2016-01262 - escrow fee - Laserfiche WebLink

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BUILDING PERMIT ESCROV AGREEMENTb v Orono Building Permit� AGREEMENT made this�day of �i Ul , 20� by and between the CRY OF ORONO, a Minn�sota municipa{corporation{"City")ADAM V�ER�"i#A1-�fZ ("OwnersA). Recitats 1. A .. building pennit ap lication fias been filed a C �-� � located at �i� � �t�i ("Subject Property"), legally described �- c (1lLe 2. Owners request the City to review this apptication. 3. The City wip commenc�its review of the application and incur costs associated with said review only if the Owner establishes an escrow ta ensure reimbursemer�t to the Ciry of its c�sts. NOW THEREFORE,THE PARTIES AGRE�AS FOLLOWS: v 1. DEPOSIT OF ESCROW NDS. Contemporaneous�r with the execution af this Escrow Agreement,the Owners shall deposit$ , 00 with the City. All accn�ed interest, if any. shail be paid to the City to reimburse the City for its cost in adm stering the escrow acceunt. 2 PURPOSE OF ESCROW.The purpose of the escrow is to guarantee reimbursement to the City for aU out-of-pocicet costs the City has incurred (including pianning, enarineeNn�►. in exces ot S5p0, or legal consultant review) or wili incur in reviewing the plan. ENgible exper�ses shati be cansistent with expenses the Uwners would be respansible for under a building permit apptication.The escrow will also guarantee reimbursement to the City for all out-af-pocket costs the City has incurred to assure that the work is oompleted in accoMance wdh the Stormwater Pollution Prevention Ptan and the provisions of Orano Ci#y Code Chapter 79.The flna�cial security may also be used by the City to eliminate any hazardous conditrons associated with the work and to repair a�y damage to public p�operty or infrastructure that is caused by tt�e wo�lc {including pla�ing, engineering, o�legal cansukant review} associated with building permit �'�(�/(A„_ �„��_ if compliance with the approved building permit is nat accompiished. 3. M�NTHLY BILLING. As the City receives consu�ant bills for incuRed costs, the City will in#urn send a bilt to the Owne�. Owners shali be�espo�sibls for payment to the City within 30 days of the Owners'receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUN7. In the eveM tha!the Owners do not make psymenl to the City within the timeframe outljned in#3 above, shali issue a Stop Work Order un61 the Owners pay al{ expenses invoiced pursuant to#3. The City may draw from the escrow account without further approval of th�Owners ic reimbu�se the City for eligibie e�enses the Ciiy has i�cu�red. 5. CLOSING ESCROW. Tt►�8slance on deposit in the escrow,if any,shall be retumed to the Owne�s when all requirements related to the project are compiete. City Staff sha8 revi�w the term�of this escrow agreemetrt two times per year to detennine whether the requiremsnts of ihe project have been successfuUy campleted and whether it is appropriate to return the funds. Owne�may also request the release of the funds,and such funds shall be reteased upon City Staff receiving the appropriate verification that all requirements of the project have been successfully compfeted. 6. CERTIFY UPIPAID CFIARGES. If the project is abandoned by Owners,or if the eligible expenses incuned by the City sxceed the amount in escraw, the City shatl have the right to certify the unpaid balance to the subject property pursuant to Minn.Stat.§§415.Q1 and 366,Q12. CITY: CfTY OF RONO OWNER: By: ,�,�� /s��H��,� �� �ts: f'l��ti� IMemat Use Only: O Origlnsi to Pisnn{ng CI Copy b Ptopsrty Ownst D Copy to Strest Flle Last ilpdated: January 2d t 6