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ZONING PERMIT ESCROW AGR NT <br /> Permit# Z <br /> AGREEMENT made this ,S' day of i 20_?by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City")and „/yh A, 4.,,., 'R cil- a- `f ("Owners"). <br /> Recitals <br /> 1. A building permit application has been <br /> filed for a zoning permit four amproperty ��c�d_at, <br /> �d 3Y To-, r,,,�+- ( the "Subject Property"), le all described as ��b} (S ®tA <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 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 $ 2.000 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 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 66 by the work (including planning, engineering, or legal consultant <br /> review) associated with permit #f bit 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 payment <br /> to the City within the timeframeoutlined in#3 abode, 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, 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 /> subjepursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CI �NO— OWNE <br /> By: <br /> 1 <br /> Its: <br /> IGT1�@TdiB S@ 11(jt: �&l91 <br /> Updated: April 23,2012 <br />