Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit# .�d l�-b t � 7� <br /> C. �i� <br /> AGREEMENT made this � day of !i. � �, 20� by and between the CITY OF ORONO, a <br /> Minnesota municipal corporation ("City") and_�;�T�-�, �( `�-j���/�r�i�1z�' _ ��f��.�-i._�("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for ��v�- located at <br /> ( /`__1 C-�c� I cGi � �,'�=;:: 2the ("Subject Property"), legally described as , Hennepin <br /> County Minnesota. <br /> 2. Owner requests the City to review this application. <br /> 3. The City will commence its review of the application and incur costs associated with said review only if the <br /> Owner establishes 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 Agreement, the <br /> Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to reimburse the City for its <br /> cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for all <br /> out-of-pocket costs the City has incurred (including planning, engineering, in excess of$500, or legal consuftant review)or <br /> will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for <br /> under a building permit application. The escrow will afso guarantee reimbursement to the City for all out-of-pocket costs <br /> the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan <br /> and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to eliminate any <br /> hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused <br /> by the work (including planning, engineering, or legal consultant review) associated with building permit <br /> # if compliance with the approved building permit is not accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a <br /> bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the <br /> City within the timeframe outlined in #3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced <br /> pursuant to #3. The City may draw from the escrow account without further approval of the Owners to reimburse the City for <br /> eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners <br /> when the review has been completed and written notification is received from the Owners requesting the funds. <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 subject <br /> property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY; CITY OF ORONO OWNER: <br /> , <br /> ` '����� ��.' �� � �E + \ /�� <br /> B i � � � �` <'ll�--�t' V ,�--.` <br /> Y� <br /> r=. <br /> � ``�I�.-� � <br /> �ts: ��{�l Y` 'L,a � <br /> Internal Use Only: 0 Original to Finance Department 0 Copy to Street File <br /> Packet Last Updated: 0329/13 <br /> Page 21 of 21 <br />