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w . � <br /> LAND USE APPLICATION ESCROW AGREEMENT <br /> Application# �3-,3Lna� <br /> AGREEMENT made this (� day of , 20 �?J, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation("Cit�')an ve� ��G <br /> [a corporation—optionaQ (°Owner"). <br /> Recitals <br /> 1. Ovmers have filed Zoning Application # formally requesting the City to <br /> review plans for l��sC. ►� — Ob , <br /> located at la o V 0� N D <br /> the"Subject Property")as more fully shown and described on Exhibit"A°attached hereto. <br /> 2. Owners request the City to revie said plans w ich requir s City approval inciuding l S�ua�c�e,, 8�' <br /> C��difinvw� �l�cc, �Perr��r � 1 a� n� (�� o� v��c, �1-PnaM. soD c�v. .�d�, <br /> 3. The City is willing to commence its review of the appiication 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$ -1O�,� with the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse the Ciry for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the Ciry <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, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application # l 3-3(�a� . Eligible expenses shall be consistent with expenses the <br /> Owners would be responsible for under a zoning and subdivision application. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the Ciry will in tum <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 alf <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 UNPAID CHARGES. If the project is abandoned by Owners,or if the eligible expenses <br /> incurred by the City exceed tlie amount in escrow, the Ciry 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• TY E ORONO OWNERS: w r Yt9�U/}ieS� L � C <br /> By: By: l� l�a <br /> • � �...s�,��f-�.cA,t...�.c . <br /> Its: tXM v �� Its: <br /> Pedtet Last Updated.• 03/29h3 <br /> Page 10 of 29 <br />