2014-01471 (escrow fee) - Laserfiche WebLink

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TEMPORARY CERTIFICATE OF OCCUPANCY ESCROW AGREEMENT Orono Building Permit#2014-00025 AGREEMENT made this� � day of�� , 20� by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and Martin & Kathryn Leestma ("Owners"). Recitals 1. Construction of the new residence located at 3225 Casco Circle the ("Subject Property"), legally described as All that part of Lot 28, Spring Park, lying westerly of a line described as follows: Commencing af a point on the northerly line of said Lot 28, distant 45.5 feet southwesterly, measured along said northerly line from the northeasterly corner of said Lot 28 which corner is marked by a judicial landmark; thence southerly along a straight line to the shore of Lake Minnetonka, said straight line passing through a point, marked by a judicial landmark, which is 9 feet westerly, measured at right angles, with the easterly line of said Lot 28, from a point in said easterly line of said Lot 28, distant 262.5 feet southerly from the northeasterly corner of said Lot 28;also all of Lots 29 and 30, together with and including that part of Lake Shore Avenue, vacated, lying in said Lots 29 and 30 and in that part of said Lot 28 hereinbefore described, all in Spring Park, according to the plat thereof on file and of record in the office of the Registrer of Deeds in and for Hennepin County, Minnesota, and the Northwesterly corner of Lot 30 having been marked with a judicial landmark, and further judicial land mark having been located on the westerly line of Lot 30 at a point which is 249.2 feet southerly from the northwesterly corner thereof in Orono, Hennepin County Minnesota, is the subject of building permit application number 2014-00025 has been completed. 2. Winter conditions currently prohibit completion of exterior improvements, final grading, and vegetation establishment. An as-built survey cannot be accurately conducted at this time. 3. Owners request the City issue a temporary certificate of occupancy ("TCO") to the Owners so that the Owners may occupy the new residence. 4. The City will issue a TCO only if the Owners establish an escrow to ensure completion of exterior improvements, continuation of erosion control and submittal of an as-built survey to the City. NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit $10,000 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 assure compietion of any exterior improvements, final grading, establishment of vegetation as well as guarantee reimbursement to the City for all out-of-pocket costs the City has incurred (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 security 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 (including planning, engineering, or legal consultant review) associated with building permit #2014-00025 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 turn send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt of bill. 155441