2014-00142 - escrow fee - Laserfiche WebLink

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4 � � BUILDING PERMIT ESCROW AGREEMENT Orono Building Permit#201400085 AGREEMENT made this� O day of 1" , 20,�, by and between the CITY OF ORONO, a Minnesota municipal corporation("City")James Van Riems ("Owners"). Racitals 1. A building permit application has been flled for a Carriage House located at 2656 North Shora Drfve the("Subject Property"), legally described as That part of Government Lot 4,Section 9,Townshfp 117,Range 23, desc,�ibed as fotlovus: Commencing at the North quarter corner of-said section; thence on a bearing of South 0 degrees 00 minutes 00 seconds East(the North line of the Northe�t Qua�ter of said sedion being assumed to have a bearing of South 88 degrees 51 minutes 00 seconds Eest for purposes of this description)a distance of 2878.55 feet; then� South 70 degrees 37 minutes 31 seconds East a distance of 838.42 feet to the point of beginning of the property being describ�; thence South 67 degrees 19 minutes 23 seconds E�t a distance of 286.25 feet; thence South 32 degrees 16 minutes 30 seconds West a distance of 380 feet,more or less,to the shore of Lake Minnetonka; thence westerly along said shore to its intersectlon wfth a Iine drewn on a bearing of South 23 degrees 15 minutes 29 seconds West from the point of beginning; thence North 23 degrees 15 minutes 28 sec�nds East a distance of 383 feet,more or less,to the point of beginning. 2. Owners request the City to review this application. 3. The City will commence its review of the applfcation and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneousiy w(th the execution of this Escrow Agreement, the Owners shail deposit$2,500 with the City. All accrued interest, if any, shall be pald 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 all out-of-pocket costs the City has incur�ed (including planning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the pian. Eligible expenses shall be conslstent wlth expenses the Owners would be responsible for under a building permit application. The escrow will also guarantee �eimbursement to the City for a11 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 Cfty 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 legai consuitant review) associated with buiiding permit #201400085 if compliance wlth the approved building permit ls not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be responsible for payment to the Ctty within 30 days of the Owners' �eceipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City withfn the timeframe ouUined In#3 ebove, shell issue a Stop Work Order untll the Owners pey ail expenses invoiced pursuant to #3. The City may draw from the escrow eccount without further approvel of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners,or if the eligfble expenses incurred by the City exceed the amount in escrow, the City shall have the right to csrtify the unpaid balance to the subject property pursuant to Minn. Stat.§§415.01 and 366.012. CITY: OF RONO O NER: t� By: its: � Int�nal.�lse;On� : O�Oiigfnal to:Planning 0 CoRY°to Prap�rtY'Owoer 'EltCppy.�to,�t{`F