2016-01220 - escrow rolled from 16-3818 to bldg permit

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BUILDING PERMIT ESCROW AGREEMENT , Orono Building Permit#2016-00916 and , Land Use Application#16-3818 AGREEMENT made this a9�' day of .5-e,P�s»6-¢.�, 20�, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City")and Christopher& Leslie Neugent("Owners"). Recitals 1. A building permit application has been filed for additions and an accessory structure located at 710 Big Island the ("Subject Property"), legally described That part of Government Lot 6, Section 22, Township 117, Range 23 West, described as follows:Beginning at the intersection of the East line extended of Recreation Point (now vacated) with the shore of Lake Minnetonka;thence Westerly and Souther/y along the shore line of said lake, to its intersection with the Southerly line extended of Lot H, said addition, vacated; thence Southeasterly through a point marked with a judicial monument distanf 165 feet from the Southeast corner of said Lot H along the Southerly line thereof, to the Southeasf comer thereof, which corner is marked by judicial monument; thence Southeaster/y in a straight line to the Soufhwesterly corner of Lot T of said addition, vacated, which corner is marked by a judicial monument; thence Easteriy along the Southerly line of said Lot T to the judicial monument,; thence North along the East line of said addition, vacated, through a poinf marked with a judicial monument drstant 320 feet from said Southeasf comer of said Lot, to the point of beginning, Hennepin County Minnesota. 2. Owners request the City to review this application. 3. The City will commence its review of the application and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, if any, shal� be paid to the City to reimburse the City for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a building permit application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review) associated with building permit#2016-00916 and land use application #16-3818 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City within the timeframe outlined in #3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the subject property pursuant to Minn. Stat. §§415.01 and 366.012. .-� CITY: CITY OF RONO 01NNER: ' ° B , � Y� Its: �.� ,��.�� . „A.. � �`��'�;��;b .,.. . '�`�,. .... ��.#��'�'`�Ctspy Yd Property�?um�r C!Capy trs 5treet�iEe