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. � ✓ <br /> BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2014-00411 and#2015-00647 <br /> AGREEMENT made this.� �- day of ��£"t `� � , 20 r�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City")Jonathan&Amy Miller("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for an entry addition located at 2980 Casco Point <br /> Road the("Subject Property"), legally described as Tract B, Registered Land Survey No. 1423, Hennepin County <br /> Minnesota. <br /> 2. Owners request the City to review this application. <br /> 3. The City will commence its review of the application and incur costs associated with said review <br /> only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUtVDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $700 with the City. All accrued interest, if any, shall be paid to the City to <br /> reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal <br /> consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a building permit application. The escrow wil! also guarantee <br /> reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in <br /> accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. <br /> The financial security may also be used by the City to eliminate any hazardous conditions associated with the <br /> work and to repair any damage to public property or infrastructure that is caused by the work (including planning, <br /> engineering, or legal consultant review) associated with building permit #2014-00411 and #2015-00647 if <br /> compliance with the approved building permit is not accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment <br /> to the Ciry within the fimeframe outlined in#3 above, shall issue a S#op Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The Ci#y may draw from the escrow account without #urther approval of the Owners to <br /> reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returnEd to the <br /> Owners when the review has been completed and written notification is received from the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: T OF O ONO OWNER: --- - — -_J� <br /> _ _ _ . <br /> � <br /> BY� '" � �...__._.�___�.. <br /> Its: � <br /> Intemal Usa Only: O Origina!to Pianning 0 Copy to Proper#y Owner G Copy to Street Flle <br />