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BUILDING PERMIT ESCROW AGREEMENT <br /> Orono Building Permit#2013-00431 <br /> Demolition(Permit#2013-00455 <br /> AGREEMENT made this�Q day of �.J"e , 2013 by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation("City") Bradley Maenner(°Owners"). <br /> Recitals <br /> 1. A demolition permit application and a building permit application have been filed for demolition of <br /> the principal structure and one (1) accessory structure and construction of a new principal structure at <br /> 3550 Northern Avenue the("Subject Property"), legally described in Exhibit A,attached. <br /> 2. Owners request 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 FOLLOWS. <br /> 1. DEPOSIT OF ESCROW FUNDS. 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 completed in <br /> accordance with the Stormwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. <br /> The financial security may also be used by the City to eliminate any hazardous conditions associated with 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 demolition permit#2013-00455 and building permit <br /> #2013-00431 if compliance with the 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 returned 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 th unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY• TY O ON OWN <br /> !!�� <br /> Y . <br /> Its:���/%1�12 a <br />