PLN200200033-1003212/ 09/ 2,,102
FROM :CITY OF
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09:47 28r '46-9355 MICHAELSON CORP PAGE 02
PLN a00a 00033-03 a
Dec. 03 2002 09 : 56t�M P2
EDMONDS-ENGINEERING FAX NO. :425-672-5750 _ _ �
•.L. IV
Frozra Fund poettd
Fund
Fund
�
CITE' OF EDMOND�S,»r.�o.FaX��g��»����
1215 PH Av£NU6 po6tT W + rD>�1cr+GS� 1NA
Pianni gQM6uiid SERVICES
Eng neeEr �gRTMENT
Edmonds Building permit No. _. 5 — � Y�
Prgject Address--iz L L
r!i s+���1 9 t..�_ .1AA I7rr. 01.
With refnoce to the above identifled project, this wig certify bract this innshafon bowled, nIn
account (or loam) fat the above-cfrcrenced developer/OvnW for the Prodact
' o
ceidotation of the permitted development of the property, and. in lieu of a perfbnnanco bond, this
institution herby Weer fat it willRunthe suns of money for the indicated site improvesrme=
pen authorizadnn for release of said tlmds by the City of Edmonds in the Amount of
The total sum indicated will be withheld by this institution &am any disbursements of any land
until written acuthotfzation has beer received by the institution from the City of Edmonds to mlene the
stun of money indicted by the written auMorizstion from the City.
The design, locatiO2%, materials and other specifications for the indicated site improvem,enke are
those required by rile City of Edmonds andd appear in the above-refemwed Edmonds building permit
file and are in cornpliawc: with the Edmonds Community Developn'Ment Code of said City.
In the event the 0Wr=ydcvel0p= fails to complete the indicated imFovarents within
L2 months, (not to noeed 24 months) the City of Edmonds may demand,
and ft institution shall make, payment to tho City of said funds so that the improvements can be
irgtood or catnpletad immediately to City standards, The institution shall not be liable to the owner
for any disbumement of said t4nds to the City of Edmonds.
It is hereby specifically agreed by and between the parties h=ta that in the event that arty legal
action must be taken to enforce the provisions of this aft ar to collect said fro'ren fad, that the
pma�ling p&qy shall be entitled to collect its cost and reasonable attorneys' lees as a part of the
rfmonlble caster of seatring the obUgation hereunder. In the eventof settlement or resolution of thfte
issues, Prior to the filing of wry suit, the Actual costs incurred by the City, including m2sanabla
awned' lhes„ shall be considered a part of the obligation hereunder secured. Said costs and
reasonable legal fees shall be recoverable by the prcvaeiliag party, not only loom the proceeds of 11vs
frozen #bird account, but also rarer and above said body as a part of any recovery in azty judicial
proceeding, innddition to recovery of the llttt&.
L W*ffix=Jt9V99
12/09i2002 09,47 206-546-9355 MICHAELSON CORP PAGE 03
FROM :CITY OF EDK !NESRM FAX NO. :425-67-e-5(50
Dec. 302 09;57AM P3
City of Vmnda pert natwcc Frozen Fund Account
Page Two
Donald G Sweaze
Shoreline Bank Owner/Developer
Finanoi l Institution
Dawn Green Bus. BkgMona er
oioer� l�tie 'title
PO Box 7129 Shoreline 98133 117�92211LLainden Ave . Shoreline 98177
Mailing Ads
179004189 206 533-6038
----.,_._,._ Telepirone .
Accepted bY Development Service TeChnioian Ante
STATE OF WASH NGTON )
ss
COUNTY OF )
on this 7 th do of
January 2003befom me,1E
undersigned. a Notary Public in and for the State of Washington, duly commissioned and sw=
p«sonally appeared Dawn Green to me kamm to be the Bus. Bnk Spec
of ShQrelin BBank the corporation that exwvwd tha tbmBofs "� awl
ocknovviedged the said instnanent to be the &a and voluntary act and deed of sand corporation, for the
uses and purposes therein mentioned, and on oath stated that She wsa
authorized to execute said inaftment and that the seat affixed is the corporate seal of said corporation.
