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. .� v� <br /> s <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #�_ - ,3 �Z- <br /> AGREEMENT made this �`�day of �ul , 20 �� , by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and �����'L.; ;�- (1i YY1 ; �- IC�� Ctt't.i,�. {- <br /> tCr� �1�%�i��'�-V�� �r�i1�,CiV1L'�-'' <br /> [a corporation- optionaf� ("Owner"). <br /> Recitats <br /> 1. Owner has filed Zq�ing Application # l� - �Jq"�Z formaliy requesting the City to <br /> review plans for C��C.�'YIG� C�� I'll'�� <br /> located at I�l K�� ��.'�.y'r'le�'� i?t �v�. <br /> the"Subject Property") as more`�ully shown and described on Exhibit"A" attached hereto. <br /> 2. Owner requests the City to review said plans which requires City a provai including <br /> r Zv ,��, �-�- �.t�� ��- �t- Gtd��.� � �t�- i��;i�,��� ���u�aM�t��� <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 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 Owner shall deposit $ ` h'� with the City. All accrued interest, if any, shali 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 Owner, reviewin the plans, and preparing agenda packet materiai for City Council <br /> review of appfication #_� - ��- . 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 bifls for incurred costs, the City wiil in turn <br /> send a bill to the Owner. Owner shall be responsible for payment to the City within 30 days of the Owner's receipt <br /> of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not make <br /> payment to the City within the timeframe outlined in #3 above, the City may draw from the escrow account without <br /> further approval of the Owner to reimburse the City for eligible expenses the City has incurred. The City shall <br /> notify the Owner of such draw and the nature of the expense for which the reimbursement is being made. If the <br /> Escrow amount falls below 75°/o of the original escrow amount the Owner 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 /> Owner when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, 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 /> CIT : CIT F OWNER: <br /> � , ;� '� <br /> By: � gy: <br /> Its: Its: <br /> w. .��,._ z ,�.n_-_ _��� ��- �• <br /> - -�„ <br /> e�r a�se 0nly�„�;:<,,�p: ri ��a��;o�F�na��e,par�e;�,b�„w,�L] Copy,y;,toZo,�in�'�ev `` _.Cos,p���f�e�� <br />