Escrow Agreement J
•
a 4 yX5
ESCROW AGREEMENT
THIS AGREEMENT is made this 4`, "day of July, 1998,by and between John A.Logan and
Tammy L.Logan,referred to in this Agreement as("the Property Owners")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 4,Block 2,Country Oaks Estates Addition to the City of Salina
(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 Three Thousand
Seven Hundred Nineteen and 63/100 Dollars($3,719.63),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 5%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. TERNIINATION. This Escrow agreement shall terminate on December 20,2004,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 inure to the benefit
of the heirs,executors,administrators,devisees,legatees,successors and assigns of the parties.
Z 0 m 0 0 m
O a �
•
0 0(0 _ O r N N N N N N N N ++ K m p) 0 r
CO = 0 ` CO 00000000 (O0
-I 00000000 CD CD W Cr)
'A O
0- ry N d g V W W a W N -• O W W m 0 co m
m ] ]
. F tD W
(O O C C 61 N CO n
D - -1 N N N N N N O n ( N -0 m
CD 13 dO W f9 fA CA(ID O » NWaQo C m
. N N C _ V 0 0 o N - 0 0 W� V V - D_
a 3 ° n = N 0 0 0 (O N a CO J a N a Z Z
CD N N a m O
0 D N 9 A ; TQ
C
69 69 69 69 EA CA CA
V c N N -6 0° R. 3 69 W W Co W Co W CO W W co W n �a N CO 0 0 O N N N N N N N - p
O g
0
N 0 D W O O O V V V V V V V (p
d 2
C (](0 0 3 t0 OOOJJ JJJJJ rm
n m a a = Z Z
x SA -
N W A CAA CA*inn A �
V 0 0 0 CD CO V V W AAm
CO(D , Co OoONJ V 100 Co WNW -I d C . N W O o O N A V -. V W V -4 10 j .Q
N
N a,.G - D {
0 .<a 3
a ps o j V 69 69 69 69 69 69 69 K m
2 y m J <A(A6969 Z
d Q }n ,,„0
0) OOO (DOOO � -1N mm•.� N O p0 W •000a O w(Tio 0. CO CJ m
C 0) o 0 0 -+ CO a CD W J W m(n
n0 CO =m 2' A 3o Wn
c
O 0010- = 69 1 O W
Ca �� o 0 69 EA Zn m �
N N a f0 6909fAO - N W AA(T � � Hn n
r- o. a 000 » > oo<Droyc I y0
O O O O Co a iv V O W r .17 W C r-
e T
�'O co 0000 (D co V V COO m -I -1
DD
D
0000000000 > 1J W r
(CC O) O a V V CO CO CO CO C K) (mi)>
CO W CO W W O CO W V mW
0N COm
O aO� (000 CT 0 Z M
N T N V W W -1 O -1 a(O
O m
W 46 W CO V W W CO N(T N v -j W W Z
69 -0 -I
O CA d d)N J s
W (.i is)) n m Xi
V (aW ono J N W W W N a C m
V
A b b b in is W IV iaA -• mZ >
o 000 -'00W - 00O -1 -C
3
CO CO CO m m
-• -• -I-• 0 0Z-o co m -1 o o N a O) CDN co W
0
O O O 0 0 IV o CO a n-
3 O O O (o 0 CO CO C W O m
W vn Co-0
< A y CA 6969 CA 690 Z Z m W -1 -1N W 0 mZ t o 69696 CO O n
Dm V 0o ON -1 0 CD CO V V _Tzi n < Z
10 00 -1 in V V 46 is o mW H N 0 0 0 0 .a A CO N A co r
l
69 69
(A
0
CJ in 69 6969 CA 69 CAwT C �y
01 w -4 rn 000m000rrsNfmnm \
N O N 00)) 0 0 0 -0 ()) i D o W Co
W in o W J Cn
m Z r u t
W � OaN 096969CANth ZZ
0 CIO o (D CO CO CO CO 74 CO m m
O) O O O W N Co A O O) Co 0 W
co OOO -+ W W 0) 0) N m
- - O- W
W )
0) 0. 0
N N O -'
W 0 W A
EXECUTED thisa i day of July, 1998.
j ■
./o A. Loran
'Property t , ner"
1 i
...1 .11,14.. a a •t m
Tammy L. Logan 1 •
"Property Owner"
CITY OF SALI A,KANSAS
By L- . . .
