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LAND USE& BUILDING PERMIT APPLICATION ESCROW AGREEMENT <br /> Land Use Application #14-3655 <br /> Zoning Permit#2014-00506 <br /> Building Permit Numbers 2014-00505 8� 2014-00635 <br /> AGREEMENT made this �� day of G�(, , 2014, by and between the CITY OF ORONO, a <br /> Minnesota municipal corporation ("City") and Joe and Do Ile Feldmann ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application #14-3655 formally requesting the City to review plans for <br /> variances and permit numbers 2014-00505 and 2014-00506 for construction of a pool and retaining walls and <br /> permit #2014-00635 for construction of a deck and three-season porch located at the property addressed: <br /> 805 Forest Arms Lane (the "Subject Property") legally described as Lot 1, Block 2, Forest Arms, Hennepin <br /> County, Minnesota. <br /> 2. Owners request the City to review said plans which requires City approval and may require <br /> consulting legal and/or engineering review. <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Owners establish 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 $2500.00 with the City. All accrued interest, if any, shall be paid to the City <br /> to reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, or legal consultant review) or will <br /> incur in meeting with the Owners, reviewing the plans and permit applications, and review of application #14-3655 <br /> and Permit Numbers 2014-00505, 2014-00506 and 2014-00635. Eligible expenses shall be consistent with <br /> expenses the Owners would be responsible for under a land use application. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make <br /> payment to the City within the timeframe outlined in #3 above, shall cease all reviews until the Owners pay all <br /> expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the <br /> Owners to reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owners when the project has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn.�$tat. §§415.01 and 366.012. <br /> CITY: Y OF O ON OWNE <br /> � <br /> gy. By: : ��'�-�'�f� <br /> i <br /> Its: 'r�fs/llCai2��C.�NN "��2 Its: <br /> Internal Use Only: 0 Original to Finance Department 0 Copy to Zoning File C Gopy to Street File <br />