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2015-01569 - escrow fee
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2697 Ethel Avenue - 20-117-23-24-0045
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2015-01569 - escrow fee
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Last modified
8/22/2023 3:55:40 PM
Creation date
7/28/2016 2:20:55 PM
Metadata
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x Address Old
House Number
2697
Street Name
Ethel
Street Type
Avenue
Address
2697 Ethel Avenue
Document Type
Permits/Inspections
PIN
2011723240045
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� , . ��.� � <br /> BUILDING PERMIT ESCROW AGREEMENT � . � <br /> Orono Building Permit#2015 01786 ���� <br /> AGREEMENT made this��day of 'l.. , 201ti , by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation (°City") and Marc Cohen ("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for a second story addition located at 2697 Ethel <br /> Avenue the ("Subject Property"), legally described as Tracts D and E REGISTERED LAND SURVEY NO. 0115, <br /> Hennepin County. Minnesota, also that part of Tracts A, B and C described as beginning at the most southerly <br /> corner of Tract C thence northwesterly along the southwesterly line thereof 15 feet; thence northeasterly to the <br /> most northerly corner of Tract B: thence southeasterly to a point in northeasterly line of Tract A distant 5 feet <br /> southeasterly from the most northerly corner thereof thence southwesterly to a point in northwesterly line of Tract <br /> A distant 15 feet southerly from most northerly corner thereof, thence southwesterly to point of beginning. <br /> 2. Owners request 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 Owners 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 purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal <br /> consuttant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a building permit application.The escrow will also guarantee reimbursement <br /> to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with <br /> the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security <br /> may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any <br /> damage to public property or infrastructure that is caused by the work (including planning, engineering, or legal <br /> consultant review) associated with building permit#2015-01486 if compliance with the approved building permit <br /> is not accomplished. <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 bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to <br /> 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 reimburse <br /> the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners <br /> when the review has been completed and written notification is received from the Owners requesting the 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 366.012. <br /> GITY:�CITY O ORONO OWNER: � <br /> _._�:---�'._... <br /> /rY ��� <br /> gy: �~— �ti-1. ��-, <br /> __� <br /> its: <br /> Ir�ternal Use Oniy: �Origin�l to Pianning G Copy to Property Owner G Copy to Street Fite <br />
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