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Lot 4 Lynn L. Charlson Lot 5 Lynn L. Charlson Lot 6 Lynn L. Charlson Lot 7 Glyde R. Scribner, John L. Peterson, Terrance D. Johnson, and LAD Development Corporation, a Minnesota corporation, own that part of Lot 7 formerly embraced by Lot 3, Auditor's Subdivision No. 207, Hennepin County, Minnesota. Lynn L. Charl°son owns that part of Lot 7 formerly embraced by Lot 4, Auditor's Subdivision No. 207, Hennepin County, Minnesota. Lot 8 Lynn L. Charlson all in Block 1, Stielow's Addition. NOW, THEREFORE, in consideratirn of the receipt of One Dollar ($1.00) • and the granting of the above private road easement for the benefited lots, the above owners of each lot so described, their heirs, assigns and successors (herein- after referred to as owners or owner) hereby covenant and agree as follows: 1) That the owners do hereby acknowledge the existence of said private road easement and the existence of the private road, and that the City of Orono has no obligation to maintain or service said private road, and that the City or Orono does not intend to ever acquire or open said private road as a public roadway. 2) That the owners will and do hereby assume and agree to pay a proportionate share of the costs of maintaining, repairing and replacing, if necessary, the private road over said easement described herein to at least a standard of quality equal to the private road as it was approved by the City of Orono as part of the subdivision of the adjoining land, and as may be required from time to time by the ordinances of the City of Orono in regard to private roads.. Each Owner's share -of such costs shall be due and payable on the date such costs for construction, maintenance or repair are due and payable to the person or entity rendering an account therefor. Each Owner's share of such costs shall bear interest at a rate of eight (8) percent per annum from such due date to the date of payment. Any Owner may bring an action, on behalf of the 0