Escrow Agreement ESCROW AGREEMENT
w�-
THIS AGREEMENT is made this of day of February, 2015, by and between
Carlos & Lindsay A. Mares, (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 Eight, Block Six, Eastview Estates Addtion 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
Eight Hundred Seventy Four and 61 /100 Dollars ($874.61), 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 they 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 C ay of Febr .ry, 2015.
LA
Car os Mares
"P.operty Owner"
Tni say A. Ma s
"Property Owner"
CITY OF SALINA, KANSAS
Ro ney Franz ,
"Escrow Ag t"
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this day of February,
2015, by Carlos Mares, the Property Owner.
cE
LDERRY
. � NA�iDYL. Pd�a��
� a
r*-4 Notary P^Jbac-S-ta of I ans.as
irss I� 1
A
No ary Public
STATE OF KANSAS, SALINE COUNTY, ss:
ON—
The above and foregoing instrument acknowledged before me this �f day of February,
2015, by Lindsay A. Mares, the Property Owner.
•
NANCY L. McELDERRY
Notary Public to of K1�nsas Nota ' Publi
AMY Appt. Expires
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this 2,54111.-day of February,
2015, by Rodney Franz, Finance Director of the City of Salina, Kansas, on behalf of the City of Salina,
Kansas.
Not y Public
SA5052 Special Assessments - Tract Assessments 2/19/15
11 : 22 : 27
Job: 1999-1198 Eastview Estates add (Phase II) -Street, Drainage,
and Utility Improvements 2510 g1C'(X,bricxy , 'Dr (Amortized)
Tract# Lot Block Subdivision
28749 8 6 766 EASTVIEW ESTATES ADDITION
LGL: EASTVIEW ESTATES ADDITION, S31, T14 , R2 , BLOCK 6 , Lot 8
Year Principal Interest Payments Assessment
2001 443 . 63 420 . 98 . 00 864 . 61
2002 463 . 81 400 . 80 . 00 864 . 61
2003 484 . 91 379 . 70 . 00 864 . 61
2004 506 . 97 357 . 64 . 00 864 . 61
2005 530 . 03 334 . 58 . 00 864 . 61
2006 554 . 14 310 . 47 . 00 864 . 61
2007 579 . 35 285 . 26 . 00 864 . 61
2008 605 . 70 258 . 91 . 00 864 . 61
2009 633 . 26 231 . 35 . 00 864 . 61
2010 662 . 06 202 . 55 . 00 864 . 61
2011 692 . 18 172 . 43 . 00 864 . 61
2012 723 . 67 140 . 94 . 00 864 . 61
2013 756 . 59 108 . 02 . 00 864 . 61
2014 791 . 00 73 . 61 . 00 864 . 61
2015 826 . 99 37 . 62 . 00 864 . 61
Kcm %2.3--iZS 1
P4-9(if 2-12PIIS
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
Tract# 28749
Job Number 1999-1198 Total Future Assessments Due: $864.61
Other Description: Lot 8, Block 6 Eastview Amount of Prepayment Required: $874.61
Estates Addition
. Savings on Prepayment: ($10.00)
Date of Payment or Sale 02/20/15! W/E: 2/18/2015
Discount Rate Used: 0.00%' From: http://www.federalreserve.govireleases/h15
Date First Prepaid 1 i
Assessment is Due • 12/20/20151
First prepaid assesment Scheduled Principal and Escrow Total Due
due Scheduled Principal Interest Interest Adm. Fee From Escrow
2/20/2015 (This is the Date Paid) 0
12/20/2015; +- - $826.99; $37.62 $864.61 $10.00 $874.61
