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e <br /> 4 <br /> .� �• ' „ „-� <br /> Name of ProJect: • • <br /> Mctauley Construction. Inc. <br /> � �' Construction Sitc Address: � <br /> 1505 Casino Rd. � <br /> q � Evereu , WA 96204 <br /> ��� Permit Re(erence; <br /> c� <br /> x <br /> � �n� ASSIGNMENT OF FUNDS TO THE CITY OF EYERETT <br /> � � <br /> p� For: (describe impravements) <br /> � �g Permits , <br /> Q�-Ir n <br /> ZN� <br /> y y — <br /> t" <br /> H <br /> �N <br /> �� Improvements to be installed per City stanAards by Auaust 7, 19 8�. <br /> � o y We liereby agree tiiat the sum of ,+eeaFIFTEEN THOUSAND DOL:ARS AND 00/100�++�** <br /> Dollars (E 15.000.do 1 will be held in Escrow Account <br /> ��o• 1-32000-17315-8 i� Everett Mutual Savings Bank (hereinafter <br /> referred to as "Dank") whose address i, �502 lJall screec <br /> Everet[ WA 98201 � �� thC name Of �prry� M_ �nd Fll�nhrth L MrCnula^ <br /> to assure performance of the above-described improvements and guarantee that <br /> tliese funds will not be reteased without prior written appruval From the <br /> ��'` City of Everett Public Works Department (hereinafter referred to as <br /> J1 ; "C1ty"). We agree that upon completion or the installatton of the <br /> ! C� above-described improvements per City standards and approval by the City, <br /> � the C1ty wili provide written notice to the Oank authorizing the release of <br /> i <br /> II_� these funds. 41e further agree tfiat these funds will be released to tlie City <br /> ` <br /> upon notice by tiie City that the improvements have not been installed per <br /> ,_1�.1 City standards. <br /> L <br /> Provided furtlier, howe�er, that in tlie event tlie above-descr!bed <br /> � 1_1�' improvements are installed per City stendards and a certificate of partial <br /> s�� <br /> conipliance is signed by the City, then in that event, we are further <br /> i <br /> � instructed to release progress payments for the amount af improvements <br /> �� <br /> installed per City standards and approved by the City. The City shnll have <br /> first claim and priority to the remaining balance of said sum <br /> of Fifteen thousand dollars and 00/100 Uollars (b 15.000.00 �• <br /> 5/8� <br />