Error: Value cannot be null. Parameter name: List – when editing existing import file template

Users will receive the error - “Value cannot be null. Parameter name: List”, when the CSV file of the Import File Template is removed from the server. To fix the issue, the system should display more meaningful error.
Download and install the latest patch, which contains all fixes from previous patches. If you are running an older version, download and install the latest version and then the patch. 

Environment

 3.0.516 patch 49
 3.0.516, Service Pack 10

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