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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 , 202_, by and <br />between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Roers <br />Acquisitions LLC, a Minnesota limited liability company, or its assigns ("Buyer"). <br />A. On <br />to Buyer: <br />Recitals <br />, 202, Seller conveyed title of the following Property <br />Lot 1, Block 7, Waterfront Village <br />PID Number: 28-32-25-23-0025 ("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 Roers <br />Acquisitions LLC, with an Effective Date of INSERT EFFECTIVE DATE OF <br />PA Section 28, it is the intent of the parties to create and set forth a right to impose <br />a penalty or a right of re-entry in favor of Seller in the event Buyer fails to satisfy <br />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 />