HomeMy WebLinkAboutEscrow agreement 4
ACaf{EE1tiiET+1T dated this day of Larch,-.2G.%,by and het-ween N irmetonka Gest=
Homes, Inc. ("Builder")! Thoma. C=Ielissen ("Buyer"). the City of Clrera ("City") and
Powerhouse Title r"Powerhouse");
WHEREAS, Build-.r has sold to Buyer certair,real Ir OPtrt5 located at 4753 North.Shore
Driw,e,(Jrono,Mirme3ota(the"Property"),
v,rkmuAS, the lomperty requires landscaping and rcWTIiEg wall corrections to aaify
for a Certificate of 000U+ancy:
v�r�MR:ic,AS, pro-vided Buildez and Buyer carnply wvitb the terms and conditions wherein
the City agrees to issue a temporary Certificate of OccuPan.cv. upon execution oftlus AgrecmerLt,
and a penrmeat Certificate of Occupancy utsen c p;.6tiOn to t ie satisfsct:un of fine city of fh:
landscaping and retaining Lvali correctiow("tte worle')ref�re.Iaced in attached Exhibit A,and
NOW, THEREFORE, in consideration of the foregoing lBtulder, 13wfer, City and
Powerhouse armee as followvs:
Ck
5
�
f-L L rz.
1. $10,004 of the purchase or of the Property sltstil be deposited by Burr in,and
shall be .held in, he tit account of PowerhoUse, In trust ("Escrowed Funds") stiNioc to the
following
a. Builder hereby agrees io perform to completion an or before June 34,
2004, the Work requited by the City of Orono as specified in the attached
`.7itten estimate of Builder(Exd0 t A).
b. Powernoxase shall release the Escrowed Pwtds to Builder upon wri*r.
evidence frons tape City that the Work has been perfnrmcd to the
satisfaction of the City.
c. LTpotr release of the escrow to BIW&ff,BITI der shall provide a lien waiver
setisfwory to Buyer.
2. In the avettt',he%IT otk is not completed on or before June 34,2404,*,en:
U104I332VI"WbS4�
999-4 900/200 d Z1.a-,L 919"IVAR+ r.~ .In dl[Z-+rte:a LODWAn "na..s?..JaA
1
a. F+�tiwezhse snarl pat, the fi1G',Q0�1 of Esw�edtttid>dir. tly to tl.e City,
whereupon the Uty shall Wre a contmctur to COD".Pleta the Wc;r!<.
b. Fermissic�ta from the Builder and Buyer is gi,en to the Chy to enter the
property to coyaplete the Work.
C. Zn the event that the Escrowed wads asp pal.d to the City,•a.-kc B03der and
Bttyer for,*4t the entire 510,000 of Escrowee:Furth.
3. Builder and Buyer herebY agrce to hold FoNverhouse barai1ess Vona any cull►
they ray have to tine Escrowed Funds,ex e'Frt ADT thPR yr malfeasance.
4. Builder and Rajer agM to JAdernm-5 and bald %Vmless the City mid its
contractor vT agm feom areY and all claims they or others vlay have to the Escrowed Funds or
arising out of the City's perzornnaace of the Work, except for theft or malfcasauce. Buile0t and
Buyer further agree to wai-Ve 00d release".y claims they may have aiza est the City arse out of
the Wortk,except for theft or mP„1ftsance.
MIR.j TONKA CUSTOM HOMES,IN.C.
4
LCS
4Stetan, rasident tern o Blass,
CITY OF ORO EC' C►t3 TI'T'LE c
7
A.effm& City Administre
2 121d4t932d!'4t8399
E49-d F.AOlEOB'd '18-1 8L9�®pZZ96t GPId�� d� AiiJ-��d �8��8C VOOZ-BZ-lg64
MAR-23-2004 09 : 39 AM P. 04
EXHIBIT A
Lakestate Landscape
15575 82"PI. N.
Maple Grove,MN
55311
763-464-3512
Customer: Minnetonka Custom Homes
2950 island View Dr.
Mound MN 55364
Date: 3118/04
Bid
Wall support items-. Hard Goods:
60' Perforated draintile and couplers: Amendmerds: S
$60.00 Fabric: $
Geo 'd stabilization fabric: Pins: $
$50.00 Stakes: 3
Ed ' : S
Plant Material: hock : $240.00
Mulch:
240 Wards of Sod: $275.00 Base Mat.; $60.00
Total: $300.00
Mise.
Dein : $150,00
Dig osd: TBA
Shop sa lies; $300.00
Labor: 54200.00
Total: 54650.00
Wall Support: $110.00
Plant Material: 5275.00
Hard Goods: $300,00
Mise.: S 4650.00
Total Amount: 55335.00
Thank you For Your Business!
MAR-23-2004 09 : 39 AM P. 05
M m MJLM .r r..
•
COUNTY ROAD NO. 18 E�(ISTING NARQCQb
ceok,��
990.9 X 3horeNna Preeervallof
993.2 r Surface (SLPA)
x 892.0 991.2x Total Hardcover
Concrete Total Area
985.3 x Percent of Coverage
est.o x ROpOSED !
• 796 -� DRIVJr� N
" EXISTING HARDCOVER
988,6 �,_ 9ui1drriQs
9� "" ( Driv"alk/t7eck
9" 22 6 Walla
a` Total Hardcover
Total Arco
986.3 x qa4"" Percent of Coverage
904 r � PROPOSED HAROCOV.
! 983'5 xydusE set.* x Shoreline Preservatior
Surface (SLPA)
Total Hardcover
DF?0.8 ar 9 9'Z x` b To6l Arica
.23 Percent of Coyeroge
13.5
87.@,0, x .1 0.0 16 'p' p at 1 0 �a't. PROPOSED HAROCOVE
(E&F? vtofkout 881� .87°14 •-• n e e h Bindings
A• •.
x 979.5 DrivalWoik
p (Bete) 77 Walla
878.9 x _ IO^cv 997.2_x.. _ 76 . '!ya 0 rotal Hardcover
NTT E P-5 -��-.aJC D ®a+l•,_ �,." =--97� Total Area
Pareent of
Coverage
���`�...'� ".':, 770
per. -�
929 drstbda ifIns �' ` — '�p 7`9
r`u - contew _�.. w #64 LOT
-- --• •--- - = r ' .pro Ili¢
)gal x
LOT c`h, �- ._- .. n . p ±' wu „e - —
959CITY OF OROW
--LOT"_" SITE PLAN _C,. GRAD'
TO APPA0VD•Nff%) Re,-
.,_ ---- -- ❑ APPROVED WITH REVIS101
0 DIG ,V
948.3 x ,yr, DATE 4 vo•Tab
o ,
p • a k -•�s �-•.f3s • �
93?.? x-«• .� _ s Pie X DD0.4 ,
..
.�-. _••_ -� 1-038.1 (000.0) i
_-�.•�` 1
nL.���� � 1��. ns located propos
Ppropw
ropol
BENCH
weterr�nerorren-tl9aeo ti4-la--os pp�,i