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ANOKA COUNTY MINNESOTA <br />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 Aug,„2 -1- ZZ , 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 Lk but S T 2.2 , 2023, Seller conveyed title of the following Property <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, 2022, <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, 2023, 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 />Return to: <br />Guaranty Commercial Title, Inc. <br />465 Nicollet'Mall, Suite 230 <br />Minneapolis, MN 55401 <br />Zpi 455-0 <br />ta <br />