2014-01371 - escrow fee - Laserfiche WebLink

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ZONING PERMIT ESCROW AGREEMENT Permit#2014-01285 AGREEMENT made this AP PA day of /�0reAV6+/' , 2014, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City")and Tonkawa, Inc., a Minnesota corporation ("Applicant'). Recitals 1. A zoning permit application#2014-01285(the"Application") has been filed regarding Applicant's wetland project (the "Proiect") affecting those certain properties located at 520, 550 & 630 Tonkawa Road, Orono, Minnesota legally described on Exhibit"A" (the"Subject Property"). 2. Applicant requests the City to review this Application. 3. The City will commence its review of the Application and incur costs associated with said review only if the Applicant establishes an escrow to ensure reimbursement to the City of its costs in regards to the Application as further defined in Paragraph 3 below(collectively, the"City's Costs"). NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Applicant shall deposit$5,000.00 with the City(the"Escrow Funds"). All accrued interest, if any, shall be paid to the City to reimburse the City for its cost in administering the Escrow Funds. 2. PURPOSE OF ESCROW.The purpose of this Escrow Agreement is to guarantee reimbursement to the City for all of the out-of-pocket costs the City has incurred or will incur in reviewing the Application (including planning, engineering or legal consultant review). Eligible expenses shall be consistent with the reasonable expenses any applicant would be responsible for under a zoning permit application. This Escrow Agreement also guarantees reimbursement to the City for all of the out-of-pocket costs the City incurs to assure that the Project is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The Escrow Funds may also be used by the City to eliminate any hazardous conditions associated with the Project and to repair any damage to public property or infrastructure that is caused by the Project (including planning, engineering, or legal consultant review) if compliance with the approved Application is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for the City's Costs, the City will in turn send a bill to the Applicant. Applicant shall be responsible for payment to the City within 30 days of the Applicant's receipt of the bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Applicant does not make payment to the City within the timeframe outlined in Paragraph 3 above, the City shall issue a Stop Work Order until the Applicant pays all expenses invoiced pursuant to Paragraph 3 and the City may draw from the Escrow Funds without further approval of the Applicant to reimburse the City for the City's Costs. 5. CLOSING ESCROW. The balance of the Escrow Funds, if any, shall be returned to the Applicant when all of the requirements of the Application and this Escrow Agreement are complete. City Staff shall review the terms of the Application and Escrow Agreement two times per year to determine whether the requirements of the Application and Escrow Agreement have been successfully completed and whether it is appropriate to return the Escrow Funds. Applicant may also request the release of the Escrow Funds at any time following the completion of the Project and such Escrow Funds shall be released upon City Staff receiving the appropriate verification that all requirements of Application and this Escrow Agreement have been successfully completed. 6. CERTIFY UNPAID CHARGES. If the Project is abandoned by Applicant, or if the City's Costs exceed the amount of the Escrow Funds, the City shall have the right to certify the unpaid balance to the property owned by the Applicant and legally described as: Tract D, RLS No.1305, Hennepin County, Minnesota pursuant to Minn. Stat. §§415.01 and 366.012. crew rtt #a0/'J- 0/-