HomeMy WebLinkAboutDevelopment ApplicationCITY OF OAK PARK HEIGHTS *DEVELOPMENT APPLICATION
14168 Oak Park Boulevard
P.O. Box 2007
Oak Park Heights, MN 55082
(651) 439-4439 Fax: (651) 439-0574
Street Location of Property 1 4 702 &
Legal Description of Property
Owner: Name Jacob Holdin
Osgood Avenue LLC
Address:
r-
J For
City: Minneapolis
Base Fee: .11-410
Escrow Amount: Ise( Cx0C
14738 60th Street
North
See Exhibit A attached hereto
s of 60th Street LLC and Jacob Holdings of
w
State: MN Zip: 55426
Telephone: (Home) (Business) 952 512 8800
(Fax) 952 512 8934 (Other)
Applicant: Name Jacob Holdings of 60th Street LLC
Address: 500 Ford Road
City: lUnneapo1is State: MN
Ovirre'r/Appticant Initials
Zip: 5542_6_
Telephone: (Home) (Business) 952 512 8800
(Fax) 952,512 8934 (Other)
Type of Request(s)
Zoning District Amendment
Conditional Use Permit Amendment
Variance: Single Family Residential
Variance: Other Residential/Commercial/industrial
Subdivision
Subdivision: Minor
Comprehensive Plan Amendment
Description of Request(s):
Extension of completion dates from 12/31/08
condition #12 & last two setences of #16 of
Home Occupation
Site Plan Review
PUD: Amendment
PUD: Concept Plan
PUD: General Plan
'Street Vacation
City Financial Assistance
z Q :4
oF3_ 05
to 12/31/09 & deletion of
existing condtional use
-
If a request for planning/zoning action on the subject site or any part thereof has been
previously approved, please describe it below:
Development Application, Page 2
Application Review
The undersigned acknowledges that before this request can be considered and /or approved, ail
required information and fees, including any deposits, must be paid to the City. An incomplete
application will be returned to the applicant. The application approval process commences and
an application is considered complete when all required information and fees are submitted
appropriately to the City.
Professional Fee Responsibility
It is the understanding of the undersigned that all City incurred professional fees and expenses
associated with the processing of this request(s) will be promptly paid upon receipt. If payment
is not received from the applicant, the property owner acknowledges and agrees to be
responsible for the unpaid fee balance either by direct payment or a special assessment
against the property.
Applicants will be billed on a monthly basis for Planning, Engineering, Legal and Community
Development fees as they are accrued. It is understood that interest will be charged on the
account at the maximum rate allowed by the Fair Credit Act if it becomes thirty (30) days past
due. Failure to pay administrative and processing fees in a timely manner may result in denial
of the application. All fees must be paid at the time of application and shall be paid prior to the
issuance of a building permit.
The undersigned applicant further acknowledges and consents that all unpaid fees owing the
City of Oak Park Heights shall be treated as unpaid utility fees and may be certified for
collection as with delinquent utility billings and may be assessed against the subject real
property if unpaid by October 31 of each year.
Property Address
14702 & 14738 60th Street North
IJAP0BJ HOLDING
w
Applicant Signature
& Additional owner
F OS d OD /AVENUE LLC
Signature Pontr oiler
HOLDO I NG �: ' . y -:
�' b��� .�.. - � � - ,EET LLC
, w I— ;-
Controller
General Conditions
Date: 5/5/08
Date: 5/5/08
EXHIBIT A :_...._ __
r 1 /1.1.,`,f ,oea...�r c �- / 476 �.. 6 ,5rerr .
Pa c,. 1: .
Block 4, Summit Park, Washington County, Minnesota, excepting therefrom the East 362.80 feet thereof.
Together with the South One -Half of vacated Clara Street lying between the West line of South Fourth
Street and the East line of Meridian Street, now know as Oren Avenue, except the East 362.80 feet
thereof.
(Torrens Certificate of Title No. 55715), P/ ? i0" 9 -030 - Ro - c1.3 - oo 3 c
Parcel 2; /4cIc.• /,'drib./ L.r'i
l f _Blrocks 5 _aria Summit.-Park ex ept the _East 1$Lfeet themof,_exctg .thatpa,ftaken_for highw y ---
also together with vacated Willim Street and the South Half of vacated Myron Street accruing thereto,
together with an easement for ingress and egress over and across the Westerly driveway located on the
East 181 feet of said Blocks 5 and 8 of Summit Park, Washington County, Minnesota.
(Abstract) , /N# 33 -036 ' Ao - - Qd V 2
( t)
Parcel 4: j/f MOP ,4t /4'73r 66/4 5Irpcf X)C1I
All that part of Blocks 5 and 8 and all that part of vacated Willim St. adjacent to said Blocks, of the Plat
of Summit Park, as the same is on file and of record in the Office of the Register of Deeds in and for
Washington Co., Minnesota, more particularly described as follows, to -wit:
Commencing at the intersection of the centerline of the vacated Myron St with the Westerly line of
South 4 Street of the Plat of Summit Park, Washington County, Minnesota, thence South along said
Westerly line of South 4th St, on an assumed bearing of South 0 degrees 15 minutes 20 seconds East for
213.30 feet to the point of beginning of this description; thence North 89 degrees 54 minutes 57 seconds
West, parallel with said centerline of Myron St. for 181.00 feet; thence South 0 degrees 15 minutes 20
seconds East, parallel with said Westerly line of South 4th St. for 160.46 feet to its intersection with the
new proposed right -of -way of Minn. Hwy. 212; thence North 59 degrees 04 minutes 36 seconds East
along said new proposed right-of-way of Minn. Hwy. 212 for 82.55 feet; thence North 72 degrees 21
minutes 15 seconds East along said new proposed right :of ray of Minp Hwy 212 for L1 5.26 feet to said
Westerly line of South, 4th St.; thence North 0 degrees 15 minutes 20 seconds West along said Westerly
line of South 4th St. for 82 :83 feet to the point of beginning.
