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INNINIIIININIIWMNINIIIIII NI <br />Record ID 4137278 <br />558797.009 <br />Return to: <br />Chicago Title Insurance Company <br />222 South Ninth Street, Suite 3060 <br />Minneapolis, MN 55402-3808 <br />File No. 239887 <br />[Reserved for Recording Data] <br />RIGHT OF RE-ENTRY AGREEMENT <br />This Right of Re-entry Agreement is entered into on, 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 />Recitals <br />A. On2018 the "Closing"), <br />( g ), Seller conveyed title of the <br />following Prop6rty to Buyer: <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 as <br />set forth below. <br />C. As indicated in Section 29 of the Purchase Agreement between the City of <br />Ramsey and CAP Acquisitions LLC, dated September 26, 2017 (the "Purchase <br />Agreement"), it is the intent of the parties to: (a) create and set forth a right of re- <br />entry in favor of Seller in the event Buyer fails to obtain a Building Permit (as <br />defined in the Purchase Agreement) for the Project described in Recital D below <br />within six (6) months following Closing; and (b) create and set forth a right to <br />impose a penalty on Buyer in the event Buyer fails to obtain a Certificate of <br />Occupancy for the Project within thirty (30) months following Closing. <br />D. Project Description: <br />i. Affinity at Ramsey Site Plan, approved by the City of Ramsey on <br />February 27, 2018 by Resolution #18-033. <br />