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S_Assignment_of_Funds_Wetland_M&M_Weston_Heights_LUA16-000140_171009
DEPARTMENTOFCOMMUNITYANDECONOMICDEVELOPMENT—“Penton0ASSIGNMENTOFFUNDSandAddress15LakeBellevueDrive,Ste102TOCITYOFRENTONBellevue,WA98005ProjectNo.(PR)/ConstructionPermitNo.(U)ProjectNamePR16-000080/U16-003996WestonHeightsNorthShortPlatDepositAmountSiteLocation$24,013.00702NileAVeNE,Renton,WA98059TheUSBankN.A.FinancialInstitution,authorizedtodobusinessintheStateofWashington,herebycertifiesthatthesumof$24,013.00isondepositwiththeFinancialInstitutioninAccountNumber1-535-9611-7223underthenameWestonHeights,LLCtosecurefortheCityofRenton,hereinaftercalledtheCITY,theabove-namedApplicant’s,hereinaftercalledAPPLICANT,performanceofcertainworkandconditionsrequiredinconnectionwiththeabove-referencedproject.THECONDITIONOFOBLIGATIONisthat:1.TheAPPLICANThasexecutedan“Agreement”entitled5YearWetlandEnhancementMaintenanceandMonitoring“,acopyofwhichisattachedheretoandincorporatedhereinbythisreference.2.UndertheprovisionsoftheAgreement,theAPPLICANTisrequiredtofurnishguaranteetosecuretheAPPLICANT’ScompliancewiththetermsoftheAgreement.ITISFURTHEREXPRESSLYPROVIDEDthat:1.TheFinancialInstitutionherebycertifiesandagreesthatthesefundswillnotbereleasedwithoutwritteninstructionsfromanauthorizedagentoftheCITY.ThisAssignmentofFundsisirrevocableandmaynotbeterminatedorcancelledbytheAPPLICANTorFinancialInstitutionforanyreasonexceptuponspecificwritteninstructionsfromtheCITY.2.TheFinancialInstitutionagreesthatthesefundswillbepaidtotheCITYwithin10daysofreceivingwrittennoticethattheCITYhasdeterminedthatrequirementsoftheAgreementhavenotbeensatisfactorilyperformedwithinapplicabletimelimitsorthatrequiredfeeshavenotbeenpaid.TheFinancialInstitutionshallhavenodutyorrighttoevaluatethecorrectnessorappropriatenessofsuchnoticeordeterminationbytheCITYandshallnotinterpleadorinanymannerdelaysaidpaymentoffundstotheCITY.AnyunexpendedfundsshallbereturnedtotheAPPLICANTuponcompletionofthetermsoftheAgreement.3.TheobligationsoftheFinancialInstitutionandAPPLICANTshallnotbedischargedandshallremainineffectintheeventofanyextensionoftimefortheAPPPLICANT’SperformanceoftheAgreementorofanyamendmentoftheengineeringplansusedforconstructionoftheproject.TheFinancialInstitutionherebywaivesnoticeofanysuchextensionoramendments.4.TheAPPLICANT’SobligationtoperformtheworkorpayfeesandotheramountsisnotlimitedtotheamountofthisAssignmentofFunds.111/07/2016 ProjectNo.(PR)/ConstructionPermitNo.(U)ProjectNamePR1S-000080,U16-003996WestonHeightsNorthShortPlatFINANCIALITIONOFFICIAL:FINANCIALINSTITUTION’SMAILINGADDRESS:(Signature)(Date%exjvtA9cç\ThsçitzrGflzLtW(PrintName)(PoneNumber)StateofWashington,CountyofKingIcertifythatIknoworhaveseensatisfactoryevidencethatPRI1(f.ità€LUS(FinancialInstitutionOfficial)signedthisinstrumentandacknowledgesittobehis/herfreeandvoluntaryactfortheusesandpurposesmentionedinthisinstrument.(NotarySealorStampforDated:OcFvbe...—(3819FinancialInstitutionOfficialSignature),J,f,SignatureofNotaryPublic:LLAc’(J_4JJ&WVi.Title:C”NotaryPublic‘StateofWashingtonIiJANICE6ALVERSONMyappointmentexpires:qMyAppointmentExpiresApr29,2018ItistheAPPLICANT’SresponsibilitytonotifytheCityofRentonofanychangeinaddress,telephonenumberorchangeofownershipoftheproperty.ItistheAPPLICANT’Sresponsibilitytoarrangeforreplacementofany/allfinancialguaranteespriortoanychangeofownership.APPLICANT’SMAILINGADDRESS:(Date)e.Va,ti;/o/C%ia/vtc1eib281’flcivuJjl/4goosr4zc_e3Lpg-_oZQ(PrintName)..)(‘PhoneNumber)RecttdforCityofBy7Date211/07/2016