2009-00223 - new structure - Laserfiche WebLink

Home Browse Search

t BUILDING PERMIT ESCROW AGREEMENT AGREEMENT made this�day of , 20�, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and Heath Julie Farwell ("Owner"). Recitals 1. Building permit applications have been filed for a new principal structure and lakeshore stairs with retaining walls located at 2933 Casco Point Road the ("Subject Property"), as more fully shown and described on Exhibit"A"attached hereto. 2. Owner requests 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: � � � �--� �-��e r��c:, 1. DEPOS{T OF ESCR�W FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owner shali deposit 00 with the Ciry. 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 City for all out-of-pocket costs the City has incurred (inctuding ptanning, engineering, in excess of $500, or legal consultant review} or will incur in reviewing the ptan. Eligible expenses shall be consistent with expenses the Owner would be responsible for under a building permit appfrca6on. The escraw will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the wark is completed in accordance with the Stormwater Polfution Prevention Plan and the provisions of Orano City Code Chapter 79. The financial security may also be used by the City to efiminate 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 permits#2009-00223 and #2009-00381. If compfiance with the appraved buiiding permit is not accom�ished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred c�osts, the City wiil in tum send a bill to the Owner. Owner shall be responsible for payment to the City within 30 days of the Owners receipt of bill. 4. DISBURSEMENT FROM ESCROW ACGOUNT. tn the event that the Owner daes nQt rrrake payment to the City within the timeframe autfined in#3 abave,the City may draw from the escrow account vaithout further approval of the Owner to reirnburse the City far Efigibie expenses the City has incurred_ The Cityr shall notify the Owner the Owner of such draw and the nature of the expense for which the reimbursement is being made. If the Escrow amount falls beiaw 75% of the ariginal escrow amount the Owner shall deposit additional sums as directed by the City, or the City shall discontinue review and post a Stop Work Order. 4. CLt}SiNG ESCROVIf. Tf�e Batance on depcasit in ti�e escmuv, if any, shat� be retumed to the Owner when the reviear has been oarrepieted and written rsc:tification is recerved from fhe Qrrrr�er cequesting t� funds. 5. CERTIFY UNPAID CHARGES. !f ths project is abandoned by Owner, or if the eligible expenses in�urred by tt�e City exceed the amount in escrow, the City shaii ha�e the right to certify the unpaid bafance tQ the subject y pursuant to Minn. Stat. §§415.01 and 366.012. �� CITY: CtT F QIMNELGt. ,� By: �Y� Its: � C C� z By:