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WHEREAS, the construction of the proposed Stone Brook Children's Academy will <br />result in the need of MK Johnson Properties, LLC to access adjoining city -owned properties <br />during construction. In order to allow for said access, a separate right -of -entry agreement must <br />be authorized by the City of Ramsey; and, <br />WHEREAS, MK Johnson Properties, LLC has formally applied for a $100,000 City of <br />Ramsey EDA Loan, which has been reviewed by the City of Ramsey, and underwritten by <br />CMDC Business Loans. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City of Ramsey hereby declares the Property to be surplus City -owned land, and <br />authorizes the property to be sold. <br />2) That the City of Ramsey hereby approves the sale of the Property to MK Johnson Properties, <br />LLC for a total of $121,852.50 for the development of a roughly 9,500 square foot Children's <br />Academy and Childcare Center. <br />3) That the City of Ramsey hereby approves the attached Purchase Agreement Amendment #1, <br />with MK Johnson Properties, LLC, dated August 08, 2017. <br />3) That the City of Ramsey hereby authorizes and requires a Right -of -Re -Entry Agreement, with <br />MK Johnson Properties, LLC, to be recorded against the Property at the closing of this land <br />transaction. <br />4) That the City of Ramsey authorizes and requires a Right -of -Entry Agreement, with MK <br />Johnson Properties, LLC, be approved before the closing of this land transaction. <br />5) That the City of Ramsey hereby approves and authorizes a $100,000 EDA Loan for MK <br />Johnson Properties, LLC, and shall require the attached loan documents (loan agreement, <br />promissory note, guaranty, mortgage) to be executed before disbursement of loan proceeds. <br />6) That the City of Ramsey hereby authorizes the City Administrator and Mayor to sign any and <br />all documents necessary to close on the sale of the Property, to close on the proposed EDA <br />Loan, and execute any documents outlined in this Resolution, consistent with City Charter <br />and State law requirements. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />, and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />Resolution #17-08-200 <br />Page 2 of 3 <br />