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6998370 <br />FLOWAGE AND CONSERVATION EASEMENT <br />AND WAIVER OF DAMAGES <br />THIS INDENTURE, made and entered into this d(j)& day of O,)t,v A-~1998, <br />by and between VCI Capital, Inc. a Minnesota corporation, and its successors and <br />assigns (collectively referred to hereinafter as the "Grantor") and the City of Orono, its <br />successors and assigns, a municipal corporation under the laws of the State of <br />Minnesota (hereinafter referred to as "Grantee"). <br />WITNESSETH, Granter. for and in consideration of the sum of One Dollar <br />($1 .00), and other valuable consideration, hereby covenants, grants, gifts, quit claims <br />and conveys to Grantee the right to restrict, and Grantor agrees to limit and preciude <br />the use , improvement and development, under the conditions and covenants herein <br />contained, the following described Land in the County of Hennepin and State of <br />Minnesota: <br />See Exhibit A attached hereto and made a part hereof (the "Land") <br />as follows : <br />1. Granter hereby covenants and agrees: <br />A. No structures shall be constructed , erected, or placed upon, above <br />or beneath the Land including without limitation, fences, fireplaces, <br />steps , docks, piers, hardcover or roads of any nature whatsoever, <br />or any other structure or improvement inconsistent with the natural <br />state of the land , except that nothing in this Flowage and <br />Conservation Agreement shall prohibit Granter from constructing a <br />private dock on the Land to provide access to Lake Minnetonka in <br />the event that Granter is successful in obtaining the necessary <br />permits for such dock from the City and any other agencies which <br />may regulate docks or wetlands . <br />B. No trees, shrubs or other vegetation shall be destroyed, cut or <br />removed from the Land except as authorized by written consent of <br />Grantee. <br />C. No earth, loam, peat, gravel, soil or any other natural material or <br />substance shall be removed from the Land and there shall be no <br />dredging or excavation of any nature whatsoever or any change of <br />the topography of the Land without the written consent of Grantee.