2016-00193 - escrow fee - Laserfiche WebLink

Home Browse Search

1 ♦ � TEMPORARY CERTIFICATE OF OCCUPANCY ESCROW AGREEMENT Orono Building Permit#2015-00014 and Pool Permit#2015-00564 AGREEMENT made this 25th day of February , 2016 , by and between the CITY OF ORONO, a Minnesota municipal corporation ("Cit�')and Steve 8�Stacia Andersen ("Owners"). Recitals 1. Construction of the new residence located at 517 Ferndale Road North the ("Subject Property"), legally described as That part of the North Half of fhe Southeast Quarter of the Northeast Quarter of Section 36, Township 118 North, Range 23 West of the 5th Principa/Meridian, described as follows: Beginning at a point in the South /ine of said North Ha/f of the Southeast Quarter of fhe Northeast Quarter, disfant 211 feet East of the Southwest corner thereof; thence East a/ong said South line 330 feet; thence at a right ang/e North 344.5 feet; thence at a right angle West to an rntersection with a /ine running from a poinf in the South line of said North Half of the Soufheast Quarter of the Northeast Quarter, distant 391 feef East of the Southwest corner thereof, to a point distant 675 feef South of fhe North line and 830.75 feet Wesf of the East line of Government Lot 3 in said section, said last described line being hereinafter designated and referred to as "Line A'; fhence Northerly a/ong said "Line A" fo a point 200 feet south of the North line of said North Ha/f of fhe Southeast Quarter of the Northeast Quarter; thence West paralle/ with the North line of said North Ha/f of the Southeast Quarter of the Northeast Quarter to an intersection with a line drawn norther/y from the point of beginning and paralle/with aforesaid "Line A'; thence southerly a/ong/asf said parallel line to the poinf of beginning in Orono, Hennepin County Minnesota, is the subject of building permit application number 2015-00014 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 Ciry. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement,the Owners shall deposit$10,000 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 as well as guarantee reimbursement to the City for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of$500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a building permit application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security may also be used by the City to eliminate any hazardous conditions associated with the work and to repair any damage to public property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review) associated with building permit#2015- 00014 if compliance with the approved building permit is not accomplished. 155441