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� <br /> ./ . <br /> � <br /> APPLICATION ESCROW AGREEMENT <br /> Zoning Application # l 1 - ���� <br /> AGREEMENT made this �i�' day of M�✓ , 201j_, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation (°City") ar�d L,n �z A• 1�/��t„�Ka . fd��,+��,����t -�;��1 <br /> r����,- <br /> [a corporation—optional] ("Applicant"). <br /> Recitals <br /> 1. Applicant has filed Zoning Application# r� - �v� formally requesting the City to <br /> feVl@W p�2�1S fOf - Ar ��� i C x?�-7�t? i�'�+�` �J cac����14r' il. nr,r„� '_x"'?'e�,�, d G Iyr'i�� e X.-fe'I�tt��� id�NO.�K 0►' <br /> located at 2e�� ��c: ,>=tree '��-• � ��;� ' drtveWa ex.�Fensien,�a <br /> the"Subject Property") as more fully shown and described on Exhibit"A" attached hereto. 9"'' �M f e <br /> 2. Applicant requests the City to review said plans which requires City approval including - � v`��� <br /> frr � �'�1ri�,n�- t .>t-h�K reci�i�ren��,�f� <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Applicant 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 Applicant shall deposit $ 2,�eC with the City. All accrued interest, if any, shall be paid to <br /> the 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 A plicant, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application# �� - ��. Eligible expenses shall be consistent with expenses the <br /> Applicant 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 Applicant. Applicant shall be responsible for payment to the City within 30 days of the <br /> ApplicanYs receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Applicant does not make <br /> payment to the City within the timeframe outlined in #3 aboae, the City may draw from the escrow account without <br /> further approval of the Applicant to reimburse the City for eligible expenses the City has incurred. The City shall <br /> notify the Applicant of such draw and the nature of the expense for which the reimbursement is being made. If <br /> the Escrow amount falls below 75% of the original escrow amount the Applicant 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 /> Applicant when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Applicant, or if the eligible <br /> expenses incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid <br /> balance to the subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY OF @,R�1�10 APPLICANT/OWNER: <br /> , + � /,�- <br /> gy; By,�,�,t� c� �L�-GLv1��/ _ <br /> Its: C ' ' �r����� Its: ���.�.r� .a��r�i. �,v-r.�r�rJ <br /> MAY 16� ���+ <br /> ..f�,.;� <br /> � . <br /> CIT`t�F 06�C7C�10 ,�i.,�. <br /> ��� f�,,�;;� <br />