1023 100TH ST SW 2022-05-12 - Laserfiche WebLink

r" D EAGYE ,_ D • MAR 18 2021 Site Work for 5-Lot SP #01P/A4/4"/ CITY QF EVERET7` Name of Project Permit Services 1023 100th ST SW 1240 Construction Site Address: PW2006-015 Permit Reference: ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT For: (describe improvements) FRONTAGE IMPROVEMENTS (CURB,GUTTER AND SIDEWALK) AND PUBLIC UTILITY WORK WITHIN THE RIGHT-OF-WAY. Improvements to be installed per City standards by We hereby agree that the sum of ELEVEN-THOUSAND, TWO-HUNDRDED EIGHTY DOLLARS AND 00/100 Dollars ($ 11, 280 . 00 ) will be held in Escrow Account No. in C_.--b (hereinafter referred to as "Bank") whose address is el) CytA-i"_ , LLD in the name of C--oi,c A z eic o to assure performance of the above-described improvements and guarantee that these funds will not be released without prior written approval from the City of Everett Public Works Department(hereinafter referred to as "City"). We agree that upon completion of the installation of the above-described improvements per City standards and approval by the City,the City will provide written notice to the Bank authorizing the release of these funds. We further agree that these funds will be released to the City upon notice by the City that the improvements have not been installed per City standards. Provided further, however, that in the event the above-described improvements are installed per City standards and a certificate of partial compliance is signed by the City,then in that event,we are further instructed to release progress payments for the amount of improvements installed per City standard and approved by the City. The City shall have first claim and priority to the remaining balance of said sum of ELEVEN-THOUSAND, TWO-HUNDRDED EIGHTY DOLLARS AND 00/100 Dollars ($ 11, 280 . 00 ). Assignment of Funds,Page4-off