2013-00768 - escrow fee - Laserfiche WebLink

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i . BUILDING PERMIT ESCROV�1_AGREEMENT Owno Buiiding Pertnit# I�D13�-Obl�Ol AGREENIENT made this�_day of , 20�� b and betvveen the CITY OF ORONO, a Minnesota municipal carporation ("City")and -1� ��0��• Recitafs 1. A building permit appfication has been flled for �,,�IYY1Y�1ill� �cated at the("Subject Property"), legally described as L4(-2-� PiMX.L.� � 1� ►' ►nl OOd�lennepin County Minnesota. 2. Owner requests the City to roeview this application. 3. The City wiN commence its review of the appl'�ation and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSiT OF ESCROW FUND3. Contemporaneously with the execution of this Escrow Agreement,the Owners shall deposit$2,500 with the City. AI1 au:crued interest, if any,shaft be paid to the City to reimburse the City fo�its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee r�imbursament to the City for all out-of-pocket costs the City has incurred(including planning, engineerirtg,in excess of$500,or legai consultant roview)or wili incur in reviewing the plan. Etigible expenses shall be consistent with expenses the Owrters would be responsible for under a building permit application. Tlie escrow will aiso guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assune that the work is complefed in accordance with the Stormwater Pollution Prevention Ptan and the provisions of Orono City Code Chapter 79. The flnancial security may also be used by the City to e{iminate any hazardaus c�nditions associated with the wo�ic and to repair any damage to public property or infrastructure that is caused by the wor9c (inctuding p�nning, engineering, ar legal cansuttant review) associated with building permit # Z413--(�U�(D� if canpiiance with the approved building permit is not accomplished. 3. MON'fHLY BILLIPIG. As the City receives consultant bills for incurred costs, the City will in tum send a bill to the Owners. Owners shall be responsibfe for payment to the Ciry within 30 days of the Owners'recsipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUN7. In the everrt that the Ovmers do not make payment to the City within the timeframe ouUined '+n #3 above, ahall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to#3. The City may draw from the escrow accou�without further approval of the Owners to reimburs8 the CitY fa' eligible expens�the City has incurrecf. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed to the Ownecs when the review has been completed snd w�ittan notification is received from the Own�rs requesting the funds. 8. CERTiFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligibfe expenses incuRsd by the City exceed the amount in escrov+r,the City shatl have the rigM to cerMy the unpaid balance to the subject property pursuant to Minn. Stat§§415.01 and 366.012. CITY: 1 OF RONO OWNER: � By. r ��: . � PeCket LBst Updeted: 03�29�13 , PaQe 21 of 2f