Escrow Agreement (Lot 2, Block 2 River Trail Addition)ESCROW AGREEMENT
THIS AGREEMENT is made this 14th day of December, 2009, by and between Brian
J. & Tamara R. Yost, (Referred to in this Agreement as "the Property Owner") and the City of Salina,
Kansas (Referred to in the Agreement as "the Escrow Agent").
RECITALS
A. Property owner is the owner of real estate legally described as:
Lot 2, Block 2 River Trail Addition
(referred to in this Agreement as "the Real Estate")
B. Special Assessments have been levied against the Real Estate and bonds have
been issued by the City of Salina, Kansas, in payment of the costs of the public improvements for
which the special assessments were levied.
C. Pursuant to Salina Ordinance Number 88-9252, the Property Owner wishes to
deposit with the Escrow Agent funds which, when held in an interest-bearing account, will generate
sufficient interest such that the share of annual payments of bond principal and interest attributable to
the Real Estate can be made.
D. The Escrow Agent is willing to receive such payment from the Property Owner
and to hold such funds, subject to the terms and conditions of this agreement.
SO NOW, THEREFORE, the parties agree as follows:
1. Payment. The Property Owner deposits with the Escrow Agent the sum of Five
Thousand, Nine Hundred Sixty Five and 72 /100 Dollars ($5,965.72), the receipt of which is hereby
acknowledged by the Escrow Agent.
2. Investment. The sum deposited by the Property Owner with the Escrow Agent
shall be deposited by the Escrow Agent in an escrow account under the City's Special Assessment
Escrow Fund and invested as permitted by law.
3. Annual withdrawal. In January of each year, the Escrow Agent shall transfer
from the escrow account an amount necessary to pay the annual bond principal and interest payments
attributable to the Real Estate and the $10.00 annual administration fee. The amount necessary to
pay bond principal and interest will be transferred to the City's Bond and Interest Fund and the
administrative fee shall be transferred to the City's General Fund.
4. Termination. This Escrow agreement shall terminate on the date coinciding with
the payment from the escrow account of the final annual installment of bond principal and interest
attributable to the Real Estate.
5. Binding effect. This Escrow Agreement shall be binding upon and insure to the
benefit of the heirs, executors, administrators, devisees, legatees, successors and assigns of the
parties.
EXECUTED this 14th day of December, 2009.
—BJW Q
Brian J. Yost
"Pr perty Owner"
Tamara R. Yost
"Property Owner"
STATE OF KANSAS, SALINE' COUNTY, ss:
CITY OF SALINA, KANSAS
Ro ney Franz
"Escrow A t"
dh
The above and foregoing instrument acknowledged before me this _� day of December,
2009, by Brian J. Yost, the Property Owner.
n t:AnCY L. McELDERRY
ro ay Pusrlces a Kansa
ETY ;,pp;. Expires
-fip X�_ i A
Notar Pu lie
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this day of December,
2009, by Tamara R. Yost, the Property Owner.
N' I1rCYuLc ADRRY
Ec 4 of Kansas
K�y?t. Excires v
Notary u lic
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this 14 day of December,
�tj2009, by Rodney Franz, Finance Director of the City of Salina, Kansas, on behalfofthe City of Salina, Kansas.
,y SHANDI L. WICKS p �� / e
Notary Pubiic - State of Kansas // .I ./ Rjlll''M
My Appt. Expirest.l 2M No ary Public
Tract #
Job Number
Other Description:
Date of Payment or Sale
Discount Rate Used:
nate rirst rrepaio
Assessment is Due
First prepaid assesment
City of Salina
Special Assessment Prepayment Form
1999-1180A Total Future Assessments Due:
Amount of Prepayment Required:
Savings on Prepayment:
12/11
-12/20/201
due
Scheduled Principal
12/11/2009
(This is the Date Paid)
12/20/2010
Principal
12/20/2011
- $911.52 I)
[—'—$91-1-.52
12/20/2012
$911.52'1
12/20/2013
x';`$911.52;'
12/20/2014':
�
$911.52 I
I
0
$5,915.72
$5,965.72
($50.00)
W/E: 11/30/2009
From: http;/Iwww.tecieraireserve.gov/releases/h
Totals $4,557.60 $1,358.12 $5,915.72 $50.00 $5,965.72
Total Due
Scheduled
Principal
Escrow Adm.
