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ZONING PERMIT ESCROW AGREEMENT - ` <br /> Orono 2oning Permit# ���� ' �O �v`�`� <br /> AGREEMENT made this .��' � day of �0/0 , by and between the CITY OF ORONO, <br /> a Minnesota muniapal corporation("City")and vl.t�, /`e,�s sr+��i yN/r! c�af,rs ("Owners°). <br /> Recitals <br /> 1. A building permit application has been filed for a zoning pertnit for a property located at <br /> /99��yuioQ.�,Pd the ("Subject Prope�ty"), legally described as �e,�s 3��; :3 9 Sliad�� GcJrrc/ � <br /> Hennepin 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 assoaated with said review <br /> only if the Owner estabfishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Ov+mers shall deposit $r C� O° with the City. All accrued inte�est, 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-podcet 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 b the work (inGuding planning, engineering, or legal consultant <br /> review) assoaated with zoning permit # avi�001��/..5'�f compliance with the approved zoning permit is not <br /> accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred oosts, the City will in tum <br /> send a bitl 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 the 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 retumed 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 eligible expenses <br /> incurred 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: CITY OF ORON py�► <br /> B � �-c�-- <br /> Y• � N�� <br /> J <br /> �tS: �'i rJ G rJ(.¢_ ��s C C C..�J r <br /> � _ ......,, . .. :���'k'���s���z;������ ... .!'�, ., _„t, . s��"�r�`�`��,.., � ,�.,,. . , . _. �Create Permit ist) <br /> ,. ,s�r, �a�� ' . . . <br /> d:a^- r S �f 5'Y �R t)ryJ•1!'eMl v k� #� <br /> � i 9U y <br /> �. .. . �'�4"�� <br />