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NOW, THEREFORE, THE PARTIES TO THIS COVENANT AGREE TO THE <br />FOLLOWING: <br />1. Applicants' request for one (1) Oversized Accessory Structure ("OAS") on the Subject <br />Property is approved conditioned upon the execution of this Covenant by the City and the <br />Applicants. <br />2. The following conditions shall control the existence of the OAS: <br />A) No future subdivision of the Subject Property will be approved that places the OAS <br />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 Council. <br />If no principal structure is fully constructed and completed on the property by the end <br />of the determined period, the OAS must be removed. <br />C) Should Applicants subdivide the Subject Property, the OAS and the principal structure <br />shall be located within the same lot, which meets the minimum lot area requirement <br />based upon the size of the accessory building, which lot area requirement is detailed <br />in Section 78-1434(2) of the Orono Municipal Code. Setback requirements as <br />defined in Section-1434 shall also apply. <br />3. This Covenant shall be binding upon current and future owners of Subject Property, and shall <br />be filed within the chain of title of the Subject Property. <br />4. Fee owner(s) of the Subject Property, if not the Applicants, consent to the execution of this <br />Covenant and to its terms, as shown by his/her/their signature(s) upon this document.