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. ✓ <br /> BUILDING PERMiT ESCROW AGREEMENT <br /> Oro�o Building Permit#201400085 <br /> AGREEMENT made this 1�day of 1' 20�, by and between the CITY OF ORONO, <br /> a Minnesota municlpal corporation("Ciry")James Van Riems ("Owners"). <br /> Recitals <br /> 1. A buiiding pe�mit applicatfon has been flled for a Ca�riage House located at 2856 North Shon <br /> D�ive the("Subject Property"), legally desc�ibed as That part of Government Lot 4,Sectlon 9,Township 117,Range <br /> 23, desr.ribed as foilows: Commencing at the North quarter corner of�aid section; thence on a bearing ot 3outh 0 <br /> degrees�minutes 00 seconds East(the North line of tl�e Northeast Quarter of said sectlon being aesumed to have a <br /> bearing of South 88�ees 51 minutes 00 seconds East for purposes of this desalption)a distanae of 2878.55 feet; <br /> thence South 70 degrees 37 minutes 31 seconds East a distance of 838.42 feet to the point af beginning of the <br /> properly being described; thence South 67 degrees 19 minutes 23 seconds Ea�t a distance of 268.25 feet; tl�ence <br /> South 32 degrees 16 minutes 30 seconds West a distanc�of 380 feet,more o�less,to the shore of Lake Minnetonka; <br /> thence westerly along said shore to its intersectlon with a Ilne drawn on a bearing of South 23 degrees 15 minutes 29 <br /> seconds West from the poiM of beginning; thence North 23 degrees 15 minutes 29 seoonds East a distance of 393 <br /> feet,more or less,to the point of beginning. <br /> 2. Owners request the City to review thfs appiication. <br /> 3. The City wfll commence its review of the application and incur costs associated with sald review <br /> only if the Owner establishes an escrow to ensure reimbursement to the Cfty of Its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneousiy with the executlon of thls Eecrow <br /> Agreement, the Owners shall deposit$2,500 wlth the City. All accrued intereat, if any, shail be pald to the City to <br /> �eimburse the City for its cost in administering the esc�ow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the esc�ow is to guarantee reimbursement to the City <br /> for ali out-of-pocket costs the City has incuRed (including planning, engineering, in excess of $600, or legai <br /> consultant review) or will incur in reviewing the p1an. Eligible expenses shall be conslatent wlth expenses the <br /> Owners would be responsibie for under a building pertnit application. The escrow will also guarantee <br /> reimbursement to the City for ali out-of-pxket costs the City has incurred to assure that the work is completed in <br /> acconiance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 78. <br /> The financial security may also � used by the City to eliminate any hazardous conditions associated with the <br /> work and to repair any damage to public property or infrastnicture that is caused by the work(including planning, <br /> engineering, or legal c�nsultant review) associated with building permit #201400085 if complianoe with the <br /> approved building permit is not accomplished. <br /> 3. MONTHLY BILLiNG. As the City receives consultant bills for incurred coats, the City wili in tum <br /> send a bill to the Owners. Owners shall be responsible for payment to the City withln 30 days oi the Owners' <br /> receipt of bili. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In tha event that the Owners do not make paymeni <br /> to the Ci1y within the timeframe ouUined in#3 ebove,sFrell Issue a Stop Work Order untll the Ownera pay ell expenaes <br /> invoiced pursuant to #3. The City may draw from the escrow account without furthar approval oi the Ownere 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, shetl be retumed to the <br /> Owners when the review has been compteted and written nottficatfon is received from the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. ff the project is abandoned by Owners,or ff the eligible expenses <br /> incuRed by the City exceed the amount in escrow, the City shail have the right to certify the unpaid balance to the <br /> subject property pursuant to AAinn. Stat.§§415.01 and 368.012. <br /> C1TY: .I OF RONO NER: <br /> r <br /> By. <br /> Its: � <br /> �� .,� ,..t � .,� x . �., �� <br /> - � � � - � s �.� _°-� � <br /> �t±�n_�IaC�w4. .�C .�, . .�� tn._ §��'��n11�0� : .�°� RW�f:� ��4wI�`-�,.���.3���1�°� <br />