Roy icy Franz
"Escrow Agent" /
STATE OF KANSAS, SALINE COUNTY,ss:
The above and foregoing instrument acknowledged before me thisalday of July, 1998,by John
A. Logan,the Property Owner.
NOTARY PUBLIC•Slate of Karats /
— PENNY L_1 4EI�_ _ �1 _A ._ i • S _ i.
iIIiiEis My .i �� Notary Public ,
STATE OF KANSAS, SALINE COUNTY,ss:
The above and foregoing instrument acknowledged before me thisp.L may of July, 1998, by
Tammy L. Logan,the Property Owner.
I 2 NOTARY PUBLIC•Slate of Kansas ! / _
__ my N Notary Public /
STATE OF KANSAS, SALINE COUNTY,ss: c����'
The above and foregoing instrument acknowledged before me this day ofdcmC,�iA98, by
Rodney Franz,Finance Director of the City of Salina,Kans ehalf of the City of Salina,Kansas.
HOIAAYPUBLIC•SfateafKaasa C, ._P..�11 ./l • r��`�
Notary Public l/
PENNY terra
Z 0 m 0 C m
_ 0 0 A Q �
= 5 0" D. O r N N N N N N N N -6- C CO m r
a) ? a) ` N 0 0 0 0 0 0 0 0 0 0 m
- � 000000000(.0 m o CO O
0 0 a. (1 J O) c n A W N -. 0 (0 CO m 0 ('JO N
N p
CD 0 O C C a N O 0
0 .�-. N to to 69 (7 .Z-1
OU 00 V 6969 EA EA 69 E9 ES CFI CO WW c --1
a) N CO 000000004301 - 7 -
Si 1.< 0 a E. O 00000001)6 in -- 0
a (3p 3 =co N 0000000 co J0 R Z
o (O 0. m 0
0 a K D o a 0
5 c -.0 N EA f969-
O n C m D O 0 n 3 m 6n(9E969 EA EA EA O O n 7-0 0 0 0 0 0 0 O O J J J - 23 O
C 0 0 0 " N 00 00 °0 00 00 00 00 (1(1 01 r m 0
00(0 °) 3 rm to
a a 0) Z Z ar
(U < F: = N a se)to+M m 0
-..< = N - N to 69 69 69 69 69 E9 A W N Am
0 0 � J 0000000 W NCO m�
0 70 A 6666666a' (o W (nD
l 0 N O O O O O O O O W N N m 7 U
0
J -0 C O j
3 3 d) ca6969-m
'o m
30e1) 0m = t000A tAt9 69 61 0.1 W Am z
01 o N W 0000000 J CO m_1
cc oo a0 Co 0000000 -ao) Vm
C A o 000000 aC)CO mN
nn � 0c A 30 (n0
oo0v= to
E/3 9 -q< O A V W 0 O n Z C) m
y N (D CD (O 69 EA EA EA EAEA df CO CO J -1 -1 0 0
D. o 0 -- J O co O O O O O J N J > C x D 0
O m o . m J oh o o o o o V VivrA cnc rm
O.CD l0 Co OOOOOOOIO NQO m -1 D D co
D Oo o o o o o o o0 > 23 cr
(CO 0) 66VVOCO0ioiOCm mD
C o 0 0 W W O COW J co
Ul W cnOJN W CDNComm O CO
A O -1 CO (10N(1CON 3
N C) N J C O W -k 0 -, A 0 .l1 Z O m
01 A 0)W JC) W CO (01 NND -I NN Z
a m -I
N a a a G rr) v
CO t9<96a E9 t9 EA E9 C004 cnr Co m
o) 0000000com(oCm '0
W 0 0 00 00 0 0 00 -4 W V m -1 <
C CO
to to m
y =ND0 Z
69696969EA EAa(J)) O co s Z m
0 0 0 O 0 O O O J C) Z Z
0
0 0 0 O O O O I V 0 1 o 0-
0000000 co N co m Z
(n m 0 Ik 13
G m .Zl is r-4m-I Z
Z m 77 -4 E9 el E9 EA f9 69 t9 CO CO W m 0
0 D m CO 0 0 0 O 0 0 0 0 W 01 23 .T.,M -I (0'1 0 0 0 0 0 0 0 m 0 m m
II el ��
II N N a
II A W V - 69 69 EA Eft el 69 EA W W A m O
II N C) CO CO 0000000 --4C0 -. 01K eve
11 .0) 11./ W Co 0 0 0 0 0 0 0 N 0 N
11 N W N a 0000000 +(10J
ii -en D -I
T.
