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APPUCATION ESCROW AGREEMENT <br /> Zoning Apptication#�� - � <br /> AGREEMENT made this 18th day of January , 20 12 , by and between the CITY OF <br /> ORONO,a Minnesota municipa!corporation("City')and <br /> John c�.Pam=B�ile�,�07 Casco Point Road,Orouo,I�41�T 5�391 <br /> [a corporation—opfionalj("Appiicant"). <br /> Recitats <br /> 1. Appficant has fifed Zoning Applicafian# { Z -�_`� forma(ly requesting the City to <br /> review ptans for SCKEF'�'�ED 1'ORCH ADDI"fI(�\ FOR JO�L�AND P.�TI'��B.�ILES� <br /> located at �d��n�'��t Road,Orono,hiN 55391 <br /> the"Subject PropeRy')as more futly shown and described on Exhibit"A"attat�►ed hereto. <br /> 2. App(icant requests the City to review said plans which requires City approval inctuding <br /> Variance Application <br /> 3. The Gity is willing to commence its review of the application and incur costs associated with 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. DEPOSfT OF ESCROW FUNQS. Contemparaneously with the execution of this Escrow <br /> Agreement, the Appficant shall deposit$ ?500.(Xl with the City. Alf accrued interest, if any, shall be paid to <br /> the City to reimburse the City for its cost in administering tfie escrow account. • <br /> 2. PURPOSE OF ESCROW. The purpose af the escrow is to guarantee reimbursement ta the City <br /> for atl out-ofi-pocket costs the City has incurred {induding pfanning,engineering,or legal cansultant review)or wilt <br /> incur in meeting with the Applicant, reviewing the ptans, and preparing agenda packet materiaf for City Cauncil <br /> review of application# I 2 - �c - Eligibfe expenses shall be consistent with expenses the <br /> Applicant would be responsible for under a zoning and subdivision appiication. <br /> 3. MONTHLY BILLtNG. As the City receives consultant bil}s for incuRed casts,the City will in tum <br /> send a bill to the Applicant Appiicant shall be responsible for payment to the Ciry within 30 days of the <br /> ApplicanYs receipt of bill. <br /> 4. DtSSURSEMENT FROM ESCROW ACCOUNT. in the event that the Applicanf does not make <br /> payment to the City within the timeframe outlined in#3 above,the City may dcaw from the escrow account without <br /> further approval of the Applicarrt to reimburse the City for e{igibie expenses the City has incurred. The City shal! <br /> notify the Applicant of such draw and the nature of the expense for which the reimbursement is being made. tf <br /> the Escrow amount falls below 75% of the original escrow amount the Appi'�cant shall deposit addi6onaf sums as <br /> directed by the City,or the City shal!discontinue alf review. <br /> 5_ CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Appiicant when the review has been completed. <br /> 6. CERTIFY UNPA{Q CHARGES. tf the praject is abandoned by Applicant, or if the e(igible <br /> expenses incurred by the City exceed the amount in esaow, the City shall have the right to cerfify the unpaid <br /> balanc the subject property pursuant to Minn.Stat.§§415.01 and 366.Q12. <br /> �� �--� . <br /> GITY: , �ORONO APPLtCANT � i�/"� /�� <br /> By. By: � <br /> Its: its: �uJ/''!c� �' <br /> -t0- <br /> RECEIVED <br /> JAN 18 2012 <br /> CITY OF ORONO <br />