Untitled ESCROW AGREEMENT
THIS AGREEMENT is made this 31st day of May, 2001, by and between Roger K. and Jenifer L.
Siemsen, (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 34, Blk 7 River Trail 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 Eight hundred
eleven and 48 /100 Dollars ($811.48), 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, 2014, 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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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 31st day of May, 2001.
/ 4 /de
oge . Siemsen
Property Owner"
./ i at 1 44 4. J
J:riferL iemsen
• ' 'rope,yJOwner"
CITY OF SALINA, KANSAS
By kr
Rodney Franz
"Escrow Agent"
STATE OF KANSAS, SALINE COUNTY, ss:
5�
The above and foregoing instrument acknowledged before me this 3 day of May, 2001, by
Roger K. and Jenifer L. Siemsen, the Property Owner.
PENNY DAY
Cigel Notary Public-Stile of Kansas
My Appt. Expires I 0 I7 b a
Notary Public
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this 31 day of May, 2001, by Rodney
Franz, Finance Director of the City of Salina, Kansas, on behalf of the City of Salina, Kansas.
PENNY DAY
F Notary Public-State of Kansas
My Appt. Expires 2 . • Its -
Notary Public
•
City of Salina
Special Assessment Prepayment Form ,
Summary of Findings:
Tract# j' 29094
Job Number 99-1180A Total Future Assessments Due: $949.92'
Other Description: Lot 34, Blk 7 River Trail Amount of Prepayment Required: $811.48.
Addition Savings on Prepayment: $138.44
0,40o -64-Date of Payment or Sale 05/31/01: W/E: 5/11/01_..1
Discount Rate Used: 3.43%l From: htto://www.federalreserve.gov/releases/h15
Date First Prepaid '
Assessment is Due 12/20/01
Total Due
First prepaid assesment Scheduled Principal Escrow Adm. From
due Scheduled Principal Interest and Interest Fee Escrow
5/31/01 (This is the Date Paid) 0
12/20/01 $48.78 $44.39 -__ $93.17 $4.66 $97.83
12/20/02 $48.78 $38.84 $87.62 $4.38 $92.00
12/20/03 $48.78 ' $27.07 $75.85 ' $3.79 $79.64
12/20/04' $48.78 $25.22 . $74.00 ; $3.70 $77.70
12/20/05. $48.78 ' $23.17 $71.95 i $3.60 $75.55
12/20/061 $48.78 ' $21.07 . $69.85 I $3.49 $73.34
12/20/07' $48.78 $18.93 $67.71 $3.39 $71.10
12/20/08 $48.78 , $16.65 $65.43 ' $3.27 $68.70
12/20/09 $48.78 $14.34 $63.12 ; $3.16 . $66.28
12/20/10 $48.78 $12.20 $60.98 ' $3.05 $64.03
12/20/111 $48.78 / $9.95 1 $58.73 I $2.94 $61.67
12/20/12 $48.78 $7.54 $56.32 ' $2.82 $59.14
12/20/13 $48.78 ' $5.07 $53.85 ' $2.69. $56.54
. 12/20/14 $48.78 i $2.56 $51.34 ' $2.57 $53.91
12/20/15 $0.00 ' $0.06 $0.00 $0.00 $0.00
Totals $682.92 $267.00 $949.92 $47.50 $997.42
SA1030 INQUIRE Special Assessments - Tract Master Maintenance 5/30/01
09:03 :08
Job: 1999-1180A River Trail Addition, Phase 1
Tract# Lot Block Subdivision
29094 34 007 771 RIVER TRAIL ADD
Legal Desc:
Units (FF) . . . : 1.0000 Units (SF) . . . . .0000
Manual Adjustment: . 00 Dev. Payments . . . .00
Assess Principal : 731.70 Owner 30 Day Pymt: .00
Last Split Year. : Units: .0000 _ (C, E or Blank)
Owner Name 1. . : SIEMSEN ROGER K & JENIFER L
% Name
Owner Name 2 . .
Address • 1256 EASTGATE DR
City, State, Zip: SALINA KS 67401-8365
Status (D-inactive, Blank-active)
Help F3=Exit FlO=Extract F12=Cancel
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SA5050DF Special Assessments - Work With Tract Assessments 5/29/01
11:34 :20
Job: 1999-1180A River Trail Addition, Phase 1
Tract# Lot Block Subdivision
29094 34 007 771 RIVER TRAIL ADD
Lgl:
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
_ 2000 48.7800 4.7-..5605 .00 96.34 .
_ 2001 48.7800 44 .3898 .00 93 .17
_ 2002 48.7800 38.8411 . 00 87.62
_ 2003 48.7800 27.0729 .00 75.85
_ 2004 48.7800 25 .2193 .00 74 . 00
_ 2005 48.7800 23 . 1705 . 00 71. 95
_ 2006 48.7800 21.0730 .00 69. 85
_ 2007 48.7800 18 . 9266 .00 67 .71
_ 2008 48.7800 16.6462 .00 65 .43
2009 48.7800 14 .3413 .00 63 .12 +
Help F3=Exit F5=Refresh F6=Create F12=Cancel
OE - 5/1110
(-1,14-
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SA5050DF Special Assessments - Work With Tract Assessments 5/29/01
11:34 :46
Job: 1999-.1180A River Trail Addition, Phase 1
Tract# Lot Block Subdivision
29094 34 007 771 RIVER TRAIL ADD
Lg1:
Type options, press ENTER.
2-Change 4-Delete 5-Display
Opt Year Principal Interest Payments Assessment
•
_ 2010 48 .7800 12 . 1950 .00 60 . 98
_ 2011 48.7800 9.9511 .00 58 .73
_ 2012 48.7800 7.5365 .00 56.32
_ " 2013 48.7800 5.0731 .00 53 .85
2014 48 .7800 2 .5610 .00 51.34
Help F3=Exit FS=Refresh F6=Create F12=Cancel
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