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[Reserved for Recording Data] <br /> RIGHT OF RE-ENTRY AGREEMENT <br /> This Right of Re-entry Agreement is entered into on , 20241 by and <br /> between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and T5 <br /> Ramsey LLC, a Minnesota Limited Liability Company ("Buyer"). <br /> Recitals <br /> A. On , 2024, Seller conveyed title of the following Property <br /> to Buyer: <br /> Lot 1, Block 1, GH Ramsey, Anoka County, Minnesota (the "Property") <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 Garage <br /> RE LLC & or Assigns, with an Effective Date of February 27, 2024, Section 28, <br /> it is the intent of the parties to create and set forth a right to impose a penalty or a <br /> right of re-entry in favor of Seller in the event Buyer fails to satisfy the <br /> Conditions. <br /> D. Garage RE LLC & or Assigns, a Minnesota Limited Liability Company has <br /> assigned the Purchase Agreement dated February 27, 2024 to T5 Ramsey LLC, a <br /> Minnesota Limited Liability Company <br /> Agreement <br /> .o <br /> 1. The recitals are incorporated herein as if fully set forth. <br />