10220 3RD AVE SE 2018-01-01 MF Import

Name of Pro�ect: FULTON'S LANDING Construction Site Address: 10220 3RD AVE S E E9ERETT wA qA7nx_ Permit Refergn��_ /� gs' � ASSIGNMENT OF FUNDS TO THE CITY OF EYERETT For: (descrlbe improvements) � I One e by developer deeded [o [he citv. — ma ntenance requirement [o end �y 89 � I�cC,t�mcineod�►mme3�3�adc per City standards by June 30 We hereby agree that tfie sum of One chousand four hundred — Dollars (S 1,400.00 1 will be held in Escrow Account No. OU15403215 1n Sea First A�atio--' °-^� (her2lnafte:' referred to as "Bank"1 whose address is 4TH 6 Madison aranch r o aox 358F Seat[le, WA 98124 � lfl the name Of TCR 1�503 Everett�y E�rrc�v rrnun[ to assure performance of the above-described improvement•s and guarantee that these funds Nill not be released without prior written Tpproval from the City of Everett Public Norks Dep�rtment (hereinafter referred to as "City"). Vle agree that upon completion of the installatlon of the above-described improvements per City standards and approval by the City, the City will provide written notice to the Dank authorizing the release of these funds. 41e further agree that these funds will be reteased to the City upon notiCe by tlie City f.hat the improvements have not been installed per i City standards. Pravided 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 I instructed to release progress payments for the 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 One thousand four hundred U011al'S (b i inn n� —�' �� /�� .rlti�� —�i� " — 5�88 ��,�,�r./> �L'�.�.;� -� �'�� C'tc EG.� (� -/7-�ys �