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Ju1-16-2013 08:14 AM HCMC 612-904-4567 1/1 BU1LbING p�RM�1T 2013-00308 � �SCROW AGR�EM�NY rL r AGREEM�HT made this�day of '��' ,2013, by and between the CI7Y OF ORONO, a Minnesota munlclpal carporatlon("Clty")and Charles Truw t and Paula Plcard ("Owners"). ReCital6 1. � An applfcatlon for a Buflding PermEt has been flled for the property located at 1105 Ferndale Road West and legelly descrlhed as:7ract A, RLS No.441, �11es of the Aeglatrar of Titiem, Couniy of Hpnnopin, axcept that part embraced In RI,S No. 902, Flles ot the Regfstrar of Titlos, 7racts A and C, Reglstered Land Survey No. 902, Flles of the Aeglatrar of 7ltles, Coun3y of Hennepfn (hereinafter the "SubJect Property"). 2. In conJunctlon wlth the constructlon of the new resldence and assocfated grading and floodplsin alterations, eroslon control measuros ar� requlrad as ahown Qn the approved Grading and 8ullding Plans relating to Bullding Permlt 2013•00308. NQW,THEREOFRE,TH�PARTI�3 AGp�E AS FOLLOWS: 1. DEPOSIT OF ESGROW FUNDS. Gontemparaneously wfth the execution of thls Escrow Agreement, tha Owners shall deposit�5,000.00 with the Clty. All accrued interest, lf any,shall be paid tv the City to reimburse the Clty for Its cost In adminlstering the esorow accaunt. 2. PUAPOSE OF �SCAOW, The purpose oi the escrow Is ro guarantee relmbursement to the City for all out-of-pocket aosts (includfng plannfng, engineering,or legal consultant revlew)the Clty has lnourred to assure that the erosfon contrpl measure5 are installed and malntalned so the Sub�ect Properry complles with the provlslons of Orono Clty Cade Chapter 79. The flnancial &ecurity may also be used by the Clty to eliminate any hazardous conditions asaoclated wlth the work and to repair any damage to public property or Infraetructure that la caused by the work. 1f compliance with the approved Bullding Permlt Is not accomplished wfthfn the allowahle tlme perlod,the Clty may bring the proJect Into compflance by use of the securiq�. 3. RIGHT OF ENTRY. The OwneCs hereby grsnt the City,lts agents,employees>office�s and contractors the rlght#o enter the SubJect Property to perform all work and lnspectione deemed approprlete by the Clty fn conJunction wlth the required erasian control measures, Including but not Amlted to constructing or completing any and a(! of the egreed upon Improvements should the Ownars' contractor not complete those improvements by the date specified herein, 3. MONTHLY BlLL1NG. Ae the Clty recefves consuitant bills for inourred aosts,the City will in turn send a blll to the Owners. Owners sha11 be responsible far payment to the Clty wfthln�0 days of the Owners'recelpt of bifl. 4. DIS�UFISEMENT FROM ESCROW ACCOUNT. In the event that the Owners do nat meke payment to the City within the#imafram�vutlined ln#3 above, shall iasue s Siop Work Order until the Owners pay all expanses Involced pursuant to �F3. Tha City may draw from the escrow account without further spproval of the Owners to reimburse the Clty for ellgfble expenses the City has incurred, 5. Cl,OS1NG ESCROW. Any remalninp amount of the financlal security deposlted wlth the Clty for falthful performance of the plans snd speciflcat(ons and any related remedlai work will be released after the completion end Inap�ation of all such measures and the establishment of flnai 5tabiflzatfon for the 9ubJect Property. 6. CERTIFY UNPAID CHARG�S, lf the proJect is abandoned by Owners, or if the eligible axpense& Incurred by the Clty exceed the emount fn escrow, the Clty shall have the right to oertify the unpaid balance to the SubJact Property pursuant to Minn.8tat.§§415,01 and 366.012. CITY: CITY OF QRQNO OWN�I� sy: o�I l� fts; � lnternal Usa Only: G orlglnai to Finance Department G Copy to 8treet F11e