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. � <br /> ZONING PERMIT ESC QW A E�M� <br /> Permit# ��' <br /> AGREEMENT made this ��� day of ��n-+� , 20�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corpora6on("City'}and �vc,� f��V��y ("Owners"). <br /> Recifi.als <br /> 1. A building permit application has been filed for a z ng perrnit for a property located at <br /> I Z�s ia�sr�c-�'Ts �a�..r the ("5ubject Property"), legally described as �CA(�(L(�?AJ(o��,UT D� D�Z�il��d�d�'°�r <br /> Hennepin County Minnesota. j�T/Q <br /> 2. Ovmer requests the City to review this application. <br /> 3. The City will commence its review of the application and incur costs associated witt� said review <br /> only if the Owner establishes an escrow to ensure reimbursement t�the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCRO�S. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit '� 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 consultant review}or will <br /> incur in reviewing the plan. Eligible expenses shall be cansistent with expenses the Owners would be responsible <br /> for under a zoning permit application. The escrow w111 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 acxordance 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 elimfnate any hazardous conditions associated with the woric and to repair any damage to <br /> public property or infrastructure that' used b�the wo�lc (inGuding planning, engineering, or iegal cansultarrt <br /> review) associated with permit #��-Dn l���f 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 30 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 untit the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without further approvaf of the Owners to <br /> relmburse the City for eliglble expenses the Ci1y has incurred. <br /> 5. CLOSING ESCROW. The Balance on depasit in the escrow, i# any, shall be retumed 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 OF ORO OWN <br /> By: <br /> Its: 1—.N e.........�..�'��e_c�Ce� <br /> lrrtgrnal"lha Onfy: G OM�Ma1�Flnanct DepartmanC t��opy�e Stre4tF�e <br />