2013-00203 - escrow fee - Laserfiche WebLink

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ZONING PERMIT ESGROW AGREEMENT PermiE#2013-001fi6 and BUILDING PERMIT# AGREEMENT made this � day of �?�'�,ahc-�1.� , 20�, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and Howard R. Alton 111 ("Owners"). Recitals 1. A zaning permit appiication has been filed for a property located at 1480 Bohns Point Road the ("Subject Property"), legally described as that part of the South 800.00 feet of Government Lot 1, Section 9,Township 117 North, Range 23, East of the 5`�' Principal Meridian, described as follows: Beginning at the Northwest corner of said South 800.00 feet; thence East along said North line of said South 600.00 feet, 430.26 feet; thence deflecting right 12 degrees 06 minutes, 70 feet, more or less,to the shore of Lake Minnetonka; thence southwesterly along said sh�re line 140 feet, more or less, to the Narth line of the South 650.OD feet of said Government Lot 1; thence West along said North line to the West line thereof; thence North along said West line to the point of beginning. 2. Owner requests the City to review this application. 3. The City wifl commence its review of the application and incur costs associated with said review only if the �wner estabiishes an escrow to ensure reimbursement ta the City of its costs, NOW THEREFQRE,THE PARTtES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously 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 E3CROW. The purpose of the escrow is to guarantee reimbursement to the City for atl out-of-pocket costs the City has incurred (including planning, engineering or legal consultant review} or will incur in rsviewing the plan, Eligible expenses shall be consistent with expenses the Owners would be responsible for under a zoning permit application. The escrow will also guarantee reimbursement to the City for all out-of- pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Ptan and the provisions of Orono City Code Chapter 79. The financial security may alsa be used by the City to elimi�ate any hazardous conditions associated with the work and to repair any damage to public praperty or infrastructure that is caused by the work (including planning, engineering, or legal consultant review) associated with zoning permit #2093-04166 and building permlt # if compliance with the approved zoning permit is not accomplished. 3. MONTHLY BILLiNG. As tha City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be responsibls far payment to the City within 30 days of the Owners' receipt of bill. 4. D[SBURSEMENT FROM ESCROW ACCOUNT. In 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 until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account wi#ho�.rt further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 6. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandaned by Owners, or if the eligible expenses incurred by the City exceed the amount in escrflw, 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 OWNER: gy: �'�'U�� --- _ �ts: �'�' .�� L-�� u