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� <br /> LAND USE APPLICATI N ESCROW AGREEMENT <br /> Application# � - �LP(P'� <br /> AGREEMENT made this oZ� day of ►'�,4 20 1`1 , by and between t C�TY OF <br /> ORONO, a Minnesota municipal corporation ("Cit� and rr�,�� R�� n� � '� ''" '"� <br /> (�i.`'�`s4k� C�\��.�.k i� ' <br /> [a corporation—optionalJ ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application# - formally requestin the City to <br /> review plans for a - 136 t 1� w' e .vd�ct,��. <br /> located at the property addressed: C � � � � <--����v l� <br /> (the"Subject Propert�r") legally d1escribed as <br /> �t'�' �* 1�1�.'Yi:\l t1f�F v ;lc,C,.'�l�n n �-c, '���(' V i1�Q(�„ (�� 1�'�,r�nF k'b�\tt� �r-a[�� c�.N_ ,�f`�r--� Q��,ah�Q. <br /> T_,� (�r�'{� ti�l�CC���ft�1 Y c•�,�,nr r ^lt,� '� n v�r at lY`���3 Yl�'1�n r�[�G�fiC <br /> 2. Owners request the City to review said plans which requires City approval and may require <br /> consulting legal and/or engineering review. <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 execution of this Escrow <br /> Agreement, the Owners shall deposit$dt5bb 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 Owners, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application#_�{_ - <�_. Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use 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 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 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 /> Owners 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 /> CITY: �TY OF ORONO ' OWNERS: , � <br /> � E =' � ,/ <br /> By: `�-� By: <br /> �ts:_���f�l� � �ts: <br /> Internal Use Only: 0 Original to Finance Departrnent �Copy to Zoning File O Copy to Street File <br /> Packet Last Updated: January 2014 <br /> Page 10 of 25 <br />