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t F. <br /> , LAND USE APP T10N ES p�� <br /> A�Itcalton��. <br /> AGREEMENT made this Z2 day of�b .�20 1 S by and beMreen the CITY OF <br /> . ORO�10.a bqru�o�rruu�icipal co�oratlon(•C�)and <br /> [a corp°retio^—�Powners'). <br /> � <br /> 1. <br /> review ptane for a ��d Zon�g A�# 1 S ��S � � � ��, to <br /> Iocated at the iPt�' t <br /> (the'Subkot Prope�)�as — <br /> 2. Owners reque�t U�e City to review seid p18r�s � „ � �� <br /> Ue <br /> ��9�andJor engineering r+ev�w. ^�°� ��I'�P^� and may require �i�IL � <br /> 3• The City is wHling to commence ils review of fhe applfcatfon and incur c�osts aasodaEed with seid <br /> review ordy if the Owne�s esfab�ish an es�xaw to er�sure raimbwsernerH to the City af its�. <br /> ��THEREFORE.THE PARTiES AtiREE AS FOLLOWS: <br /> 1. DEPOSR OF ESCROIN FUND8. Contempcxaneoush' with the execution � this Escrow <br /> AQreemerf�.U�e Owners shaN deposit s��Z wifh ths City. AN accrusd�,if�y.shall be peid to the <br /> City to reirr�burse tl�e City for ffs oost�admin�6ering tl�e escrow a�unt, <br /> 2. PURPOSE OF E8CROW. The pwpose of the espow is to�r�se roimbursement to the City <br /> k�cur rt�eeE�tl�e Ownsrs��q1e�e���'�•����eview)or w� <br /> r+eview of�#� _ _�d'��e�� ��Owners <br /> would be respprx�le for under a Isnd uae applk�tion. <br /> 3. MOIJTNI.Y BIWI�IG. As the C�r+eoeiv�es�blis kor 6�airted coats.the qry�Kili in tum, <br /> sera a cw�m�o,�ers. o�+ers�ae�o�,ror par+�n�o u�e c;�y wn�n ao days or ens ow�ers� <br /> �o�e�. <br /> <. aisauas��r �oM Esc+:ow accou+�r. �� u� �rem m�t u� ow„�do ��e <br /> P�t Eo a�e City witl�a,e tirt�me outl&�ea n#r3��,e.�o�e�1 reviev�s��,e owoers <br /> O��o mre�rse�t to#Ki. The Cily may drsw from the as�xow aocouM witFwut huq�r approvai�tl�e <br /> �Y�e��s sxper�s!he City has�fairted. <br /> 5. Ci.OSMIG ESCROW. 7'he 88�rxoe on depos�in tlie esaaw, if any� �aN be�etumed to the <br /> Owners when aN reW�men�r,�ed to the pr+pjea�e�g, �y 8tatF sttell r+evlew the terrr�s ofi th�e�woi,y <br /> egnaemesi two times p�7�to deterrnine wh�iter ihe r�quk�em�qs of the projetx lfev�e beer� suxessfuqY <br /> oompbted and whether it is aPP►oPriete to retum the lunds. Owner rr�y also request the release M the iunds, <br /> a�such funds sh�be��City Steff reoeiving the ap�r�p�v,�c�tion that�1 tequirements ot the <br /> p�o jec�heve been sucogssfupy�P{�d <br /> 8. CER7iFY UNPA�CMAROEB. N the project ia abandoned bY Owners,or if the eligibie expenses <br /> incurred b the City exceed the amount in escxow.the City shsa have the right to oertify the unPaid balance to the <br /> � a° P�eM to Minn.Stat.§§415.01 and 3gg.012. <br /> ClTY: <br /> OWNER3•�� <br /> By. �' —'T� lWYYc/� <br /> Its: <br /> ns: Ot.��t,�' <br /> Mam.i u:.o�y: o o��m f�.w�,c a copy m zo�,�Fiw o coAy�o sa..e Fu. <br /> Pecket Last Updated.�August 2015 <br /> Pa�e 10 <br />