2016-00441 - escrow fee - Laserfiche WebLink

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' "--1 Bl11LDiNG PERMIT ESCRD AGREEMENT Orono Building Permit# O - QIM l:0lhi1 I�LS�c. A��pirCA, �- 1 V.3Y01 AGREEMENT made this 2b�'� da of i ,201�0 , by and befiaeen the CITY OF ORONO, a Minnesata municipal corporakion("City'} �G/' ("Owners`l. Recitafs 1. A building peRnit application , _ h s been fited a f.. located at ��"Subje�t Propeny°�, legalty described L.8 W 0(,{C 1' 2. Owners request the City to review this application. 3. The City witl cammence its review of the application and incur costs associated with said review onty it the Owrter establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF E8CROW FUNDS. Contemporaneously vvitfi tt� execufion of this Escrow Agreemerrt,the Owners shall deposit$2,500 with the City. All accrued interest, if a�y,shail 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 guarantee reimbursement to the City for aU out-of-pocket costs the City has incumed (including planning, enaineerinn. in excess of S50Q, or legal consuliant review) or wilt incur in reviewing the plan. Efigible expense,s sfiafl be consistent with expenses the Owners would be responsible for under a building permit application.Ti�escrow wi11 also guarantee reimbursement to the City far alt out-of-poGcet costs U�e City has incuRed to assure#�at the work is completed in accord8nce witl� the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79.The financial s�urity may also be used by the City to eliminate any haz�dous conditions assoc�ated v�ith tl�e work anct to repair any damage to public property or iMrastructure that is caused by the wark (including planning, engineering, or legat consultant review)associated with building permit�# o�IO/l0-DO�v�O if compliance wiih the approved building permit is not acxompiist�. 3. MONTHLY BILUNG. As the City receives co�suitarrt bilis for incurred costs,the Ciry will in tum send a bili to tl�e Owners. Oamers shall be responsibfe for payment to the City within 30 days ofthe Owners�receipt of bill. 4. DISBt1RSEMENT FROM ESC120W ACCOl1NT. In the event that the Owners do not make paymertt to the City arithi�ttie tir�frart�outlined in#3 abo�, sha11 issue a Stop work Order uMi�the Owr�rs�y all expenses imoiced pursuant to#F3. The Cliy rrray draw irom the escrow acc�unt without further approval of tfie Owr�ers to reimburse the City for eligible expenses the Ciry has incx�rred. 5. CLOSING ESCROW. The Balance on deposit in the escrow,if any,shall be retumed to the Owners when atl requirements related to the project are comptete. City Staff shatl review the terms of tl�is escxow agreement two times per year to detertnine wheU�er the requirements of the p%ject have be� successfully campleted and whether it is appropriate to reWm the turxls. Uvmer may a�so request the�elease of the#unds,and such funds shall be releas� upon City Staff receiving the appropriate verificati�that ah requir�rnents af the project have been successfulty completed. 6. CERTIFY UNPAiD GNARGES. tf the project is abandoned by Owners,or if the eligible expenses incurred by the C�y exceed the amount in escraw,the C+ty shaU have the right to certify the unpaid balance to the subject property pursuarrt to Minn.Stat.§§415.01 and 366.012. CITY: fTY OE ORrQl�iO OWHER: _, .-� �: � ►'� v _��_��" '� .- ��: 11f � �. �...,`,' � � In�ernal Use Only: O Original to Plaontng �CoPY��roPe�Y Owner G Copy tio St�et�ile tast Undated- Janua�v 2016