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Escrow Account Agreement Form. This is a Kansas form and can be use in 10th Judicial District (Johnson County) Local District Court.
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Tags: Escrow Account Agreement, Kansas Local District Court, 10th Judicial District (Johnson County)
Johnson County, Kansas ● Department of Records and Tax Administration
John A. Bartolac, Director
ESCROW ACCOUNT AGREEMENT
Name
Phone
“Customer”
Address
Fax
e-mail
@
THIS ESCROW ACCOUNT AGREEMENT is made and entered into this
day of
, 20__, by and between
the Department of Records & Tax Administration, Johnson County, Kansas (“RTA”) and “Customer.” In consideration of the
mutual promises and covenants contained in this Agreement, RTA and Customer agree as follows:
1. RTA shall establish an escrow account in Customer’s name to be used by customer for payment of recording fees,
mortgage registration taxes, copying fees, on-line subscription fees, and other fees and charges assessed by RTA
(collectively “Fees”). From time to time, Customer shall deposit funds in the escrow account, which deposits shall be made
by ACH payment or check or money order payable to RTA.
2. RTA shall debit funds in the escrow account and apply such amounts to the payment of Fees. RTA shall make such
debits and payments as directed by Customer, its employees, and authorized agents. If Customer wishes to restrict the
persons authorized to provide such direction on its behalf, then Customer shall provide to RTA a list of names of persons
authorized to approve payments from the escrow account. By leaving documents to be recorded with RTA, Customer shall
be deemed to have given direction to debit its escrow account for payment of Fees.
3. Customer is responsible for maintaining an adequate balance in the escrow account. Negative balances or charges
against insufficient funds are prohibited. Documents presented for recording will not be recorded if the escrow account
contains insufficient funds to pay the Fees unless such documents are accompanied by payment of the Fees. If ACH
payments are used, Customer is responsible for timely funding its account through the ACH process. RTA is not responsible
for delays due to ACH processing. If ACH payments are used, Customer acknowledges and agrees to pay the then current
per transaction ACH fee set by RTA. ACH fees are posted on RTA’s website and are subject to change. If Customer desires
to electronically record documents with RTA, Customer must execute a separate Electronic/Digital Recording
Memorandum of Understanding.
4. Customer, upon written request, may withdraw funds previously deposited in the escrow account. Such requests shall
be processed according to the regular payment procedures of RTA’s office.
5. No interest shall be paid to Customer on funds deposited in the escrow account. Any interest accrued on deposits shall
be retained by RTA.
6. Either party may terminate this Agreement by giving thirty (30) days written notice to the other party. Upon submission
of such notice, this Agreement shall terminate at the conclusion of the thirty-day notice period and RTA shall refund to
Customer any balance remaining in the escrow account at such conclusion.
7. (a) This Agreement contains the entire understanding between the parties and supersedes all prior agreements or
understandings between the parties with respect to the subject matter hereof; (b) Any modification or waiver of any
provision in this Agreement shall not be effective unless made in writing; (c) This Agreement shall be governed by and
construed in accordance with the laws of the State of Kansas; and (d) Customer shall not assign, transfer, or otherwise
dispose of this Agreement or any of the rights and obligations hereunder without the prior written consent of RTA.
DEPARTMENT OF RECORDS & TAX
ADMNISTRATION
CUSTOMER
By:
By:
Printed Name
Director of RTA
Title
Please enter the information requested on this form, sign and return it -- along with your check or money order to open your
escrow account -- to:
Register of Deeds of Johnson County, Kansas
111 S. Cherry Street, Suite 1200
Olathe, KS 66061-3469
111 South Cherry Street, PO Box 700 ● Olathe, Kansas 66051-0700 ● (913) 715-0775 FAX ● (913) 715-0800
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