Laserfiche WebLink
T�MPORARY CERT[FIGATE OF�CCUPANCY <br /> ESCROW AGREEMEN7 <br /> Orono Buitding Pe�mit#2013-01305 <br /> AGREEMENT made this�day af 1 ( 2D„� by and between the Cl'fY OF <br /> 4RON0, a Minnesot�municipai corporation{"City°)andaAf+Aiaaa-�ewer�.('Owners°). <br /> Recitafs V���� � `�y�� ����'I� <br /> � <br /> 1. Gonstruction of the new residence focated at �E37fi North Arm Drive the ("Subject <br /> Property"), legally described as Lots 15 8� 'f6, Block 8, Saga Hilf Revised in Orono, <br /> Nennepin County Minr�esota, is the subject of buifding permit appficatian number 2Q13- <br /> 01306 has been completed, <br /> 2. Winter conditions currentEy prpnibit Campletion of exteriQr imprvvements, finaE gfading, <br /> and vegetation establishment. An as-built survey cannot be accurately conducted at this <br /> time. <br /> 3. Owners requsst the City issue a Eemporary certifica;e of accupancy ("TCO") to the <br /> Owners so that the Owners may occupy the new res+dance. <br /> 4. The City wi11 issue a TCO only if the Qwners establish an escraw to ensure completion of <br /> exterior improvemenfs, confinu�tian of erosion contral and submittal of an as-built sur✓ey <br /> to the City. <br /> NOW THEREFORE,TH� PAR7IES AGREE AS F�LLOWS; <br /> 1. DEPOSIT O� ESCROW �UNDS. Contemporanea�sly with the executi�n of fhis Escrow <br /> Agreement, the Owners shall depasif $10,aQ0 with the City. A!I accrued interest, if any, shall be paid to <br /> tne City to reimburse tfie Gity for its cost in administering the escrow account. <br /> 2. PURPOSE UF E3CR�W. The purpose of the sscrow is to assure ;ompletion of any <br /> ex#erior improvemenfs, Pinal grading, establishmeni of vegetation as weli as guarantee reimbursement to <br /> the City far al1 out-of-pocket costs the City has incurred (including planning, engineering, in axcess of <br /> $500, or legal consulfartt revietiv) or wiil incur in reviewing the plan. Eligible expenses shall be consistent <br /> with expenses the Owners wou!d be responsiele for under a buildirg permit appiication. The escrow wifl <br /> aisa guarantee reimbursement to the City for all out-af-packet cos:s the City has incurred to assure that <br /> the work is compiated in accordance with the Stormwater Pollution Prev�ntian Plan and the pro�isions of <br /> Or�no City Code Chapter 79. The financiaE security ma� also be used by t�e Ci:y ta etiminate any <br /> hazardous conditions associated with the wa;lc and io repair any dar-�age to pu�lic pro�erty ar <br /> infrastructure that is caused by Ehe work (including planning, engineering, or legai consultant review) <br /> associated with buifding permit #2013-01306 if compiianc� with the apqroved building perrnit is not <br /> accomplis;�ed. <br /> 3. MONTHLY BILLING. As the City receives consuftan#bills for incurred costs, the City wil[ <br /> in turn send a biil to Fhe Gwners. Owners shail be respo�sible fo�payment to ihe City wifhin 30 days ofi <br /> the C3wners'recefpt of bill. <br /> a. DISBURSEMEPET FROM �SCROW ACCoUNT. ln fhe evenf that the Owners do nat make <br /> payment to the City within the timeframe outlined ir #3 above, shall issue a 51�p Work Order until the O�vners <br /> pay all expenses iRvoiced pursuant to#3. The City may draw from the escrow accouni withoui furthet approval <br /> of;he Gwners to reimburse the City for eligible expenses the Ci#y has incurred. <br /> 5. ClOSING E5CROW. 7he Balance on daposit in the escrow, i€any, shall be retumed ta <br /> the Owners when the review has been completed and written nofification is received f�om the Owners <br /> requesting the funcis. <br /> 15544t <br />