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BUILDING PERMIT ESCROW AGREEMENT Orono Building Permit#2014-00278 Demolition Permit#2014-00247 Land Use#14-3649 AGREEMENT made this � day of ' , 20I,, by and between the CITY OF ORONO. a Minnesota municipal corporation ("City") Derek Prchal ("Owners"). Recitals 1. A building permit application has been filed for a accessory structure located at 4705 Watertown Road the ("Subject Property"), legally described as That part of the Northwest Quarter of Section 31, Township 118, Range 23, lying Northerly and Westerly of the plat of McCulley Farm; Southerly of the centerline of County Road No. 6 as shown on HCSAH No. 6, P/at 5; and Easterly of the following described line: Commencing at the most Westerly corner of Lot 1, Block 2, McCulley Farm; thence North 81 degrees-31 minutes 11 seconds West, assumed bearing, along the North line of Lot 2, Block 2, said Addition, to the most Northerly comer of said Lot 2 and the point of beginning of the line to be described;thence North 30 degrees 41 minutes 28 seconds East a distance of 100.85 feet; thence North 29 degrees 56 minutes 30 seconds East a distance of 70.53 feet; thence Northerly along a tangential curve concave to the West having a central angle of 22 degrees 11 minutes 30 seconds and a radius of 150 feet, a distance of 58.10 feet; thence North 7 degrees 45 minutes East tangent to the last described curve a distance of 65.58 feet; thence North 9 degrees 30 minutes East a distance of 275 feet; thence North 12 degrees 30 minutes East a distance of 165 feet;thence North 20 degrees 30 minutes East a distance of 44.11 feet; thence Northeasterly along a tangential curve concave to the Southeast having a central angle of 57 degrees 17 minutes 18 seconds and a radius of 75 feet a distance of 74.99 feet; thence North 77 degrees 47 minutes 18 seconds East tangent to the last curve to its intersection with said centerline of County Road No. 6 and there terminating, Hennepin County Minnesota. 2. Owners request 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 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 escrow is to guarantee 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 would be responsible for under a building permit 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 City 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 public property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review) associated with building permit #2014-00278, demolition permit #2014-00247 and land use#14-3649 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 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 timeframe 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. Page 1 of 2