2013-00089 - demo - Laserfiche WebLink

Home Browse Search

DEMOl.ITION PERMIT 2013-00088 ESCROW AGREEMENT AGREEMENT made this�_day of��I 20�,, by and between the CITY OF ORONO, a Minnesota municipal corporation("City")and Jason 8� gan Gehrman("Owners�. Recitats 1. An applicatlon for a demolition permit has been flled for the principal struciure located at 4300 Sixth Avenue North ("Subject Property")legally described on attached Exhibit'A". 2. In conjunctlon wlth the demolitfon, erosion control measures are required as shovm on attached Exhibit'8". NOW,THEREOFRE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the executian of this Escrow Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to reimburse the City for its cost in administering the escrow account. " 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for all out-of-podcet costs(including planning,engineering,or legal consultant review)the City has incurced to assure that the erosion control measures are installed and maintained so the property complies with the provisions of Orono City Code Chapter 79. The financial security may elso be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused by the work. If compliance with the approved Lend Disturbance Permit is�ot accomplishec3 within the allowable tlme pe�lod,the City may bring the project into compliance by use of the security. 3. RIGHT OF ENTRY. The Owne�s hereby grant the City, its agents, employees, ofFicers and contractors the right to enter the property to pertorm all work and inspecdons deemed appropriate by the Ciry in conjunction with the required erosion control measures,including but not limited to constructing or completing any and all of the agreed upon improvements should the Owners' contraetor not complete those improvements by the date specified herein. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City w{II in tum send a bill to the Owners. Owners shail be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the e�nt that the Owners do not make payment lo the City within the timeframe outlined in#3 above,shall issue a Stop Work Order until ihe Owners pay all expenses invoiced pursuant to #3. The City may draw ftom the escrow aa�unt without further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. Any remaining amount of the financial security deposited with the City for faithful pertormance of the plans and specifications and any related remedial work will be released after the completion and inspection of all such measures and the establishment of final stabilization for the Subject Property. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses incuned by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the subject property pursuant to Minn.Stat.§§415.01 and 366.012. CITY: CIT OF O ONO OW ERS: By: : i�: lnternel Uac Oniy: O Origfual to rinance Deprrtmeat �Copy to Street File 150784