2009-00249 - new structure - Laserfiche WebLink

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BUILDING PERMIT ESCROW AGREEMENT AGREEMENT made this�,Z day of , 20d I, by anc{ between the CITY OF ORONO, a Minnesota municipal corporafion ("C' yp) and Daren C. Marhula("Owner°). Recitats 1. Owner has filed an Application for a building permit formally requesting fhe City to review plans for a new principal strucfiure located at 2100 Shadywood Road the "Subject Property", as mare fully shown below: Lot 30, Block 1, WILEY'S PARK, LAKE MINPIETONKA, except that part thereof lying northwesterly of a line drawn northeasterfy from the most westerly comer of said lot to the share of Lake Minnetonka, which fine forms an angle of 80 degrees 36 minutes with the southwesterly �ine of said lot, at the most westerfy camer of said lot, Hennepin County, Minnesota. 2. Owmer requests the City to review said p(ans which requires City approval including grading. 3. The City will commence i�s review af 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. MOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUWDS. Contemporaneously with the execution of this Escrow Agreement, the Owner shall deposit $2,500 with the City. AIf accrued interest, if any, shall be paid to the City to reimburse fhe City fiar its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to fhe City for all out-of-packet costs the City has incurred (including planning, engineering, in excess of $500, or legal consultant review) or wil! incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owner would be responsible for under a zoning and subdivision application. 3. MONTHLY BILIJNG. As the City receives consultant bills for incurred costs, the City will in tum send a bi[I to the Owner. Owner shall be responsibls far payment to the City within 30 days of the Owner's receipt of bill. 4. DlSBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not make gayrnent to the City within the timeframe outlined in#3 above, the City may draw from the escrow account without further approval of the Owner to reimburse the City for Eligible expenses the City has incurred. The City shall notify the Owner the Owner of such draw and the nature of the expense for which the reimbursement is being made. ff the Escrow amount falls below 75% of the original escraw amount the owner shall deposit additional sums as directed by the City, or the City shall discontinue review and po5t a 5top Work Order.