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C�Op� <br />� I'�D1Son) <br />Name of Project <br />2zz', z��.Stz�.z9 MAD�s.N �4vE, <br />Construction Site Address: <br />Permit Reference: <br />ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT <br />For: (describe improvements) <br />►, , <br />- • . ..� . <br />Improvements to be installed per City standazds by "T' �.'1'" QSc�� wlf Qdt' :,.. #,Sewlto(� <br />We hereb a ree that the sum of � s" <br />Y 6' �YGC.'�ri�.ewa�'�w'�"vtN�u .r.l �,r =Dollazs <br />($ 3•e37r .� ) will be held in Escrow Account No. OQ3-904082-9 in <br />��. <br />n��Felerll 5.� „�.�. (hereinafter referred to as "Bank") whose address is <br />5904 /91r�`` S.1.�1. � L.�v a�.( L�I� 48aNG in the name of <br />i"' NR t STSNSTc�1 Q N R�a�T���O ME � iw�G to assure perforrnance of the <br />above-described improvements and guarantee that these funds will not be released without prior <br />written approval from the City of Everett Public Work:, Department (hereinafter referred to as <br />"City"). We agree that upon completion of the installation of the above-described improvements <br />�er City standazds and approval by the City, the City will provide written notice to thz Bank <br />authorizing tI��. release of these funds. We further agree that these funds will be released to the <br />City upon notice by the City that the improvements have not been installed per City standazds. <br />Provided further, however, that in the event the above-described improvements az•e installed per <br />City standazds and a certificate of partial compliance is singed by the City, then i.n that event, we <br />aze further instructed to release progress payments for the amount of improvemects installed per <br />City standazd and approved by the City. The City shall have first claim and priority to the <br />remaining balance oisaid sum oC THREE THOUSAND THIRTY SEVEN AND 50/100 Dollazs <br />($ 3037.50 <br />)• <br />u��s:,t�/ /v /�Qu��Yl�k��N <br />� y-as-�s <br />Assignment of Funds, Page 1 of 3 <br />