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[Reserved for Recording Data] <br />RIGHT OF RE-ENTRY AGREEMENT <br />This Right of Re-entry Agreement is entered into on , 2019, by <br />and between the City of Ramsey, a Minnesota municipal corporation (`Seller"), and <br />Knoll Properties, LLC, a Minnesota Limited Liability Company ("Buyer"). <br />A. On <br />to Buyer: <br />Recitals <br />, 2019, Seller conveyed title of the following Property <br />LOT 1, BLOCK 1, ANDERSON DAHLEN SOUTH ADDITION, Anoka County, <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 Knoll <br />Properties, LLC, dated April 23, 2019, Section 28, it is the intent of the parties to <br />create and set forth a right to impose a penalty or a right of re-entry in favor of <br />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 />