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. . �.-, -'�. <br /> ZONING PERMIT ESCROW AGREEMENT <br /> Orono Zoning Permit#_�0 � U — (Jb 7�� <br /> AGREEMENT made this �—'�1 day of ��, 20�, by and befinreen the CITY OF ORONO, <br /> a Minnesota municipal corporation (°City") and � ("Owners"). <br /> , <br /> Recitals �c:..,c�c„t'• 0�,� <br /> 1. building permit application has been filed for a zoning permit for a property located at <br /> I Sbt� � �the ("Subject Property"), legally described as (,�� a.�'�hd �`3 ���.f�� <br /> Henne m County Minnesota. <br /> 2. Owner requests the City to review this application. <br /> 3. The City will commence its review of the application and incur costs associated with said review <br /> only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 7. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $��_�lnrith the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering or legal consultant review) or will <br /> incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible <br /> for under a zoning permit application. The escrow will also guarantee reimbursement to the City for all out-of- <br /> pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater <br /> Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be <br /> used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to <br /> public property or infrastructure that is caused by the wor (including planning, engineering, or legal consultant <br /> review) associated with zoning permit #��(Z�if compliance with the approved zoning permit is not <br /> accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make <br /> payment to tMe City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay <br /> all expenses invoiced pursuant to#3. The City may draw from the escrow account without further approval of the <br /> Owners to reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owners when the review has been completed and written notification is received from the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligibte expenses <br /> incuRed by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: OF O � OWNER: ,�'�, <br /> �` � �`' , <br /> By: l% <br /> its: � 1 � �c <br /> Internal Use Only: G Original#o Finance,Department I�'Gopy to`Str+eet'File �Create Permit lst) <br /> Reset Form <br />