Escrow Agreement (Lot 13, Block 14 Belmont Addition) ii -
ESCROW AGREEMENT
THIS AGREEMENT is made this 25th day of July, 2001, by and between First Bank Kansas,
(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 13, Blk 14 Belmont 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:
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1. Payment. The Property Owner deposits with the Escrow Agent the sum of Eight hundred
seventy and 99 /100 Dollars ($870.99), 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, 2015, 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 25th day of July, 2001.
411"a /
Thomas J. Runyon Exec. .
• First Bank Kansas
"Property Owner"
CITY OF SALINA, KANSAS
By Lr ) L'
Rodney Franz
"Escrow Agent"
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this .26 day of July, 2001, by
Thomas J. Runyon, Exec. V.P. First Bank Kansas, the Property Owner.
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State of K�nsas /si///I/ ���i J
Mykpl.Exp, 01 1LYb ��^-..�`u'�
d
Notary Public
STATE OF KANSAS, SALINE COUNTY, ss: �/_
The above and foregoing instrument acknowledged before me this U.(G day of July,2001, by Rodney
Franz, Finance Director of the City of Salina, Kansas, on behalf of the City of Salina, Kansas.
PENNY DAY
Notary Public-State of Kansas
My Appt.Expires job/4?, I. It As. • s
Notary • if
I - f
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
Tract# 13351
Job Number 98-1138 Total Future Assessments Due: $1,001.85
Other Description: Lot 13, Blk 14 Belmont Amount of Prepayment Required: $870.99
Z , _� ;Addition Savings on Prepayment: $130.86
Date of Payment or Sale i ! 07/25/01 W/E: 7/16/_01_
Discount Rate Used: 2.67%' From: htto://www.federalreserve.gov/releases/h15
Date First Prepaid
Assessment is Due 1 12/20/01
•
Total Due
First prepaid assesment Scheduled Principal Escrow Adm. From
due Scheduled Principal Interest and Interest Fee Escrow
7/25/01 (This is the Date Paid) 0
12/20/01 $34.27 $32.52 l .. - $66.79 . $3.34 $70.13
12/20/02. $35.83 $30.96 $66.79 $3.34 $70.13
12/20/03. ; $37.46 1 $29.33 $66.79 ; $3.34 $70.13
12/20/04' $39.16 $27.63 $66.79 $3.34 $70.13
12/20/05 $40.94 $25.85 $66.79 $3.34 $70.13
12/20/06 . $42.81 $23.98 $66.79 . $3.34 $70.13
12/20/07 $44.75 44.75 $22.04 $66.79 $3.34 $70.13
12/20/081 ' -. $46.79 ' $20.00 ' $66. 79 $3.34 $70.13
12/20/09; $48.92 $17.87 $66.79 , $3.34 $70.13
12/20/10 $51.14 $15.65 ; - $66.79 $3.34 $70.13
12/20/11 ' $53.47 , $13.32 $66.79 $3.34 $70.13
12/20/12 $55.90 , $10.89 $66.79 $3.34 $70.13
12/20/13 $58.44' $8.35 $66.79 $3.34 $70.13
12/20/14' $61.10 $5.69 $66.79 $3.34 $70.13
12/20/151 . $63.88 ' $2.91 ' $66.79 • $3.34 $70.13
Totals $714.86 $286.99 $1,001.85 $50.09 $1,051.94
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SA5052 Special Assessments - Tract Assessments 7/24/01
10 : 41 : 54
Job: 1998-1138 Belmont Addition - Drainage Improvements
(Amortized)
Tract# Lot Block Subdivision
13351 13 014 013 BELMONT ADD
LGL:
Year Principal Interest Payments Assessment
2001 34 . 2683 32 . 5217 . 00 66 . 79
2002 35 . 8272 30 . 9628 . 00 66 . 79
2003 37 . 4570 29 . 3330 . 00 66 . 79
2004 39 . 1609 27 . 6291 . 00 66 . 79
2005 40 . 9423 25 . 8477 . 00 66 . 79
2006 42 . 8048 23 . 9852 . 00 66 . 79
2007 44 . 7520 22 . 0380 . 00 66 . 79
2008 46 . 7878 20 . 0022 . 00 66 . 79
2009 48 . 9161 17 . 8739 . 00 66 . 79
2010 51 . 1413 15 . 6487 . 00 66 . 79
2011 53 . 4677 13 . 3223 . 00 66 . 79
2012 55 . 9000 10 . 8900 . 00 66 . 79
2013 58 . 4429 8 . 3471 . 00 66 . 79
2014 61 . 1014 5 . 6886 . 00 66 . 79
2015 63 . 8810 2 . 9090 . 00 66 . 79
�i a City of Salina
(it 4,4P * 7/25/2001 P.O. Box 736
o.... 4 Salina, Kansas 67402-0736 RECEIPT NO. 27209
sRLIna 130
DESCRIPTION AMOUNT
PREPAID SP Tract# 13351 Lot 13 Blk 14 Belmont A 870.99
553-000 557. 000
*\\„\\
CHECK 44246 870.99 .
