Escrow agreement-2013/2014 - Laserfiche WebLink

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A . ,L BUILDING PERMIT ESCROW AGREEMENT Orono Buliding Permit#2013-00471 Demolition Permit#2013-00429 Pool Permit#2014-00826 Land Use Appllcation#14-3680 AGREEMENT made this�day of ��s� , 20(�, by and between the CITY OF ORONa, a Minnesota municipai corporation ("City")Bradley A.�st Dated 10-10-08("Owners"). Recitals 1. A demolition permit apptication and a building permit application have been fiied for demolition of the principal structure and two (2) accessory structures and construction of a new principal structure, one (1) accessory structure and in-ground pool located at 4315 North Shore Drlve the ("Subject Property"), legally described In Exhibit A, attached. 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 estabiishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AaREE AS FOL.LOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall depos[t$2,500 with the City. All accrued interest, if any, shall be paid to the City to reimburse the Ciry for its cost in administering the escrow account. 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the Clty 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 CiEy for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance w(th 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 demolltlon permit #2013-00429, bullding permit #2013-00471, poo! permlt 2014-00826 and land use applicatlon #14�680 If compliance with the approved building permit is not accomplished. 3. MONTHLY BtLLING. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. Owners shall be resp�nsible for payment to the Clty 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 fn#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 Clty for eliglble expenses the City has incurred, 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completed and written notification is 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 subject property pursuant to Minn. Stat.§§415.01 and 366.012, CITY: OF ONO OWNER: Sy: ►`�J �tS: Bradley A. Cleveland