05-016.00 US Bank
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IRRE~VOCA.BI:.E ASSIGNVIEI~tT OF BL,OCK:I-: D ACCOLT~tT
L7ate: March 7, 2005
E;enelac.iar}~: Applicant:
City of Spokane. Valle}~ Name: `1`homas 1-lamilton
1 1707 F. Sprague; Ste. 106 Address: ~ N.U. 13ox 14680
Spokane Valley; OVA 99206 Spokane Valley, `'VA 99214
Phone: 924-7811
Attn: Steve ~VorleY
Pro,jeet # c~c Namc: i)ebtor's Mitigation A~.•eenient SR 2? (Pines Roacl)~i~~Iansfie.ld
Road Constructi.o» Ft:•oject [ 8 acros located on Fines Ro~icl, parcel numbea~
4102.9111].
Rloe.ked Accotuit Number: 100-20350-014
Expiry Taate: Upon release by RenefSciar}r.
Our Counters T'resently Located At: t.ichards, ~~errill ~. Peterson, Une Sky walk; U.S. Bank
Building, 422 ~V. Riverside Avenue
Spokane, «~A 99201-U367
~ltnount: $22,820.00
Not exceeding US 17ollars T~~~ent}~ `t'wo "l housand right 1-lundred 'Twenty laollars and I~io Cents.
1[crnizcd as follows:
Developer's contribution to the. Project for mitigation o1' future traffic impacts related to the
T~evelc~pment: Twenty "Two Thousand Eight Hundred T~weaity Taallars and 1\to Cents
This Page I fanny an integril part oPierca~ocablc assigmnent vl'blucked account 110-2U350-f-14
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Vde. hereb~~ agree to this irrevocable blocked account for Debtor's Nlitigatic~n A~n•eement SR
27 (Pines Road)ll7ansfield Road. ~iO115t1.'L1Ct1C)]l FrUjeCt [ $ acres located on Fines
Road; parcel number 45102.9J.:1.~,] ~u~d ~~~ill mal~c available within five (5) business da}~s
of our receipt oi'yUUr re•e~uest to us to disburse funds in accord~u~ee with said R~Iitigaiion
Agreement.
't'his Page 2 forms an integral part of irrcvocabb:, ~~ssignmcnt of blockut account I UU-203511-G14
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SPECIAL CONI~I"i ONS
1. Any and all brokerage charges are for the account ol~the beneliciary.
2. It is a condition of this irrevocable assignrrtent of blocked account that it shall be
automatically extended, withrxtt amendment; for ail additional period of one year from
the present expiration date or each future expiration date. A11 ~~Z-itten notif cation shall be
sent via rcgistc.red mail.
Requests for funds under this irrevocable assigmient of blocked account must bear the clause:
"Request for funds under Richards, Merrill ~~, Peterson irrevocable. assignment of blacked
account No. 1 UO-20350-U 14."
Vl~e hereby engage with You that requests for funds and/or documents presented a>i.~d negoi.iated
under and in compliance with the terms of this irrevocable assigtuncnt of blocked account will be
duly honored within 5 business days of presentation to us.
1"he amou~lt of each reduest for funds must be endorsed on the reverse of this irrevocable
assignment of blocked account by the Richards, Merrill & Peterst>n.
A charge of USIA X25.00 will b~, deducted from the proceeds of any request for funds presented
with discrepancies.
RTCHARDS. IvlLRR11.L & F'ETFRSON
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KtJR.T RTO\, Authorized Signatory
T -iO1~~1~.5 1- . Hr~vITLT0~1
Ibis ['aye 3 fornu tut integral part of irrevi~cable asSignmm~t of blocked account 100-2030-014