Laserfiche WebLink
[Reserved for Recording Data] <br />RIGHT OF RE-ENTRY AGREEMENT <br />This Right of Re-entry Agreement is entered into on , 2026, by and <br />between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Roers <br />Ramsey Apartments I LLC, a Delaware limited liability company ("Buyer"). <br />A. On <br />to Buyer: <br />Recitals <br />2026, 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 />Ramsey Apartments I LLC, with an Effective Date of Mav 29, 2025 Section 28, <br />it is the intent of the parties to create and set forth a right to impose a penalty or a <br />right of re-entry in favor of Seller in the event Buyer fails to satisfy the <br />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 />