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BUFFERIMPROVEMENT ESCROW AGREEMENT AGREEMENT made this day of , 2010, by and befinreen the CITY OF ORONO, a Minnesota municipal corporation ("City") and , ("Owner"). Recitals A. The owner is has submitted plans to construct a new residence on the vacant lot at 915 Partenwood Road, Orono, legally described as Lot 2, Block 3, Partenwood. B. The construction activity will trigger the City's wetland buffer requirements for the Manage 3 wetland on the property. C. Frozen soil conditions required a wetland boundary estimate rather than a formal delineation. A formal delineation will be required by the City prior to issuance of the certificate of occupancy. D. Per Section 78-1611 of the wetland ordinance the owner shall record Restriction and Covenants over the wetland and buffer with the property chain of title prior to the issuance of the certificate of occupancy. A legal description for the upslope edge of the buffer will need to be submitted with the Restrictions and Covenants. E. Owner has agreed to provide financial security guaranteeing compliance with the wetland ordinance by entering into this Escrow Agreement. F. The City has determined that this Escrow Agreement constitutes adequate assurances from owner, sufficient to protect the City from potential damages and noncompliance with the City Code. NOW,THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the issuance of permit 2010-00044, the owner shall deposit $4,000.00 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 that the improvement of the buffer required as part of permit number 2010-00044 is completed properly and that any vegetation that does not establish successfully is replaced. A planting is deemed successful if there is at least one native plant from the seed mix per square foot in the seeded area. Areas where the planting is not successful shall be reseeded by the end of the growing season. The funds shall be spent by the City if the owner for any reason is unable or unwilling to honor the requirements of the City Code. Construction costs may also include engineering estimates and plans as well as labor and materials for any repairs or matters completed. 3. REQUIRED IMPROVEMENTS. The required improvements and submittals are those outlined within the memorandum from John Smyth dated December 8, 2009. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not comply with requirements of permit 2010-00044 and/or make payment to the City within the timeframe outlined in #3 above, the City may draw from the escrow account without further approval of the Owner to reimburse the City for Eligible expenses the City has incurred. The City shall notify the Owner the Owner of such draw and the nature of the expense for which the reimbursement is being made. If the Escrow amount falls below 75% of the original escrow amount the Owner shall deposit additional sums as directed by the City, or the City shall discontinue review and post a Stop Work Order.