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I <br />V <br />1 <br />requirement shnil eontinue in cflcct until each of the trees planted williin 75’ of <br />the shoreline of Lake Minnetonka has reaehed a diameter of six inches, or 19 <br />inches in cireumference, at a point measured three feet above the ground. <br />Additionally, this AGREEMENT shall continue in effect for the trees to be <br />planted outside the 75’ setback from the shoreline of Lake Minnetonka for no less <br />than 5 years from their planting. <br />7. Performance Deposit: For the purposes of assuring to the City that the <br />Improvements will be completed according to the terms of this AGREEMENT, <br />and that the Vogstroms will pay all clain>s for work done and materials and <br />supplies furnished, the Vogstroms have deposited with the City at the time of the <br />execution of this AGREEMEN'I' on irrevocable letter of credit in a form <br />satisfactory to the City providing that the City is able to draw upon such letter of <br />credit in its sole discretion to enter the properly and complete the Improvements if <br />the Vogsroms fail to satisfactorily complete the work prior to the completion date <br />specified in Item 4 above. 'I'he amount of such deposit shall not be reduced <br />before substantial completion of the Improvements. The letter of credit shall <br />expire no sooner than one year aAer the completion date specified in Section 4 <br />above, or no sooner than June 30,2006, whichever is later. <br />8. llie Vogstroms and their succe.s.sors and assigns shall not trim any of the paits of <br />the trees or shrubs, or remove any of the trees or shrubs, without City of Orono <br />approval. <br />9. The vegetation within the wetland and within 26 ’ landward of the wetland <br />boundary shall not be mowed. <br />10. 'fhis AGREEMENT shall remain in effect until both parties agree to amend or <br />terminate this AGREEMEINT. lliis AGRIUiMENT may be enforced by injunctive <br />relief in the courts of the State of Minnc.sota. <br />11. This AGREEMI-!NT may be filed against the Property. The Vogstroms agree to <br />obtain the con.sent of any other holders of interests in the Property in order to <br />allow this AGRI:EMI:NT and RELEASE to be filed. <br />For the City of Orono For the Vogstroms <br />Ronald J. Moorsc <br />('ity Administrator <br />l*!ric J. Vogstrom <br />Elizabeth A. Vogstrom <br />m ^ -.mV. w X