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NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City Council hereby authorizes the sale of Lot 1, Block 1, COR FOUR (the <br />"Property") to Aldi Inc., a Minnesota Corporation and/or its assigns, for $725,000 on <br />+/- 2.81 acres (122,404 square feet) as outlined in Exhibit A (the "Purchase Price") <br />subject to contingencies included in the Purchase Agreement. The per square foot cost is <br />$5.92 based on the final acreage of the final plat; subject to City Attorney review <br />2) That the City Council hereby authorizes execution of the Easements, Covenants and <br />Restrictions (ECR) Agreement; subject to City Attorney review. <br />3) That the City Council hereby authorizes execution of the Second Amendment to <br />Amended Declaration of Easements, Covenants and Restrictions for COR TWO <br />(Amended Declaration); subject to City Attorney review. <br />4) That the City Council hereby authorizes execution of the Right of Re -Entry Agreement <br />5) That the City Council hereby authorizes the City Administrator and Mayor to sign any and <br />all documents necessary to close on the sale of the Property, consistent with Charter and <br />State law requirements; subject to City Attorney review <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />and upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />the 26th day of September, 2023. <br />ATTEST: <br />City Clerk <br />Mayor <br />Resolution #23-209 <br />Page 2 of 3 <br />