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Name of Project: <br />Construction SiteAddress: <br />Permit Reference: <br />ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT <br />For: (describe improvements) <br />�a' �ti' i�lLfX, �tc�Css %C,P5�i fiiU/�X ND�1� <br />—T <br />1 <br />Improvements to be installed per City standards by . — E <br />��,,// L 1 0 <br />We hereby agree that the sum of, (` " %%JC'/,rif�Y fwa&llars (St GG ) <br />will be held in Escrow Account No.3240030449 in FRONTIER BANK (hereinafter <br />referred to as "Bank") whose address is _332 SW EVERETT MALL WAY EVERETT, WA 9 <br />in the name of THREE THOUSAND Two HUNDRED DOLLARao assure performance of the above -described <br />improvements and guarantee that these funds will not be released without prior written approval from <br />the City of Everett Public Works Department (hereinafter referred to as "City"). We agree that upon <br />completion of the installation of the above -described improvements per City standards and approval <br />by the City, the City will provide written notice to the Bank authorizing the release of these funds. <br />We further agree that these funds will be released to the City upon notice by the City that the <br />improvements have not been installed per City standards. <br />Provided further, however, that in the event the above -described improvements are installed per <br />City standards and a certificate of partial compliance is signed by the City, then in that event, we are <br />further instructed to release progress payments for the amount of improvements installed per City <br />standards and approved by the City. The City shall have first claim and priority to the remaining <br />balance of said sum ofTHREE THOUSAND TWO HUNDRED Dollars ($3,200.00 ). <br />