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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application # // - �5�( <br /> l�, <br /> AGREEMENT made this�day of �U �..-y , 20 � �� �" by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and __-]' �Il'1 � t-n:-�i� �� <br /> [a corporation-optionalJ ("Owners"). <br /> Recitals <br /> p1. Owner�sZhive�f�il,edGZa�oniny�pplicaf�,on # /( - �J� formally requesting the City to <br /> review lans for � '� 61--• j�M0��.1 rJC-� <br /> located at 2, I 3 L C"/k�.�G[� G� (�C-1, <br /> the"Subject Property") as more fully shown and described on Exhibit"A"attached hereto. <br /> 2. Owners request the City to review said plans which requires City approval including �,�"Z11Slc��.,�� <br /> -r� i�-� �>-� .�a� .�t�'—�. <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 $ "-'1 c> � 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 pianning, 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 #� - .3 5 a� 1 . 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 biil 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: CITY OF ORONO OWNERS: <br /> / ,1 :' � v j" <br /> � ff <br /> By: ���c-r�-� .,�1 �� F-i� By: �` ' NiY`�d�---- <br /> /, / / �i <br /> Its: L .�-1-f ! �r'%"I�-- By: <br /> Its: �� <br /> Internal Use Only: �Original to Finance Department �Copy to Zoning File � Copy to Street File <br />