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t ' <br /> LAND USE APPLICAT ON SCROW AGREEMENT <br /> Applicatlon# I¢�� <br /> AGREEMENT made this�day of � tlr�� �� , 20�, by and between the CITY OF <br /> ORONO,a Minnesota municipal corporation(`City')and �D.f �r�4,�M��f� . �cn <br /> [a corpora�on—opttonalj("Owner'). <br /> Recitals - <br /> 1. Ovmers have filed Zoning A' lication # .. formally requesting the City to <br /> review plans for ��/ 7`An� ar�x+ �r�n-m��� �n it+�'Ng �y n <br /> located at � �..n Y <br /> the"Subject Property")as more Ily shown and descrybed on Exhibn"A"attached hereto. <br /> 2. Owners request the City to review said plans which�equires Cfty approval i�cluding <br /> 3. The City is willing to commence tts review of the applicetion and incur costs associated with said <br /> review only if the Owners establish an escrow to ensure reimbursemerrt to the Ciry of its costs. <br /> NOW THEREFORE,THE PARTIE8 AGREE AS FOLLOW8: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$ S'����'with the City. All accrued interest, (f 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�the City <br /> for all out-of-pocket costs the City has incurred(including planning,engineering, or legat consuitant revlew)or wpl <br /> incur in meeting with the �ers, reviewing the plans, and preparing agenda packet mater�al for City Council <br /> review of application # 1 .3(04� . Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a zoning end subdivislon applicatfon. <br /> 3. MONTHLY BILUNG. As the City receives consultant bills for incurred costs, the City wil) in turn <br /> send a blll to the Owners. Owners shall be responsible for paymerrt to the City within 30 days of the Owne�s' <br /> receipt of biil. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. in the event that the Ovmers do not make <br /> payment to the City within the timeframe outltned in #3 above, shall cease all reviews urrtil the Owners pey all <br /> expenses invoiced pursuant to#3. The City may draw from the escrow accaunt without further approval of the <br /> Owners to reimburse the City for eligible expenses the City has incurred. <br /> S. CLOSING ESCROW. The Batance on deposit in the escrow, if any, shall be retumed to the <br /> Oumers when the review has been�mpleted. <br /> 6. CERTIFY UNPAID CHARGES. If the projsct is abandoned by Owners,or if the eligib�expenses - <br /> incurred by the City exceed the amount in escrow,the City shal!have the r�ght to cert(fy the unpald balance to the <br /> subject property pursuant to Mfnn.Stat.§§415.01 and 366.012. <br /> CITY: Y OF R O OWNERS: <br /> By: �`� Bv: <br /> . <br /> ��YVh� n� ��: �a-'�w�f� <br /> ��� <br /> --a ��� - - ��.--�-�i <br /> Pecket Last Updeted.� 032�''l3 <br /> Pege 10 of 29 <br />