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. , <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #�_- 3�Cq <br /> AGREEMENT made this � day of 1 , 20�, y and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") VQ,V� ��L1 <br /> [a corporation- optionalj ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zonin Application # ��}' - 3�Q�q formally requesting the City to <br /> review plans for a tG�. � �a�' �c <br /> located at the property addressed: Z.410 �.�✓h.la'l S <br /> (the "Subject Propert�') legally described as <br /> 2. Owners request the City to review said pians which requires City approval and may require <br /> consulting legal and/or engineering review. <br /> 3. The City is wiiling 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 $ ,�10,_with the City. All accrued interest, if any, shali 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 consuttant review) or will <br /> incur in meeting with the Owners, reviewing the plans, and preparing agenda packet material for City Councii <br /> review of application # �4' - fD3 F9 . Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use 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 outiined 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: CITY OF ORONO OWNER : <br /> By:\-��►'�l��l� BY� • <br /> Its: 4 1`�2.)� Its: <br /> Inxernal`Use D.nly: O Original to Finance Department O Cqpy to Zoning File ❑ Copyto.Street File <br /> Packet Lasf Updated: March 2014 � <br /> Page 10 of 27 <br />