2015-00128 - escrow fee - Laserfiche WebLink

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I BUILQING PERMIT ESCROW AGREEMENZ {}rono Building Permit# ZO�$•��2`� ��.��i��VT^,a�e,nis�day of� , 20�, by and between the CITY OF ORONO, �� -.�- „�,�-cv��ration ('City')Steve&Angela Lisle ("Qwners"). Recitals ' ' ,�- :;�i(ding permit applicati�-has been file an additivn located at 3460 Birch Lane the("Subject � ��_�-.,� �� described as � Owners request the City to review this appiication. 3. The City wifl commence its review of the application and incur costs associated with said review .:^�y if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow ! Agreement. the Owners shall deposit$2,500 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. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for a!i out-of-pocket costs the City has incurred (including planning, enqineerinp, in excess of $500, or legal consu(tant review) or will incur in reviewing the plan. Eligible expenses shali be consistent with expenses the �wners would be responsible for under a building permit application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in acLoeciance with the Stormwater Pollution Prevention Plan and the pravisions of Orono City Code Chapter 79. Ti�e �€�ancial security may also be used by the City ta sliminate any hazardous conditions associated with the �v��a�d to repair any damage to public property or infrastructure that is caused by the work(includin planning, en��*�ee;ing. or legal consultant review) associated with building permit # 2015 ��701 t� if c,�a��ance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn se�a a t�ili ta the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' r�'�e��:�f bilf. I 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to t,�se City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses inv�sced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to re>�ffi;:rse the City for eligible expenses the City has incuRed. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed to the C�,��re-s when all requirements related to the project are complete. City Staff shall review the terms of this escrow a�reement two times per year to determine whether the requirements of the project have been successfuity ��^p�eted and whether it is appropriate to return the funds. Owner may also request the release of the funds, a^: such funds shalf be released upon City Staff receiving the appropriate verification that aU requirements of the ��s�e�have been successfully completed. fi. CERTIFY UNPAID CHARGES. if the project is abandoned by Owners,or if the eligible expenses ,^�::�� by ft�e Ctty exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the s��;�ts�tres��ty pursuant to Minn. Stat. §§415.01 and 3fi6.012. GtTY: GiTY OF pRONd OV1fNER- ��_�h�S� �� __ � r�f-- �er��tse�; a o�,��am�►� n c,�►y co��►o�,� c�c�y�s��