HomeMy WebLinkAboutS_Release_Letter_MM_LUA14-000550_20210429
April 29, 2021
The Quadrant Corporation
15900 SE Eastgate Way, Suite 300
Bellevue, WA 98008
SUBJECT: RELEASE OF ASSIGNMENT OF FUNDS ACCOUNT #1-575-0921-9315
COPPERWOOD PLAT / LUA14-000550
Dear Sir/Madam:
This letter will serve as authorization to release the Assignment of Funds from account #1-575-0921-9315
held at US Bank issued to The Quadrant Corporation on February 24, 2016 in the amount of $53,125.00. This
item was posted to the City of Renton on behalf of the Copperwood Plat project. Enclosed is the document
for your reference.
If you have any questions, please contact the project manager, Brittany Gillia at (425) 430-7246.
Sincerely,
Vanessa Dolbee
Planning Director
Enclosure(s): Assignment of Funds Account #1-575-0921-9315
cc: Brittany Gillia, Assistant Planner
HousingCapitalCompanyadivisionofbank.ASSIGNMENTOFFUNDSTOTHECITYOFRENTONApplicant:LeviRowseBank:USBankOwner:TheQuadrantDivision:HousingCapitalCorporationAddress:14725SE36thStAddress:14205thAvenueBellevue,WA98006Seattle,Wa.98101Phone:425-455-2900Phone:206-344-4504Fax:425-646-4136Fax:Attention:LeviRowseAttention:ErwinFulgencioTitle:LandDevelopmentTitle:AssistantViceManagerPresidentTheabovereferencedbankherbycertifiesthat$53,125.00isondepositinaccount1-575-0921-9315underthenameofTHEQUADRANTCORPORATIONassignedtotheCITYOFRENTON,tosecuretheapplicant’sperformanceofthefollowingwork:CopperwoodPPMitigationProjectThebankherbycertifiesandagreesthatthesefundswillnotbereleasedwithoutwritteninstructionsfromanauthorizedagentoftheCityofRenton(theCity).WefurtheragreethatthesefundswillbepaidtotheCitywithin10daysofreceivingwrittennoticethattheCityhasdeterminedthattherequiredworkhasnotbeenproperlyperformed.ThebankshallhavenodutyorrighttoevaluatethecorrectnessorappropriatenessofanysuchnoticeordeterminationbytheCityandshallnotinterpleadorinanymannerdelaypaymentofsaidfundstotheCity.
HousingCapitalCompanyadivisionofbank.TheapplicantherebyagreestothisAssignmentofFundsandthatitsobligationtoperformtherequiredworkisnotlimitedtotheamountoffundsheldbythebank.ThisAssignmentofFundsisirrevocableandcannotbecancelledbythebankorapplicant.Thesefundsmaynotbeassigned,pledged,useassecurityorotherwisemadeavailabletotheapplicant,bankorthirdpartywithoutthepriorwrittenconsentoftheCity.U.S.BankNationalAssociationBy:Name:ErwinFulgencioTitle:AssistantVice-PresidentSTATEOFWASHINGTON)ss.CountyofKing)IcertifythatIknoworhavesatisfactoryevidencethatErwinFulgencioisthepersonwhoappearedbeforeme,andsaidpersonacknowledgedthathe/shesignedthisinstrument,onoathstatedthathe/shewasauthorizedtoexecutetheinstrumentandacknowledgeditastheAssignmentofFundsToTheCityofRenton.D
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--I2GtWM4um1O4ljNota]Publicii1andforth’StateofWashington,residingatlC(11tI’St4JCL(LL+hYWma1tjUName(printedortyped)]Myappointmentexpires:NotaryPublicStateofWashingtonJUDITHYUMANGMyAppointmentExpiresMay5,2018
HousingCapitalCompanyadivisionofbank.TheQuadrantCorporationName:Title:r,’a-’-Pr,STATEOFWASHINGTON))CountyofKing)IcertifythatIknoworhavesatisfactoryevidencethatt__________________________________isthepersonwhoappearedbeforeme,andsaidpersonacknowledgedthathe/shesignedthisinstrument,onoathstatedthathe/shewasauthorizedtoexecutetheinstrumentandacknowledgeditastheAssignmentofFundsToTheCityofRenton.DATEDthisLl7udayofi2i-’-)i,2015.NotaryPublicinandfortheStateofWashington,residingat),_L_j—r-(/1/L.Name(printedortyped)Myappointmentexpires:Ct