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BUILDING PERMIT ESCROW AGREEMENT \ Land Use Application # l�'3�1� � �3"� ��`� Building Permits: #2012-00976,#2012-00978&#2012-00980 AGREEMENT made this�_day of S2►��.2.P—�r, 2013, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and Nancy Bigos ("Owner"). Recitals 1. Owner has filed Building Permit Application numbers #2012-00976, #2012-00978 & #2012- 0098o and Land Use (Variance) Application #�� "'��yformally requesting the City to review plans for an in- ground pool, pool house and entrance monuments located at 3350 Fox Street(the"Subject Property") legally described as Lot 4, Block 1, Fullerton Estates, Hennepin County, Minnesota. 2. Owner requests the City to review said plans which requires City approval including engineering and legal review. 3. The City is willing to 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 Owner shall deposit $2,500 with the City. All accrued interest, if any, shall 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 Owner 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 permits #2012-00976, #2012-00978 8 #2012- 00980 & land use application# 2�� if compliance with the approved building permits 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 Owner's receipt of a bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not make payment to the City within the timeframe outlined in #3 above, shall cease all reviews until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owner 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 Owner when the review has been completed. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, 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: TY OF O�O OWNER: ,' �_ �- �t�� .�. /�/�� 4 ..�i� / �'//�. l �� j By: y: , / Its: �--� .� c...� c� � . � r �:\u-- By: Internal Use Only:, _ G Original to Finance Department G Copy to Zoning File G Copy.to,Street File