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Home My WebLink AboutS_AOF_0221001126_M&M_Wetland_LUA04-0674WashingtonfirstInternationalBankSeattle,Washington98115ASSIGNMENTOFBANKACCOUNTDeveloper:TomFosterCompany:LangleyDevelopmentGroup,Inc.Address:6450SouthcenterBlvd.Suite#106,Seattle,WA98188BankContact:PaulFong,SeniorVicePresident,ResidentialLendingPhone:206.528.9303Fax:206.528.2202KNOWALLMENBYTHESEPRESENTSthatWashingtonFirstInternationalBankhasbeenauthorizedanddirectedbyTomFosterofLangleyDevelopmentGroup,Inc.,hereinafterreferredtoasthe“Developer”,toholdfromthefundsondepositinBankAccountNumber0221001126thesumof$1,250,excludingallbankpenaltycharges,hereinafterreferredtoasthesecurity/collateralvalue,foraMaintenanceSuretyDeviceinthenameofLangleyDevelopmentGroup,Inc.,heldfortheCityofRenton.IntheeventtheCityofRentonrequirestheliquidationofpartoralloftheabovefundsbeingheldinbankaccount,WashingtonFirstInternationalBankisherebyauthorizedanddirectedbytheDevelopertopaytheCityofRentonsuchsums,withinthelimitsoftheamountheldbytheaccount,asdeterminedbytheCityofRenton,oritsauthorizeddesignate,thatarenecessaryandrequiredbytheMaintenanceSuretyDevicebetweentheDeveloperandtheCityofRenton.Further,WashingtonFirstInternationalBankwillreleasefromthisAssignment,theamount(s)certifiedbytheCityofRenton,oritsdesignate,tothedeveloperwhensuchsumsaresoapprovedinwritingorfiveyearsfromthedateofthisAssignment,whicheveristhesooner.TheCityofRentonshallhavefirstclaimandpriorityonthesecurityvalueintheaboveaccountintheeventofdefaultoftheofthemonitoringandmaintenanceofthewetlandsassociatedwithHoneyBrookeDivisionIII,asissuedandcoveredbythisAssignment.Itisfurtherunderstoodandagreedthattheaforesaidprioryclaimisparamounttoallparties,includingthedeveloper,whoagreesthatthesecurityvalueofthebalancethereof,shallbeheldavailabletosatisfysuchclaim(s)bytheCityofRenton,notwithstandingtheterminationofbankaccountagreementbetweenWashingtonFirstInternationalBankanddepositorforanyreasonwhatsoever.AuthorizedSignatures:Signed,sealedanddatedthisdayofLangleyDevelopmentGroup,Inc.By:TomFosterIts:PresidentIts:SeniorVicePresident,Lending Ic —0 -p