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� � � TEMPORARY CERTIFICATE OF OCCUPANCY ESCROW AGREEMENT Orono Building Permit#2013-01293& Zoning Permit#2014-01276 AGREEMENT made this �'7 day of ��'�� , 20��by and between the CITY OF ORONO,a Minnesota municipal corporation("City")and Tony&Carrie Kuznik("Owners°). B@�l� 1. Construction of the new residence located at 1065 Linden Lane the ("Subject Property"), legally described as ParGel 1: Lots 6, 7, 8, and 9, °Linden Beach° together with the West one-half of vacated Linden Lane, accruing thereto, according to the plat fhereof on file or of necorr/in the office of the County Recorrier in and for said County;Parcel 2: That part of Lots 10, 11, and 12, `Linden Beach�described as follows:Beginning af the Southwest comer of Lot 90; thence East along fhe South line of said Lot 10, a distance of 84 feet,� thence Northwesteriy along a /ine, which wou/d intersect the North line of Lot 12 af a point 185 feet East of the Northwest comer of Lot 12 to a point which is 52 feet Southeasterly measured along said line from the North line of Low 12;thence West paraBel with the North line of Lot 12 to the West line of said Lot;thence Southeasferfy along the Westerly lines of Lots 12, 11, and 10, to the point of beginning, including one-half of Linden Lane, vacated, adjoining said Lots on the Wesferly boundary, and the vacated Linden Lane, in its entiiety, adjoining said Lot 10 on its South boundary, according to the map or p/at thereof on a file and of r+ecorrl in the office of the County Recorder in and for said County and State, Hennepin Counfy Minnesota, is the subject of building permit application number 2013-01293 has been completed. 2. Winter conditions currently prohibit completion of exterior improvements, final grading, and vegetation establishment. An as-built survey cannot be accurately conducted at this time. 3. Owners request the Ciry issue a temporary certificate of occupancy ("TCO") to the Owners so that the Owners may occupy the new residence. 4. The City will issue a TCO only if the Owners establish an escrow to ensure completion of exterior improvements, continuation of erosion control and submittal of an as-built survey to the City. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit an additional$7,500 (for a total escrow deposit of a10,000) with the City. All accrued interest, if any, shall be paid to the City to reimburse the City for its cost in administering the escrow account. . � 2. PURPOSE OF ESCROW. The purpose of the escrow is to assure completion of any exterior improvements, final grading, establishment of vegetation and submittal of an as-built survey to the City. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a building permit application. 155447