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' ' -J <br /> BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2011-00041 <br /> AGREEMENT made this 3 � day of , 20 ��, by and between the�CITY OF ORONO, <br /> a Minnesota municipal corporation ("City") and David Rudow L�'S�-�� �7K1n1r�L '�''�°�" ("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 /> County Minnesota. <br /> 2. Owner requests the City to review this application. <br /> 3. Tl�e Git�r wi�4 tbm�ence�ts rev'tew o##he applicatsc3n a�d inc�t��osts assoaated snrith said rsview <br /> only if the 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 <br /> Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to <br /> reir�bur�fh��#y f�r�cos#in�s�a�i�t�r�g�sscro�ascour�t. <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 /> co�su{tant revievv) or arill irtcur ict revfeu�i�g the plan. Eligib(e expenses shal! be consistertt v�ith expenses the <br /> Owners would be responsible for under a building permit application. The escrow will afso 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 eTiminate any hazardous 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�a�complished. <br /> 3. MONTHLY BILLING. As the City receives consuttant 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 /> receipt of biH. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In 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 fu►ther approval of the Owners to <br /> reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> L)�vners when the review has been compfeted and written nofification is received from#he Owners requesting 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 /> CITY: CiTY flF{3RflN0 . �WNE(�` ;'�? <br /> �.—.-__ <br /> , __: �� <br /> ,� � _�: � <br /> 1 y <br /> By: '. �"td.t <br /> �iJ. � ' ��V�.�\�L �..��V` ..... . - . <br /> Internal Use Only: q Original to Finance Department �Copy#o Street File <br />