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d <br /> � BUlLDIPIG PERMIT ESCROIW AGREEIVlEIdT <br /> • . Orono Buiidln�P�rmit#2016-00351 <br /> AGREEMENT made this �� day of , 20� by and befi�reen the CITIf OF ORONO, <br /> a Minn�sota municipal corporetion (°City°)and Doug &Dlan Waldach{°Oarners"). <br /> Recital� <br /> 1. A building permi� appfication has been �led for replac�meMs of two decks and a lower deck <br /> addition focated at 4215 North Sho��Drive the(°Subject Property"}, legally desari'bed on Exhibit A,attach�ci.. <br /> 2. Owne�s request the Ci�r ta ceview this applicatlon. <br /> 3. The C�yy will commence its revfew of the application and incur costs associated witt� said revlew <br /> only i�the Owner eshablishes an escrow to ensure reimbursement to the Cliy of its t�sb. <br /> NOW THERE�ORE,THE PARTiES AGREE AS P�LLOWS: <br /> . 1. DEPOSIT OF ESGROVN FUNDS. Contemporaneously with the execufion of this Escrow <br /> Agreemer�t, the Ownsrs shall depos�$700 with the Cify. All ac.crued irrteres#, if any, shall � p�id #o the City to <br /> reimburse the City for its cost in administering the escrow acxount. <br /> 2. PURPOSE OF ESCROW.The purpose Qf the escrow is to guarantee reimbursement to th�City <br /> for ail out-of-pxket c�sts the City has incurred {including planning, engineer�ng, in ext�ss of $500, or legal <br /> +�nsuf�rrt revfew) ar wlll incur in reviewing the p�n. Eligibie expenses sha11 be c:onsistent with expenses �e <br /> Ownsrs vrould be responsible for under a building permit applica�on. The esarow will also guarantee <br /> relmbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in <br /> accordance with the Stormwater Pollution Preventlon Plan and the provisions of Orono Ctt�r Code Chapter 79. <br /> The financial security may also be used by the City to eliminate any hazardous conditlons associated with the <br /> work and to repafr any damage to public property or infrastruc�re that is caused by the work(including planning, <br /> engfneerirtg, or legal consultant revi�w) associated with buildin� permlt #20�i6-00351 if compliance w(th the <br /> approved building permit fs not acc�mpllshed. <br /> 3. MONTHLY BILLING. As the Cit�r receives consultant biils for 9ncurred costs, �e City wiil in turn <br /> send a bifl to the Owners. Owners shall be respansible for payment to tf�e City within 3Q days af the Qumers' <br /> �ipt of bill. <br /> 4. D18BURSEMENT FROM ESCROW ACCOUNT. tn the everrt that the Owners do not maice payment <br /> to the City wi�in�e�mefreme outilned in#3 ebove, shall issue a Stop Work Orcier untll the Owners pay all expenses <br /> irnroic,�d pursuant to #3. The City may draw from the escrow accaurrt wi�out further approval of the Owners to <br /> reimburse the C�far eligible expenses the Clty has fncurred. <br /> S. CLOSING ESCROW. The Batanc� on depos� tn the escrow, if any, shall be retumed to the <br /> Oamers when the review has been campleted and wriiten noti�catlon is received irom the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. lf the project is abandoned by Owners, or if the etlgfble expenses <br /> incurr� by the City exc�ed the amount in escrow,the City shall have the right to certify the unpaid balance to the <br /> subjeat property pursuant to Minn. Stat §§495.01 and 366.012. <br /> C[TY: CITY t?f ORONO O R: <br /> By: ��I'I V���Yh►� I���Si'�!`—�' , � <br /> �t�:� 111 l3 ' <br /> s����;+��,� �. rrv�,.� �����a����., . �.�►.�ri�c���..��:��+�kz�.���i <br />