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WHEREAS,a Right of Re-Entry Agreement and Development Agreement will be recorded <br /> at the closing of this land transaction; and <br /> WHEREAS, T5 Ramsey LLC is a company that is active and in good standing as <br /> documented in the Office of the Secretary of State as of August 30, 2024. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY OF RAMSEY, ANOKA <br /> COUNTY, STATE OF MINNESOTA, as follows: <br /> 1) The City Council approves/authorizes the City Administrator and Mayor to execute the <br /> First Amendment to Purchase Agreement, Right of Re-Entry Agreement and <br /> Development Agreement with Garage RE LLC and/or T5 Ramsey LLC; subject to City <br /> Attorney review <br /> 2) That the City hereby approves/authorizes the sale of the Property to T5 Ramsey LLC, a <br /> Minnesota limited liability company for $279,236 on+/- 1.16 acres (50,529 square feet) <br /> legally described on attached Exhibit A (the "Purchase Price") subject to contingencies <br /> included in the Purchase Agreements; subject to City Attorney review <br /> 3) That the City Council hereby authorizes the City Administrator and Mayor to sign any <br /> and all documents necessary to close on the sale of the Property, consistent with Charter <br /> and 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 loth day of September, 2024. <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> Resolution#24-252 <br /> Page 2 of 3 <br />