Escrow Agreement ESCROW AGREEMENT
THIS AGREEMENT is made this 1st day of August, 2014, by and between Larry
• D. & Caroline A. Manz, (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 Ten (10), Block Seven (7) Quail Meadows Estates Addition in the City
of Salina, Saline County, Kansas.
(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
Thirteen Thousand Five Hundred Sixty Dollars and 70 /100 Dollars ($13,560.70), 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 $10.00 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 1st day of August, 2014.
ice_ ! "M
Larry D. ►J anz
"Property Owner"
ty...pree,0-10./..i ....7ffeeev
Caroline A. Manz
"Property Owner"
CITY OF • LINA, KANSAS
•
La", .......„,,,, .
Ro rey ranz /
"Escrow Agent"
STATE OF KANSAS, SALINE COUNTY, ss:
•
• The above and foregoing instrument acknowledged before me this ___ day of August,
2014, by Larry D. Manz, the Property Owner.
SHANDI L. WICKS
No Public- State of Kansas
MyAppt.Expires f ie ■ 4a■Ade �t � GW
N tary Public
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this �`�' day of August,
2014, by Caroline A. Manz, the Property Owner.
SHANDI L. WICK. 4,, i /o Notary Pudic- State of Kann y:. ,,,,,,4 -
MyAppt.Expires �i _,_f Public
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this I? day of August,
2014, by Rodney Franz, Finance Director of the City of Salina, Kansas, on behalf of the City of Salina,
Kansas.
SHANDI L. WICKS `'n !,
> Notary Public- State o/{ Kansas (,(12,-t
MyAppt.Expires / j�/�p No ry Public
zc
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
Tract# • 30373
Job Number 2007-2664 Total Future Assessments Due: $13,460. 0
utner uescription: :Lot 10, Block 7 Quail Amount of~repayment~required: 4313,56U.
Meadows Estates Add.
Savings on Prepayment: ($100.00)
Date of Payment or Sale • 08/01/14: W/E: 7/21/2014
Discount Rate Used: 0.00%,' From: http://www.federalreserve.qov/releases/h15
Date First Prepaid •
Assessment is Due 12/20/2014
.
First prepaid assesment Scheduled Principal and Escrow Total Due
due Scheduled Principal Interest Interest Adm. Fee From Escrow
8/1/2014 (This is the Date Paid) 0
12/20/2014: $980.301 $365.77 i
$1,346.07 $10.00 $1,356.07
12/20/2015, $1,011.88 $334.19 $1,346.07 $10.00 $1,356.07
12/20/20161 $1,044.48 $301.59 ; $1,346.07 $10.00 $1,356.07
12/20/2017 $1,078.13 $267.94 i $1,346.07 $10.00 $1,356.07
12/20/2018' $1,112.87 ! $233.20 $1,346.07 $10.00 $1,356.07
12/20/2019 • $1,148.72 $197.35 $1,346.07 $10.00 $1,356.07
12/20/2020 $1,185.73 $160.34 $1,346.07 $10.00 $1,356.07
12/20/2021 $1,223.93 $122.14 $1,346.07 $10.00 $1,356.07
12/20/2022: $1,263.36 $82.71 . $1,346.07 $10.00 $1,356.07
12/20/2023. • $1,304.06 $42.01 $1,346.07 $10.00 $1,356.07
12/20/2024 - $0.00 $0.00 : - $0.00 $0.00 $0.00
12/20/2025, $0.00 $0.00 $0.00 $0.00 $0.00
12/20/2026 $0.00 $0.00 $0.00 $0.00 $0.00
12/20/2027 $0.00 $0.00 $0.00 $0.00 $0.00
12/20/2028 $0.00 $0.00 • $0.00 $0.00 $0.00
Totals $11,353.46: $2,107.24 $13,460.70 $100.00 $13,560.70
r ._
SA5052 Special Assessments - Tract Assessments 7/21/14
15 : 30 : 50
Job: 2007-2664 QUAIL MEADOWS ESTATES ADDITION PHASE IV
(Amortized)
Tract# Lot Block Subdivision
