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Commitment for Title Insurance 7 ALTA Commitment Schedule A Commonwealth Land Title Lisurance Company Hamilton Title Security, LLC COMMITMENT FOR TITLE INSURANCE Commitment No.: 993297 SCHEDULE A ` Effective Date: , Ref. (REV. 3/29/00) Dctst , 2 >4:0 eiN" (zz) Property Address: 1. Policy or Policies to be issued: (a) A.L.T.A. Owner's Policy- 1992 Amount of Policy:$600,000.00 -Proposed Insured: City of Carmel Redevelopment Commission (b) A.L.T.A. Loan Policy- 1992 Amount of Policy: Proposed Insured: 2. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple 3. Title to said estate or interest in said 1laand, is at the effective date hereof vested in: C;A--i ear? Q.P.2,Y,C.L. 1�04,EA, Oho I1x.‘ ; Q...c>.-Y',-Y„ IV Ni 4. The land referred to in this Commitment is described as follows: See attached legal description.1,4 QIN trtii Hamilton Title Security,LLC,Agent,by: f //, This commitment is invalid unless the Insuring Provisions and Schedules A and B are attached. r ALTA Commitment-Schedule B Commonwealth Land Title Insurance Company COMMITMENT FOR TITLE INSURANCE Commitment No.: 993297 SCHEDULE B I-Requirements The following requirements must be met and completed to the satisfaction of the Company before its policy of title insurance will be issued: ,6`____Payment to, or for the account sellernLthe is•rt•a:ors of the full consideration for the estate O interest to be insured. 2. Instrument in insurable form which must be executed, delivered, and duly filed for record. 3. Corporate warranty deed to be executed by the fee simple title holder shown on Sc •ule A to the proposed insured on Schedule A. 4. Vendors Affidavit in form acceptable to company to be executed. 5. Satisfaction and release of mortgages and/or security •• -rests as shown in Special Exceptions on Schedule B-II. 6. The following with regard to : • ssociates,Inc., an Oklahoma corporation: a) We should b- rnished a current file-stamped copy of the certificate authorizing WLB Assof' et s, Inc., to conduct business in the State of Indiana issued by the Indiana S c�retary of State. .) We must be furnished proof of the authority and incumbency of the officer to execute the d• • • • • •sing . StT'i sOI G\ End of Requirements eit'11117 rIP ALTA Commitment-Schedule B Commonwealth Land Title Insurance Company COMMITMENT FOR TITLE INSURANCE Commitment No.: 993297 SCHEDULE B - Section II Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company. Standard Exceptions: . 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. . Rights or claims of parties in possession not shown by the public records. . Easements,or claims of easements,not shown by the public records. 4. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey and inspection of the premises. 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. Taxes or special assessments which are not shown as existing liens by the public records. Special Exceptions: 7. Taxes for the year 1998 payable 1999 in the name of TWM, Inc. Brief Legal: Lot 2 Ira Mendenhall Taxing Unit: City of Carmel Duplicate No.: 33448 Parcel No.: 16-09-25-16-01-010.000 1st installment: $3481.24 paid �� 2°d installment: $3481.24 paid Delinquent penalty $348.12im- — Assessed valuation as of effective date (for information only:) Land: $8370 Improvements: $91,200 Exemptions: $-0- Brief Legal: Lot 13 Ira Mendenhall Taxing Unit: City of Carmel Duplicate No.: 33452 Parcel No.: 16-09-25-16-01-013.000 15`installment: $223.76 paid 2nd installment: $223.76 paid Delinquent penalty p a Assessed valuation as of effective date (for information only:) Land: $6400 Improvements: $-0- Exemptions: $-0- Brief Legal: 25-18-3 (.07 ac.) Taxing Unit: City of Carmel Duplicate No.: 33452 Parcel No.: 16-09-25-16-01-014.000 ALTA Commitment- Schedule B Commonwealth Land Title Insurance Company COMMITMENT FOR TITLE INSURANCE Commitment No.: 993297 1st installment: $55.94 paid 2nd installment: $55.94 paid Delinquent penalty $5.59 ttnpattt P� Assessed valuation as of effective date (for information only:) Land: $1600 Improvements: $-0- Exemptions: $-0- Brief Legal: Lot 1 Ira Mendenhall Taxing Unit: City of Carmel Duplicate No.: 33449 Parcel No.: 16-09-25-16-01-011.000 ls`installment: $298.23 paid 2"d installment: $298.23 paid Delinquent penalty $29.82' Assessed valuation as of effective date (for information only:) Land: $8530 Improvements: $-0- Exemptions: $-0- Taxes for the year 1998 payable 1999 in the name of TWM,Inc. Brief Legal: Lot 14 Ira Mendenhall Taxing Unit: City of Carmel Duplicate No.: 33450 Parcel No.: 16-09-25-16-01-012.000 ls`installment: $223.76 paid 2"d installment: $223.76 paid Delinquent penalty $22.38- paid.. Assessed valuation as of effective date(for information only:) Land: $6400 Improvements: $-0- Exemptions: $-0- 8. Taxes for 1999,payable 2000, not yet due and payable. 