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� . <br /> BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2011-00041 <br /> AGREEMENT made this 3 � day of�a�ti-t' 20 ��, by and between the�CITY OF ORONO, <br /> a Minnesota municipal corporation ("City°) and David Rudow L'�-�� ��p�✓�G- �-'�ti^' ("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for construction of a new residence located at 3380 <br /> Graham Hill Road, the ("Subject Property"), legally described as Lot 5, Block 2, Graham Hill Preserve, Hennepin <br /> Gounty Minnesota. <br /> 2. Owner requests the City to review this application. <br /> 3. Tt�e C�ty vaill tbrn���its review of##�e a�{�l+�a#io�a�d i�r�r cQsts associated avith said�eview <br /> only if the Owner estabiishes 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$2,500 with the City. All accrued interest, if any, shall be paid to the City to <br /> reimburs�#�Gi#y for i#�cc�s#�n admir�isi€rang#��es�r�w a���. <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, in excess of $500, or legal <br /> cc�nsu�tant revlew) of wilk ir►c�tr in reviearirtg tlze plan. E{igit�ie expenses shall be consistent wittt expenses ttte <br /> Owners would be responsible for under a buiiding permit appfication. The escrow wifl also guarantee <br /> reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in <br /> accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. <br /> The financial security may also be used by the City to eliminate any fiazardous conditions associated with the <br /> work and to repair any damage to public property or infrastructure that is caused by the work (including planning, <br /> engineering, or legal consultant review) associated with building permit #2011-00041 if compliance with the <br /> appraved building permit is�o�accomplished. <br /> 3. MONTHLY BILLING. As the City receives consuftant 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 /> receip#of bild. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. fn the event that the Owners do not make payment <br /> to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Ow�ers tD <br /> reimburse the City for eligib{e 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#he review has tieen comple#ed and written notification is received from the Owners req�esfing the <br /> 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 <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> Ci�Y: CiTY OF ORfli�iO , flVlf�Pi�f�€�. __ ..`,( �--� <br /> . __. __ <br /> : �,. � , <br /> By: � ' "��.u. � <br /> Its: 1-' �J �.v�.�.�L��,s: <br /> tnternal Use Only;' G Original to Finance Department G Copy to StreetFile <br />