSURANCE <br />SCHEDULE B PART I <br />ISSUED BY <br />STEWART TITLE GUARANTY COMPANY <br />Commitment Number: 619192 <br />This page is only a part of a 2016 ALTA® Commitment for Title Insurance. This Commitment is not valid without the Notice; the Commitment to <br />Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I - Requirements; and Schedule B, Part II - Exceptions; and a <br />countersignature by the Company or its issuing agent that may be in electronic form. <br />Copyright 2006-2016 American Land Title Association. All rights reserved. <br />The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. <br />All other uses are prohibited. Reprinted under license from the American Land Title Association. <br />LT File No. : 619192 <br />008-UN ALTA Commitment For Title Insurance 8-1-16 <br />Page 6 of 8 <br />SCHEDULE B, PART I <br />Requirements <br />All of the following Requirements must be met: <br />A.The Proposed Insured must notify the Company in writing of the name of any party not referred to in this <br />Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may <br />then make additional Requirements or Exceptions. <br />B.Pay the agreed amount for the estate or interest to be insured. <br />C.Pay the premiums, fees, and charges for the Policy to the Company. <br />D.Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, <br />must be properly authorized, executed, delivered, and recorded in the Public Records. <br />E.The record does not disclose any open mortgages. Confirmation of this must be made prior to closing. <br />F.The legal description provided, and described under Schedule A herein, is based on a Minnesota Department <br />of Transportation Monumentation Plat No. 27-M16 filed as Document Number 8207422. The State of <br />Minnesota took title to the subject property using a different legal description as described in Trustee's Deed <br />filed September 13, 2002 as Document Number 7814185. Therefore, we require approval from Hennepin <br />County as to the legal description contained herein prior to closing. <br />G.Satisfactory evidence of the authority of the person(s) signing on behalf of the State of Minnesota is required <br />prior to closing. <br />H.Quit Claim Deed from the State of Minnesota to the City of Orono, a Minnesota municipal corporation. <br />I.The standard form of Seller's and/or Purchaser's Affidavit, satisfactory to the Company, will be required.