518 E BEECH ST 2025-06-09 - Laserfiche WebLink

SITE IMPROVEMENTS FOR 2-LOT SP Name of Project 518 E BEECH ST Construction Site Address: PW2112-036 Permit Reference: ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT For: (describe improvements) CURB, GUTTER, SIDEWALK, DRIVEWAY APRON ALONG WITH WATER UTILITY IMPROVEMENTS Improvements to be installed per City standards by MARCH 2ND 2023 We hereby agree that the sum of Sixty One Thousand Nine Hundred Fifty Dollars and Zero Cents Dollars •S a I/iny S ($ 61,950.00 ) will be held ill Account No. 5;O 20 a.i)h,or ea-lLk_ (hereinafter referred to as "Bank") whose address is r2r�< �i K 0-�'&zw 141A �3�.j � 2r � �in the name of 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 Ban1c 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 Sixty One Thousand Nine Hundred Fifty Dollars and Zero Cents ($ 61,950.00 Dollars .Assignment of Funds, Page 1 of 3