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, ', . �;' . �. <br /> ' Name of Pro�ect: <br /> . Casbah Restaurant and Lounee <br /> Construction Site Address: <br /> �a��--�2-2�verett Ave, Everett WA 98201 <br /> Permit Reference: <br /> ASSIGM�Nf OF fl1NDS 'PD 'INS CITY OF EVFREIT <br /> For: (describe improvements) ��,�� <br /> Sidewald improvement, by northeast side building,��verett Ave, Everett WA, <br /> known as Casbah Restaurant and Lounge <br /> Improvements to be installed per City standards by sept. 21 19 87 . <br /> We liereby agree that tlie s�nn of $ 7,000.00 will be held in:�'sCu�aaC Ceztificaee <br /> �E Depoeitp�couttt No. 5710000041 1n Paaet Sound National Bank __ �heieinBEtei <br /> reEerred to as "Bank") in Che name of S.M.B. inc. (hereinafter <br /> reEerred to as "Applicant") to assure performance oF tl�e abovesdescribed <br /> improvements and guarantee that these funds will not be released without <br /> prior written approval from the City of Everett Public Works Department <br /> (hereinaEter referred to as "City"). We agree that up�n completion of the <br /> installation of the i�provements per City standards and approval by the <br /> City, the City will provide written .notice to the Bank authorizing ttie <br /> release oE thesa funds. We furthcr agree that these f�mds will be released <br /> to the City upon notice by tlie City that the improvements have not been <br /> installed per City standards. <br /> Provided Eurther, however, that in the event the above-described <br /> improvements are installed per City standards and a certificate oE partial <br /> compliance is signed by the City, then in that event, we are Eurtlier <br /> instructed to release progress payments for that amoimt oF improvements <br /> installed per City standards and approved by the City. The City shall liave <br /> first claim and priority to the remaining balance of said s�an of <br /> $ �.000.00 <br /> Puget Sound National Bnnk <br /> Name o Ban <br /> By; „1/ _ <br /> AddieSs: 1519 NE 177th P. 0. Box 55368, Seattle WA 98155 <br /> Title: Vice President and P1snaRer <br /> Telephona no. : 447-2940 _ <br /> CoRteCt Peisott: James E. Clarke <br /> Page 1 of 2 <br />