2017-00638 - escrow fee - Laserfiche WebLink

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�e� �c� � � S BUILDING PERMIT ESCROW AGREE N't Orono Buiiding Permit� aZ -QO �� AGREEMENT made this,�,�day of 20J�, by and between the CITY OF ORONO, a Minn�sota municipal corporation('City"}�av{�L� W nd (°�e�•j Recitals 1. A building pemi� application t� been flled a d'e �� evb�. � located at �lSa A�f lffa� DJ�• the (°Subject Prope�t�'), legally describ das_ �2��-llt-z3�al-er,�,� 2. Owners request the City to review this application. 3. The City will canmence its review of the application and incur costs associated with said review only if the Owner estabiishes an escrow to ensure reimbursemerrt to the City of its c;osts. NOW 1�HEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT Of ESCROW FUNDS. Contemporaneously with the execution of this Escrow Ag�:ement,the Owners shall deposit$2,500 with the City. All accrued irrterest, if any, shall be paid to the City to reimbunse the City for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbu�sement to the City for all�ut-of-pocket costs the Cit�r has incurred {including planning, ernNneeMnQ. in __ cess of 5500, or legal r.onsu nt review) or will incur in r�eviewing the pla�. Eligible e�enses shall be co�sistent witfi expenses the Owne would be responsible for under a building permit appl'�cation.The escrow will also guarantee reimbursemeM to the�it�r for a!I out-of-podcef costs the City has incurred to assure that the work is completed in accordance arith the Sto water Pollution PreveMion Plan and the provisions of Orono City Code Chapter 79.The financial security may al�o be used by the City to eliminate any hazardous conditions associated with the vrork and to�epair any dama to publ� property or infrastructure that is caused by the worl� including planning, engineering, or legal g� f as consult�nt review) associated with building permit��`J-bD rf�� if compliance with the approved bui�ing�mit is not accomplist�ed. 3. MONTHLY 81LLING. As the City receives consultant bills for incwred costs,the City will in tum send a�ill to the Owners. Owners shall be nesponsible fo�payment to the City within 30 days of the Owners'receipt of bill. 4. DISBt1RSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make paymeM to the Cit�witt�in the time#rame outlined in�!3 above, shall issue a Stop Woric Order until the Owners pay all expenses invoic�l pursuarrt to�t3. The City may draw from the escrow acxount without furiher approval of the Owners to reimburse the Cit�l for eligible expenses the Ciry hes incumed. 5. CLOSING ESCROW. The Balance on deposit in the escrow,if any,shall be retumed to the Ovmers when a�l requirements related�the project are c�mplete. City Staff shall review the terms of this escrow agreement two times per year to d�ermine whether the requiremeMs of the projec�have been successfully oompleted and wheth�r it is appropriate ta�um the funds. Owner may also�equest the release of the funds,and such funds shall be released upon City Staff receiving the appropriate verification that all requirements of the project have been succ�sfuly completed. � 6. CERTIFY UNPAID CHARGES. if the project is abandoned by Owners,or ff the eligible expenses incutte�d by the City ex�the amount in escrow,the City shall have the right to ceRify the unpeid balance to the subjec�property pursuant to Minn.Stat.§§415.01 and 366.012. CR'Y: ICITY OF ORONO NE : By: (�c�U�c� k IfS� INYLL�'11LI�t.l�11� �P-VVt.[�l't� �-tY1CL,� � �� - � �,�_,��J�'ra.,e!Oi��y: �,. �3�In`etio��ann,r.`n�. . . _ , �c�s�►�ow�er ��ocop�i�b . . ,. ,_ n��`�_d$��. � ��I'e casr u�red: .�a,�,syzo�s