Except that part of Block 5, Summit Park, according to the plat on file in the office of the County
Recorder, Washington County, Minnesota described as follows:
Commencing at the Northeast corner of said Block 5; thence South 01 degree 00 minutes 33 seconds
East, assumed bearing along the East line of said Block 5 a distance of 181.30 feet to the South line of
the North 1 81.30 feet of said Block 5; thence South 89 degrees 19 minutes 13 seconds West along said
South line 103.52 feet; thence South 82 degrees 26 minutes 25 seconds East 1630 feet to the South line
of the North 183.30 feet of the Block 5 and the point of beginning; thence continue South 82 degrees 26
minutes 25 seconds West 61.29 feet to the West line of the East 1 81.00 feet of said Block 5; thence North
01 degree 00 minutes 33 seconds West along said West line 7.34 feet to said South line of the North
183.30 feet of said Block 5; thence North 89 degrees 19 minutes 13 seconds East along said South line
60,90 feet to the point of beginning.
AND
That part of Block 5, Summit Park, according to the plat on file in the office of the County Recorder,
Washington County, Minnesota described as follows:
Commencing at the Northeast corner of said Block 5; thence South 01 degree 00 minutes 33 seconds
East, assumed bearing, along the East line of said Block 5 a distance of 181.30 feet to the South line of
the North 181.30 feet of said Block 5 and the point of beginning; thence South 89 degrees 19 minutes 13
seconds West along said South line 103.52 feet; thence South 82 degrees 26 minutes 25 seconds West
16.70 feet to the South line of the North 183.30 feet of said Block 5; thence North 89 degrees 19 minutes
13 seconds East along said South line 120.10 feet to said East line of Block 5; thence North 01 degree 00
minutes 33 seconds West along said East line of Block 5 a distance of 2.00 feet to the point of beginning.
(Abstract)
(The description of the land constitutes a split of an existing tax parcel. The approval of the appropriate
municipality and /or the Registrar of Titles, if necessary, for that split must be obtained and submitted to
the Company for examination and possible further requirements at least two working days prior to the
closing. The real estate taxes for the entire year in which a tax split takes place must be paid in full.)
P /Af 46 3 0 3o 5ea - 6947
CONTACT INFORMATION LIST
OWNERJAPPLICANT:
Name: Barbara Jerich — President of Automotive Dealerships
Address: % Denny Hecker's Automotive Group, 500 Ford Road, Minneapolis,
Minnesota 55426
Telephone No. 952 - 512 -8800
Fax No. 952 -512 -8942
E -mail address: Bjerich@dennyhecker.com
Name: Jean Schuldt -- Owner/Application Assistant
Address: % Denny Hecker's Automotive Group, 500 Ford Road, Minneapolis,
Minnesota 55426
Telephone No. 612-703-2706
Fax No. 952 -512 -8942
E -mail address: j . schuldt cicomcast.net
ALFA Commitment Schedule A
SCHEDULE A
Order Number: I29819 REVISED: 21512008
1. Effective Date: January 10, 2008 at 7 :00 A.M.
2. Policy or Policies to be issued:
(a) ALTA Owner's 2006
Proposed Insured: Crown Brawley LLC, a Minnesota limited liability
company
Amount of Insurance
$5,210,000.00
(b) ALTA Loan 2006
Proposed Insured: NONE
3. The estate or interest in the land described or referred to in this Comrnitment and covered herein is
fee simple and is at the effective date hereof vested in:
Parcels 1 and 2: Jacob Holdings of 60 Street LLC, a Minnesota limited liability company
Parcel 4: Erickson Post Acquisition, Inc., a Minnesota corporation, subject to an unrecorded
Purchaser's contract for deed interest in favor of Jacob Holdings of Osgood Avenue, LLC, a
Minnesota limited liability company
4. The land referred to in this Commitment is located in the County of Washington, State of Minnesota,
and described as follows:
SEE ATTACHED EXHIBIT A
STEWART TITLE
GUARANTY COMPANY
Schedule A of this Commitment consists of 3 page(s)
ALTA Commitment Schedule A
SCHEDULE A
Order Number: 129819 REVISED: 2/5/2008
EXHIBIT A
Parcel 1: 47-Vid Lec - 9 1 0 a. ‘O , 5reft"
Block 4, Summit Park, Washington County, Minnesota, excepting therefrom the East 362.80 feet thereof.
Together with the South One-Half of vacated Clara Street lying between the West line of South Fourth
Street and the East line of Meridian Street, now know as Oren Avenue, except the East 362.80 feet
thereof.
(Torrens Certificate of Title No, 55715), P 3,?-a3c- 0o-v3 -0o3r
Parcel 2: /4elicl• 6 Lot
All of Blocks 5 and 8, Summit Park, except the East 181 feet thereof, except that part taken for highway;
also together with vacated Willim Street and the South Half of vacated Myron Street accruing thereto,
together with an easement for ingress and egress over and across the Westerly driveway located on the
East 181 feet of said Blocks 5 and 8 of Summit Park, Washington County, Minnesota.
(Abstract) ,a/ftooe 33 a - vs - 2 -
(0
Parcel 4: 04 mo /V1 er 66/ 51re
All that part of Blocks 5 and 8 and all that part of vacated Willim St. adjacent to said Blocks, of the Plat
of Summit Park, as the same is on file and of record in the Office of the Register of Deeds in and for
Washington Co., Minnesota, more particularly described as follows, to-wit:
Commencing at the intersection of the centerline of the vacated Myron St. with the Westerly line of
South 4" Street of the Plat of Summit Park, Washington County, Minnesota, thence South along said
Westerly line of South 4 St, on an assumed bearing of South 0 degrees 15 minutes 20 seconds East for
213.30 feet to the point of beginning of this description; thence North 89 degrees 54 minutes 57 seconds
West, parallel with said centerline of Myron St, for 181.00 feet; thence South 0 degrees 15 minutes 20
seconds East, parallel with said Westerly line of South 4 St, for 160,46 feet to its intersection with the
new proposed right-of-way of Minn. Hwy. 212; thence North 59 degrees 04 minutes 36 seconds East
along said new proposed right-of-way of Minn. Hwy, 212 for 82.55 feet; thence North 72 degrees 21
minutes 15 seconds East along said new proposed right-of-way of Minn. Hwy 212 for 115.26 feet to said
Westerly line of South 4th St.; thence North 0 degrees 15 minutes 20 seconds West along said Westerly
line of South 4 St. for 82.83 feet to the point of beginning.
