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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #11-3515 <br /> AGREEMENT made this (21,9 day of <br /> 91./U1 <br /> , 20 / / , by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("Cityand Gina Paulucci ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application #11-3515 formally requesting the City to review plans for <br /> grading and filling of 501 cubic yards or more located at 320 Woodhill Drive the "Subject Property") as legally <br /> described as Lots 1 and 2, Block 1, Edgewood Place, Hennepin County, Minnesota and Tract 1, Registered Land <br /> Survey No. 1098, Hennepin County, Minnesota. <br /> 2. Owners request the City to review said plans which requires City approval including grading and <br /> filling of 501 cubic yards or more. <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 $700 with the City. All accrued interest, if any, shall be paid to the City to <br /> 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 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 #11-3515. 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, shall 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 the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CIT OF ORONO OWNERS: <br /> By: -I (/.---,---e- _ Bye%& . <br /> Its: Its: <br /> Internal Use Only: fl Original to-Finance Department CI Copy to Zoning File Ciapi:E©4tre Fiie <br />