12/20/2016; . $0.00 '1 $0.00 $0.00 ; $0.00 $0.00
12/20/2017', $0.00 • $0.00 $0.00 '; $0.00 $0.00
12/20/2018 $0.00 i $0.00 $0.00 ; $0.00 $0.00
12/20/2019 $0.00 i $0.00 $0.00 $0.00 $0.00
12/20/2020 . . $0.00 I $0.00 ! . . $0.00.; $0.00 $0.00
12/20/2021 $0.00 ; $0.00 ! $0.00 ; $0.00 $0.00
12/20/2022 - $0.00 $0.00 ; $0.00 ! $0.00 $0.00
12/20/2023 - $0.00 $0.00 : $0.00 ' $0.00 $0.00
12/20/2024' $0.00 $0.00 $0.00 ! $0.00 $0.00
12/20/2025 $0.00 i $0.00 ' $0.00 ' $0.00 $0.00
12/20/2026 $0.00.; $0.00 $0.00 i $0.00 $0.00
12/20/2027 $0.00 j $0.00 $0.00 I $0.00 $0.00
12/20/2028 1 $0.00 i $0.00 $0.00 1 $0.00 $0.00
12/20/2029 . • $0.00 ; $0.00 $0.00 ' $0.00 $0.00
Totals $826.99 $37.62 $864.61 $10.00 $874.61
FRB: H.15 Release--Selected Interest Rates--February 18, 2015 Page 1 of 3
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Home>Economic Research&Data>Statistical Releases and Historical Data
Selected Interest Rates (Weekly) - H.15 ® al imp ciPrint
Current Release Release Dates Daily Update Historical Data About Announcements Technical Q&As
Current Release 148 KB PDF)
Release Date: February 18,2015
The weekly release is posted on Monday.Daily updates of the weekly release are posted Tuesday through Friday on this site.If Monday is a holiday,the weekly release will be posted
on Tuesday after the holiday and the daily update will not be posted on that Tuesday.
February 18, 2015
H.15 Selected Interest Rates
Yields in percent per annum
2015 2015 2015 1 2015 1 2015 Week Ending
Instruments Feb Feb Feb Feb I Feb Feb I Feb Ian
y
t 9 10 11 12 � 13 13 I 6
■
Federal funds(effective) 1 2 3 0.12 0.12 0.12 I 0.12 I 0.12 0.12 ! 0.09 0.11
1
Commercial Paper 2 4 2A I
Nonfinancial ; 1 1
1-month 0.08 0.09 0.07 I 0.08 1 0.08 0.08 I 0.08 0.09
2-month 0.07 0.10 0.08 ; 0.09 I 0.10 0.09 1 0.10 0.10
3-month 0.11 0.11 0.11 1 0.11 I 0.12 0.11 ; 0.13 0.12
Financial 1 i
i 1-month 0.10 0.10 0.10 I 0.10 0.09 0.10 ; 0.10 0.12
2-month 0.12 0.13 n.a. 0.13 I 0.11 0.12 ' 0.13 0.14
1-- I
3-month 0.14 0.17 0.16 I 0.16 i 0.13 0.15 I 0.16 0.16
Eurodollar deposits(London)32
1-month 0.19 0.19 0.19 I 0.19 I 0.19 0.19 I 0.19 0.19
3-month 0.30 0.30 0.30 0.30 I 0.30 0.30 , 0.30 0.30
6-month 0.37 0.37 0.37 I 0.37 j 0.37 0.37 I 0.37 0.37
I Bank prime loan 2 3$ 3.25 3.25 3.25 I 3.25 I 3.25 3.25 I 3.25 3.25
I Discount window primary credit 2 9 0.75 0.75 0.75 I 0.75 I 0.75 0.75 1 0.75 0.75
U.S.government securities I I i
Treasury bills(secondary market)3 4 1 ; ;
4-week 0.02 0.02 0.02 I 0.02 I 0.02 0.02 1 0.01 0.02
3-month 0.01 0.01 0.01 0.02 j 0.01 0.01 I 0.02 0.03
6-month 0.08 0.08 0.07 I 0.07 I 0.07 0.07 ; 0.07 0.08
1-year 0.23 0.24 0.23 ( 0.22 I 0.22 0.23 i 0.20 0.18
i
Treasury constant maturities i j Nominal IQ J ;
I 1-month 0.02 0.02 0.02 I 0.02 I 0.02 0.02 I 0.01 0.02
3-month 0.01 0.01 0.01 I 0.02 I 0.01 ' 0.01 I 0.02 0.03
6-month 0.08 0.08 0.07 I 0.07 , 0.07 0.07 ' 0.07 0.08
http://www.federalreserve.gov/releases/h15/current/ 2/19/2015