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2. The Chavez Preserve lots that contain all or part of a garage subject to this <br />Agreement, or the Property or any portion thereof if it is not platted, cannot be <br />conveyed to a third -party unless and until the garage is demolished and all <br />remnants of the demolition are removed from the Site. <br />3. In no event shall the garages subject to this Agreement remain on the Property <br />later than one year from the date of fmal plat approval for Chavez Preserve, or 18 <br />months from the effective date of this Agreement, whichever is later. <br />4. Prior to demolition, owner shall obtain a demolition permit for the garages in <br />accordance with City Code. <br />5. In the event one or both of the garages are not demolished pursuant to the terms of <br />this Agreement, the City may retain the services of a contractor and have the <br />structures demolished. Owner hereby provides the City and its agents license to <br />enter upon the Property to effectuate the terms of this Agreement. The City may <br />withdraw funds from the escrow to pay for demolition of the structures. The City <br />shall provide Owner with documentation detailing any expenditure of funds from <br />the escrow. <br />6. Owner shall comply with the City Code restrictions on exterior storage on the <br />Property. Violations of the exterior storage ordinances may result in immediate <br />termination of this Agreement, requiring immediate removal of the garages. <br />7. The undersigned warrant they have authority to enter into this agreement and bind <br />their respective parties. <br />CITY OF LINO LAKES <br />By: Date: <br />Jeff Reinert, Mayor <br />Attest: <br />Julianne Bartell, City Clerk <br />ROYAL OAKS REALTY, INC. <br />By: Date: <br />Marcel Eibensteiner <br />Its: <br />L.. <br />