Laserfiche WebLink
BUILDINO PERMIT ESCROW AGREEMEIdT <br /> Orono Building Permit#2073-004fi1 <br /> Demalitlon Permit#2013�A0429 <br /> At3REEMENT made this�7,_(Q day of �-1 r�� . 20,� by and between the CITY OF ORONO, <br /> a Minnesota municipai c�orporafion (°City°) Bradiey A Cleveland Trust�(°Owners°j. <br /> Recit�ais <br /> 1. A demoNtlon permit applicatlon and a buildfng permit applicadon have b8en filed far demoli�on of <br /> the principal struc�ure and two (2)accessory structures and construc�on of a new principal structure and one(1) <br /> acxessory sirUcture {acated at 4315 North Shore Drive the (°Subject Property°), legally descriDed in Exhibit A, j <br /> attached. <br /> 2. Owners request the Cttyy to review thi�application. <br /> 3. The City will commence i� reviear af the applica�on and incur c�sts associated with said rsview <br /> onty if the Owner establishes an escrow to ensure r�eimbursement to the City of its costs. <br /> PIOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporan�usiy with the exectrtion of this Escrow <br /> �reement,the Owners shall depos�$2,500 with the City. All arxn�ed Interest, if any, shall be paid to the City to � <br /> reimburse the City for its cost in administering the escrow acxount � <br /> 2. PURPOSE OF E8CROW.The purpose of the escrow is to guarantee reimbursement to the City � <br /> for all out�f-pocket c�sts the Cit�r has incurred (including ptanning, engineering, in excpss of $50d, or legal � <br /> consulbnt review) or vvill incur in revie�aufng the plan. EUgible expenses shall be consistent wi� expenses the <br /> Owners would be responsiWe for under a building permit application. The eacrow mrif[ atso guarantee <br /> retmburseme�t to the City for all out-af-pocket costs the City has incurred to assure that the work�s campleted in <br /> accordanc�vvith the Stomiwater Pollution Prevention Plan and �e provisions of�rono Cit�r Code Chapter 79. <br /> The flnancial securlty may alsa be used by the City to eliminate any hazardous cflnd�ions associated with the <br /> work and to repair any damage to public property or infrastruature that Is caused by the wark(i�duding pfanning, <br /> engineering, or legat consultant review) associated with demolitlon permit�2043-0�29 and buiiding penr�it <br /> #2Q13-00471 if compliance wtth the approved building�mit is not acxompi'�shed. <br /> 3. MONTHLY BILLING. As the City receives con�ultant bills for incii�ed costs, the City wrill in tum <br /> send a bill fo t#�e Owners. Owners shall be responsibie for paymen#to the Cit�+vvithin 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. in the everrt that fhe Ovmers do not make peyment <br /> to the City within the timefreme out�ined in#3 above, shaA i5sue a Stop Work Order untll the Owrners pay all expenses <br /> invoic�d pursuant to #3. The City may draw from the escrow accourd without further approval of the Owmers t� � <br /> relmburse the City�ior eligible expenses the Cit�r h�as(ncurred. <br /> 5. CLOSI(dG ESCROW. The Balance on deposit in the escrow, if any, shall be retumed to the <br /> Ovmers when the review has been compisted and written notifica�on is rec.elved ftom the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNP�►ID CHSRGES. If the project is abandoned by Owmers,or if the eligible expenses <br /> incurred by the City exc�ed the amount in escrowr,the City shatt have the r�ght to certify the unpaid bafance to the <br /> subject property pursuant to Minn. Stat§§415.01 and 366.012. <br /> CITY: C1F ORONO OWNE <br /> � By: 1�h� UI� �- <br /> ��: <br />