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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 , 20231 by and <br />between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Ramsey <br />Properties, LLC, a Minnesota Limited Liability Company ("Buyer"). <br />RPritalc <br />A. On , 2021, Seller conveyed title of the following Property <br />to Buyer: <br />Lot 1, Block 1, Ramsey Properties 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 <br />Schiebout Family Limited Partnership, LLLP, LLC, dated August 26, 2022, <br />Section 28, and the Second Amendment to Purchase Agreement between the City <br />of Ramsey and Ramsey Properties, LLC, Section 5, dated June , 20231 it is <br />the intent of the parties to create and set forth a right to impose a penalty or a right <br />of re-entry in 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 />