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LAND USE APPLICATION ESCROW AGREEMENT <br /> Application#_�_ - 3� 3 <br /> AGREEMENT made this {t.�day of ��: , 20�, by and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and `j;i,.c�-c-i�,,- �, 1..�:�.�1`lry� ,sL. _�e1.i�cz.�,c-� t�l� <br /> �ckc.�-���-� (c��.�:a��'�� <br /> [a corporation-optionaQ ("Owner"). <br /> Recitals <br /> 1. Owner has filed Zoning Application# e U - �formally requesting the City to <br /> review plans for (/�LlGZ,l�? C� ��1�(� {-r�r {�tP.�v G1,A��i <br /> located at � - <br /> the"Subject Property") as more Ily shown and described on Exhibit"A" attached hereto. <br /> 2. Owner requests the City to review said plans which requires City approval including ���v�-�e-e/' <br /> G�t�l� ��t� V`�/!'��t) <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 $ ��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 material for City Council <br /> review of application # �� - 3��3 . 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 will in turn <br /> send a bill to the Owner. Owner shail 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 falls below 75% of the original escrow amount the Owner shall deposit additionai sums as <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 /> 1 __.--- <br /> CITY: CITY OF OR OWNER: <br /> � <br /> � � <br /> By: �'� _.� B' �`�-�e%� G��c��-r.c� l J�L�/�� � <br /> ���1�� �� <br /> Its: j� C�:'i�`;'._---....- Its: <br /> �- �:: <br /> ._.� ._ .�.. � � '.fi <br /> Internal Use Only: 0 Original to Finance Department �Copy to Zoning File � Copy to Street File , <br /> : ; 09 <br /> n'�;��' OF C���Rl� <br />