Escrow Agreement ESCROW AGREEMENT
THIS AGREEMENT is made this day of November, 1992, by
and between SCOTT B. EBBERT AND DEBORAH L. EBBERT, 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 Four (4) , Block Three (3) , Country Club Estates Addition
Number 4 to the City of Salina, Saline County, Kansas
(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 eight thousand fifty-one and 71/100 Dollars ($8,051 .71) , the
receipt of which is hereby acknowledged by the Escrow Agent. The amount
deposited by the Property Owner has been determined as follows:
a. All unpaid special assessment installments
which have been levied against the
Real Estate $8,709.63
b. All unlevied principal and interest
installments plus an annual administrative
fee of 5% of the annual principal and
interest due, reduced to a present value
based upon the discount rate of ( .04%) ($657.93)
TOTAL $8,051 .71
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, 2000, 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.
EXECUTED this day of November, 1992.
"Property Owner"
"Property Owner"
CITY OF SALINA, KANSAS
By
"Escrow Agent"
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this
day of November, 1992, by
the Property Owners.
Notary Public
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this
day of November, 1992, by Jacqueline Shiever, City Clerk of the City of
Salina, Kansas, on behalf of the City of Salina, Kansas.
Notary Public
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ESCROW AGREEMENT
THIS AGREEMENT is made this
O day of November, 1992, by
and between SCOTT B. EBBERT AND DEBORAH L. EBBERT, 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 Four (4) , Block Three (3), Country Club Estates Addition
Number 4 to the City of Salina, Saline County, Kansas
(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 eight thousand fifty-one and 71/100 Dollars ($8,051 .71) , the
receipt of which is hereby acknowledged by the Escrow Agent. The amount
deposited by the Property Owner has been determined as follows:
a. All unpaid special assessment installments
which have been levied against the
Real Estate $8,709.63
b. All unlevied principal and interest
installments plus an annual administrative
fee of 5% of the annual principal and
interest due, reduced to a present value
based upon the discount rate of ( .04%) ($657.93)
TOTAL $8,051.71
•
.. .
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, 2000, 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.
EXECUTED this day of November, 1992.
26,eo?k" -v L
"Proo�erty erty
/
' roperty Owner'
CITY OF SALINA,, KANSAS
By �` w...` _C. ;wed �st C�tLL
A
"Escrow ent" 1
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged Wore me this
30 day of November, 1992, by Sco-1-1- 1. Fb6«'t- 1- eQrtcrza. khbvt
the Property Owners.
DIANN B. HEATH ! a--,--P, �_ �
Hoturw no-state') Kansas Notary Public
My Atpt.Expires 9
STATE OF KANSAS, SALINE COUNTY, ss:
„i_ The above and foregoing instrument acknowledged before me this
3'O day of November, 1992, by Jacqueline Shiever, City Clerk of the City of
Salina, Kansas, on behalf of the City of Salina, Kansas. 7p�J
DIANN B.HEATH �� G't ai . ,0
� �_smtoet , otary Public
My Acct.Ex(8es //-024 "9
• •
ESCROW AGREEMENT
THIS AGREEMENT is made this day of November, 1992, by
and between SCOTT B. EBBERT AND DEBORAH L. EBBERT, 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 Four (4) , Block Three (3), Country Club Estates Addition
Number 4 to the City of Salina, Saline County, Kansas
(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 eight thousand fifty-one and 71/100 Dollars ($8,051.71) , the
receipt of which is hereby acknowledged by the Escrow Agent. The amount
deposited by the Property Owner has been determined as follows:
a. All unpaid special assessment installments
which have been levied against the
Real Estate $8,709.63
b. All unlevied principal and interest
installments plus an annual administrative
fee of 5% of the annual principal and
interest due, reduced to a present value
based upon the discount rate of ( .04%) ($657.93)
TOTAL $8,051.71 C•K /ma
Pd1 N 30 -92
''szs
•
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, 2000, 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.
EXECUTED this day of November, 1992.
"Property Owner"
"Property Owner"
CITY OF SALINA, KANSAS
By
"Escrow Agent"
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this
day of November, 1992, by
the Property Owners.
Notary Public
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this
day of November, 1992, by Jacqueline Shiever, City Clerk of the City of
Salina, Kansas, on behalf of the City of Salina, Kansas.
Notary Public
DEPARTMENT OF FINANCE AND ADMINISTRATION
CITY CLERK
''+ ''y 300 West Ash • P.O Box 736
Salina.Kansas 67402-0736
Salina
CI T v • o r• Robert K. Biles.CPA..Director • Jacqueline Shiever.C.MC.,City Clerk
SAL I ne Telephone(913)826-7240 • FAX(913)826-7244 I I I I I I
January 18, 1994
Shirley Jacques
Saline County Clerk
City-County Building
300 West Ash Street
Salina, KS 67401
Dear Shirley:
This is your authorization to remove the following assessment from the 1993
tax roll:
Tract
ID Description Amount
26415 Lot 4, Block 3, Country Club Estates #4 $1,257.56
as it was assessed in error.
Sincerely,
—�1Gt;QJ7CL/� �. j(1.-
St)ephanie Krug U
Acting City Clerk
cc: County Treasurer
County Appraiser
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• City of Salina 108892
At44,( 04-41 P.O. Box736
c o " Salina, Kansas 67402-0736
SALIfA 11 !30/92 RECEIPT NO. 1.839:_ )
DESCRIPTION AMOUNT
PREPAID SPECIAL ASSESSMENTS s . u`_,:i . fl
ESCROW L4 E3 CCE $4 ' 92-2000
CHECK NUMBER 0000001625 TOTAL. 8 , 051 . 71
TENDERED 8 , 051 . 71
CHANGE . 00
O
RECEIVED FROM: SCOTT 1) EBBERT RECEIVED BY: CC
DUPLICATE RECEIPT
•
country Club Estates #4 Addition
`.• Lot 4, Block 3 •
is in the Benefit District for the Sanitary Sewer, Water Main and
Service, Storm Drainage Improvements, Curbing, guttering, paving,
grading Argonne Avenue and Presley Avenue
Engineering Projects 89-789/89-790
The principal amount due by May 28, 1991 is - $8,605.17
After 30 days, the assessment will be certified to the County to be
collected on the real estate tax rolls over a 10 year period. If the
assessment is collected on the tax roll, you will pay 1/10 of the
principal amount plus interest at the rate of approximately 6.5% figured
on the unpaid principal balance each year. X993 257.5(-
l3 9 / 1410 .31
The First Year of Assessment - 1991 SqZ 2 1 4S 1i43.8 S
The Last Year of Assessment - 2000 1 26415 44 Fr 14 act
17 1047.011
98 01L .-10
Job 89-789/790 RETURN YELLOW COPY WITH REMITTANCE zoo0 9 4S.e�
Book 17 41 3 PI
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•
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95 I It % . 2S OF PC U1^ Q PHONED
PHONE S" gat-) l RETURNED
YOUR CALL
7 / l IL . a '7 AREA CODE NUMBER EXTENSION PLEASE CALL
MESSAGE
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WANTS TO
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