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� I ..' , <br /> �1' <br /> BUILDI{dG PERMIT ESCROW AGREEMENT <br /> Orono Bultding Permit#2013-DO_ 5�7�_ <br /> Demotttion Permlt� 2013�pD�r� <br /> _.. 4 <br /> AGREBI�ENT made this 2� day of.�,��20,[�, by and between the CITY pF CRONO, <br /> a Mlnnesota municlpal c;orporation("Cliy")and Jotin&� arbat��Corrress{°Ownere'�. <br /> �t�cl�als <br /> 1. A bullding perm� appiic�a`�o��has been flied for derr`tolftion, CUP and �ew pr�nctpal stnu�ure <br /> ioceted at 439�North 8ho�DMve fhe(°SubJect ProRarty'),leg�ily descrfbed as Lots 3,4 and the west%of Lot <br /> 6,Saga Hill Revised,Hennepin Courrty AAinneso#a. <br /> 2. Owners request the Cftyy to review thls�ppltcatlon. <br /> ' 3. The C(ty will comrnence Its review of the appllc�tlon end incur cos� assoclated with sald revPew <br /> only If i�e Owner eatebUshes an escrow to Bnaure relmbureement to the CI�►of i#s coste. <br /> MOW THEI��QItE�THE PARTiEB AGREE AS FOLLOWS: <br /> 'I. DEpOSPT 01=. ESCROW FUNDS. Contemporeneous(y with the execu�on of this Eacrow <br /> Agr�ment,the Oume�s shall deposft$2,500 wlth the Ciry. AIi accrued intsrest, �sny,shal)be pald to the City to <br /> relmburse the Clty for tts cost ln adminlstering the esarcw acrAunk <br /> - 2. PURP08E OF ESCROW.The purpbse of th�e�crow fs to guarantee.reimbursement to the C�y <br /> for all out-af-pocket cxsts the City has incurred (including pianntng, engineer�ng� In excess of$600, or �al <br /> conaulRant r�viewj or will incur in revtewing the plan, Eliglbla expenees ahall be c�nslstent w(th expenses i�he <br /> , Owner� would be respansibts fvr under a buftding perm�t appl(�tlon. The escrow wl�l aiso guarant�se <br /> r�eimbur�sement to the City for all out-o�pocket costs the City has Incurred to assure t#�at the wo�k is completed tn <br /> accordancs wlth the Stormwaber Paliu�on Prevention Plan and ttae provislons of Orono Clry Code Chapter 79. <br /> '1'he flnancial securtty may,also be used by the Cfty to ellmina#e any hazardoue condtt(ons aasociaied vult}� itye <br /> work end to repair any darnage to pubfic property or Infiaatruature that is c�usad by the work pnoluding planning, <br /> engineerin , or i a nsultant reView) as ocl ted w(th bu(I�ling permlt #2093-00377; demoiltion pertnit <br /> � ---Zl���,-OC�'� .. and CUP d� - If oompllence with the approved 6ullding permit is not <br /> accomplfsfied. <br /> 3. M�NTHI.Y BIL.UN�. As the City receives consultant bilis for incu�ed�sts,the City will in turn <br /> send a btll ro the Owners. Qwners shall be reapanslble fcr payment to the City ww[thhin 30 days of�e Qvmere' <br /> receipt of blll. - . - <br /> 4. DISB!lRSEMENT FROM ESCRQW ACCOUNT. In the ever�that the �wnere qo not make paymertt <br /> ta the Cityr within the timeframe outlined in#3 al�ve,ehall Issue a Stop Work Orcler until the Owners pay ail ex nses <br /> pe es <br /> Envoiced pursuant to #3. The City mey dtaw from the esarow accour�t without fut�►er approval of fhe Owrtere to <br /> reimbur�e the City to�eligible expensea the Ci4y has incurrad. . <br /> 5. CLOSING BSCRUW. The Batance on �epoait In the eacrow, H'eny, shaii be retvrned to the <br /> Owners whsn the r�view has been completed and wii#en notlflcatian Is rec:eived from the Ownera requeating the <br /> , funds. <br /> 6. CERTIFY UNPAlD CWARGES. It the pr�Ject Is abandoned by Owners, or If the elig(b(e expenses <br /> incumad by the Cii�r exceed the amount in escrow,the C(ty shall have the right to cartlfy the unpaEd belance to the <br /> subject property purauar�to Mfnn. Stat§§41 b.01 and 386,012 �--� <br /> CI'I'Y: CITY OF ORONO + � f :'��"�� ��^ <br /> $Y� � '� �, ��rY'`��c ��.,5- <br /> � ��. , � r ... . . � . . - . <br /> s��� <br />