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, . � <br /> ZONIMG RERMIT ESCaOW AGREEM T <br /> C�rona Zcuting Permit# 030//-O�/(c� <br /> • AGRfEMEN1'made this�day of ,20/�, by and between the Gl7Y Of OR�NO, <br /> a Minnesota municipal corporation("City")and I�,u�.T�=�� �...�.�t so��S ("Owners"). <br /> Recitats <br /> 1. a bnildin�permit application has been filed for a mning permit far a property iocated at <br /> 134� �st�'+ G+f. �OJNdI,,,�SS� (":Subject Prvperty"}, lega}ty eFescribed as Lo+- 1� �st P+ Yan1L <br /> Hennepin Courrty Minnesota. <br /> 2. Owner requests the City to review this apptication. <br /> 3. The City wii!comme�ce its review of the app4icatian and incur costs assoc(ated arith said review <br /> only if the Qwner estabtishes an escrawto ensure reimbursement ta the Citgof its costs. <br /> NOW THEREFQRE,TliE RARTtES AGFtEE AS FQLLOWS: <br /> �t. DEPOSfT O� ESCROW FUNFIS. Con#ernporaneously wi€h the executic�n of th+is Escrow <br /> Agree►nent, fhe Owners shall deposii$ 2,�iD�--with the City. Alt acccued interest, if any, shall be pa+d to the <br /> City ta reimburse tt►e City for its cost in administering fhe escrow account. <br /> 2. PURPOSE OF fSEROW.The purpose of the escruw is to guaraniee reimbursement to the City <br /> for al!out-of-pocket costs the City has incurred(i.nctuding planning, eRgineer4ng ar fegai consaltant review)or will <br /> incur in reuiewing the pian. Efigible expenses shali be consisterrt with expenses the Owners would be responsibie <br /> for under a zaning perrnit apptication. The sscrow wilf atso guarantee reimbursemestt to the City for aft out-of- <br /> pocket.costs the City has incur�ed to assure that the w�rk is compteted in accordance with the S4csrmwater <br /> Pollution Prevention Rfan and the provisions of Qrono C'ity Gode C-hapter 79. The financial security may aiso be <br /> used by the Gity to eliminate any hazardocts eand+bons associa�d with �e vuork and to repair any damage to <br /> public property or infrastruetufie that is caused by the wo�lc (including plannirrg, ertgineerinq, or tegal consultant <br /> rev'rew}ass�ociateri with zorr�ng pem�it# oZ�!!-OU!6 3if ccimptiance�nrith Ehe approvet!zoning permit is nat <br /> accomp6shed. <br /> 3. NIONTHLY BILUNG. As the City receives consultant b'rlls for irtcurred costs,the City will in tum <br /> s�nd.a biil to the Owners. Owners shali be resp�nsibte for payment to the City within 30 days of!he Owners' <br /> �eceipt of bill. <br /> 4. [)f38URSEMENT FROM ESCROW ACGOUNT. in the ever�t that d�+e flwners do not m�ke <br /> payment to the City within the timeframe outtined in#3 attove,shalF issue a Stap Work�rder unt�1 the Owners pay <br /> al!exper►ses invoiced pursuant to#3. The City may draw from the eserow account withoat fwrCher ap►xovai of the <br /> C�rners to reimburse the City for eiigible expenses the City has incurred. <br /> 5. CIOSiFIG ESCROW. The Balance un deposit in the escxow, if any, shalt be returned ta the <br /> O+nmers when the review has been completed and written n�tifrcation is receiwed from the Owners requesting the <br /> ftrnds. <br /> 6. CER'fIFY UNPAI�CNARGfS. tf the project is abandoned by Owners,or if the e.ligible expenses <br /> incurred by the City exceed the amount in escrow,the City shai]have#he right to cerMy the unpaid balance to the <br /> subjed property pursuant to Minn.Stat.§§4'[5.01 and 3fi6.Uf 2. <br /> GITY: CRY OF ORONO OWNER: � <br /> 8y: �.�C�-- <br /> Its: f-P�..� ati t� \,; �����r <br /> __ � : , _. <br />