1114 E CASINO RD 2016-01-01 MF Import

, , n n � �� Name of Project: Single iamily DvellinA Construction Sitc• Address: 1114 E. Caeino Rd. Permit Reference: ASSIGM1FNf OF F11ND6 'PO 'If� CITY OF �IT For: (describe improvements) Inetallation of --�-••-' - '^' °ron P Improvements to be inst�lled per City standards by FeD. 1S 19�g_• We hereby agree that thz sun of s 1.200.00 will be held in Escror+ Accouni Pb.3214 68067G in Froncier Sank (hereinaftei reEerred to as "Bank") in the name of James DeGroo[ eui-l-�din�_ (hereinafter referred to as "Applicent") to assure performence of tFi�e`above-described i�rovements and guarantee that th�se fimds will not be released withaut prior written approval Eram the Ci�y of Everett Public Works Department (hereinaEt�r referred to as "City"). N'� agree that upon completion of the instelletion of the improvements per Ci;y standards and approval by the City, the Clty will provide written notice to the Bank authorizing the release of these f�mds. We further agree that these f�mds will be released to the City upon notice by the City that the improvements have not been installed per Clty standards. Provided further, however, that in the event the above-described � �mprovements are installed per City standards and a certificate of pertial compliance is signed by the City, then in that event, rre ars further instructed to release progress payments for that amoimt oE improvements installed per City standards and approved by the City. 'Ihe City shall have flrst claim and priority to the remaining balance of sai9 sun of a �,zoo.00 Frontier Bank , � ame o�anTc� gy; /��•--- Bett Mercier, New Accounts Officer Address: p•o. Box 2215 Everett, iJA 98203 Title: New Accounta Offlcer Trlephone no.: 347-e6no Contact Person: /�l>>cz� Q,L�iGi.d.�✓C /.'� c�,� /�/7��y Page 1 of 2