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" LAND USE APPLICATIQN ESCROW AGREEMENT <br /> Application# ��} �Cv l�5� <br /> AGREEMENT made this oZ� day of fi ,� 20 1`i , by and between t CITY OF <br /> ORONO, a Minnesota munici al co oration Cit and „ Y , c , �'' <br /> P rP �� � C�.—��11,�C1-C� <br /> (�r`�J.c� Ct.'l��s.,.�� � <br /> [a corporation–optionaQ ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application# - formally requestin the� City to <br /> review plans for a ` 6 � l�k Y � V('�(OL�,�, <br /> located at the property addressed: c o� C���r l, <br /> (the"Subject Propert�') legally described as � <br /> ��" '� \� �A�.�\D.f�Fil Qc�C���`n� '�c� "��I�l' V i1�QG�,s�' r'M'��nh -F�6�\ �. 1�atzcj� Gr�eL. ,'C]C�v�- aV'la��c <br /> C��n.�`�C.(,N,n'� ti�f,�CC��fc�_ Y cti11.��n�1 r^!��_r�n v� -.�t Y� 2`�►��1., Yb'1�n i'�So 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 PARTtES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$0��560 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#rom 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.rig�it_to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat.§§415.01 and 366.012. -�' � � <br /> `, <br /> CITY: TY OF ORONO ��' OWNERS: \ <br /> By: r"� By: <br /> Its: �, p I V Its: <br /> 1t►ternal Use Only: �Original to Finance Departrnent 0 Copy to Zoning File O Copy to Street File <br /> Packet Last Updated: January 2014 <br /> Page 10 of 25 <br />