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ZONING PERMIT ESCROW AGREEMENT <br /> Permit#_ 20( 3- blbq(p <br /> AGREEMENT made this�day of D c>r , 20�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and�c�c r�.,ti-c .r- v,q-raM tc 1�c,��,( ("Ownersn). <br /> Recitals <br /> 1. A building permit application has been filed for a zoning permit for a property located at <br /> 3�5� �-ScQ or2 the ("Subject Property"), legally described as <br /> Hennepin County Minnesota. ' <br /> 2. Owner requests the City to review this application. <br /> 3. The City wilf commence its review of the application and incur costs associated with said review <br /> only if the Owner estab(ishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW F NDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $2,� with the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse the City for its cost in admiTnistering 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 causad by the work (including planning, engineering, or legal consultant <br /> review) associated wifh permit # �(3 —Ol0 Q(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, fhe 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 eligibfe expenses the Clty has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed 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 CHqRGES. If the project is abandoned by Owners, or if the eligible expenses 'I <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• ITY F ORONO O NER: <br /> By: 1� V� W«.�.�� K-�,.� <br /> �ts: � � <br /> � <br /> Internal:l�se Odljr , _ .:-�7�nginal fo Pl`aitning_Depai#ment� _ , ..��opyfo Street Ell� <br /> Updeted: November 30,2012 <br />