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BUILDING PERMIT ESCROW AGREEMENT Orono Buitding Permit#2013-00294 AGREEMENT made this �� day of�a 20�, by and between the ClTY OF C�f20N0. a Minnesota municipal corporation ("City") Matt&Michell Mesenburg {"Owners"}. Recitais 1. A buiiding permit application has been filed for a new principai structure and detached structure located at 3210 Graham Hill Road the ("Subject Property`), legaily described as Lot 1, Biock 2, Graham Hill Preserve, Hennepin County Minnesota. 2. Owners request the City to review this application. 3. The City will commence its review of the application and incur costs associated with said review only if the Owner estabiishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Rgreement, the Owners shall deposit 52.500 with the City. All accrued interest, if any, shail be paid to the City to reimburse the City for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The p�rpose of the escrow is to guarantee reimbursement to the City for ali out-of-pocket costs the City has incurred (including planning, engineering, in excess of S500, or legal consultant review) or will incur in reviewing the pian. Eligibie expenses shaii be consistent with expenses the Owners would be responsible for under a buiiding permit appiication. 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 compieted in accordance with the Stormwater Poilution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused by the work (inciuding planning, enginsering, or legal consultant review) associated with building permit #2013-00294 if compliance with the approved buiiding permit is not accomplished. 3. MONTNI.Y BILLING. As the City receives consuitant biiis for incurred costs, the City will in tum send a bili to the Owners. Owners shali be responsibie for payment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the �wners do not make payment to the City within the timeframe outlined in#3 above, shali issue a Stop Worfc Order until the Owners pay ali expenses invoiced pursuant to #3. The Cify may draw from the escrow account without further approval of ths Owners to reimburse the City for eligible expenses the City has incurred. 5. 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 abandoned by Owners< or if the eligible expenses incurred by the City exceed the amount in escrow, the City shali 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 OWN BY�1;U��4��t�C��---� ,,� �ts: �� — r''1 a��i.,e.,,� �. �,�Q..�, � Internal Use Only: 0 Original Ln P{anning G Copy to Property Owner G Copy to Str+Eet FHe