STEWART TITLE
GUARANTY COMPANY
Schedule A of this Commitment consists of 3 page(s)
ALTA Commitment Schedule A
SCHEDULE A
Order Number: 129819 REVISED: 2/5/2008
Except that part of Block 5, Summit Park, according to the plat on file in the office of the County
Recorder, Washington County, Minnesota described as follows:
Commencing at the Northeast corner of said Block 5; thence South 01 degree 00 minutes 33 seconds
East, assumed bearing along the East line of said Block 5 a distance of 181.30 feet to the South line of
the North 181.30 feet of said Block 5; thence South 89 degrees 19 minutes 13 seconds West along said
South line 103.52 feet; thence South 82 degrees 26 minutes 25 seconds East 1630 feet to the South line
of the North 18330 feet of the Block 5 and the point of beginning; thence continue South 82 degrees 26
minutes 25 seconds West 61.29 feet to the West line of the East 181.00 feet of said Block 5; thence North
01 degree 00 minutes 33 seconds West along said West line 734 feet to said South line of the North
18130 feet of said Block 5; thence North 89 degrees 19 minutes 13 seconds East along said South line
60.90 feet to the point of beginning.
AND
That part of Block 5, Summit Park, according to the plat on file in the office of the County Recorder,
Washington County, Minnesota described as follows:
Commencing at the Northeast corner of said Block 5; thence South 01 degree 00 minutes 33 seconds
East, assumed bearing, along the East line of said Block 5 a distance of 181.30 feet to the South line of
the North 181.30 feet of said Block 5 and the point of beginning; thence South 89 degrees 19 minutes 13
seconds West along said South line 103.52 feet; thence South 82 degrees 26 minutes 25 seconds West
1630 feet to the South line of the North 183.30 feet of said Block 5; thence North 89 degrees 19 minutes
13 seconds East along said South line 120.10 feet to said East line of Block 5; thence North 01 degree 00
minutes 33 seconds West along said East line of Block 5 a distance of 2.00 feet to the point of beginning,
(Abstract)
(The description of the land constitutes a split of an existing tax parcel, The approval of the appropriate
municipality and/or the Registrar of Titles, if necessary, for that split must be obtained and submitted to
the Company for examination and possible further requirements at least two working days prior to the
closing. The real estate taxes for the entire year in which a tax split takes place must be paid in full.)
'!Al e 4 3 - 0 3o -Ao COS
STEWART TITLE
GUARANTY COMPANY
Schedule A of this Commitment consists of 3 page(s)
ALTA Commitment Schedule 3 Section 1
Order Number: 129819
THIS COMMITMENT IS NOT AN ABSTRACT, EXAMINATION, REPORT, OR REPRESENTATION OF
FACT OR TITLE AND DOES NOT CREATE AND SHALL NOT BE THE BASIS OF ANY CLAIM FOR
NEGLIGENCE, NE LIG T MISREPRESENTATION OR OTHER TORT CLAIM OR ACTION. THE
SOLE LIABILITY OF COMPANY AND ITS TITLE INSURANCE AGENT SHALL ARISE UNDER AND
BE GOVERNED BY PARAGRAPH THREE (3) OF THE CONDITIONS.
The following are the requirements to be complied with:
1. Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or
interest to be insured.
2. A properly executed and recordable deed from Erickson Post Acquisition, Inc., a Minnesota
corporation, to Jacob Holdings of Osgood Avenue, LLC, a Minnesota limited liability company, in
fulfillment of an unrecorded contract for deed. (As to Parcel 4)
Note: The description of the land constitutes a split of an existing tax parcel. The approval of the
appropriate municipality and/or the Registrar of Titles, if necessary, for that split must be obtained
and submitted to the Company for examination and possible further requirements at least two
working days prior to the closing. The real estate taxes for the entire year in which a tax split takes
place must be paid in full.
3. A properly executed and recordable deed from Jacob Holdings of 6Oth Street LLC ,a Minnesota
limited liability company, to Crown Brawley LLC, a Minnesota limited liability company,
(As to Parcel 1 and 2)
4. A proper
limited lia
(As to Par
SCHEDULE 13 - Section 1
Requirements
d and recordable deed from Jacob Holdings of Oren Avenue LLC, a Minnesota
company, to Crown Brawley LLC, a Minnesota limited liability company.
5 A properly executed and recordable deed from Jacob Holdings of Osgood Avenue, LLC, a Minnesota
limited liability company to Crown Brawley LLC, a Minnesota limited liability company. (As to
Parcel 4)
6, Affidavits Regarding Seller(s) executed by Jacob Holdings of 6Oth Street LLC ,a Minnesota limited
liability company, and Jacob Holdings of Oren Avenue LLC, a Minnesota limited liability company,
and Jacob Holdings of Osgood LLC, a Minnesota limited liability company.
7. Affidavit Regarding Purchaser(s) executed by Crown Brawley LLC, a Minnesota limited liability
company.
8. The company requires the following to be satisfied, subordinated or partially released:
Mortgage, Security Agreement, Fixture Financing Statement and Assignment of Leases and Rents in
the original principal amount of $3,596,000,00, dated 1 -26 -2006, filed 3-3-2006, as Document No.
STEWART TITLE
GUARANTY COMPANY
Schedule 81 of this Commitment consists of 2 page(s)
ALTA Commitment Schedule B Section 1
SCHEDULE 13 - Section 1
Requirements
Order Number: 129819
1165261(RJT) and filed 3-2 -2006, as Document No. 3572019(C/R), between Jacob Holdings of 6O"
Street LLC, a Minnesota limited liability company, mortgagor, and wells Fargo Bank, National
Association, a national banking association, mortgagee. (As to Parcels 1 and 2)
9, Financing Statement filed 3 -16 -2006, as Document No. 11 65571 (PST) and Document No.
