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Home My WebLink AboutEscrow agreement-2009 <✓1 / �1 �� APPLICATION ESCROW AGREEMENT , Zoning Application #�- ��— ��f �� '� AGREEMENT made this � day of �� , 200�; by and between the CITY OF ORONO, a Minnesota municipal corporation ("City")and Jack W. Safar [a corporation—optional] ("ApPlicant"). Recitals � 1. Applicant has filed Zoning Application #99-' ' —�`�"�� formally requesting the Ciry to review plans for Safar Residence located at 980 Ferndale Road W. the "Subject Property")as more fully shown and described on Exhibit"A"attached hereto. 2. Applicant requests the City to review said plans which requires City approval including Lakeshore SeLback, Hardcover within 75'-0" Variance 3. The City is willing to commence its review of the application and incur costs associated with said review only if the Applicant establishes 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 Applicant shall deposit $2,500.00 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-oi-pocket costs the City has incurred (including planning, engineering, or legal consultant review) or will incur in meeting with the A plicant, reviewing the plans, and preparing agenda packet material for City Council review of application#Q��. Eligible expenses shall be consistent with expenses the Applicant 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 tum send a bill to the Applicant. Applicant shall be responsible for payment to the City within 30 days of the Applicant's receipt of bill. 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Applicant does not make payment to the City within the timeframe outlined in #3 above, the City may draw from the escrow account without further approval of the Applicant to reimburse the City for eligible expenses the City has incurred. The City shall notify the Applicant of such draw and the nature of the expense for which the reimbursement is being made. If the Escrow amount falls below 75% of the original escrow amount the Applicant shall deposit additional sums as directed by the City, or the City shall discontinue all review. 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the Applicant when the review has been completed. 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Applicant, 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. ,',---�'�.. CITY: CITY�IOF OF�@N6� APPLICANT/OWNER: f� � � � ..__ . / 1 ,4 • By: �` � ' _._._-----�.._...... Its: _ ':1� "�;�:`7��'�4� )��/� Its - 10 - STATE OF MINNESOTA ) )ss. COUNTY OF HENNEPIN ) The foregoing instrument was acknowtedged before me this day of , 2008, by , the of the City of Orono, a Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority granted by its City Council. Notary Public STATE OF MINNESOTA ) )ss. COUNTY OFHENNEPIN ) I The fore oin instrument was acknowledged before me this 19� day of I�lQ , 200�, by U�AGk �/1�• �q�aY' ,the husband of /LCi. , e Applicant. � �� SUSAN �wEIR Notary Public r Notary Public-State of Minnesota '�'� My Commission Expires g January 31, 201 1 � STATE OF MINNESOTA ) )ss. COUNTY OF HENNEPIN ) The foregoing instrument was acknowledged before me this day of , 2008, by , the wife of ,the Applicant. Notary Public STATE OF MINNESOTA ) )ss. COUNTY OF HENNEPIN ) This instrument was acknowledged before me this day of , 2008 by [name of officer], the [title of offcer], of [entity's name], a [entiry's designation, e.g. a Minnesota corporation], on behalf of the [entity's designation]. Notary Public - 11 - EXHIBIT "A" LEGAL DESCRIPTION All of the following described tract: Lot 24, "Country Club Estates Hennepin County, Minn.", except that part of said Lot described as follows: Commencing at the most Southerly corner of said Lot 24; thence Northwesterly along the Southwesterly line of said Lot a distance of 26.6 feet; thence Northeasterly deflecting to the right at an angie of 89 degrees and 18 Minutes to the North line of said Lot 24; thence East along the North line of said Lot to the most Northerly corner of Lot 23 in said Country Club Estates, Hennepin County, Minn.; thence Southwesterly along the line between said Lots 23 and 24 to the point of beginning, which lies Southerly of a line drawn from a point on the West line of said Lot distant 205 feet South of