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� <br /> BUfLDiNG PERMIT ESCROW AGREElUIENT <br /> . Orono Buliding Pem�it#2016-00351 <br /> ' AGREEMENT made this �� day of , 20,�, by and betv�reen the CITY OF ORONO, <br /> a Minnesota municipal corporation ("Clt�+a)and Doug&Dian Walda�h(°Oarners°) <br /> Reci�ai� <br /> 1. A building perm� applica�on has be�n flled for r�piacements of iwo decks and a lower deck <br /> addition located at 4216 North Shor�e Drive the(°Subject Property"), legally described on Exhibit A,attached.. <br /> 2. Ou+me�s request the C�tyy to r�sview this application. <br /> 3. The Ci�r wrill cflmmence its review of the application and incur� assvciated avith said revt�w <br /> only�the Owner establishes an escrow to ensure reimbur��nent ta the City of Its c�sb. <br /> NfJW THEREPORE,THE PARTIES SGREE AS FOLLCIWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemparen�usty with the execu�on of this Escrow <br /> Agreemerrt, the Owners shall deposit$7�0 with the City. All accrued interest, if any, shall be paid to the City to <br /> re9mburse the Ciiy for its cast in administering the escrow aa�unt. <br /> 2. PURPOSE OF ESCROW.The purpase of the escrow is to guarantee reimbursement to the City <br /> fo� ail out-of-pocket c�sts the Cit�+ has incurre�d (including planning, enginee�ng, in excess of $500, or legal <br /> cQnsuftant review) or vv11{ Incur In reviewing the plan. Eligible expenses shafl be c�ns(stent with expen�es tl�e <br /> Owners vrauld ba responsible for under a building permit applic��lon. The escrow will alsa guarantee <br /> reimbursement to the City for all out-of-pocket costs the Clty has Ina�ned to assure that the work is completed in <br /> acxordance with the Storrrnnrater PoNution Prevention Plan and the provislons of Orono City Code Chapter 79. <br /> The financial security may also be used by the City to eliminate any hazardous oonditions associsted with the <br /> work and to repair any damage to public property or infrastruc�re that is caused by the work(including planning, <br /> engineering, or legal consultant review) associated with buflding permlt #2076-00357 if compliance writh the <br /> approved building permft is not acxomplished. <br /> S. MONTHLY BfLLING. As the City receives consultant bills for incurred c�sts, the Cfly will in turn <br /> send a bi{I ta the Owners. Owne�s shall be responsib{e for payinent to the Cfty within 30 days af the Ovmers' <br /> �eceipt of bilt. <br /> 4. DfSBURSEMENT FROM ESCROW ACCOUNT. In the everrt that the Owners do not make�yment <br /> to the City within the�imeframe oudined in#;i ebove, sha[I issue a Stop Work Orsier un�l the Owners pay all sx�nses <br /> invoiced pursuarrt to #3. The City may draw fram the escrow accourrt wit�out further approval af the Owners to <br /> reimburse the Clty for eNgible e�senses the City has incurred. <br /> S. CLOSING ESCROW. The Batance on deposit fn the escrow, if any� shall be retumed to the <br /> Ovmers tivhen the review has been c:ompleted and uuritten notiflcation is rec:elved irom the Owners requesting�e <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. If tFte project is abandoned by Owners,or�the efigfble expenses <br /> incur� by t�e Cit�r exceed the amount in escrow,the City shall have the right to certif�+the unpaid balant�Eo the <br /> subJect property pursuant to Mlnn. Stat §§495.41 and 366.012. <br /> CITY: CITY OF ORONO O R: <br /> Sy: \��� ry'��N�1'V—' ^ � �� <br /> lts: n� � ` <br /> �' _ <� . <br /> , <br /> h 6 ,::� h <br /> t�at;t�#�9 4;r1��'. . ,w�r,,�� .�. ;�iw�i�a�n�8. .;>, �.�.�3?Pi't4�r�tt�;sl��., n�'7+�e�t"�O�lS�� <br />