Laserfiche WebLink
APPLICATION ESCROW AGREEMENJ ���,..� <br /> Zoning Apptication #� - � <br /> � –'.._j-- <br /> AGREEMENT made this � h day of —:•`-a"��^A'� `� , 20 /�- , by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and <br /> '��-�� �� S--<,�� � <br /> [a corporation–opfionalJ ("ApplicanY'). <br /> Recitals <br /> 1. Applicant has filed Zoning Appficafion#�� - �`�formally requesting the City to <br /> review plans for fi�+l1V � <br /> focated at 'i ��� � V �1 e r�, Cj��"�Yl��`1 ��;�� �l <br /> the"Subject Property")as more fulfy sho n and de -ribed on Exhibit"A�' attached hereto. <br /> 2. Applicant requests the City to review said plans which requires City approval including <br /> 3. The City is willing to commence its review of the application and incur costs associated witn said <br /> review only if the Applicant establishes an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br /> 1. 'DEPQSIT OF ESCROW FUNDS. Contemp�raneously with the execution of this Escrow <br /> Agreement, the Appficant shall deposlt $��with the City. All accrued interest, if any, shall be paid to <br /> the City to reimburse fhe City for its cost in adminlstering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guacantee reimbursement to the City <br /> for al! out-af-pocket cests the City has incurred (including planning, engineering, or legal consultant review)or will <br /> incur in meeting with the Applicant, revie i g the plans, and preparing agenda packet materlal for City Council <br /> review of appfication # l Z. - G ' Eligible expenses shall be consistent with expenses the <br /> Applicant would be responsibfe for under a zoning and subdivision application. <br /> 3. MOfVTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Applicant. Appficant shall be responsible for paymeni to the City within 30 days of the <br /> Applicant's receipt of bill. <br /> 4. DISSURSEMENT FROM ESCROW ACCOUNT. fn ihe event that the Applicant 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 /> furtner approval of the Applicant to reimburse the City Tor eligibfe expenses the City has incurred. The City shall <br /> notify the Applicant of such draw and the nature of the expense for which the reimbursement is being made. If <br /> the Escrow amount falls beiow 75% of the original escrow amount the Applicant shall deposit additional sums as <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 /> App(icant when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Applicant, or if the eligible <br /> expenses incurred by the City exceed the amount in escrow, the Ci'ty shall have the right to certify the unpaid <br /> baiance e subject property pursuant to Minn. Stat, §§4'!5.01 and 366.012. <br /> , ___ <br /> CfTY: CI F O APPLICANT 1 �WN�R: <br /> gy: �� i r �--� _�`.----,,.� <br /> 1�\� /�� By: i�� � } <br /> r `-' <br /> Its: _�--�:'!,� n..� '`'`' ..�- Its: <br /> ' <br /> -1G - <br />