30373 10 7 839 QUAIL MEADOWS ESTATES ADD
LGL: QUAIL MEADOWS ESTATES ADD, S36 , T14 , R3 , BLOCK 7 , Lot 10
Year Principal Interest Payments Assessment
2009 836 . 57 509 . 50 . 00 /*' 1, 346 . 07
2010 863 . 52 482 . 55 . 00 1, 346 . 07
2011 891 . 34 454 . 73 . 00 1, 346 . 07
2012 920 . 06 426 . 01 . 00 1, 346 . 07
2013 949 . 70 396 . 37 . 00-7771 365 . 77 . 00 1, 346 . 0
2015 1, 011 . 88 334 . 19 . 00 1, 346 . 07
2016 1, 044 . 48 301 . 59 . 00 1, 346 . 07
2017 1, 078 . 13 267 . 94 . 00 1, 346 . 07
2018 1, 112 . 87 233 . 20 . 00 1, 346 . 07
2019 1, 148 . 72 197 . 35 . 00 1, 346 . 07
2020 1, 185 . 73 160 . 34 . 00 1, 346 . 07
2021 1, 223 . 93 122 . 14 . 00 1, 346 . 07
2022 1, 263 . 36 82 . 71 . 00 1, 346 . 07
2023 1, 304 . 06 42 . 01 . 00 1, 346 . 07
FRB: H.15 Release--Selected Interest Rates -July 21, 2014 Page 1 of 3
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Home>Economic Research&Data>Statistical Releases and Historical Data
Selected Interest Rates(Weekly) - H.15 ® JIll DOP APrint
Current Release Release Dates' Daily Update Historical Data About Announcements Technical Q&As
Current Release (48 KB PDF)
Release Date:Jul'21.2014
The weekly release is posted on Monday.Daily updates of the weekly release are posted Tuesday through Friday on this site.If Monday is a holiday,the weekly release will be posted
on Tuesday after the holiday and the daily update will not be posted on that Tuesday.
July 21,2014
H.15 Selected Interest Rates
Yields in percent per annum
•
-2014 2014 2014 2014 2014 I Week Ending
Instruments Jul Jul i Jul Jul Jul i 2014
14 15 16 i 17 18 Jul Jul Jun
• i
18 11
Federal funds(effective)33 2 0.09 0.09 0.09 I 0.09 0.09 1 0.09 0.09 0.10
I Commercial Paper 3 4 5 6
Nonfinancial i •
1-month 0.10 0.06 0.10 0.08 0.07 0.08 i 0.06 0.06
2-month 0.08 0.08 I 0.10 ( 0.08 0.09 0.09 i 0.07 0.08
3-month 0.10 0.10 ? 0.11 0.10 0.11 0.10 0.10 0.10
Financial l I 1
1-month i 0.06 0.05 0.12 0.10 n.a. t 0.08 0.09 0.07
2-month ( 0.09 0.08 n.a. 0.11 0.09 0.09 0.10 0.08
3-month 0.13 0.11 I 0.15 0.13 0.11 0,13 0.13 0.11
Eurodollar deposits(London)22
1-month 0.17 0.17 0.17 0.17 0.17 0.17 0.17 0.17
i
3-month 0.24 0.24 0.24 0.24 0.24 0.24 0.24 0.24
_
6-month 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.37
Bank prime loan 2 3 5 I 3.25 3.25 3.25 1 3.25 3.25 3.25 3.25 3.25
Discount window primary credit 2 2 0.75 0.75 i 0.75 0.75 0.75 0.75 0.75 0.75
U.S.government securities
Treasury bills(secondary market)34 1
4-week 0.02 0.02 0.02 0.02 0.03 0.02 I 0.02 0.02
3-month 0.03 0.02 0.02 j 0.02 0.02 I 0.02 0.03 0.04
6-month 0.06 0.06 0.06 I 0.06 0.05 I 0.06 , 0.06 0.06
1-year 0.10 0.10 0.10 { 0.09 0.08 0.09 0.10 0.10
Treasury constant maturities
I
Nominal IQ I
1-month 0.02 0.02 ! 0.02 0.02 0.03 I 0.02 j 0.02 0.02
l
3-month I 0.03 0.02 0.02 i 0.02 0.02 0.02 i 0.03 0.04
6-month 1 0.06 0.06 ( 0.06 , 0.06 0.05 0.06 j 0.06 0.06
1-year 0.11 j. 0.11 0.11 0.10 0.10 0.11 0.11 0.10
2-year 0.48 0.49 0.50 0.47 0.51 0.49 0.50 0.45
3-year 0.950.97 I 0.98 j 0.94 0.97 0.96 0.96 0.90
5-year . I 1.68 1.70 1.71 1.65 1.69 1.69 1 1.69 1.68
http://www.federalreserve.gov/releases/h 15/current/ 7/24/2014