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ZONING PERMIT ESCROW AGREEMENT <br /> Permit# <br /> AGREEMENT made this day of 20_, by and between 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 /> the ("Subject Property"), legally described as <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 $ with 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 (includingplanning, 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 Ahat 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 cohoitions 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 permit'# J compliance with the approved zoning permit is not <br /> accomplished. <br /> 3. MONTHLY(SILLING. 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 l'or payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4 :ItSBURSEMENT FROM-ESCROW ACCOUNT. In the event that the Owners do not make payment <br /> to the City within the timeframe outlined,in#3 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City-may draw from the escrow account without further approval of the Owners to <br /> reimburse the,City for el igible,,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. CERTIFYuNPAID 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: <br /> By: <br /> Its: <br /> n ettx> PON- <br /> 400x r►1y r, rL1._Or1 t9- 'lanai RAy Skreetile <br />