Escrow Agreement - Lot 5, Block 2, Victoria Heights Sub-Division (Job #2004-1423)ESCROW AGREEMENT
THIS AGREEMENT is made this 28th day of December, 2016, by and between
John L. Wagner & Loretta A. Jarvis, (Referred to in this Agreement as "the Property GNner")
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 Five, Block Two, Victoria Heights Sub -Division 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. Pavment. The Property Owner deposits with the Escrow Agent the sum of
Three thousand two hundred fourteen and 86 /100 Dollars ($3,214.86), 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 28th day of December. 2016.
hn L. Wagner
"Property Owner"
ettA. Jan s
"Prop rty Owner"
CITY OF SALINA, KANSAS
Michelle e)r
"Escrow Agen
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this TU' day of December,
2016, by John L. Wagner, the Property Owner.
I LARRY S. CURRAN
- 4-N_'17y Put.Ec - State :t K- z
STATE OF KANSAS, SALINE COUNTY, ss:
/ "�
Not ry tblic
The above and foregoing instrument acknowledged before me this day of December,
2016, by Loretta A. Jarvis, the Property Owner. A
r3 LARRY S. CURRAN
�-.- Nc'ay Pc� • StP-'^ cf Kansas
k!y Apt. EYIies ��'!�i • ZO Nota P blic
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this�^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 WICKS 1��d1 L um
Nota Public
Ndorf Public -State of Karsas
[tAyAppt. Expires
CUSTOMER COPY
Cityof City of Salina
PO Box 736
Salina, KS 67402-0736
(785)309-5735 Fax: (785) 309-5738
Salina
Received from:
THE MORTGAGE COMPANY
Miscellaneous Receipt
Receipt 9070V
Number
Receipt Date
--12/27/16-
TIME: 17:44
CLERK: WoIffC
Charge Code Org - Object
- Proj Comment
. Description
Amount
PREPAY T#17804/17805
$6,429.72
70001 4778
Prepaid Sp. Assessmentsry
53,214.86
70001 4778
Prepaid Sp. Assessments -FL 1/
$3.214.86
000 1000
Cash
56,429.72
PAID BY:
THE MORTGAGE COMPANY
PAYMENT METH:
CHECK
93750
AMT TENDERED:
56,429.72
AMT APPLIED:
56,429.72
CHANGE:
$0.00
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
Tract #17805
Job Number 2004-1423 Total Future Assessments Due: $3,184.86
Other Description: [Hetigt5, Block 2 Victoria Amount of Prepayment Required: $3,214.86
hs Sub -Division
Savings on Prepayment: ($30.00
Date of Payment or Sale 12/28/16 W/E: 12/16/2016
Discount Rate Used: 0.00001% From: ntto://www. redera1reserve.aov/re1eases/n1'
Date First Prepaid
Assessment is Due 12/20/2017
First prepaid assesment Scheduled Principal and Escrow
due Scheduled Principal Interest Interest Adm. Fee
12/28/2016 (This is the Date Paid)
12/20/2017
$955.58
12/20/2018
$989.69
12/20/2019
$1,025.03
12/20/2020
12/20/2021
12/20/2022
$0.00
12/20/2023
$0.00
12/20/2024
$0.00
12/20/2025
$0.00
12/20/2026
$0.00
12/20/2027
$0.00
12/20/2028
$0.00
12/20/2029
$0.00
12/20/2030
$0.00
12/20/2031
$0.00
$106.04
$71.93
$36.59
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$1,061.62
$1,061.62
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$10.00
$10.00
$10.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Total Due
From
Escrow
0
$1,071.62
$1,071.62
$1,071.62
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Totals $2,970.30 $214.56 $3,184.86 $30.00 $3,214.86
SA5052 Special Assessments - Tract Assessments 12/19/16
10:56:43
Job: 2004-1423 HOLLY LANE, PHASE I
(Amortized)
Tract#
Lot
Block
Subdivision
17805
5 2
355
VICTORIA HEIGHTS
LGL: VICTORIA
HEIGHTS
SUB -DIV,
519, T14, R2,
BLOCK 2, Lot 5
------------------------------------------------------------------------------
Year
Principal
Interest
Payments
Assessment
2005
627.28
434.34
.00
1,061.62
2006
649.67
411.95
.00
1,061.62
2007
672.86
388.76
.00
1,061.62
2008
696.89
364.74
.00
1,061.62
2009
721.76
339.86
.00
1,061.62
2010
747.53
314.09
.00
1,061.62
2011
774.22
287.40
.00
1,061.62
2012
801.86
259.76
.00
1,061.62
2013
830.48
231.14
.00
1,061.62
2014
860.13
201.49
.00
1,061.62
2015
890.84
170.78
.00
1,061.62
2016
922.64
138.98
.00
1,061.62
2017
955.58
106.04
.00
1,061.62
2018
989.69
71.93
.00
1,061.62
2019
1,025.03
36.59
.00
1,061.62
FRB: H.1 5 --Selected Interest Rates, Web -Only Dailv Update-- December 16, 2016
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H.1 5 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 closed.
December 16, 2016
Selected Interest Rates
Yields in percent per annum
Federal funds (effective) 12 3 0.41 0.41 0.41 0.41 0.66
Commercial paper 2 4 6 6
2016
2016
2016
2016
2016
Instruments
Dec
Dec
Dec
1
Dec
Dec
1
9
12
13
14
15
Federal funds (effective) 12 3 0.41 0.41 0.41 0.41 0.66
Commercial paper 2 4 6 6
Nonfinancial
1 -month
0.54
0.60
0.59
0.68
0.63
2 -month
0.63
0.67
0.66
0.68
0.69
3 -month
0.73
0.77
0.73
0.74
0.70
Financial
1 -month
0.59
0.69
0.60
0.69
2 -month
0.68
0.82
0.74
0.74
3 -month
0.92
0.96
0.88
1.03
Bank prime loan 2 3 7
3.50
3.50
3.50
3.75
Discount window primary credit 2 a
[3.50
1.00
1.00
1.00
1.25
U.S. government securitiesTreasury
bills (secondary market) 3.
4
4 -week
040
046
0.48
0.43
-month
0.51 I0.54
0.54
0.50
6 -month
0.63
0.65
0.65
0.64
1 -year
0.83
0.83 I
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 I
0.66
0.66
0.65
1 -year
0.85
0.85
0.88
0.92
0.91
2 -year
1.15
1.15
1.17
1.27
1.29
3 -year
1.43
1.44
1.46
1.57
1.61
5 -year
1.89
1.90
1.92
2.02
2.10
7 -year
2.26
2.26
2.26
2.34
2.42
10 -year
2.47
2.49
2.48
2.54
2.60
20 -year
2.87
2.86
2.85
2.86
2.89
https://«,��,%v.federaireserve.gov/releasesihl51 12/19/2016