Escrow Agreement THIS AGREEMENT is made this o4,04:6 day of 3L LJ.. , 1996, by
and between Bradley J. and Karen S. Kesl, referred to in �Ctthis ()AAgreement 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 9, Block 2, Austin 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 Two Thousand Six Hundred Seventy-One and 86/100 Dollars
($2,671 .86) , the receipt of which is hereby acknowledged by the Escrow Agent.
2. Investment. The sum deposited by the Property Owner with the
Escrow Agent shall be deposited by the Escrow Agent in an escrow account
under the City's Special Assessment Escrow Fund and invested as permitted
by law.
3. Annual withdrawal. In January of each year, the Escrow Agent
shall transfer from the escrow account an amount necessary to pay the
annual bond principal and interest payments attributable to the Real Estate
and the 5$ 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. Termination. This Escrow agreement shall terminate on December
20, 2005, coinciding with the payment from the escrow account of the final
annual installment of bond principal and interest attributable to the Real
Estate.
•t
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.
EXECUTED this a(pth day of n V 0 , 1996.
44(1)
LA_ Aid
"Property Owner"
CITY OF SALINA, KAN AS
BY ,{ Uf( •
"EscAgent"
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this
026"-day of c „Q4 , 1996, by CA t .! , the Property
Owner. 0 Q
N0APUBLIC•Stdbeim 0,y Puv
yQZ/D /l_PENNY L I- " = WWI* Notar b
c
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this
o2(, day of , 1996, by 'T,,,a.y �. { o , C;}, ClcrlC of the City
n
of Salina, Ka as, on behalf of the City of Salina, Kansas.
DIANN B. HEATH �O v`J �. A
1 Notary Public•State of Kabnsas Notary Public
•My Appt.Expires II-2L.- '7
, .
ttg.,„ City of Salina
P.O. Box 736
'Atte=<:1Cr g.IMS
Salina, Kansas 67402-0736 7/26/90(RECEPT NO. 468963
soLine
. DESCRIPTION . - •
- , AMOUNT
PREPAID SPECIAL ASSESSMENTS
553 000 557 000 L9 BE AUSTIN
TOT AI_ 2,67L3&
CHECK NUMBER 0000562 HEL/:. 'TENDERED 2,671 .36
CHANGE
•
•
4 '27'1:
•
•
r
'05.2i;ganfr:. .„
. '• .",
, ri .1
1
1 L. I 1
RECEIVED FROM: EtE1-11...■LE V FL CC-222
RECEIVED BY:
DUPLICATE RECEIPT
•
. _
, . . .
. . .. . .
•. . •
„ .
: •
1; ..
.f tar . , . _ • .
, .
, .
•-
. •
07÷f7,;QC„c:tx--C-%cr•• `-, ---'-a-tr-:4'-;■-4,,,C1-4";:W13;c61,,%-:)'-',•."/ 3•
. , ..
. .
•
•
0 0
0 O
\ .0
N r ...nu,N N N M CO M N
N 1•'1 I.l to 01 10 N V 0 CO b N
..
G .1 N N nNr N .+InO M
▪ .-I O N C M rl 0 0 N N r1 N
8 ill V .3 V v.en en en M en
N
0
0
to
N
N 4
Y
A
0
6
N
N 0 0 0 0 0 0 0 0 0 0
y 0 0 0 0 0 0 0 0 0 0
N N .
