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. <br />Name oE Project: <br />15 Unit A• �rtment <br />Construction Site Address: <br />33z5 Rucker _ <br />Permit ReEerence: <br />/1SSIGM�N1' OF I•UNDS 'DO 71�; CITY OF EVERECf <br />... y.�.� � .:_ <br />For: (describe improvements) <br />Remove drivexay approach on Rucker and replace �ibh curb� gutter� <br />and aidewalke. Remove 120 feet sideaalk on 34th 3treet and replace <br />with ue�� curb� guCter and eidewalk. Asphalt 100 feet of alley. <br />Improvements to be instulled per City standards by Jan. 1 1988 <br />Loan <br />We liereby ree Yhut the sum of �6�000.00 will be l�eld in 7�iLEfdWC <br />1-210��-1Stl49-1 <br />Account No. inEvorett Mutual Savinas Bank (hereinafter <br />reEerred to as "Bank") in the name of 0'Connor A� Oehler (hereinafter <br />reEerred to as "Applicant") to assure,performance of the above-described <br />improvanents and guarantee that these funds r+ill not be released aithout <br />prior written approval from the City of Everett Public Wori:� Department <br />(hereinafter referred to as "City"). We agree that upon completion of the <br />installation oE the improvements per City standards and approval by the <br />City, the City Nill provide written notice to the Bank authorizing the <br />release oE tliese fimds. We further agree that these fimds will be released <br />to the City upon notice by tlie City that the improvements have not been <br />installed per City standards. <br />Provided further, hoNever, that in the event the above-desc�ibed <br />improvements are installed per City standards and a certificate oE partial <br />compliance is signed by the City, tl�en in that event, we are furtiier <br />instructed to release progress payments for that amoimt of improvements <br />installed per City standards and approved by the City. 71ie City shall liave <br />Eirst claim and priority to the remaining balance oE said sum oE <br />�6�000.00 <br />Mutual Savings Bank <br />IS�': <br />Address: <br />Title: �/ �(�e�i �/u'a-'."''"„ <br />Telephone no.: 258-3642 <br />Contact Person: Dale LYski <br />G�7,QiG-in�/.�� �,�J SFIFE- / -/ '� 7 <br />Page 1 oE 2 <br />�/aF <br />