3574159( /R), executed by Jacob Holdings of 60 Street LLC, as debtor to wells Fargo Bank,
National Association, as secured party. The company requires the same to be satisfied, subordinated
or partially released. (As to Parcel 1 and 2)
10. The company requires the following to be satisfied, subordinated or partially released:
Mortgage in the original principal amount of $228,000,00, dated 3-5 -2007, filed 5 -8 -2007, as
Document No. 3642553( /1), between Jacob Holdings of Oren Avenue LLC, a Minnesota Limited
Liability Company, mortgagor, and Anchor Bank Saint Paul, N.A., mortgagee. (As to Parcel 3)
11, The company requires the following to be satisfied, subordinated or partially released:
Mortgage in the original principal amount of $1 22000,00, dated 3-5-2007, filed 5-8.2007, as
Document No. 3642554, between Jacob Holdings of Oren Avenue LLC, a Minnesota Limited
Liability Company, mortgagor, and Anchor Bank Saint Paul, I.A., mortgagee. (As to Parcel 3)
12. The company requires the following to be satisfied, subordinated or partially released:
Mortgage, Security Agreement, and Assignment of Rents in the original principal amount of
$175,000.00, dated 7 -1 - 1996, filed 8-28- 1996, as Document No. 900867, between Erickson Post
Acquisition, Inc., a MN corporation, mortgagor, and AMOCO Oil Company, a Maryland
corporation, mortgagee. (As to Parcel 4)
13. The company requires the following to be satisfied, subordinated or partially released:
Mortgage in the original principal amount of $ 1,000,000.00, dated 12 -10 -2007, filed 1--7 -2008, as
Document No. 3675654(C/R) and 1182223(RJT), between Jacob Holdings of 60` Street, LLC, a
Minnesota Limited Liability Company, mortgagor, and wells Fargo Bank, National Association,
mortgagee. (As to Parcels 1 and 2)
STEWART TITLE
GUARANTY COMPANY
Schedule B1 of this Commitment consists of 2 page(s)
ALTA Commitment
Order Number: 129819
SCHEDULE 13-- Section H
Exceptions
The policy or policies to be issued will contain exceptions 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. Easements, or claims of easements, not shown by the public records.
4, Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a
correct survey and inspection of the premises would disclose and which are 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. Rights or claims of tenants, as tenants only, in possession under unrecorded leases.
7, As to Parcel 1:
Taxes for the year 2007 in the amount of $ 11,690,00, They are paid in full. Base Tax amount
$11,690.00.
PIN: 33-030-20-43-0038, Non-Homestead
There are no delinquent taxes of record,
As to Parcel 2:
Taxes for the year 2007 in the amount of $69,112.00. They are paid in full. Base Tax amount
$69,112.00.
PIN: 33-030-20-43-0042, Non-Homestead
There are no delinquent taxes of record.
As to ' arcel
Taxes ` or :(e year 2007 in the amount of $2,382.00. They are paid in full. Base Tax amount
$3,379.
PIN: 3 ` 0.20 -43 -0040. Non- Homestead
Them ; =re = delinquent taxes of record.
As to Parcel 4: (Covers additional land)
Taxes for the year 2007 in the amount of $7,234.00. They are paid in full. Base Tax amount
$7,234.00.
PIN: 33-030-20-43-0057. Non - Homestead
There are no delinquent taxes of record.
STEWART TITLE
GUARANTY COMPANY
Schedule B2 of this Commitment consists of 2 page(s) .
ALTA Commitment
Order Number: 129819
SCHEDULE B - Section n
Exceptions
8. Special and pending assessments, if any.
Note: An assessment search has been requested and the results of that search will follow by revision,
9, Easement for trunk highway and snow fence purposes, as created in Final Certificate filed 9-10-1963
as Document No. 231472(C /R) and filed 10-204975, as Document No. 33 8553(0/R).
10. Terms and conditions of Zoning Order Variance dated 8--16 -4983, filed 8 -23 -1983, as Document No,
450663. (As to Parcel 2)
11, Easement for ingress and egress purposes, as created in Quit Claim Deed dated 5.20 -1986, and filed
6-30-1986, as Document No. 510771(C/R).
12. Terms and conditions of Resolution No. o7µ08 -55 dated 8-28 -2007, filed 10-19-2007, as Document
No. 3666637(C/R), (As to Parcels 2 and 4)
13. Easement for ingress and egress purposes, as created in Warranty Deed dated 7 -13- -1994, and filed 8-
4- 1994 as Document No. 811155(C/R). (As to Parcel 4)
14. Terms and conditions of Zoning Order Variance dated 1-22-1985, filed 1 - 30-1985, as Document No,
478669(CIR.). (As to Parcel 4)
15. Terms and conditions of Zoning Order Variance dated 1 -22- 1985, fled 1-30-1985, as Document No.
478671( /R). (As to Parcel 4)
16. Terms and conditions of Amended Variance and Conditional Use Permit dated 145 -2004, filed 2.11-
2004, as Document No. 3422137(C/R). (As to Parcel 4)
17. Terms and conditions of Amended Variance and Conditional Use Permit dated 6 -1 -2006, filed 6 -21
2006; as Document No. 3 591699(C/R), (As to Parcel 4)
18, Terms and conditions of an unrecorded Contract for Deed between Erickson Post Acquisition, Inc.,
seller, and Jacob Holdings of Osgood Avenue, LL, a Minnesota limited liability company,
purchaser, dated �..
19. Easement for roadway and utility purposes, as created in Easement and filed 4 -28 -1972 as Document
No. 33702.
Note: Revised 2 -5 -2008; Effective Date; Schedule 13-1, Items 12 & 13 added (mortgages)
STEWART TITLE
GUARANTY COMPANY
Schedule B2 of this Commitment consists of 2 page(s)
__Ai OBI" Y''' 5641 -- Contract or Deed Minnesota Uniform Conveyancing Blanks (1978)
Corporation or Partnership Seiler
No delinquent taxes and transfer entered; Certificate of
Real Estate Value ( ) filed ( ) not required.
by
(Year)
(reserved for mortgage registry fax payment)
County Auditor
Deputy
Date; ..
(reserved for recording data)
THIS CONTRACT FOR DEED is remade on the above date by Erir,kson Pot Acgt €isition,Jnc_
a ox under the laws of Munneusota
Seller, and _.IacoiLlinclings _of Osgood Avenue i ,t .t a Iimited liability company
Purchaser (whether one or more). Seller and Purchaser agree to the following terms:
1 PROPERTY DESCRIPTION. Seller hereby sells, and Purchaser hereby buys, real property in
Wash .ngt County, Minnesota, described as follows:
See attached Exhibit A
The Seiler certifies that the Seller does not know of any wells on the described Property.
together with all hereditaments and appurtenances belonging thereto (the Property).
