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z-7 DORSEY & WHITNEY LLP MINNEAPOLIS PILLSBURY CENTER SOUTH NEW YORK WASHINGTON, D.C. 220 SOUTH SIXTH STREET DENVER LONDON (MINNEAPOLIS, MINNESOTA 55402-1498 SEATTLE BRUSSELS TELEPHONE: (612) 340 -2600 FA0.00 HONG KONG FAX: (612) 340 -2868 BILLINGS DES MOINES JAMES E. SC1l1'=6PFXER MISSOULA ROCHESTER (612) 34379W COSTA MESA GREAT FALLS September 29, 1997 VIA FACSIMILE AND FIRST CLASS MAIL Mr. Michael Mornson Housing and Redevelopment Authority of St. Anthony 3301 Silver Lake Road St. Anthony, Minnesota 55418 Re: 2542 Kenzie Terrace, St. Anthony, Minnesota Dear Mr. Mornson: In connection with the Purchase Agreement dated August 10, 1997, between Gregory F. Steiner, as Seller and Housing and Redevelopment Authority of St. Anthony, Minnesota, as Buyer ('Purchase Agreement "), I have reviewed the title insurance commitment issued under File No. 59 - 2902C (the "Commitment ") prepared by First American Title Insurance Company, dated August 26, 1997, a copy of which is enclosed for your reference. In connection with the objections as listed on the September 16, 1997 title objection letter (copy attached) to Gregory F. Steiner and jean Crosby of First American Title Insurance Company, I wish to call your attention to Items #12 and #13 of Schedule B- II of the Commitment. In order for the title company to issue a policy clear of these two exceptions, a survey will need to be obtained locating the property as described by the legal description contained in the Commitment. This survey may reveal possible gaps between the Steiner property and the adjacent parcels previously acquired by the HRA. If gaps exist there may be third parties who have a lingering interest in the property because title to these gap areas would not have been transferred when the property was conveyed using the current legal description. If a survey does in fact reveal gaps in the legal descriptions of the properties, the surveyor would have to create a new legal description and the rights of third parties in the gap would have to be eliminated, probably by conducting either a Quiet Title Action or a Land Title Registration proceeding in Hennepin County. Either of these proceedings could take anywhere from 4 months to 2 years to complete and could cost between $2,500.00 and $15,000.00 depending on the complexity of the action.