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. ,✓ <br /> , BUtI.DING PERMlT ESCR+OW AGREEMENT <br /> t�rono Buikting Pern►R lt2fl10-01145 <br /> AGf'REEMEt�iT made this �-� day of �+ ��/ , 20��, by e�nd between tt►� CITY O� t7#tONO, <br /> a Minnesota municipal corporation("C�t}�`} ar�d Benj�min Milbrath �"4wners'). <br /> Racitats <br /> 1. A �ildin$ perrnii appfication has s�een �ied tor oonstr�cUon of a new t�ome iocated at <br /> 1404 Baldur Park Road the ("Subject Property'), iegatty descritxd as Lot 1A, Siock 3, Bakiur Par�c, Hennepin <br /> CouMy Minnesc�ta. <br /> 2 Ownar requ+esis th+e City io review this application. <br /> 3. The C�y will commence its rsvnew oi ihe appiicatio+� and incur costs associated with sa'rd rsview <br /> onty if tt�e Owner establishes an escrow to ensure reimburs�m�nt to the City c�f its costs. <br /> NOW THEREFORE, Tl�E PARTIES At3REE AS FOIL{)WS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Cantemporaneously wiih the executaon af this Escrvw <br /> Agreement, t#ne Owners shaN dep�osit$2,5tl0 with ihe City. AI� accrued interest, if arty, shatt be paid ta Lhe Cityr to <br /> reimburse the C�ty for its cost in administering the escrow�unt. <br /> 2. PURPOSE C?F E�OW. The putpose Of t11B BBCtnw i� t0 �Ut��n��� <br /> for a!I out-t�f-pot�cet costa the City t�� incurr�i (inciuding ptannin�a. ¢^�' <br /> consuttant review) or wip mcur ;n rev+�wir�g the p�an. Eiigible e� ` � � ` <br /> Owners wcwld be responsibie for �nder a building pQrmit � � <br /> reimbursems�to tt►e City tor all out-of•�ockert costs the City t►as int `\ ; <br /> acc�rdance w�th the Storrnwaler Pailutibn prevention Pian and the _ \ �\�� �- <br /> Ttie financ+al security may atsa be used by ihe City #o elir�mate �n � 1 �, �� <br /> work and to repair any damage to publ�c property of irfrasirudure ths �, <br /> engineering, or leg�l consuttant review) assoCiated with building p� 'f� . <br /> approved buildanfl permn is not acco�+npiisheci. \�� t( <br /> �xi� <br /> 3. MONTHLY B1Ll.IN�G. As the+City receives �onsunar►t t , <br /> send e b+ii to the Owners. C�nmers shal� be responsibie for paymern it . � � _�-� <br /> receipt at bilL `� '�� <br /> �� 1` ' <br /> �. DISBUR8EMEN7' FROM Ei�CRCYW ACCC}UNT. In the ever ' �,-�,� � <br /> to 3he City wi#hin the timefram� outlin�d in#3 above, shall issue 8 Stop Wc�ric� � <br /> invoic�d pursuant to #3. T�e City may draw from the escraw accolint with \ �� .,,ars to <br /> re�rtburse the Ci�r for eligible e�cpenses the City ttas incurred. <br /> 5. CL.OSiNG ESCROW. The Balance an deposit in the escrwv, if any, shaii be re#urned to the <br /> Owners when the r�ev�ew has been catnpieted and y�rritten notification is rec,�ived f►an the 4r+vners requesting the <br /> funds. <br /> 8. CERTiFY UNPAID CHARQES. If the pro��ct�s abandon�,d by Owners. Qr if the ef+gible expenses <br /> incurred by the City exceed the amoun# in escrow, tt�e City shal! have the right to certify the unpaid balance to t�e <br /> subjeci erty pursuant to Minn. Stat. F§�15.01 enc! 388.012. <br /> C 1f: C - O NO " <br /> � . �� ow . <br /> �y. `� � <br /> ��: � <br /> Irrf�t`ni�l Wa anly: O thiginat to���nce Depm�rtrnent fl Copy M Str+eet FI1e <br /> ___._ .. --__---_.._____. � <br />