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[Reserved for Recording Data] <br />AMENDED AND RESTATED RIGHT OF RE-ENTRY AGREEMENT <br />This Amended and Restated Right of Re-entry Agreement is entered into on <br />, 2025, by and between the City of Ramsey, a Minnesota municipal <br />corporation ("Seller"), and Ramsey Properties, LLC, a Minnesota Limited Liability <br />Company ("Buyer"). <br />Recitals <br />A. On August 22, 2023, Seller conveyed title of the following Property 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 Second Amendment to Purchase Agreement between the City <br />of Ramsey and Ramsey Properties, LLC, a Minnesota Limited Liability <br />Company, with an Effective Date of August 26, 2022, Paragraph 5., <br />CONSTRUCTION DEADLINE. Buyer shall obtain a certificate of occupancy from the <br />City of Ramsey for the construction of minimum 98 unit - 4 story hotel with pool <br />compliant with COR Zoning requirements to be further defined by an approved Site Plan <br />16 months after closing; provided, however, that if completion of performance shall be <br />delayed at any time by reason of acts of God, war, civil commotion, riots, strikes, <br />picketing or other labor disputes, unavailability of labor or materials, damage to work in <br />progress by reason of fire or other casualty, or any cause beyond such Party's reasonable <br />control, then the time for performance as herein specified shall be appropriately extended <br />by the amount of the delay actually so caused. At Closing, a "Right of Re -Entry <br />Agreement" must be executed and recorded to the Property providing that, in the event <br />