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LAND USE APPLICATION ESCROW A REEMENT <br /> Application #� - 3�3� <br /> AGREEMEPJT made this �� day of ���'Ybrx/,�20 D%� by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and D�tiA �R a�FRr�F.s'��,/iv� <br /> [a corporation — optionalj ("Owner"). <br /> Recitals <br /> 1. Owner has filed �oninQ Application # �(� - 3�"�formally requesting the City to <br /> review plans for /� /(/J� n <br /> located at 3 � �, ;,�,�- <br /> the "Subject Property") as more fully shown and described on Exhibit"A" attached hereto. <br /> _2. Owner requests the City to review said plans which requires City approval including 5�7'� <br /> -GI�Gh Y►PP�(''� �,�t7�►�YIG�J ✓'P�1/i��'1/ <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 ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owner shall deposit $ 2�_ 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. PUf�POSE 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 Owner, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application #�_ - 3�-3�`( Eligible expenses shall be consistent with expenses the Owner <br /> would be 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 Owner. Owner shall be responsible for payment to the City within 30 days of the Owner's receipt <br /> of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not make <br /> payment to the City within the timeframe outlined in #3 above, the City may draw from the escrow account without <br /> further approval of the Owner to reimburse the City for eligible expenses the City has incurred. The City shall <br /> notify the Owner of such draw and the nature of the expense for which the reimbursement is being made. If the <br /> �SCi'v'vv al`iviiie; iai�S �'Jc�O'vJ 7J% Gf t��@ lll'IC�J.ICIdi @S�iUW coiilGUili [�'i@ l)Wll@C shaii �e;�osit additional SUillS 8S <br /> directed by the City, or the City shall discontinue all review. <br /> 5. CLOSING 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 ro erty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CIT OWNE <br /> By: gy: � <br /> Its: Its: <br /> � <br /> Internal Use Only: _ 0 Original to Finance Department ❑ Copy to Zoning File �Copy to Street File <br />