Laserfiche WebLink
� � r . <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> application#�_- 3�,Z� <br /> AGREEMENT made this�D day of ,20� by and between the CITY OF ORONO, <br /> a Minnesota municipal corporation("City")and <br /> (a corporation—optional�("Owners"). <br /> ecita�s <br /> �• Owners have filed Zoning Application# /� - _3�a�� formaliy requesting the City ta <br /> review plans for a_C.(JP � fZe�rtMg located at the property <br /> addressed:_ 2��7v s H a.,,� Aj <br /> legally descnbed as (�he"Subject Properiy°j <br /> 2• Owners request the City to review said plans which requires City approval and may ret�uire <br /> consulting legal and/or engineering review. <br /> 3. The City is willing to commenoe its review of the applicatian and incur costs associated with said <br /> review only if the Owners estabiish an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLQWS: <br /> 1. DEPOSIT OF ESCRO FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$ � .�0 with the City. All accrued interest, if any, shalf 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 reimbursemerrt to the City <br /> for all out-of-pocket costs the Ciry has incurred(induding planning,engineering, or legal consultant review)or will <br /> incur in meeting with the Owners,revie ing the plans,and prepa�ing agenda packet mat�ial for City Council review <br /> of application#� - �. Eligible expenses shall be consisteM with expenses the Owners would <br /> be responsible for under a land use application. <br /> 3. MONTHLY BILLING. As the City receives consultant biHs for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shail 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 Owmers do not make <br /> payment to the City within the timeframe outlined in #t3 above, shall cease ail 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. CL031NG ESCROW. The Balance on deposit in the escrow,if any,shall be returned 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 return 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 UMPAID 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 ihe <br /> subject property pursuant to Minn.Stat.§§415.01 and 366.012. <br /> CITY: CITY OF ORONO OWN S: <br /> By: �11�.� By. <br /> Its: Its��� . ' '`�'G <br /> Intemal Use Only: 0 Original to Plartning Deparbnent 0 Copy to Zoning File G Copy to Street File <br /> CUP Application—January 2016 <br /> Page 5 <br />