the Northwest corner of said lot, through a point on the Southeasterly line of said Lot distant 300 feet Southwesterly of the Northeasterly corner of said Lot. That part of Government Lot 1, Section 2, Township 117, Range 23, described as follows: Commencing at the most southerly corner of Lot 24, "Country Club Estates, Hennepin County, Minn."; thence Northwesterly, along the southwesterly line of said Lot 24, a distance of 26.6 feet; thence Southwesterly, deflecting to left at an angle of 90 degrees and 42 minutes, to the center line of County Road (Orono Road) as shown on said plat and the actual point of beginning of the land to be described; thence continuing Southwesterly, on the same course, to the shore line of Lake Minnetonka; thence Northwesterly, along said shore line, to the intersection with the southerly extension of the west line of said Lot 24; thence Northerly, along said southerly extension, to said center line of County Road (Orono Road); thence Southeasterly, along said center line, to the point of beginning. ALSO, That part of Lot 4, North Shore Cottage Acres Lake Minnetonka, lying Southerly of a line described as follows: Commencing at the northeast corner of said lot; thence South along the east line of said lot, a distance of 487 feet to the actual point of beginning of the line to be described; thence westerly, deflecting to the right 88 degrees 30 minutes, to the westerly line of said lot and there terminating. That part of Lot 5, North Shore Cottage Acres Lake Minnetonka, lying southeasterly of a line drawn from a point on the southwesterly line of said lot distant 90 feet northwesterly from the southeast corner of said lot to an angle point in the east line of said lot distant 99.1 feet northerly from the southeast corner of said lot. That part of Lot 12, North Shore Cottage Acres Lake Minnetonka, and West Ferndale Road (dedicated in said plat as County Road), and accretions to said lot in Government Lot 2, Section 2, Township 117, Range 23, described as follows: Commencing at the intersection of the centerline of said West Ferndale Road with the East line of said Government Lot 2 (which East line has an assumed bearing of North 0 degrees 11 minutes 54 seconds East); thence North 89 degrees 47 minutes 13 seconds West, along said centerline, a distance of 23.00 feet to the actual point of beginning of the land to be described; thence South 0 degrees 11 minutes 54 seconds West, parallel with said east line, a distance of 52 feet, more or less, to the shoreline of Lake Minnetonka; thence southwesterly and westerly, along said shoreline, to the intersection with the southerly extension of the west line of said Lot 12; thence northerly along said West line and its southerly and northerly extensions, a distance of 100 feet, more or less, to the centerline of said West Ferndale Road; thence South 89 degrees 47 minutes 13 seconds East, along said centerline, to the actual point of beginning. Subject to the dedication in said plat to the public of County Road (now known as West Ferndale Road). CONSENT TO ESCROW AGREEMENT Jack W. Safar and , ("Property Owners') are the owners in fee simple of all or part of the property more particularly described in the foregoing Appiication to Escrow Agreement, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, do hereby join in, consent to, and agree to the terms and conditions subject to the foregoing Application to Escrow Agreement. PROPERTY OWNER(S): B : Its: By: Its: STATE OF MINNESOTA ) )ss. COUNTY OF HENNEPIN ) The,for oi�8 instrument was acknowledged before me this � day of �Q , 20�, by JAGk �U � �GiT�Lt� , husband of � , the Property Owners. i ::;��' �u�� . �l�- x SUSAN L WEIR �_. - �Notary Publio-5tate of Minnesota Notary Public ;� ��" ,, My Commission Expires -.�•r:�'`- Jonuary 31, 201 1 _..�, . STATE OF MINNESOTA ) )ss. COUNTY OF HENNEPIN ) The foregoing instrument was acknowledged before me this day of , 20_, by ,wife of , the Property Owners. Notary Public STATE OF MINNESOTA ) )ss. COUNTY OF HENNEPIN ) This instrument was acknowiedged before me this day of , 2008 by [name of officer], the [title of officer], of [entity's name], a [entity's designation, e.g. a Minnesota corporation], on behalf of the [entity's designation]. Notary Public - 13 -