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DEMOLITION PERMIT,BUILDING PERMIT& WETLAND BUFFER ESTABUSHMENT ESCROW AGREEMENT Demolition Permit 1201340101 1110 ��,, Building � � Permit00 1 2013-0010 AGREEMENT made this -L / day of _ 1l z,0rl by ands etween the CITY OF ORONO, a Minnesota municipal corporation (`City")and L( t(2 Owners"). Recitals .t^ �,�,�w- - 1. A building permit application has been filed for ail(, lIo � i+ oYYew 'w'mV located at 665 Orchard Park Road, the ('Subject Property), legally desc ri as The North 20.0 rods of the South 30.0 rods of the Southeast Quarter of the Northeast Quarter of the Northeast Quarter of Section 31, Township 118 North, Range 23 West of the 5th Principal Meridian, Hennepin County, Minnesota. 2. Owners request the City to review this application. 3. The City will commence its review of the application and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of Its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to reimburse the City for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee the establishment and development of the required native wetland buffer and reimbursement to the City for ail out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a building permit application.The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions associated with the wok and to repair any damage to public property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review) associated with Demolition Permit 02013-00101 & Building Permit 1 2013-00100 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILUNG. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be responsible for payment to the City wain 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City within the timeframe outlined in#3 above. shall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to reimburse the City for eligible expenses the City has incurred_ 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completed, the buffer is established and written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses incurred by the City exceed the amount in escrow,the City shall have the right to certify the unpaid balance to the subj pursuant to Minn. Stat. §§415.01 and 366.012. CITY'. C •, 1! ' •' 0 OWNER: ,- . c) By: _ ��!� ��IL ki LLL.1f�Lci I L 1 Its: ifr� � B .i.„.•;"744.- , 'c 4 lnanwi Use Only: 0 Original to Planning 0 Copy to Property Owner 0 Copy to Street FIN