HomeMy WebLinkAboutRe: escrow agreement Christine Mattson
From: Christine Mattson
Sent: Wednesday, March 06, 2013 10:04 AM
To: 'rodney@colsoncustomhomes.com'
Cc: Melanie Curtis
Subject: 4731 North Shore Drive/#2013-00148
Attachments: Escrow Agreement- Building Permit w Erosion Control 2013-00148.pdf
Hello,
Attached is an updated escrow agreement combining the variance application and the building permit. No
additional money is needed, just a signature on the attached agreement. Please return the updated escrow
agreement along with the signed copy of the resolution. Both documents must be signed and returned before
we can issue the building permit.
If you have any questions, please don't hesitate to contact us.
Christine Mattson
Planning Assistant
City of Orono
2750 Kelly Parkway Orono MN 55356 (physical address)
PO Box 66 Crystal Bay MN 55323-0066 (mailing address)
2 952.249.4620 � 952.249.4616
cmattson@ci.orono.mn.us ? www.ci.orono.mn.us
Office Hours: Monday- Friday 8 am to 4:30 pm
1
BUILDING PERMIT ESCROW AGREEMENT
Orono Building Permit#2013-00148
Variance Application#12-3582
AGREEMENT made this day of , 20_, by and between the CITY OF ORONO,
a Minnesota municipal corporation ("City")and BWB Holdings, LLC ("Owners").
Recitals
1. A building permit application has been filed for a new principal structure located at
4731 North Shore Drive the ("Subject Property"), legally described as Lot 6, and the northwesterly 10.00 feet of
lot 5, Block 5, Berquist & Wicklund's Park and that part of Lake Street (to be vacated) lying between the
southwesterly extensions of the northwesterly line of said Lot 6 and the southeasterly line of the northwesterly
10.00 of said Lot 5, 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. DEPOSIT 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 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, 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 #2013-00148 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 the review has been completed and written notification is received from the Owners requesting the
funds.
S. 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.
CITY: CITY OF ORONO OWNER:
By:
Its:
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