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. � ` R <br /> ZONING PERMIT ESCRO I A RE I�E NT <br /> Orono Zoning Permit# ( � (/�f <br /> AGREEMENT made this �� day of tM� , 20 n, by and beiween the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City")and ("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for a zoning permit for a property located at <br /> (�of �i'l:n„�fi„IGµN��la,dLrL.�.the ("Subject Property"), fegally described as i.t��t"s 1�2 ,�l 3 Rlti�k�► A?�nn�a,,+4�a$�,,.,,,,.;� �wk <br /> Hennepin County M ni nesota. <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 FUND Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $ �.�ith 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 Ciry 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 (inGuding planning, engineering, or legal consultant <br /> review) associated with zoning permit#20�0���?�( 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 tum <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 <br /> payment to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay <br /> all expenses invoiced pursuant to#3. The City may draw from the escrow account without further approval of the <br /> Owners to reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall 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 /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: (CITY/O �.�NO OWNER: <br /> / .~," <br /> By: -- � <br /> �ts:—1-�'�.��.=gi�� <br /> h�bernal Use Only: G Original to Finance'DeparfineM - O iCopy to 5treetfile �Create Permit lst) <br /> Reset Form <br />