3420 HAYES ST 2018-01-02 MF Import

nC�L�ILa�ls1�b' Name of Project: N FI..'i Alley Paving behind proposed Warehouse Bullaing Construction Site Address: / 1725 East Marine View Drive CITY OF EVERETT Permit Reference: Public Works Dept. Gary G. Davis ASSIGN4ENr OF FONDS TO T[1E CITY OF EVERFIT For: (describe improvements) -Ay n Ili— by Larry Crawford in letter dated 30th Mav 1986(Cony encl sed) Improvements to be installed per City standards We hereby agree that the sum of $ 4,000.0o will be held in Escrow Account No3214 662334 In Frontier Bank (hereinafter referred to as "Bank") in the name of Gary G. Davis (hereinafter referred to as "Applicant") to assure performance of the above -described improvements and guarantee that these funds will not be released without prior written approval from the City of Everett Public Works Department (hereinafter referred to as "City"). We agree that upon completion of the installation of the improvements per City standards and approval by tine City, the City will provide written notice to the Bank authorizing the release of these funds. We further agree that these funds will be released to the City upon notice by the City that the improvements have not been installed per City standards. Provided further, however, that in the event the above -described improvements are installed per City standards and a certificate of partial compliance is signed by the City, then in that event, we are further instructed to release progress payments for that amount of improvements installed per City standards and approved by the City. The City shall have first claim and priority to the remaining balance of said sum of $ 4,000.00 Frontier Bank - Main Office f Name o Ban By:y Address: P.O. Sox 221s yCCC tt, Title: New Accounts Of Telep''ione no.: 347-0600 Contact Person: Betty Mercier