HomeMy WebLinkAbout2013 - 00244 - escrow fee r 7�. '". CITY OF ORONO 111111111111111111 II Il* 20 lI
2750 KELLEY PARKWAY DATE ISSUED: 04/12/2013
ORONO, MN 55356-
(952) 249-4600 FAX: (952)249-4616
ADDRESS : 4550 WOLVERTON PL
PIN : 31-118-23-31-0005
LEGAL DESC : FOXFYRE ESTATES
: LOT 001 BLOCK 001
PERMIT TYPE : ESCROW FEE-APPLICANT
PROPERTY TYPE : RESIDENTIAL
CONSTRUCTION TYPE : ESCROW FEE-APPLICANT
NOTE: THIS$18,000 ESCROW IS TIED TO RESOLUTION NO.6136
APPLICANT ESCROW FEE-APPLICANT 18,000.00
STEPHENSON,REVIS L ESCROW FEE-DEVELOPER 0.00
4550 WOLVERTON PL
MAPLE PLAIN,MN 55359- TOTAL 18,000.00
OWNER
STEPHENSON,REVIS L
4550 WOLVERTON PL
MAPLE PLAIN,MN 55359-
AGREEMENT AND SWORN STATEMENT
The work for which this permit is issued shall be performed according to
the approved plans and specifications,applicable City approvals,and the
State Building Code. This permit is for only the work described and does
not grant permission for additional or related work which requires separate
permits. All provisions of laws and ordinances governing this type of work
shall be compied with whether or not specified herein.This permit will
expire and become null and void if construction authorized is not
commenced within 180 days of the date of issuance,or if construction is
suspended for a period of 180 days at any time after work has commenced.
The applicant is responsible for assuring all required inspections are
requested in conformance with the State Building Code.This permit may be
revoked at any time for due cause.
Applicant Permitee Signature Date Issued By Signature Date
SEPARATE PERMITS REQUIRED FOR WORK OTHER THAN DESCRIBED ABOVE.
ESCROW AGREEMENT
AGREEMENT made this 10th day of April 2013, by and between the CITY OF
ORONO, a Minnesota municipal corporation ("City") and WOLVERTON PLACE, LLC
represented by Revis Stephenson ("Developer").
Recitals
A. Developer will be performing construction activities on property located at 4550
Wolverton Place, City of Orono, Hennepin County, Minnesota ("subject
property").
B. The City is requiring this Agreement to cover all consulting expenses incurred by
the City to insure completion of the project. In addition, the escrow shall cover
the expenses associated with removal of invasive species, tree mitigation, tree
protection and wetland protection.
C. Developer has agreed to provide financial security for the completion of the items
cited above by entering into this Escrow Agreement.
D. The City has determined that this Escrow Agreement constitutes adequate
assurances from the Developer, sufficient to protect the City from potential damages
and noncompliance with the City Code.
NOW,THEREFORE,THE PARTIES AGREE AS FOLLOWS:
1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this
Escrow Agreement, the Developer shall deposit Eighteen Thousand and No/100 Dollars
($18,000.00) with the City. All accrued interest, if any, shall be paid to the City to
reimburse the City for its cost in administering the escrow account.
2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee that the
restoration requirements outlined in Resolution No.6136 are completed properly and that
any vegetation that does not establish successfully is replaced. The City may also draw
down on the escrow to prepare record plans if the Developer does not provide them at the
end of the project. The City may also draw on the escrow for any expenses not
reimbursed in Paragraph 3.
3. MONTHLY BILLING. The City will forward monthly to the Developer a statement
and bill for the expenditures incurred by the City for staff and consultant services. Such
statements shall be due and payable within fifteen (15) days of receipt by the Developer.
No statement will be sent if there are no expenses incurred in the period since the most
recent statement. The City shall itemize all time, services, and materials billed to the
Developer and said time, services, and materials shall be in accordance with the rules,
regulations, and fees as promulgated and adopted by the City Council.
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4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event the Developer does
not make payment to the City as provided in Paragraph 3 above,the City may draw from
the escrow account from time to time without further approval of the Developer to
reimburse the City for eligible expenses the City has incurred. The City shall
periodically notify the Developer of the draws the City has made and the nature of the
expense for which the reimbursement is being made.
5. CLOSING ESCROW. The escrow, less any eligible expenses, shall be returned to the
Develper two growing seasons after planting if the planting is successful. If substantial
portions of the plantings are not successful after one planting season the City may hold
the escrow for an additional planting season. If substantial portions of the plantings are
not successful after two planting seasons the City may hold the escrow for two additional
planting seasons.
6. ACCESS TO SUBJECT PROPERTY. The Developer hereby grants to the City, its
agents and its employees, the right to enter on the subject property for the specific
purpose of inspecting or completing the restoration of the subject property should the
Developer not complete the work by the specified dates.
CITY OF ORONO
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DEVELOPER:
By:
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