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111111111111111,111111,1!1111111 <br />8III <br />2215051.007 <br />[Reserved for Recording Data) <br />RIGHT OF RE-ENTRY AGREEMENT <br />This Right of Re-entry Agreement is entered into on ,,,�e„n a , 2018, by <br />and between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and <br />Centra North, LLC, a Minnesota Limited Liability Company ("Buyer"). <br />A. On <br />to Buyer: <br />Recitals <br />, 2018, Seller conveyed title of the following Property <br />Lots 1 through 10, Block 1, Lots 1 through 6, Block 2, Lots 1 through 9, Block 3, <br />Lots 1 through 6, Block 4, Lots 1 through 9, Block 5, and Outlots A, B and C, <br />COTTAGES AT THE COR <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 Centra <br />Homes LLC, dated February 13, 2018, Section 29, 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 />LBW TO: 5 l q t <br />LAND <br />