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BUILDING PERMIT ESCROW AGREEMENT <br /> . Orono Building Permits #2011-00476 and 2011-00625 <br /> , Land Use Application #11-3524 <br /> AGREEMENT made this�day of , 20�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City")and Roger Remark ("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for two proposed additions located at <br /> 141 Chevy Chase Drive the ("Subject Prope�ty"), legally described as Lot 21, Block 1, Hill O' Way Manor, <br /> Hennepin County 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 FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $3,000 with the City. All accrued interest, if any, shall be <br /> paid to the City to 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 will 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 #s 2011-00476 8�2011-00625 and land <br /> use application #11-3524 if 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 City within the timeframe outlined in #3 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to <br /> reimburse the City for eligible expenses the Ciry 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: C TY OF RO OWNER: <br /> <<.._� �\ <br /> ` �_ � <br /> BY: \ n,,� �---- c_�..�_ <br /> � , <br /> , v <br /> �tS: <br /> Intemal Use Only: 0 Original to Planning 0 Copy to Property Owner �Copy to Street File <br />