HomeMy WebLinkAboutescrow agreement LAND USE APPLICATION ESCROW AGREEMENT
Application #�� - �-l��
AGREEMENT made this��day of i� I , 20 l� , by and between the CITY OF
ORONO, a Minnesota mun�j�cipal corporation ("City") and � Qu�n W Sc/2r�ss�er CZnc�
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("Owners").
Recitals
1. Owners have filed Zoning Application # l�3 - �"��( formally requesting the City to
review plans for a detached garage_ located at 1935 Concordia Street (the "Subject Property") more fully shown
described as Lot 12, Fagerness, Hennepin County, Minnesota.
2. Owners request the City to review said plans which requires City approval including variance.
3. The City is willing to commence its review of the application and incur costs associated with said
review only if the Owner estabiishes an escrow to ensure reimbursement to the City of its costs.
NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow
Agreement, the Owners shall deposit $2,500 with the City. All accrued interest, if any, shall be paid to the City to
reimburse the City for its cost in administering the escrow account.
2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City
for all out-of-pocket costs the City has incurred (including planning, engineering, or legal consultant review) or will
incur in meeting with the Owner, reviewing the plans, and preparing agenda packet material for City Councii
review of appiication #�0 - .�1�� . Eligible expenses shall be consistent with expenses the Owner
would be responsible for under a zoning and subdivision application.
3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn
send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners'
receipt of bill.
4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make
payment to the City within the timeframe outlined in #3 above, shall issue a Stop Work Order until the Owners pay
all expenses invoiced pursuant to#3. The City may draw from the escrow account without further approval of the
Owners to reimburse the City for eligible expenses the City has incurred.
5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the
Owner when the review has been completed.
6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses
incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the
subject property pursuant to Minn. Stat. §§415.01 and 366.012.
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CITY: C1TY OF-ARONO OWNERS:
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Internal Use Only: 0 Original to Finance Department � Copy to Zoning File �,,0'Copy to Street File