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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 , 2021, by and <br />between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and GiGi's <br />Salon and Spa, Inc., a Minnesota Corporation ("Buyer"). <br />Recitals <br />A. On , 2021, Seller conveyed title of the following Property <br />to Buyer: <br />The west half of Outlot A, COR Stone Brook Academy, to be platted as: <br />Lot 1, Block 1, GIGI ADDITION, Anoka County, 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 GiGi's <br />Salon and Spa, Inc., with an Effective Date of November 26, 2019, Section 28, it <br />is the intent of the parties to create and set forth a right to impose a penalty or a <br />right of re-entry in favor of Seller in the event Buyer fails to satisfy the <br />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 />