Escrow Agreement ag���
9'n ,
ESCROW AGREEMENT / s '
THIS AGREEMENT is made this 28th day of January, 1999, by and between Randy and Julie
Naegele, (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 BGN NW COR LT 7TH ELY 121.56 SELY ALNG E LNE LT 7 47.3 WLY 121.9 NWLY
ALNG W LINE LT 7 32.71 TO POB COUNTRY OAKS REPLAT
(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
one hundred fifty two and 79 /100 Dollars ($2152.79), 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, 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 insure to the benefit of
the heirs,executors,administrators,devisees,legatees,successors and assigns of the parties.
EXECUTED this 28th day of January, 1999. AAL ci 777404
e
Randy Naegle
"Property Owner"
J
J ie Naegele (7
"Property Owner"
CITY OF SALINA,KANSAS
By
odney Fra /
"Escrow Ag t"
STATE OF KANSAS,SALINE COUNTY,ss:
The above and foregoing i ;strut Icnf acknowledged before me this a if day of January, 1999,by
Randy and Julie Naegele,the Properly' wn '.t! . "
3� oiAr :�..
PL' l iii ctt�`77�aBxJ
n'••.4�y9 e. •;; co S'Notary Public
STATE OF KANSAS, SALINE COUN VY4 s Iran
y7
The above and foregoing instrument acknowledged before me this / day of Je...,.. y, 119}9 , by
Rodney Franz, Finance Director of the City of Salina,Kansas, on behalf of the City of Salina, Kansas.
PENNY MEASE
NOTARY PUBLIC N AS
UBLIC
mu My RPCM.ATE
. O
L� L I�,_
Notary Public
•
ESCROW AGREEMENT f4[l!
THIS AGREEMENT is made this 28th day of January, 1999, by and between Randy and Julie
Naegele, (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 BGN NW COR LT 7TH ELY 121.56 SELY ALNG E LNE LT 7 47.3 WLY 121.9 NWLY
ALNG W LINE LT 7 32.71 TO POB COUNTRY OAKS REPLAT
(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 hundred
ninety and 71 /100 Dollars($290.71),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, 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 insure to the benefit of
the heirs, executors,administrators,devisees,legatees,successors and assigns of the parties.
EXECUTED this 28th day of January, 1999.
t to .. i• P
Randy Naegele
"Property Owner"
J ie Naegele
roperty Owner"
CITY OF SALINA, KANSAS
By S/ ! k
/
Rodney Franz �/
"Escrow Age
STATE OF KANSAS,SALINE COUNTY,ss:
The above and foregoing instrument acknowledged before me this day of January, 1999, by
Randy and Julie Naegele,the Prope\C;OWne `1/4,y,I
•• •4
TPia:;f VG*. ." Notary Public
STATE OF KANSAS, SALINE CVCIAIt ` s 1nt�:A0
l+tt SF
The above and foregoing instrument acknowledged before me this I day of.denvary, 1999, by
Rodney Franz, Finance Director of the City of Salina,Kansas,on behalf of the City of Salina,Kansas.
I PENNY MEASE
NOTARY PUBLIC
C NA Of NA NppAB
My Ant.imp, {OIj/W.
Notary Public
.
