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Resolution 2006-43 <br />Page 5 <br />approval by the City Attorney. The conservation easement shall be in favor of the <br />City, or a land trust or both. <br />mm. The applicant shall create an endowment to the land trust for maintenance of the <br />conservation easement. The endowment shall be established where the principal <br />would generate sufficient annual interest to cover the easement holder's yearly <br />costs. The intent of this endowment is to ensure that the easement is protected, <br />not for maintenance of the open space. <br />nn. The applicant shall create an endowment fund to the homeowners' association <br />where the principal would generate significant annual interest to cover the costs of <br />maintaining the open space. Details shall be submitted for City review and <br />approval. <br />oo. The applicant shall comply with all requirements from the land trust. <br />pp. The applicant shall work with City staff to further tighten the single family home <br />design guidelines to ensure that the proposed architectural expectations for the <br />development are met. <br />qq. The HOA covenants shall address standards for the location of fencing on the <br />individual lots. <br />ff. Lots 1, 2 and 3, Block 4 shown on the preliminary plat shall be removed and shall <br />not be considered as part of any final plat approval. Final determinations as to the <br />boundaries between the private open space, the public space, and the public right- <br />of-way for this area shall be made by the City concurrent with the approval of the <br />final plat. <br />5. The following conditions shall be met prior to release of the final plat for filing: <br />a. The applicant shall dedicate Outlots A and B to the City as parkland, to meet the <br />City's park dedication requirements. <br />b. The developer or HOA shall enter into a maintenance agreement with the City for <br />the park areas. <br />6. The following conditions shall be met prior to issuance of building permits: <br />a. The applicant shall record the final plat, developer's agreement, easements and all <br />other documentation at Washington County and provide the City with proof of <br />recording. <br />ADOPTED by the City Council this 7a' day of August 2006. <br />