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" Name of Pro�ect: <br /> Everett Industr3al Supply, Inc. <br /> y� H Construction Site Address: <br /> � � 2201 Pacific Avenue, Everett H'A 98201 <br /> �y , <br /> y Pcrmit Reference: <br /> x <br /> M y � 88-21377 <br /> K�n <br /> H� <br /> �v� � ASSIGNFIENT OF FUNDS TO TfiE CITY OF EYERETT <br /> s <br /> oy�d�y For: (describe improvements) � <br /> M�q p Storm drainage, sidewalks and related site improvement work in accordance <br /> QY (�] <br /> �y� with anProved plans prepared by Trepanier Engineering. Reference IIuilding <br /> �y y PermiC 88-21377. <br /> � �' Improvements to be installed per City standards by sepcember 1 �g gg, <br /> �� <br /> o� We hereby agree that tfte Sum of Fourteen Thousand Two Hundred 6 Eighty-six <br /> Dollars (S 14,zsb.00 • 1 will be held in Escrow Account <br /> No. in Seattle Firs[ National Bank (herelnafter <br /> referreA to as "Bank") whose address 1s 1602 Ilewit[ Avenue, everecc wn 98206 <br /> � �0 th0 name Of Ci[y of Evere[t Public Works Departmen[ <br /> to assure performance of tlie above-described improvements and g��rantee that <br /> these funds Nill not be released witliout prior written approval from the <br /> '�` City of Everett Public Works Department (hereinafter referred to as <br /> ��� "C1ty"). � We agrce tliat upon completion of the installation of the <br /> ��' above-descrlbed improvements per C1ty standards and approval by the City, <br /> ��� the City will proviie written notice to the �ank authorizing the release of <br /> � these funds. We further agre� thrt these funds will be released to the City <br /> r upon notice by the City that tlie improvements have not been installed per <br /> �� City standards. <br /> (�' ProviJed furtfier, however, that in the event the above-described <br /> �' improveme�ts are installed per City standards and a certificate of partial <br /> � compliance 1s signed by the C1ty, tlien in tliat event, we are further <br /> ; instructed to release progress payments for the amount of improvements <br /> installed per City standards and approved by thc City. The C1ty shall have <br /> first claim and priority to the remaining balance of said sum <br /> Of Fuurteen Thousand Two 1lundred & Uolldl'S (E 14,286.00 �, <br /> Gighty-Six <br /> S/DO <br /> � / � , / � ., � , , . . . , <br />