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� , . i I �' � ( 1 � �� DEMOLITION PERMIT#20'13-00996 Variance &CUP#13-3604 ESCROW AGREEMENT AGREEM�NT made this,�day of , 20� by and between the CITY OF ORONO, a Minnesota municipal corporation ("City")and Neil 8�Barbara Goodwin ("Owners"). • Recitals ' 1. An application for a demolition permit has been flled far principal structure located at 2975 Casco Polnt Road(°Subject Property"}Isgally described on attached Exhibit"A", 2. In conjunction with the demolitian, erosion control measures are required as shown on attached Exhibit"B". NOW,THEREOFRE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESGROW FL1ND5. Contemporaneousty with the execution of this Escrow Agreemertt, the Owners shall deposit$2,540 with the City. AIE accrued interest, if any, shall be paid to the City to reimburse the City for its cost in adminfstering the escrow account, 2. PURPOSE OF ESCR�W. The purpose of the escrow is to guarantee reimbursement to the City for all out-of-pocket costs(including planning, engineering, or legal consultant review)the City has incurred to assure that the erosion control measures are installed and maintained so the property complies with the provisions of Orono City Code Chapter 79, The financial security may also be used by the City to eliminate any hezardous conditions associeted with the work and to rspair any damage to public property or infrestructure that is caused by the work. If compliance with the approved Land Disturbance Permit is not accomplished within the allowable time period, the City may bring the project into compEiance by use of the security. 3. RIGHT OF EWTRY. The Owners hereby grant the City, Its agents, employees, officers and contractors the right to enter the property to perform afl work and inspections deemed appropriete by the City in conjunction with the required erosion control measures,including but not limited to constructing or completing any and all of the agreed upon improvements should the Owners' contractor not complete those lmprovements by the date : specified herein. 3. MONTHLY SILLING. As the City receives consultant bllls for incurred costs, the City will in tum send a bill to the Owners, Owners shall be responsible for payment ta the Ciky within 30 days of the Owners' receipt of bill. 4. DISBUR3EMENT FROM ESCROW ACCOUNT. (n the event that the Owners do not make payment � to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order untll the Owners pay all expenses �, invoiced pursuant to #3. The City may drew from the escrow account without further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. Any remaining amount of the financial security deposited with the City for faithful performance of the plans and specificatians and any related remedial wo�C will be released after the completian and inspection of all such measures and the establishment of final stabilization for the Subject Property. 6. CERTIFY UNPAtD CHARGES. If the project is abandoned by Owners, or if the eligib{e expenses incurred by the City exceed the amount in escrow, the City shall have the right to certity the unpaid balance to the subject property pursuant to Minn. Stat. §§415.01 and 366.012. CITY: ITY OF ORONO OWI�ER� � � ,�-�� By: � % 0'JC `�..3�^ '��" �ts: I �.�2G�, �,�.�.=�r��f, � -===.�_� - - , - - ^�--_ _ - ^ : _ _ ��i�� : II'�r�g�uxi ta�`irta��'��tm�arr = __ CI Gapv�fo'_Stceet�'ile = _ ] . . =�=_ --: ;-- _, __- = — --' -= - .______�_—.�_ -_ ___ . , '--= _- - _ . _. _�. -:---_- ` _- =.- . ._—_ _.___.., 150784 r