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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application #�� - `'3�`—"J <br /> AGREEMENT made this l� day of v��►F U GUl , 20 �� by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and �'(��vG� � l��l,W�jGr/1.�( ,S'��j1so�1i1 <br /> [a corporation—optionalj ("Owner"). <br /> Recitals <br /> 1. Owner has filed Zonin Application # �U - �j �� formally requesting the City to <br /> review plans for � � <br /> located at 1 tit <br /> the"Subject Property") as more ful�y shown and described on Exhibit"A" attached hereto. _ <br /> 2. Owner requests the City to rev ew said plans which requires City approval including ������ <br /> -� �'l(A�-G�,�U1tiP�V � �i l,(� � (��G ��'bGc.-G� <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Owner establishes 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 Owner shail 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 (induding planning, engineering, or legal consultant review) or wilf <br /> incur in meeting with the Owner, revi win the plans, and preparing agenda packet material for City Counci! <br /> review of application #�� - _��. Eligible expenses shall be consistent with expenses the Owner <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 wiil in turn <br /> send a bill to the Owner. Owner shall be responsible for payment to the City within 30 days of the Owner's receipt <br /> of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owner does not make <br /> payment to the City within the timeframe outlined in #3 above, the City may draw from the escrow account without <br /> further approval of the Owner to reimburse the City for eligible expenses the City has incurred. The City shall <br /> notify the Owner of such draw and the nature of the expense for which thte reimbursement is being made. If th2 <br /> Fc�rn�ni amr�iint f?Ilg hcln;n� ?Fo/ �f thc ��;�inal ocrr��ni ?m��int tro (l.ninor �h��l rlcrngrt a,Cir�jl}lC!lc''.� 8!!:'''''� �.", <br /> directed by the City, or the City shall discontinue all review. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owner when the review has been completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owner, 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 /> CI : C TY F NO OWNER: �.u�.,� <br /> By: By: �� <br /> Its: ?� ��C���"���ts: C�W N C�.v'.r <br /> i5 zo�o <br /> � � �.� <br /> Internal Use Only: O Original to Finance Departrr,���c�C�ppy,to Zoning File o S et �I <br /> �,:� UPaU <br />