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LAND USE APPLICATION AND BUILDING PERMIT ESCROW AGREEMENT Orono Land Use Application#13-3598 AGREEMENT made this a day of Y'!-L. , 20j:�, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and Bill & Cynthia Bowman (the"Applicants"). Recitals 1. An application has been filed for a lot line rearrangement between the properties described as Outlot A, Willow Hill; Lot 2, Block 1, Willow Hill; and the property addressed 450 Willow Drive South and legally described as The East 202.86 feet of the West 279.32 feet of the South 115.50 feet of the North Quarter of the Northwest Quarter of the Southwest Quarter of Section 3, Township 117, Range 23, West of the 5th Principal Meridian, Hennepin County, Minnesota. 2. Applicants request the City to review the application. 3. The City will commence its review of the application and incur costs associated with said review only if the Owners establish 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 Applicants 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 Applicants 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 Land Use Application #13-3598 if compliance with the application 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 Applicants. Applicants shall be responsible for payment to the City within 30 days of the Applicants' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Applicants do not make payment to the City within the timeframe outlined in #3 above, shall issue a Stop Work Order until the Applicants pay all expenses invoiced pursuant to#3. The City may draw from the escrow account without further approval of the Applicants 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 Applicants when the review has been completed and written notification is received from the Applicants requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Applicants, 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 homestead property of Applicants at 450 Willow Drive South (PID No. 03-117-23-32- 0012) pursuant to Minn. Stat. Sections 415.01 and 366.01. CITY: ITY OF ORON OW By: d Its: