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Councilmember Stewart introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #26-089 <br /> <br />RESOLUTION APPROVING RELEASE OF RIGHT OF RE-ENTRY AGREEMENT – <br />BUNKER LAKE CROSSING LLC (CHIPOTLE) <br /> <br /> WHEREAS, Bunker Lake Crossing LLC (the “Developer”) executed a Right of Re-Entry <br />Agreement (the “RORE”) with the City of Ramsey (the “Seller”) on July 28, 2025 encumbering <br />the property defined on Exhibit A, attached hereto (the “Property”), which was recorded as <br />Document number 626788.003 in the Anoka County Registrar of Titles Office; and <br /> <br />WHEREAS, Buyer has completed construction of a 2,300 SF Chipotle Restaurant and <br />has obtained a Certificate of Occupancy as required in the RORE; and <br /> <br />WHEREAS, the City Attorney has reviewed the Release of Right of Re-Entry <br />Agreement and has approved it as to form. <br /> <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) That the City of Ramsey authorizes approval and execution of the Release of Right of Re- <br />Entry Agreement dated July 28, 2025 and recorded as Document number 626788.003 in <br />the Anoka County Registrar of Titles Office by the Mayor and City Administrator; subject <br />to City Attorney review. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Specht, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> Mayor Heineman <br /> Councilmember Stewart <br /> Councilmember Specht <br /> Councilmember Buscher <br /> Councilmember Riley <br /> <br />and the following voted against the same: <br /> <br /> None <br /> <br />and the following abstained: <br /> <br /> None <br /> <br /> <br />