The URL can be used to link to this page

Home My WebLink About2015-00770 - escrow fee , ` CITY OF ORONO * 2 0 1 5 - 0 0 7 7 0 * " � 2750 KELLEY PARKWAY DATE ISSUED: 06/15/2015 ORONO, MN 55356- � r� (952 249-4600 FAX: 952 249-4616 VC �� ADDRESS : 405 NORTH ARM DR PIN : 06-117-23-32-0003 LEGAL DESC : UNPLATTED 06 117 23 : LOT 000 BLOCK 000 PERMIT TYPE : ESCROW FEE-APPLICANT PROPERTY TYPE : RESIDENTIAL CONSTRUCTION TYPE : ESCROW FEE-APPLICANT NOTE: ESCROW FOR REMEDIATION OF MERCURY-PAID BY SOURCE LAND DEVELOPMENT,INC.-CK#238528-$20,000.00 APPLICANT ESCROW FEE-EROSION CONTROL 20,000.00 Source Land Capital Pa ment s TOTAL 20,000.00 18215 45TH AVE N, STE D y � � PLYMOUTH,MN 55446- CHECK 238528 20,000.00 (763)551-0100 OWNER Source Land Capital 18215 45TH AVE N, STE D PLYMOUTH,MN 55446- 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 dces not grant permission for additional or related work which requires sepazate permits. All provisions of laws and ordinances goveming 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 aze requested in conformance with the State Building Code.This permit may be revoked at any time for due cause. /� IfC� / (�e.c� dl�l-�"` 0 i f�c� (� i! S� 1 S Applicant Permitee Si a ure Date Issued By Signatur Date ✓ ,,,C.a,r,ru,� f- s .� z(�'1�► ��'►1�i�" APPL{CATfON E CROW AGREEMENT Application# 6 �^l1 � AGREEMENT made this � day of t,l YIS�- , 20 ��, by and between the Ci Y OF ORONO,a Minnesota municipal corporation ('City'�and N`1P,�1 (�vh�Yl(� nY� IQ12. 1 6 _�Y�UI'C.�.. (�0.Cld nP�14�Q�1'�.Pj1 t" [a corporation-opfionaij{`Owners"). Recitals 1. Owners have filed Land Use Application�bu7'llformally requesting the City to review plans for the property addressed: 4h._.S (�ON�1 f�rfYv� �QYISL. {the `Subject Property") legally described as 2, Owners reques# the Ci#y to review said plans which requires City approval and may require consulting legal and/or engineering re�iew. 3. The City is willing to commence iis review of the application and incur costs associated with said review only if the Owners establish an escrow to ensure reimbursement to the City of its costs. NOW 7HEf2EFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROV�( _FUNQS. Contemporaneously with the execution of this Escrow Agreement, the Owners shatl deposit$ 'LO�8(� with the City. All accrued interest, if any, shall be paid to ihe City to reimburse the City for its cost in administering the escrow aacount � -- --- - - 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 mee#ing with the Owners, reviewing the plans, and preparing agenda packet material for City Council review of Land Use Application#2015-Ooll l. Etigible expenses shall be consistent with expenses the Owners would be responsible for under a land use application. 3. MONTHLY B1�LING. As the City receives consuftant bills for incurred costs, the City witl in turn send a bil! 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 cease all reviews until the Owners pay al1 expenses invoiced pursuant to#3. The City may draw from the escrow account wi#hout 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 al!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 ta retum the funds. Owner may also request the reiease of the fiunds, and such funds shall be released upon City Staff receiving the appropriate verification that all requirements o#the project have been successfully completed. 6. CERTIFY UNPAtD CliARGES. If the project is abandoned by Owners,or if the eligible sxpenses incurred by the City exceed the amount in escrow, the City shaN have the right to certify the unpaid balance to the subject property pursuant to Minn. Stat.§§415.01 and 366.012. ClTY: C OF ORONO OWNERS� sY: � 4'��1 h� ay: its:_ �1 ��S�QV� �ts: /!/�/1G�A� Irrternat Use�nly: p Or�ginal to Finance DepartmeM �Copy to Zoning File O Copy to Street File Updaied: May 2015 . , � EXECtJTIVE TITL.E ING-escRow accouar. ****REpi�ESTATE CLOSING 'k**'` 238528 Borrower. Sou�ce Lar�d Developme�i, Inc. Seller:Source larld Capital,LLC � Lender. &ldgewater Bank Property: 405 No�th Arm Drive/Orono SettlemeMDatec JuAe 11,20�5 CloseriResponsible Party: Dis.bursemerrt Date:June 11,�015 - Chedc Amo�nE 3 20,000;00 (1503013'V12'� Pay To: G�y of Orono F�: Erosion Control and Engineering Review Costs Escrow Erosion Control and Engineering Review Costs Escxow(1303)$2p,pp0,0p � �- RECE4V�� -� � . �Q� Jt�N 1� 2015 �o� y� ��`' � � crrr oF �R°�O _ . . . . .. _ .. _ . _. . ........ . ... ..�. . Exec�i+ve T�e�.-�ro�r�Mt a�i�HOR� ��8�iZ�$ 70��Ave�,S'i�ite�6� ' M�2T#!8'�'.�A�ft,111Mi �1� ` Cy01t�'�X�iey.11A� '.�4�#� Pli.: �7$�4�9-1$� 1a0�A'13:7 �resic�CeAtro)��ir►een�r+g Ft�vierar Gps�:�sor�v P�4Y —T�y fi�Rd��d tJD�1� ; C�rollars :D�+T� - A11�O�tMT . ,f�11,2fl1� " $r"*�'.ZO,OtN�.{14 , ' To TH� �y af�3r�r� _ O� 1f�D 72{i t3A'1�Af��iKT��F Iffi&UE _ , 0� , _. ,. : , ��..� � 1 � � . City of Orono : �4t�tt�lt��DS1��i1R� �`� ' - ' 2750 Kelley Parkway �-: _ . _ . ____ Orono MN 55356 952-249-4600 Receipt No: 3.013624 Jun 15, 2015 � Source Land Capital\ i " Planning and Zoning 2015-00770 405 North Arm 20,000.00 � � Dr 101-22205 ; � Deferred Rev-Developer Deposit ! Total: 20,000.00 � � Check =--=-=-=--=--= i Check No: 238528 20,000.00 Payor: Source Land Capital\ � Total Applied: 20,000.00 i Change Tendered: .00 , t ______________ � O6/15I2015 04:05PM