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BUILDING PERMIT ESCROW AGREEMENT-APPLICATION#2012-00127 <br /> DEMOLITION PERMIT ESCROW AGREEMENT-APPLICATION#2012-00126 <br /> LAND USE APPLICATION ESCROW AGREEMENT—APPLICATION #12-3541 <br /> AGREEMENT made this �) day of �C/�J , 20 �� by and between the <br /> CITY OF ORONO, a Minnesota municipal corporation ("City") and Robb&Tina Richter("Owner"). <br /> Recitals <br /> 1. Owners have filed Zoning Application #12-3541, demolition permit #2012-00126 and building <br /> permit #2012-00127 formally requesting the City to review plans for variances, demolition and new construction <br /> located at 3508 Ivy Place the "Subject Property") legally described as, Lot 183 and the southeasterly half of Lot <br /> 182 Taylors Subdivision of Spring Park Lots, Hennepin County, Minnesota. <br /> 2. Owners request the City to review said plans which requires City approval including engineering <br /> and legal reviews. <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review 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. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owner shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to <br /> 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 meeting with the Owner, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application #12-3541, demolition permit #2012-00126 and building permit #2012-00127. Eligible <br /> expenses shall be consistent with expenses the Owner would be responsible for under a zoning and subdivision <br /> application. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owner. Owner shall be responsible for payment to the City within 30 days of the Owner's receipt <br /> of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not make <br /> payment to the City within the timeframe outlined in#3 above, the City may draw from the escrow account without <br /> further approval of the Owner to reimburse the City for eligible expenses the City has incurred. The City shall <br /> notify the Owner of such draw and the nature of the expense for which the reimbursement is being made. If the <br /> Escrow amount falls below 75% of the original escrow amount the Owner shall deposit additional sums as <br /> directed by the City, or the City shall discontinue all review. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owner when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, 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 /> � ..._.._..._....., <br /> .. �. _ _ <br /> CITY OF O OWNEl7;_�.�........ ._..;,,,.>-r::._,._� <br />. By: By: <br /> Its: � Prir�ed Name:.-- ." 12v3�r 1� �c�.�— <br /> �.._..._ <br />