Laserfiche WebLink
� � <br /> LAND USE APPLICAT�N ESCROW AGREEMENT <br /> Application# � f - ��ZQ�7 Y <br /> AGREEMENT made this ?�_day of MA�`I , 20l�, by and befinreen the CITY OF <br /> ORONO, a Minnesota municipal corporation("City")and JJICwD�e'/�A� 1G�1tX �MnL�G <br /> [a corporation—optionalJ("Owners"). <br /> Recitals <br /> 1. Owners have filed„Zoning Application# - formally requesting the City to <br /> review plans for a �0 N <br /> located at the property addressed: • V <br /> (the"Subject Property')legally described as , ( G�-y <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 Ciry of its costs. <br /> NOW THEREFORE, THE PARTIES AGREE AS FOL�OWS: <br /> 1. DEPQSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shali deposit$��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 lega( consultant review)or will <br /> incur in meeting with the Owners, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application#�_ - �. 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 bilts for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible fior payment to the City within 30 days of the Owners' <br /> receipt of bilL � <br /> 4. DtSBURSEMENT 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 retumed to the <br /> Owners when the review has been completed. <br /> 6. CERTIFY UNPAtD 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 praperty pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: C TY OF C'�RONO OWNERS: <br /> By: � gy, <br /> Its: ��kt��� 1 uJ Its: f <br /> lntsr��tl"U�e Only: Gt,Or�gIn811�ca:�i�cc��epa�ktrae�t ��+apy:to�Ze�r�i�g�ile O Copy��o'S#reet-fFle <br /> Packet Last Updated: March 2014 <br /> Page 10 of 27 <br />