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L 1 <br /> APPLICATION ESC��V11 AGR� <br /> � Zoning Application#�(�_ , <br /> A I REEMENT made this �N,-�day of '�'A,�3 , 20 I , by and befinr�en the CITY OF <br /> ORONO, a�Minnesota municipal corporation (°City") and �<��r . ' �/���, <br /> [a corporat on—optiona wner�). <br /> Recitals <br /> 1. Owner has fi ed Zoning Appl'cation# �y - ��"��formally requestin� the City to review �. <br /> plans for V �Z Cl/ � �w:i� located <br /> at • � �i the <br /> "Subject P perty") as more fully shown and described on Exhibit"A" attached hereto. <br /> r <br /> 2. Owner requests the City to review s id lans which requires City approval in luding ' ''� � <br /> � <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 cos�s. <br /> NOW THE�EFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. � DEPOSIT OF ESCROW FUN S. Contemporaneously with the execu ion of this Escrow <br /> Agreement the Owner shall deposit $��with the City. All accrued interest, if any shall be paid to the <br /> City to reim�urse the City for its cost in administering the escrow account. ' <br /> 2. � PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reim ursement to the City <br /> for all out-o-pocket costs the City has incurred (including planning, engineering, or legal con ultant review) or will <br /> incur in m eting with t�i��Owner, re iewin the plans, and preparing agenda packet mat rial for City Council <br /> review of a plication#� - %���. Eligible expenses shall be consistent with xpenses the Owner <br /> would be r sponsible for under a zoning and subdivision application. � <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred cost�, the City will in turn <br /> send a bill t�the Owner. Owner shall be responsible for payment to the City within 30 days o the Owner's receipt <br /> of bilL <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Ov�ner does not make <br /> payment to the City within the timeframe outlined in #3 above, the City may draw from the es row account without <br /> further app oval of the Owner to reimburse the City for eligible expenses the City has incur ed. The City shall <br /> notify the ner of such draw and the nature of the expense for which the reimbursement i being made. If the <br /> Escrow am unt falts below 75% of the original escrow amount the Owner shall deposit additional sums as <br /> directed by�he City, or the City shall discontinue all review. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shal� be returned to the <br /> Owner whe�the review has been completed. <br /> 6. ' CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, or if t�e eligible expenses <br /> incurred by�he City exceed the amount in escrow, the City shall have the right to certify the u paid balance to the <br /> subject pro erty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY OF O ONO OWNER <br /> � <br /> By: By: _ <br /> Its: � � Its: <br /> Packet Last dated: 0912013 <br /> ��' Page 10 of 28 <br />