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fiLCfiEEMERT <br />1. Parties. This is an agreement by and between <br />Smith's Bay Marina, Inc. (hereinafter "Smith's Bay") and the <br />City of Orono, Minnesota (hereinafter the "City"). <br />2. Rec.i Lais.. <br />a. Smith's Bay is the fee owner of the following <br />legally described real property: <br />Lots 22 and 23, "Ora Park" on Lake Minnetonka <br />and tnat part of Lake Street lying between the <br />ex’ienaions of tilt side line of said Lots 22 <br />and 23 and between the front lines of said <br />Lots and the Northwesterly line of the Right <br />of Way of County Highway No. 7 being a line <br />parallel to and 33 feet Nortwesterly from the <br />center line of the existing pavement of said <br />Highway, Hennepin County, Minnesota <br />(hereinafter "the property"); <br />b. The property contains three structures, <br />including a duplex and two cabins (hereinafter "duplex," <br />"Cabin 1" (south edge of lot) and "Cabin 2" (west edge <br />of lot), or collectively the "cabins"). <br />c. At its meeting January 11, 1988, the City <br />Council passed Resolution No. 2349 attached hereto as <br />Exhibit A finding Cabin 1 a hazardous building and <br />ordering its repcir or removal. <br />d. At its meeting on January 11, 1988, the City <br />Council passed Resolution No. 2350 (attached hereto as <br />Exhibit B), finding Cabin 2 a hazardous building and <br />ordering its repair or removal. <br />e. In the above-referenced resolutions the City <br />Council identified a range of hazardous conditions, <br />including failure to hook up either cabin to available <br />City sewer. <br />f. The City served on Smith's Bay an Order to <br />Raze and -remove Hazardous Building dated November 21, <br />1988 whj- ‘i 15 at*-ached as Exhibit C. <br />g. Smith's Bay submitted an Answer to said Order <br />dated De*. iinber 12, 1988, denying the hazardous <br />conditions alleged by the City. <br />. i