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� <br /> t � <br /> ZONING PERMIT & LAND USE APPLICATION ESCROW AGREEMENT <br /> Permit#s 2011- v,5�{� , 2011-00205, 11-3518 <br /> AGREEMENT made this �Z''} day of i7�=����..�R- , 20 �i , by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and William and Laura Koch ("Owners"). <br /> Recitals <br /> 1. Applications for zoning permits and a land use application for hardcover variances and a CUP <br /> have been filed for a for a property located at 3251 Casco Circle, the ("Subject Property"), legally described as Lot <br /> 11, also that part of vacated Lake Shore Avenue, and of the tract of land lying between said vacated Avenue and <br /> the shore of Lake Minnetonka, which lies between the Easterly extension of the Northeriy and Southerly lines of <br /> said Lot 11, Spring Park Hennepin County Minnesota. <br /> 2. Owners request the City to review the applications. <br /> 3. The City wiil commence its review of the applications and incur costs associated with said review <br /> only if the Owners establish 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 $2,000 with the City. All accrued interest, if any, shall be paid to the City to <br /> 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 pianning, 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# 2011-��54� , 2011-00205 & 11-3518 if compliance with the approved zoning <br /> permits is not 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.�p certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. ,1 <br /> � <br /> CITY: Y OF ORONO OW R: <br /> By: � <br /> ._-- `�\ �, \ °1 <br /> Its: �'i rV CtiA.1 � „�� i ��c�c�� j�;��J�,,,,.-� � �,;7"� <br /> . _.A„ ; ,..... , : <br /> �nternal_Us�Q[�I,ya _ A�°�� GI_�.�'i9ipa���Q.�'1a!?L1in9.QePar�e�1=`'��' '?4.:�'c4PY��.4.��.r.��� <br />