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APPLICATION ESCROW AGREEMENT <br /> Zoning Application# ��ti - �✓�� <br /> AGREEMENT made this + � day of '�7`t�t�i'�0 {Ti, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and j� ✓i i�S `# �'�D✓���^ �d+��'►'�.� <br /> [a corporation—opfional] ("Owner"). <br /> Recitals <br /> 1. Owner has filed Zoning Application# 12 - ��7� formally requesting the City to <br /> review plans for G� C C�Y�� -' Gt U <br /> located at ' � ` <br /> the"Subject Property") as more fully sho n and described on Exhibit"A" attached hereto. <br /> , 2. Owner requests the City to review said plans which requires City approval including i�eL'� I dLr'1 W <br /> ✓.�v�tw �a►n C.�'�v1�z��ev , �►�ct vti� e tr , 9 a ti�, <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Owner establishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCRO FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owner shall deposit $ ��,Uc�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 leaa� rr�nsultant review) or will <br /> incur in meeting with the Owner, reviewing the plans, ai ' aterial for City Council <br /> review of application #_L?� - �. Eligible e; ��Q�j , i �� h expenses the Owner <br /> would be responsible for under a zoning and subdivision aF (JUI, <br /> 3. MONTHLY BILLING. As the City receive: �,Q� r�� . �ts, the City will in turn <br /> send a bill to the Owner. Owner shall be responsible for pa ��� "-� of the Owner's receipt <br /> of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCt •�.Y► `"� )wner does not make <br /> �sza�� <br /> payment to the City within the timeframe outlined in #3 abov scrow account without <br /> further approval of the Owner to reimburse the City for elic �rred. The City shall <br /> notify the Owner of such draw and the nature of the expen; _ is being made. If the <br /> Escrow amount falls below 75% of the original escrow amount the Owner shall deposit additional sums as <br /> directed by the City, or the City shall discontinue all review. <br /> 5. CLOStNG ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owner when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, 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 the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> � , <br /> CITY OF OR �-`� OWNER <br /> , � <br /> r ��� <br /> gy: � �� � _ -- By: � �� � ��� , <br /> its: , � -, . �� its: <br /> Variance Application Updated: January 31,2012 <br /> - 11 - <br />