4020 COLBY AVE 2018-01-02 MF Import

4c�o Cnlby �lv � , Name of Project: � The Everett Clinic Annex . Constructton S1te Address: � 4005 Hovt Everett. WA � Pe��i4tj Referente: . � � ASSIGNMENT OF FUN�S TO TIIE CITY OF EYERETT � � . For: (describe improvements) � Install sidewalk and curb along Hoyt Ave between 40th & 41st Sts and alcng 40th St 6etween Noyt Ave and Colby Rve lmproveinents to be instaited per City standards ry 19_ . We hereby agree tliat the sum of Eight thousand four hundred . Dollars (E 8,400.00 . � will be held in EscroN Account , No. in (herelnafter � referred to as "Bank") whosc address is 14807 Hwy 99 Lynnwood, lJA 98037 , in the name of The Everett Clinic Annex . to assure performance of the a6ove-described improvements and guarantee that � � � these funds will not be released without prior written approval from the � � - � City of Everett Pub11c Norks Oepartment (hereinafter referred to as "City"). Ne agree that upon completion of Lhe installation of the . . � , above-described improvements per City standards and approval by the Cfty, � ' , . � the City wili provide written notice to the Oank authoriztng the release of -� . . ' these funds. We further agree Yhat these funds will be released ta the City � - � . . upon notice by the City that the lmprovements have not been installed per � - . City standards. . �, � � ProW ded further, hoNever, that tn the event the above-described � �:�'�. .I '� . improvements are lnstalled per City standards and a cerN H cate of parttal compltance is signed by the City, then in that event, we are further instructed to release progress pa;ments far the amount of improvements installed per City standards and approved by the City. The City shall have � ' � first claim and priority to the remaining balance of said sum of Eiqht thousand four hundred uollars (S 8 400,00 1• �, �� "•� s/oa .