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ANOKA COUNTY MINNESOTA <br /> F Document No.: 612539.008 TORRENS <br /> 09/15/2023 03:40 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 ��.,� Z Z, , 2023, by and <br /> between the City of Ramsey, a Minnesota municipal corporation("Seller"), and Ramsey <br /> Properties, LLC, a Minnesota Limited Liability Company ("Buyer"). <br /> Recitals <br /> A. on A tl Lit S T 2.�, 2023 Seller conveyed title of the following Property <br /> e <br /> > y g p rty _ <br /> to Buyer: <br /> Lot 1, Block 1,Ramsey Properties Addition,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 <br /> Schiebout Family Limited Partnership, LLLP, LLC, dated August 26, 20225 <br /> Section 28, and the Second Amendment to Purchase Agreement between the City <br /> of Ramsey and Ramsey Properties, LLC, Section 5, dated June 27, 20235 it is the <br /> intent of the parties to create and set forth a right to impose a penalty or a right of <br /> re--entry in'favor of Seller in the event 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 <br /> - the Property pursuant to Paragraph 3, or to re--enter and take possession of the <br /> p <br /> Return to., <br /> Guaranty.Commercial Title,Inc. <br /> 465 Nicollet"Mall,Suite 230 <br /> Minneapolis,M N 55401 <br />