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V ■ <br />SETTLEMENT AGREEMENT <br />THIS AGREEMENT is entered into between the City of Long <br />Lake (Long Lake)/ a municipal corporation/ located at 1964 Park <br />Avenue, Long Lake, Minnesota 55356; and the City of Orono <br />(Orono)/ a municipal corporation, located at P.O. Box 66, <br />Crystal Bay, Minnesota 55323 <br />RECITALS <br />WHEREAS, on February 26, 1990, Long Lake filed with the <br />1 <br />Minnesota Municipal Board a petition for the concurrent <br />detachment and annexation of certain real property, which is <br />described in Exhibit A and incorporated herein by reference. <br />into the City of Long Lake pursuant to Minn. Stat. § 414.061, <br />Subd. 5, fiL afiij.; and <br />WHEREAS, on March 28, 1990, Orono filed its response in <br />opposition to the petition of Long Lake; and <br />WHEREAS, the matter is presently pending before the <br />Minnesota Municipal Board, and currently scheduled to resume <br />trial on November 25, 1991; and <br />WHEREAS, the parties desire to amicably resolve the <br />petition of Long Lake without further litigation. <br />NOW, THEREFORE, for and in consideration of the mut'jal <br />covenants contained herein, and other good and valuable <br />consideration, the parties agree as follows: <br />1. Long Lake shall forthwith file an application for <br />rezoning and subdivision approval of the subject property with <br />Orono for the development of thirteen (13) lots as described in <br />4 •< <br />.-V