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� . LAND USE APPLICATION ESCR4W AGREEMENT <br /> Appiication#1�_- 3l�'SV <br /> AGREEMENT made this�day of_ �.0 -- , 20�, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation("City")and <br /> [a corporation—opfionalJ ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zonin Ap 1' ation# � - �✓� formally requesting the City to <br /> review plans for a O C <br /> located at the property addressed: '1 <br /> (the"Subject Pro rty") lµal;y d�e-sc�ibe as <br /> . <br /> 2. Owners request the City to review said ptans which �equires Ciry apptoval and may require <br /> consulting legaf and/or 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 /> NaW THEREFORE,THE PARTIES AGREE A3 FOL�OWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$�_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�evisw)or will <br /> incur in meeting with tfieQ�ners, �ev ewing the plans, and preparing agenda packet materiaf for City Council <br /> review of application#�9' - ��. Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use applicaUon. <br /> 3. MONTHLY BII.LING. As the City receives consultant bills for incurred costs, the Ciry will in tum <br /> send a bitl to the Owners. Owners sha11 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 ftom the escrow account without further approval of the <br /> Owners to reimburs�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• ;TY OF O ONO OWNERS: <br /> B : gY: � 1'1''„�ts ��c� c� ' <br /> Y <br /> . <br /> ItS: <br /> ��: PROPERTY OWNER <br /> — --- - - - <br /> Intema�Use_Only: -O Original to Firia�ce Departrnent ;- -.D Copy torZonin9 Fi_Ie .:.. O�opy to 8t»et Flle <br /> Padcet lest Updated.� January 2014 <br /> Paqe f0 of 27 <br />