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. , <br /> BU1LC11�IG PERMIT ESCROW AGREEMENZ <br /> Qronp Buiiding Permit# ZA�$'��2`� <br /> ���EtylENT ma�se this�day of , 20�, by and between the CITY OF ORONO, <br /> a�,�--��-��-�-�..�a�^orpvration ('City")Steve&Angela Lisle ("Owners"). <br /> Recitals <br /> " k buiiding permit application has been file an addition locatsd at 3460 Bir�h Lane the("Subject <br /> �„�-r'�},�ega�fy described as S�A. • <br /> 2 Owners request the City to review this application. <br /> r, <br /> 3. The City will commence its review of the application and incur costs associated with said review <br /> oniy if the Owner establishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTfES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCR�W FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, ttte Owners shall deposit$2,500 with the City. Ail accrued interest, if any, shall be paid to the City to <br /> reimburse the City for i#s cost in administering the escrow account. <br /> Z. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for aN out�f-pocket costs the City has incurred (including planning, enqineerfnp, in excess of 5500, or legal <br /> consuftant 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 permi# 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 P�evention Plan and the provisions of Orono Ciry Code Chapter 79. <br /> The finencial 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 /> engir�eering, or legai consultant review) associated with building permit # 2�I5 -G01 Zq if <br /> complsance with the approved building perrnit is not accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred casts, the City will in turn <br /> se�� a bi!! to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> re�e�p�gf bill. <br /> I 4. DISBURSEMENT FROM ESCRQW AGCOUNT. In the event that the Owners do not make payment <br /> tg&�e Ciry within the timeftame outlined in#3 above, shall issue a Stop Work Order untit the Owners pay ail expenses <br /> in�rc�ceci pursuant to #3. The City may draw ftom the escrow account without further approval of the Owners to <br /> rei�#�;rse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed to the <br /> t>wn��s when all requirements related to the project are complste. City S#aff shall review the terms of this escrow <br /> �wr�ernent two times per yea� to determine whether the requirements of the project have been successfully <br /> �p#eted and whether it is appropriate to retum the funds. Owner may also request the release of the funds, <br /> aj-s� sact�funds shaA be released upon City Staff receiving the appropriate verification that all requirements of the <br /> �ro�ect have been successfully completed. <br /> 6. CERTIFY UNPAID CMARGES. IF the project is abandoned by Owners,or if the eligible expenses <br /> �^���red by the City exceed the amount in escrow, the City shall have the right to certify tl�e unpaid balance to the <br /> s;��;e�property pursuan#to Minn. Stat. §§415.01 and 366.012. <br /> CiTY: CITY OF ORONO OWNER• <br /> 4; C'h r�� N�t�-� <br /> .� r,�- <br /> ���: ������� ����� I <br /> ; �����,�� <br />