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� . . `� <br /> ZONING PERMIT ESCROW AGREEMENT <br /> Permit# a?D/a�-DO�'-r'j?' <br /> AGREEMENT made this��day of �.,�11�- , 20� by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and ('f'��� �'�� �t,�pri r:� �"���f��� ("Owners°). <br /> Recitals <br /> 1. A building permit application has been filed for a zoning permi for a roperty located at <br /> ��.�- "��t.��9•�i:-,M��, �c� the ("Subject Property"), legally described as �ct}� ��,_ o��= �, U���eu;3 ��k, <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 estabiishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUND$. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $ ' DD,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#o 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 expensesthe Dwners would be responsible <br /> for under a zoning perrnit 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 {inciuding planning, engineering, or legal consultant <br /> review) associated with permit # a0! -L� if cempliance with the approved zoning permit is not <br /> accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City wili in turn <br /> send a bill to the Owners. Dwners 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, shali 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 /> su erty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CI �F �,, O NER: � <br /> ,� , : <br /> By. ` <br /> �1,(�,��, f 9 �„`"_ - <br /> �tS. -C �.�- J � <br /> � <br /> ' , <br /> Internal lJse Only: '0 Original to�Planning'Departmenf °0•Copy to'Street;Fiie <br /> Updated: April 23,2012 <br />