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f � <br /> ZONING PERMIT ESCROW AGREEMENT <br /> Permit# 0�0�3 - DD�{-a}3 <br /> AGREEMENT made this l 3 day of� , 20�, by and befinreen the CITY OF ORONO, <br /> a Minnesota municipal corporation("City")and�1 -i1 G�{'hU 1Gi ("Owners"). <br /> Recitals <br /> 1. A b4ilding permit application has been filed for a zoning permjt for a property lo ted at <br /> ZI(X� SV�dtdu{��1 "►-�the ("Subject Property"), legally described as �'�/,P L�!/�i�( � �C`�� <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 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 /> 1. DEPOSIT OF ESCRO�y,�F�U�NDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $ G�XJU.�with 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 wo�ic (including planning, engineering, or legal consuRant <br /> review) associated with permit #a0l3-004�L3 if compliance with the approved zoning permit is not <br /> accomplished. <br /> 3. MONTHLY BILLING. As the City receives consuftant 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 payment <br /> to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to <br /> 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 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: 1 Y OF ORONO O . __ <br /> By: 1� _ <br /> its: �.�(t�,.�.� ����� <br /> Updated: November 30,2072 <br />