Escrow Agreement - Lot 2, Block 4 Quail Meadows Estates Addition (Job #2006-1608) ESCROW AGREEMENT
THIS AGREEMENT is made this 23rd day of December, 2016, by and between
Michael G. & Deborah K. McEldowney, (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 Two, Block Four, 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
Eight thousand three hundred thirty two and 86 /100 Dollars ($8,332.86), 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 23`d day of December, 2016.
Mich 1 G McEldowney
"Property Owner"
� A 6. �
Deborah K. McEldowney
"Property Owner"
CITY OF SALINA, KA
1eMeye '
"Escrow Agent"
STATE OF KANSAS, SALINE COUNTY, ss:
NI
The above and foregoing instrument acknowledged before me this.2) day of December,
2016, by Michael McEldowney, the Property Owner.
le(aNotary Public �"
AUSTIN HOPPOCK
a NOTARY AMC
STATE OF KANSAS; SALINE COUNTY; ss: g, s ,.. STATE. MAps
The above and foregoing instrument acknowledged before me this . day of December,
2016, by Deborah McEldowney, the Property Owner.
Notary Public
Si
AUSTIN HOPPO=C
z UOTARYMUG
r,
i
. . . STATECWM/ S
STATE OF KANSAS, SALINE COUNTY, ss: _ . ttYApPL EP. _-i?-ir
The above and foregoing instrument acknowledged before me this A FIN day of December,
2016, by Michelle Meyer, Finance Director of the City of Salina, Kansas, on behalf of the City of Salina,
Kansas.
SHANDI L. WICKSyy��_ •
Notary Public- State at Kansas /I()fkit_ t u,
My Appt.Expires ,-f _!.mss Not ry Public
CUSTOMER COPY Miscellaneous Receipt
City of City of Salina R•
eceipt 9026
PO Box 736 Number •
Salina, KS 67402-0736
(785) 309-5735 Fax: (785) 309-5738 • ReceiptDate
Sarna 12/22/16
Received from:
LAND TITLE SERVICES,
TIME: 14:58
CLERK:WoIffC
Charge Code Org ,- Object - Proj Comment Description Amount
T#30362-PREPAY J#06- 58.651.16
70001 4778 Prepaid Sp.Assessments 5318.30
70001 4778 Prepaid Sp.Assessments 58.332.86
000 1000 Cash 58,651.16
PAID BY: LAND TITLE SERVICES,
PAYMENT METH: CHECK
26316
AMT TENDERED: 58,651.16
AMT APPLIED: $8.651.16
CHANGE: 50.00
LAND TITLE SERVICES,INC. "** REAL ESTATE CLOSING **** 26316
ESCROW ACCOUNT
Buyer/Borrower: Ronald J. Heier and Patricia L Heier
Seller: Michael G. McEldowney and Deborah K. McEldowney
Lender: First Bank Kansas
Property: 626 Rittgers Ln/ Salina
Settlement Date: December 22, 2016 Closer/Responsible Party: Austin H.
Disbursement Date: December 22, 2016
Check Amount: $ 8,651.16 (TI16-14944.PFD/TI16-14944/17)
Pay To: City of Salina
For: Special Assessments
Spedal Assessments $8,651.16
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
Tract# 30362
Job Number 2006-1608 Total Future Assessments Due: $8,272.86
Other Description: Lot 2, Block 4, Quail Amount of Prepayment Required: $8,332.86
Meadows Estates Add
Savings on Prepayment: ($60.00)
Date of Payment or Sale 12/23/16 W/E: 1 12/16/2016
Discount Rate Used: 0.00001% From: Attp://www.tederalreserve.gov/releases/hiE
Date First Prepaid
Assessment is Due 12/20/2017
Total Due
First prepaid assesment Scheduled Principal and Escrow From
due Scheduled Principal Interest Interest Adm. Fee Escrow
12/23/2016 (This is the Date Paid) 0
12/20/2017 $1,104.90 $273.91 $1,378.81- $10.00 $1,388.81
