Escrow AgreementV
ESCROW AGREEMENT
•
THIS AGREEMENT is made this 27th day of September, 1999, by and between Veta Fisher,
(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:
TR BEG NE COR LT 3 TH S 107.92 W 42.29 N 108.03 E 40.19 TO POB BLK 2
(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 sumof Three thousand
nine hundred eighty eight and .50 /100 Dollars ($3988.50), 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, 2(09, coinciding with
the payment from the escrow account of the final annual installment of bond principal and interest attributable to the
Real Estate.
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r
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 27th day of September, 1999.
Veta Fisher
"Property Owner"
•
"Property Owner"
CITY OF SA'L�IN,A, KANSAS/
By i
Rodney Franz r
"Escrow Agent"
STATE OF KANSAS, SALINE COUNTY, ss:
v‘
The above and foregoing instrument acknowledged beforeme this °'' day of September, 1999,
by Veta Fisher, the Property Owner.
IAIMIEMMIIIMIM
• wkaes��- 3
otary Public
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this o8d ay of September, 1999, by
Rodney Franz, Finance Director of the City of Salina, Kansas, on behalf of the City of Salina, Kansas.
.J; minas de-
BARBARARWEBER / i S.
Y-4- _
ary Public
SA1030 INQUIRE Special Assessments - Tract Master Maintenance 9/27/99
14 :58 :49
Job: 1995-938 S & U GICO, Co.Club #3,Val.View,Woodland His. ,Minn
Ave. ,
Tract# Lot Block Subdivision
28924 PT 3 002 732 GICO ADDITION
Legal Desc: TR BEG NE COR LT 3 TH S 107 . 92 W 42 .29 N108.03 E 40 . 19 TO POB BLK 2
Units (FF) . . . : .0000 Units (SF) . . . : .0000
Manual Adjustment: .00 Dev. Payments. . : . 00
Assess Principal : 5, 345.37 Owner 30 Day Pymt: . 00
Last Split Year. : 1999 Units : .5000 _ (C, E or Blank)
Owner Name 1. . : FISCHER VETA M
% Name
Owner Name 2 . .
Address • 839A FAIRDALE RD
City, State, Zip: SALINA KS 67401-8430
Status _ (D-inactive, Blank-active)
Help F3=Exit F10=Extract F12=Cancel
SA5050DF Special Assessments - Work With Tract Assessments 9/27/99
14 :38 :50
Job: 1995-938 S & U GICO, Co.Club #3,Val.View,Woodland His. ,Minn
Ave. ,
Tract# Lot Block Subdivision
28924 PT 3 002 732 GICO ADDITION
Lgl : TR BEG NE COR LT 3 TH 5 107.92 W 42 .29 N108 .03 E 40.19 TO POB BLK 2
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
_ 1997 . 0000 .0000 . 00 . 00
_ 1998 . 0000 .0000 . 00 .00
1999 534 .5370 218 .0911 . 00 752 61
_ 2000 534 .5370 168T3 /92- . 00 702 . 92
_ 2001 534 .5370 147 .5322 .00 682 .07
_ 2002 534 .5370 125 .6162 .00 660.15
_ 2003 534 .5370 102 .6311 .00 637 . 17
_ 2004 534 .5370 78 .5769 .00 613 .11
_ 2005 534 .5370 52 . 9192 .00 587.46
2006 534 .5370 26.7269 .00 561.26
Help F3=Exit F5=Refresh F6=Create F12=Cancel
City of Salina 1
(4 ' 9/27/1999 P.O. Box 736
/ o .. Salina, Kansas 67402-0736 RECEIPT NO. 960061418
saLinA 130
DESCRIPTION AMOUNT
PREPAID SP tract#28924 Job 95-938 3 .988 . 50
553-000 557.000
CHECK 94 / 3 .988 .bU
RECEIVED
FROM _ Rex & Veta Fischer TOTAL PAID 3.988. 50
ORIGINAL RECEIPT
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