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' � � � � � r�i o��I �ni,c.f ��l,v 20!3— O�9 7 �f <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Application#�_- ��0�0/ <br /> AGREEMENT made this � day of �A:r� , 20 ��, by �nd between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City")and �i�;� �.(.L/ �V�f'1e <br /> [a corporation—optionalJ ("Owners"). <br /> Recitals <br /> 1. O�(ners have filed Zo in �4pplication# - formall rePuesting the City to <br /> review plans for a I �l Q� (I' (� <br /> located at the property addressed: •l <br /> (the"Subject Property") legally,described as ��f d� <br /> K N- �tncJte ' <br /> c e r��c.c. <br /> 2. Owners request the City to review said plans which requires City approval and may require <br /> consulting legal and/or engineering review. <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Owners establish 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 Owners shall deposit$ Z�,Q(�with the City. All accrued interest, if any, shall 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 Owners, reviewin the plans, and preparing agenda packet material for City Council <br /> review of application#��3"+�7�/�lS��� Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use 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 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 Ciry within the timeframe outlined in #3 above, shall cease all reviews until the Owners pay all <br /> expenses invoiced 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 City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned 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 shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY OF ONO . OWNERS: <br /> Scort �n/1N� <br /> By:�i��� , By:X <br /> its: l��n�� Cao►�d.l� its: oWN�� <br /> �.j���j ,�� !'''' ` � a h I��o'�' a k �1���� �'� �.� <br /> Packet Last Updated: January 2014 <br /> Page 10 of 27 <br />