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DEMOLITION PERMIT 2012-04490 <br /> ES�ROW A(aREEMENT <br /> AGREEMENT made this � �'" day of ', � � r �< , 20 ! 1 , by and between the CITY OF ORONQ, a <br /> Minnesota municipal corporation ("City"} and l7�omas&Antionette McGlynn ("Owners"}. <br /> Recitals <br /> 1, An application for a demolition permit has been filed for an accessory structure located at <br /> 3980 Dahl Raad ("Subject Property") legally described on attached Exhibit"A". <br /> 2, In conjunction with the demolition erosion control measures are required as shown on attached <br /> Exhibit"B". <br /> NOW, THEREOFRE, THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS, Contemporaneously with the execution of this Escrow Agreement, <br /> the Owners shall deposit $2,000 with the City. All accrued interest, if any, shall be paid to the City to reimburse the <br /> City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for <br /> afl out-of-pocket co�ts {including planning, engineering, or legal consuEtant review)the City has incurred to assure that <br /> the erosion control measures are installed and maintained so the property complies with the provisions of Orono City <br /> Code Chapter 79. The financial security may alsa be used by the City #o eliminate any hazardous conditions <br /> associated with the work and to repair any damage to public property or infrastructure that is caused by the work. If <br /> compliance with the approved Land Disturbance Permit is not accomplished within the allowable time period, the City <br /> may bring the project into compliance by use of the security. <br /> ' 3. RIGHT OF ENTRY, The Owners hereby grant the City, its agents, employees, offlcers and <br /> contractors the right to enter the property to perForm all worlc and fnspections deemed approprlate by the Gity in <br /> conjunction with the required erosion control measures, including but not limited to constructing or completing any and <br /> all of the agreed upon improvements should the Owners' contractor nat complete those improvements by the date <br /> specified herein. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt <br /> of bifE. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment <br /> to the City within the timeframe 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 approval of the Owners to <br /> reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. Any remaining amount of the financia] security deposited with the City for <br /> faithful performance �f the plans and specifications and any related remediaf work will be released after th� <br /> completion and inspection of all such measures and the establishment of final stabilization for the Subject Property. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred b the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subjec ro rty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> � <br /> CITY:� CITY�pR � OWNERS: � �� ' `� ��� <br /> � % / � ;!� - - <br /> By: <br /> ' � r�� � , %i��'.�� .%/,�' �._ <br /> lts: �/ <br /> ��ergaCTl�c�-�n#�:_ __Q�r����:�.Rtnancx—I3��s��x�tre�t- — ��g�f��ir�c€�il-� _ - _ <br /> �--_ _ — --- --= � — �.___ _� Y�� ---� _— —— -- _ <br />