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Home My WebLink About2014-01423 - escrow fee } '' CITY OF ORONO * 2 0 1 4 - 0 1 4 Z 3 * 2750 KELLEY PARKWAY DATE ISSUED: 12/1 U2014 ORONO, MN 55356- (952) 249-4600 FAX: (952) 249-4616 ADDRESS : 475 OXFORD RD PIN : OS-117-23-41-0010 LEGAL DESC : STIELOWS ADDN ; LOT 002 BLOCK 001 PERMIT TYPE : ESCROW FEE-TIED TO BUILDING PERMIT PROPERTY TYPE : RESIDENTIAL CONSTRUCTION TYPE : ESCROW FEE-TIED TO BUILDING PERMIT NOTE: THIS$7500 ESCROW IS FOR THE TEMPORARY CERTIFICATE OF OCCUPANCY FOR 2013-00548. APPLICANT ESCROW FEE-BUILDING 7,500.00 ESCROW FEE-EROSION CONTROL 0.00 CKO VACATION PROPERTIES 575 OXFORD ROAD ESCROW FEE-GRADING 0.00 MEDINA,MN 55340- TOTAL 7,500.00 Payment(s) CHECK 321 7,500.00 OWNER CKO VACATION PROPERTIES 575 OXFORD ROAD MEDINA,MN 55340- AGREEMENT AND SWORN STATEMENT The work for which this permit is issued shall be performed according to the approved plans and specifications,applicable Ciry approvals,and the State Building Code. This permit is for onfy the work described and dces 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 Issued By Signature Date � � TEMPORARY CERTIFICATE OF OCCUPANCY ESCROW AGREEMENT Orono Building Permit#2013-00548 AGREEMENT made this�day of , 20� by and between the CITY OF ORONO, a Minnesota municipal corporation ("City ) an CKO Vacation Properties, LLC ( Owners ). Recitals 1. Construction of the new residence located at 475 Oxford Road the ("Subject Property"), legally described as Lot 2, Block 1, Stielows Addition, Hennepin County Minnesota, is the subject of building permit application number 2013-00548 has been completed. 2. Winter conditions currently prohibit completion of exterior improvements, final grading, and vegetation establishment. An as-built sunrey cannot be accurately conducted at this time. 3. Owners request the City issue a temporary certificate of occupancy ("TCO") to the Owners so that the Owners may occupy the new residence. 4. The City will issue a TCO only if the Owners establish an escrow to ensure completion of exterior improvements, continuation of erosion control and submittal of an as-built survey to the City. NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow Agreement, the Owners shall deposit a10,000 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 assure completion of any exterior improvements, final grading, establishment of vegetation as well as 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 #2013-00548 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 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. 755441 � , • 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. 7. ACCESS TO SUBJECT PROPERTY. The Owners hereby grant to the City, its agents, employees, officers and contractors, the right to enter upon the subject property for the specific purpose of inspecting and completing any exterior improvements, final grading, establishment of vegetation and the restoration of the subject property should the Owners not complete the work by the specified dates. CITY: CITY OF ORONO OWNERS;� �� .� By: �� f�� cs. J �, . , � � ��. ._ .. :f ��. ., . . � 155441