From
Interest
and Interest
Fee
Escrow
0
$888.72
F'$'-.800'.2 4 j
$10.00
$1,810.24
$185.94
$1,097.46 I
$10.00
$1,107.46
$140.82
$1,052.34
$10.00
$1,062.34
$94.79
$1,006:31.
$10.00
$1,016.31
$47.85
$959.37
i
i
$10.00
$969.37
in :t
Totals $4,557.60 $1,358.12 $5,915.72 $50.00 $5,965.72
SA505C Special Assessments - Tract Assessments 12/03/09
10:32:11
Job: 1999-1180A River Trail Addition, Phase 1
Tract#
Lot
Block Subdivision
227.88
29077
1,139.39
2 002 771
RIVER TRAIL ADD
LGL:
.00
1,097.46
2012
911.52
------------------------------------------------------------------------------
Year
Principal
Interest
Payments
Assessment
2000
911.52
888.73
.00
1,800.24
2001
911.52
829.48
.00
1,740.99
2002
911.52
725.79
.00
1,637.31
2003
911.52
505.89
.00
1,417.41
2004
911.52
471.25
.00
1,382.77
2005
911.52
432.97
.00
1,344.49
2006
911.52
393.77
.00
1,305.29
2007
911.52
353.67
.00
1,265.18
2008
911.52
311.05
.00
1,222.57
2009
911.52
267.99
00
i 173 50 _
2010
911.52
227.88
.00
1,139.39
2011
911.52
185.95
.00
1,097.46
2012
911.52
140.83
.00
1,052.34
2013
911.52
94.80
.00
1,006.31
2014
911.52
47.85
.00
959.37
Cityof City of Salina
12/14/200 P.O. Box 736
Salina, Kansas 67402-0736 RECEIPT NO.
111001
ITV
DESCRIPTION AMOUNT
Escrow Agr ESCROW AGREEMENT.TR# 29,077 JOB # 1999-1iB0A 1,965.72
553-000 557.000
CHECI:: 85613
RECEIVED
FROM:
PEOPLES BANK
5,965./C
ORIGINAL RECEIPT TOTAL FA I D
i
5.965.72
Federal Reserve Statistical. Release
1-1.15 {1
Selected Interest Rates r-r
Release Date: November 30, 2009
Release dates I Dupdate.1 Historical data Data Do%vnload Program (D DP) About Announcentcnts
aily
Current release Otherformats: Screen reader I ASCII I PDF (17 KB1
FEDERAL RESERVE STATISTICAL RELEASE
H.15 (519) SELECTED INTEREST RATES
For use at 2:30 P.M. Eastern Time
Yields in percent per annum November 30, 2009
1111 Data Download
Program
2009
2009
Instruments
Nov
Week
23
Federal funds (effective) 1 2 3
0.12
Nov
Commercial Paper 3 4 5 6
Nov
Nov
Nonfinancial
Oct
24
1 -month
0.14
27
2 -month
0.12
3 -month
0.14
0.11
Financial
0.11
0.12
1 -month
0.15
2 -month
0.16
0.12
3 -month
0.17
0.15
3 -month nonfinancial or financial
0.15
posted by CPFF 7
0.14
Without surcharge
1.13
0.12
With surcharge
2.13
n.a.
CDs (secondary market) 3 8
n.a.
1 -month
0.18
3 -month
0.21
0.14
6 -month
0.26
n.a.
Eurodollar deposits (London) 3 9
n.a.
1 -month
0.30
3 -month
0.45
0.19
6 -month
0.65
0.15
Bank prime loan 2 3 10
3.25
0.15
Discount window primary credit 2 11
0.50
U.S. government securities
0.17
Treasury bills (secondary market) 3 4
0.15
0.13
4 -week
0.05
0.16
3 -month
0.05
6 -month
0.14
0.17
1 -year
0.28
0.19
Treasury constant maturities
0.19
Nominal 12
0.19
1 -month
0.05
0.22
3 -month
0.05
1.13
6 -month
0.14
1.13
1 -year
0.29
2 -year
0.77
1.16
3 -year
1.28
2.13
5 -year
2.20
2.13
7 -year
2.90
10 -year
3.37
2.16
20 -year
4.20
0.17
30 -year
4.29
0.18
Inflation indexed 13
0.18
5 -year
0.38
0.20
7 -year
0.75
0.20
10 -year
1.20
0.20
20 -year
1.84
Inflation -indexed long-term average 14
1.81
0.24
1111 Data Download
Program
2009
2009
2009
2009
Week
Ending
2009
Nov
Nov
Nov
Nov
Nov
Nov
Oct
24
25
26*
27
27
20
0.12
0.11
0.11
0.12
0.11
0.12
0.12
0.11
0.15
0.15
0.14
0.12
0.12
n.a.
n.a.
n.a.
