1321 COLBY AVE NORTH PARKING LOT 2016-01-01 MF Import

. , � ' ` Name of Project: 12th Street Imnrovements Constructior. Site Address: AoproximatelY 1700-1720 12th Stree Permit Reference: AiSI(�ff OF FVNDS 1D Tl� CITY OF hYFREI'f For: (describe improvements) Street imorovementa in 1700 block of 12th Street. Everett. (in r_o �ncti�o ��it � o �y�� P �kina Lot) consis�ng o nE—ew3uide�a , cur s, gu�.e s,�an�drain to� vnhirlv furn-arnunA Improvements to be installed per City standards by ,7uly 31, 19 88 . Ne hereby agree that the sian of � 12,575.00 Nill be held in Escrow Accoant No. 302 320 764 in p;rst Tnterstate Bank (hereinafter referred to 4s "Bank") in the name of General Hospital (hereinaEter e i a en e reEerred to as "Applicant") to assure per�Eotmance o� tlie above-described i�rovements and guarantee that these funds will not be released Nithout prior rrritten approval fran the City of' Everett Public Works Department (hereinafter referred te as "City"). We agree that upo�.� i.,mpletion of tlie instellation of the improvements per City standards and approval by tl�e "City, the Ctty aill provide written notice to the IIank authorizing the release of tliese funds. We further agrec that these fmids ::iii be released to the City upon notice by the City , that tlie improvemients have: not been instelled per City standards. , Provided further, however, th�t in the event the above-described inQrovements are installed per City standards and a certificate of partial compliance is signed by the City, then in that event, we are furNier instructed to release progress payments for that amo�nt of improvenents instalied per City standards and approved by the City. 71�e City shall liave first claim and priority to the remaining balance of said sian of a ,�,s�s_oo Name o Han c ay: Su r,indy lby Address: 2817 Co1bv Av . � �, 4'A 9°20� T1L1C: �}�. Canri � T"an,gpPr Telephone no. : 258-383'3 Contact Person: Cindv 5elbv Page 1 of 2 3/86 ... . . ..,....:.. , .. ._.,�.. . i. ,, . .., nr,,� ... ... .�� , . . _��.. . . , .