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ZONING PERMIT ESCROW AGREEMENT <br /> � _� Orono Zoning Permit# �(�j-- (a(��� � <br /> AGREEMENT made this 2"1N, day of �. , 2013 , by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City")and W o,o�¢,�,�, (��_� L.,L�C, , ("Owners"). <br /> I� a�� Recitals <br /> 1. A b� permit application has been filed for a zoning pe� mit or a pr perty locat d at <br /> 316$' 1Jo���ou�;a{,the ("Subject Property"), legally described es �w (:.�� �,t�c,�w� �4. �p�j�, s <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. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $ S000.�,yith 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 (including planning, engineering, or legal consultant <br /> review) associated with zoning permit #�3-0��`'f 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 <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 OF ORONO OWNER: �d-Sy'�-� Q"�� � LLG. <br /> By: 6 . J <br /> � <br /> �ts: Q�l �r [ G'�✓G�,C��c��2, °�. ��' <br /> � <br /> ntecaL.�lse O�n'�'�" :-+ j � """� <br /> �.—...--.-_�z__...Y� _ y� ,,.e;D O�Iglnal;to,;�i an nce:�a�men�, q.=Co���:t e�i "et�Flle � <br />