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ANOKA COUNTY MINNESOTA <br /> Document No.: 596876.003 To RRENS <br /> 12/29/2021 02:16 PM <br /> Fees/Taxes in the Amount of: $46.00 <br /> Pamela J. LeBlanc <br /> Anoka County Property Records and Taxation <br /> Property Tax Administrator and <br /> Recorder/Registrar of Titles <br /> Deputy: mlearnes <br /> [Reserved for Recording Data] <br /> RIGHT OF RE-ENTRY AGREEMENT <br /> This Right of Re-entry Agreement is entered into on December 29, 2021, by and <br /> between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Stories <br /> Foundation, a Minnesota Nonprofit Corporation ("Buyer"). <br /> Recitals <br /> A. On December 29, 2021, Seller conveyed title of the following Property to Buyer: <br /> Out of B, COR STONE BROOD.ACADEMY, 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 Stories <br /> Foundation, a Minnesota Nonprofit Corporation, with an Effective Date of <br /> October 29, 2020, Section 28, it is the intent of the parties to create and set forth a <br /> right to impose a penalty or a right of re-entry in favor of Seller in the event Buyer <br /> 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 reenter and tale possession of the <br /> Property pursuant to Paragraph 4, in the event that any of the following Conditions <br /> are not satisfied by Buyer: <br /> 1'' <br /> f <br />