2016-00401 - escrow fee - Laserfiche WebLink

Home Browse Search

� � BUILDING PERMIT ESCROW AGREEMENT Orono Building Permit#2016-00640 and Land Use Application#16-3830 AGREE ENT made this�� day of r`^ �� , 20�, by and between the CI OF ORONO, a Minnesota mu' ici al cor oration °Cit " and Eric Zehnder of Zehn r H " " P p ( y ) de omes, Inc. ( Applicant ),I Recitals 1. A building permit application has been filed for a new single family hom� at located at 1255 Dickenson Street the ("Subject Property"), legafly described: Lots 1 and 2, Block 15, MINNETONKA BLUFFS, and ac�jacent half of vacated alley, Hennepin County, Minnesota; aka PINS 02-117- 3 31 0027. 2. Applicant request the City to review this application. 3. The City will commence its review of the application and incur costs associated ith said review only if the Applic�nt establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFOI�E,THE PARTIES AGREE AS FOLLOWS: I 1. qEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution f this Escrow Agreement, the Applicant shall deposit $2,500 with the Ciry. All accrued interest, if any, shall be aid to the City to reimburse the �ity for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimburser�ent to the City for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal consultant review� or will incur in reviewing the plan. Eligible expenses shall be consistent wit expenses the Applicant would be responsible for under a building permit application. The escrow will Iso guarantee reimbursement to I,the City for all out-of-pocket costs the City has incurred to assure that the work s completed in accordance with 1�e Stormwater Pollution Prevention Plan and the provisions of Orono City Co e Chapter 79. The financial secy�rity may also be used by the City to eliminate any hazardous conditions asso iated with the work and to repai�any damage to public property or infrastructure that is caused by the work (incl ding planning, engineering, or le�al consultant review) associated with building permit#2016-00640 and land u e application #16-3830 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the Gity will in turn send a bill to the Applicant. Applicant shall be responsible for payment to the City within 3b days of the ApplicanYs receiptof bilL 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Applicant oes not make payment to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the A plicant pays all expenses invoiced pursuant to #3. The Ciry may draw from the escrow account without further pproval of the Applicant to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be r�turned to the Applicant when the review has been completed and written notification is received from the Applic�nt requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by the Applicant, orl if the eligible expenses incurred by the City exceed the amount in escrow, the �ity shall have the right to ce y the unpaid balance to the horriestead of Applicant at 4400 Bluebell Trail South, Medina, MN 55340 (PID No. 2-118-23-23- 0067 rsu t to I�linn. Stat. Sections 415.01 and 366.01. CITY: CI APPLICANT: By_ , Its: ..�„„_ v:,�„ : .. ,.w . - a� , _ . . �, � � : �� ._ � 9 a „�.. . _, z, � �'�� - �� ..�t �� . u= h , ��, . __ ��.�,. �,.�.. .. � �,y,� . �-� , . . �