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w : ' + BUILDING PERMIT ESCROW AGREEMENT Orono Building Permit#2015-00928 AGREEMENT made this�day of �a �� , 20_, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City")and Timothy Koehler("Owners°). Recitals 1. A building permit application has been filed for a deck and screen porch below located at 4205 North Shore Drive the ("Subject Property"), legally described as That part of Lot 2 "Orchard Beach", lying Southeaster�y of the following described line and its Northeasterly extension; Commencing at the Northeast comer of Lot 3, "Orchard Beach°;thence on an assumed bearing of North along the Northerly extension of the East line of said Lot 3 a distance of 78.92 fee� thence on a bearing of West a distance of 89.50 feet to the point of beginning of the line l�ing described;thence South 31 degree 56 minutes 53 seconds West to the southwesterly line of said Lot 2 and there ending. Subject to the easement for County State Aid Highway No. 19 as shown in Hennepin County Highway Plat No. 50 r�ordetl as CR Doc.No.4746024. Subject to a perpetual easement for underground utility purposes in favor of the City of Orono as contain� in CR Doc. No. 3925296. 2. Owners request the City to review this application. 3. The City will 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 $700 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 City 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 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 legal consultant review) associated with building permit #2015-00928 if compliance 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 bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW 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 City may draw from the escrow account without further approval 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 retumed to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. Page 1 of 2