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, LAND USE APPLICATION ESCROW AGREEMENT <br /> �" Application# ' � - ��� �Z <br /> AGREEMENT made this � � day of �"f� � 20 �i"'p , by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation (`City") and ��b�+ l�t.�'��1n <br /> [a corporation—optionalJ ("Owners ). <br /> Recitals <br /> 1. Owners have filed Zoning Application# I � - ���formally requesting the City to <br /> review plans for pC G�G�,��� e 1�-G��i t ✓� L�-v`C-� <br /> located at the property addressed: l 0 < ( �-�l <br /> (the"Subject Property") legally described as �- aS � �-- <br /> 2. Owners request the City to review said plans which requires City approval and may require <br /> consulting legal andlor engineering 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 FUN�S. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$ —I(�� 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 tt�e Owners, reviewin the plans, and preparing agenda packet material for Ciry Council <br /> review of application # l�{ - �3 Co� � . Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use 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: CITY OF ORONO' OWNERS: <br /> IJ,�,,� By: �� <br /> By: ��t���N"� • � <br /> Its: I l(/�- � � Its: <br /> �ternai�'se�nly'�,���„C��n'g�""�n�l�o F ni n�"J�eparim�,�„�'� �u.�,."�cP�c;'�Zo��g'"�Fffe I�,C�ip��o��Streef�lle <br /> Packet Last Updated: January 2014 <br /> Page 10 of 27 <br />