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SWLOMNO PERMIT ESCROW AGREEMENT <br /> Oros 9uMM Perink tfM3MM <br /> DEMOLITION PERMIT <br /> OM34MM <br /> t <br /> AGREEMENT made this day of 20_by and between the CITY OF ORONO. <br /> a Mimesota munidPW corporation <br /> CCW)Nancy Boidedn rOenr we). <br /> geywal <br /> 1. A demolition permit application and building permit applicallon has been tiled for demolition and <br /> construction of a raw sinole famlly residence located at 760 Tonk we Road the (Subject PropW, legally <br /> described as Lot 13.Panner's Point 1"Division.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 Irms costa associated with sold review <br /> only H the Owner establishes an escrow to ensure,reimbursement to the City of Its coats. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. D1:POa;IT OF ESCROW FUNDS. Cotemporansasly with the exacution of this Escrow <br /> Agreement.tae Owners shah deposit$2.500 with the City. AM accrued Intsrest,If any,sisals be paid to the City to <br /> near nbwss tins City for its cost in adminisloft tins escrow account. <br /> 2. PURPOSE OF ESCROW.The purpose of the escrow ls to guarantee reimbursement to the City <br /> for al out of-pocket coats tis City has Incurred (Including plemft enalnearlogi. in a wass of$500, or legsi <br /> consultant revlow) or wit Intra in reviewing the plan. Ellobla openew shall be consistent with mWerses the <br /> Owners would be rospa ellb- for under a bu lift penMt epploation. The escrow SMI also guarertes <br /> rolmbursament to the City for allout-cRpocdost oats the City has incurred to sown Unat tine work is completed In <br /> a000rina with the Stormvaler Pollution Prevention Plan and the provh(as of Orono City Code Chapter 79. <br /> The financial security may also be used by the City loeMmInde any hazardous conditions associatsd with the <br /> work and to rapek any damW to public property or hfrasbuctu m Dat Is caused by the wok(Including plawft, <br /> treview)associsladwith demollillonrmNSM34MM and building 011113411116111111 If iplim with l approved buft permit a sit <br /> n <br /> 3. MONTHLY SN.LING. As tit City receives consultant bills for li oil v costs,the City YM In tum <br /> send a bill to the Owners. Owners sisals be responsible for payment to to City within 30 days of tis Owners' <br /> receipt of bill. <br /> 4. Dili MRSEMENT FROM ESCROW ACCOUNT. In the event tat the Owners do not make payment <br /> to tie City w iddn the tlrnefimrus outlined In 63 above.Mall issue a Stop Work Order until the Owners pay all expsr ses <br /> Irnotced pursuant lo 43. The City may draw from to escrow account without furrier approtiel of the Owners to <br /> mimbures to City for olgitnls experees tie City has Incurred. <br /> 5. CLOSMIG ESCROW. The Balance an deposit In One secrow, it any, shell be returned to the <br /> Owners when the review has been completed and written nWation ls reostved from the Owners requesting the <br /> funds, <br /> R CERTIF1f UNPAID CHARGES. VV*projectle abandoned by Owners.or latae abuts expenses <br /> Incurred by the qty m,,r a d to amount In escrow,the City dM have the dqM to arfity the unpaid balernce lo the <br /> subject property pursuant to Minn.Stat.§§415.01 and 308.012. <br /> CITY: ITY OF Oi�N OWNER: <br /> BY• VAJ -� <br /> its: <br />