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� . .. <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Appiication#_��- 3lP(�r'J <br /> AGREEMENT made this � day of�'�� � , 20�, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and C7rOY�n 1Nt5�l�tN� <br /> [a corporation—opfiona� ("Owners"). <br /> Recitals <br /> 1. Owners have fled Zoning Application# �� - :�� formalfy requesting the City to <br /> review plans for a VA I �3'V� �- <br /> located at the property addressed: 0 <br /> (the"Subject Property") legally described as <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 $ Z...� 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 fegal consultant review) or will <br /> incur in meeting with the Owners, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application #� - ,3(,Q(t� . Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use application. <br /> 3. MONTHLY BILLING. As the City receives consuftant 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' <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 from the escrow account without further approval of the <br /> Owners to reimburse the City for efigible 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 compfeted. <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 bafance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY• CITY OF ORONO OWN RS: <br /> By: �1V � � <br /> By: -� . <br /> its: � �y f�� its: <br /> l�er,�al�se:�iil�. '��ri���i1�a.�ance�spar�e�t '���y�i��ia�,.��#e ;��p�r�to:'3tr$et:ifNe <br /> Packet Last Updated: March 20?4 <br /> Page 10 of 27 <br />