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i <br /> ZONING PERMIT ESCROW AGRE_�I�ENT <br /> Permit#d�/ `�-� Z�"j <br /> AGREEMENT made this �� day of ' ^+ , 20 4`� , by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and �- �", i ("Owners"). <br /> Recitals <br /> 1. � building permit application has been filed for a zoning permit for a property located at <br /> I�r� �_��1�,,�;� �.. E�!�;TC� the ("Subject Property"), legaily described as <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 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 ESCROW FUNDS. Contemporaneousiy with the execution of this Escrow <br /> Agreement, the Owners shall deposit $`�`���G,� 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 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 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 conditions associated with the work and to repair any damage to <br /> public property or infrastructure that is caused by the work (inciuding planning, engineering, or legal consultant <br /> review) associated with permit #a0/y-G�OoZ.� 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 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 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 /> reimburse the City for eligibie expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shali 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 /> subje�Ypro`per�y pursuant to Minn. Stat. §§415.01 and 366.012. <br /> ,� <br /> CITI': C1�(��r� RONO OWNER: <br /> „ � -- � � _. <br /> _-:--- --�. � � (� � �7 <br /> B � ,�a... , _ _ J� �����' �7,'""""`-� � � / I� <br /> Y� - <br /> , ; , <br /> Its: � !�( -'!v j�7%''�'h� <br /> Internal Use Only: 0 Original to Planning Department �Copy to Street File <br />