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AGREEMENT <br /> THIS AGREEMENT ("Agreement") is made and entered into by and between <br /> Larry Palm and Sheryl Palm, husband and wife ("collectively referred to as the "Palms") <br /> and Sandy Erickson and Maggie Erickson, husband and wife ("collectively referred to as <br /> the "Ericksons"). <br /> WHEREAS, the Palms are the current owners of certain real property located in <br /> Hennepin County, Mim-iesota and wluch is cominonly known as 1146 Wildherst Trail, <br /> Orono, Miruzesota(the "Palms' Property"); <br /> WHEREAS, the Ericksons are the current owners of certain real property <br /> located in Hennepin County, Minnesota a.nd which is commonly known as 4455 Forest <br /> Lake Landing, Orono, Minnesota(the "Ericksons' Property"); <br /> WHEREAS, as a result of the topography of the Palins Property, the City of <br /> Orono ("City") is requirii�g the Palms to construct a retaining wall on their Property; <br /> WHEREAS, in order to comply with the City's request, a portion of the Palms' <br /> retaining wall will need to encroach on the Ericksons' Property; <br /> WHEREAS, the Pahns and the Ericksons desire to enter into this Agreement, <br /> wherein the Ericksons are williiig to allow a portion of the Palms' retaining wall to be <br /> located on their Property on the condition that the Palms maintain the retaiiung wall as <br /> provided herein. <br /> NOW, THEREFORE, for good and valuable consideration, the receipt and <br /> adequacy of which is hereby acki.lowledged,the parties hereby agree as follows: <br /> 1. The recitals stated above constitute asld forill an integral pai�t of tlus <br /> Agreement as if stated herein in full. <br /> 2. On the condition tliat the Palms maintain the retaining wall in a good and <br /> satisfactory condition and agree to maiiitain and make any necessary repairs, at their sole <br /> e�pense, the Ericksons agree to grant permission to tlle Palms to allow for a portion of <br /> their retaining wall to be located on the Ericksons' Property. <br /> 3. Tlus Agreement shall inure to and bind the parties hereof and their <br /> respective heirs, legal representatives, successors aiid assigns. <br /> 4. The parties represent that tlus Agreeinent has been executed in fihe St�te of <br /> Mimiesota, and this Agreement shall be governed in all respects by the laws of the State <br /> of Miiuiesota. <br />