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TUE/1�/OCT/2012 1�� 33 AM VITAL IMAGE5 FAX No. 952-487-9510 P. 001/001
<br /> � pEMOL1T10N PERMIT.2012�00986
<br /> and
<br /> LAND USE ApPLICATION 72-3540
<br /> ESCROW AGREEMENT
<br /> AGREEMENT made this �� day of VG � , 20 �2' by and between the CITY OF ORONO, a
<br /> Minnesota municipal corporation ("City")and C arles Truwit and Paula Picard ('Owne�s").
<br /> i1�ls
<br /> 1. An applicstlon for a demolition permit has been filQd for the pnnapel structure located at
<br /> 1105 FQrndale Road West (°Subjeat Property") legally descrlbed as TraCt A, RI.S No. 441, Flles Df the ReAlStfaf of
<br /> Tltles, County of Hennepin, except that part embraced in RLS No. 902, Flles of the Registrar of Titles, 7�acts A and C,
<br /> F�egistered Land Survey No, 902, Flles of the Registrar of Titles, County of Hennapin,
<br /> .2. In conJunction with the deinvlltlon, erosion control measures are required asshown on attached �Xhlblt .
<br /> � �q».
<br /> NOW,TH�REOFRE,THE PART1�9 AGREE AS FOLLOWS: .
<br /> - - - �1. flEPOS1T OF-ESCRDW FUNDS. Contemporar�eously with the�execution of this �scrow Agreement, -
<br /> tha Owners shall deposit$2,500 with the City. All accrued lnterest, if any, shall be pafd to'the Clty to reimbursp th? Giiy
<br /> far it�cvzt In sdminist�ring the escrow account.
<br /> :2. PURPOSE OF E3CROW. The purpose of the escrvw is to guarantee reimbursement to tha City for all
<br /> out-of-pocket costs (ncluding planning, engineering, or legal consultant review)the City has lncurred to assure that the
<br /> erosion control measures are installed and maintained so the property complies with the provisions of Orono City Coda
<br /> Chapter 79. The financial securlty may also be used by the City to eliminate ariy hazardous condltlons associated with
<br /> the work and to repair any damage to publlc property or tnf�astructura tnat is caused by the work. If complian�e with the
<br /> approvetl Land Distu�bance Permit is not accomplished within-the allvwable tlme period,theCity may bring tho proJcet
<br /> lnto compllance by use of the securlty.
<br /> a, RfGWT OF ENTRY. The Owners hereby grant the Clty, its egent5, employees,officers 9nd CAnt�eCtofS
<br /> the rlght to enter the property to pertorm all work and Inspectlons deemed approprlate by the City in conjunction with the
<br /> required eroslon control measures,I�eluding but not limited to constructing or completing any and all of the agreed upon
<br /> Improvements should the Owners' contractor not complete those improvement�by the date specified herein.
<br /> '3. MONTHLY BILLING. As the City receives consultant bllls for incurred costs, the City wi�� in turn sena .
<br /> a bill to the Owners. Owners shall be responsible for payment to the Clty within 30 days of the Owners' recelpt of bi11.
<br /> 4, DISBURSEMENT FROM ESCROW ACCOUNT. In the ev�nt that the Owners dc �ot make payment
<br /> to the City within the tlmefreme outlined in#3 above, shall issue a Stop Worlt Order until the Owners pay all expenses
<br /> invoiced pursuant to#3, The Clty may draw from the escrow account without furthar approval of the Owners to
<br /> reimburse the Clty for eligible expenses the City has incurred.
<br /> 6. CLOSING ESCROW. Any remafning amount of the financiaf securlty deposited with the City�for
<br /> faithful performance of the plans and speclfications and any related remedial work will be released after the completlon
<br /> and inspection of all such measures and the establlshment oi ilnal stabilP�aUon�for the Subjecl Property.
<br /> 6, CERTIFY UNPAID CHARC3ES. If the projact is abandoned by OwnerE, or if•th� ellglbfe expenses
<br /> incurred by the City exceod thc amount in esc�ow, the Clty ahall have the right to cerHfy Ihe unpaid balance to the
<br /> subject property pursuant to Minn. Stat.§§415.01 and 366.012.
<br /> CITY• Il'Y�F�RONO OWNER
<br /> ay:
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