2016-00802 - escrow fee - Laserfiche WebLink

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l . BUILDING PERMIT ESCROW AGREEMENT Orono Building Permit#2016-00701 (in-ground pool) Land Use Application#2016-00744(minor land alteration) � AGREEMENT ade this (1— day of 1 , 20t by and between the CITY OF ORONO, a Minnesota municipal c rporation ("City")and Mi'hael -b Benedict("Owners"). Recitals 1. A build ng permit application has been filed for an in-ground swimming pool located at 25 Orono Orchard Ro d N the ("Subject Property"), legally described as that part of SW % of SW XI of SW Sec. 35, T118, R23 lyin SWLY of Orono Orchard Road, except that part of the west 250 feet lying north of south 400 feet, and except tha part of west 50 feet lying north of south 374 feet thereof Hennepin County Minnesota. 2. Owners request the City to review this application. 3. The City will commence its review of the application and incur costs associated with said review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOS T OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit$2,500 with the City. All accrued interest, if any, shall be paid to the City to reimburse the City for it cost in administering the escrow account. 2. PURP E OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City for all out-of-pocket co is the City has incurred (including planning, engineering, in excess of $500, or legal consultant review) or Il incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be res onsible for under a building permit application. The escrow will also guarantee reimbursement to the C y for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the St rmwater Pollution Prevention Plan and the provisions of Orono City Code Chapter 79. The financial security May also be used by the City to eliminate any hazardous conditions associated with the work and to repair any amage to public property or infrastructure that is caused by the work (including planning, engineering, or legal c nsultant review) associated with building permit #2016-00701 and zoning permit #2016-00744 if complia ce with the approved building permit is not accomplished. 3. MONT LY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Own rs. Owners shall be responsible for payment to the City within 30 days of the Owners' receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make payment to the City within the timeframe outlined in #3 above, shall issue a Stop Work Order until the Owners pay all expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the Owners to reimburse the City for eligible expenses the City has incurred. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Owners when the review has been completed and written notification is received from the Owners requesting the funds. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the subject property pursuatht to Minn. Stat. §§415.01 and 366.012. CITY: CITY OF ORON9 OWNER: 041/14‘k1 tk. IrL CqA141:t_ diadd. By: Its: Internal Use Only: 0 Original to Planning 0 Copy to Property Owner 1 Copyto Street File