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1 <br />u�1112%2110 <br />.Inl FALL <br />F1996 <br />........F.............. <br />CITY OF EVERETT <br />Public Works Dept. <br />Name of Project: <br />Construction Site Address: <br />Permit Reference: <br />ASSIGNMENT OF FUNDS TO THE CITY OF EVERETT <br />For: (describe improvements) <br />Improvements to be installed per City standards by 19 <br />We hereby agree that the sum of Gl H n4oc.tSn <br />(2 Dollars ($ 8 00O Q_') <br />will be held in Escrow Account No. /oo o galls in F Ro.aTse¢, B%*41 ec _ (hereinafter <br />referred to as "Bank") whose address is p, 0. go)c -10 EOMoaOs Lot -A. RSo-Lo , <br />in the name of jjp2YAyzi CONsrru.cZsofJ to assure performance of the above -described <br />improvements and guarantee that these funds will not be released without prior written approval from <br />the City of Everett Public Works Department (hereinafter referred to as "City"). We agree that upon <br />completion of the installation of the above -described improvements per City standards and approval <br />by the City, the City will provide written notice to the Bank authorizing the .elease of these funds. <br />We further agree that these funds will be released to the City upon notice by the City that the <br />improvements have not been installed per City standards. <br />Provided further, however, that in the event the above -described improvements are installed per <br />City standards and a certificate of partial compliance is signed by the City, then in that event, we are <br />further instructed to release progress payments for the amount of improvements installed per City <br />standards and approved by the City. The City shall have first claim and priority to the remaining <br />balance of said sum of Fr ->La F- Dollars ($ o'' <br />