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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #�_ - 3 5 '� <br /> AGREEMENT made this 2�� day of ��'t- L� , 20 � � , by and between the CLTY OF <br /> ORONO, a Minnesota municipal corporation ("City") and �-C4�(�f � ��-��� �/j/�v,��- o� <br /> [a corporation—optionalJ ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zonin A lication # � �'�J2� <br /> g pp - formally requesting the City to <br /> review plans for 1/�'� � �C'� <br /> located at I '3�1 (.P (�Gt.-I ��---' <br /> the"Subject Property") as more fully shown and described on Exhibit"A" attached hereto. <br /> �`���0(wners request the City to review said plans which requires City approval including _����G" � <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 $ �I L� r 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 legal consultant review) or will <br /> incur in meeting with the Owners, reviewi�ng�the plans, and preparing agenda packet material for City Council <br /> review of application # l 1 - 3cj 7�(> . Eligible expenses shall be consistent with expenses the Owners <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 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 shali have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY• TY OF ORON OWNERS: <br /> By: gy; s ` ,,� <br /> � \ � <br /> �tS: � �N a.`Uc� ��-'� ��`�-c� ! By: 1/"- <br /> Its: <br /> ��,g��"�I „se pr�ly, ��.Q�Q��giraal��o�nance:Department G Copy to Zoning File =.�,��q��o„.�t�?ee�'��e <br />