HomeMy WebLinkAboutC_Landscape_Maintenance_Surety_Receipt_171019_w_enclosure
October 19, 2017
Robert Fitzmaurice
15 Lake Bellevue Drive, Suite 102
Bellevue, WA 98005
RE: FIVE YEAR LANDSCAPE MAINTENANCE AGREEMENT RECEIPT
Kinkade Crossing Final Plat
City of Renton File LUA17-000469, FP
Dear Mr. Fitzmaurice:
We received the assignment of funds for the five year landscape maintenance agreement for Kinkade
Crossing Final Plat, dated October 16, 2017, for the sum of $93,662.18 to cover the cost of a successful
maintenance and monitoring of the landscaping. The date of this letter is recognized as the start of the
five-year maintenance period.
If you have any questions, please feel free to contact me at (425) 430-7289.
Sincerely,
Clark H. Close
Senior Planner
S_Assignment_of_Funds_Landscape_Maintenance_Agreement_171016
cc: File #LUA17-000469, FP
Stacy Tucker, Planning Technician
DEPARTMENTOFCOMMUNITYANDECONOMICDEVELOPMENT—-“RentonASSIGNMENTOFFUNDSApplicant’sNameandAddressNordicRidge,LLCTOCITYOFRENTON15LakeBellevueDrive,Ste102Bellevue,WA98005ProjectNo.(PR)/ConstructionPermitNo.(U)ProjectNamePR16-000154U16-001701KinkadeCrossingDepositAmountSiteLocation$93,662.1817709116thAveSERenton,WA98058TheUSBankFinancialInstitution,authorizedtodobusinessintheStateofWashington,herebycertifiesthatthesumof$93,662.18isondepositwiththeFinancialInstitutioninAccountNumber153596117926underthenameNordicRidge,LLCtosecurefortheCityofRenton,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
ProjectNo.(PR)/ConstructionPermitNo.(U)ProjectNamePRI6-000154,U16-001701KinkadeCrossingFINANCIALINSTITUTIONOFFICIAL:ignature(PrintName)tifn(Date)FINANCIALINSTITUTION’SMAILINGADDRESS:.it?iAG(QC‘(L/lSc7—2-t/(PhoneNumber)StateofWashington,CountyofKing/IcertifythatIknoworhaveseensatisfactoryevidencethat//-////PjL)7½?(FinancialInstitutionOfficial)signedthisinstrumentandacknowledgesittobehis/herfreeandvoluntaryactfortheusesandpurposesmentionedinthisinstrument.Dated:/7SignatureofNotaryPublic:Title:Myappointmentexpires://Z/ItistheAPPLICANT’SresponsibilitytonotifytheCityofRentonofanychangeinaddress,telephonenumberorchangeofownershipoftheproperty.ItistheAPPLICANT’Sresponsibilitytoarrangeforreplacementofany/allfinancialguaranteespriortoanychangeofownership.APPUCANTMJLGADDRESS:Cl:(-tV14(CfO(PrintNani)viAgcô5(i-it)?c)ReceivedforCityofRentonBy/c//’PtCff//VF/A’2-PL9rDate(PhoneNumber)11/07/2016