Escrow Agreement (2) ESCROW AGREEMENT
THIS AGREEMENT is made thisL 5 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 Four
Thousand One Hundred and Seven and 30/100 Dollars ($4,107.30), 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 S day of June, 2018.
i
"' . ......--ra..- -
mothy L. uiter
"Property Owner"
Rachael Suiter
"Property Owner"
CITY OF SALINA, KANSAS
Debbie Pack
"Escrow Agent"
STATE OF PhnoesoAa , \A\n&ocatovl COUNTY, ss:
The above and foregoing instrument acknowledged before me this �, day of June, 2018, by
Timothy L. Suiter, the Property Owner.
',;e TYLER D.SCHOPF .
¢ :1;.-,-6.-3,... NOTARY PUBUC.MINNESO A ` m ` .•
iaMyComnissbnExpires Jan.31.2021 Notary Public X
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 S day of June, 2018, by
Debbie Pack, Finance Director of the City of Salina, Kansas, on behalf of the City of Salina, Kansas.
264
lA.
atj ALLISON STRAIT 1 tan• Public
Notary Public- State of Kansas
My Appt. Expires ikaa
5. Bindinu 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 l day ofJune. 2018.
Timot ' L. Suiter
"Pr v Ow e
ael Suite
"Property ON '
CITY OF SSALINA, KANSAS
Debbie Pack
"Escrow Auent"
STATE OF COUNTY. ss:
The above and foregoing instrument acknowledged before me this day ofJune, 2018, by
Timothy L. Suiter. the Property Owner.
Notary Public
STATE OF ISpv"54-5 ,"‘ThNSciNA COUNTY. ss: U µ
The above and foregoing instrument acknowledged be ore met is CS'day ofJune, 2018, by
Rachael Suiter. the Property Owner.
MAXWELL MAIER
Notary Public-State of Kansas an P cMaxl ctl Yvlaeo .
My Appt. Expires'3/"7/2t
4.
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.
sta
ALLISON STRAIT otaryl Public
Notary Public- State cf Kansas
IB-25- zo
My Appt. Expires_ ------
SA5052 Special Assessments - Tract Assessments 6/05/18
15 : 12 : 15
Job: 2003-1405 RIVERRUN ADDITION
(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
2005 1, 207 . 53 836 . 12 . 00 2 , 043 . 65
2006 1, 250 . 64 793 . 01 . 00 2, 043 . 65
2007 1, 295 . 28 748 . 37 . 00 2, 043 . 65
2008 1, 341 . 52 702 . 13 . 00 2, 043 . 65
2009 1, 389 . 42 654 . 23 . 00 2, 043 . 65
2010 1, 439 . 02 604 . 63 . 00 2 , 043 . 65
2011 1, 490 . 39 553 . 26 . 00 2 , 043 . 65
2012 1, 543 . 60 500 . 05 . 00 2 , 043 . 65
2013 1, 598 . 71 444 . 94 . 00 2 , 043 . 65
2014 1, 655 . 78 387 . 87 . 00 2 , 043 . 65
2015 1, 714 . 89 328 . 76 . 00 2 , 043 . 65
2016 1, 776 . 11 267 . 54 . 00 2, 043 . 65
2017 1, 839 . 52 204 . 13 . 00 2, 043 . 65
2018 1, 905 . 19 138 . 46 . 00 2, 043 . 65
2019 1, 973 . 21 70 . 44 . 00 2, 043 . 65
•
City of Salina
Special Assessment Prepayment Form
Summary of Findings:
Tract#
Job Number -`33:.2003=1405 Total Future Assessments Due: $4,087.30
Other Description: Lot ByBlock Ri errun' Amount of Prepayment Required: $4,107.30
Addition'`' 4 = •
•
`_ • -. `=':„:1f: ,7. Savings on Prepayment: ($20.00)
3 'Y
Date of Payment or Sale F ` 8
y 06/07/18 W/E: 6/4/2018
Discount Rate Used: w 0:00001./0, From: http://www.federalreserve.00y/releases/h15
Date First15
3; c
D • " ' c
Assessment is Due - : :.5.12/20/2018
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
12/20/2018 ). $1 905.Q9.' $138.46 ' ,52.043.. 5. $10.00 $2,053.65
12/20/2019 ='$1 973.21 ' $70.44 +$2 043:65': $10.00 $2,053.65
12/20/2020 3 $0.00 $0100 $0.00 30.00
12/20/2021 � ty. $0°00' $0.00 { .$0.00 $0.00 $0.00
12/20/2022 -1•-,t • $0:00 • $0.00 ' r -$a00 $0.00 $0.00
12/20/2023 - $O 00 $0.00 $0$00' $0.00 $0.00
12/20/2024 . •".,$0.00 ' $0.00 $000 ^ $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 •
12/20/20281 s;_ _50:00 $0.00 : • .•:.-S03:0 $0-00 $0.00
12/20/2029 $0:00;1 $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
12/20/2032 - 1$0 00. $0.00 -$0'00 ' $0.00 $0.00
Totals • $3,878.40 $208.90 $4,087.30 $20.00 $4,107.30
•
CUSTOMER COPY Miscellaneous Receipt
C'tyOf City of Salina Receipt 18339
PO Box 736 Number
Salina, KS 67402-0736
(785) 309-5735 Fax: (785) 309-5738 Receipt Date
Salina: 06/08/18
Received from:
MID-KANSAS TITLE CO.
TIME: 16:33
CLERK:StraitA
Charge Code Org - Object - Proj Comment Description - Amount
TRACT 29933 $4,107.30
70001 4778 Prepaid Sp.Assessments $4,107.30
000 1000 Cash $4,107.30
PAID BY: MID-KANSAS TITLE CO.
PAYMENT METH: CHECK
5224
AMT TENDERED: 54,107.30
AMT APPLIED: 54,107.30
CHANGE: 50.00