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NOW, THEREFORE, THE PARTIES TO THIS COVENANT AGREE TO THE <br /> FOLLOWING: <br /> 1. Applicants' request for one (1) Oversized Accessory Structure ("OAS") on the Subject <br /> Property is approved conditioned upon the execution of this Covenant by the City and the <br /> Applicants. <br /> 2. The following conditions shall control the existence of the OAS: <br /> A) No future subdivision of the Subj ect Property will be approved that places the OAS <br /> within a lot that has no principal structure. <br /> B) Should Applicants wish to subdivide the Subject Property, the OAS rnay remain <br /> without a principal structure for a period to be determined by the Orono City Council. <br /> If no principal structure is fully constructed and completed on the property by the end <br /> of the determined period, the OAS must be removed. <br /> C) Should Applicants subdivide the Subject Property,the OAS and the principal structure <br /> shall be located within the same lot,which meets the minimum lot area requirement <br /> based upon the size of the accessory building,which lot area requirement is detailed <br /> in Section 78-1434(2) of the Orono Municipal Code. Setback requirements as <br /> defined in Section-1434 shall also apply. <br /> 3. This Covenant shall be binding upon current and future owners of Subject Property, and shall <br /> be filed within the chain of title of the Subject Property. <br /> 4. Fee owner(s) of the Subject Property, if not the Applicants, consent to the execution of this <br /> Covenant and to its terms, as shown by his/her/their signature(s) upon this document. <br /> Page 2 of 4 <br />