2014-00269 - escrow fee - Laserfiche WebLink

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BUILDING PERMIT ESCRO AGREEMENT Orono Building Permit# 013-01041 AGREEMENT made this�day of , 20� by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") Gonyea H mes ("Ow ers ). Recitals 1. A building permit application has been fil d for a new single family home located at 75 Bayside Trail the ("Subject Property"), legally described s Lot 5, Block 1, Bayside Meadows, Hennepin County Minnesota. 2. Owners request the City to review this appllcati n. 3. The City will commence its review of the appli tion and incur costs associated with said review only if the Owner establishes an escrow to ensure reimburseme t to the City of its costs. NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contem oraneously with the execution of this Escrow Agreement, the Owners shall deposit $2,500 with the City. All ccrued interest, if any, shall be paid to the City to reimburse the City for its cost in administering the escrow accou t. 2. PURPOSE OF ESCROW. The purpose of the scrow is to guarantee reimbursement to the City for all out-of-pocket costs the City has incurred (including pl nning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the plan. Eligible xpenses shall be consistent with expenses the Owners would be responsible for under a building permi application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City ha incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan an the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to elimina e any hazardous conditions associated with the work and to repair any damage to public property or infrastruct re that is caused by the work (including planning, engineering, or legal consultant review) associated with buil ing permit #2013-01041 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives con ultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be responsible for p yment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City within the timeframe outlined in #3 above, shall issue a top Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow ccount without further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on depos t in the escrow, if any, shall be returned to the Owners when the review has been completed and written notifi ation is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is bandoned by Owners, or if the eligible expenses incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the subject property pursuant to Minn. Stat. §§ 415.01 and 366.012. CITY: IT,Y OF ORONO OWNER: gy: �V I1,'�r�i�.�,�/ ��,��, 1j'�J � �, ,' Its: �� L�� , � ��t -�c� ��u�v�c� Internal Use Only: 0 Original to Planning 0 Cop to Property Owner � Copy to Street File