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. ,---� . �... /. 1 � �7 . �,' ,:..L�r" -�-; j,-�.� DEMOLITION PERMIT, BUILDING PERMIT� � WETLAND BUFFER ESTABLISHMENT ESCROW AGREEMENT Demolition Permit#2013-00089 Butiding Perm(t#2013-00126 AGREEMENT made this�day of r 20,�, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City")and Q� ("Owners"). Recitals 1. A building permit application has been filed for a new principal structure located at 4300 Sixth Avenue North, the ("Subject Property"), fegally described as Lots 2 and 3, all in Block 1, Sharon Hills and Outlots A and B,Winters Plentywood, Hennepin County, Minnesota. 2. Owners request the City to review this appiication. 3. The City will commence its review of the application and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, If any, shall be paid to the City to reimburse the City for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escraw is to guarantee the establishment and development of the required native wetland buffer and reimbursement to the City for all out-of-pocket costs the City.has incurred (including planning, engineering, in excess of$500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners woufd be responsible for under a building permlt application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono Clty Code Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to pubEic property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review) associated with Demolltion Permit #2013-00088 8� Butlding Permit # 2013-001126 if compliance with the approved building permit is not accomplished. 3. MONTHLY BIl.LING. As the City receives consultant bills for incurred.costs, the City will in turn send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City within the timeftame outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the revisw has been completed,the buffer is established and written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the subject property pursuant to Minn..Stat. §§415.01 and 366.012. CITY; CITY OF ORONO OWNER: Bv:� ` f1l,ti��l��.1�' ,� '� - . , , ,, �t8: '�- , . �ntern�l Use OnIY. . ;`._� ...._ �O�Iginal to�lannln9.._.__ ��appY:W.Property Owner__ . `Q.Copy,to�t!"�et F(,le