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ZONING PERMIT ESCROW AGR EMENT C a t i00° <br /> Permit MAO/y-0s.3 y <br /> AGREEMENT made this �rt a day of c� N Q ,20 ,by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation('City")and ti jK. (•Owners•) <br /> Recitals <br /> E-a 1. A building permit application has been filed for a zoning permit for a prop rty Ioc�ate at <br /> nn <br /> a j Subject Property"), legally described as��Rca 2� ( LIP i V`f� .1 <br /> H epin ut�(" <br /> nty 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 shell 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 i _caused the work (including planning, engineering, or legal consultant <br /> review) associated with permit # cO/y— $yif compliance with the approved zoning permit is not <br /> accomplished. <br /> 3. MONTHLY BiLLING. As the City receives cdnsultant 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 timeframe outlined in#3 above,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 /> subject property pursuant to Minn.Stat.§§415.01 and 366.012. <br /> CITY: CITY OF ORONO OWN E-: <br /> By: 1ttiV 1 dair�.. .. '.� ._!IS:Rahn\►/ir nVl PAkil4 <br /> , <br /> rfi 1)i11.!M:3;tiiali tetLJ?t tri ftii iar(l7t�i��Gt��'siirit3rit st].to l]'7iil'Q?�YLiI�IC <br /> Updated: November 30.2012 <br />