12/20/2018 $1,146.44 $232.37 $1,378.81 $10.00 $1,388.81
12/20/2019 $1,189.55 $189.26 $1,378.81 $10.00 $1,388.81
12/20/20201 $1,234.28 $144.53 $1,378.81 $10.00 $1,388.81
12/20/2021 $1,280.69 $98.12 $1,378.81 $10.00 $1,388.81
12/20/2022 $1,328.85 $49.96 $1,378.81 $10.00 $1,388.81
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 $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
12/20/2029 $0.00 $0.00 $0.00 $0.00 $0.00
12/20/2030 $0.00 $0.00 $0.00 $0.00 $0.00
12/20/2031 $0.00 $0.00 $0.00 $0.00 $0.00
Totals $7,284.71 $988.15 $8,272.86 $60.00 $8,332.86
SA5052 Special Assessments - Tract Assessments 12/19/16
9 : 35 :47
Job: 2006-1608 QUAIL MEADOWS ESTATES PHASE III
(Amortized)
Tract# Lot Block Subdivision
30362 2 4 839 QUAIL MEADOWS ESTATES ADD
LGL: QUAIL MEADOWS ESTATES ADD, S36 , T14 , R3 , BLOCK 4 , Lot 2
Year Principal Interest Payments Assessment
2008 792 . 59 586 . 22 . 00 1, 378 . 81
2009 822 . 39 556 . 42 . 00 1, 378 . 81
2010 853 . 32 525 . 49 . 00 1, 378 . 81
2011 885 . 40 493 . 41 . 00 1, 378 . 81
2012 918 . 69 460 . 12 . 00 1, 378 . 81
2013 953 . 24 425 . 57 . 00 1, 378 . 81
2014 989 . 08 389 . 73 . 00 1, 378 . 81
2015 1, 026 . 27 352 . 54 . 00 1, 378 . 81
2016 1, 064 . 86 313 . 95 _ . . 00 1 , 378 . 81
2017 1, 104 . 90 273 . 91 . 00 1, 378 . 81
2018 1, 146 . 44 232 . 37 . 00 1, 378 . 81
2019 1, 189 . 55 189 . 26 . 00 1, 378 . 81
2020 1, 234 . 28 144 . 53 . 00 1, 378 . 81
2021 1, 280 . 69 98 . 12 . 00 1, 378 . 81
2022 1, 328 . 85 49 . 96 . 00 1, 378 . 81
FRB: H.15--Selected Interest Rates, Web-Only Daily Update-- December 16, 2016 Page 1 of 3
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Home>Economic Research&Data>Statistical Releases and Historical Data
Selected Interest Rates (Daily) - H.1S ® 'a GDP LAPrint
I Current Release About Announcements Technical Q&As 1
I
H.15 Selected Interest Rates
The release is posted daily Monday through Friday at 4:15pm.The release is not posted on holidays or in the event that the Board is dosed.
December 16, 2016
Selected Interest Rates
Yields in percent per annum
2016 2016 2016 2016 2016
Instruments Dec Dec Dec Dec Dec
9 12 13 14 15
Federal funds(effective)12 3 0.41 0.41 0.41 0.41 0.66
Commercial Paper 2 4 al
Nonfinancial
1-month 0.54 0.60 0.59 0.68 0.63
2-month 0.63 I 0.67 0.66 0.68 0.69
3-month 0.73 0.77 0.73 0.74 0.70
Financial
1-month 0.52 0.59 0.69 0.60 0.69
2-month 0.65 0.68 0.82 0.74 0.74
3-month 0.77 0.92 0.96 0.88 1.03
Bank prime loan al Z 3.50 3.50 3.50 3.50 3.75
Discount window primary credit 2 a 1.00 I 1.00 1.00 1.00 1.25
U.S.government securities I I
Treasury bills(secondary market)3 4
4-week 0.39 0.40 0.46 0.48 0.47
3-month 0.53 0.51 0.54 0.54 0.50
6-month 0.63 0.63 0.65 0.65 0.64
1-year 0,83 0.83 0.86 0.89 0.88
Treasury constant maturities
Nominal 2
1-month 0.41 0.42 0.47 0.49 0.48
3-month 0.54 0.51 0.54 0.55 0.51
6-month 0.64 0.64 0.66 0.66 0.65
1-year I 0.85 0.85 I 0.88 0.92 0.91
2-year I 1.15 1.15 I 1.17 I 1.27 1.29
3-year 1.43 1.44 I 1.46 1.57 1.61
5-year 1.89 1.90 I 1.92 2.02 2.10
7-year 2.26 2.26 1 2.26 2.34 2.42
10-year 2.47 2.49 2.48 2.54 2.60
20-year 2.87 2.86 I 2.85 2.86 2.89
i
https://www.federalreserve.gov/releases/h15/ 12/19/2016