o
m
W- E A E A EA EA E A E A V I J A Z A
- 0000000 V P P m m
u, 0000000 - Om
J OOOOOO -. 0-4 -I_, W
N r‘ m
J 0- OJ
0) O. 0
N N O -,
O) (1 O) A
•
SA5050DF Special Assessments - Work With Tract Assessments 7/14/98
16:02 :14
Job: 1994-898 S & U/Austin,Country Oak Est,Tulane,Tasker
Tract# Lot Block Subdivision
26489 4 002 655 COUNTRY OAK ESTATES
Lgl: w 25'
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
_ 1995 182 .7730 117 .0844 .00 299.86
_ 1996 182 .7730 83 .8928 .00 266.67 '
_ 1997 182 . I • .. .00 256.89
_ 1, . : 182 .7730 64 .2648 .00 247.04
_ 1999 182 .7730 54 .5468 .00 237.32
_ 2000 182 .7730 45.8669 .00 228.64
_ 2001 182 .7730 37.0079 .00 219.78
_ 2002 182 .7730 27.9643 .00 210.74
_ 2003 182 .7730 18.7342 .00 201.51
2004 182 .7730 9.4128 .00 192 .19
Help F3=Exit F5=Refresh F6=Create F12=Cancel
v
City of Salina
7/17/1998 P.O. Box 736 r i r,,,,,,97
Salina, Kansas 67402-0736 RECEIPT NO.
seLinRC 122
DESCRIPTION
AMOUNT
PREPAID SP L4 B2 COUNTRY OAK ESTATES TRACT #26489 3, 719.63
553-000 557.000
t‘
RECE1vE FROM THE MORTGAGE COMPANY RECEIVED BY: 3. 719.63
CHECK 2164 3.719,63
ORIGINAL RECEIPT
•
SA5050DF Special Assessments - Work With Tract Assessments 7/14/98
16:02 :33
Job: 1989-790 Street and utility improvements CCE 2, 3,4, Country
Oak, Mariposa, Meyer.
Tract# Lot Block Subdivision
26489 3 002 655 COUNTRY OAK ESTATES
Lgl: less West 10 '
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
" _ 1991 848.5790 604 .2901 .00 1,452 .87
_ 1992 848.5790 454 .7119 .00 1,303 .29
_ 1993 707.1480 326.2781 .00 1,033 .43
_ 1994 707.1480 287.4535 .00 994 .60
_ 1995 707.1480 249.2697 .00 956.42
_ 1996 707.1480 210.0230 .00 917.17
_ 1997 707.1480 169.7155 .00 876.86
_ 707.1480 : .3474 . 11 .
_ 1999 707.1480 85 . 9185 .00 793 .07
2000 707.1480 43 . 1360 .00 750.28
Help F3=Exit F5=Refresh F6=Create F12=Cancel
•
•
THE MORTGAGE COMPANY
Salina City Clerk 7/17/98 218 4
1200-Accounts Receivable-Loans John Logan 3,719.63
730 Huehl Circle
Salina,Kansas
PayofSpecials.
Fidelity Loan Settlement 3,719.63
•
•