8300 BEVERLY BLVD 2016-01-01 MF Import

..:• .. Name of Projr.ct: Additions and Alterations for the BreCyn Salon Construction Site Address: 8304 IIeverlv Blvd. Everett, IVA Permit Reference: 89/21983 ASSIGNMENT OF FUNDS TO TIIE CITY OF EVERETT For: (describe improvements) Sidewalk improvements: New sidewalk, p�just erist. traffic signal boz to arade, re7ocate liQht vole adiust exist. water meters to vrade � — lmprovements co be installed per City standards by DECEMaER 1 19 89• We liereby agree that tlie sum of Two tliousand two hundred Dollars (E 2,200:00 • 1 will be held in Escrow Account Ho. 3101800419 1n FRONTIER 9ANK ihereinafter referred to as "8ank") whose address is 2G12 WETMORE EVERETT. WA. 98201 , in the name of Cynthia hicCandlis , to assure performance of tlie above-described improvements and guarantee that these funds will not be released without prior written epproval 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 Dank authorizing the release of th^se funds. We further agree that these funds will be released ta the City upon notice by the City that the improvements have not been installed per City standards. Provided ;urther, liowever, that in the event tlie 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 standards and approved by tlie City. lhe City shall have first claim and priority to the remaining balance of said sum of TWO TNOUSAND TWO tIUNDRED Uollars (E 2 200.00 �• 5/8e G��c � �}JIA'-� i�.-LL� �\((_'i J - I T� ,, _ % � �J