2. TITLE. Seller warrants that title to the Property is, on the date of this contract, subject only to the following
exceptions;
(a) Covenants, conditions, restrictions, declarations and easements of record, if any;
(b) Reservations of minerals or mineral rights by the State of Minnesota, if any;
(c) Building, zoning and subdivision laws and regulations;
(d) The lien of real estate taxes and installments of special assessments which are payable by Purchaser pursuant
to paragraph 6 of this contract; and
(e) The following liens or encumbrances: See attached Exhibit B
3, DELIVERY OF DEED AND EVIDENCE OF TITLE. Upon Purchaser's prompt and full performance of this
contract, Seller shall:
(a) Execute, acknowledge and deliver to Purchaser a . .. general warranty
Deed, in recordable form, conveying marketable title to the Property to Purchaser, subject only to the
following exceptions:
(i) Those exceptions referred to in paragraph 2(a), (b), (c) and (d) of this contract;
(ii) Liens, encumbrances, adverse claims or other matters which Purchaser has created, suffered or
permitted to accrue after the date of this contract; and
WAiiNIIVCi: UNAUTHOFU2 D COPYING OF THIS FORM PROHIBITED.
Millar /Davis Co.. St. Paul, MN 651 - 642 -1988
MORTGAGE REGISTRY TAX DUE HEREON:
(iii) The following liens or encumbrances:
See attached Exhibit 13
Millar /Davis Co.. St. Paul, MN 651.642.1988
(b) Deliver to Purchaser the abstract of title to the Property or, if the title is registered, the owner's duplicate
certificate of title.
4. PURCHASE PRICE. Purchaser shall pay to Seller, at
the sum of '_,Six ririresUSixty Maus ara ($ ...$ 0.,000.00
as and for the purchase price for the Property, payable as follows:
1. On the Date of Closing, the sum of Twenty Five Thousand Dollars ($25,000) shall be released from escrow to
Seller.
.11 1 l., 11 be
2. On the Date of Closing, the amount of One Hundred Ten Thousand Dollars ($10,000) shall be paid by
Purchaser to Seller.
3. Purchaser shall make monthly interest only payments at ten percent (10%) interest on the unpaid principal
balance of Five Hundred Twenty Five Thousand Dollars ($525,000) on the first clay of each month following the
Date of Closing for a period of twenty -nine (29) months; and
4. The unpaid principal balance, plus any unpaid accrued interest shall be fully due and payable by Purchaser on
the first day of the thirtieth (30th) month following the Date of Closing.
Seller's address for payments shall be Erickson Post Acquisition, cfo Dodge & Fox, Attn: John Dodge, 715
Florida Avenue, Suite 402, Golden Valley, MN 55426
unless Seller provides written notice to Purchaser of a change in SeIler's address.
5. PREPAYMENT. Unless otherwise provided in this contract, Purchaser shall have the right to fully or partially
prepay this contract at any time without penalty. Any partial prepayment shall be applied first to payment of
amounts then due under this contract, including unpaid accrued interest, and the balance shall be applied to the
principal installments to be paid in the inverse order of their maturity. Partial prepayment shall not postpone the
due date of the installments to be paid pursuant to this contract or change the amount of such installments.
6. REAL ESTATE TAXES AND ASSESSMENTS. Purchaser shall pay, before penalty accrues, all real estate
taxes and installments of special assessments assessed against the Property which are due and payable in the year
9002_ and in all subsequent years. Real estate taxes and installments of special assessments which are due and
payable in the year in which this contract is dated shall be paid as follows: prorated between Seller and Purchaser
as of the Date of Closing.
Seller warrants that the real estate taxes and installments of special assessments which were due and payable in the
years
�. preceding the year in which this contract is dated are paid in full.
7 PROPERTY INSURANCE.
(a) INSURED RISKS AND AMOUNT. Purchaser shall keep all buildings, improvements and fixtures now or
later located on or a part of the Property insured against loss by ire,extended coverage perils, vandalism,
malicious mischief and, if applicable, steam boiler explosion for at least the amount of replacement value
If any of the buildings, improvements or fixtures are located in a federally designated flood prone area, and if flood
insurance is available for that area, Purchaser shall procure and maintain flood insurance in amounts reasonably
satisfactory to Seller.
(b) OTHER TERMS. The insurance policy shall contain a loss payable clause in favor of Seller which provides
that Seller's right to recover under the insurance shall not be impaired by any acts or omissions of Purchaser or
Seller, and that Seller shall otherwise be afforded all rights and privileges customarily provided a mortgagee under
the so- called standard mortgage clause.
(c) NOTICE OF DAMAGE. In the event of damage to the Property by fire or other casualty, Purchaser shall
promptly give notice of such damage to Seller and the insurance company.
S. DAMAGE TO THE PROPERTY
(a) APPLICATION OF INSURANCE PROCEEDS. If the Property is damaged by fire or other casualty, the
insurance proceeds paid on account of such damage shall be applied to payment of the amounts payable by
Purchaser under this contract, even if such amounts are not then due to be paid, unless Purchaser makes a permitted
election described in the next paragraph. Such amounts shall be first applied to unpaid accrued interest and next to
the installments to be paid as provided in this contract in the inverse order of their maturity. Such payment shall not
postpone the due date of the installments to be paid pursuant to this contract or change the amount of such
installments. The balance of insurance proceeds, if any, shall be the property of Purchaser.
M Ilor /Davis Go.. St. Paul, MN 651 -642 -1988
(b) PURCHASER'S ELECTION TO REBUILD. If Purchaser is not in default under this contract, or after
curing any such default, and if the mortgagees in any prior mortgages and sellers in any prior contracts for deed do
not require otherwise, Purchaser may elect to have that portion of such insurance proceeds necessary to repair,
replace or restore the damaged Property (the repair work) deposited in escrow with a bank or title insurance
company qualified to do business in the State of Minnesota, or such other party as may be mutually agreeable to
Seller and Purchaser. The election may only be made by written notice to Seller within sixty days after the damage
occurs. Also, the election will only be permitted if the plans and specifications and contracts for the repair work
are approved by Seller, which approval Seller shall not unreasonably withhold or delay. If such a permitted
election is made by Purchaser, Seller and Purchaser shall jointly deposit, when paid, such insurance proceeds into
such escrow. If such insurance proceeds are insufficient for the repair work, Purchaser shall, before the
commencement of the repair work, deposit into such escrow sufficient additional money to insure the full payment
for the repair work. Even if the insurance proceeds are unavailable or are insufficient to pay the cost of the repair
work, Purchaser shall at all times be responsible to pay the full cost of the repair work. All escrowed funds shall
be disbursed by the escrowee in accordance with generally accepted sound construction disbursement procedures.
