HomeMy WebLinkAboutescrow agreement BUILDING PERMIT ESCROW AGREEMENT-APPLICATION#2012-00127
DEMOLITION PERMIT ESCROW AGREEMENT-APPLICATION#2012-00126
LAND USE APPLICATION ESCROW AGREEMENT—APPLICATION #12-3541
AGREEMENT made this �) day of �C/�J , 20 �� by and between the
CITY OF ORONO, a Minnesota municipal corporation ("City") and Robb&Tina Richter("Owner").
Recitals
1. Owners have filed Zoning Application #12-3541, demolition permit #2012-00126 and building
permit #2012-00127 formally requesting the City to review plans for variances, demolition and new construction
located at 3508 Ivy Place the "Subject Property") legally described as, Lot 183 and the southeasterly half of Lot
182 Taylors Subdivision of Spring Park Lots, Hennepin County, Minnesota.
2. Owners request the City to review said plans which requires City approval including engineering
and legal reviews.
3. The City is willing to 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. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow
Agreement, the Owner shall deposit$2,500 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 reimbursement to the City
for all out-of-pocket costs the City has incurred (including planning, engineering, or legal consultant review) or will
incur in meeting with the Owner, reviewing the plans, and preparing agenda packet material for City Council
review of application #12-3541, demolition permit #2012-00126 and building permit #2012-00127. Eligible
expenses shall be consistent with expenses the Owner would be responsible for under a zoning and subdivision
application.
3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn
send a bill to the Owner. Owner shall be responsible for payment to the City within 30 days of the Owner's receipt
of bill.
4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not make
payment to the City within the timeframe outlined in#3 above, the City may draw from the escrow account without
further approval of the Owner to reimburse the City for eligible expenses the City has incurred. The City shall
notify the Owner of such draw and the nature of the expense for which the reimbursement is being made. If the
Escrow amount falls below 75% of the original escrow amount the Owner shall deposit additional sums as
directed by the City, or the City shall discontinue all review.
5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the
Owner when the review has been completed.
6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, 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.
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