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Exhibit C <br /> [Reserved for Recording Data] <br /> RIGHT OF RE-ENTRY AGREEMENT <br /> This Right of Re-entry Agreement is entered into on 1 20245 by and <br /> between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Centra Homes <br /> LLC, a Minnesota Limited Liability Company("Buyer"). <br /> Recitals <br /> A. On 5 2024, Seller conveyed title of the following Property to Buyer: <br /> Part of Outlot A, COR TWO, to be platted as: <br /> Part of Outlot A, Ramsey Properties Addition, to be platted as: <br /> T.B.D. Anoka County, Minnesota <br /> PID Number: Portion of 28-32-25-22-0058 ("Property") <br /> B. Title to the Property was conveyed subject to Buyer fulfilling certain Conditions as set forth <br /> below. <br /> C. As indicated in the Purchase Agreement between the City of Ramsey and Centra Homes <br /> LLC, dated , Section 28, it is the intent of the parties to create and <br /> set forth a right to impose a penalty or a right of re-entry in favor of Seller in the event <br /> 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 the <br /> Property pursuant to Paragraph 3, or to re-enter and take possession of the Property pursuant <br /> to Paragraph 4, in the event that any of the following Conditions are not satisfied by Buyer, <br /> excepting therefrom any delays caused by conditions outside of the reasonable control of <br /> Buyer: <br /> a. Buyer must obtain certificates of occupancy for the construction of forty (40) single <br /> family townhomes pursuant to the following schedule: <br /> Construction Deadline Schedule: <br /> Eight(8) certificates of occupancy within sixteen(16) months after Closing; <br /> Page 4 of 8 <br />