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ZONING PERMIT ESCROW AGREEMENT <br /> Permit @_ 2-014- 01111 <br /> fl <br /> AGREEMENT made this 9tlday of D(A'D 201+,by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation("City")and A-N '. I -l. l t L.LO X ("Owners")_ <br /> Recitals <br /> 455 1. A building permit application has been filed for a zoning permit for a property located at <br /> w DL VEt-Toc'.) 4. rf the ("Subject Property"), legally described as SGE t f k i'D130 AtrkENPUJ\l <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 oda with the City. Ail 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 by the work (including planning, engineering,or legal consultant <br /> review) associated with permit #_ -0 _ 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 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 0 ONO OWN,E/' <br /> By: ayeist <br /> • <br /> /� �jk-0. O'Oa 014-- <br /> its: IJV �f��LG�I✓C �; l <br /> Internal Use Only: Original to Planting Department - toy to Street File <br /> Updated: November 30,2012 <br />