3109 MCDOUGALL AVE 2018-01-01 MF Import

Name ot Project: _Thrifty Suoply Company iVarehse. ='onst. Site Address: 3i09 s 3125 MCDougall Permit Re[erence: ASSIGNMENT OF FUNDS TO THE CITY OP EVERCTT For: (describe improvements) Street Improvements en Pacific Ave., McDougall & 32nd Streets 5 allev east of site. (to be installed per City stnndnrds). We hereby ngree that the sum of � 29,832 will be lield in Gaerow AccoUnt No. (1027 U48966 {n People3 N1�ional Bank of Washington (hereinafter referred to as "Bank"j in tlie nnme of D s G Company (hereina[ter referred to as "A.pp[icent") to nssure performance of the above-deseribed improvements and guernntce thnt tlicse funds will not be relensed without prlor wriiten approval [rom the City of �verett Pubiie Works Depnrtment (hereinafter referred to es "City"). {Ve egrce thnt upon completion of the Installatton of the improvements per City stnnderds nnd npproval by tlie City, the City will provide written notice to the Bank authorizing the reiease of these funds. We [urther agree thet these [unds will be relensed to the City upon notice by the City tl et the improvements liave not been installed per City standnrds. Provided [urther, however, thet in the event the above-deseribed improve- ments are instelled per City standnrds nnd a certi[icote o[ partinl compli�nce is signed by the City, then in thnt event, we are furlher instructed to rr.len5e progress payments for thet emount oC improvements inslulled per City standnrds nnd upproved by the Cily. The City shnll have [irst cinim nnd priority to the remaining balance of ssid sum of S 29 • 832 . B5: Address: PEOPLES NATIONAL BANK 01' WASNINGTON Nnme o Unnk �� h. �� 723 First Aven^e> Seattle Wasliington 98104 1'itle: Vice President b Manager Telephone No.: (206) 344-2322 Contoct P��son: Rolf K. Rieger Pnoc 1 of 2 O.�'/G.�/9G S'E:�Ji TC� ClTd ('lE��f" 10/BS 6/p�F