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< � <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> 1� Applicati n#10-3486 <br /> 7 <br /> AGREEMENT made this�day of OG , 20 f t� , by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and �� �1tR��/ <br /> [a corporation] ("Owner"). <br /> Recitals <br /> 1. The Owner has filed Zoning Application 10-3486 formally requesting the City to review plans for a <br /> conditional use permit to expand an existing substation located at 3960 Sixth Avenue North, the "Subject <br /> Property") as more fully shown and described on Exhibit"A" attached hereto. <br /> 2. Owners request the City to review said plans which requires City approval including Planninp <br /> staff, Citv enqineer, Planning Commission and Citv Council review of a conditional use qermit aqplication. <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$2,500.00 with the City. All accrued interest, if any, shall be paid to the City <br /> 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 (inciuding planning, engineering, or legal 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 #10-3468. Eligible expenses shall be consistent with expenses the Owners would be <br /> responsible for under a zoning and subdivision 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 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 eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shail be returned to the <br /> Owners when the review has been completed. <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 he unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CI �OF OWNERS: <br /> By: By: <br /> Its: � �Z 'R, ` . ' �'�p� <br /> Sy: � �`"`� <br /> �ts: S�� �. C�� 12� � ��' <br /> ���al�Ise On.ly,_".� "��?'q'Original to Finance Department ` 0 Copy to.Zoning File � Copy to Street File <br />