Agenda - Council - 09/12/2023 - Laserfiche WebLink

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Each total certificate requirement outlined above shall include all certificates of occupancy received during the current deadline period and all prior deadline periods. For instance, if sixteen (16) certificates of occupancy are received within sixteen (16) months after Closing, Buyer shall have no requirement to obtain any additional certificates of occupancy within twenty-eight (28) months after Closing. At Closing, a "Right of Re -Entry Agreement" must be executed, in substantially the same form as attached hereto as Exhibit C, and recorded to the Property providing that, in the event any of the above deadlines are not met, Seller has the right to reclaim title to the parcels for which certificates of occupancy have not been obtained, or in the alternative, and at Seller's sole discretion, Buyer shall pay Seller $20,000 for each certificate of occupancy that is not obtained pursuant to the deadlines set forth above. 5. EXHIBITS. Exhibit C of the Original Agreement is hereby amended in its entirety as follows: see attached Exhibit C. Agreement 1. AMENDMENT APPROVAL. Buyer and Seller hereby approve this First Amendment as modified by the above Recitals, which are hereby incorporated herein. 2. REMAINING TERMS. All other provisions of the Original Agreement remain unchanged except to the extent inconsistent with the terms of this First Amendment. If any term(s) of this First Amendment shall conflict with any term(s) of the Original Agreement, the term(s) of this First Amendment shall control in all respects. The terms used in this First Amendment have the same meaning as in the Original Agreement. SELLER: City of Ramsey, a Minnesota municipal corporation 9H Mark E. Kuzma, Mayor Brian Hagen, City Administrator BUYER: Centra Homes LLC 0 David Pattberg, Vice President of Land Dated: , 2023 Dated: , 2023 Dated: , 2023 Page 2 of 8