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• BUILDING PERMIT ESCROW AGREEMENT / <br /> Orono Building Permit#2009-00911 <br /> AGREEMENT made this 2� day of�����1���� 2Q�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and Richard & Leesa Anderson ("Owner"). <br /> Recita Is <br /> 1. Building permit applications have been filed for an addition located at 3205 Crvstal Bav Road the <br /> ("Subject Property"), legally described as Attached as Exhibit A. <br /> 2. Owner requests the City to review this application. <br /> 3. The City will commence its review of the application and incur costs associated with said review <br /> only if the 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 <br /> Agreement, the Owner shall deposit $2,500 with the City. All accrued interest, if any, shall be paid to the City to <br /> reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purn��� of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City ha� �- , iing planning, engineering, in excess of $500, or legal <br /> consultant review or wili ��- <br /> ) �� �m ligible expenses shall be consistent with expenses the <br /> Owner wo����' ` ���7t�� �ermit application. The escrow will also guarantee <br /> reimburs� /'-`,�n� � `� � r rp��/ ��� ity has incurred to assure that the work is completed in <br /> accordan�o���`� �l'� �u ��� � ,`�� n and the provisions of Orono City Code Chapter 79. <br /> The finan� ,�`� minate any hazardous conditions associated with the <br /> work and i� ��� •ucture that is caused by the work (including planning, <br /> engineerinc �,`` uilding permit #2009-00911 if compliance with the <br /> approved b� � z <br /> 3• �� onsultant bills for incurred costs, the City will in turn <br /> send a bill to � � ent to the City within 30 days of the Owner's receipt <br /> of bill. ^e'� / <br /> `v <br /> � � � IT. In the event that the Owner does not make <br /> 4. G'� r i i � '/ <br /> payment to the � �-� �-� 1 `�� !e City may draw from the escrow account without <br /> further approva �� ��_��..�'� expenses the City has incurred. The City shall <br /> notify the Owne ��� ";(�`'�, `- ' � ex ense for which the reimbursement is bein <br /> p g <br /> made. If the Es ,, � ���� :row amount the Owner shall deposit additional <br /> sums as directed �,{\;��.� __� nd post a Stop Work Order. <br /> / <br /> 4. C �1� ��'��( � the escrow, if any, shall be returned to the <br /> Owner when the r �:_�" 'i �n is received from the Owner requesting the <br /> funds. ` <br /> ;� �� � <br /> 5. CEI `--� �doned by Owner, or if the eligible expenses <br /> incurred by the City , the right to certify the unpaid balance to the <br /> subject property purs <br /> CITY: CITY OF Q.RO =R; <br /> By. ( �� � By:_F���lS1SZ�ClI � Sl � 9_�Y� <br /> 1�,- <br /> Its: ��vv Uv.�i� . „ �J-�c�. By: <br /> I Internal Use Only: 0 Original to Finance Department 0 Copy to Street File <br />