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A <br /> i� ,. <br /> � LAND USE APPLICATION E��WE�ZS� <br /> Appiication� <br /> AGREEMENT made this Z day of 1"��� 20�S by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation(°City")and lc ard Ri'er <br /> [a corporation—opCronalj('Ov►mers"). <br /> 1. Owners have filed Land Use Ap�ication#��formally requesting the City to review plans <br /> forthe property addressed: 1491 Shoreline Drive (the 'Subject Property°) legally <br /> desc�ibed as LOTS 1 AND 2 N J STU883 1ST SUBD AND THAT PART OF GOVT LOT 2 LYING <br /> 2 EL�W Oe� 3�HUOR�E�he�iry to r�sa�Fpla�ns wDhich requires City approval and may require <br /> t <br /> consu�ing legal and/or engineering review. <br /> 3. The City is willing to commence its review of the application and incur cos�assoaated with said <br /> review only if the Owners establish an escrow ta ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROV'j F_,,UN�. Contemporaneously with the executio►� of this Escrow <br /> Agreement, the Owners shall deposit sl '��with the City. All accrued interest, if any, shall be paid to the <br /> Ciry 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 incuned(including planning, engineering, or tegal consultant review)or will <br /> incur in meeting with the Owne�s reviewin the plans, and preparing agenda packet material for City Council <br /> review of Land Use Application#�b15-GO . Eligible exper�es shall be consisterrt with expenses the Owners <br /> woould 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 Ov+mers. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> �eceipt 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 autlined in #3 above, shall cease alt �eviews urrtll the Owners pay all <br /> expenses invoiced pursuant to#3. The City may draw from the escrow acxount without further approval of the <br /> Ov►mers to reimburse the City fo�eligible expenses the City has incurred. <br /> 5. CL�SING ESCROW. The Balance on deposit in the escrow, if any, shall be retutned to the <br /> Owners when all requiremerrts related to the project are complete. City Staft shall review the terms of this escrow <br /> agreement two times per year to detennine whether the requiremerrts of the projed have been successfully <br /> completed ar� whether it is appropriate to return the iunds. Owner may also request the retease of the funds, <br /> and such funds shall be released upon Cit�r Staff receiving the appropriate verification�at all requirements of the <br /> project have been successfully completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by C�v►mers,or if the eligible expenses <br /> incurred by the City exceed the amount in escrow,the City shall have the�ght to certify the unpaid balance to the <br /> subjed property pursuant to Minn.Stat.§§415.01 and 366.012. <br /> CITY: CITY ORONO OW E : <br /> By ay: l <br /> 1�. ��'� h P�L ��: owner <br /> Intemal Use,Only: O Oripin�to��r�eMrtment L1 Copy�6o Zoninp Flle C�Copy�o Street,file <br /> Updat�: Jan�ry 2015 <br />