Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
S_Assignment_of_Funds_Weston_Heights_North_16-000140_171006
DEPARTMENTOFCOMMUNITYANDECONOMICDEVELOPMENT—“Renton0ASSIGNMENTOFFUNDSApplicant’sNameandAddress15LakeBellevueDrive,Ste102TOCITYOFRENTONBellevue,WA95005ProjectNo.(PR)/ConstructionPermitNo.(U)ProjectNamePR16-000080/U16-003996WestonHeightsNorthShortPlatDepositAmountSiteLocationS30,067.50702NileAveNE,Renton,WA98059TheUSBankN.A.FinancialInstitution,authorizedtodobusinessintheStateofWashington,herebycertifiesthatthesumof$30,067.50isondepositwiththeFinancialInstitutioninAccountNumber153596116522underthenameWestonHeightsLLCtosecurefortheCityofRenton,hereinaftercalledtheCITY,theabove-namedApplicant’s,hereinaftercalledAPPLICANT,performanceofcertainworkandconditionsrequiredinconnectionwiththeabove-referencedproject.THECONDITIONOFOBLIGATIONisthat:1.TheAPPLICANThasexecutedan“Agreement”entitled5yearLandscapeMaintenanceAgreement“,acopyofwhichisattachedheretoandincorporatedhereinbythisreference.2.UndertheprovisionsoftheAgreement,theAPPLICANTisrequiredtofurnishguaranteetosecuretheAPPLICANT’ScompliancewiththetermsoftheAgreement.ITISFURTHEREXPRESSLYPROVIDEDthat:1.TheFinancialInstitutionherebycertifiesandagreesthatthesefundswillnotbereleasedwithoutwritteninstructionsfromanauthorizedagentoftheCITY.ThisAssignmentofFundsisirrevocableandmaynotbeterminatedorcancelledbytheAPPLICANTorFinancialInstitutionforanyreasonexceptuponspecificwritteninstructionsfromtheCITY.2.TheFinancialInstitutionagreesthatthesefundswillbepaidtotheCITYwithin10daysofreceivingwrittennoticethattheCITYhasdeterminedthatrequirementsoftheAgreementhavenotbeensatisfactorilyperformedwithinapplicabletimelimitsorthatrequiredfeeshavenotbeenpaid.TheFinancialInstitutionshallhavenodutyorrighttoevaluatethecorrectnessorappropriatenessofsuchnoticeordeterminationbytheCITYandshallnotinterpleadorinanymannerdelaysaidpaymentoffundstotheCITY.AnyunexpendedfundsshallbereturnedtotheAPPLICANTuponcompletionofthetermsoftheAgreement.3.TheobligationsoftheFinancialInstitutionandAPPLICANTshallnotbedischargedandshallremainineffectintheeventofanyextensionoftimefortheAPPPLICANT’SperformanceoftheAgreementorofanyamendmentoftheengineeringplansusedforconstructionoftheproject.TheFinancialInstitutionherebywaivesnoticeofanysuchextensionoramendments.4.TheAPPLICANT’SobligationtoperformtheworkorpayfeesandotheramountsisnotlimitedtotheamountofthisAssignmentofFunds.111/07/2016 ProiectNo.(PR)/ConstructionPermitNo.(U)ProjectNamePR16-0000801U16-003996WestonHeightsNorthShortPlatFINANCIALINSTITUTIONOFFICIAL:FINANCIALINSTITUTION’SMAILINGADDRESS:USBankofWashington(Signaure)(Date)14205thAve10thFLSeattleWA98101PhilipJ.Davis425-637-2481(PrintName)(PhoneNumber)StateofWashington,CountyofKingIcertifythatIknoworhaveseensatisfactoryevidencethatPhilipJ.Davis(FinancialInstitutionOfficial)signedthisinstrumentandacknowledgesittobehis/herfreeandvoluntaryactfortheusesandpurposesmentionedinthisinstrument.(NotaSeaIorStampforDated:QR,)DFinancialInstitutionOfficialSignature)Ipp—a——————SignatureofNotaryPublic:JAYSONTSTERNOFFINotaryPublicTitle:‘pLAkStateofWashingtonftMyAppointmentExpires-l\IApr10,2021IMyappointmentexpires:,Jj\py4nw--fl—--IItistheAPPLICANT’SresponsibilitytonotifytheCityofRentonofanychangeinaddress,telephonenumberorchangeofownershipoftheproperty.ItistheAPPLICANT’SresponsibilitytoarrangeforreplacementofAPPLICANT’SMAILINGADDRESS:/5ttckt&/&nahn’ve,e€442s)9bq-I2I—(PhoneNumber)Rece9’forCityofRento’rry10/5/nDateany/allfinancialguaranteespriortoanychangeofownership.(Date)c%4ceqe.WuMvno(PrintNamA211/07/2016