in V .1
4 A 0
0 U
G
U A Z to
0 0 Y1 0
H H E M
E 00 re
.0 0 0 > 4 W
11 O AH-H
3H V 0.0 0 PI
3 ✓ m r- a
X to 4 co l0 0. 0000000000
LI W N b b 10 b b b b b 10 b
O 1 .H V P al N c 0 O to.y .0 N 0
3 a+ 0 o b Oi tel 0 .H 0 .l N ON in ✓
0 0 Y 1 N N
I °H 0 U N N H 0.0 N O to O N ON N b N
to Or H O 0 0 .H c N 01 0 b O.M .1 M U
4• E.H 1 0 G ry.1 II
O .1.i 7 0 H
O O H N W
8 2 Y 0
in 0 rl
to I N 0
to C C O to
to •H IO p P 0
4 0 N 0000000000 H
.H ✓ Z .1 CO C m CO C W CO W m 0 ee 0 .ao m
O 4 0 W 0 0 to b 10 b b b 10 0 b 0 2
-H 0 0 01 0. II
U Y M n 0. to WU1b0b1 bwb In
O O N 0 0 O O o 0 o 0 0 0 O O W
N 3 0 0.0 M M M M M M M M M M
O. I
N H
in %
7 0 W
in O \\ II
o m Y 4Ok 0 r mm oo NI.1 W
O N 04 C.0q+,1 0/ 70/0000
O 7 a 0 N 7 7 0 0 0 0
N N CO YI N rH N N N N
IOn .0 0 r.+ >0.. +1 a to 01 4• IOl E N I-I F O 2
H 0 (00 On V r 00) (MO (n+) 0 0 0 00
N M r on 0 Ci W Z N r O) O 0 V on M
W a
fA r fA fA fA fA fA Vi
F Q (A
Z W
O CO n 0 01 CO (O O O N 0 (0 V
(D CO r CO 0 n 0) r 0 0 t0 V CO 0
O W N N N 0 O n t0 (O ON S )0 OM n r CO
0
Q fA fA U) fA fA fA fA fA rr 0 O CO
M N
fA e
d- CO 0) O n V co CO co CO N 0 0 CD CD•V Z U)
- W r n N n r (D 0) MOO O W Q O
U of M r O (0 n (O CO N fA fA CO Z fl Z
Z H 009 MM 6969 6909 Cr;0 a' W 5
a ? Ud CO CO
O W (D en V 0) en r t0 N 0 0
Z O CO 01 r (O O (D V N O O
Z Z r CO O) CO CO N n CO 0 0
Q n N- V 01 a N- V N fA fA
Z J (D N O) (O N CD CO 0• Q N N
2 W m (A fA fA fA fA
C m
H M 0) (D n (D CO n 0 0 0
O Z W M 0 n N (D CO (D N O 0 CO
F W D V a N V V (O O (D 0 0 r
Z CO J V 0 n V CO 0 CO la ' n
W W Q fa 69 fA fA (A fA fA fA CO
2 a > 69> a
W O N Z Q ON) V r CO CO CO W 0n N (0
O (O O) (O N O (O Cr O V
K W X D) N 0 (O 0 N- 0 (O CO
d CO W N- CO CO V O CO CO CD CO CO
H W D O) 01 CO CO CO n n (0 (O O
Z CC J O O O O O O O O o O
W aQ
.. 0 0) r V N n r CO O O N
Q W Z (O V O) (0 V 6 (O M 0 0 O) N
ir Q M W N O O M O m O O ((IZ W Q -, (O CO N 0 C) n (D M fA fA CO oO 7
W O
J V V V V CO CO CO CO 0)
F Q 69 69 fA fA 09 69 A !A 6 Q
,Q
J Z W p p v C
OQ Of- Z ~ N O N =
} w U Z 3 s o
F a CO p H c w No
U U) a E aLl w
W o (O V n a O) W (O O O N — .0 U 0 0
H_
u) O CO r CO 0 n 0) r 0 0 (O ,7� _0 U U
NO 0 O
(L .- 000 CO n O 0 OO r
- N N N fA 69 O a O
0 T
Z fA fA CO fA fA fA fA fA y — @
W p 69 _o c > o E
• Q
w o c 8
> C E a T c
Q F co to r ` N n CO 0 o O C It d E CO
N
4. U) MmrCO NO) �0000 0 CL Es
H W (D O (0 O N O N O O O n _c N ) N ~
W W• N r 0) CO (0 V M fA fA n C O N
W W Cr) fA fA fA fA fA (0 L T
pF ip iA fA —
H Z w - 3 a) U
N
W J CO (D (D (O (O (D (D (0 0 0 r C N
W' Q (D CO O O CO CO (O (0 0 O co E co
Of U C
CL ) (O (ri O D p D O O M C
N O Op
D0 M 0000000 EA U) V N O-c � p
U fA fA Ui 696969 M» N E c a) N
IX fA O 'C. .O L.
(1 a a N C 0
co a N N M N M N 0 0 0 y r E 0 -p
Z 0) (O n V CO CO (O N 0 0 V Y E m
OCO nNn (O m MOOD -o a) >,L.=
-Jr N KS CO r 0 N n (0 CO N fA N CO C t`0 O r
H (.0 r Cl- V V V CO CO M M M O O N O. 0
d O O fA fA fA fA U) d) U)M M a-•C N U
E Q fA 0 c 3 d C
U N > > O a)
CO y •4 CO n co co O r N M V uN a) al 0 U
W U a W' 0) 0) O) 0 0 0 0 0 0 0 L gy =p C N a_ 0 W m 0) 0) O) r N N N N N N J ~ 'C = C L
- V
° W 0 F LL
U• m H )-
J J LJ W 0 0