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_ s <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Application# %� - � <br /> 1� <br /> AGREEMENT made this�day of �l)(--y , 20 � � by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and �I' �/\� � �%'V1 �t`,� <br /> [a corporation–optional] ("Owners"). <br /> Recitals <br /> P1. Owner�s_h�ave�f�il,edGZ�Loning�Applicat'�,on # !� - �J`'� formally requesting the City to <br /> review lans for � '� 6�• (����N�O—�-L,1 r�.)C� <br /> located at � I 3 L C"/���[� C;) (��L� <br /> the"Subject Property") as more fuliy shown and described on Exhibit"A" attached hereto. <br /> 2. Owners request the City to review said plans which requires City approval including !��,��'1`�►!�^�� <br /> ""1""� l�-�(C '' " '� .�J.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 executio� of this Escrow <br /> Agreement, the Owners shall deposit$ `-'1 c� � with the City. Ail 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 ail out-of-pocket costs the City has incurred (inciuding planning, engineering, or legal consultant review) or will <br /> incur in meeting with the Owners, reviewing the plans, and preparing agenda packet materiai for City Council <br /> review of application #�L - �5��f . 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 biils 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 eligibie 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 eligibie expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid batance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY OF ORONO OWNERS: <br /> �� � B ! ���-�Y`�'s--- <br /> By: _ ir/�G��-s�-� A �/'�=� y: <br /> Its: L •�; ���-"'%� By: <br /> � Its: ������ <br /> ... �� <br /> �"� se v� "' �,��"r a�) nance� a e tf �Pro �a Z�n� ''�i�e <br /> � � M.,� �x.�..;, ...�.�,._ _.� g.�:w���..__���?.� ,�""..a.n,..:��._... ��....,. �,�..... .:ns..�R..__.._ '�1�.�:��r,���� <br />