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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #�_ - �� <br /> AGREEMENT made this 3N day of OV�w�'�3k(!` , 20� by nd between the C�TY OF <br /> ORONO, a Minnesota municipal corporation ("City") and K.ei.{f �. �,' ��si <br /> – ("Owner"). <br /> Recitals <br /> 1. Owner has filed Zoning Application # ��_forma ly requesting the City to <br /> review plans for �10 C 5�� �e � �; � ' <br /> located at O Pa%u a- t�U� 01 �- ` <br /> the"Subject Property") as more fully shown and descri ed on Exhibit"A" attached hereto. � <br /> 2. Owner requests the City to review said�lans which re�q uires Ci y approval including � <br /> _a-p4V'UI,G�� �r1�'tt�VGW'[Cf,122�C. �hr'J►'Yl �►��'1.�4h1�U11 �fIT tU�`G�� 1�`�� �(.�(/��°vh�vL—�5 <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. DEP�SIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owner shall deposit $ S��OD 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 the Owner, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application # - Eligible expenses shall be consistent with expenses the Owner <br /> would be responsible for un er a zoning an subdivision application. <br /> 3. i�IIONTHLY BILLING. As the City receives consuitant 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 falls below 75% of the original 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 /> � . ' <br /> CITY: CIT,X F ' OWNER: <br /> : �� j� <br /> sy; ���_. By: i, r <br /> ; <br /> its: its: <br /> Internal Use Only: �Original to Finance Department 0 Copy to Zoning File O Copy to Street File <br />