0.12
0.10
0.14
n.a.
n.a.
n.a.
0.14
0.15
0.19
0.14
0.15
0.15
0.15
0.15
0.17
0.15
0.13
0.16
0.15
0.17
0.17
0.19
0.19
0.19
0.19
0.19
0.22
1.13
1.13
1.13
1.13
1.14
1.16
2.13
2.13
2.13
2.13
2.14
2.16
0.17
0.17
0.18
0.18
0.18
0.20
0.20
0.20
0.20
0.20
0.21
0.24
0.27
0.27
0.30
0.28
0.29
0.31
0.30
0.30
0.30
0.30
0.30
0.35
0.45
0.45
0.45
0.45
0.45
0.49
0.65
0.65
0.65
0.65
0.65
0.80
3.25
3.25
3.25
3.25
3.25
3.25
3.25
0.50
0.50
0.50
0.50
0.50
0.50
0.50
0.06
0.07
0.06
0.06
0.04
0.04
0.05
0.05
0.03
0.05
0.04
0.07
0.14
0.14
0.14
0.14
0.15
0.16
0.27
0.25
0.25
0.26
0.28
0.35
0.06
0.07
0.06
0.06
0.04
0.04
0.05
0.05
0.03
0.05
0.04
0.07
0.14
0.14
0.14
0.14
0.15
0.16
0.28
0.26
0.26
0.27
0.29
0.37
0.73
0.73
0.68
0.73
0.76
0.95
1.22
1.23
1.15
1.22
1.26
1.46
2.15
2.11
2.03
2.12
2.19
2.33
2.82
2.78
2.71
2.80
2.88
2.96
3.32
3.28
3.21
3.30
3.35
3.39
4.16
4.12
4.07
4.14
4.19
4.16
4.25
4.23
4.21
4.25
4.28
4.19
0.34
0.30
0.29
0.33
0.42
0.83
0.74
0.69
0.68
0.72
0.78
1.12
1.21
1.16
1.15
1.18
1.21
1.48
1.82
1.78
1.77
1.80
1.84
2.04
1.80
1.76
1.74
1.7B
1.82
2.03
TXDSPTMHRI Billing Information
REAL ESTATE Identifier - 29077
Taxpayer - MARTIN JAMIE D & CYNTHIA S
Owner -2 Original
Unit / Levy 001 128.054 001 128.054
Levied Tax 3;—T1 --n 3�TO-
CITY SPECIALS 1 07 1,179.50 07 1,179.50
Year - 2009
Total
Paid 5,137.50
Total
Due
Crds
War/Re
Statement# 18183
Total Tax
5, 137.50
5, 137.50
Ex
Current
Valuations
- Total
31,268
SG Exempt 2300 Cd
Class R
Land
3383 Imp
27885 New
Imp
Exempt
Class
Land
Imp
New
Imp
Exempt
_
Class
Land
Imp
New
Imp
Exempt
Original
Valuations
Total
31,268
SG Exempt 2300
Class R
Land
3383 Imp
27T95-
7 5Class
Class
Land
Imp
_
Class
Land
Imp
F3=Exit F5=Refresh F10=Payment F12=Cancel F13=Comments F14=InFull
PEOPLES BANK
CITY'OF SALINA
YOST,0911929
12/11/2009
RIC:. E -�)CiZ.
85613
5,965.72
r,7�c,o P�)yuxy,-� -Traci Z9o�l
)vh t' 1"-1126A
Barbara #1999-1180A TRACT #29077 PAY IN FULL MTG.09119 5,965.72
1
I
FAX TRANSMISSION
I
To:
Nancy McElderry',
Company:
Peoples Banking
Fax #:
785-825-2101
Phone #:
Date:
12/3/09
Shandi Wicks, Deputy City Clerk
City of Salina
City Clerk's Office
300 W. Ash, Room 206
From: P.O. Box 736
Salina, KS 67402-0736
Phone: 785-309-5735
Fax: 785-309-5738
Email: shandi.wicks@salina
# of pages including cover sheet 13
That amount required to pay the specials off early is $5,965.72.
The additional $50 over the amount of future assessments is the
Notes: escrow administration fee. If the owners are still interested in
paying the specials off early, please let me know. I will need to
prepare the escrow agreements for the owners to sign and their
signature notarized.