Agenda - Council - 02/24/2026 - Laserfiche WebLink

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event the above deadline is not met, Seller has the right to reclaim title to the parcel(s) for which a certificate of occupancy was not obtained D. The Buyer and Seller entered in to a Right of Re -Entry Agreement dated March 10, 2025 and recorded at the Anoka County Office of the Recorder / Registrar of Titles on March 10, 2025 as document number 2433982.004. E. The Buyer has requested that the required certificate of occupancy date of the Right of Re-entry Agreement be changed from March 10, 2026 to December 31, 2026. Agreement 1. The recitals are incorporated herein as if fully set forth and amend and super cede the Right of Re -Entry Agreement filed on March 10, 2025 as document number 2433982.004. 2. Seller shall have the right, but not the obligation, to either impose a penalty against the Property pursuant to Paragraph 3, or to re-enter and take possession of the Property pursuant to Paragraph 4, in the event that any of the following Conditions are not satisfied by Buyer: a. Buyer must obtain a certificate of occupancy from the City of Ramsey, for the project described below by December 31, 2026. Project Description: i. Blanery LLC Site Plan, approved by the City of Ramsey on November 12, 2024 by Resolution #24-303. ii. Development Agreement for Ramsey Properties, LLC, approved by the City of Ramsey on February 11, 2025 by Resolution #25-015. 3. Seller may impose a penalty of $50,000.00 against the Property if the certificate of occupancy is not obtained, for the construction of a minimum 8,500 square foot building, pursuant to the deadline set forth above. The penalty is due upon written notice to Buyer from Seller of the failure to satisfy a contingency. In the event the penalty is not paid within 30 days of receipt of the notice, Seller may, but is not required to, certify the penalty to Anoka County as an assessment against the Property. Buyer waives any and all rights under Minnesota Statutes, chapter 429, and any other applicable law, including any right to notice of hearing and hearing, the right to object, and the right to appeal the assessment. Buyer further waives any requirements of the City Charter that may apply to said assessment.