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TX099901 CURRENT YEAR TAX MASTER INQUIRY
Type - REAL ESTATE Identifier - 28172 131 02 0 10 07 007 03 0
Owner-1 NAEGELE RANDY & 1 A Alpha-1 NAEGELE RANDY & J
Owner-2
% Name Alpha-%
Address 920 SOMERSET CR
City SALINA State KS Zip 674017936 LandUse 111 USD 305
C/T C 01 TU 001 Sec/Twp/Rng 02 la 03 Sub/Elk/Lot 700 001 PT 7
Acres TR BGN NW COR LT 7 TH ELY 121.56
( .00) SELY ALNG E LINE LT 7 47.3 WLY
121.9 NWLY ALNG W LINE LT 7 32 .71
TO POB
Physical Address 637 — _ HUEHL CR 67401 Ex
Cd
Class RU Land 1518 Imp 6958 New Imp Exempt
Class _ Land Imp New Imp Exempt
Class _ Land Imp New Imp Exempt
SB41 Exempt 2300
Non-Severed Min Agricultural Land Mkt Val
Book 0375 — Page 0693 _ Transfer 20196 Probate
Bank Mortgage _ User Defined _ Added _
CONTROLS: Enter-Edit/Advance, CMD 1 - Next Record, CMD 6 - Exit, CMD 7-EOJ
PAYMENT DATE: 2/02/1999 City of Salina RECEIPT NO.: 960048980
P.O. Box 736
REVENUE STATION: CC Salina, Kansas 67402-0736 CASHIER: 111
ITEM TYPE RECEIPT DESCRIPTION TRANSACTION AMOUNT
PREPAID SP #28172 94-898 L 7 R 1 COUNTRY OAK ES 2, 152. 79
553-000 557.000
PREPAID SP #28172 89-790 290.71
553-000 557.000
RECEIVED TOTAL
FROM: SUNFLOWER BANK AMOUNT: 2,443.50
CHECK 84368 2,443.50
ORIGINAL RECEIPT
SA50SODF Special Assessments - Work With Tract Assessments 1/19/99
10:21:13
Job: 1989-790 Street and utility improvements CCE 2, 3,4, Country
Oak, Mariposa, Meyer.
Tract# Lot Block Subdivision
28172 7 001 700 COUNTRY OAKS RP PT BLK 1,3,4
Lgl: TR BGN NW COR LT 7 TH ELY 121.56 SELY ALNG E LINE LT 7 47.3 WLY 121.
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
_ 1991 .0000 .0000 .00 .00
_ 1992 .0000 .0000 .00 .00
_ 1993 .0000 .0000 .00 .00
_ 1994 .0000 .0000 .00 .00
_ 1995 .0000 .0000 .00 .00
_ 1996 134.0180 39.8033 .00 173 .82
_ 1997 134 .0180 32 .1643 .00 166. 18
_ 1998 134 .0180 24.3243 00 158.3 .
_ 1999 134 .0180 16.2832 .00 150.30
2000 134 .0180 8.1751 .00 142 .19
Help F3=Exit F5=Refresh F6=Create F12=Cancel
SA5050DF Special Assessments - Work With Tract Assessments 1/19/99
10 :21:24
Job: 1994-898 S & U/Austin,Country Oak Est,Tulane,Tasker
Tract# Lot Block Subdivision
28172 7 001 700 COUNTRY OAKS RP PT BLK 1, 3,4
Lgl: TR BGN NW COR LT 7 TH ELY 121.56 SELY ALNG E LINE LT 7 47 .3 WLY 121.
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
_ 1995 .0000 .0000 .00 .00
_ 1996 329.7990 151.3777 .00 481. 18
_ 1997 329.7990 133 .7401 .00 463 .54
_ 1998 329. 90 .00 X45 76
_ 1999 98.4252 79 .00 428.22
_ 2000 329.7990 82 .7631 .00 412 .56
_ 2001 329.7990 66.7777 .00 396.58
_ 2002 329.7990 50.4592 .00 380.26
_ 2003 329.7990 33 .8044 .00 363 .60
2004 329.7990 16.9846 .00 346.78
Help F3=Exit F5=Refresh F6=Create F12=Cancel
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•
DEPARTMENT OF FINANCE AND ADMINISTRATION
V St( Judy D.Long,CMC,City Clerk
300 West Ash Street, Ste. 206 P.O. Box 736
SAL�11A Telephone (785)826-7240 Fax (785) 826-7244
MEMORANDUM
January 19, 1999
TO: Harriett
FROM: Penny Mease
RE: Special payoff for tract #28172
Just a note to explain something I forgot to mention on the phone. Enclosed you will
find 2 copies of 2 escrow agreements, all 4 copies needs to be signed by the sellers,
and notarized. All four copies need to be returned to our office and we will have the
financial director sign them, and we will mail 1 copy of each to the seller. So we will
also need the address that they would like their copies mailed to. If you have any
other questions feel free to give me a call.