2015-01384 (escrow fee) - Laserfiche WebLink

Home Browse Search

' BUILOIN� PERMIT ESCROW A(3REEMENT 4rono Butlding Permit# ZOI 5 - 6l.'�2- De�l1'to �'rv�i� l' 2�15' 013g3 AGREEMENT made this�day of__N�Yt�'Mlbt� 20� by and between the CITI( OF ORONO, a Minnesota municipa(corporatian("Cit�')and_ �'Ql'� t Sd^Oh Sf'vNUc. (°Owners"). �ecitais � 1J�S�n9ll �S,m i(� {-}f,uu- 1. A buiiding permit apptication has been filed for _ !�1 d- Q�'t2.� �� located a# �SGO i r' � the (" u 'ect �rope�'t ?, legai1y de�cribed as ot �nS �D�s iv�S�o� v�� n•�q f-'a.r{c Lo7F'S 2. Ow�ers request the City to review this application which requires City approval and may require consultant legal andlor engineering review. 3. The City will commence its review af the appiication and incur costs assoctiated with said review only if the Owner esteblishes 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. Alt accrued interest, ff any, shall be paid to the City to reimburse the Ciry for its cost in administering the escrow account. 2. PURPOSE OF ESCROW.The purpose of the escrow is to guarantee reimbursement#o the City for all out-of-pocket costs the Ciry has incurred (inctuding planning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the plan. Eligibte expenses shall be oonsistent with expenses the Owners would be responsible for undei a building permit application. The escrow will also guarantee re�nbursement to the City for all out-of-pocket costs the City has incuRed to assure that the work is oompleted in accordance with the Stormwa#er Pollution Prevention Plan and the p�ovisions of Orono City Code Chapter 79. The�nancial security may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public p�operty or infrastructure that is caused by the worlc(including ptanning,engineering,or tegal consuttant review)associated with � bultding pe�mit# 2��0 if comptiance with the approved building permit is not accomplished. 3. MONTHLY BtLLING. As the City receives consultant bitls far incurred costs, the Ciry will in tum send a biN to the Owners. Owners shalt be responsible for payment to the City within 30 days of the Owners'receipt of bill. 4. DISBUR3EMENT FROM ESCROW ACCOUNT. In the event that the�wners do not make payment to the City withi� the timeframe ouHined in #3 above, shall issue a Stop Wo�ic Order unti! the Owners pay alt expertses involced pursuant to#3. The City may draw from the escrow account without further app�oval of the Owners to reimburse the Ciry for eligible expenses the City has incurred. 5. CLOStNG ESCROW. The Baiance on deposit in the escrow, if any, shall be retumed to the Owners when all requirements related to the project are compiete. City Staff shall review the terms of this escrow agreement two times per year to determine whether the requirements of the project have been successfully completed and whether ft is appropriate to return the funds. Owner may also request the release of the funds, and such funds shall be reieased upon City Staff receiving the appro�riate ve�cation that all requirements of the project have been successfuliy completed. 6. CERTiFY UNPAIO CHARGES. If the project is abandoned by Owners, or if the eligibte expenses incurred by the City exceed the amount in escrow, ihe City shall have the right to certify the unpaid balance t4 the subject property pursuant to Minn. Stat.§§415.01 and 366.012. CITY: CITY OF ORONO O By: � � �J� � ��: � L_ Internal Use Only: 0 ONglnat to Ftnance Department G Copy to 3Veet File Padcet Last UpdaMd.• Jenuary 2015 Peya 22