10925 EVERGREEN WAY 2016-01-01 MF Import

, _ •, ��, a 2. u . PQ,- )z r • '�'w� Name of Project La9�5 C�NrSY'Fcr.w�v kc-�-reff4;cqSJi� Construction Site Address s Pu�zr �+ � -9 � Permit Reference: ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT For: (describe improvements) C .�r..�� Z � Improvements to be insta;led per City standards by J�'!<� � � , 19�7. We hereby agree that the sum of�u I17C4Sc�,o/ Dollazs ($ �� S�„„c s �-- will be held in Escrow Account No.�S 7SL7bc�5 in $ C� T•�'S� (3c.911 (hereinafter referred to as "Bank") whose address is 4�yS 00 �t��f�f e�:n t*%�v �e�Y�c�1�i.�G'9��fi in the name of �{�� , �c Gc.;4 _to assure performance of the above-described improvements and guarantee that these fimds will not be released without prior written approval from tlie City of Everett Public Works Department (hereinafter referred to as "City"). We agrze that upon completion of the installation of the above-described improvements per City standards and approval by the City, the City will provide written notice to the Bank authorizing the release of these fiinds. We further agree that these funds will be released to the City upon notice by the City that the improvements have not been installed per City standards. Provided further, however, that in the event the above-described improvements are installed per City standards and a certificate of partial compliance is signed by the City, then in that event, we are fiirther instnicted to release progress payments for the amount of improvements installed per Ciry standards and approved by the City. The City shall have first claim and priority to the remaining balance of said sum of [�nF�'G'4 Sc�� Dollars (� �CnC' �L'C ).