Laserfiche WebLink
USE APPLICATION ESCROW AGREEMENT <br /> Orono Building Permit 615.3740 <br /> AGREEMENT made this day of 1471-4-17 V ,2015.by and between the CITY OF ORONO,a <br /> Minnesota municipal corporation(LA/tar)and George Cla Funk("Owners°) <br /> Recitals <br /> 1. A land use application has been tiled for a preliminary plat located at <br /> 540 Old Crystal Bay Rd S the('Subject Property"), legally described as Lot 1, Block 1,White Oak Overlook, <br /> Hennepin County Minnesota. <br /> 2. Owners request the City to review this application. <br /> 3. The City will com •: its review of the application and incur costs associated with said review <br /> only if the Owner establishes an - • • to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTI - AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF = ••-OW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement,the Owners shall • - $2500 with the City. All accrued interest, if any, shall be paid to the City to <br /> reimburse the City for its cost in = • inistering the escrow account <br /> 2. PURPOSE OF : . ROW.The purpose of the escrow is to guarantee reknbursement to the City <br /> for all out-of-pocket costs the 'k has incurred (including planning, engineering, in excess of $500, or legal <br /> consultant review) or will incur in =viewing the plan. Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible •r under a building permit application. The escrow will also guarantee <br /> reimbursement to the City for all • -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 blic property or infrastructure that is caused by the work(including planning, <br /> engineering, or legal consultant •' ) associated with land use application#15-3740 if compliance with the <br /> approved plan Is not accomplished. <br /> 3. MONTHLY BILLI As the City receives consultant bills for incurred costs,the City will in tum <br /> send a bill to the Owners. shall be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> I <br /> 4. DISBURSEMENT - ;• ESCROW ACCOUNT. In the event that the Owners do not make payment <br /> to the City withkr the timeframe outli . • In 63 above, shall issue a Stop Work Order until the Owners pay all expenses <br /> Invoiced pursuant to #3. The City „ draw from the escrow account without further approval of the Owners to <br /> reimburse the City for eligible ••- - the City has incurred. <br /> 5. CLOSING ES«- • . The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owners when the review has been •mpleted and written notification is received from the Owners requesting the <br /> funds. <br /> 6. CERTIFY UNPAIDARGES. If the project is abandoned by Owners,or if the eligible expenses <br /> incurred by the City exceed the amo escrow,nt in esow,the City shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. t§§415.01 and 366.012. <br /> CITY: CITY •F • -ONO OWNER: <br /> B .0 i�� -e c �u d/ lC �GvN e h <br /> Y <br /> its: , AA/ .c ( ‘.444 <br /> -'( <br /> E _ <br /> Militia'UPI Ors -G WOO*Pissintna O copy to Property*miff ' D:Copy to last Hs <br /> RECEIVED <br /> '"ikY 012015 <br /> CITY OF ORONO <br />