Agenda - Council - 04/09/2024 - Laserfiche WebLink

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[Reserved for Recording Data] RIGHT OF RE-ENTRY AGREEMENT This Right of Re-entry Agreement is entered into on , 20241 by and between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Blanery LLC, a Minnesota Limited Liability Company ("Buyer"). Recitals A. On , 2024, Seller conveyed title of the following Property to Buyer: All that part of the North 200 feet of the South 233 feet of the South Half of the Southeast Quarter of Section 27, Township 32, Range 25, Anoka County, Minnesota, lying West of the East 1146 feet thereof, and lying East of a line parallel with the East line of said South Half of the Southeast Quarter drawn Northerly from a point on the South line of said South Half of the Southeast Quarter, a distance of 266.00 feet East of the Northwest corner of Lot 1, of the duly recorded plat of Auditor's Subdivision No. 30, said Anoka County said 266.00 feet measured at right angles to the West line of said Lot 1. Anoka County PID Number: 27-32-25-44-0003 (the "Property") B. Title to the Property was conveyed subject to Buyer fulfilling certain Conditions as set forth below. C. As indicated in the Purchase Agreement between the City of Ramsey and Blanery LLC, with an Effective Date of , 2024, Section 28, it is the intent of the parties to create and set forth a right to impose a penalty or a right of re-entry in favor of Seller in the event Buyer fails to satisfy the Conditions.