Escrow Agreement - Lot 4, 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. Janis, (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 Four, 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. Payment. 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.
o�ner 17
"Property Owner"
6lw
rett A. Jarvi
"Property Owner"
CITY OF SALINA, KANSAS
Michelle Me ,er
"Escrow Agen
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this �" `day of December.
2016, by John L. Wagner, the Property Owner.
L
LARRY S. CURRAN
K-'a;y Pt90- Sats M Karjas
AopL E.-ires I1 • R- 'A011
STATE OF KANSAS, SALINE COUNTY, ss:
�6�L
Not"blic
The above and foregoing instrument acknowledged before me this V— day of December,
2016, by Loretta A. Janis, the Property Owner.
!j LARRY S. CURRAN
r. -f-'' ) N -_:a7 °c. is - c, rFas
STATE OF KANSAS, SALINE COUNTY, ss:
�L
Not ry P blic
The above and foregoing instrument acknowledged before me this j 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
Notary Public 0 bf K"sa§ M-A'U/l l-. w l l)lV
My Appt. E,oire Notary` Public
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 9074U
Number
Receipt Date
12/27/16
—]
TIME: 17:44
CLERK: WoIffC
Charge Code Org - Object - Proj Comment Description Amount
PREPAY T#17804117805 36.429.72
70001 4778 Prepaid Sp. Assessments f 7e f% $3,214.86
70001 4778 Prepaid Sp. Assessments $3.214.86
000 1000 Cash $6.429.72
PAID BY: THE MORTGAGE COMPANY
PAYMENT METH: CHECK
93750
AMT TENDERED: $6,429.72
AMT APPLIED: $6,429.72
CHANGE: SO.00
Tract #
Job Number
Other Description:
Date of Payment or Sale
Discount Rate Used:
Date First Prepaid
Assessment is Due
City of Salina
Special Assessment Prepayment Form
2004-1
Lot 4, Block 2 Victoria
Heights Sub -Division
1
0.00001
First prepaid assesment
due Scheduled Principal
12/28/2016 (This is the Date Paid)
12/20/2017
$0.00
$955.58
12/20/2018
$0.00
$989.69
12/20/2019
$0.00
$1,025.03
12/20/2020
$0.00
$0.00
12/20/2021
$0.00
$0.00
12/20/2022
$0.00
$0.00
12/20/2023
$0.00
$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
Future Assessments Due: $3,184.86
int of Prepayment Required: $3,214.86
on Prepayment:
W/E: 12/16/2016
From: http://wwwredera1reser e.goy/re1eases/h1'
Scheduled Principal and Escrow
Interest Interest Adm. Fee
$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
$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
10:57:47
Job: 2004-1423
HOLLY LANE,
PHASE I
(Amortized)
Tract#
Lot
Block
Subdivision
17804
4 2
355
VICTORIA HEIGHTS
LGL: VICTORIA
HEIGHTS SUB -DIV,
S19, T14,
R2,
BLOCK 2, Lot 4
------------------------------------------------------------------------------
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.15 --Selected Interest Rates, Web -Only Daily Update-- December 16, 2016
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H.15 Selected Interest Rates
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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 2 0.41 0.41 0.41 0.41 0.66
Commercial Paper 2 !12 ¢
2016
2016
2016
2016
2016
Instruments
Dec
Dec
Dec
Dec
Det
i -month
9
12
13
14
15
Federal funds (effective) .12 2 0.41 0.41 0.41 0.41 0.66
Commercial Paper 2 !12 ¢
Nonfinancial
i -month
0.54
0.60 I
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
0.52
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 2 2 7
3.50
3.50
3.50
3.50
3.75
Discount window primary credit a 9
1.00
1.00
1.00
1.00
1.25
U.S. govemment securities
Treasury bills (secondary market) 24
4 -week
0.39
0.40 I
0.46
0.48
0.47
3 -month
0.53
0.51 I
0.54
0.54
0.50
6 -month
0.63
0.63 I
0.65
0.65
0.64
1 -year
0.83 (
0.83 I
0.86
0.89
0.88
Treasury constant maturities
Nominal 2
I
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
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 I
2.86 I
2.85 1
2.86
2.89
https:/hN,%iw.federalreserve.go%,/releases/h 15/ 12/19/2016