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ConsL Site M1JJress: <br /> � Seaway blvd• U.0�91 <br /> � <br /> ' �' Pcrmi[ RCfcrentc: <br /> t551G!;nE!IT OF S�VI��GS 1.LLOl1'IT - PERFORN,AtlCE <br /> OUIlER <br /> iH15 ;.G,EU'.C'1T �'�ade and entcred into bcU+ren � <br /> u1.5HIt�GT0i1 FE�ERAL SAVINGS AGD lOAN ASSULIATION <br /> hercinaf[cr refcrred [o as "Bank", [hc Llty of Eve�et[ � � <br /> •vnicipal corporation undcr [hc laws o( thc 5[atc o� uashington, hercina(tcr <br /> �cicrred [o as "Lity", and _��b�9L971SeLvltei..lni�_ , hcrcinafter <br /> re(erred lo as "Owner" wNosc adAress is �y��yQ,�� �Wti4n� .+� npctd�� _ <br /> uHEREAS, Owner has purchased property which is locu[cA in Cnohom'�h <br /> Co„nty anA is described as follows: <br /> d'I property owned that fronts on Scaway Ooulcrard, located (n Sections <br /> �. :+ and II , Tc..nshiP 29. R.�nor 4 [ast. <br /> tC11CRF.AS, F,vrrctt �4unicipal Code provides thot lhe Owner shall provide <br /> thc City with e per[ormancc bond nssur(ng thc instnllntfon o! improvemenls in <br /> accorAoncc wi(h Cily slondords; nnd <br /> R'HFREAS, Owner hns assigned n snvings nccount ns security tor perfor- <br /> mnncc in Iicu of a performnncc bond; nnd <br /> '�'�i�EAEAS, (n accorAoncc wilh thc instructions set forth hcrcln, �nnk Is <br /> willing ;o ndministcr snid sovings account. <br /> f�Oh', THEREFORB, bc it agrecd betwern Ihc portics as folloH�s: <br /> 1. Owner hos esteblished e sovings account at <br /> liashin7ton Fedcral Savirrjs and <br /> I�a� t�,sociation , hcreinottcr rcferred to as "�nnk;' located <br /> n; 1d23 Fourth Avenue, Scattle , R'eshington. The <br /> ;<Ircrt e dress ily <br /> ncccunc number of snid Dank account is 06-800940-G <br /> 2. The amount of money on deposit at Dcnk in the eccount iGentified <br /> Ot�E HUNDRED SIXTEEN THOUSAI�D <br /> nbnvc by numbcr (s nNo THRee r+uuoaeo (f11G,3oo.00 )• <br /> J. Owncn c�reby ossigns seid sn�ln�s occount to City to msure Instell- <br /> etion of fmprovements which Owner witl mnke on the nbove-descrlbed pruperly. <br /> a. That �ank docs ngrcc to hold nnd dclivcr to cithcr Clty or Owner (n <br /> �scardnncc with thc tcrms of thi•. A�;recmcnt thc sim of f�1G,3^o.r,n which <br /> i3an> neknowledQes (s in its possession. <br />