RECEIVED
FROM First Bank TOTAL PAID �YJ� 870.99
ORIGINAL RECEIPT
•
City of Salina
Special Assessment Prepayment Form •
Summary of Findings:
Tract# 13351
Job Number 98-1138 Total Future Assessments Due: $1,001.85
Other Description: (Lot 13, Blk 14 Belmont Amount of Prepayment Required: $870.86
Addition Savings on Prepayment: $130.99
Date of Payment or Sale 07/23/01i W/E: 7/16/01
Discount Rate Used: 2.67% From: bttp://www.federal reserve.govireleases/h 15
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
7/23/01 (This is the Date Paid) 0
12/20/01 $34.27 • $32.52 $66.79 • $3.34 $70.13
12/20/02 $35.83 $30.96 , $66.79 , $3.34 $70.13
12/20/03: $37.46 $29.33 : $66.79 $3.34 $70.13
12/20/04' $39.16 $27.63 $66.79 $3.34 $70.13
12/20/05' $40.94 $25.85 $66.79 $3.34 $70.13
12/20/06 - $42.81 , $23.98 $66.79 $3.34 $70.13
12/20/07 $44.75 . $22.04 $66.79 $3.34 $70.13 •
12/20/08 $46.79 I $20.00 $66.79 , $3.34 $70.13
12/20/09 $48.92 ' $17.87 $66.79 1 $3.34 $70.13
12/20/10 1 $51.14 , $15.65 $66.79 , $3.34 $70.13
12/20/11 . $53.47 $13.32 $66.79 I $3.34 $70.13
12/20/121 $55.90 $10.89 $66.791 $3.34 $70.13
12/20/13' $58.44 $8.351 $66.79 1 $3.34 $70.13•
12/20/141 $61.10 I $5.69 $66.79 i $3.34 $70.13
12/20/15 $63.88_I $2.91 $66/9 1 $3.34 $70.13
Totals $714.86 $286.99 $1,001.85 $50.09 $1,051.94
SA505'2 ' U, Special Assessments - Tract Assessments 7/20/01
11 : 40 : 28
Job: 1998-1138 Belmont Addition - Drainage Improvements
(Amortized)
Tract# Lot Block Subdivision
13351 13 014 013 BELMONT ADD
LGL:
Year Principal Interest Payments Assessment
2001 34 . 2683 32 . 5217 . 00 66 . 79
2002 35 . 8272 30 . 9628 . 00 66 . 79
2003 37 .4570 29 . 3330 . 00 66 . 79
2004 39 . 1609 27 . 6291 . 00 66 . 79
2005 40 . 9423 25 . 8477 . 00 66 . 79
2006 42 . 8048 23 . 9852 . 00 66 . 79
2007 44 . 7520 22 . 0380 . 00 66 . 79
2008 46 . 7878 20 . 0022 . 00 66 . 79
2009 48 . 9161 17 . 8739 . 00 66 . 79
2010 51 . 1413 15 . 6487 . 00 66 . 79
2011 53 . 4677 13 . 3223 . 00 66 . 79
2012 55 . 9000 10 . 8900 . 00 66 . 79
2013 58 .4429 8 . 3471 . 00 66 . 79
2014 61 . 1014 5 . 6886 . 00 66 . 79
2015 63 . 8810 2 . 9090 . 00 66 . 79
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