2012-01231 - escrow fee - Laserfiche WebLink

Home Browse Search

e �- BUILDING PERM(T ESCROW AGREEMENT Permit#2012-01098 and DEMOLITION PERMIT ESCROW AGREEMENT Permit#2012-00552 AGREEMENT made this�day of 20�rby and between the CITY OF ORONO, a Minnesota municipal corporation(' ity')and Wendy Sullivan('Owners"). Recitals 1. A building permit appliqtion has been flled for a new principal structure located at 325 Crestview Avenue the ("Subject Propert�/'), {egally described as Lots 3, 4 and 5, Bbck 5, Bayside Addition to Lake Minnetonka,Hennepin County,Minnesota. 2. Owners request the City to review this application. 3. The Ciry will commence its review of the applicatlon and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOW3: 1. DEP031T OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement,the Owners shall deposit an additional$500 combined with the$2,000 previously deposited with the City for the demolition permit. The combined total hela in escrow by the City of Orono will then be$2,500. 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 Cfty for all out-of-pocket costs the City has incurred (inGuding planning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be oonsistent with expenses the Owners would be responsible for under a building permit application. The escrow will also guarantee reimbursement to the Ciry for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to eliminate any hazarcfous conditions associated with the worlc and to repair any damage to public property or infrastructure that is caused by the woric(including planning, engineering, or tegal consultant review) associated with building permit #2012-01098 and demolltlon permlt A2012-00552'rf compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs,the City will in tum send a bill to the Owners. Owners shall be responsible for payment to the Ciry within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the Clty wfthln the timeframe outlined in#3 above,shall issue a Stop Worlc Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. B. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners,or'rf the eligible expenses incurred by the City exceed the amount in escrow,the City shall have the right to certify the unpaid balance to the subject property pursuant to Minn.Stat.§§415.01 and 366.012. CI . ITY OF('�ONO ` OWNER: By, V�.% � Its: Inbmal Us�Ony: O Orqinal to Planniny O Copy to Property Own�r �Copy to Stn�t Flls