Laserfiche WebLink
` � BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2013-00786 <br /> AGREEMENT made this �day of ��� , 20� by and befinreen the CITY OF ORONO, <br /> a Minnesota municipal corporation `City") Katherine & Buddy Snow("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for a replacement of an existing deck and <br /> construction of a new deck addition and stairs located at 1150 Lyman Avenue the ("Subject Property"), legally <br /> described as Lot 2, Block 1, Wood End Acres, Hennepin County Minnesota. <br /> 2. Owners request the City to review this application. <br /> 3. The City will commence its review of the appiication 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 /> Agreeme�t, th� Owrrers shall deposit $70C with the City. All accrued interest, if any, shali be pai� to :h� City to <br /> reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose c I mbursement to the City <br /> for all out-of-pocket costs the City has incurred (includi I n �/f Q//}� Kcess of $500, or legal <br /> consultant review) or will incur in reviewing the plan. EI Lr��IV� Cyv' rl �tent with expenses the <br /> Owners would be responsible for under a building �w will also guarantee <br /> reimbursement to the City for all out-of-pocket costs the t �/ ��I � the work is completed in <br /> accordance with the Stormwater Pollution Prevention PI ` � City Code Chapter 79. <br /> The financial security may also be used by the City to ions associated with the <br /> work and to repair any damage to public property or infr� work (including planning, <br /> engineering, or legal consultant review) associated wit 6 if compliance with the <br /> approved building permit is not accomplished. <br /> 3. MONTHLY BILLING. As the City receives �����,.�.u,,, _..._ 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 City 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 �khen the review has heen completed and written notificati�n is received from the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY• CITY F ORONO OWNER: <br /> By: IVIJ �isv c� <br /> Its: <br /> Imemal Use Only: O Original to Pianning 0 Copy to Property Owner C!Capy tu Slxeet File <br />