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2) The City Council authorizes the City Administrator and Mayor to execute a Release of <br />Right of Re -Entry Agreement and to file in the Office of the Registrar of Titles / <br />Recorder in Anoka County, Minnesota after conveyance of the unencumbered Property <br />is provided to the City. <br />3) That the City Council hereby authorizes refunding $49,295.75 to Stories Foundation to <br />recoup the city incurred closing costs and cost of an Option for the Property from fund <br />9295.1420 — Land Held for Resale account contingent on proof of clear, unencumbered <br />title to the Property. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Musgrove, and upon vote being taken thereon, the following voted in favor thereof: <br />Mayor Kuzma <br />Councilmember Howell <br />Councilmember Musgrove <br />Councilmember Olson <br />Councilmember Specht <br />Councilmember Woestehoff <br />and the following voted against the same: <br />None <br />and the following abstained: <br />None <br />and the following were absent: <br />Councilmember Riley <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />the 27th day of August, 2024. <br />ATTEST: <br />9YJa1, <br />Mayor <br />Resolution #24-224 <br />Page 2 of 3 <br />