1614 BROADWAY 2016-01-01 MF Import

' Name of Project: ^ • Dop�h y i7ding ._ . Construction Site AJdress: � 1614 Broadway Petmit Reference: ASSIGt�tENl' OF F11NDS T'0 T}� CITY OF EI�RECI' For: (describe imrrovements) SFF ATTACHMFNT "A" — Improvements. to be installed per City standards by March 31 19�_. We I�ereb a ree that the s�nn of $1, 900. 00 will be held in Escrow �� /oov- Account No. /5335�2 in Everett FeAaral Savinqs �hereinaEter referred to as "Bank") in the name ofp_rr_ ,7r_ ti raqq�r M n�}greinaEter referred to as "Applicant") to assure performance of the above-descriUed improvements and guarantee that these funds aill not be released without prior written approval Erom the City of Everett Public Works Department (hereinafter referred to as "City"). We agree [flat upon completion of the installation of the improvements per City standards and approval by the City, the City will provide written notice to the Bank authorizing the release of tliese funds. We further agree that these f�nids wi.11 be released to the City upon notice by the City that the improvements have not been installed per City standards. Providect further, however, that in the event the above-described improvements are installed per City standards and a certificate of par[ial • compliance is signed by the City, tlien in that event, we are furtiier instructed to release progress payments for that amoim t of improvements installed per City standards and approved by the City. The l.�ty shall have first claim and priority to the remaining balance of s: zd s�nn of � Everett Federal Savin s Name o Uan< Dy: ��.�r.t �'L George Dorr Address: 1502 Wall. Evere+t • wa ge20� Title: _�ice President Telephone no. : 256-364� — Contact Person: Georcre Dorr Page 1 of i _ __ . �._ --- . _� __ _ �. - - - .____ . 3/96 _—