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� � ZONING PERMIT ESCROW AGREEMENT <br /> Permit# o�U/d - D//�� <br /> AGREEMENT made this �30 day of �Lrv�e� , 20/ 2, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and Sco r' o �-1 �re.� fi'�+��� ("Owners"). <br /> Recitals <br /> 1. A building permit appiication has been filed for a zoning permit for a property J,ocated at <br /> .3 o Z�- C.,�,.,, +�e�-�the ("Subject Property"), legally described as c.1�'� � EkL,,� i7 /y <br /> Hennepin County Minnesota. <br /> 2. Owner requests the City to review this application. <br /> 3. The City will commence its review of the application and incurcosts associated with said review <br /> only if the Owner establishes an escrow to ensure reimbursement to the Cit,y of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contempocaneously with` the execution of this Escrow <br /> Agreement, the Owners shall deposit $02 Oov with the City. AIL accrued interest, if any, shall be paid to the <br /> City to reimburse the City for its cost in a mi�ng the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City �- <br /> for all out-of-pocket costs the City has incurred (including planning; engineering or legal'consultant review) or will <br /> incur in reviewing the plan. Eligible expenses shall be consistent with expenses:the Owners would be responsible <br /> for under a zoning permit application. The eserow will also guarantee reimbursement to the City for all out-of- <br /> pocket costs the City has incurred to assure that :the work is ,completed in accordance with the Stormwater <br /> Pollution Prevention Plan and the provisions of'Orono City Code>Chapter 79. The financial security may also be <br /> used by the City to eliminate any hazardous condition$ associafed with the work and to repair any damage to <br /> pubiic property or infrastructure that-is caused by the work (including planning, engineering, or legal consultant <br /> review) associated with permit #�ola-��/(P�'" if compiiance with the approved zoning permit is not <br /> 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 outiined in #3 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pu�suant to #3. The Cify 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'GROW, 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 to certify the unpaid balance to the <br /> subj`ect�y pursuant to Minn. Stat. §§ 415.01 and 366.012. <br /> CITY: CIF�'OF OR_�Q1�10 OWNER: <br /> r� �By: � - � ��L�"�� <br /> , <br /> its: � '(� ` - <br /> l%�rr��'I���n� ..., _.. '`���,�i�a��"`�i���,ta�:���?��_.,..,� _.�..������,�.��� <br /> Updated: December 30,2011 <br />