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, y <br /> � • LAND USE APPUCATION E �O Ac�tE� EMENT <br /> npp��caticr,�:��� U9D 2S� <br /> AGREEMENT made this Z day of/"���i 20�S by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation(°City")and lc ard Ri'er <br /> [a corporation—optionalj('Owmers"). <br /> 1. Owners have filed Land Use Application#�-�D?�"Jformatly requesting the City to review plans <br /> forthe property addressed: 1491 Shoreline Drive (the "Subject Property°) legati <br /> described as LOTS 1 AND 2 N J STUBBS 1ST SUBD AND THAT PART OF GO"VT LOT Z LYING <br /> ELy OF SHORELI DR p�p W QF SAID �,pTS 1 a�T� 2 <br /> 2. Owners request the�ity to review sa�d plans which requires �Ry approval and may require <br /> consu�in8 legal and/or engineering review. <br /> 3. The City is willing to commence its revi�w of the application and incur costs associated with said <br /> review only if the OHmers establish an escrow to snsure reimbursement to the City of its costs. <br /> � <br /> NOW THEREFORE,THE PAR�3 AGREE AS FOLLOWS: <br /> 1. DEPOSiT OF ESCRO FUND . Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit S with the City. All accrued interest, if any, shall be paid to the <br /> Ciry to reimbu�e the City br its c�sst 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-podcet c�ts the City has fncurred(including planning, engineering, or legal consultant review)or will <br /> incur in meeting with the Owners reviewin the plans, and preparing agenda pack�t material for City Council <br /> review of Land Use Application#�bl5-G� . Eligible expenses shall be consisterrt with expenses the Ovmers <br /> v�nould be responsible for under a land�e application. <br /> 3. MONTHLY BILLING. As the City receNes consultant bilis for incurred c�sts, the City will in tum <br /> send a bill to the Owners. Ov►mers shail be responsible for paymerrt to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Ovmers do not make <br /> payment to the City within the timeframe qutiined in #3 above, shall cea�e all reviews urrtil the Owners pay all <br /> expenses invoiced pursuant to#3. The City may draw from the escrow acxourrt without further approval of the <br /> Ov►mers to reimburse the City for eligible expenses the City has incuRed. <br /> 5. CLOSING ESCROW. The Balance on depc�sit in the escrow, if any, shall be retumed to the <br /> Owners when ail requiremerrts related to the project are complete. City Staff shall review the terms of this escrow <br /> agreement two times per year to determine whether the requiremer�ts of the projed have been successfutly <br /> campleted and whether it is apprc�xiate to retum the funds. Ov►mer may also request the rele�e of the funds, <br /> and such funds shaU be released upon City Staff receiving the appropriate verific;�tion that ali r�uiremenis of the <br /> project have been sucxessfully completed. <br /> 6. CERTIFY UNPAID CHARt3ES. If the project is abandonad by Owmers,or if the eligible expenses <br /> incurred by the City exceed the amount in escrow,the City shall have the�ight to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY ORO� OW E : <br /> By gy_ ( <br /> tts_ 1���('�(�L h e.� �ts: Uwner <br /> 1rNiernal tlse Oni�t: ` O�iginai to� ` nce'> pa�ment G�ogy tio 2vnin�fiie �"Copy�3tr+eet FNe <br /> updated: January 2015 <br />