Laserfiche WebLink
LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #12-3579 <br /> AGREEMENT made this 19th day of September 2012, by and between the CITY OF ORONO, a <br /> Minnesota municipal corporation ("City") and �;��v� �( � <br /> [a corporation—optional] ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application #12-3579 formally requesting the City to review plans for <br /> preliminary plat review located at 2700 Sixth Avenue N the "Subject Property") as more fully shown and <br /> described as Lot 1, Block 1, Fazendin Forest, Hennepin County, Minnesota. <br /> 2. Owners request the City to review said plans which requires City approval including planning, <br /> engineerinq and leqal review <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Owners establish an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $10,000.00 with the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, or legal consultant review) or will <br /> incur in meeting with the Owners, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application #12-3579. Eligible expenses shall be consistent with expenses the Owners would be <br /> responsible for under a zoning and subdivision application. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make <br /> payment to the City within the timeframe outlined in #3 above, shall cease all reviews until the Owners pay all <br /> expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the <br /> Owners to reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owners when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: �lj_�Y QF ORONO OWNERS' .� <br /> " J/l�V ` <br /> By: � ,� �(/� By: �� <br /> � <br /> �ts: r� W�W ���.�e��� � gy. <br /> Its: <br /> ���sern�"��se�C?��r.. �1;������� �p�c�ietit���������s�f��� te .M. � ��le <br /> �i �i�r��t`�t��Str�e#-F <br />