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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #�� - �-l�� <br /> AGREEMENT made this��day of i� I , 20 l� , by and between the CITY OF <br /> ORONO, a Minnesota mun�j�cipal corporation ("City") and � Qu�n W Sc/2r�ss�er CZnc� <br /> �(.tnhi� �• /SYQ✓! <br /> ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application # l�3 - �"��( formally requesting the City to <br /> review plans for a detached garage_ located at 1935 Concordia Street (the "Subject Property") more fully shown <br /> described as Lot 12, Fagerness, Hennepin County, Minnesota. <br /> 2. Owners request the City to review said plans which requires City approval including variance. <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 estabiishes 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 $2,500 with the City. All accrued interest, if any, shall be paid to the City to <br /> 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 Councii <br /> review of appiication #�0 - .�1�� . Eligible expenses shall be consistent with expenses the Owner <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 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 issue a Stop Work Order until the Owners pay <br /> all 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 /> Owner 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 /> /^' <br /> CITY: C1TY OF-ARONO OWNERS: <br /> ;��,1 � � <br /> � f/ �--_.. __. � f ��/ / / <br /> BY: `'r'`-�i� �/�� V'�11 l/V • GGC�SsI,� <br /> �ts: �--� �.; ���� � ,� h� �. � y�. � <br /> -�:�;� <br /> Internal Use Only: 0 Original to Finance Department � Copy to Zoning File �,,0'Copy to Street File <br />