9. Taxes for 2000,payable 2001, not yet due and payable. 10. possible municipal assessments, sewer use charges, and/or impact fees levied by City of Carmel, ,AppJ6. 11. Perpetual easement for electric transmission line in favor of Public Service of Indiana, Inc. across that portion of the real estate described in Schedule A, described in an order to vacate a platted alley, executed April 30, 1976, and recorded April 30, 1976, in Miscellaneous Record 148, page 595. 12. Covenants and restrictions contained in Deed and Covenants to the City of Carmel, dated October 8, 1998, and recorded October 15, 1998, as Instrument 9857717. r a Ode ALTA Commitment-Schedule B Commonwealth Land Title Insurance Company COMMITMENT FOR TITLE INSURANCE Commitment No.: 993297 S Q d I Cv t-\ ((�� C wet \%A t 1241mo Qe, �d 04.4 Sys*ek)c, fZ o � � -t � �►aa P, 13. Easement, restrictions, possible assessments for maintenance, d rights of others entitled to the 'al C„ continued uninterrupted flow of water through the Depot Ann o ollett-Morrow Legal Drain, in accordance with Indiana Drain Code, IC (1981) 36-9-27-33 et seq. . 14. Rights of tetiffiltfs) in possession under unrecorded lease(s). Lo©2k, 9 --1-5-.--- Mortgage and Fixture Filing for $412,000.00 from WLB Associates, Inc. to The Farmers Bank d /� dated September 28, 1999, and recorded October 1, 1999, as Instrument No. 9957746 in the d� a Office of the Recorder of Hamilton County, Indiana. 4 Assignment of Rents and Leases from WLB Associates, Inc. to The Farmers Bank dated September 28, 1999, and recorded October 1, 1999, as Instrument No. 9957747 in the Office of '. the Recorder of Hamilton County,Indiana. 17. Survey by Richard A. O'Brian, Registered Land Surveyor No. 8800177, Hahn & Associates, Inc., Job No. 000128, certified January 24, 2000, discloses the following: a) North edge of building extends 0.7 feet past North property line. b) Pavement for 1st Street SW extends onto/encroaches on southern portion of real estate. c) Rights of way for Main Street and 2nd Avenue SW along North and East sides of real estate. d) Existing building violates/encroaches into the 75 foot legal drain easement along west side of real estate. End of Schedule B File No.: 993297 EXHIBIT A Lots numbered 1, 14, part of Lots Numbered 2 and 13 and the first alley South of Main Street which extends between 2°d Avenue S. W. and the railroad (now vacated by an order recorded April 30, 1976, in Miscellaneous Record 148, page 595, in the Office of the Recorder of Hamilton County, Indiana) in Ira Mendenhall's Addition to Bethlehem (now Carmel, Indiana) the plat of which is recorded in Deed Record 23, page 81, in the Office of the Recorder of Hamilton County, Indiana, more particularly described as follows: Beginning at the northeast corner of Lot Numbered 1 in Ira Mendenhall's Addition to Bethlehem (now Carmel, Indiana); thence South on the East line of Lot 1, the Southerly prolongation thereof and the East line of Lot Numbered 14 a distance of 279 feet to the Southeast corner of said Lot 14; thence Westerly on the South line of said Lot 14 and the South line of Lot 13 a distance of 127.3 feet to a point that is 21.00 feet East of the centerline of the main track of the Monon Railroad; thence North parallel with said centerline 279 feet to the North line of Lot 2 in said Ira Mendenhall's Addition; thence Easterly on said North line and the North line of Lot 1 aforesaid a distance of 131.0 feet to the beginning point. End of Legal Description Access Endorsement Re: Carmel Redevelopment Commission Main Street ENDORSEMENT ISSUED BY COMMONWEALTH LAND TITLE INSURANCE COMPANY Hamilton Title Security, LLC, Agent Attached to and forming a part of Commitment for Title Insurance No. 993297 To be annexed to and form part of Policy No. -, insuring the insured, as set forth in said policy. The said policy is hereby amended in the following manner: The Company hereby insures the Insured against loss or damage which the insured shall sustain by reason of any inaccuracy in the following assurance. Said real estate, taken as a whole, is contiguous to the physically open streets known as Main Street on the north, Second Avenue Southwest on the east, and First Street Southwest, on the south, and there is legal access to the above named public street. This endorsement is made a part of the commitment or policy. It is subject to all of the terms of the commitment or policy and prior endorsements. Except as expressly stated on this endorsement, the terms, dates and amount of the commitment or policy and prior endorsements are not changed. Dated: March 30, 2000 Co s '�flir : Title Insurance Company by -- "1a Title Officer Hamilton Title Security, LLC