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08/15�2013 13:27 5072882232 FEDEX OFFICE PAGE 01/01
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<br /> BUILDING f�E}�M1T�SCRdW AGRE�MENT
<br /> Orono Buildinc� Permit#2�13�U0773
<br /> Zoning#'13-3tiO3
<br /> ~ � Le.� ,�`�y ?_0 � b �nd between the CITY OF ORONO,
<br /> AGRE�ME(�'T m�de this�_day of , .�� Y
<br /> a MinnEspta munlcip�l corporatlon t"Cit�!") Richar� &�ryl Coryea ("Owners"),
<br /> ������
<br /> Recita8s
<br /> 1. �b��ilding perm�t appfication has been iHed ta construct a one-story addition connecting the nome
<br /> to th� detached garr�ge loc�ted at 3085 Casco Point f�oad tha ("Subjeat Property"), lega(ly described as Lot 55,
<br /> including adjacent oa�e-halfi of Ivy Piace Vacated, Spring Pa�'k, Hennepin County Minnesota.
<br /> 2, Owt`ers requCst'the Ciiy to review this�pplication.
<br /> 3, TI7e Gity will commenco its review of the appiication and incur costs associa�ed with said roview
<br /> only if the Owner eslabllshes an escraw to�nsurc roimbur5ert�ent to 4he City of Its cost�.
<br /> NOW TW�RF�'ORE TH� PAR4IES A�RE� AS i-OLt�OWS:
<br /> 1. CJE��OSI'� OF �SCROW ��1NDS� Contempor�neously with the execution af this Escrow
<br /> Agroement, thd owi��ers shal) deposft$2,500 with t}�e Cfty. All accrued interesk, if any, shall bo paid to the City to
<br /> reimburse the City fr�r its cost in adminfstering 4he escrnw account.
<br /> z, PU�tPOSE OF ��CROW. The purpos� af the escraw is to guarant�e reimbursEm�nt to the City
<br /> for all out-of-pockei costs the Clty has inourred (inci��ding planning, engineering, in excess of $�50Q, or legal
<br /> consultant review) nr wilf incur in reviewing thE pfan. Glfgfble expenses shalf be consistent with expensEs the
<br /> Owners would be responsible for under a building perrnit appllca�ion. The sscrow will also guarantee
<br /> re(mbursement io the Clty for a!I out�vf-packet costs the City lnas incurred to assur�that the worlc is completed in
<br /> accordance with tl��: Stormw�ter Pollution Prevention Pian and tho provlsions of Ordno Ctty Codc Chapter 79,
<br /> The flnancial securlty may also be used by the Clty to eliminate any I�a»rdous conditions associatcd with thE
<br /> work and tc� rapair�ny damage tn pubtic propert,y or infrastruciure that is caused by the work (fncluding planning,
<br /> engineering, or I�gtd consultant. rEview) associated wlth huildfng permit �2013-0�773 and znning #�13-3603 if
<br /> cnmpliance with the approved building permit is not accomplished,
<br /> 3. IVrL1NTHLY BILLINC, As the City receives consultant bifls for incurrdd costs, the City will In turn
<br /> send a bill to the Cwners, Owners shall be responsible far payment to khe City within 30 days of the Owncrs'
<br /> receipf of blll. �
<br /> 4, DISBUl2S�MI�PIT FRpM LSCR�W,ACCOUNT. In fihe evertt that the Owners do not make payment
<br /> to the City wlthln th�.� timeframe outlined in#3 above, shall issud a Stop Work arder until the Ownors pay al! expenses
<br /> invoiced pursuant tc,� �t3. The Ctty ���y draw from the oSOCow a�cautl't withoU! furlher �pprnval of the Ownors to
<br /> reimburse tne City fcr eligible e�renses the City has incurred.
<br /> 5, C��SING �SCROW. 7he F�alance on deposlf in the escrow, if any, shall be rckumed to the
<br /> Owners when tho r�:�riew has been completed �nd written notifie�tion is received firom the OWners rEquesting the
<br /> funds,
<br /> 6. CERTIFY UNPAtD CHAR��S. If tho projecl:is abandon�d by�wncrs, or if the ellglble exponses
<br /> incurred by the City exceed the amount in es�row, the Ci�� shall hav�the right to certify th�unpaid balance to the
<br /> subject property pu�-suant ta Minn. 5tat. §§�415.01 and �66.0'12.
<br /> CITY: CITY OF O . NO Q� �� . �
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