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HomeMy WebLinkAbout2014-00761 - escrow fee CITY OF ORONO * 2014 - 00761 * 2750 KELLEY PARKWAY DATE ISSUED: 07/24/2014 ORONO,MN 55356- 952 249-4600 FAX: (952)249-4616 ADDRESS 3700 NORTHERN AVE PIN 17-117-23-34-0002 LEGAL DESC REG.LAND SURVEY NO.0763 : LOT 000 BLOCK 000 PERMIT TYPE ESCROW FEE-TIED TO BUILDING PERMIT PROPERTY TYPE RESIDENTIAL CONSTRUCTION TYPE ESCROW FEE-TIED TO BUILDING PERMIT NOTE: THIS$2500 ESCROW IS TIED TO BUILDING PERMIT 2014-00551 AND DEMOLITION PERMIT 2014-00548 APPLICANT ESCROW FEE-BUILDING 2,500.00 ESCROW FEE-EROSION CONTROL 0.00 Real Assets II,LLC ESCROW FEE-GRADING 0.00 550 25TH AVE N ST CLOUD,MN 56303- TOTAL 2,500.00 Payment(s) CHECK 009747 2,500.00 OWNER Real Assets II,LLC 550 25TH AVE N ST CLOUD,MN 56303- 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 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.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 are requested in conformance with the State Building Code.This permit may be revoked at any time for due cause. Applicant Permitee Signature Date ssu y Signature Date • _ BUILDING PERMIT ESCROW AGREEMENT Orono Building Permit#2014-00551 & Demolition Permit#2014-00548 AGREEMENT made this_c2 4 day of LAI --, 2014, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and 'FS LLQ ("Owners"). Recitals 1. A demolition permit application has been filed for the property at 3700 Northern Avenue ("Subject Property") which is currently described in Exhibit A attached, concurrently with a building permit application for a new home to be constructed upon successful completion of a pending subdivision within the Subject Property. The future address of the new home is anticipated to be assigned as 3750 Northern Avenue, on a portion of the Subject Property anticipated to be legally described as Lot 1, Block 1, Northern Oaks, Hennepin County, Minnesota. 2. Owners request the City to review the applications. 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 demolition and building permit applications. 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 #2014-00551 & demolition permit#2014-00548 if compliance with the approved permits 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. 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. CITY: CITY OF OROPP OWN By: r� Its: t',u rAu► tc� \,1�"t� EXHIBIT A LEGAL DESCRIPTION OF PROPERTY Torrens portion: Tracts B and C, Registered Land Survey No. 763, Hennepin County, Minnesota, Abstract portion: That part of Lot 9, Block 10, Townsite of Langdon Park which lies south of the westerly extension of the North line of Tract B, Registered Land Survey No. 763 and which lies west of the West line of said Tract B; That part of Vacated Northern Avenue, that lies westerly of the southerly extension of the southerly portion of the East line of Tract C, Registered Land Survey No. 763, and easterly of the southerly extension of the West line of Lot 9, Block 10, Townsite of Langdon Park, Hennepin County, Minnesota.