HomeMy WebLinkAboutRe: new escrow ZONING PERMIT ESCROW,AGREEM N
Orono Zoning Permit# ��j—' ?j��2
, AGREEMENT made this day of , 20_, by and between the CITY OF ORONO,
a Minnesota municipal corporation ("City") and ("Owners").
Recitals
1. A building permit application has been filed for a zoning permit for a property located at
the ("Subject Propert�'), legally described as
Hennepin County Minnesota.
2. Owner requests the City to review this appiication.
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 $ 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 reimbursement to the City
for all out-of-pocket costs the City has incurred (including planning, engineering 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 zoning 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 work and to repair any damage to
public property or infrastructure that is cay� d by he work (including planning, engineering, or legal consultant
review) associated with zoning permit # l�' sj 7i?/ if compliance with the approved zoning permit is not
accomplished.
3. MONTHLY BILLING. 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 within 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 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
subject property pursuant to Minn. Stat. §§415.01 and 366.012.
CITY: CITY OF ORONO OWNER:
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