��Ft itiay hand and official seal here affixed the day and year first above written.
—A +� NOTARY PUBLIC in and
State of Washington, residing
at
titS'�A OF�pr'
),:eemp:bld®:fammJlB�
12(09/2402 09:47 _ 206-546-9355 MIGK4ELSUN UORP PAGE 04
• Dec. 2M 09.57AM P4
FROM :CITY OF EDMOND_ .�1hlE:Fa2T� Fq�` NO. :425-672^s?�
City of Edmonds pm{ormattce Fraxan Fund Account
Page Thm
STATE OF WASHINGTON )
ss.
COUNTY OF )
On this 7 th day of Januar 2003 , boron me, the undc-sigwd,
a Notary Public nand for the State of WwVnputt, duly c=n 9ssiattcd end Swam, t�o0y
Donald G . Sweazey._ to tna known w be ttte. Manager of
Gas ton E general Parta=sbiP that exeC1Nd the fore
inW=eat, and atkwwledged the said iestrument to be the $ee and vohu"y aot and deed of said
pUWersbip, for the uses and purposes thcreln mcntioned, and on oath stated that
he was anthorizod to execute said instrument.
Wx'pNMS my hand and official SW hereto WEXOd the day Rd year first above written.
p R Gq 1 i NOTARY PUBLIC in and for the S of
�'�\ON Ek:p ot� Wa binHton. n .at (, Ab
,0 f-Q p RY
n� O
Ott' S, 9.3� o��®
t����OFVJP�C'
I..met, bk�*aW "
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Time Certificate of Deposi-�
Financial Institution: Shoreline Bank, Main
18350 Midvale Ave N, Shoreline, WA 98133 Number:
Account Name: GASTON ENTERPRISES LLC SSNrrIN: 53-2249226
BUSINESS TYPE: Limited Liability Company
Account Number
Issue Date
Deposit Amount
Term
Maturity Date
179004189
January 7, 2003
$77,405.00
6 Months
July 7, 2003
Rate Information: This Account is an interest bearing account. The interest rate on the account is 1.74% with an annual percentage yield of
1.75%.
The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be In effect until July 7, 2003.
Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded monthly and will
be credited monthly. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Balance Information: We use the daily _.,ce method to calculate the interest on the account. This nn6ihod applies a daily periodic rate to
the principal in the account each day. We will use an interest accrual basis of 365 for each day in the year.
Limitations: You must deposit $500.00 to open this account. You may not make additional deposits into this account. You may not make
withdrawals from your account until the maturity date.
Time Account Information: Your account will mature on July 7, 2003. If you withdraw any of the principal before the maturity date, we will
impose a penalty of 30 days of interest. If the account is closed before interest is credited, you will not receive the accrued interest. This
account will automatically renew. You will have 10 days. after the maturity date to withdraw funds without penalty.
Member
Signa and Title of Authorized Financial Ins titutionSigner
NON TRANSFERABLE -NON NEGOTIABLE
FDIC
%�: 7 �� `�—
c
i
TIME DEPOSIT AGREEMENT - 6 MONTH CERTIFICATE -"OF DEPOSIT
We appreciate your decision to open a time deposit account with us. This Agreement sets forth certain conditions, rates, and rules that are specific to
your Account. Each signer acknowledges that the Account Holder named has placed on deposit with the Financial Institution the Deposit Amount
Indicated, and has agreed to keep the funds on deposit until the Maturity Date. As used In this Agreement, the words "you", "your" or "yours" mean
the Account Holder(s), the word "Account" means this Time Deposit Account and the word "Agreement" means this Time Deposit Agreement, and the
words "we", "us" and "our" mean the Financial Institution. This Account is effective as of the Issue Date and is valid as of the date we receive credit
for noncash items (such as checks drawn on other financial institutions) deposited to open the Account. Deposits of foreign currency will be
converted to U.S. funds as of the date of deposit and will be reflected as such on our records.