The costs incurred or to be incurred on account of such escrow shall be deposited by Purchaser into such escrow
before the commencement of the repair work. Purchaser shall complete the repair work as soon as reasonably
possible and in a good and workmanlike manner, and in any event the repair work shall be completed by Purchaser
within one year after the damage occurs. If, following the completion of and payment for the repair work, there
remain any undisbursed escrow funds, such funds shall be applied to payment of the amounts payable by Purchaser
under this contract in accordance with paragraph 8 (a) above.
9, INJURY OR DAMAGE OCCURRING ON THE PROPERTY.
(a) LIABILITY Seller shall be free from liability and claims for damages by reason of injuries occurring on
or after the date of this contract to any person or persons or property while on or about the Property. Purchaser
shall defend and indemnify Seller from all liability, loss, costs and obligations, including reasonable attorneys'
fees, on account of or arising out of any such injuries. However, Purchaser shall have no liability or obligation to
Seller for such injuries which are caused by the negligence or intentional wrongful acts or omissions of Seller.
(b) LIABILITY INSURANCE. Purchaser shall, at Purchaser's own expense, procure and maintain liability
insurance against claims for bodily injury, death and property damage occurring on or about the Property in
amounts reasonably satisfactory to Seller and naming Seller as an additional insured,
10. INSURANCE, GENERALLY, The insurance which Purchaser is required to procure and maintain pursuant
to paragraphs 7 and 9 of this contract shall be issued by an insurance company or companies licensed to do
business in the State of Minnesota and acceptable to Seller, The insurance shall be maintained by Purchaser at all
tines while any amount remains unpaid under this contract. The insurance policies shall provide for not less than
ten days written notice to Seller before cancellation, non - renewal, termination or change in coverage, and
Purchaser shall deliver to Seller a duplicate original or certificate of such insurance policy or policies.
1 1 . CONDEMNATION, If all or any part of the Property is taken in condemnation proceedings instituted under
power of eminent domain or is conveyed in lieu thereof under threat of condemnation, the money paid pursuant to
such condemnation or conveyance in lieu thereof shall be applied to payment of the amounts payable by Purchaser
under this contract, even if such amounts are not then due to be paid. Such amounts shall be applied first to unpaid
accrued interest and next to the installments to be paid as provided in this contract in the inverse order of their
maturity, Such payment shall not postpone the due date of the installments to be paid pursuant to this contract or
change the amount of such installments. The balance, if any, shall be the property of Purchaser.
12. WASTE, REPAIR AND LIENS. Purchaser shall not a = .. - . , w •• : - - -
�r
commit or allow waste of the
Property. Purchaser shall maintain the Property in good condition and repair. Purchaser shall not create or permit
to accrue liens or adverse claims against the Property which constitute a lien or claim against Seller's interest in
the Property. Purchaser shall pay to Seller all amounts, costs and expenses, including reasonable attorney's fees,
incurred by Seiler to remove any such liens or adverse claims,
13. DEED AND MORTGAGE REGISTRY TAXES. Seller shall, upon Purchaser's full performance of this
contract, pay the deed tax due upon the recording or filing of the deed to be delivered by Seller to Purchaser. The
mortgage registry tax due upon the recording or filing of this contract shall be paid by the party who records or
files this contract; however, this provision shall not impair the right of Seller to collect from Purchaser the amount
of such tax actually paid by Seller as provided in the applicable laws governing default and service of notice of
termination of this contract.
14. NOTICE OF ASSIGNMENT. If either Seller or Purchaser assigns their interest in the Property, a copy of
such assignment shall promptly be furnished to the non - assigning party.
15, PROTECTION OF INTERESTS. If Purchaser fails to pay any sum of money required under the terms of
this contract or fails to perform any of Purchaser's obligations as set forth in this contract, Seller may, at Seller's
option, pay the same or cause the same to be performed, or both, and the amounts so paid by Seller and the cost of
such performance shall be payable at once, with interest at the rate stated in paragraph 4 of this contract, as an
additional amount due Seller under this contract. If there now exists, or if Seller hereafter creates, suffers or
permits to accrue, any mortgage, contract for deed, lien or encumbrance against the Property which is not herein
expressly assumed by Purchaser, and provided Purchaser is not in default under this contract, Seller shall timely
pay all amounts due thereon, and if Seller fails to do so, Purchaser may, at Purchaser's option, pay any such
delinquent amounts and deduct the amounts paid from the installment(s) next coming due under this contract.
16. DEFAULT. The time of performance by Purchaser of the terms of this contract is an essential part of this
contract. Should Purchaser fail to timely perform any of the terms of this contract, Seller rnay, at Seller's option,
elect to declare this contract cancelled and terminated by notice to Purchaser in accordance with applicable law. All
right, title and interest acquired under this contract by Purchaser shall then cease and terminate, and all
improvements made upon the Property and all payments made by Purchaser pursuant to this contract shall belong
to Seller as liquidated damages for breach of this contract. Neither the extension of the time for payment of any
sum of money to be paid hereunder nor any waiver by Seller of Seller's rights to declare this contract forfeited by
reason of any breach shall in any manner affect Seller's right to cancel this contract because of defaults
subsequently occurring, and no extension of time shall be valid unless agreed to in writing, After service of notice
of default and failure to cure such default within the period allowed by law, Purchaser shall, upon demand,
surrender possession of the Property to Seller, but Purchaser shall be entitled to possession of the Property until
the expiration of such period.
17. BINDING EFFECT. The terms of this contract shall run with the land and bind the parties hereto and their
successors in interest.
w 2 r r
i r
18. HEADINGS. Headings of the paragraphs of this contract are for conveni only and do not define, limit or construe the
contents of such paragraphs.
19. ASSESSMENTS BY OWNERS' ASSOCIATION, If the Property is subject to a recorded declaration providing for
assessments to be levied against the Property by any owners' association, which assessments may become a lien against the
Property if not paid, then:
(a) Purchaser shall promptly pay, when due, all assessments unposed by the owners' association or other governing body as
required by the provisions of the declaration or other related documents; and
(b) So long as the owners' association maintains a master or blanket policy of insurance against fire, extended coverage
perils and such other hazards and in such amounts as are required by this contract, then:
(i) Purchaser's obligation in this contract to maintain hazard insurance coverage an the Property is satisfied; and
(ii) The provisions in paragraph 8 of this contract regarding application of insurance proceeds shall be superseded by the
provisions of the declaration or other related documents; and
(iii) In the event of a distribution of insurance proceeds in lieu of restoration or repair following an insured casualty loss
to the Property, any such proceeds payable to Purchaser are hereby assigned and shall be paid to Seller for application to
the sum secured by this contract, with the excess, if any, paid to Purchaser.
