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APPLICATION ESCROW AGRE MENT� <br /> Zoning Application# ,���� - �� <br /> �-v� <br /> AGREEMENT made this �� day of �� , 20�, by and between the CITY OF <br /> + '/'f'.( /.�i/�'-./•'C <br /> ORON p,�a Minnesot municipal corporation ("Citv") and 1 �,l% � ��'1)� �j'.� <br /> I�i�'F��P,r��� ��C'�G�'�.� ��� <br /> [a corporation—optional] ("Owner"). <br /> Recitals <br /> 1. Owner has filed Zg�,ing Appiication #� - �i�'� formally requesting the City to review <br /> plans for (.� (J ��� ��� hJ� located <br /> at �i(� `'�� ( =l/�J��l� �l�i��� l� -- -the <br /> "Subject Property") as more fully sho n and described on Exhibit"A" attached hereto. <br /> 2. O nce�r requests the City to review said plans which r��uires City approval including <br /> LZ-� �-� �c�f �";c:�7 ;it '�x 1`?t";;��� I'�CrY� ` �s'>`f�•�'f�'1 i Y)L`j �!-`=`'� <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Owner establishes 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 Owner shall deposit $ �.� 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 planning, engineering, or legal consultant review) or will <br /> incur in meeting with thg Owner, r�view�jig the pians, and preparing agenda packet material for City Council <br /> review of application # � 1L - �?✓J� . Eligible expenses shall be consistent with expenses the Owner <br /> wouid be responsible for under a zoning and subdivision appiication. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owner. Owner shall be responsible for payment to the City within 30 days of the Owner's receipt <br /> of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner 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 /> further approval of the Owner to reimburse the City for eligible expenses the City has incurred. The City shall <br /> notify the Owner of such draw and the nature of the expense for which the reimbursement is being made. If the <br /> Escrow amount fall� below 75% of the originai escrow amount the Owner 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 /> Owner when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, 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 OF ORON OW <br /> .������� . - � { �� <br /> By: BY� � �' <br /> ' ` <br /> Its: :�� , �'l./�l l�Cl"� 'a� L � ��C'�1� Its: <br /> Packet Last Updated: 03/29/13 <br /> Page ?0 of 31 <br />