HomeMy Public PortalAbout1992.06.30 McCall Donnelly School District Railroad Right of Way Escrow Paid in full3
ESCROW AGREEMENT
This Agreement is made June 3a, 1992, by and between
the City of McCall (City), an Idaho municipal corporation,
and the McCall -Donnelly Joint School District No. 421
(District), for and in consideration of the mutual promises
herein contained.
Recitals
1 District conveyed to City the property described on
Exhibit A.
2. If City wishes to keep the property, certain funds
need to be paid to the District. However, the City cannot
make a specific promise to pay.
Agreements
3. City is escrowing a quitclaim deed back to
District, affecting the property described on Exhibit A.
4. Such quitclaim deed shall be escrowed with an
escrow agent acceptable to both parties.
5. Such quitclaim deed shall be delivered to District
by the escrow agent, after notice to City and a 30-day
period for cure, unless City makes the following payments to
the title company on or before the following dates:
$3, 000
$3, 000
$3,000
$3, 000
$3, 000
$3, 000
$3, 000
$3, 302
on
on
on
on
on
on
on
on
or
or
or
or
or
or
or
or
before
before
before
before
before
before
before
before
July
July
July
July
July
July
July
July
1,
1,
1,
1,
1,
1,
1,
1,
1993.
1994.
1995.
1996.
1997.
1998.
1999.
2000.
If City makes all such payments, the quitclaim deed shall be
returned to the City.
6. Such payments shall in the event of prepayment be
considered to include -interest at 4.5% per annum.
McCall -Donnelly Joint
School District No. 421
by:
Attest:
9')/1 vd-e4;p".401d
City of McCall
RECEIVED
JUL 2 91999
I
w
EXHIBIT A.
Parcel 12:
McCALL-DONNELLY SCHOOL DISTRICT PARCEL
A parcel of land being the northwesterly 1/2 of the former
railroad right-of-way situated in the SW 1/4 of the SW 1/4 of
Section 9, T.18N., R.3E., Boise Meridian, City of McCall, Valley
County, Idaho, lying 50 feet northwesterly of the following
described centerline of said right-of-way:
Commencing at a 30 lb. rail marking the northeast
corner of Lot 11, Block 3, Original Townsite of McCall,
as shown on the official plat thereof on file in the
Office of the Recorder of said Valley County in Book 1
of Plats at Page 38; --thence,- S. 11°50' 00"W. -182. 05—feet
along the extended east boundary of said Lot .11 to the
southerly right-of-way of Park Street; thence, S.
78°18'18HW. 111.33 feet along said southerly
right-of-way.to the centerline of the former railroad
right-of-way; thence, 825.28 feet along a non -tangent
curve to the right having radius 2,864.93 feet, delta
angle 16°30'17", and long chord bearing S.42°34'52"W.
822.43 feet along said centerline; thence,
S.49°50'009W. 153.65 feet along said centerline to the
intersection of said centerline with the easterly
boundary of said SW 1/4 SW 1/4, the REAL POINT OF
BEGINNING:
Thence, continuing along said centerline the
following courses and distances:
S.49°50100"W. 190.77 feet,
Thence, 231.00 feet along a seven -chord
transition spiral curve to the left having a
spiral delta of 4°40' and long chord bearing
S.48°30'll"W. 230.52 feet,
Thence, 642.90 feet along a curve to the left
having radius 1,432.69 feet, delta angle
25°42'39H, and lona chord bearina
S.32°21'2994. 637.52 feet to the southerly
boundary of said Section 9, the Point of
Ending, containing 1.272 acres, more or less.
Subject to all public road rights -of -way, utility,
and irrigation easements.
Bearings based on State Plane Grid Azimuth.
Investors Escrow Lc
July 22, 1999
City of McCall
PO Box 1065
McCall, ID 83638
RE: Contract Escrow No. 001-00861
McCall -Donnelly School Distrust
Dear Sir or Madam:
RECEIVED
J U L 2 91999
210 West Mallard Drive, Suite B, Boise, Idaho
P. O. Box 8507, Boise, Idaho 83707-2507
Voice: (208) 333-8675, Fax: (208) 338-0800
Toll Free: 1-888-372-7698
J
We received the final payment on the above referenced escrow, which paid this escrow in full.
Please find enclosed the following documents:
➢ Copy of Escrow Agreement marked "PAID"
DO NOT LOSE OR MISPLACE THE ENCLOSED DOCUMENT
Should you have any questions or need any additional information, please do not hesitate to contact
our office.
Sincerely,
deap
Cindi Wall
Escrow Officer
Enclosures
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INVESTORS ESCROW LC
P.O. BOX 8507
BOISE,ID 83707-2507
(208) 333-8675
DATE
07/15/1999
CITY OF MCCALL/M-D SCHOOL DIST 001-00861
Reference names Contract number
CONTRACT RECEIPT - Payoff
PRINCIPAL ACCRUED INTEREST
Beginning balance 1,742.87 0.00
Ending balance 0.00 0.00
Interest accrued from 07/07/1998 through 07/15/1999
CITY OF MC CALL
P.O. LOX 1065
McCall ID 83638
Automatic Payment/Deposit Now Available
Amount received
Less payer fees
Less other
Net to contract
Principal
Interest
CURRENT MONTH
1,912.92
43.00
46.90
1,823.02
1,742.87
80.15
YTD
1,912.92
43.00
46.90
1,823.02
1,742.87
80.15