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BUILDING PERMIT ESCROW AGREEMENT <br /> urono Buifdinq rermi"t��uil-uu9u�i <br /> AGQFG�A�AIT mur�lo 4�11S �L� �3y�Cf L, W1�LV '�(�1 t�- �iy N!lrl. �iofi��r�on tho �ITV �1C (1Qf1Afll <br /> a tilinnesota rnuniciaal corr�oration ("Citv"1 Steve ar-� Melissa Barnier ("Owners"1. <br /> Recital� <br /> 1. A building permit application has be2n filed for a principal st�ucture located at <br /> 2so5 Gienaaie Cove 'the ("�ubiect rroper'tV"), leqally described as Lo't y, Block 'i, Glendaie Cove, Hennepin <br /> Coutity t�iit?i�e�o[a. <br /> 2. Ovvners request the City to review this application. <br /> 3. I he C,'y ���dl c^mmence ItS revie�s�et th� c��^.FIlC321C^ �f',d if?CUf CCStS �uSSQ!';�[�d UJlth S�Iry f�VlB`,^.� <br /> pn��i jf tha Cl�qir�ar Pgtahlichac an acrrn�ni tn ang�,if? reimb!�rsement to the('it�i nf itc rpctg, <br /> ���ur ��rr�rr��r T��r r�ri+ w�r�rr wn r�� � ��un. <br /> T w r� <br /> IVVMV !i�zE-f�Cf._lJfci_i 1 fl['_ "/-1I�'i 1�['..� Hl')l4C.f:�. N:, 1..�/� �_L�VV:r. <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously v+rth the execution of this Escrow <br /> AyreetYtent, the Owners shall c�epusit$2,500 with ihe Ciiy. All acciued inieiest, if any, 5'riall be paiu io iiie City tu <br /> icii�ivuise tfte Ctiv Iiil Ii5 C;tiSi iil 'dOfllliil9LC(IIli3 �iiC cSi;�CiW BCCOUiII. <br /> 2. �URPOSE OF ESCROW. The purpose of the �scrow is to guarantee reirribursement to the City <br /> for ali out-oi-pocke't costs 'tne Citv has incurred Iincludinq planninq, enqineerinq, in excess oT $5uu, or ieqai <br /> rnnc�lt�r�t �P\fIP\N� nf \A�I!� !nCUf Ifl revie���ing th? r��fl. ��I�!D�? e?!penses ShH�� D2 CQ!?SlSt?f?t \N!TFl PYYPl1CPC ina <br /> n�M?Pf5 NJni_11�1 r1P �agrnngihla fnr 1_an('�Qf a huilcii�� �1P�lT�1t annlir_.�tinn. ThP PSrff1W WI�� a�$(1 ni_��rantPa <br /> reimbursement te the City for all out-of-poc!<et costs the City has incurred to assure that the Nrork is completed in <br /> ?rCnrri�nCe �Pnth th� St0((1'l.N�±�r Pn11iN4in� Drc�rcn4inn Pl�n �r�ri tF�c rvn�iicinnc nf (lrnnn (`i}�i (`nrJlc rh�Nfcr 7Q <br /> The financial security may aiso be used by ihe City to elirr�inate any hazardous conc�itions associated wiii� the <br /> v✓ork and to repair any udilla�C tG NU�iiIC �ifG�iCliy or infrastructure tl-�at iS CdUSc4' u'y'tha vvork (ii�ciuuiny p{a��nir�g, <br /> �n�inaeflR�: �� IPg21 consultant fevlew) c�ICSOCI�tPCj with b!!il�i►1g �?erm�t #2Qt2-fl09�J1 if ��mpli��r_.a with th� <br /> apr��p�!yri niJjirlinry ��P��mii ic nnt arrpmnliSherJ. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a biil to ihe Owners. uwners shali be responsibie 1or payment to 'the CitV within 3u aays of the uwners' <br /> receipt oi oiil. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment <br /> io 'the City within tne timefirame ouiiined in #3 aoove, shaii issue a Siop Work vrder until tne uwners pay aii expenses <br /> If1VUiG�U (.�LJiSlldll[ [ii ira. I(Ic �.ItV ITl"dy UCaVv ilGili if1E c3i;(�OYJ dCCUU(lt vriti}out furiher B�pfOVB� Gf iiie vVJiIE(S iii <br /> reimburse the City for eliqible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escraw, if any, shall be returned to the <br /> uwners when 'the review has been compieteci and written notification is received from the uwners requestinq tne <br /> +unCs _ <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eli�ible expenses <br /> incurred bv ihe City exceed 'tne amoun't in escrow, 'tne City shaif have the riqht to certifiy 'tne unpaia baiance to ihe <br /> SUC)�t'r3 �i(ri�iE+(Ty F)llISU�!flt t0 �Vllflll. Jtcil. ���4��.�J I etfll! Jt�O.�l I�_>. - - � <br /> CITY: I Y OF ORONO OWNER; <br /> �y � � �L ���.�-� ��_ <br /> �ts:� ��j�1�.2.,�.a�-���.�-� <br /> I internal Use Only: �C�riginal to Planning �Copy to Property Owner �G�py to Street File � <br /> I i <br />