2014-00113 (escrow fee) - Laserfiche WebLink

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� � . i � BUILDING PERMIT ESCROW AGREEMENT Orono Building PeRnit#2014-00 25 and Demolition Permit#2014- � AGREEMENT made this 5 day of f-t�iY , 20�by and between the CITY OF ORONO, a Minnesota municipal corporation (°Ciry") Martin&Kathryn Leestma 'Owners"). Reci Is 1. A building permit application has been filed for a new single family home located at 32Z5 Casco Circle the ("Subject Propert�'), legally described as All that part of Lot 28, Spring Park, lying westerly of a line described as follows: Commencing at a point on the northerly line of said Lof 28, distant 45.5 feet soufhwesferly, measured along said northerfy line from the northeasterly comer of said Lot 28 which comer is marlced by a judicial landmadc; thence southerly along a straight line fo the shore of Lake Minnetonka, said straight line passing fhrough a point, marked by a judicial landmarfc, which is 9 feet westeNy, measured at right angles, with the easterly line of said Lof 28, from a point in said easferly line of said Lot 28, distant 262.5 feet southerly from the northeaster�y comer of said Lof 28;also all of Lots 29 and 30, together with and including that part of Lake Shore Avenue, vacafed, lying in said Lots 29 and 30 and in that parf of said Loi 28 hereinbefore described, all in Spring Par1c, according to the p/at thereof on fi/e and of record in fhe office of fhe Registrer of Deeds in and for Hennepin County, Minnesota, and the NoRhwesterfy comer of Lof 30 having been marlced with a judicial landmark, and further judicia!land mark having been located on the westeriy line of Lot 30 at a point which is 249.2 feet southe�iy from fhe no►fhwesterly comer thereof. 2. Owners request the City to review this application. 3. The City will commence its review of the application and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit$2,500 with the City. All accrued interest,if any, shall be paid to the City to reimburse the City for its cost in administering the escrow account. 2. PURPOSE OF ESCROW.The purpose of the escrow is to guarantee reimbursement to the Ciry for all out-of-pocket costs the City has incuRed(including planning,engineering, in excess of$500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a building permit application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79.The financial securiry may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused by the work (inGuding planning, engineerin , or legal consultant review) associated with building permit #2014-00025 and demolition permit#2014- 00 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in tum send a bill to the Owners. Owners shall be responsible for payment 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 Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without fu�ther approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned 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 ro erty pursuant to Minn.Stat.§§415.01 and 366.012. / CITY: C T�f QF OR�NOr� OWN By: �� ` ."� Its: �ii+�� .:��: �� "` ��t�r��:' �°��', : ,��?!��,�:.. _.��