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If off-street parking spaces cannot be provided on the same lot as the principal building (as stated in SMC 17.105.040), such facilities may be located on another parcel within 500 feet of the premises to be served, provided:

(1) The owner of such parking area enters into an agreement with the city of Stanwood providing that the land comprising the said parking area shall not be disposed of, nor the use changed, except in conjunction with the sale of the building that the parking area serves, as long as the facility is required.

(2) The owner agrees to bear the expense of recording the agreement and agrees that said agreement shall bind his heirs, successors, and assigns. (Ord. 929 Ch. 10(C)(6), 1995).