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■ liim <br />■ X <br />^ ■ ^#*(* <br />(*■ <br />REZONING AGREEMENT FOR PROPERTY <br />KNOWN AS THE STUBB'S BAY MARINA PROPERTY <br />* ' . <br />THIS AGREEMENT, made and entered into this 15th day of <br />January, 1980, by and between James K. McCleary and Carolynne M. <br />McCleary, their heirs, successors and assigns who are the <br />owners of the property legally described on Exhibit A attached <br />hereto and incorporated herein by reference, hereinafter <br />referred to as "Owners” and the City of Orono, a municipal <br />corporation, hereinafter referred to as the "City." <br />WITNESSETH: <br />WHEREAS, Owners have requested the City ic change <br />the zoning of the above described property from B-2: Lakeshore <br />Business District to an LR*-1A: One Family Lakeshore Residential <br />District to allow for the development of the above described <br />property consisting of approximately two acres and 240 <br />lineal feet of shoreline on Lake Minnetonka, into three <br />separate single family lots with homes thereon, and <br />WHEREAS, the City has found that the proposed rezoning <br />of said property pursuant to this rezoning agreement would <br />be in the public interest and would promote the health, <br />safety and welfare of the public, and <br />WHEREAS, in order to induce the City to change the <br />zoning of the above described property and to grant the <br />variances related thereto as provided for herein, the <br />Owners agree to lay out, develop, maintain and restrict <br />the development of the above described property as herein­ <br />after set forth; <br />NOW, THEREFORE, it is agreed that for and in consider­ <br />ation of the City's adopting an ordinance rezoning the <br />above described property from B-2: Lakeshore Business <br />District to LR-IA: One Family Lakeshore Residential District <br />with variances granted as set forth hereinafter, the Owners <br />agree to restrict the development of the above described <br />property as set forth hereinafter: <br />1. The development of the property shall take place <br />generally in accordance with the concept plan, a copy of <br />which is attached hereto as Exhibit B. <br />2. A preliminary and final plat in conformance with <br />Exhibit B shall be submitted to the City for its approval <br />as soon as possible by the Owners.