2011-01008 - escrow fee - Laserfiche WebLink

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� ' ZONING P�RMIT ESCROW AGREEMENT , ' I�ermit#2011-00992 AGREEMENT made this�day af , 20�, by and befinreen the CITY OF ORONO, a Minnesota municipal corporation ("City") and Micha I & Karmen Hoxie("Owners"). Recitals 1. A building permit application has been filed for a zoning permit for a property located at 1350 Rest Point Lane the ("Subject Property"), legally described on Exhibit A. 2. Owner requests the City to review this application. 3. The City will commence its review of the application and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AiS FOLLOWS: 1. DEPOSIT Of ESCROW FUINDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit$600.00 rivith the City. All accrued interest, if any, shall be paid to the City to reimburse the City for its cost in administering�he escrow account. 2. PURPOSE OF ESCROW. Th� purpose of the escrow is to guarantee reimbursement to the City for all out-of-pocket costs the City has incurred (including planning, engineering or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a zoning permit application. The escrow will also guarantee reimbursement to the City for all out-of- pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review)associated with permit#2011-00992 if compliance with the approved zoning permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw firom the escrow account without further approval of the Owners to reimburse the City for eligible expenses the City N�as incurred. 5. CLOSING ESCROW. The E�alance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completedland written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGE$. If the project is abandoned by Owners, or if the eligible expenses incurred by the Ci exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the su ' pro rty purs to Minn. Stat. §§415.01 and 366.012. CITY: C OWN � i By: its: _ . _. �._ � .. __ _ :,�� ,:. �.. ..� __.� �.�.,. ��r.��