2015-00258 - escrow fee - Laserfiche WebLink

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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 8 Carrie Kuznik("Owners"). Bs�ital$ 1. Construction of the new residence located at 1065 Linden Lane the("Subject Property"), legally described as Parcel 1: Lots 6, 7, 8, and 9, "Linden Beach" together with fhe West one-half of vacated Linden Lane, accruing thereto, according to the plat the�of on file or of record in the office of the County Reconier in and for said County;Pa�e/2: That part of Lots 10, 11, and 12, `Linden BeachN described as follows:Beginning af the Southwest comer of Lot 10; thence East along the South line of said Lot 10, a disfance oi 84 feet� thence Northweste►1y along a line, which would intersect the North line of Lot 12 at a point 185 feet East of the Northwest comer of Lot 12 to a point which is 52 feet SoutheasteNy measur�ed along said line from the North line of Low 12;thence Wesf parallel with the North line of Lot 12 to the West line of said Lot;thence Southeaste►1y along the Westerly lines of Lots 12, 19, and 10, to the point of beginning, including one-half of Linden Lane, vacated, adjoining said Lots on the Westerly boundary, and the vacafed Linden Lane, in its entirety, adjoining said Lot 10 on its South boundary, accoroling to the map or plat thereof on a file and of recorrl in the o�ce of the County Recorder in and for said County and State, Hennepin County 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 City 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 510,000) 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. 155441