2015, 09-03 Permit: SHP-2015-0005 Special Account Assignment #2300242969 s1 okane
Valley
11707 E Sprague Ave Suite 106 ♦Spokane Valley WA 99206
509.921.1000♦Fax: 509.921.1008 ♦cityhalt@spokanevalley.org
Septembert 3`d,2015
Laurie Robinson
Washington Trust Bank
Valley Home Loan Center
310 North Argonne Road
Spokane Valley,WA 99212
Re: Bowdish Three Lot Short Plat(permit#SHP-2015-0005)
Special Account Assignment#2300242969
Dear Ms.Robinson,
This letter is to notify you that the above referenced project has completed the City of
Spokane Valley's requirements. The City of Spokane Valley hereby releases all interest
in the Special Account Assignment#2300242969 in the full amount of$9943.34.
If you have additional questions,please contact me at 509/720-5324.
Sincerely,
701.
John Johnson
Development Engineering Construction Inspector
City of Spokane Valley
Cc: Development Engineering Project File
Washington Trust Bank jjj
SPECIAL ACCOUNT ASSIGNMENT FOR CONSTRUCTION PERFORMANCE SURETY
For security purposes only, BOWDISH LLC
("DEVELOPER")has deposited funds in a special account for the purpose of surety for the full and faithful performance by
the DEVELOPER of the construction of certain roads, monuments and drainage facilities for ("PROJECT")
specified in the typical section and roadway improvement plans for said PROJECT on file in the Office of the Spokane
Valley Engineer.
The DEVELOPER hereby designates SPOKANE VALLEY, a code City of the State of Washington, as beneficiary of the
following:
Special Account Number 2300242969
in the face amount of $9943.34
and held in and by
Bank Name
Washington Trust Bank
_Valley Financial Center Branch(the`BANK")
1. It is a condition of this special account assignment that it shall be automatically extended,without amendment,for an
additional period of one year from the present expiration date or each future expiration date,unless the City has
notified the`Bank"in writing not less than thirty(30)days before such expiration date,that the City elect not to
renew this letter of credit. All written notification shall be sent via registered mail.
The undersigned DEVELOPER hereby authorizes the BANK to pay over to SPOKANE VALLEY all, or a sufficient portion of
the monies on deposit in the special account referenced hereinabove,upon(1)written documentation being received from
the Spokane Valley Engineer indicating that the purposes for which the special account was assigned have not been fully
and faithfully performed as required; and(2)a statement from the City Engineer of that amount of money which the CITY
deems necessary to complete such obligation. Upon receipt of such written documentation, the DEVELOPER hereby
authorizes the BANK to release to Spokane Valley that amount of money requested, up to the maximum amount in the
special account.
Said SPECIAL ACCOUNT ASSIGNMENT FOR CONSTRUCTION PERFORMANCE BOND PURPOSES is made as security for the full
and faithful performance by the DEVELOPER to complete the improvements in accordance with the accepted plans.
During the construction period, Spokane Valley may request payment from the BANK for the purposes of completion of
improvements, by providing documentation to the BANK. Spokane Valley's documentation shall indicate that the
construction of the improvements has not been performed in accordance with the accepted plans for the PROJECT and
therefore the purposes of said SPECIAL ACCOUNT ASSIGNMENT have not been fully and faithfully performed as required.
The City Engineer's documentation shall also include a statement of the amount of money that Spokane Valley deems
necessary to complete such obligation. Upon the BANK'S receipt of such written documentation, the DEVELOPER hereby
authorizes the BANK to release to SPOKANE VALLEY that amount of money requested,up to the maximum amount in the
special account.
A copy of all such documentation and correspondence with the BANK shall be provided by the City Engineer to the
DEVELOPER at the address noted below.
DATED this 25th day of June ,20 15_.
Washington Trust Valley Home Loan Center 310 North Argonne Road Spokane Valley,Washington 99212
Phone (509) 353-0358 or(509) 353-5665
www.watrust.com
Washington Trust Bank j
BANK: Washington Trust Bank
ADDRESS: PO Box 2127
CITY,STATE,ZIP: Spokane,WA 99210-
PHONE: 509 353-58680
BANK REPRESENTATIVE:
NAME: l l /A n L
TITLE: ja,./J—L 3,
State of Washington )
)ss
County of Spokane )
I certify that I know or have satisfactory evidence that Laurie Robinson is the person who appeared before me, and said
person acknowledged that(she) signed this instrument, on oath stated that(she)was authorized to execute the instrument
and acknowledged it as Assistant Branch Manager of Washington Trust Bank) to be the free and voluntary act of such
party for e uses and purposes mentioned in the instrument.
Dated fJ
Public -
State of Washington NotaryPublic in and
Deborah A Green
Commission Expires 05-03-18 for the State of Washington. I j
My Appointment Expires: 5(3//6
DATED this J day of ,20 /1
DEVELOPER f
ADDRESS: E. /1/Z5. (7 U
CITY,STATE,ZIP: c < k.\.i Fa f a• �''Q- ! o:3
PHONE: S� I— '?-2. �3u/(-1
State of Washington )
)ss
County of Spokane )
I certify that I know or have satisfactory evidence that(name of person) is the person who appeared before me, and said
person acknowledged that (he/she) signed this instrument, on oath stated that (he/she) was authorized to execute the
instrument and acknowledged it as the (type of authority, e.g., officer,trustee, etc.)of(name of party on behalf of whom
instrument was executed) to be the free and voluntary act of such party for the uses and purposes mentioned in the
instrument.
�? �� ' /
Dated - 1 .
y..
Lcu
Notary Public146 • Public in and
State of Washington for the State of Washington.
Laurie D RobExpires
on
My Appointment Expires: • f S• /
Commission Expires 05-18-19
Washingto ter 310 North Argonne Road Spokane Valley,Washington 99212
Phone(509) 353-0358 or (509) 353-5665
www.watrust.com