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� �I mV�lood 11�t. <br /> , <br /> LAND USE APPLI ATION ESCR �GB EEMENT <br /> Appllcation#�_- �j <br /> AGREEMEfVT made this "�Oday of �(�� 20,�, by d betwee the CITY OF <br /> ORONO, a Minnesota municipal corporation('City')and <br /> (a corporation—optiona!] ("Owners"}. <br /> Re I als <br /> 1. Owners have filed Zon3ng Applica ion# �� - �?5 fo�ally r uesti th City to ` <br /> review plans for a a� a� 6 !. ,�,-114nce f' �- D s�y C' 1rq�'�r�, <br /> located at the property addressed: — ,,.. � � — <br /> (the"Subject Pr e��y")legal descrlbed as ' ` <br /> t <br /> 2. Owners request the Clty to revlew sald plans which requlres Ciry approval and may require <br /> consulting legal and/or engineering review. <br /> 3. The City is willing to commence its revfew of the application and incur costs associated with sald <br /> review only if the Owners estabfish an escrow to ensure reimbursement to the City of its cosfs. <br /> NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUN�S. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$��with the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse fhe 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 th wners, r i in the plans, and preparing agenda packet materlal for City Counci( <br /> review of appilcation #� - '��Q��. Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use app(ication. <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 untll the Owners pay all <br /> expenses invaiced 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 Ciiy has inc�rred. <br /> 5, CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be retumed 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 shalf have the right to certify the unpald bafance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY; CITY OF ROHO � OWNE S: <br /> By: gy; <br /> Its: C� Its: � <br /> . . . .... . <br /> Internal. se.Only: ... O 4ri�lnal,to.Flnanc�.Department., .__,:O.Cppyto�ohi�g Flle:,: ._ . .:G Copyto Street Flle <br /> Packef Last Updated: March 2014 <br /> Pege 10 of 27 <br />