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NOW, THEREFORE, THE PARTIES TO THIS AGREEMENT AGREE TO THE FOLLOWING: <br /> 1. Applicants may retain the existing accessory structures, subject to the following conditions: <br /> A) Applicants agree to obtain a building permit for construction of the replacement <br /> residence within 60 days of demolition; to begin construction on the new residence <br /> within 120 days of demolition; and to complete all exterior work within 1 year of <br /> building permit issuance and interior work within 2 years of building permit <br /> issuance. <br /> B) In the event that any activity described in item A has not been accomplished within <br /> the defined timeframe, the Applicants shall remove the accessory structures at the <br /> Applicants' expense, or the Applicants shall apply for an extension of this <br /> Agreement. <br /> C) If one of the item A events occurs and the Applicants fail to perform their <br /> obligations per item B, the Applicants hereby agree as follows: <br /> 1. The City may enter upon the property and remove the accessory building(s). <br /> 2. The City may assess the costs of removal to the property. <br /> 3. The Milk House shall be removed prior to the issuance of a Certificate of Occupancy for <br /> the new residence. <br /> 4. It is the intent of the City to permit the Barn to remain on the property as long as the <br /> conditions listed in Item #1 above are met. <br /> 5. This Agreement shall be binding upon current and future owners of Subject Property, and <br /> shall be filed within the chain of title of the Subject Property. <br /> 6. Fee owner(s) of the Subject Property, if not the Applicants, consent to the execution of this <br /> Agreement and to its terms, as shown by his/her/their signature(s) upon this document. <br /> 7. Applicants shall indemnify and hold harmless the City, the City Council, and the agents <br /> and employees of the City from and against all claims, damages, losses or expenses, <br /> including attorney fees, which the City, City Council and agents and employees of the City <br /> may suffer or for which it may be held liable, arising out of or resulting from the assertion <br /> against them of any claims, debts or obligations in consequence of the performance of the <br /> terms of this agreement. <br /> 2 <br />