|
. � -
<br /> BUILDING PERMtT ESCROW AGREEMENT
<br /> Orono Suilding Permit#2011-00100
<br /> AGREEMENT made this "^�-��day of_,_�._� , 20,j�, by and between the CITY OF ORONO,
<br /> a Minnesota municipal corporation ("City°)and __ _ i'�ic��,e, L . �;�,�,-��-� �/N ("Owners").
<br /> Recitals
<br /> 1. A building pem►it application has been filed for construction a new resid�nce located at 120 Creek
<br /> Ridge Pass, the ("Subject Property"), legally described as Lot 3, Slock 1, Creekside in Orono, Hennepin County
<br /> Minnesota.
<br /> 2. Owners request the City to rQview this application.
<br /> 3. The City wiil com�lence i#� review of the application and incur costs associated with said review
<br /> only if the Owners establishes an escrow to ensure reimbursement to the City of its costs.
<br /> NOW THEREFORE,THE PARTIES AGREE A5 FOLLOWS:
<br /> 1. bEPQSIT OF ESCROW fUNDS. Ccua#�mporaneously with the execution of this Escruw
<br /> Agreement, the Owners shall deposit�2,500 with the City. Afl accrued interest, if�ny, shall be p�id to the City to
<br /> reimburse the City for its cost in administering the escrow�ccount,
<br /> �. PURPOSE OF ESCROW. The purpose af the escrpw is to guar,�ntee reimbursement to the City
<br /> for alt out-of-pocket aosts the City�as incurred (Includirtg ptanning, engineer{ng, in excess of $500, or legal
<br /> cansultant review} or wil! incur in reviewing the plan. �Ngible e�kpenses sha11 b� consistent with exp�nses the
<br /> Owi'�ers would be responsibte 1vr under a bui�ding permit application. The escrow will also guarantee
<br /> reimbursement to the City for all ouf-of-pocl4�f costs the City has �ncurred to assure i�at the vwork is completed in
<br /> accordanc:e with the Stormwater pollution Prevention Plan and the provisions of Orono �ity Code Ghapter 79.
<br /> The finar�cial secuc�r may also be Used by the City to elim�nate any hazardous co�ditu�tts associated with the
<br /> work and to re�ir a�y damage to pubfie propert�t or infrastructure that is caused by the work �inctuding planning,
<br /> engineering, or legal consuftant review) associated with building per�lt #2011-00100 if compliance with the
<br /> approved building permit is not accomplished.
<br /> 3. MONTHLY BILLING. As the City receives�consult�nt bitls for incurred costs, the City wiN in turn
<br /> send a bill to the Owners. Ownera shall be responsible for payment to the City within 30 days of the Owrrers'
<br /> receipt of bill.
<br /> 4. DISBURSEMENT P�tOM ESCROW ACCOUNT. In tfie evertt#hat the Owners do not make payment
<br /> to the City within the Umeframe 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 approvaJ of the Owners to
<br /> reimburse the City for eligible expenses the City has incurred.
<br /> 5. CLOSING ESCROW. The Balance on depasit in the escrow, if any, shall be retumed to tt'te
<br /> Owners when the review has been completed and written notification is received from the Owners �equtsting 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 366.0'!2.
<br /> CITY: CfTY OF ORONO OWNE •/" fp '
<br /> ���' `-.� :
<br /> , , . , , _._
<br /> , �
<br /> B ' � � ;� c_-�,�' -�,%
<br /> Y: ✓ Y-^ �,
<br /> � / ..-�. .
<br /> Its: 1��'.(�`C��;:'�
<br /> «$ _ , i_
<br /> �i.�+�![�.1�"!�'i�;��'�",._,.'��, _._.� . e�,���.�z: �* � '�`"�-:,+_-�^r �i� .
<br /> .�,.�.;, �.'°�� .., �� ��� �ee, .,,�r
<br /> . ,����a� �!:�.��.�,�r�`` . _..,. . .
<br />
|