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2. There exists a habitable single family home constructed after July 13, 1992, and the <br />creation of a new lot is needed to provide security to a third party lending institution for owner <br />financing of the existing habitable single family home. <br />home, and <br />The following conditions shall apply to any lot created hereunder: <br />3. The new lot that has a minimum area of one acre contains an existing habitable <br />4. The balance of the property is ten (10) acres or more, and <br />5. The new lot that has a minimum area of one acre contains one acre of contiguous <br />buildable land, not including road right of way, electrical transmission line easements or pipeline <br />easements, and <br />6. Both the one -acre -minimum lot and lots made from the remaining land must meet <br />all minimum lot requirements and provide for meeting setback and other structure requirements, <br />and <br />7. It can be demonstrated that all unsewered lots can accommodate the proposed <br />principal structure, onsite well if the public water system is not available, and an onsite wastewater <br />treatment system including both a primary and secondary drain field area in accordance with Minn. <br />Stat. 7080 and other applicable requirements. <br />8. For lots created under (b)2. herein, the applicant making a request for a lot split <br />based upon requirements of a lending institution shall provide written verification from the lender <br />of such requirements at the time the application is filed. <br />9. For lots created under (b)2. herein, the property owner shall record with the Anoka <br />County recorder a covenant that prohibits the transfer of any lots created under this section unless <br />the same is combined into one parcel with the balance of the owner's property from which it was <br />split or in accordance with the provisions of § 1007.042 (2)(a). This requirement shall not apply to <br />any conveyance by a lending institution who has acquired title as a result of a mortgage foreclosure. <br />(c) Two family dwellings and multiple family dwellings are not allowable uses upon <br />unsewered lots. <br />(d) All subdivisions in areas without public sanitary sewer shall be designed such that the <br />larger non-sewered lots can be resubdivided to provide smaller sewered lots when sewer becomes <br />available in the future. Homes and accessory buildings shall be located on these lots so as to allow <br />for future resubdivisions. <br />(3) Minimum Lot Area Requirements. <br />3-4 <br />