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T • , ., <br /> LAND USE APP�ICATION ESCROW AGREEMENT <br /> Application# /.5 __ 3 735 <br /> AGREEMENT made this 21 day of_Aprit , 20 I 5 . by and between ihe CI7Y OF <br /> ORONO,a Minnesota municipal corporation('City")and�BRYAN K &RYNFI.I.FRFFf A1��D <br /> {a corporation—opfionalJ("pyvners'). <br /> Recitals <br /> 1• Owners have filed Zoning Applicatian#� - �7� formaUy requesting the City ta <br /> review plans for a <br /> bcated at the property addressed: 10 Mvrtl .w�od Rd <br /> (the`Subject Property')Iegally descnbed as Mvrtlewood Lot OOi $lock 001 <br /> 2• O�me�s request the City+ to review said plans wh�ch requ'ues City approval and may require <br /> consuRing legal and/or engineering review. <br /> 3. The City is willing to commence ifs review of the application and'mcur cas#s associated with said <br /> review nn�Y i�the Owt►ers establish an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLIOWS: ' <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with tfie execution of this Escrow <br /> Agreement,the Owners shall deposik$_2,500.00 with the C�y. A11 accrued iMerest,if any,shall be paid to the <br /> City to reimburse the City for its cos!in administe�ing the escrow accouM. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is ta guarantee reimbursemerrt to the City <br /> for all out-of-pocket costs the City has incuned(including planning,engineering,or legal consultant review)or will <br /> incur in meeting with the Owners, reviewi� the plans, and preparing agenda packet material far City Councit <br /> review of application# �•S 3 7 3� , Eiigible expenses shall be consisteM with expenses the Owners <br /> would be responsibls for under a land use appEication. <br /> 3. MONTHLY BiLI.ING. As the City receives consultaM bilts for incuRed costs,the Ciry will in tum <br /> send a bill to the Owners. Owners shaU be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bifl. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make <br /> paymeni to the City within the timeframe outlined in #3 above, shall cease atl reviews until the Owners pay all <br /> expenses invoiced pursuant to#3. The City may draw from the escrow account without funher approval of the <br /> Owners to reimburse the City for eligible expenses the City has incuRed. <br /> 5. CIOSING ESCROW. The Salance on deposiE in the escrow, if any, shall be retumed to the <br /> Owners when aA requirements related to the project are complete. City Staff shall review the terms of this escrow <br /> agreement two times per year to determine whether the requirements of the project ttiave been succe$$fu��y <br /> c�mpleted and whether it is appropr�ate to retum the funds. Owner may also requesf the relsase of the funds, <br /> and such funds shall be released upon City Statf receiving ihe appropriate ve'r�"ication that all requirements of the <br /> projeci have been successfu!!y completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by(?wners,or if the eGgible expenses <br /> incurred by the City exceed the amount in escraw,the City shatl have the rigM to ce�tify the unpaid bala�ce to the <br /> subject property pursuant to Minn.Stat.§§415.01 and 366.012. <br /> CITY: CITY OF OR�NO OWNERS: <br /> By: lr . gY;� <br /> Its: r (�� ��: owners <br /> (ntemai Use On ��:,�x,�d OH fnal to Finance <br /> h►` . 9 Deparfinent :'`°..��D Copy to Zoning File .';,.x:` O Copy�Stroet Fil� <br /> pedcet Last Up�ted' January 2015 <br /> Paqe 10 <br />