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A <br /> NOW, THEREFORE, THE PARTIES TO THIS AGREEMENT AGREE TO THE <br /> FOLLOWING: <br /> 1. Applicants may retain the existing home and the existing accessory structure, subject to the <br /> following conditions: <br /> A) Applicants agree to apply for a land use application pertaining to the existing home <br /> and existing detached garage within 60 days of issuance of a building permit for the <br /> new principal structure;to begin construction on the new residence within 120 days <br /> of the issuance of a building permit; and to complete all exterior work within 1 year <br /> of building permit issuance and interior work within 2 years of building permit <br /> issuance. <br /> B) In the event that any activity described in item A has not been accomplished within <br /> the defined timeframe or the land use application(s) is denied, the Applicants shall <br /> remove the existing home and existing detached garage at the Applicants' expense, <br /> or the Applicants shall apply for an extension of this Agreement. <br /> C) If one of the item A events occurs and the Applicants fail to perform their removal <br /> obligations per item B,the Applicants hereby agree as follows: <br /> 1. The City may enter upon the property and remove the existing home and <br /> accessory building(s). <br /> 2. The City may assess the costs of removal to the property. <br /> 3. This Agreement shall be binding upon current and future owners of Subject Property, and <br /> shall 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 /> Agreement and to its terms, as shown by their signature(s)upon this document. <br /> 5. Applicants shall indemnify and hold harmless the City, the City Council, and the agents <br /> and employees of the City from and against all claims, damages, losses or expenses, <br /> including attorney fees, which the City, City Council and agents and employees of the City <br /> may suffer or for which it may be held liable, arising out of or resulting from the assertion <br /> against them of any claims, debts or obligations in consequence of the performance of the <br /> terms of this agreement. <br /> 2 <br />