2010-00926 (Escrow) - Laserfiche WebLink

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: , � BUtLDihlG PERMiT ESCROW AGREEMENT Clrono Building PermPt#2010-Ofl874 AGREEM�hlT niade this�--day of `�'�',�� . �_rr, ��,�t:.', by�r�d bet��veen the Cil'Y OF ORONU, 7��innescyt� n�unicipal carporation (..City„)and ��,,�,� �,,r.,.L��`�� 'ik��{��"` �„Owners"), �. Recitals 1. A buiiding permit application l�as been filed far an addition to the home I�cated at :'_?..~�t��';��`�c�~`_`t.�tl7e (:,Subject Pro�erty"�, i�gall�cJescribed as Lot 7, Ql�ck 1. Abingdr�n Gien, Henne�rin Cnunty Minne�ota. � 2. Owner requests th�Gity to r�view this c3pplication, 3. The City wil( commence its reviet�v af tlie appiication and ir�cur costs assaciated wiih saic� rPview c�nly if the Owner establishes an esc:row tc��risure re;imburs�;m�:ni to the City of its cosks. NOW 1'HEREFORE,THE PAR.1`ILS AGREE�S�OLLQ1tV5: 9. DEPOSET C7F ESCRC7W FUt�DS� Cor7lempora�ieausly with the exzcu#ian ofi this Escraw Rgreement: the Owners shail d�posit �?,5D£��r�iti� th� Gi�y. All accn��d interest, if any, shall be paid tc the City to reirnburse tlie City for its cost in administering the escrcw account. 2. PUF2pt?SE OF ESGi20'�JV. The purpose nf the escrow is ta guarantee r�lmbursement ko the City ior aii tiut-af-pocket costs tV7e City has incurred (ir�ciuding planning, engirieering, in excess of S500, or lega� cnnsultant revicw) or will irrcur in rr,viewi�g the plan. Eliqik�l� expenses stTaii be cansistEnt with expenses the OvJn�;rs r�vcauld ba responsible for und�r a building pe+�mit applic�tion, The eserov�� wili aiso guaranie� rein7bu�s�m�:r�t tc� the City For ail out-of-pocket costs fihe Git}�Y��as ineurr�d ta assure that the work is con�pleted in �t�c:car�lanc� with the Stormwater f�oliution Pr�veniic,n Plan and the provisinns of Oror7o City Code ChapYer 79. �i�� iri;�r�ci�1 ::�curity may also be used by tt7e City to elimi«a:e �ny hazardr�us eondjtions associated with the ��rt7rk ar�c)t�cr repait ariy d�n��ge to public prop�rty or infrastr��ctt�re tE��at�i�s caused tay the tivor�C (inciuding plani�iny, Enyin��ring, or legal consultant review) �s�ociated with builtfing permit 2U10-00874 if compfiance wiih th� appraved t-�urlding permit is noi accornplished. 3. MC3NTNLY BitLiNG. As the Ciry re�ei�es consultant bilis for incurred cosls. the City wili in turn sc5r�rl a bill to the Owners. O+�ners shall be responsibie for}�ay�nent to the Gity ��ithir� 30 days tif ti��e Oavners` re�eipt of bill. 4. dlSBUi2SEMEhIT FFtOM ESCFtOW ACCOUNT. In ttie event that the {Jwr�ers ci� i7at rr�aka payni�rit to th�� City ovithin the tirneframc;outlinec� in��i3�br�ve, shMall issu�:a Stop Work Order untiE tite Ownars pay ait �xpensc�s invoiced pursuant in n'3. The City rnray tfr�w frorri the escrqw acr,aur7i wikhnut further approval of thv� (.�wtiers to r�irttburse the City for�ligible expe[7s�s the City i7as ir�curred. 5. CL�SING ESCRC3W. Th� E�alance nn deposit in the escrow, if any, sli�ll t�� returneci to fhe Owners wl�en the review ha.; been completed and written notification is received from the Qwners requestint� khe: fur�ds. 6. CERTIFY UNPAID CHAi2GE5. lf the projaci is ab�ndaned by Owners, or if the efigible expenses ir7uurred by the C'sty exceed the amc�unt in escrow. the City sh�ll have tr�e right tc�certify the unpaid balance tc�t�e subject�raperty��rsuant to Minn. Stai. §�415.01 and 366.012. C#1`�f: CiT`t+J�t7RC7NCJ t)Wh�EF�� ��:--b��i!/�� , �/ - - ,is: (� C,Qe,r.�i �. ._.._.....— __..._. __ _ _ _.�__�___ — -- -- _ Inf�rnai tJse On1y: � �� CI C)'riginai,to�Finanae�}e}�arim�rrt �'�Ci Ctiapy to Street�ile � �___ _ _______ — '� a<,z..�.z-��;;,.��n,,��,»�;� _ _ . � .