Laserfiche WebLink
� e � <br /> * <br /> � � � <br /> BUILDING PERMIT ESCROW AGREEMENT � <br /> • ' Orono Building Permft #2011-01554 � � <br /> ,f � <br /> AGREEMENT made this �-=,b day of, 1 C , 20(�, by and between the CiTY OF ORONO, <br /> a Minnesota mu�icipal corporation ("City")and ���,�TL(�, k���z��- ("Owners"). ' <br /> Recitals <br /> 1. A building permit application has been filed for an addition to the home located at 2900 Deer Run <br /> Trail, the ("Subject Property"j, legally described as Lot 8, Block 4, Old Crystal bay Road Addition, Hennepin ' <br /> County Minnesota. <br /> 2. Owners request#he City to review this application. <br /> 3. The City wili commence its review of the application and incur costs associated with said review ' <br /> onfy if the Owner establishes an escrow ta ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLL�WS: <br /> 1. DEP�SIT OF ESCROW FUNDS. Contemporaneously wlth the execution of this Escrow <br /> Agreement, the Owners shal! deposit$2,50Q with the C9ty, All accrued interest, if any, shall be paid to the City to <br /> reimburse the City for its cost in administering the escrow account. ; <br /> 2. PURPOSE OF ESCRQW. The purpose of the escrow is to guarantee reimbursement to the City � <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal <br /> consultant review) or will incur in reviewing the plan. Eligible expenses shall be consisfent with expenses the <br /> Owners would be responsible for under a building perrnit application. The escrow will also guarantee <br /> reimbursement to tFte City for all out-of-pocket costs the City has incurred to assure that the work is completed in <br /> arxordance with the Stormwater Pollution Prevention Plan and the provisians of Orono City Code Chapter 79. <br /> The financial security may also be used by the City to eliminate any hazardous conditions associated with the <br /> work and to repair any damage to public property or infrastructure that is caused by the work(including planning, <br /> engineering, or Isgal consultant review) associated with building permit #2011-01554 if compliance with fhe <br /> approved buifding permit is r►ot accomplished. <br /> 3. MONTHLY BILLING. As the Cfty receives consultarrt bills for incuRed costs, the City will in tum <br /> send a bill to the Owners. Owners sha11 be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment <br /> to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay al1 expenses ' <br /> invoiced pursuant to #3. The City may draw from the escrow account wlthout further approval of the Owners to <br /> reimburse the City for eligible expenses the City has incurced. <br /> 5. CLOSING ESCROW. The Salance on deposit in the escxow, if any, shal! be returned to the <br /> Owners when the review has been completed and written not�cation is received from the�nrners requesting ifie <br /> funds. <br /> 6. CERTtFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right#o certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 38fi.012. <br /> Cli"Y: C OF OR O OWNER: i <br /> B : C��✓"v`r l,'� ` , <br /> Y <br /> �� � � <br /> Its: �r�►�� ;�t i <br /> �� -�" _ � - <br /> � �M <br />