Laserfiche WebLink
� �` <br /> BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2010-01195 <br /> AGREEME(dT made this�day of �� , 201°, by and between the CITY OF OROIdO, <br /> a Minnesota municipal corporation ("City")and C�n,�:, � o �� 7�rv+^-� ("Owners"). <br /> Recitals <br /> 1. A building permit application has been filed for a new residence located at 4415 North Shore <br /> Drive,the("Subject Propert�'), legally described as attached as"Exhibit A°. <br /> 2. Owner requests the City to review this application. <br /> 3. The City will commence its review of the application and incur costs associated with said review <br /> only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOW3: <br /> 1. DEPOSIT OF ESCROW FUWDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to <br /> reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal <br /> consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a building permit application. The escrow will also guarantee <br /> reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is aompleted in <br /> accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono C'rty Code Chapter 79. <br /> The financial security may also be used by the City to eliminate any hazardous conditions associated writh the <br /> work and to repair any damage to public property or infrastructure that is caused by the work(including planning, <br /> engineering, or legal consultant review) associated with building permit #2010-01195 if compliance with the <br /> approved building permit is not accomplished. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment <br /> to the City within the timeframe outlined in#3 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to <br /> reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed to the <br /> Owners when the review has been completed and written notification is received from the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subject pr rty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY F OWNER: <br /> � .�— <br /> By: — ; l�o l ��,.�....-� <br /> its: c �", <br /> � <br /> , ._._ __- _ �_� � _, _ ,� <br /> ,e,�� �����,m�� -����.- —��- _ _ � <br />