2229 MADISON ST 2016-01-01 MF Import

�� n� 1►'I ��soa �=� Name of Project 22Z(; 222.��21L9 �14DIS�N QtWE. Construction Site Address: Pemvt Reference: ASSIGNMENT OF FUNDS TO THE CITY OF EVERET"I' For: (describe improvements) ., � • .. � . Improvements to be installed per City standazds by T n�.T ASolnwl�" Pstt' ..,� � sewlcoft We hereby agree that the sum of '�vc.�'�nMs�N.� 'i'�.��v��. ..,.1'��.tli --- - Dollars ($ �•b37, �) will be held in Escrow Account No. 003-90.'�082-9 �❑ � 1er11 Sa,,, �.,.�. (hereinafter referred w as 'Aank") whose address is SSo4 191�Y`` S.LJ., 1.... u�e� [J� 980� _ in the name of GHRtSTENSE�J �2qR�,/Ty�oNrE �inl� toassi:reperformanceofthe above-described improvements and guarantee that these funds will not be released without prior written approval from the City of Everett Public Works Department (hereinaftec :efened to as "City"). We agree that upon completion of the installation of the aoove-described improvements per City standards and approval by the Ciry, the City will provide written notice to the Bank authorizing the release of these funds. We further agree that thete fut�ds will be released to tl�e City upon notice by the City that the improvements hav;, not been installed per City standazds. Provided further, however, tliat in the event the above-described improvements are installed per City standazds and a certificate of partial compliance is singed by the City, then in that event, we are further instructed to release progress payments for the amount of improvements installed per City standazd and approvcs by the City. The City shall have first claim and priority to the [emaining balance of said sum of THREE THOUSAND THIRTY SEVEN AND 50/100 Dollazs ($ 3037.50 �. ' �"� Assignment of Funds, Page 1 of 3 (Jr�s,no/ � /�Qu////ct�'c'� $ `�-c25-GS