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�� '" LAND USE APPLICATION ESCROW AG EEMENT <br /> Application #� - ��P <br /> AGREEMENT made this 2 Z day of ����'� , 20 �3 , by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and � fGt�t'1 CS It� u v�o{�y <br /> [a corporation—optional� ("Owners"). <br /> Recitals <br /> 1. Owners have filed Zoning Application# 1 � - �7�'� formally requesting the City to <br /> review plans for � (�'r Li� ��-�ru�ri�trY�a�' <br /> located at '7� n(� r 3v !�V �'V� GI�G� ,t <br /> the"Subject Property") as more fully shown and described on Exhibit"A" attached hereto. <br /> 2. , Owners request the City to review said plans which requires�ity approval including <br /> 'r�1 CLr1 v�r vtei , -.P yvtc�rt t�-�-�Yt'v�� f eri�.,l� v���� e r.c� <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 FU�S. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit$�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 atl 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 #�� - _��. Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a zoning 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 untif 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 incu�red. <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 /> � <br /> CITY: CITY OF RONO OWNE : <br /> By:�� By: <br /> �ts: 1 i�h � C�r�l l,�c�'�i Y By. <br /> �ts: <br />