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Home My WebLink About2014-01468 - escrow fee CITY OF ORONO * z 0 1 4 - 0 1 4 6 8 * � 2750 KELLEY PARKWAY DA7'E lsSUEn: OU07/2015 � • ORONO, MN 55356- (952) 249-4600 FAX: (952) 249-4616 ADDR�SS : 2385 GLENDALE COVE LA PIN : 34-118-23-33-0069 LEGAL DESC : GLENDALE COVE : LOT O10 BLOCK 001 PERMIT TYPE : ESCROW FEE-TIED TO BUILDING PERMIT PROPERTY TYPE : RESIDENTIAL CONSTRUCTION TYPE : ESCROW FEE-TIED TO BUILDING PERMIT NOTE: REMAINDER OF ESCROW FOR NGW HOME BUILDING PERMIT#2014-001 12-$7,500.00 PD BY LDK BUILDERS INC.CK #55052 APPLICAI�IT ESCROW FEE- BUILDING 7,500.00 TOTAL 7,500.00 LDK Builders,Inc. Payment(s) 8242 125TH AVENUE CHECK 55052 7,500.00 MILACA, MN 56353- (320)369-4371 OWNER LDK Builders, Inc. 8242 125TH AVENUE MILACA, MN 56353- AGREEMENT AND SWORIY 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."Chis permit will expire and become null and void if construction authorized is not commenced within 180 days of the date of issuance,or iY construction is suspended for a period of 180 days at any[ime 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. IJ —�/� Y � � � �/ � I`� �C--�.�-�- � ��1�CQ�l l � -.7 � / � App ica P rmitee Signature D e Issued By Sigaature Date __ ,_ . . �, . , . �- � • �- . .. :. .. . .. . .- - , .- . _.._.�_... _ _ ----- �i� �c` LDK BCIILDERS, II�IC. • FIRST NATtONAL BANK�F MILACA r'JSOCJZ 2; 8242 125TH AVE[YUE 190 2ND AVENUE S.W. MILACA,MI`3 56353-4418 MILACA,MN 56353 ' ' (320)369-4371 75-331/91s � � _!l� � � �� _ _ _ _ _ _ PAY TO THE C � �j O O � ORDER OF �� d� �<��n � �`' � Se.V C-�l I �� t,..S G�'1� C t V v �c,�n � �- � 0 � �� DOLLARS � c��s.--�.,-�-�,_ �, � ��Ed��'��'G'��L�6o/AOP9��'I�PYAYJD� � � � �..,�.»-�_.,.�,, , �..�.� ..�,.,�w.��_R��,�- VOID AFTER 80 DAYS A-:- � ��__ "�' r�tt,�� —____ � ��' �' I_._ - - - -- - LDK Builders,Inc. S5O52 L l�, �,� 0 � ��c� � S� � � �� :� � � � � �.� �� s �--��i �G � � �s � � � � � � � ob � LDK Builders,�nc. 55O5Z r' `� U � D � � o -�- � 0 �� II111 IIII II IIIII III , � ,•�,�,s .,� �, ,,, ,00ss, vz;�. ' TEMPORARY CERTIFICATE OF OCCUPANCY , ESCROW AGREEMENT Orono Building Permit#2014-00112 AGREEMENT made this�day �(��f, 20 �� b and between the CITY OF ORONO, a Minnesota municipal corporation ("Cit�')and�-�•*� �3 w,o�►-��,�,5 ("Owners"). Recitals 1. Construction of the new residence located at 2385 Glendale Cove Ln, the ("Subject Property"), legally described as: Lot 10, Block 1, Glendale Cove, in Orono, Hennepin County Minnesota, is the subject of building permit number #2014-00112 has been completed. 2. Winter conditions currently prohibit completion of exterior improvements, final grading, and vegetation establishment. An as-built survey cannot be accurately conducted at this time. 3. Owners request the City issue a temporary certificate of occupancy ("TCO") to the Owners so that the Owners may occupy the new residence. 4. The City will issue a TCO only if the Owners establish an escrow to ensure completion of exterior improvements, continuation of erosion control and submittal of an as-built survey to the City. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit $10,000 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 assure completion of any exterior improvements, final grading, establishment of vegetation as well as guarantee reimbursement to the City for all out-of-pocket costs the City has incurred (including planning, engineering, in excess of $500, or legal consultant review) or will incur in reviewing the plan. Eligible expenses shall be consistent with expenses the Owners would be responsible for under a building permit application. The escrow will also guarantee reimbursement to the City for all out-of-pocket costs the City has incurred to assure that the work is completed in accordance with the Stormwater 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 damage to public property or infrastructure that is caused by the work (including planning, engineering, or legal consultant review) associated with building permit #2014-00112 if compliance with the approved building permit is not accomplished. 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn send a bill to the Owners. 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 all requirements related to the project are complete. City Staff shall review the terms of this escrow agreement two times per year to determine whether the requirements of the project have been successfully completed and whether it is appropriate to return the funds. Owner may also request the release of the funds, and such funds shall be released upon City Staff receiving the appropriate verification that all requirements of the project have been successfully completed. 155441 . 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 pursuant to Minn. Stat. §§415.01 and 366.012. 7. ACCESS TO SUBJECT PROPERTY. The Owners hereby grant to the City, its agents, employees, officers and contractors, the right to enter upon the subject property for the specific purpose of inspecting and completing any exterior improvements, final grading, establishment of vegetation and the restoration of the subject property should the Owners not complete the work by the specified dates. CITY: CITY OF ORONO OWNE S: T By: Its: , � ,, , _ `' ` Use Oniy;'� �: 155441