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ZONING PERMIT ESCR,�W A E�M2NT <br /> Permit# LD { � .f,� <br /> AGREEMENT made this ��� day of /�,��� , 20�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation("City'}and �r��✓Z ti�+r��V��y ('Owners"). <br /> Re i 1 <br /> 1. A building permit application has been filed for a z�ng permit for a property located at �G��� <br /> I Z�s i�ce�13 /�a�,r the ("Subject Property"), legally described as CA2(Z�AJ��rn c�.r ��'— D�%l�{ <br /> Hennepin County Minnesota. (�;-T/Q <br /> 2. Owner requests the City to review this application. <br /> 3. The City will 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 ESCROJ� FUNDS. Contemporaneausly with the execution of this Escrow <br /> Agreement, the Owners shall deposit$'`� D' with the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse the City for its cost in administering 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 consuitant 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 escrow 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 fn accordance with the Stormwater <br /> Aollution 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 conditions associated with the work and to repair any damage to <br /> public property or infrastructure that,1��s� used b�the work (Including planning, engineering, or legal consultant <br /> review) associated with permit #K��-On lR�if compliance 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 3Q days of the Owners' <br /> receipt of bill, <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do nol make payment <br /> to the City within the timeframe outlined in#3 above, shall Issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to <br /> relmburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be re#umed 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 /> subject property pursuant to Minn. Stat.§§415.01 and 366.012. <br /> CITY: ITY O�ORO OWN <br /> By: <br /> � ` <br /> ItS: �'�N�w�..�_ �1� C,c�cO� <br /> lr�rnal Usa�nly: G OrigMat to Fln�nce Deparbt►ant O Copy m Slrs�et FHe <br />