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w <br />NOW, THEREFORE, THE PARTIES TO THIS COVENANT AGREE TO THE <br />FOLLOWING: <br />1. <br />2. <br />3. <br />4. <br />Applicants ’ request fc one (1) Oversized Accessory Structure ("OAS") on the Subject <br />Property is approved conditioned upon the execution of this Covenant by the City and <br />the Applicants. <br />The following conditions shall control the existence of the OAS: <br />I <br />A) No future subdivision of the Subject Property will be approved that places the <br />OAS within a lot that has no principal structure. <br />B) Should Applicants wish to subdivide the Subject Property, the OAS may remain <br />■*without a principal structure for a period to be determined by the Orono City <br />Council. If no principal structure is fully constructed and completed on the <br />property by the end of the determined period, the OAS must be removed. <br />C) Should Applicants subdivide the Subject Property, the OAS and the principal <br />structure shall be located ^vithin the same lot, which meets the minimum lot area <br />requirement based upon the size of the accessory building, which lot area <br />requirement is detailed in Section 10.03, Subdivision 9 (C)(2) of the Orono <br />Municipal Code. Setback requirements as defined in Section 10.03, Subdivision <br />9 (C)(a) shall also apply. <br />• • <br />This Covenant shall be binding upon current and future owners of Subject Property, and <br />shall be filed within the chain of title of the Subject Property, <br />Fee owner(s) of the Subject Property, if not the Applicants, consent to the e.xecution of <br />this Covenant and to its terms, as shown by his/her/their signature(s) upon this <br />document. <br />Page 2 of 4