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,/ Nnuic of l'rojccL• . <br />Const. Silc Addrass: <br />Pcrmit Refercncc: <br />ASSI ,NA1�t7T OP PUNUS TO TIIti CI"CY OI' P.Vti:zr.�r•r <br />Ccr: (dcscribc improvement,) <br />(to bc ins[nlled per Cily stnnd�uels). <br />IVc hcrcby ��rcc lhnl lhc snrn of ."p 75,309.00 _��;ill br, hr.lrl in I:scrov� <br />�:ccount No. 312-707923 �� P'i.rsr_ Wes`ern Rink <br />(hercinnftcr referrcd lo ns "I3an1<") in the nnme of �ver.c�reen Cartinus Assoc. Ltd. Ptnrshp. <br />(hercinnftcr reCerred to ns "Appiicnnt") to nssurr. performnnr.c of lhc <br />❑bove-described irnprovements nnd gunrnntcc lhnt thesc funds �vill not hc ic',cased <br />without prior written npprovnl from lhc City of isvcreLt Pnhlic 1Yorks Dcpnrlmr.nt <br />(hcreinnfter re[crred to ns "City"). I1'c ngrcc that upon completion of (hc <br />, <br />instnllation of lhc improvements per City standnrds rmd Approvel hy the C(ly, tha <br />City will provide written notice to the Dnni< nuthorizin(; lhc rr.lcase of Ihesr. fmids. <br />15'e [urther agree thnt fhese [unds will be rclenscd to the City upon noticc b,y th�� <br />City thnt the irnprovements hnvc not bcen installed pr,r Cily slondnrcl�. <br />Provided (urther, however, llmt in the event thc nbovc-described iinrrov�- <br />ments nre installed per City standnrds nnd n ccrti[icnle o[ pnrtinl complinncc i:; <br />signed by the Ci�Y, then in tlmt event, we nre Curther instructed to relense progress <br />pnyments [or thnt nmount of improvemcnls instulled pr.r City stnndnrds ru�d <br />npproved by the City. The Cily shnll hnve tirst claim nncl priorily lo thc remninin� <br />balnnce of snid sum of $ 15, 309 <br />FiRST �VES'1'L•'RN BF�NK <br />�ynin^ of ISnnlc <br />ny: <br />nadress: <br />Title: • <br />Telephonc No.: <br />Contnct Pcrson: <br />I'npr, 1 oC 2 � p�� � <br />