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2016-01447 - escrow fee
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2800 Shadywood Road - 21-117-23-13-0023
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2016-01447 - escrow fee
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Last modified
8/22/2023 4:01:49 PM
Creation date
10/19/2018 2:59:31 PM
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x Address Old
House Number
2800
Street Name
Shadywood
Street Type
Road
Address
2800 Shadywood Road
Document Type
Permits/Inspections
PIN
2111723130023
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. .� <br /> LAND USE APPLICATION ESCROW A�REEMENT <br /> Application#��- ��k8 S <br /> AGREEMENT made this 6 day of O�O, by d between t CITY OF RONO, <br /> a Minnesota municipal corporation "City°)and 4 �' �i.� O er.s <br /> [a corporation—optionaQ ("Owners"). <br /> Recitals <br /> 1. Ovmers h ve filed Zonin Applic tion# �v -�� formally requesting the City to <br /> review plans for a located at the property <br /> addressed: ' (the"Subject Property°) <br /> legally described as �s r <br /> 2. Owners request the City to review said plans 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 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$.,.2��"—' 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, eviewing the plans,and preparing agenda packet material for City Council review <br /> of application #�_ - ���. Eligible expenses shall be consistent with expenses the Owners would <br /> 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'receipt <br /> 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 retumed to the Owners <br /> when all requirements related to the project are complete. City Staff shall review the terms of this escrow agreement <br /> two times per year to determine whether the requirements of the project have been successfully completed and <br /> whether it is appropriate to retum the funds. Owner may also request the release of the funds,and such funds shall <br /> be released upon City Staff receiving the appropriate verification that all requirements of the project have been <br /> successfully 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: CI OF RO OWNERS• J <br /> / <br /> By: By: <br /> �ts: ��L�I,h,e(� �ts: <br /> Intemal'lise flnly: `�Origlnai to�inar�c�Departrne�t O.CopY to Zoning file �)Copy:to St�eet FNe <br /> Variance Application—May 2016 <br /> Page 6 <br />
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