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TEMPORARY CERTIFICATE OF OCCUPANCY ESCROW AGREEMENT Orono Building Permit#2013-00364& Demolition Permit#2013-00362 AGREEMENT made this��day of , 20� by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and Doug as &Ann Englund ("Owners"). Recitats 1. Construction of the new residence located at 3884 Cherry Avenue the ("Subject Property"), legally described as Lot 16, Block 3, Crystal Bay View, and the easterly 1 /4 of Lot 17, Block 3, Crystal Bay View. The line dividing the westerly 3/4 from the easterly 1 /4 of said Lot 17 is hereby defined to be a line drawn from a point on the southerly line of said Lot 17 distant 15.00 feet westerly, measured along said southerly line, from the southeasterly corner of said Lot 17 to a point on the traverse line, as said line is hereinafter defined, 10 feet westerly, measured along said traverse line, from the East line of said Lot. As used herein the term "traverse line" is hereby defined as a line running from a point on the East line of said Lot distant 226.7 feet northerly of the southeast corner of said Lot to a point on the West line of said Lot distant 223.3 feet northerly of the Southwest corner of said Lot, Also, that part of the westerly 3/4 of Lot 17, Block 3, Crystal Bay View, lying southeasterly of the foliowing described line: Beginning at a point on the easterly line of said westerly 3/4 of Lot 17 distant 68.45 feet northerly from the southeasterly corner of said westerly 3/4 of Lot 17; thence southwesterly to a point on the southerly line of said Lot 17 distant 11 feet northwesterly, measured along said southerly line, from said southeasterly corner of the westerly 3/4 of Lot 17, and there ending. The line dividing the westerly 3/4 from the easterly 1 /4 of said Lot 17 is hereby defined to be a line drawn from a point on the southerly line of said Lot 17 distant 15.00 feet westerly, measured along said southerly line, from the southeasterly corner of said Lot 17 to a point on the traverse line, as said line is hereinafter defined, 10 feet westerly, measured along said traverse line, from the East line of said Lot is the subject of building permit application number 2013-00364 &demolition number 2013-00362 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. 155441