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Feb 10 12 07;17a Jason Smith 480-664-4838 p.1 <br /> . , • 'I� <br /> � <br /> BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2Q12-00072 and <br /> LAND llSE APPLICATION ESCROW AGREEMENT <br /> Application#11-3527 <br /> AGREEMENT made this � cEay of F ��•�1. 20,� by and between the GlTY OF <br /> ORONO, a Minnesota municipaf corporat�on ("Git�')and Jason a d.lody Smith ("Owners"). <br /> ReciEals <br /> 1. Owners have filed Suilding Permit Application #2012-00072 and Zoning Applieation #11-3527 <br /> formally requesting the City to review plans for a s�ree� porch and garage additians IocaEed at 2690 Rainey Road_ <br /> the `Subject ProperE�') fegally described as Lot 3, Block 2, Trees to Be, together with the appurtenant <br /> easement(s) contained in Document No. 5441457, according to the recorded plat thereaf on file and of reeord in <br /> the office of the County Recorder, Hennepin County, Minnesata. <br /> 2. Owners request the City to review said plans which requires Gity approval including a variance <br /> and building permit <br /> ' 3. �hetCity is wiqi�g to oommence its review of the application and incur costs associated with said <br /> i review only if the Owners establish an escrow to ensure reimbursement to the City of its costs. <br /> � NOW THEREFORE,THE PARTIES AGREE AS FOLI.OWS: <br /> 1. DEPOSIT OF ESCROW FUNOS. Contemporaneously wilh the execufion of this Escrow <br /> Agreement, the dwnecs shall deposit$2,5fl0 with the City. AI1 accrued interest, if any, shaN be paid to the City to <br /> reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the Ci�y <br /> for all aut-of-pocket costs the City has incurred (including planning, engineering, or legal cnnsultant review}or will <br /> incur in mee#ing with the Owners, rewiewing the p�ans, and preparing agenda packet material for City Council <br /> review of building permit application #2012-00072 and variance application 11-3527. EligiE�le expenses shalf be <br /> consistent wrth expenses the Owners would be responsible for under a zoning and subdivision apPlication. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shali be responsible for payment to the City within 30 ciays of the Owners' <br /> receipt of bilL <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make <br /> payment to the City within the timeframe outlined in #3 above, shall cease all reyiews ur�til the Owners pay all <br /> expenses invoiced pursuant to#3_ The City may draw�rom the escrow account without further approval of the <br /> � Owners to reimburse the City for eligibte expenses the City has incurred_ <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, rf any, shall be returned to the <br /> Owners when the review has been completed. <br /> 6. CERTIFY UNPAiD CHARGES. !f the project is abandoned by Owners, or if the eligible expenses <br /> in�urred by the City exceed the amount in escrow, the City shall have Fhe right to certify the unpaid balance to the <br /> s�bject property pursuant to Minn. Stat.§§415.01 and 366.012. <br /> r, <br /> �•� <br /> CITY: CITY OF O ONO OWNERS:,''�s�i : 1� <br /> _ ` t <br /> By: By: � ' ` ' <br /> - � � <br /> � � �,�� <br /> its: � � �ts: <br /> Internal Use Onty: 0 Original to Finance Qepartrnent t]Copy to Zoning File 0 Copy to Street File <br />