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BUILDING PERMIT ESCROW REEMENT �� <br /> Orono Building Permit#20 3-01199 ' <br /> Demolition Permit#201 -00996 <br /> Variance 8� CUP #13- 604 ' <br /> AGREEMENT made this <br /> ��d y of �� � , O�by and between the CITY OF ORONO, % <br /> a Minnesota municipal corporation ("City°} Neil & Ba ara Goodwin (°Owners"}. <br /> Recita4s <br /> 1. A building permit application has been filed for a new pnncipal structure located at <br /> 2975 Cacso Point Road the ("Subject Properky"), legally describe on attached Exhibit A.. <br /> 2. Owners request the City to review this application. <br /> 3. The City will commence its review of the applicat on and incur costs associated with said review <br /> only if the Owner establishes an escrow to ensure reimbursement o the City of its costs. , <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS; Ii <br /> 1. DEPOSIT OF ESCROW FUNDS. Contempo aneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$2,500 with the City. All a rued interest, if any, shall be paid to the City to <br /> reimburse the City for its cost in administering the escrow account <br /> 2. PURPOSE OF ESCROW. The purpose of the es row is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including plan ing, engineering, in excess of $500, or legal <br /> consultant review} or will incur in reviewing the plan. Eligible e penses shall be consistent with expenses the <br /> Owners would be responsible for under a building perrnit pplication. The escrow will also guarantee <br /> reimbursement to the City for all out-of-pocket costs the City has ncurred to assure that the work is completed in <br /> accordance with the Stormwater Pollution Prevention Plan a�d he provisions of Orono City Code Chapter 79. <br /> The financial security may also be used by the City to eliminat any hazardous conditions associated with the <br /> work and to repair any damage to pubEic property or infrastructur that is caused by the work(including planning, <br /> engineering, or legal consultant review) associated with buil ing perrr�it #2Q13-00996, Demolition permit <br /> #�2013-00996 and Variance & CUP #13-3604 if complianc with the approved building permit is not <br /> accomplished. <br /> 3. MONTHLY BILLtNG. As the City receives cons Itant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for pa ment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. I the event that the Owners do not make payment <br /> to the City within the timeframe outlined in#3 above. shall issue a top Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow a count without further approval of the Owners to <br /> reimburse the City for eligible expenses the Ci#y has incurred. <br /> 5. CLOSING ESCROW, The Balance on depasi in the escrow, if any, shall be returned to the <br /> Owners when the review has been compfeted and written notific tion is received from the Owners requesting the <br /> funds. <br /> fi. CERTIFY UNPAID CHARGES. If the project is bandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed tha amount in escrow; the City shall ave the right to ce�tify the unpaid balance to the <br /> subjecf property pursuant to Minn. Stat. §§415.01 and 366.Q12. <br /> CITY: ,1TY�OF ORD�tO OWNER: � <br /> � �� I . �3 <br /> i� i "�� <br /> �y: <br /> i �� /�"--- <br /> % , ;�,� `�- <br /> �ts: — <br /> � <br /> —�- - �-� _- -- <br /> ' ��-�-���-= _�-�����---������=_ - --���_�_.-.�����r� <br />