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F . <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Application# �.3-31Q�R� <br /> AGREEMENT made this�day of S , 2013, by and between the CITY OF ORONO, a <br /> Minnesota municipal corporation ("City") and �r'riti..f r,U�c�c.tC S�rr� <br /> ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application # i3._,3103� formally requesting the City to review plans <br /> for land use a�alications pertaining to 405 North Arm Drive and adiacent qroqerties owned bv the Owners (the <br /> "Subject Property")as more fully shown and described on Exhibit"A"attached hereto. <br /> 2. Owners request the City to review said applications which require City review and/or approval <br /> including comprehensive olan amendment and subdivision/sketch �lan 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 10 000 with the City. All accrued interest, if any, shall be paid to the City to <br /> 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 in reviewing the application including planning, engineering, or <br /> legal consultant review or will incur in meeting with the Owners, eviewing the plans, and preparing agenda <br /> packet material for City Council review of application # i 3` � . Eligible expenses shall be consistent with <br /> expenses the Owners would be responsible for under a land use and subdivision 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 City 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 ORONO OWN . <br /> ry�� ' I ,. <br /> � / <br /> By:_ ���'��� �'�` By,,;� <br /> � � v <br /> �ts: �n��� � By: <br /> �ts: <br /> �� _,.�.�i��a,W:�, ,`�.�i#��1��1���p�� ;;:. �����ta►�������lB : ,: �`�at�►�o�r�ree�.�1e <br />