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�-�i or� u�c� ✓ <br />Name of Project . <br />/ /� /,c� /�'%6; //�✓�. <br />Construcdott Site Address: <br />� OloOa�- 003 <br />Permit Reference: <br />ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT <br />Improvements to bc installed per City standards by �>n ,�C� . <br />( a�lJ�oT /7�G�tc� � oa7J <br />We hereby agree that the sum of,�y(, ����q,� „¢l��,f �u,�,+Cl,uc�,de 11t.u.�v%�Dollars <br />($ (D X�'� . �DD )����� be held in Escro�v Account No. gf (e�-�� Z�CI Z in <br />11�e � �S �C(1"Cl (� �LY� � (hereinafter teferred to as "IIank") �vhose address is <br />�SD2 E,ut�((�y_'�� �V U�,A �i£iLL�L'� in the name of <br />—L��1C� ���CS�1,i.i.k� to assure perfortnance of the <br />above-dcscribcd improvcments and guarantce that these funds will not be released without prior <br />�vritten approval f'rom the City of Gverett Public Works Department (hereinafter referred to as <br />"City"). We agree that upon completion of the installation of the above-described improvements <br />per City standards and approval by the Cit}', the City will provide �vritten notice to the Bank <br />authorizing the release of these funds. We further agree that these funds will be released to the <br />Ciry upon notice bv t',e City that the improvements have not been installed per City standards. <br />Provided further, however, that in the event tlie above-described improvements are installed per <br />City stnndards nnd n certificate of pariial compliance is singed by the City, then in that event, we <br />are ft�reher instructed to release progress payments for the amount o: improvements installed per <br />City standard and approved by t��e City. The City shall have first claim and prioriry to the <br />remainin balance of said sum of ���� <br />S �4a `�wi,w� l��ttr�uc�.d-lU4rtt,ni..�., o11azs <br />($ (p,�i I.l�� )• <br />Assignment of Funds, Page, i oE 3 <br />�/:l��Nal SP.1� �U' �I[lIv7�ltq Nf�l <br />1 <br />