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� <br />; ��r��c��<�l[)) <br />IM i=:_tL! <br />� ............................. <br />CITY OF EVEnETT <br />' I';.61ic lYorka �opt. <br />Hame of ProJect: <br />Walden Pond Apartments <br />Cuns G•uc[ton Stte AJdress: <br />9900 - 12th Avenue West <br />Pennit ReFerence: <br />Public Works Permit <br />ASSIGNPIENT Of f'UNUS T� 111E CITY OF EYEIIETT <br />Far: (describe lmprovements) � <br />Sitr. work and ut411tles (materlal cost and installatlonl <br />Iniprovements to Le lnslalleJ �i�r City standards �y August 31, �q90 <br />' Two Fiindred Txmty-six Ttnisand Fk�ht <br />Nc hereby a9ree Lliat the smn of �Hurdigl 7}�� pd�� � 3p Ca�ts, <br />Savin s <br />Uollars ( 7i6,803.30 ) wilt be held in �ilNdd�d Account <br />��o. 21-OIOI6787 in Security Padfic Savinas Bank (herelnafter <br />referred to as "Oank"1 wl�ose aJclress 1s 1100 - 2nd Avenue, Seattle, WA <br />� 98124 , in Lhe uame of Walden.Pond Equities, L.P, <br />to assurc perPorniance of the abovc-descriLeJ {mpruvements and 9uarantee that <br />these funds will not be rcicaseJ e�ilhout prlor written approval from the <br />City of Everett PuLlfc Hm�ks Ucparlment (licrcinaf[er refcrreJ to as <br />"City"1. Nc agree tliat upon cmnpletiun of Uic lnstallatlon of the <br />abave-descrt6ed Improvements per City stanJards anJ approval Ly the City, <br />the City Hill proviAe krllten uoticc to thc Oank authorizin9 thc releasc of <br />these funds. Ne furthcr a9rcc thal lhese funJs will. be relcased to the Cfty <br />upon notice by the City ChaC Uic imprnvements havc noC bcen Ins[a11eJ per <br />City standards. <br />PiroviJeJ fur[hcr, huHevm•, that hi Um evr.nt thc a6ove-descriLeJ <br />im�n•ovcinents are lnstalleJ ��cr City slandards -and a ccrU ficatc uf partlal <br />cmupllance 1s slpned Ly the City, Ihen in lhat event, ��e are (urtlier <br />instructed to release pro9ress paymenls for Lhe amomit of improvements <br />InstalleJ per Ctty standarJs and approved hy the Cf[y. lhe Cfty shall have <br />ftrst elafm and priority to the reniatuing 6alauce of sald sum <br />Txo Fhrdred Twmty-six TTnisarxi F7ght <br />u( Fkrdr�Three�i Idnard 30 CeNs,_Ilullars ( 226.803.30 1. <br />5/00 <br />