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, � , , �r�� � ✓ <br /> ZONiNG PERMIT ESCROW AGREEMENT <br /> Orono Zoning Permit# /D�5��-3 <br /> AGREEMENT made this�day of ` � � , 20�Q, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and D� df � ("Owners"). <br /> Recitals <br /> ,�7� �'�.Y_ �A building permit application has been filed for a zoni � ermit or a property located at <br /> •a�. ,�v,,r,�'iz.Tln�, �he ("Subject Property"), legally described as , <br /> Hennepin County Minnesota. �� W �������� ��� <br /> 2. Owner requests the City to review this application. �+0 �� <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 ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $�700.p0 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 atso 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 (including planning, engineering, or legal consultant <br /> review) associated with zoning permit # /D-�y 93 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 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 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 /> subjec,f,proper�ty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CI OWNER: <br /> By: <br /> �ts: <r�°J�i �' �� a�-�Pi4�--� <br /> u��.--��� G`/f- <br /> p��';/[�,� jy�y}+�� 3� '�"FYr/��}�qM1S� �MMiP*"nY H� shCw� '�e.+JT"6' p <br /> �FiSEs` � �T .7�t1@M1:`4.k'�..�G.� »�i7""'�R. l,��� ., �'�.�...�s .��;'�,V a��'� . .w . . , .!cr <br />