2015-00866 - escrow fee - Laserfiche WebLink

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♦ ZONiNG PERMIT ESCROW AGREEMENT � Permit#2015-00547 AGREEMENT made this�day of , 20�, by and betwesn the ClTY OF OROIVO, a Minnesota municipal corporaEion ("City")and A sa sr& Eric Biermann ("Owners"). Recitais 1. A zoning permit application has been filed for a property �ocated at 2915 Casco Point Road the ("Subject Property"), legally described as Lot 97, Spring Park that part of vacated Lake Shore Avenue and that part of fhe tract of land lying between said Avenue and the shore of Lake Minnetonka, a!I lying between Southwesterly extensions of the Norlhwesferly and Southeasterly lines of 97, Sprrng Park, Hennepin County, Minnesofa. 2. Owner requests the City to review this application. 3. The C+ty wifl commence its review of the application and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the Ciry of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSlT OF ESCROW FUNDS. ContempQraneously with the execution of this Escrow Agreement, the Owners 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 Ci#y has incurred (including planning, engineering or legal cflnsultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a zoning permit application. The escrow wii( aiso guarantee reimbursement to the City for all out-of- pocket costs the City has incurred ta 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 ko public property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review)associated with permit#2015-00547 i#compliance with the approved zoning permit 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 Owners. Owners shafl be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DiSBURSEMENT FROM ESCROW ACCOUNT. In the event that the Ovmers do not make payment to fhe City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without fufther approval of the Owners 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 Owners when ail requirements related to the project are complete. City Staff shall review the terms of this escrow agreement two times per year to determine whe#her the requirements of the project have been successfully completed and whether it is appropriate to retum the funds. Owner may also request the release of the funds, and such funds shall be released upon City Staff receiving the appropriate verification that all requirements of the project have been successfully completed. 6. CERTIFY UNPAID CHARGES. lf the project is abandoned by Owners, 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 subject property pursuant to Minn. Stat§§415.01 and 366.012. CITY: CITY OF ORONO OWN : BY: -,o.Y t N�I�"`-' _._��..�,_....�._�.... Its: � �� in�emal llae Ursty: Ci�t io t'EtFrsrr3t�g t)ep�ttlms�t�f CopY ta S�rt Ftl� i -.._I