3225 SMITH AVE 2016-01-01 MF Import

� • . Nane of Projxt: ( ConstrucNon Site Mdress: ��c-si,,.r.✓rv✓r-, � Penit Neference: er-�.�66 1151(7t�ENf OP RIIm6 70 71� CI7Y OF CVB4EIT For: (descrtbe improvements) .Sio�w.x�C Aco.v� Srsr�,Y As-� F.eo�*�'�l�+s Improvements to be lnstelled per Ctty standards by S - S 19 88. Ne hereby agree that the sm of Z 7,5�•� w111 be held In Fscrrn+ Account No. o7-4��336 in Metropolitan k�aderal Savinse (herelnafter referred to es "ilank") ln the name oF Cordon L. Aoberte (here�nafter roferred to as "Applicent") to assure perEonnsnce of the elwve-described f�rovements and goaraniee the[ these fimds will not be released without prior written eppraval fran the Ci[y of Everett R�blic Works Departmen[ (hereinafter reE�rred to as "City"). Xe agree the[ upon canpletinn of the instelletlon of the improvements per C[ty standerds anA appr val fiy the Ctty, the Ci[y v[11 provlde wrltten notice to the Ifank euthorizing the release of tl�ese hmds. We further egree tha[ these fimds wlll be released to the Ctty upon notice by the Ctty that the i�rove�en[s have not been Instnlled pr.r f.ity atnndnrds. Provided Cur[her, however, that In the event [he alwve-described i�+rovements are installed per City standards and a certlficate of patt[a� compliance is signed by the City, then in tha[ even[, i+e are fur[her instructed to release progress payments for that emant of Improvements installed per Ci[y s[endards and approved by the Ciry. The C1ty shall have First claim and prtority [o the remaining balnnce of sald sun af � 1�500.00 � � latropoliten F'ederal Sevinge k I.oen � ame o an c �' - • �� ,. .'.� Ceorge L. Johneon � Address: 93' 5 a�nier Ave. 5. , 3estSle va. 98118 Ti[le: �Perationa ManeBer Telephone no.: �206) 725-6250 Co�tact PerSon: �orge L. dohneon Pn�e 1 of 2 . ,_,