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� BUILDING PERMIT ESCROW AGREEMENT <br /> „ Orono Building Permit# Z.D(S —D� 7 � � <br /> 11} <br /> AGREEMENT made this �S day of J`""�- , 20�s, by and. petween the CITY OF ORONO, a <br /> Minnesota municipal corporation ("City") and__�9 ickae Knt-1,��.e.n VoSS¢r� ("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for �� located at <br /> Z�S�_���t�,— D� y�,the ("Subject Property"), legally described as�(Q�C,3 (� P , Hennepin <br /> County Minr�esota. �� <br /> 2. Owner requests the City to review this appiication. <br /> 3. The City will commence its review of ihe application and incur costs associated with said review only if the <br /> 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 Agreement, the <br /> 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 <br /> cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for all <br /> out-of-pocket costs the City has incurred (including planning, engineering, in excess of$500, or legal consultant review)or <br /> will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for <br /> under a building permit application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs <br /> the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention P�an <br /> and the provisions of Orono City Code Chapter 79. The financial securiry may also be used by the City to eliminate any <br /> hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused <br /> by the work (incfuding planning, engineering, or fega! consultant review) associated with building permit <br /> #�r�l �,-{jOT7lo 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 send a <br /> bill to the Owners. Owners shalJ be responsible for payment to the City within 30 days of the Owners' receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the <br /> City within The timeframe outtined in #3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced <br /> pursuant to #3. The City may draw from the escrow account without further approval of the Owners to reimburse the City for <br /> eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners <br /> when the review has been completed and written notification is received from the Owners requesting the 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 subject <br /> property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY F OWNER: <br /> d'"`sT�� BE1H DELANEY SULLIVAN <br /> B pOW��, Notary Public <br /> y: A <br /> �.�y� � L � of Minnesota <br /> `I ;�� ��' My Commission Expires <br /> Its: u.�—�r--� ,•�• January 31, 2016 <br /> W�a�j Irc <br /> Intemal Use Only: riginal to F' ce Department O Copy to Street File <br /> Packet Last Updated. 0329/13 <br /> Page 21 of 21 <br />