Laserfiche WebLink
[Reserved for Recording Data] <br />RIGHT OF RE-ENTRY AGREEMENT <br />This Right of Re-entry Agreement is entered into on April 24, 2018, by and <br />between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Affinity <br />at Ramsey, LLC, a Washington Limited Liability Company ("Buyer"). <br />A. On <br />to Buyer: <br />Recitals <br />, 2018, Seller conveyed title of the following Property <br />LOT 1, BLOCK 1, AFFINITY AT THE COR, COUNTY OF ANOKA, <br />MINNESOTA. <br />B. Title to the Property was conveyed subject to Buyer fulfilling certain Conditions <br />as set forth below. <br />C. As indicated in the Purchase Agreement between the City of Ramsey and CAP <br />Acquisitions LLC, dated September 26, 2017, Section 29, it is the intent of the <br />parties to create and set forth a right to impose a penalty or a right of re-entry in <br />favor of Seller in the event Buyer fails to satisfy the Conditions. <br />Agreement <br />1. The recitals are incorporated herein as if fully set forth. <br />2. Seller shall have the right, but not the obligation, to either impose a penalty against <br />the Property pursuant to Paragraph 3, or to re-enter and take possession of the <br />Property pursuant to Paragraph 4, in the event that any of the following Conditions <br />are not satisfied by Buyer: <br />