20, ADDITIONAL TERMS,
See attached Exhibit C.
SELLER
Erickson Post Acquisition, Inc.
B Richard L. Zi
Its Presicden
Its
STATE OF MINNESOTA
COUNTY OF
This instrument was ackn
a
on behalf of the
e if . 41
By
1 _di _it .�i..
ledged before me this
by Richar LZimwermao
the Pr ,e sidaut
of _Erickson Post AcquisiIiwiJnc.
NOTARIAL STAMP OR SEAL (OR OMER TITLE OR RAM:
LAUREL A. FORREST
Notary Public
(Minnesota
My Co mission Dykes Jan 3t. 2C3s
STATE OF MINNESOTA
COUNTY OF __A,Amittis
This instrument was acknowledged before me on
}SS_
by .. Dennis F_ Neeirer_ - t °- L age
Jacob HoldingLQLClsgs d v to J� ��i ate. ' :r e~dlia•� ty _o
INDIA I i 5T Mr on SE.I1 (OT%;OflIEIC+ i� L [Yfi'Tt.1r'
TIIIS INSTRUMENT WAS DRAFTED BY (NAME AND ADDRESS):
(V LL)
Siegel, Brill, Greupner. Duffy & Foster, P.A.
1300 Washington Square
100 Washington Avenue
Minneapolis, MN 55401
/Davis C❑. v St. Paul, MN 651 -642 -1958
A ERS
L
By: ie ants E. ecker
Its: Chief Manager
xmid
xmid
under the laws of ti.ntLSaxa
[Fate)
SIGNATURE OF NOTARY PUBLIC OR OTHER OFFICIAL.
Date
LIC OR OTHER OFFICIAL
chaser._ ._._
Tax Stateme ts for the rea property described In this instrument should
b = sent to (include name and address of Grantee):
Jac>rei • ngs of Osgood Avenue LLC
500 Ford Road
Minneapolis, MN 55426
FAILURE TO RECORD OR FILE THIS CONTRACT FOR DEED MAY GIVE OTHER PARTIES PRIORITY
OVER PURCHASERS' INTEREST IN THE PROPERTY.
Parcel 1:
EXHIBIT A
All that part of Blocks 5 and 8 and all that part of vacated William St. adjacent to said Blocks, of
the Plat of Summit Park, as the same is on file and of record in the Office of the Register of
Deeds in and for Washington Co., Minnesota, more particularly described as follows, to-wit;
Commencing at the intersection of the centerline of the vacated Myron St. with the Westerly line
of South 4 Street of the Plat of Summit Park, Washington County, Minnesota, thence South
along said Westerly line of South 4th St. on an assumed bearing of South 0 degree 15 minutes 20
seconds East for 213.30 feet to the point of beginning of this description; thence North 89
degrees 54 minutes 57 seconds West, parallel with said centerline of Myron St. for 181.00 feet;
thence South 0 degree 15 minutes 20 seconds East, parallel with said Westerly line of South 4
St. for 160.46 feet to its intersection with the new proposed right-of-way of Minn. Hwy. 212;
thence North 59 degrees 04 minutes 36 seconds East along said new proposed right -of -way of
Minn. Hwy. 212 for 8155 feet; thence North 72 degrees 21 minutes 15 seconds East along said
new proposed right-of-way of Minn. Hwy 212 for 115.26 feet to said Westerly line of South 4th
St,; thence North 0 degree 15 minutes 20 seconds West along said Westerly line of South 4th St.
for 82.83 feet to the point of beginning.
EXCEPT that part of Block 5, SUMMIT PARK, according to the plat on file in the office of the
County Recorder, Washington County, Minnesota described as follows:
Commencing at the Northeast corner of said Block 5; thence South 01 degree 00 minutes 33
seconds East, assumed bearing, along the East line of said Block 5 a distance of 181.30 feet to
the South line of the North 181.30 feet of said Block 5; thence South 89 degrees 19 minutes 13
seconds West along said South line 103.52 feet; thence South 82 degrees 26 minutes 25 seconds
East 16.70 feet to the South line of the North 183.30 feet of the Block 5 and the point of
beginning; thence continue South 82 degrees 26 minutes 25 seconds West 61,29 feet to the West
line of the East 181.00 feet of said Block 5; thence North 01 degree 00 minutes 33 seconds West
along said West line 7.34 feet to said South line of the North 183.30 feet of said Block 5; thence
North 89 degrees 19 minutes 13 seconds East along said South line 60.90 feet to the point of
beginning.
Parcel 2:
That part of Block 5, SUMMIT PARK, according to the plat on file in the office of the County
Recorder, Washington County, Minnesota described as follows:
Commencing at the Northeast corner of said Block 5; thence South 01 degree 00 minutes 33
seconds East, assumed bearing, along the East line of said Bloch 5 a distance of 181.30 feet to
the South line of the North 181.30 feet of said Block 5 and the point of beginning; thence South
89 degrees 19 minutes 13 seconds West along said South Iine 103.52 feet; thence South 82
degrees 26 minutes 25 seconds West 16.70 feet to the South line of the North 183.30 feet of said
Block 5; thence North 89 degrees 19 minutes 13 seconds East along said South line 120.10 feet
to said East line of Block 5; thence North 01 degree 00 minutes 33 seconds West along said East
line of Block 5 a distance of 2.00 feet to the point of beginning.
mas- O624Q2- 22243- 4xhibit A to Contract for Deed
111as- (]62402- 22243- Exhibit 13 to Contract for Decd - rcvlsed
EXHIBIT B
1. Highway easement(s) over part of the Property in favor of the State of Minnesota, as created
in Document No. 338553;
Terns and conditions of City of Oak Park Heights Zoning Ordinance Variances filed as
Document Nos. 478669 and 478671;
3. Easement for ingress and egress over the West 12 feet as contained in warranty Deed dated
July 13, 1994, filed of record August 4, 1991, as Document No. 811155.
