2010-01158 (Escrow) - Laserfiche WebLink

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' BU�LDlNG PERMIT ESCROW AGRE�MENT Ortsno Building Permit#2010-01145 AGREEMEN7 made this Zti day af �"' � �/ , 2Q i t , by and between the C9TY OF C�RONC�. a Minnesota mur€tcipai corporation ("City'°) and Ben�amin Milbrath {�Owners"). �i @GI�+i3�S 1 A building permii application has been fiiec fo� construct�on o` a new home located at 1d44 Baldur Paric Road the ("Sub�ect Property"), legaiiy describe� as Lo: 14, Slock 1, Baldur Park, Hennepin County Minnesata. 2 Owner requests fhQ City to review this applicatior:. 3. The City will cor�m�n�e its revrew of the appiication and incur ccsts associated wrth sara review on�y if the Owner establfshes an escrc7w tc�e�nsure reimbursement to the City af �ts costs. NOW TNEREFORE, THE PARTiES AGREE AS FO�L�WS. 1. DEPO5IT �OF ESCRQW �UNDS. Contemporanpously with th� execut.on of this Escrow Agreement, the Owners sha#1 deposit$2,500 with ihe City. All accrued interest, i` any, shall be paid ta the Ctty to reimburse t�re G�ty for its cost m admini�terinc� the escrow accoun.. 2. PURPflSE OF ESCROW. Ttre purpase of th� escrow is to guarantee �eimburserneni to tt►e City for ail out-of-pocket costs #he City has inCurred (inciuciing pranning, er,gineermg, in excess vf $5�0, or legal consultant review) or will �ncur in r$viewint� the pian Eligible expenses shal; be cons�stent with expenses the Owners wauld be respansibie for under a build�ng permit appii�ation. Th� escrow wt11 aiso guaraMee reirnbursemerrt to the C�ty for �II out-ofi-pocket cosfs ;he City has incurred tcz assure tnat the wc>?rlc �s completed in accardance wiih the StQrmwater Pallution f'revention Pfan and ihe provisians of Ortrno City Cade Chaptar 79. The f+nancial securily may alsa be usec! by the City to eliminate any hazardous c�nditians associatad with the work and to repair any damage ta public property o; infrastructure that is ;aused by the work (inc►uding pfanning, engmeeri�g or legal consultant review) assaciated with buitding permit #201t�-011d5 ii compiiance with khe �pproved builtiing permtt rs nat accomptish�d. 3. MONTHLY BILLING. As the Gity receiues consultant biifs fr�r �ncurred costs, the C�ty w�li �n twr, send a bill ta the Uwners. (.7wners shall be respar,sibte for aayment to ;fie City uv�*hin 3C� days of the Owners' receipi of bill. 4. DISBURSEMENT FR{NVl �SCRO'W ACCOUiVT. In the event that the Owners c�c� nnt make payment to the City witnin the tlmeframe outlined in#3 above, sY►al� issue a Stop Work �rder until the Owners pay al! expenses invoiced putsuant to #3. Tnc City rnay draw fram ihe escrow account +r+iitho;,rt further appraval of the Owners ta reimburse the C1ty for eltgible e�cpenses the City ttas incurrea 5. CLpSiNG ESCROW. The Balance on dsposit �n the escrow, if any, sha�i be returned to the Owners wh�tn the review has t�n compieted and vuritisn no#ification is r�c+��ved fram th� Owners requesfing the funds 6. CERTIFY UNPAID CHARGES. If the project �s abandoned by �wriers, or 'r,`the el�gibie expenses incurred by the City exceed the amount {n escraw, tr�e Ctty shall have the righ+ to certify the unpaid balance to the s�bject erty pursuant to Minn. Stat �§�15.D't and 366.0'f2_ ..___�-..__._._-.,�. CtTY: CiTY��U�i NO OW : " .� �� , ,-C:_ ti _ � � Its: �-�[,ti'�U�y� '�..� ._..�-�,- ��.��._.._..._..._......�.._._._._....v_........�..._.�� __��i Inbsrnal Use Onry: t] CNi�ginal to�inance Deps�rtment Q Copy to Street Fi1e