6920 SEAWAY BLVD 2018-01-01 MF Import

, , / ;' ,' � / / � � S. Thvt thc Owncr agrees that he will install Ihc following improve- � nents to the sntis(action of the City: t6c imd�rground orn�amental strcet lighting according to i. G. S. stm�dards and currcnt City o( Evcrctt st�ndards. G. Thnt ihc Owncr ngrces thnt the time period during which he will instoll thosc improvemcnts required by thc Cily shnll be_ ONE YEhR _� and such time period shnll ex�.�.re on thc_3oih day o! ,Iunc , 1985• �. if Owncr fully nnd faith[ully performs his obligotions within thc reyuisite timc pertod ns described in Poro�rnph 6, thc City sho❑ by writlen evidencc signed by lhc City Gnginccr or his designcc, relinquish City's inlcrest In svid Om:k acccunL � 8. 1[ Owner fails to fully nnd fnilhfu�ly�erform his obligolions described in Pnrugrnph 6, snid sevings occount shnll be pnyablc lo the Cily. Thc Denk she❑ pey the emount in'the savings nccount to thc City upon presentaUon ot an effidevft ot non-performencc signed by thc City Enginccr or hfs deslgncc; Owncr egrces to holA ond snve �ank hnrmlrss lor such poyment upon presentntion of sotd etfidevit. 9. Owner hereby instructs Uank thnl snid snvings occount shall not be peid to Owner unless hc shnll ,resent written evidence of City's release of its inlerest in sold savings nccouni. 10. O�.�ncn c�rchy �rrcrs thnt if Ilnnk chnrges ¢np tcc cr scrvicc chargc for rr.ainteinin�snid snvings account nursunnt to this Agreement, it shnll be hfs sote responsibility. �ank mny deduet such fec, if nny, [rom the necrued interest of lhe mor.ics deposited in snid uccount prlor to disGursement of lhe funds pursuont to thls Agrcement or deduct lhnl nmount nt the timc of the disbursement. I[ snid [ee or sr.,-vice chnrg: exceeds tLe omount of necrued interest nnd in the event the funds ore disbursed to lhc City, the City shntl be entiqed lo recovcr trom Owner thc di(fcrencc betwcen thc amount disbursed nnd the originni omount of the security deposiL IL This .\crcement ond nny othcr pnv,es or documcnts attached hereto and incorporeted by referenee herein constitule the entire Agreement with respeet to ihc nssignment o[ savings aceount between Owner end City. This Agreement shnli run with thc Innd und shnll bc binding upon thc nssigns. successors, personel represen[otives ¢nd hcirs of thc purtics hcreto.