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Home My WebLink About2014-01420 - escrow fee CITY OF ORONO �® 2750 KELLEY PARKWAY * 2 0 1 4 - 0 1 4 2 0 DATE ISSUED: 12/11/2014 ORONO,MN 55356- (952) 249-4600 FAX: (952) 249-4616 ADDRESS 3750 NORTHERN AVE PIN : 17-117-23-34-9993 LEGAL DESC REG. LAND SURVEY NO.0763 LOT I BLOCK I PERMIT TYPE ESCROW FEE-APPLICANT PROPERTY TYPE RESIDENTIAL CONSTRUCTION TYPE ESCROW FEE-APPLICANT NOTE: ESCROW FOR NEW HOME PERMIT#2014-00551-PAID W/CK#94856 APPLICANT ESCROW FEE-APPLICANT 2,500.00 ATLAS HOMES INC Payment(s) TOTAL 2,500.00 14450 117TH AVE N CHECK 94856 2,500.00 DAYTON, MN 55369- (763)691-9044 Minnesota State License#: BUIL-BC20269686 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. Lc7yy-,un Applicant PetYrttte g ture Date Issued By Signature Date BUILDING PERMIT ESCROW AGREEMENT Orono Building Permit#2014-00551 & Demolition Permit#2014-00548 AGREEMENT made this day of 2014, by and between the CITY OF ORONO, a Minnesota municipal corporation ("City") and 42 ("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: ITY OF ORONO OWNER: gy. Its: 9 C kiternal Use Only: M Origtnal to Planning 0 Copy to Property Owner Copy to Street Fite pREMIER TITLE INSUFIANCE AGENCY,INC. ansa ► 5 s�ucMA EscRaw ACcowff 02 ORM54 M METw BOuLEV>m,surrE soo EWA,MN W439-2302 Rerm11 Fee 9$2-842-e439 ars —Five Thousand Sixty Nine and 25/100 * •* *5,069.25 November 19, 2014 S PAY To THE ORDER Of City of.Orono 41 OPMD �' i City of Orono 2750 Kelley Parkway 952-249-4600 Orono MN 55356 Receipt No: 3.012448 Dec 11, 2014 Atlas Homes Previous Balance: .00 Permits 2014-01420 3750 Northern 2,500.00 Ave 101-22205 Deferred Rev-Developer Deposit Permits 2014-00551 3750 Northern 2,406.75 Ave1-32510 Building Permits Permits 2014-00551 3750 Northern 162.50 Ave 101-20802 Due to govts-State ------------ -- Total: --_ _ 5,069 25_ Check 5,069.25 Check No: 94856 Payor: Atlas Homes 5.069.25 Total Applied: ------_-----___ Change Tendered: .00 12/11/201 012/11/2014 01:23PM