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, , � <br /> BUfLDING PERMIT ESCROW AGREEMENT <br /> Orono Buiiding Permit#2016-Od121, <br /> Demolitfon Permit#2015-07386 and Land Use#15-3787 <br /> AGREEMENT made this 25th day of February � 2p 16 , by and between the CITY OF ORONO, <br /> a Minnesota municipal corporafion(°City")and Jon Ressler("Owners"). <br /> Recitals <br /> 1. A building perm�t applicatian has been filed for an addition/remodel located at 3s83 North Shore <br /> Drive the("Subject Property"}, legally described on Exhibit A, attached. <br /> 2. Owners request tt�e City to review this application. <br /> 3. The City wiEl commence its review of the application and incur costs associated with said review <br /> onfy if the Owner establishes an escrow to ensure reimb�rsement to the City of its costs. <br /> NOW THEREFORE,THE PARTiES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shalf deposit$2,500 with the City. All accrued interest, Ef any, shall be paid to the City to <br /> reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal <br /> consultant review) or wil{ incur in reviewing the plan. Efigible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a building permit applica�on.The escrow will also guarantee reimbursement <br /> to the City for all out-of-pocket cosfis the City has incurred to assure that ttie work is comp(eted in accordance with <br /> the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79.The financial security <br /> may also be used by the City to eliminate any hazardous conditions associated with the work and to repait any <br /> damage to public property or infrastructure that is caused by the work {including planning, engineering, or legal <br /> consultant review)assaciated with building permit#2018-00121,#2015-01386 and#15-3767 if compliance with <br /> the approved building permit is not accomplished. <br /> 3. MOHTHLY BILLlNG. As the City receives consuttant bills for incurred costs, the City wiil in turn <br /> sencf a bilf to the Owners. Owners shall be�esponsible for payment to the City within 30 days of the Owners'receipt <br /> of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. {n the event that the Owners do not make payment to <br /> the City within the timeframe ouElined in #3 above, shall issue a Stop Work Order ur�ti! the Owners pay all expenses <br /> invoiced pursuant to#3. The City may draw from the escrow account without further approval of the Owners to reimburse <br /> the City for eligible expenses the City has incurred. <br /> S. CLQSfNG ESCROW. The Balance on deposit in the escrow, if any,shall be retumed ta the Owners <br /> when me review has been completed and written notification is received frorrt the Owners requesting the funds. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City sf�all have the right to csrtify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY OF O ; OWNER: <br /> By: �� �I(I.E� _ <br /> It,: 1��n�'�—s-=-' Jon G. Ressler <br /> ; N�mM tJw Unry: I G Ori�nrnil b�nntn�➢' ' D CoPY b Ropertf tiyvn�r �Capy ic�Irc�c FiM� <br /> i <br />