02-28-2005 Council Packet - Laserfiche WebLink

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6. The Vogslroms and their successors and assigns shall allow an annual inspection by the City of Orono to determine that the trees, shrubs and groundcovers are growing, and the Vogstroms and their successors and assigns shall replant any trees, shrubs or groundcovers that are dead or dying, and shall use best cITorts to facilitate the life and growth of the trees, shrubs and groundcovers. 'Hiis requirement shall continue in effect until each of the trees planted within 75’ of the shoreline of Lake Minnetonka has reached a diameter of six inches, or 19 inches in circumference, at a point measured tliree feet above the ground. Additionally, this AGREEMENT shall continue in effect for the trees to be planted outside the 75’ setback from the shoreline of Lake Minnetonka for no less than 5 years from their planting. 7. Performance Deposit: For the purpo.ses of a.ssuring to the City that the Improvements will be completed according to the terms of this AGREEMENT, and that the Vogstroms will pay all claims for work done and materials and supplies furnished, the Vogstroms have deposited with the City at the time of the execution of this AGREEMENT an irrevocable letter of credit in a form satisfactory to the City providing that the City is able to draw upon such letter of credit in its .sole di.scretion to enter the property and complete the Improvements if the Vogsroms fail to satisfactorily complete the work prior to the completion date specified in Item 4 above. The amount of such deposit shall not be reduced before substantial completion of the Improvements. The letter of credit shall expire no sooner than one year aAer the completion date specified in Section 4 above, or no sooner than June 30, 2006, whichever is later. 8. The Vogstroms and their succes.sors and assigns shall not trim any of the parts of the trees or shrubs, or remove any of the trees or shrubs, without City of Orono approval. 9. The vegetation within the wetland and within 26’ landward of the wetland boundary shall nut be mowed. 10. This AGRIiEMENT shall remain in effect until both parties agree to amend or terminate this AGREEMENT. Tliis AGREEMENT may be enforced by injunctive relief in the courts of the State of Minnesota. 11. niis AGREEMEN T may be filed against the Property. The Vogstroms agree to obtain the consent of any other holders of interests in the Prop«*rty in order to allow this AGRL:EMI;N f and Rl-LEASE to be filed. Page 2 ol' 3