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,��(e�/��"� �bWth�(�l���hl ���c�je� ��lit�� �ufi�� <br />Name of Project <br />� Q U `� �Jl��aa�Gv��/ /�� �l�G� f <br />Construction Site Address: <br />�U� I�o� -a13 <br />Perinit Reference: <br />ASSIGNMENT' OF' rUNDS TO THE CITY OF EVERETT <br />For: (describe improvements) <br />��� <br />Improvements to be installed per City standards by �J1J1!�„�'j _� , 1 <br />We hereby agree that the sum of <br />($ �� ) will be held in Escrow Account No. <br />- - � � <br />� � �`�`II '�i7 <br />Dollars <br />m <br />�hereinafter referred to as "Bank") whose address is <br />d7� �'l �� �S �, C.�� ������ in the name of <br />,�D� ��cc� 1��� 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 (hereinafter 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 fiu-ther, 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 ainount of improvements installed per <br />City standard and approved by the City. The City shall have first claiin and priority to the <br />remaining balance of said suin of /l� /-� <br />($ � )� <br />Dollars <br />Assigm�ieiit of Funds, Page 1 of 3 <br />