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BUILDiNG PERMIT ESCROW AGREEMENT Orono Building Permit�2013-00637 Zoning Permit#2013-00638 AGREEMENT made this l`��day of � , 2013, by and between the CIT1f OF ORONO, a Minnesota municipal corporation{"City")Tom&Susan Fleming("Owners"). Recitals 1. A building permit and zoning permit appiication has been filed for an arbor and landscaping iocated af 300 Stubbs Bay Road North the("Subject Property"), legalfy described as Lot 1, Block 1, Tamaradc Hill, Hennepin County Minnesota. 2. Owners request the City to review this appiication. 3. The City wili commence iks review af the applicatian and 'mcur costs associated wfth said review only if the Owner estabfishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 7. DEPOSIT OF ESCROW FUNDS. Contemporaneously wi� the execution of this Escrow F�greement, the Owners shall deposit$2,500 with the City. All accrued interest,if any, shall be paid to the Clty to reimburse the City for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the Ciry for all out-of-pocket costs fhe City has incurred (inciuding p(anning, engineering, in excess of $500, or legal cflnsultant review) or will incur in reviewing the plan. Eligibfe expenses shal! be consisterrt with expenses the Ovmers would be responsible for under a building permit appiication. The escrow will alsa guarantee reimbursement to the City for all out-of-pocket costs the City has incumed to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may a(so be used by the City to elimina#e any hazardous condfions associafed with the work and to repair any damage to public property or infrastructure that is caused by the work(including planning, engineering, or legal consultant review) associated wifh building permit #2013-00637 and zoning permit #2013-00638 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in tum 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. DISBUR3EMENT FROM ESCROW ACCOUNT. In tt�e event that the Owners do not make payment to the City wifhin the timeframe outlined in#3 above, shall issue e Stop Woric Order until the Owners pay all expen�s invoiced pursuant to #3. The City may draw from the escrow accouM without further approval of the Owmers 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 retumed ta the Owners when the review has been completed and�nrtitnen notification is received from the Owners requesting the iunds. 8. CERTIFY UNPAID CHARGES. If the projecE 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.prope�Ey pursuant to Minn. Stat.§§415.01 and 368.Q12. CRY: CITY � - OWNER; �, By: l 1ts: , �5avt, ��e-�'K.t h.�,