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