|
TEMPORARY CERTIFICATE OF OCCUPANCY
<br /> ESCROW AGREEMENT
<br /> Building Permit#2015-01193
<br /> AGREEMENT made this + day of J Vi
<br /> h
<br /> n ORONO, a Minnesota municipal corporation ("City") and Steven Elliott b0 nersd between the CITY OF
<br /> Recitals
<br /> 1 Construction of the new residence located at 1400 Baldur Park Road the ("Subject
<br /> �, . Property"), legally described as Lot 15, Block 1, Baldur Park, Minnesota in Orono,
<br /> Hennepin County Minnesota, is the subject of building permit #2015-01193 has been
<br /> x completed.
<br /> 2. Weather conditions currently prohibit completion of exterior improvements, final grading,
<br /> and vegetation establishment. An as built survey cannot be accurately conducted at this
<br /> .� time.
<br /> t 3. Owners request the City issue a temporary certificate of occupancy("TCO")to the Owners
<br /> 3¢ #
<br /> so that the Owners may occupy the new residence.
<br /> r
<br /> 4. The City will issue a TCO only if the Owners establish an escrow to ensure completion of
<br /> exterior improvements, continuation of erosion control and submittal of an as-built survey
<br /> to the City.
<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$10,000 with the City. All accrued interest, if any, shall be paid to the
<br /> City to reimburse the City for its cost in administering the escrow account.
<br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to assure completion of any
<br /> exterior improvements, final grading, establishment of vegetation as well as guarantee reimbursement to
<br /> the City for all out-of-pocket costs the City has incurred(including planning, engineering, in excess of$500,
<br /> or legal consultant review) or will incur in. reviewing the plan. Eligible expenses shall be consistent with
<br /> expenses the Owners would be responsible for under a building permit application. The escrow will also
<br /> guarantee reimbursement to the City#orallaut-of-pocket costs the City has incurred to assure that the work
<br /> is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City
<br /> Code Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions
<br /> associated with the work andloy damage to public property or infrastructure that is caused by the
<br /> work (including planning, engineering, or legal consultant review)associated with building permit#2015-
<br /> 01193 if compliance with the approved buildingpermit is not accomplished.
<br /> iHLY . A,s r City receives consultant bills for incurred costs, the City will
<br /> int be responsible for payment to the City within 30 days of the
<br /> W ACCOUNT. In the event that the Owners do not make
<br /> '''';%:-;0.;11t:'''' .",,,,-,-.1. 1
<br /> ;,,r,T,':: ' 1.4:;1111‘eti--.1';' ':;:: ': ',-:`--;`,,-,•1 • E
<br /> rr " - above, shall issue a Stop Work Order until the Owners
<br /> . to easesdraw from the escrow account without further approval
<br /> fr � ° '$ � �� , P' l e senses the City has incurred.
<br /> „ t ` --dam, . ' dance on deposit in the escrow, if any, shall be returned to
<br /> „:,,-,-,;4--1'4.11;:::;;:: .,,,„
<br /> ;',' c ; .:1,1 ' ` : '; ect are com lete. CityStaff shall review the terms of
<br /> f0 'J�rol P
<br /> r amine whether the requirements of the project have been
<br /> h '• s$ �` , is appropriate to return the funds. Owner may also request the
<br /> ''''-':'''r*k':':':'-7r;':;l;':"2::,,---;v-le,-,--% A ,' : t a released upon City Staff receiving the appropriate verification
<br /> .v s'� 4 f€Ij:successfully completed.
<br /> ,;1,7,,,:,--0:„.,-_,.,-,..,,,/i'-'',.;,,, '!F Page1of2
<br />
|