Escrow Agreement rRAcT a?a4 7 I/
?oB 95'M
ESCROW AGREEMENT
THIS AGREEMENT is made this 28th day of December, 1998, by and between Alfred Jacobs,
(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 10 BLK 1 TASKER 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 Four thousand
nine hundred eighty six and 03 /100 Dollars ($4986.03), 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, 2003, 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 December, 1998. /�
ll
acobs
"Pro rty Owner"
•
"Property Owner"
CITY OF SALINA,KANSAS
Byn � ��j
Rodney Franz "
"Escrow Agent,J
STATE OF KANSAS, SALINE COUNTY,ss:
The above and foregoing instrument acknowledged before me this 00 day of December, 1998,
by Alfred Jacobs,the Property Owner.
BARBARA R.WEBER
NOTARYPIES
tary Public
STATE OF KANSAS,SALINE COUNTY,ss: /�
The above and foregoing instrument acknowledged before me thisJU day of December, 1998,by
Rodney Franz, Finance Director of the City of Salina,Kansas,on behalf of the City of Salina,Kansas.
sis PENNY MEASE
NOTARY PUBLIC
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SA5050DF Special Assessments - Work With Tract Assessments 12/28/98
10 :52 :47
Job: 1993-873 Streets & Utilities-Laurie/Tasker
Tract# Lot Block Subdivision
27297 10 001 689 TASKER
Lgl:
Type options, press ENTER.
2-Change 4-Delete 5-Display •
Opt Year Principal Interest Payments Assessment
_ 1994 916.6090 641.5713 .00 1, 558 .18
_ 1995 916.6090 421.3257 .00 1, 337 . 93
_ 1996 916.6090 374 .5851 .00 1,291. 19
_ 1997 916.6090 331.6181 .00 1,248.23
_ 1998 916.6090 287.2689 . 00 1,203. 88
716 .609U 241.blbb .00 1, 158. 14
_ 2000 916.6090 194 .7794 .00 1, 111.39
_ 2001 916.6090 147.1157 .00 1, 063.72
_ 2002 916.6090 98.5355 .00 1, 015 . 14
2003 916.6090 49.4969 .00 966. 11
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PAYMENT DATE: 12/28/1998 City`) of Sal i na RECEIPT NO.: 960047006
P.O. Box 736
REVENUE STATION: CC Salina, Kansas 67402-0736 CASHIER: 1 L�
'1 2-
ITEM TYPE I RECEIPT DESCRIPTION TRANSACTION AMOUNT
•
PREPAID SP TRACT#27297 JOB #93-873 ALFRED JACOBS-L#10 BLK 4,986.03
342-000 557.000
PREPAID SF TRACT#27297 JOB #95-928 ALFRED JACOBS-L #10 BL 508.32
342-000 557.000
•
•
RECEIVED TOTAL
FROM: AMOUNT:
STACY HARBIN 5.494.35
CHECK 4775 5,494.35
ORIGINAL RECEIPT
TACT aga97✓
Toe 41 75" 7a3
ESCROW AGREEMENT
THIS AGREEMENT is made this 28th day of December, 1998,by and between Alfred Jacobs,
(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 10 BLK 1 TASKER 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 Five hundred
eight and 32/100 Dollars($508.32),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, 2007, 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 December, 1998.
led cobs 6A4141.4-----
"Prop y Owner"
"Property Owner"
CITY O/FSALINA,KANSAS
//j
By / `'(,7i.ems. ,----- f
Rodney Franz V
"Escrow Agent"
STATE OF KANSAS,SALINE COUNTY,ss:
The above and foregoing instrument acknowledged before me this 0 day of December, 1998,
by Alfred Jacobs,the Property Owner.
• Nlkot Ey.WE dr ry Public
STATE OF KANSAS, SALINE COUNTY,ss:
The above and foregoing instrument acknowledged before me thisai day of December, 1998,by
Rodney Franz, Finance Director of the City of Salina,Kansas,on behalf of the City of Salina, Kansas.
PENNY MEASE
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SA5050DF Special Assessments - Work With Tract Assessments 12/28/98
10:53 :41
Job: 1995-928 Schilling Road Drainage Area A (Tasker - No. Side)
Tract# Lot Block Subdivision
27297 10 001 689 TASKER
Lgl:
-
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
_ 1998 52 .3710 26.1855 .00 78 .56
_ 1999 52.5/10 23 .56 /0 .00 75 .94 r
_ 2000 52 .3 /10 20.74734 -rum- 73 .52
_ 2001 52 .3710 17.7800 .00 70 . 15
_ 2002 52 .3710 12 .8833 .00 65.25
_ 2003 52 .3710 10.8670 .00 63 .24
_ 2004 52 .3710 8.7983 .00 61.17
_ 2005 52 .3710 6.6773 .00 59. 05
_ 2006 52 .3710 4 .5039 . 00 56 . 87
2007 52 .3710 2 .3043 .00 54 .68
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