2011-00370 - escrow fee - Laserfiche WebLink

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BUIL�lNG PERM{T ESCROW AGREEMENT Orono Building Permit#2011-00318 AGREEMENT made ihis�day of , 20 /� by and between the GITY OP ORONO, a Minnesota municipal corparation(`Cit�t')and Andy and amie Pfelfer,Owne�s°}. Recltats 1. A building permit application has been fited for a new rasidence located at 915 Creek Ridge Pass, the("Subject Propert�'),iegally described as Lot 2, Block 1,Creekside in Orono, Hennepin Caunty Minnesota. 2. Owners request the City to review this applica#ion. 3. The City will commence its raview of the applicafion and incur costs associated with said retiew only if the Owner estabfishes an escrow to ensure reimburserrtenf to the City of its costs. N�W THEREFORE,THE PAR7lES AGREE AS�OLtOWS: 1. DEPOSIT OF ESCROW FUNdS. CoMemparaneously with the execution of fhis Escrow Agreement,fhe Owners shal(deposit$2,500 with the Gity. Atl accrued interest, if any,shatl be paid to the Ciry io reimburse the City for its cost in administering the escrow account. 2. PURPaSE OF ESCROW. The purpose af the sscrow is to guarantes reimbursement to the City for all out-of-pocket costs the City has incurred (inciuding planning, enginesring, in excess of $5(1Q, or legal �nsultant �eview) or will incur in reviewing the plan. Eligible expensss shafl be corTsis#ent with expenses the Owners woutd be responsible for under a building permft application. The escrow wlli also guarantee reimbursement to the Clty for alf out-of-packet costs the City has incurred to assure that the work is comple#ed in accordance with the Storrnwater Pollution Preventian Pian and the provisions of Ocono City Code Chapter 79, The financial se�urity may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to pub[ic property or infrastruGure that is caused by the work (including planning, engineering, or legal consultant review) associated with building permit #2011-00318 if compliance with the approved building permit is not accompiished. 3. MONTHLY 81LLING. As the City receives consultant bills for incu�red costs, the City will in turn send a bill to the Owners. Owners shall be responsible for paymen# to the City wfthin 30 days of the Owners' receipt of biff. 4. DISBURSEMENT FROM ESCROW AGCOUNT. fn the evenf that the Owners do not make payment to the City wittun the fimeframe outlined in#3 above,sha11 issue a Stop Work Order until the Owners pay ati expenses invoiced pursuani #o #3. The City may draw from the escraw account without turther approval of the Owners to reimburse the City for eligible expenses the City has incurred. b. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned #o the Owners when the review has been compteted and written�otifica#ion is received from the Owners requesting the funds. 6. CERTlFY UNPAID CHARGES. If tMe pro}ect is abandoned by Owners,or if the sligible expenses incurred e C�ty exc�ed the amoun#in escrow,the City shal!have the right to certify the unpaid balance to the subject prv y pursuan#to Minn.Stat.§§415A1 and 3S6.fl12. �� CITY: Cl O O OYU _ �� `. By: �ts: '- � c�, k-i �i�u�C.oC, �'�. __ �,..._ _: _�. �: _,_ -� _ _ �iiteri�al 1Jse l9ply: : - �I��ia�q�#g =-..� �1�QpY ta Property�wrter .__:'=�t1�cipy�a:S#raet F11.e