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f.r <br />l^.r' <br />■ = H- <br />'V <br />%■ <br />i -f - <br />r'A <br />r ?•':••• <br />- i- <br />'=v. <br />I’r" <br />it. <br />ik': <br />Kf'>*- r <br />Zoning Pile #1532 <br />April 7, 1992 <br />Page 2 <br />Review Exhibits D and F. As already stated, Mr. Franks no longer <br />px^oposes an amendment to the covenants involving Outlot B as <br />originally proposed to the Council in November and has been replaced <br />with a separate document involving disposition of Outlot B. The <br />document remains as a simple agreement between the property owners <br />involving the future disposition of Outlot B if the City relinquishes <br />all interest in the underlying easements. Staff would advise that the <br />disposition be amended to include the need for a lot line <br />rearrangement if Outlot B is to be divided in half and combined with <br />the property to the immediate east (the Hanson property and the <br />property to the immediate west Lot 3, B]sck 2). There is nothing in <br />the agreement that proposes any conflict with the intent of the City's <br />ordinances as did the original amendment to the covenant. <br />The City Attorney has been sent copies of the amendment involving <br />Outlot A and the disposition of Outlot B agreement. Council may wish <br />to question the City Attorney regarding the current request. <br />Staff Peconmendation <br />1.To approve the First Amendment to the Declaration of <br />Covenants, Conditions and Restrictions for the Shadowood <br />Farm that would release Outlot A from the Declaration of <br />Covenants as set forth in that Declaration and to direct the <br />Mayor and Clerk to execute the covenants on behaif of the <br />City. <br />2.To advise the developer, Fullerton Properties, Inc., that <br />the disposition of Outlot B should be amended to include the <br />need for a lot line rearrangment subdivision application if <br />the City at some time in the future releases all interest in <br />the underlying easements over Outlot B. <br />rM'