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BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2013-00172 <br /> AGREEMENT made this�`day of vt, , 2013, by and between the CiTY OF ORONO, <br /> a Minnesota municipaf corporation("City")and Jorg n &Yumiko Ellingson("Ownersu). <br /> Recitals � <br /> 1. A building permit application has been filed for an addition Iocated at 2905 Si7cth Avenue North ' <br /> the{"Subject Property"), legally described as Lot 2, Block 2, Garden Grove, Hennepin County Minnesota. <br /> 2. Owners request the City to review this application. ' <br /> 3. The City will commence its review of the application and incur costs associated with said review <br /> only if the Owner establishes an escrow to ensure reimbursernent to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to <br /> reimburse the City for its cast in administering the escrow account. <br /> 2. PURpOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incu�red (including planning, engineering, in excess of $500, or legal <br /> consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a building permit application. The escrow will also guarantee ' <br /> reimbursemen#to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in <br /> accordance with the Stormwater Pollution Prevention Plan and the provisions 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 legal consultant review) associated with bullding permit #2013-00172 if compliance with the <br /> apprbved building permit is not ac�omplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills fa�incurred costs, the City will in turn <br /> send a bi[I to the Owners. Owners shall be responsibfe far payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESGROW 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 afl expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to <br /> reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owners when the review has been completed and written notification is received from the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAfD CHARGES. lf 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 to certify the unpaid balance to the <br /> subj erty o Minn. Stat. §§415.01 and 366.012. <br /> CITY: ORONO OWNER: <br /> �`'� � • � <br /> By: J �-��` S 6'.� <br /> �ts: ��°"�" r' ..�-_�---��.. <br /> ,....�� <br />