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b. <br />��r.1 <br />it 'Owa�t�s o <br />top <br />Name of Project <br />9418 IP /:ate fJ -6 -. A UA 9e!:�.3 <br />Construction Site Address: <br />PINoBoI -008 <br />Permit Reference: <br />ASSIGN,IIXF OF FUNDS TO THE CITY OF EVERETT <br />For: (describe improvements) <br />Pf If KCr 4✓C- <br />Improvements to be installed per City standards by Tcw- /S1" , ,?009 <br />/ut• n <br />We hereby agree that the sum of � l0 / F00 • e � ` 14-14"�`9'`a �Do�lllars <br />($ / 0 1 80e .�) will beheld in Escrow Account No. // 3003 (U in <br />CbL lj z\h Pe,4 \c (,a,.n,(ti. (hereinafter referred to as "Bank") whose address is <br />3-13,;1- ReoctCtAL:-c.i 9\je+'L ,LJ 1 C> in the name of <br />LC L to assure performance of the <br />above -described improvements and guarantee that these funds will not be released without prior <br />written approval from the City of Everett Public Works Department (barcinaRcr referred to as <br />"City"). We agree that upon completion of the installation of the above -described improvements <br />per City standards and approval by the City, the City will provide written notice to the Bank <br />authorizing the release of these funds. We further agree that these funds will be released to the <br />City upon notice by the City that the improvements have not been installed per City standards. <br />Provided further, however, that in the event the above -described improvements are installed per <br />City standards and a certificate of partial compliance is singed by the City, then in that event, we <br />are further instructed to release progress payments for the amount of improvements installed per <br />City standard and approved by the City. The City shall have first claim and priority tq the <br />remaining balance of said sum of +A1 Doll rs <br />($ /DI 2bo. -- ). <br />Assignment of Funds, Page 1 of 3 <br />