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ZONING PERMIT ESCROW AGREEMENT <br /> Permit# o��/d - D///P� <br /> AGREEMENT made this �30 day of �crv�e� , 20/ Z, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and J�c o r'� o �.,L �r�.� fra��� ("Owners"). <br /> Recitais <br /> 1. A buiiding permit application has been filed for a zoning permit for a property �ocated at <br /> .�o Z r C„�,.. �o��-r the ("Subject Property"), legally described as �1'e c FkL,, ,� i� /y <br /> Hennepin County Minnesota. <br /> 2. Owner requests the City to review this application. <br /> 3. The City wiil 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 shail deposit $02 Od d with the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse the City for its cost in a mid�ing the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City - <br /> for ali 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 eserow will also guarantee reimbursement to the City for all out-of- <br /> pocket costs the City has incurred to assure 'thaY the work' is completed in accordance with the Stormwater <br /> Pollution Prevention Plan and the provisions of (Jrono 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 #�0la-�!/(�� if compiiance with the approved zoning permit is not <br /> accomplished. <br /> 3. MONTHLY BILLING. As'the City receives consuitant 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, shali issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City rnay 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 E5'CROW. 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 U'NPAID 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�rty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CIF� OF OR_�ONO OWNER: " <br /> �\i� �� /� � <br /> By. '.----�, S L�C?"� <br /> its: � �(�r;1 �,� - <br /> �., ,. e „M �. � <br /> � <br /> , w <br /> . <br /> , <br /> _..� �_�;�. ... :. .... �u w. t ���� _ .� _....� ., ___, .� a _, „�. e <br /> Updated: December 30,2011 <br />