2012-00634 - escrow fee - Laserfiche WebLink

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, w BUILDING PERMIT ESCROW AGREEMENT Orono Butldfng Permit#2012-00554 AGREEMENT made this 3 � day of -�u�`� , 201a , by and between the CITY OF ORONO, a Minnesota municipal corporation ("City")and Michael Jones("Owners°). Recitals . 1. A building permit application has been filed for deck and stairs bcated at 3186 North Shore Drive the("Subject Property"), legally described on Exhibit A, attached. 2. Owners request the City to review this application. 3. The City wil! commence its review of the application 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. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit$2,500 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 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 Clty 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 aiso be used by the City to eliminate any hazardous condidons associated with the work and to repair any damage to public property or infrastructure that is caused by the work(including planning, engineering, or lega! consultant review) associated with bullding permlt #2012-04554 if coinpliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a bi11 to the Owners. Owners shatl be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DI3BUR3EMENT FROM E3CR�W ACCOUNT. In the event that the Owners do not make payment to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The Clty may draw from the escrow accourrt without further approva! of the Ovmers to relmburse the City for eligible expenses the City has lncurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed to the Owne�s when the review has been completed and written not�icatton ls received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses Incurred by the City exceed the amount In escrow, the City shall have the right to certify the unpaid balance to the subJe pursuant to Minn. Stat. §§415.01 and 366.012. . CITY: CITY RO OWNER: By: 1 � Its: ,