Laserfiche WebLink
DEMOLITION PERMIT 2013-01044 <br /> Land Use#13-3618 <br /> ESCROW AGREEMENT <br /> AGREEMENT made this�day of��'�ib[.� , 20�, by and between the CITY OF ORONO, a <br /> Minnesota municipal corporaiion("City")and Edward&Julie("Owners"). <br /> R ci I <br /> 1. An application for a demolition permit has been filed for a detached structure (garage) located at <br /> 2248 Shadywood Road ("Subject Property") legally described as Lot 7, Block 1, Wiley's Park Lake Minnetonka, <br /> Hennepin County, Minnesota. <br /> 2. In conjunction with the demolition, erosion control measures are required as shown on attached Exhibit <br /> °A� <br /> NOW,THEREOFRE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contempo�aneously with the execution of this Escrow Agreement, <br /> the Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to reimburse the City <br /> for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for all <br /> out-of-pocket costs (including planning, engineering,or legal consultant review) the City has incurred to assure that the <br /> erosion cont�ol measures are installed and maintained so the property complies with the provisions of Orono City Code <br /> Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions associated with <br /> the work and to repair any damage to public property or infrastructure that is caused by the work. If compliance with <br /> the approved Land Disturbance Permit is not accomplished within the allowable time period, the City may bring the <br /> project into compliance by use of the security. <br /> 3. RIGHT OF ENTRY. The Owne�s hereby grant the City, its agents,employees, officers and contractors <br /> the right to enter the property to perform all work and inspectians deemed appropriate by the City in conjunction with the <br /> required erosion control measures, including but not limited to constructing or completing any and all of the agreed upon <br /> improvements should the Owners'contrador not complete those improvements by the date specified herein. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in tum send <br /> a bill to the Ow�ers. Owners shall be responsible for payment to the City within 30 days of the Owners'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 tirneframe outlined in#3 above, shall issue a Stop Worlc Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without fu�ther approval of the Owners to <br /> reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. A�y remaining amount of the financial security deposited with the City for <br /> faithful pertormance of the plans and specifications and any related remedial work will be released after the completion <br /> and inspection of all such measures and the establishment of final stabili2ation for the Subject Property. <br /> 6. CERTIFY 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 �ight to ce�tify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY•r'CI Y OF ORONO r OWNERi� -- - - ' <br /> � �,�; <br /> By; � �,� �`� p,��`�'v ���� <br /> - ' � r / � �/ <br /> ItS: � i G,l� Q � <br /> J <br /> Internal Use Only: O Ori�inAl to Finance DepArimeat L7 Copy to St�eet File <br />