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Y�, �o K��GwN c� <br /> � �.�p� (�oaa�1 <br /> BUFFER IMPROVEMENT <br /> ESCROW AGREEMENT <br /> AGREEMENT made this � day of �� , 2008, by and between the <br /> CITY OF ORONO, a Minnesota municipal corporation ("Cit ') and Strong Arm Construction <br /> Services, LLC, a Minnesota limited liability corporation, ("Owner"). <br /> Recitals <br /> A. Owner wishes to construct a new house at 460 East Long Lake Road in Orono <br /> �(PIN 35-118-23-14-0003). <br /> B. Improving the buffer for a wetland on the property is a condition of this permit. <br /> C. The City is requiring a security agreement to guarantee the required improvement <br /> of the buffer is successful. <br /> D. The City has determined that this Escrow Agreement constitutes adequate <br /> assurances from Owner, sufficient to protect the City from noncompliance with the <br /> City Code. <br /> NOW, THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the issuance of <br /> this agreement, the Owner sha11 deposit $2,000 with the City. All accrued interest, if any, <br /> shall be paid to the City to reimburse the City for its cost in administering the escrow <br /> account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee that the <br /> improvement of the buffer required as part of permit number P 12137 is completed <br /> properly and that any vegetation that does not establish successfully is replaced. A <br /> planting is deemed successful if there is at least one native plant from the seed mix per <br /> square foot in the seeded area. <br /> 3. REQUIRED IMPROVEMENTS. The required improvements are those on the <br /> plan attached as Exhibit A. <br /> Page 1 of 2 <br />