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BUFFER IMPROVEMENT
ESCROW AGREEMENT
AGREEMENT made this � day of �� , 2008, by and between the
CITY OF ORONO, a Minnesota municipal corporation ("Cit ') and Strong Arm Construction
Services, LLC, a Minnesota limited liability corporation, ("Owner").
Recitals
A. Owner wishes to construct a new house at 460 East Long Lake Road in Orono
�(PIN 35-118-23-14-0003).
B. Improving the buffer for a wetland on the property is a condition of this permit.
C. The City is requiring a security agreement to guarantee the required improvement
of the buffer is successful.
D. The City has determined that this Escrow Agreement constitutes adequate
assurances from Owner, sufficient to protect the City from noncompliance with the
City Code.
NOW, THEREFORE,THE PARTIES AGREE AS FOLLOWS:
1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the issuance of
this agreement, the Owner sha11 deposit $2,000 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 P 12137 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.
3. REQUIRED IMPROVEMENTS. The required improvements are those on the
plan attached as Exhibit A.
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4. DISBURSEMENT FROM ESCROW ACCOUNT. If the City suspects or knows
of any matter cited above that is not completed correctly and in a timely fashion, it
sha11 first make demand of Owner to make any necessary corrections or to take other
prudent remedial measures within a 5 day time period or, if reseeding is required,
within an appropriate time. If Owner is unwilling or unable to honor its agreement as
determined by the City, the City may draw from the Escrow Account, as necessary.
. The remedies afforded to the City under this agreement shall be in addition to any
other remedies which the City may be entitled by law or equity or other
agreement.
5. CLOSING ESCROW. The escrow, less any eligible expenses, shall be returned
to the Owner two growing seasons after planting if the planting is successful. If
substantial portions of the plantings are not successful after one planting season
the City may hold the escrow for an additional planting season. If substantial
portions of the plantings are not successful after two planting seasons the City
may hold the escrow for two additional planting seasons.
5. RIGHT OF ENTRY. Owner grants to the City, its agents and its employees, the
right to enter on the Property for the specific purpose of inspecting or completing
the improvement of the buffer should Strong Arm Construction Services, LLC,
not successfully establish the buffer planting.
CITY OF ORONO
BY:
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OWNER
BY:
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