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File No.: 13780-Amended No. 4 <br />COMMITMENT FOR TITLE INSURANCE <br />SCHEDULE B <br />PART II <br />Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are <br />disposed of to the satisfaction of the Company: <br />1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public <br />records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value <br />of record the estate or interest or mortgage thereon covered by this Commitment. <br />2. Rights or claims of parties in possession, not shown by the public records. <br />3. Easements or claims of easements or other boundary or location disputes, not shown by the public records. <br />4. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate <br />survey or inspection of the Land. <br />5. Any lien, or right to a lien, for services, labor, or material hereto or hereafter furnished, imposed by law and not <br />shown by the public records. <br />6. Taxes or special assessments which are not shown as existing liens by the public records. <br />7. Minerals of whatsoever kind, subsurface and surface substances, including but not limited to coal, lignite, oil, gas, <br />uranium, clay, rock, sand and gravel in, on, under and that may be produced from the Land, together with all <br />rights, privileges, and immunities relating thereto, whether or not appearing in the Public Records or listed in <br />Schedule B. The Company makes no representation as to the present ownership of any such interests. There <br />may be leases, grants, exceptions or reservations of interests that are not listed. <br />8. Right of way of Bayside Road as shown by existing maps and plats. <br />NOTE: The policy(s) to be issued will insure the above GAP period between the effective date of this Commitment and the <br />recording date of the document(s) establishing the proposed insured's estate, interest, or mortgage provided that <br />Watermark Title Agency closed this transaction. IF THE GAP PERIOD IS TO BE INSURED THIS TRANSACTION MUST <br />BE CLOSED BY WATERMARK TITLE AGENCY. <br />Copyright 2006-2009 American Land Title Association. All rights reserved. <br />The use of this Form is restricted to ALTA licensees and AL TA 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 />File No. 13780 <br />MN STG AL TA Commitment Sch B II <br />Page 1 of 1 STEWART TITLE <br />GUARANTY COMPANY