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Cash Surety Deposit Deferral
DEPARTMENTOFCOMMUNITYANDECONOMICDEVEOPMENTCASHSURETYDEPOSIT-APPLICANTNameandAddressDEFERRALASSURANCEName:AUvCi-flAddress:I-IlWvica96OPhone#:t-25HG-iO2-2.-ProjectNo.IPermitNo.ProjectNamePR21-000135/DEF23003633VaughnShortPlatCashSuretyDepositSiteLocation$109,768.391400AberdeenAveNETheCityofRenton(the“CITY”),herebyacknowledgesreceiptfromtheabove-namedAPPLICANT,whohaspaidthecashsuretydepositamountnotedabove.TheAPPLICANTherebyauthorizesthatthesumreferencedabovebekeptondepositwiththeCityofRentonFinanceDepartmentforthepurposeofguaranteeingthattheabove-referencedprojectwillbecompletedinaccordancewithapprovedplansandconditionsandapplicableCitystandardsnolaterthanJuly12.2024.Theseimprovementsaredescribedontheabovereferencedpermit(s).TheCityofRenton(the“CITY”),herebyacknowledgesreceiptfromtheabove-namedAPPLICANT,whohaspaidthecashsuretydepositamountnotedabove.TheAPPLICANTherebyauthorizesthatthesumreferencedabovebekeptondepositwiththeCityofRentonFinanceDepartmentforthepurposesofguaranteeingthattheabove-referencedprojectwillbemaintainedinaccordancewiththe(“AGREEMENT”)fortheproject.THECONDITIONSOFOBLIGATIONisthat:1.UntilwrittenreleaseofthisobligationbytheCITY,thiscashfinancialguaranteemaynotbeterminatedorcancelledbytheAPPLICANTforanyreason.2.TheobligationsoftheAPPLICANTshallnotbedischargedoraffectedbyanyamendmentoftheengineeringplansusedforconstructionoftheproject.3.UponfailureoftheAPPLICANTtoperformanyofthetermsoftheAGREEMENT,theCITYmayusethefundstocompletetheworkandpayoutstandingfeesandotheramounts.TheAPPLICANTshallhavendutyorrighttoevaluatethecorrectnessorappropriatenessoftheCITY’SdeterminationthatrequirementshavenotbeentotheCITY’Ssolesatisfaction,ofthetermsoftheAgreement.4.TheAPPLICANT’Sobligationtoperformtheworkorpayfeesandotheramountsisnotlimitedtotheamountofthiscashsuretydeposit.Page1of2IPublished:2/1/2018 ItistheAPPLICANT’SresponsibilitytonotifytheCITYofanychangesinaddress,telephonenumberorchangeofownershipoftheproperty.ItistheAPPLICANT’Sresponsibilitytoarrangeforreplacementofanylallfinancialguaranteespriortoanychangeofownership.APPLICANT:(PrintName)(Signature)(Date)Page2of2IPublished:2/1/2018