2012-00529 - escrow fee - Laserfiche WebLink

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BUILDING PERMIT ESCROW AGREEMENT Oror�llulldin�Permit x2012.00339 AGREEMENT made this/ day of 20/-26y and between the CITY OF ORONO- a Minnesota municipal corporation("Ci?y'h and Mansel&Jill Dyer('Owners') I A building permit application has been flied for a home addition located at 4115 Watertown goad the ('Subject Property"). legally described as Lot 2. Block 1, Maple Race Second Addition, Hennepin County Minnesota 2. Owners request the City to review this application 3. The City will commence its review of the application 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 E5tt7R FU 0 . Contemporaneously with the execution of nis Escrow Agreement,the Owners shalt depcsi 2.500 dt+the City. All accrued interest, 0 any,shall be paid to the City to reimburse the City for its cost in adm g the escrow account. 2. PURPOSE OF ESCROW,The purpose of the escrow is to guarantee rei-ntursement to the City for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible; for under a building permit appiication. The escrow will also guarantee reimbursement to the City for all out-of-pocket casts the City has incurred to assure that the work is completed in acordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City tc eliminate any hazardous conditions associated with the work anc to repair any damage to public property or infrastructure that is caused by the work(including planning, engineering, or legal consultant review) associated with building permit x2012.00339 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be responsible for payment to the City wrhin 30 days of the Owners', receipt of bill. e. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City within the timeframe outlined in 03 above. shall issue a Stop Wort,Order until the Owners pay aY expenses invoiced pursuant to 11113. The City csiay draw from the escrow account without fwtt,,er approval of the Owners to reimburse the City for eligible expenses the City has incunied. S. CLOSING ESCROW.. The Balance on deposit in the escrow, if any, shad be returned to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. S. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners,or if the eligible expenses incurred by the City exceed the amount in escrow,the City shalt have the right to certify the unpaid bolance to the subject property pursuant to Minn.Stat.§§415.01 and 366.012. CITY: CITY OF ORONO OWNER: By._� -- Its: —.� A 15?4?Z Irowo111"Val a 4wowu pbsidne OVa fossa tOiiaarr O`CIq 911tIsee4Bu _tet' 'L1