5711 HIGHWAY PL 2018-01-02 MF Import

, OCOA/.r/OA' 4 QENCE2 Coyne 9g /O — E✓f4 LL PEEN 'r✓9f/ &'e.e77 woe.. 9P-'O 51 Name of Project: Coast. Site Address: / Permit Reference: ASSIGNMENT OF FUNDS TO THE CITY OP EYERP.TC For: (describe improvements) sidewalks. curbs and nutters (to be installed per City standards). We hereby agree that line sum of $ 13,775.40 will be held in liscrow Aecmul No. "nn01-1h504 3_ in Everett Federal Savings and Loan (hereinafter referred to as 1113ank') in tine name of0'Sonnor s Oehler roast. (hereinafter referred to as "Applicant') to assure performance of the above -described improvements and guarantee that these funds will not he released withnnl prior written approval from the City of Everett Public works Ucpnrimenl (hereinafter referred to as "City'), lye agree that upon completion of the installation or the improvements per City standards and approval by the City, tine City will provide written notice to the Bank aulinorizing the release of these funds. We further agree that these funds will be released to the City upon notice by lho City that the improvements have not been installed per City standards. Provided further, however, that in the event the above -described improve- ments arc installed per City standards and n certificate of partial compliance is signed by lice City, then in that event, we are further instructed to release progress payments for that mount of improvements installed per City standards and npprovcd by the City. The City shall have first claim and priority to the remaining balance or said sum of s 13,775.40 Everett Federal Savings G Loan (Name of Bank By: Address: _,cn2 Wall Street, Everett WA 98201 '1'IIIC: Vol,Pr %idea Telephone No.: 298-3641 Contact Person: Randy Grant Q/1/G/,fl/�C Srl/T % C//�/ CLric,c`--/1 Page I of 2 ✓ lw /8K� 10/85