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<br />LAND USE APPLICATION ESCROW AGREEMENT <br />Application #16-3830 <br /> <br />AGREEMENT made this ______ day of , 20____, by and between the CITY OF <br />ORONO, a Minnesota municipal corporation (“City”) and Tim Druk (“Applicant”). <br /> <br />Recitals <br /> <br />1. Applicant has filed Land Use Application #16-3845 formally requesting the City to review plans for <br />construction of a new residence requiring variances , located at 1240 Arbor Street (the “Subject Property”) legally <br />described as: Lots 6 and 7, Block 1, MAXWELL’S ADDITION TO CRYSTAL BAY, Hennepin County, <br />Minnesota; aka PINS 10-117-23 31 0099. <br /> <br />2. Applicant requests the City to review said plans which requires City approval including variances <br />involving city engineering, legal and planning review. <br /> <br />3. The City is willing to commence its review of the application and incur costs associated with said <br />review only if the Applicant establishes an escrow to ensure reimbursement to the City of its costs. <br /> <br />NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: <br /> <br />1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br />Agreement, the Applicant has deposited $2500.00 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 /> <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 legal consultant review) or will <br />incur in meeting with the Applicant, reviewing the plans, and preparing agenda packet material for City Council <br />review of Land Use Application #16-3845. Eligible expenses shall be consistent with expenses the Applicant <br />would be responsible for under a zoning land use application. <br /> <br />3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br />send a bill to the Applicant. Applicant shall be responsible for payment to the City within 30 days of the <br />Applicant’s receipt of bill. <br /> <br />4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Applicant does not make <br />payment to the City within the timeframe outlined in #3 above, City shall cease all reviews until the Applicant pays <br />all expenses invoiced pursuant to #3. The City may draw from the escrow account withou t further approval of the <br />Applicant to reimburse the City for eligible expenses the City has incurred. <br /> <br />5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br />Applicant when the review has been completed. <br /> <br /> <br /> <br />CITY: CITY OF ORONO Applicant: <br /> <br />By: By: <br /> <br /> <br />Its: Its: <br /> <br /> <br /> <br />Internal Use Only:  Original to Finance Department  Copy to Zoning File  Copy to Street File <br />