Escrow Agreement (1) ESCROW AGREEMENT
THIS AGREEMENT is made this (Q day of June, 2018, by and between Timothy L.
and Rachael Suiter. (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 8, Block 4 of Riverrun 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 Seven
Hundred and Eighty Nine and 54/100 Dollars ($789.54), 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 ah day of June, 2018.
a. —2-4L------
othy L. Suiter
"Property Owner"
Rachael Suiter
"Property Owner"
CITY OF SALINA, KANSAS
Debbie Pack
"Escrow Agent"
STATE OF M',r,nr_So-y , GS1;v4hy‘ _COUNTY. ss:
The above and foregoing instrument acknowledged before me this Cr day of June, 2018. by
Timothy L. Suiter, the Property Owner.
111 TYLER D.SCHOPF
6 �` - —>—,lor -D ��
41:�p''I_r;, ,.,• /My Commission!� NOTARY PUBLIGMINNESOTA Expires Jen.31.2021 Notary Public
mit 1-'
STATE OF COUNTY, ss:
The above and foregoing instrument acknowledged before me this_day of June, 2018, by
Rachael Suiter. the Property Owner.
Notary Public
STATE OF KANSAS, SALINE COUNTY. ss:
The above and foregoing instrument acknowledged before me this 8 day ofJune, 2018, by
Debbie Pack, Finance Director of the City of Salina. Kansas, on behalf of the City of Salina. Kansas.
tai U
ALLISON STRAIT
NotaryPublic - State ci Kansas
My Appt. Expires IU 25-20
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 `��day of June, 2018.
Timothy L. Suiter
"Prow Owner"
'achael U
"Property Owner"
CITY OF SALINA, KANSAS
Debbie Pack
"Escrow Agent"
STATE OF COUNTY, ss:
The above and foregoing instrument acknowledged before me this day of June, 2018, by
Timothy L. Suiter. the Property Owner.
Notary Public
STATE OF Kcansa4je�n�n COUNTY. ss: N M
k
The above and foregoing instrument acknowledged bet-. vine this 6 day of June, 2018, by
Rachael Suiter, the Property Owner.
MAXWELL MAIER
Notary Public-State of Kansas o.,r�ubhc/
MyAppt. Expires 3! / zo tt K,,,_.tl y✓lA
ter
STATE OF KANSAS, SALINE COUNTY, ss:
The above and foregoing instrument acknowledged before me this 0 day of June, 2018. b_y
Debbie Pack, Finance Director of the City of Salina. Kansas, on behalf of the City of Salina, Kansas.
i' tary
ir
ALLISON STRAIT
ELI Notary Public - State cf Kansas
My Appt. Expires 10-25-an
SA5052 Special Assessments - Tract Assessments 6/05/18
15 : 12 : 19
Job: 2003-1424 SOUTH MARYMOUNT ROAD IMPROVEMENTS (PHASE II)
(Amortized)
Tract# Lot Block Subdivision
29933 8 4 821 RIVERRUN ADD
LGL: RIVERRUN ADD, S30, T14 , R2 , BLOCK 4 , Lot 8
Year Principal Interest Payments Assessment
2006 132 . 66 120 . 52 . 00 253 . 18
2007 138 . 50 114 . 68 . 00 253 . 18
2008 144 . 60 108 . 58 . 00 253 . 18
2009 150 . 97 102 . 21 . 00 253 . 18
2010 157 . 62 95 . 56 . 00 253 . 18
2011 164 . 56 88 . 62 . 00 253 . 18
2012 171 . 80 81 . 38 . 00 253 . 18
2013 179 . 36 73 . 82 . 00 253 . 18
2014 187 . 26 65 . 92 . 00 253 . 18
2015 195 . 51 57 . 67 . 00 253 . 18
2016 204 . 11 49 . 07 . 00 253 . 18
2017 213 . 10 40 . 08 . 00 253 . 18
2018 222 . 48 30 . 70 . 00 253 . 18
2019 232 . 28 20 . 90 . 00 253 . 18
2020 242 . 51 10 . 67 . 00 253 . 18
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
' Tract# 29933-2
Job Number n. ..:=r; 2003-1424 Total Future Assessments Due: $759.54
Other Description: Lot B`Block,'4`:RiveYrun Amount of Prepayment Required: $789.54
/,; 4 ` r`ty4;, Savings on Prepayment: ($30.00)
4`t- ti �> 06/07 18'. W/E:
Date of Payment or Sale I<,��, , „-,�
Discount Rate Used. r--.:4"-a--2:7-! 0:1-1080;.1-g.Y"_ From: httpa/w�wv.federalreserve.00v/releases/h15 •
Date First Prepaid . --`` "r
Assessment is Due s . -,12/20/2018`
Total Due
First prepaid assesment Scheduled Principal Escrow From
due Scheduled Principal Interest and Interest Adm. Fee Escrow
6/7/2018 (This is the Date Paid) 0
12120/2018- ?•',$22246, $30.70 $253:18 $10.00 $263.18
12/20/2019' w: s- $232 28' $20.90 $253'-18; $10.00 $263.18
12/20/2020 =x. 5242'51 ` $10.67 $253',181 510.00 $263.18
12/20/2021 _ _` - ."50;00` $0.00 " .-_`:$0'00;' $0.00 • '$0.00
12/20/2022 ? 2!O 00=; $0.00 r $Oi00 $0.00 $0.00
12/20/2023 '•.t * =' C$0 00'. $0.00 • • tsp.00, $0.00 $0.00
12/20/2024 $0 00:= $0.00 '':$0,00. $0.00 $0.00
12/20/2025:..,' . s .ii' $000' $0.00 $0:00': $0.00 $0.00
•12/20/2026 : t_ -r.$0:00ii $0.00 T'- isapO:. $0.00 so.00
12/20/2027 '. $000' $0.00 r--$0i00e $0.00 $0.00
12/20/2028 - . 'a $0.00' $0.00 4$0:00;. $0.00 $0.00
12/20/2029 �`'•"$0:00` so.00 50.00 so.00 $0.00
12/20/2030 ---3'"-:$0.00- $0.00 = :50.00' $0.00 $0.00
12/20/2031 ° . __%- 50.00- $0.00 $0.00 $0.00 $0.00
12/20/2032 ':`;. , 50.00 $0.00 - $0:00 $0.00 $0.00
Totals $6?7.27 $62.27 $759.54 $30.00 $789.54
CUSTOMER COPY Miscellaneous Receipt
Cityof City of Salina Receipt 18340
PO Box 736 Number
�..- Salina, KS 67402-0736
�► +� (785) 309-5735 Fax: (785) 309-5738 -
Jo��na Receipt Date. '-
06/08/18
Received from:
MID-KANSAS TITLE CO.
TIME:16:34
CLERK:StraitA
Charge Code -Org.- Object-- Proj Comment' . •' - . Description" - . Amount '
TRACT 29933 $789.54
70001 4778 Prepaid Sp.Assessments 5789.54
000 1000 Cash $789.54
PAID BY: MID-KANSAS TITLE CO.
PAYMENT METH: CHECK
5223
AMT TENDERED: $789.54
AMT APPLIED: $789.54
CHANGE: $0.00