HomeMy Public PortalAbout1999.07.15 Escrow Agreement Paid in FullESCROW AGREEMENT
This Agreement is made June 38, 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 or before July 1, 1993.
on or before July 1, 1994.
on or before July 1, 1995.
on or before July 1, 1996.
on or before July 1, 1997.
on or before July 1, 1998.
on or before July 1, 1999.
on or before July 1, 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:
9nt 1IJ.
City of McCall
. Schmidt,
erk
RECEIVED
JUL 291999
"
E X H I B I T A
P a r c e l 1 2 :
M c C A L L - D O N N E L L Y S C H O O L D I S T R I C T P A R C E L
A p a r c e l o f l a n d b e i n g t h e n o r t h w e s t e r l y 1 / 2 o f t h e f o r m e r
r a i l r o a d r i g h t - o f - w a y s i t u a t e d i n t h e S W 1 / 4 o f t h e S W 1 / 4 o f
S e c t i o n 9 , T . 1 8 N . , R . 3 E . , B o i s e M e r i d i a n , C i t y o f M c C a l l , V a l l e y
C o u n t y , I d a h o , l y i n g 5 0 f e e t n o r t h w e s t e r l y o f t h e f o l l o w i n g
d e s c r i b e d c e n t e r l i n e o f s a i d r i g h t - o f - w a y :
C o m m e n c i n g a t a 3 0 l b . r a i l m a r k i n g t h e n o r t h e a s t
c o r n e r o f L o t 1 1 , B l o c k 3 , O r i g i n a l T o w n s i t e o f M c C a l l ,
a s s h o w n o n t h e o f f i c i a l p l a t t h e r e o f o n f i l e i n t h e
O f f i c e o f t h e R e c o r d e r o f s a i d V a l l e y . C o u n t y i n B o o k 1
o f P l a t s . a t . P a g e 3 8 ; t h e n c e , S . 1 1 � 5 0 ' 0 0 " W . 1 8 2 . 0 5 f e e t
a l o n g t h e e x t e n d e d e a s t b o u n d a r y o f s a i d L o t 1 1 t o t h e
s o u t h e r l y r i g h t - o f - w a y o f P a r k S t r e e t ; t h e n c e , S .
7 8 � 1 8 1 1 8 " W . 1 1 1 . 3 3 f e e t a l o n g s a i d s o u t h e r l y
r i g h t - o f - w a y . t o t h e c e n t e r l i n e o f t h e f o r m e r r a i l r o a d
r i g h t - o f - w a y ; t h e n c e , 8 2 5 . 2 8 f e e t a l o n g a n o n - t a n g e n t
c u r v e t o t h e r i g h t h a v i n g r a d i u s 2 , 8 6 4 . 9 3 f e e t , d e l t a
a n g l e 1 6 � 3 0 ' 1 7 " , a n d l o n g c h o r d b e a r i n g S . 4 2 � 3 4 ' 5 2 " W .
8 2 2 . 4 3 f e e t a l o n g s a i d c e n t e r l i n e ; t h e n c e ,
S . 4 9 � 5 0 ' 0 0 " W . 1 5 3 . 6 5 f e e t a l o n g s a i d c e n t e r l i n e t o t h e
i n t e r s e c t i o n o f s a i d c e n t e r l i n e w i t h t h e e a s t e r l y
b o u n d a r y o f s a i d S W 1 / 4 S W 1 / 4 , t h e R E A L P O I N T O F
B E G I N N I N G :
T h e n c e , c o n t i n u i n g a l o n g s a i d c e n t e r l i n e t h e
f o l l o w i n g c o u r s e s a n d d i s t a n c e s :
S . 4 9 � 5 0 ' 0 0 " W . 1 9 0 . 7 7 f e e t ,
T h e n c e , 2 3 1 . 0 0 f e e t a l o n g a s e v e n - c h o r d
t r a n s i t i o n s p i r a l c u r v e t o t h e l e f t h a v i n g a
s p i r a l d e l t a o f 4 � 4 0 ' a n d l o n g c h o r d b e a r i n g
S . 4 8 � 3 0 ' l l " W . 2 3 0 . 5 2 f e e t ,
T h e n c e , 6 4 2 . 9 0 f e e t a l o n g a c u r v e t o t h e l e f t
h a v i n g r a d i u s " 1 , 4 3 2 . 6 9 f e e t , d e l t a a n g l e
2 5 � 4 2 ' 3 9 " , a n d l o n g c h o r d b e a r i n a
S . 3 2 � 2 1 ' 2 9 " W . 6 3 7 . 5 2 f e e t t o t h e s o u t h e r l y
b o u n d a r y o f s a i d S e c t i o n 9 , t h e P o i n t o f
E n d i n g , c o n t a i n i n g 1 . 2 7 2 a c r e s , m o r e o r l e s s .
S u b j e c t t o a l l p u b l i c r o a d r i g h t s - o f - w a y , u t i l i t y ,
a n d i r r i g a t i o n e a s e m e n t s .
B e a r i n g s b a s e d o n S t a t e P l a n e G r i d A z i m u t h .
Investors Escrow Lc
July 22, 1999
City of McCall
PO Box 1065
McCall, ID 83638
RE: Contract Escrow No. 001-00861
McCall -Donnelly School Distruct
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
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,
de„Lp
Cindi Wall
Escrow Officer
Enclosures
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
1,712.92
43.00
46.90
1,823.02
1,742.87
80.15