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. �� <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Application#�_- �II�� <br /> AGREEMENT made this�day of , 20�, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City")and <br /> [a corporation—optionaq ( Owners ). <br /> Recitals <br /> 1. Owners have�led Zonin Ap I� tion# � - �'✓� formally requesting the City to <br /> review plans for a � O C <br /> located at the property addressed: �1 <br /> (the"Subject Property°y legaliy describe as <br /> e -t H 1 �- �T r <br /> . <br /> 2. Owners request the City to �eview said ptans which requires City approval and may require <br /> consulting legal and/or engineering review. <br /> 3. The City is willing to commence its review of the application and incur casts 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 executian of this Escrow <br /> Agreement, the Owners shall deposit$ 1d0•Cf�l with the City. All accrued interest, if any, shall be paid to the <br /> City to�eimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement ta 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 theQ�ers, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application #�9' - _,�,��D,�Q. Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a tand use application. <br /> 3. MONTHLY BI�LING. As the City receives consultant bills for incurred costs, the Ciry will in tum <br /> send a bill to the Owne�s. 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 eligibte 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•_�TY OF 0 ONO OWNERS: <br /> ey. ` 1 ,�' ��� �.. <br /> 9y: <br /> I�S. `� �ts: PROPERTY OWNER <br /> -•-- ---.. ._ -- - -- - <br /> _ _, .- . .�..__. - . ,m _. <br /> - --- , ... G�opy bo 8troet File <br /> Internal Use._Only: : Q Or�ginal to Finance Department __ O Copy toiZoning File <br /> Packet Last Updated: January 2014 <br /> Page f 0 of 27 <br />