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ZOtJING PERMlT ESGROW �GR�E�MENT <br /> Permit#.o2C�J Z -D fp�c.E, �. �2'���' <br /> AGREEMENT made this �th <br /> - day of_ ��U��,-r�,, ?p�L by and �atween tnc CITY OF {�RONO <br /> a Minn?sc�ta n�uni;,ipai corporation C'Crty )and <br /> ('Gwners�i <br /> Recitals <br /> 1 A i�uildmq permit applicauon has been filed for a zonmg permit for a property Iocatecl at <br /> �`�'��_ C�� � the i"Sub�ect Prpperty'"j. legally described as <br /> Hennepin;,ounry Minnesota <br /> 2 Owner requests th�City ta rev�ew this application <br /> :� The C�ly„yi��commence its review of the applicatinr. ana inCur costs assacrated with said review <br /> only If the�wner estabiishes an escrow to ensure reimbursement ko the Grty of rts costs. <br /> NOW THEREFORE.THE PARTIES aGREE AS Fp�LOWS: <br /> 1. DEPQSIT OF ESCROW FUNDS. Contemporaneously with the execuuon of this Escrow <br /> Agreement. the Owners shall deposit S (�JDD with the Gty All accrued interest rf any, snali be pa�d ro the <br /> City ro re�mtrurse the City for its cast ir administenng the escrow account <br /> 2• PURPOSE OF ESCROW. The purpose of the escrow is to yuarantee reimbursement to the Cdy <br /> for ali ou(-of-poc.ket costs the Cit��has incurred iincluding plann�ng. engirieering or legal consultant revrew)or wili <br /> mcur in reviewing the plan Eiigible expenses shali b�consistent with expenses the Owners wpuld be responsible <br /> for under a zonmg permd application The escrow wilt �iso guarantee reimbursement to the City for ali out-of- <br /> pocket costs the City has mcurred ta assure that the work is Compiefecl m accordance with the Stormwater <br /> Pollution Frevenfian Plan ancl the provisions of Orono Crty Code Chapter 79 The financ�al securrty may also be <br /> used by the Crty to eiiminate any hazardous conditions assoc�ated wrth the wo�k and to repair any damage to <br /> publ�c property or infrasiructure that is caused by the work {inciuding planning. engmeenng or iegal consultant <br /> rev�ewt assoc�ated w�th permit #____� __ if corp liance with the a <br /> accompiished �' PP�Qved zonmg permit is not <br /> 3• MQNTHLY BILLING. As the Crty receives consuitant btlis for mcurred costs, the Crty w�i� in wrn <br /> s2nd a t�ill tc the Uwners Owners shaU he respons�ble for payment to the Crty within 3G days of the Owners <br /> receipt of bill <br /> 4. DfSBURSEMENT FROM ESCROW QCCOUNT In the r,�veni ihai the t�wners da not make payment <br /> tc the CitV within thcr!unelramc: ouqined in #3 aaove shali assue a Stop Work Orde; untd the C>wners pay aIi expenses <br /> mvoiced pursuanl ±e #:, The �ity may draw from the escrow accoun( withtau! furthe� approva! ol the OwnerS to <br /> rermbursc ihe Giry for eiigiblc:•�xpenses the Cfty has incurred <br /> 5. CLQSING ESCROW. The Balanc� on deposit �n the escrow if any, shali pe returned tc the <br /> Owners when th� review hes been compietetl and wrjtten notrfication is recewed from tiie Owners requesting the <br /> funas <br /> 6. CERTIFY UNPAID CHARGES. If ihe pro�ecT is abandoned hy Owners or if the elinibie expenses <br /> incurr�d by the City exceeci the amouni in escrow. the Clty snall have the rignt to certify the unpaid balancL to thF <br /> sub��t"propert`�pursuant to Mmn Stot �&q1;01 and 366 U1� <br /> CITY: C/�'YAFQRb� OWNE �� ,� <br /> By /..// '~/'y" i �, �_ <br /> _ �L, <br /> ��$� � I • �. . `� <br /> —r-- � � — <br /> �'-�----- - -- <br /> -___ --- . ---_..__ <br /> � -- <br /> — ___.._-- __ __--; <br /> Mtemal Use Only O Original to Planning Departm�ent �Copy to Sireet Flle � <br /> ------—__ __ _-- ,_._. __ ---________' <br /> _.._—_ -- _...---.._ <br /> ��;��7ated r i��_�= ZOti --�__— _ � <br />