Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
_......__ . . _ _..__ __ _ __ _____ _ . ___ _...._.._ _ _ __. <br /> BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permif#2012-00070 <br /> AGREEMENT made this�day of f�3 , 20�, by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation("City")and 'Sksa���/.tic �prnc✓' ("Owners"). <br /> R c' als <br /> 1. A building pertnit application has been filed for a building permit for a new home located at 75 <br /> Leaf Street, the ("Subject Property"), legally described as Lot 1 Block 3 Graham Hilf Preserve, Hennepin County <br /> Minnesota. <br /> 2. Owners request the City to review this application. <br /> 3. The City will commence its review of the application and incur costs associated with said review <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 accnaed interest, if any,shall be paid to the City to <br /> reimburse the City for its cost in administering the escrow account. <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 /> consuftant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a building permit application. The escrow will also guaraMee <br /> reimbursement Eo 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 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 #2012-00070 if compliance with the <br /> approved building permit is not accompfished. <br /> 3. MONTHLY BILLING. As the City receives consultant 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 bill. <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 further approval of the Owners to <br /> reimburse the Ciiy 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 /> Owners when the review has been completed and written notification is received from the Owners requesfing the <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners,or if the eligible expenses <br /> incu e City exceed the amount in escrow,the City shall have the right to certify the unpaid balance to the <br /> subj ct pro y inn.Stat.§§415.01 and 366.012. <br /> CITY: C O OWNER: <br /> BY <br /> Its: <br /> I <br /> i,iptemal�llse�n�Y��a_.__.__z?.�fl�nginal��Plannm9_._�_._�3 CoPY:to�'�roperty Owner�, �..,��opy�o`Street�Flle <br />