Untitled (2) ESCROW AGREEMENT
C
THIS AGREEMENT is made this 5th day of September, 2002, 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 33, 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 Seven hundred
sixty nine and 13 /100 Dollars ($769.13), 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 the date 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 5th day of September, 2002.
U
R•.er "dr. Siemsen
"'roperty Owner"
AP ALS
J er L. .iemsen
"7opert Owner"
CITY OF SALINA, KANSAS
By sit �r
Rodney Franz _
Of
"Escrow Agent'
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this day of September,
2002, by Roger K. and Jenifer L. Siemsen, the Property Owner.
CATHY HADORN /
NOTARY BIIC
A STATE O KA r`
•
Notary Public
STATE OF KANSAS, SALINE COUNTY, ss:
Ch
The above and foregoing instrument acknowledged before me this day of September, 2002,
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 IDI1 1 OZ i I
Notary Public
•
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
Tract# 29095
Job Number 99-1180A Total Future Assessments Due:
Other Description: Lot 33, Blk 7 River Trail Amount of Prepayment Required: .
Addition Savings on Prepayment: ($0.63)
Date of Payment or Sale 09/05/02 W/E: 8/30/02
Discount Rate Used: 0.76% From: htto://www.federalreserve.gov/releases/h15
Date First Prepaid
Assessment is Due 12/20/03
2000 - A
Total Due
First prepaid assesment Scheduled Principal Escrow Adm. From
due Scheduled Principal Interest and Interest Fee Escrow
9/5/02 (This is the Date Paid) 0
12/20/03 $48.78 $27.07 $75.85 . $3.79 $79.64 •
12/20/041 $48.78 $25.22 $74.00 $3.70 $77.70
•
12/20/055• $48.78 $23.17 $71.95 : $3.60 -$75.55
12/20/06 $48.78 $21.07 $69.85 $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
12/20/11 $48.78 $9.95 $58.73 $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 $2.56 $51.34 $2.57 $53.91
12/20/15 $0.00 $0.00 $0.00 $0.00 $0.00
12/20/16 $0.00 $0.00 $0.00 $0.00 $0.00
12/20/17 $0.00 $0.00 $0.00 $0.00 $0.00
Totals $585.36 $183.77 $769.13 $38.46 $807.59 t
5762.9.13
TIC= Ed?*-C
. t.o l- 3� ram. ^7
w57O2 ivcr - 1 raj f l mil.
� OLD + del t �te
SA1030 INQUIRE Special Assessments - Tract Master Maintenance 9/04/02
11:57 :20
Job: 1999-1180A River Trail Addition, Phase 1
Tract# Lot Block Subdivision
29095 33 007 771 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
4/410Z — E ar.ja da
b Y# wc.Wcl9Cd.
60
,• I:*
°y1
► „ , Hof
1.0 e►`
c&,a
•
SA5050 .Special Assessments - Tract Assessments 9/03/02
9 : 50 : 07
Job: 1999-1180A River Trail Addition, Phase 1
Tract# Lot Block Subdivision
29095 33 007 771 RIVER TRAIL ADD
LGL:
Year Principal Interest Payments Assessment
2000 48 . 78 47 . 56 . 00 96 . 34
2001 48 . 78 44 . 39 . 00 93 . 17
2002 48 . 78 • •
2003 48 . 78 27 . 07 . 00 75 . 85
2004 48 . 78 25 . 22 . 00 74 . 00
2005 48 . 78 23 . 17 . 00 71 . 95
2006 48 . 78 21 . 07 . 00 69 . 85
2007 48 . 78 18 . 93 . 00 67 . 71
2008 48 . 78 16 . 65 . 00 65 . 43
2009 48 . 78 14 . 34 . 00 63 . 12
2010 48 . 78 12 . 20 . 00 60 . 98
2011 48 . 78 9 . 95 . 00 58 . 73
2012 48 . 78 7 . 54 . 00 56 . 32 I
2013 48 . 78 5 . 07 . 00 53 . 85 I
2014 48 . 78 2 . 56 . 00 51 . 34
City of Salina
iii `'t se 9/05/2002 P.O. Box 736
Salina, Kansas 67402-0736 RECEIPT NO. 45629
sauna 170
DESCRIPTION AMOUNT
PREPAID SP TRACT#29095 LOT 33, BLK 7 RIVER TRA 769. 13
553-000 557. 000
V:7
CHECK 3428 769 . 13
J07 1
RECEIVED
FROM
ROGER SIEMSEN TOTAL PAID 769. 13
ORIGINAL RECEIPT