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2. This Agreement may be modified only by an amendment signed by tlie parties. <br />3. If the City of Orono conveys into private owrnership a fee interest in the Property <br />or any ->art thereof, it shall require as a condition of sale, and enforce: (a) that the <br />purchaser record a declaration on the property incorporating the buffer protection <br />requirements of this Agreement; and (b) that recordation occur either before any <br />encumbrance is recorded on the property or, if after, only as accompanied by a <br />subordination and consent executed by the encumbrance holder ensuring that the <br />buffer protection requirements will run with the land in peipetuity. If the City <br />conveys into public ownership a fee interest in any property that has become subject <br />to this Agreement, it shall require as a condition of the purchase and sale agreement <br />that the purchaser accept an assigmnent of all rights and obligations of the City under <br />tlris Agreement. <br />4. This Agreement shall be effective on the date of execution by the parties and shall <br />Remain in effect for a term of five years, after which it will renew automatically for <br />subsequent five year terras until modified or rescinded by written agreement of the <br />parties. <br />IN WITNESS WHEREOF, the parlies hereto have executed this Cooperative Agreement. <br />CITY OF ORONO MINNEHAHA CREEK WATERSHED <br />DISTRICT <br />Barbara A Peterson, Mayor. <br />, By <br />President, Board of Managers <br />Linda S. Vee, Clerk <br />APPROVED AS TO FORM AND <br />EXECUTION <br />Its .Attorney <br />Page 2 of 3 <br />i