Laserfiche WebLink
. � <br /> - BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit Numbers 2016-00155(in-ground pool),2015-01444(addition/remodel) <br /> and Land Use Application#15-3738 <br /> AGREEMENT made this��day of , 20�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City")and John 8�Cyndy Bowlsby("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for additions to the existing house located at 1025 <br /> Spring Hill Road the(°Subject Property"), legally described on Exhibit A, attached. <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 reimbursement 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 cost 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 incurred (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 reimbursement <br /> to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with <br /> the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security <br /> may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any <br /> damage to public property or infrastructure that is caused by the work (including planning, engineering, or legal <br /> consultant review)associated with building pertnit numbers 2016-00155,2015-01444 and land use application <br /> #15-3738 if compliance with the approved building permit is not accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners'receipt <br /> of bill. <br /> > <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to <br /> the City within the timeframe outlined in #3 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to#3. The City may draw from the escrow account without further approval of the Owners to reimburse <br /> the City for eligible expenses the City has incurred. <br /> � ' S. CLOSING ESCROW. The Balance on deposit in the escrow, if any,shall be returned to the Owners <br /> when the review has been completed and written notification is received from the Owners requesting the funds. <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 right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY OF ORONO <br /> gy.��y� <br /> Its: � <br /> �Use a�ry: a m� o co�y�+�ertll ow�' a c.�►�a,�st�e <br />