7/25/2011 11:16:48 AM
7/25/2011 11:16:47 AM
City of Clive
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14 <br /> • <br /> ESTOPPEL CERTIFICATE <br /> 114 t 2 ®,1991. <br /> To: Teachers Insurance and Annuity Association of America, hereinafter referred to as <br /> "Lender ", First American Title Insurance Company, hereinafter referred to as "Insurer" Mid - <br /> America Investment Co., herein referred to as "Borrower ", and to whom it may concern. <br /> The City of Clive, Iowa has been advised that "Borrower" has a commitment to borrow <br /> $3,900,000.00 from 'LenderTM, and to execute a 1st mortgage on real estate located in Clive, Iowa <br /> as security for said loan and that Insurer has issued a commitment to insure the title of said real <br /> estate and that Lender and Insurer and others will rely on this estoppel certificate. The real <br /> estate involved in said loan and this certificate is descnbed on Exhibit A, hereto attached and <br /> by this reference made a part hereof. <br /> In this estoppel certificate the City of Clive, Iowa states that said Lender and Insurer <br /> and others may rely on the following facts and statements as to matters that would otherwise <br /> appear to be a lien or encumbrance on the real estate described on Exhibit A and as setforth in <br /> the commitment of Insurer to insure the title of said real estate: <br /> (1) As to the terms and conditions of that certain Agreement Re Sewer Treatment <br /> Plant between the City of Clive, Iowa, Iowa Realty Co., Inc., and Mid- America <br /> Investment Co., dated September 19, 1988 and filed September 30, 1988 in Book 5959 at <br /> Page 074 in the records of Polk County, Iowa, and all supplements thereto. <br /> Mid - America Investment Co. has paid all sums due for the property described on <br /> Exhibit A and there are no defaults by Mid - America Investment Co. under said <br /> agreement and all supplements thereto and no further sums are due from Mid - <br /> America Investment Co. under said agreement and said supplements as to the <br /> real estate described on Exhibit A and there exists no lien against said real estate <br /> as a result of said agreement and all supplements thereto. <br /> (2) As to permanent Water Main Easement from Mid - America Investment Co. to the <br /> City of Clive, Iowa, dated November 21, 1988 and filed May 23, 1989 in Book 6103 at <br /> Page 595 in the records of Polk County, Iowa. <br /> The above referenced Water Main Easement has received final approval from <br /> the City of Clive, Iowa. <br /> (3) Terms and conditions of that certain Agreement to Construct a 31 Foot Back to <br /> Back Curb and Gutter Section with Storm Sewer and Petition and Waiver from the City <br /> of Clive to Mid - America Investment Co., dated August 31, 1989 and filed September 13, <br /> 1989 in Book 6147 at page 580 in the records of Polk County, Iowa. <br /> Borrower has by a good and sufficient bond with proper surety thereon executed <br /> a bond to the City of Clive, Iowa to pay and protect the City of Clive, Iowa as to <br /> all obligations of Borrower to the City of Clive, Iowa. There are no defaults by <br /> Borrower under said agreement and all sums due from Borrower have been <br /> properly bonded and no lien exists against the real estate setforth on Exhibit A as <br /> a result of said agreement. <br /> (4) Terms and conditions of that certain Agreement Re Woodland Parkway <br /> Improvements between Mid - America Investment Co., and City of Clive, Iowa, dated <br />
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