4. Matters identified on the Survey dated January 31, 2001.
5. Any covenants, restrictions, easements and encumbrances by or on behalf of Purchaser or
Guarantor by or after the date of the Contract for Deed.
i s ,, O624t)?- 22243- LX1lit3IT C to Contract for Deed - revised
1. The Purchaser may remove all of the improvements on the Property, at Purchaser's cost;
EXHIBIT C
No additional work or improvements may be made to the Property without Seller's consent,
which consent shall not be unreasonably withheld, delayed or conditioned, except that
Purchaser will have the right to blacktop any vacant land and to install signage and lighting
with notice to Seller but without Seller's consent; and
3. Dennis E. Hecker shall unconditionally guaranty the Purchaser's performance of the Contract
for Deed.
4. Prior to Purchaser's commencement of any repairs, alterations or additions to the Property,
including the removal of all of the improvements, Purchaser shall deliver to Seller any plans and
specifications, and indemnifies Seller against liens, costs, damages and expenses related thereto.
Additionally, Purchaser shall serve on all contractors and post statutory notice (Minn. Stat. §
514.06), and keep said notice posted in a conspicuous place on the Property, notifying all
laborers and/or materialnien that said improvements or alterations are not for the benefit of the
Seller or at Seller's instance.
CLOSING AGREEMENT
THIS CLOSING AGREEMENT ( "Closing Agreement ") made and entered into as of
January 1, 2008, by and between Erickson Post Acquisition, Inc., a Minnesota corporation
( "Erickson Post ") and Jacob Holdings of Osgood LLC, a Minnesota limited liability company
( "Jacob Holdings ").
RECITALS
A. Erickson Post and Jacob Holdings are parties to a Purchase Agreement dated April
25, 2002, as amended by that certain Settlement Agreement entered into on December 14, 2007
( "Purchase Agreement"), copies of which are attached hereto and incorporated herein as Exhibits A
and A-1 respectively, for the sale and purchase of the property located at 14738 — 60 Street North,
Oak Park Heights, Minnesota (the "Property ").
B. Erickson Post and Jacob Holdings, as set forth in the Purchase Agreement are also
parties to an undated Contract for Deed executed by both parties on July 9, 2002, for the sale and
purchase of the Property ( "Contract for Deed "), a copy of which is attached hereto and incorporated
herein as Exhibit B.
C. Erickson Post and Jacob Holdings are also parties to an Escrow Agreement (the
"Escrow Agreement ") dated July 9, 2002 with Commonwealth Land Title Insurance Company
( "Commonwealth ") for the purpose of closing on the sale and purchase of the Property.
D. The parties have reached an agreement to cause the release of the documents and
proceeds being held by Commonwealth pursuant to the Escrow Agreement, and close the
transaction pursuant to the terms of the Purchase Agreement.
NOW, THEREFORE, in consideration of the Recitals and other good and valuable
consideration the parties hereto agree as follows:
1. Unless otherwise defined in this Closing Agreement, all defined terms used herein
shall have the meaning set forth in the Purchase Agreement. The Recitals are incorporated into and
made a part of this Agreement.
2. The terms of the Contract for Deed are modified effective as of January 1, 2008 as
follows:
(a) $172,910.30 the receipt of which is hereby acknowledged by Erickson Post.
(b) $ 20,000.00 is credited against the balance of the Contract for Deed.
(c) $467,089.70 is the balance of the Contract for Deed after application of the
above $20,000.00.
(d) Jacob Holdings shall make monthly interest only payments at 1O% interest
on the unpaid principal balance commencing on February 1, 2008 and on the 1 st day of each
month thereafter until the entire principal and all accrued interest is paid in full.
(e) The entire unpaid principal balance and all unpaid accrued interest shall be
fully due and payable by Jacob Holdings on June 30, 2008.
3. Erickson Post acknowledges receipt of $3,987.00 representing interest due under the
Contract for Deed from January 1, 2008 to February 1, 2008 and $410.00 for expenses.
4. The parties acknowledge that the Property is under a lease between Erickson Post
and Jacob Holdings of Stillwater LLC dated February 1, 2003 (the "Lease ") in which the lease
payment is $1,500.00. Erickson Post acknowledges receipt of a lease payment for the month of
January, 2008. Erickson Post agrees to refund the January, 2008 rent payment in the form of a
credit of interest due under the Contract for Deed for February, 2008. Simultaneously with the
execution of this Closing Agreement, Erickson Post and Jacob Holdings will execute a termination
of lease in form attached hereto as Exhibit C.
5. Simultaneously with the execution of this Closing Agreement, Erickson Post and
Jacob Holdings shall execute the closing statement attached hereto as Exhibit D and deliver a signed
closing statement to each other.
6. The parties acknowledge that the Contract for Deed will not be recorded unless
Jacob Holdings, as Purchaser, fails to timely perform any of the terms of the Contract for Deed and
it becomes necessary for Erickson Post , as Seller, to declare the Contract for Deed canceled and
terminated by notice to Purchaser in accordance with applicable law. Erickson post will have all
remedies available to them pursuant to the Contract for Deed In such event, Seller may mark the
Effective Date of the Contract for Deed, as amended, and records it in the real estate record of
Washington County.
7. Commonwealth is holding in escrow the satisfaction of mortgage of the BP Products
North American, Inc. (fka Amoco Oil Company) ( "BP ") along with a mortgage payoff letter dated
August 13, 2002, for that certain Mortgage dated July 21, 1996, filed August 28, 1996, s Document
No. 900867 BP has confirmed, to the satisfaction of all parties, that no amount is owing on said
Mortgage. Upon receipt of the satisfaction executed by BP, Erickson Post will cause it to be filed in
the real estate records
8. The purchase agreement for the Property stated that BP has a right of first refusal to
purchase the Property pursuant to an Agreement dated March 11, 1996. BP issued a waiver letter
dated July 3, 2002. Erickson Post and Richard Zimmerman, personally, agree to indemnify and
hold Jacob Holdings and its principal, Dennis E. Hecker, harmless from any and all costs, loss and
damage including reasonable attorney's fees resulting from any future claims of right of first refusal
by BP.
9. The parties hereto desire to have the escrow released by Commonwealth. Jacob
Holdings is not requiring that Commonwealth provide closing services nor the issuance of a title