707 HAWTHORNE ST 2016-01-01 MF Import

Loan N 01-21000-14441-8 Neme o[ ProJecte Const. Site Address: 705, 709, 6 711 Hawthorne Per mit Reterence: A3H[UN�HNT OF PUNDB TO THB CCCY OP BVERBTT For: (describa Improvemente) Nawthorne stree[ improvements (to be Installed per City stendards). W� h�r�by aar�� th�t th� �um of !�3��5•68 wlll b� hold In Cnorow AcCount No. l-a,�tv-/yv�/i 8 in Everett Federal Savtngs b Loan Assocla[lon (harelnetta� eeterred to ae "Benk") In ttie name o[ E Cary e�d Maureen D Halpin (hereinafter re[erred to ea "Applicant") to assure performonce of the above-described tmprovements and guerantee ti�at tliese [unds will not be releesed without prior written approval [rom the City of Everett Publte Works DeparUnent (heretnatter referred to es "City"). We egree that upon completton of tiie installetion ot the Improvements per City standerdc nnd approvel by the City, tlie Ctty will provide written notice to the IIenk authorizing the release of these funds. We turther agree that these funds will be released to tiie City upon notice by the City that !he improvements have not been Installed per City stanclerds. Provtded turther, however, thet in the event the nbove-descr(bed improve- ments ere installed per City standerds end a certil'fcete o[ perttal complinnce is aigned by the City, then in that event, we are [urtlier Instructed to release progress payments tor that emount of tmprovements installed per City stendnrds and approved by the Ctty. The City shall have [irst claim and prior[ty to the remaining balance of setd sum ot; � 3,015.68 , Everett Federal Savings L Loan Association Name o Bank Fiy: c, /�/L t_ Address: 1502 Wall t, Everett, WA 9820 Title: Vice President Telephone No.: (206) 258-3641 COI1tHCt Pef5007 George Dorr PagC 1 0[ 2 �>,C'/C^i;c•iJC SE.a/T i� fi � Ct�.2.C. 10/85