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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application # j Ca - ��-2- <br /> AGREEMENT made this ��J�� day of �E('��'y1k�S-i� , 20�`� , by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and -k�.e ' �� Cc_hd c 1 <br /> [a corporation -optional] ("Owner"). <br /> Recitais <br /> 1. Owner has filed Zoning Application # IO - �`-�'�- formally requesting the City to <br /> review plans for_ � Cc,�d'� �-��n a l 1.��� Pe.��.:�k <br /> located at Z�ga ��r-t�., ,�hD,-�, �pY,v-e_ , Dror.o.� �N1 N <br /> the"Subject Property") as more fully shown and described on Exhibit"A" attached hereto. <br /> 2. Owner requests the City to review said plans which requires City approval including <br /> ��,r,r9'��Dr.� 4 `A-x ���rrc,'� k <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 shall deposit $ `� ot� 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 (including planning, engineering, or legal consultant review) or will <br /> incur in meeting with the Owner, reviewing the plans, and preparing agenda packet materiai for City Council <br /> review of application #� - � L Z . Etigible expenses shail 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 wili 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 the reimbursement is being made. If the <br /> Escrow amount fails below 75% of the original escrow amount the Owner shall deposit additional sums as <br /> directed by the City, or the City shail 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 /> CITY: CITx OF�.t�QNO OWNER: <br /> . � �._... a�4� <br /> .�' ' . <br /> gy. �` �... � By. � �- <br /> �tS: ���� � ��;C.,'1 -� / �:• � �tS: ���re�r <br /> Internal.Use Only: . �Original#o Finance Department D Copy to Zoning File " �Copy to.Street_File <br />