INTEREST RATE. The interest rate is the annual rate of interest paid on the Account which does not reflect compounding ("Interest Rate"), and is
based upon the interest accrual basis described above.
AUTOMATIC RENEWAL POLICY. If the Account will automatically renew as described above, the principal amount and all paid earned interest that
has not been withdrawn will automatically renew on each Maturity Date for an identical period of time as the original deposit term. Interest on
renewed accounts will be calculated at the interest rate then in effect for time deposits of that Deposit Amount and term. If you wish to withdraw
funds from your Account, you must notify us during the grace period after the Maturity Date.
EARLY WITHDRAWAL PENALTY. You have agreed to keep the funds on deposit until the Maturity Date nf your Account. Any withdrawal of all or
part of the funds from your Account prior to maturity may result in an early withdrawal penalty. We will consider requests for early withdrawal and, if
granted, the penalty as specified above will apply.
Minimum Required Penalty. If you withdraw money within six (6) days after the date of deposit, the Minimum Required penalty is seven (7)
days' simple interest on the withdrawn funds. If partial early withdrawal(s) are permitted, we are required to impose the Minimum Required Penalty
on the amount(s) withdrawn within six (6) days after each partial withdrawal. The early withdrawal penalty may be more than the Minimum Required
Penalty. You pay the early withdrawal penalty by forfeiting part of the accrued interest on the Account. If your Account has not earned enough
interest, or If the interest has been paid, we take the difference from the principal amount of your Account.
Exceptions. We may let you withdraw money from your Account before the Maturity Date without an early withdrawal penalty: (1) when one
or more of you dies or is determined legally incompetent by a court or other administrative body of competent jurisdiction; or (2) when the Account is
an Individual Retirement Account (IRA) established In accordance with 26 USC 408 and the money Is paid within seven (7) days after the Account is
opened; or (3) when the Account is a Keogh Plan (Keggh), if you forfeit at least the interest earned on the withdrawn fundds; or (4) if the Account is
an IRA or a Keogh Plan established pursuant to 26 USC 408 or 26 USC 401, when you reach age 59 1/2 or become disabled; or (5) within an
applicable grace period (if any).
RIGHT OF SETOFF. Subject to applicable law, we may exercise our right of setoff or security interest against any and all of your Accounts (except
IRA, Keogh plan and Trust Accounts) without notice, for any liability or debt of any of you, whether joint or Individual, whether direct or contingent,
whether now or hereafter existing, and whether arising from overdrafts, endorsements, guarantees, loans, attachments, garnishments, levies,
attorneys' fees, or other obligations. If the Account is a joint or multiple -party account, each joint or multiple -party account holder authorizes us to
exercise our right of setoff against any and all Accounts of each Account Holder,
OTHER ACCOUNT RULES. The following rules also apply to the Account.
Surrender of Instrument. We may require you to endorse and surrender this Agreement to us when you withdraw funds, transfer or close
your Account. If you lose this Agreement, you agree to sign any affidavit of lost instrument, or other Agreement we may require, and agree to hold us
harmless from liability, prior to our honoring your withdrawal or request.
Death of Account Holder. Each Account Holder agrees to notify us immediately upon the death of any other Account Holder. You agree that
we may hold the funds in your Account until we have received all required documentation and instructions.
Indemnity. If you ask us to follow instructions that we believe might expose us to any claim, liability or damages, we may refuse to follow your
instructions or may require a bond or other protection, including your agreement to indemnify us.
Pledge. You agree not to pledge your Account without our prior consent. You may not withdraw funds from your Account until all obligations
secured by your Account are satisfied.
DEPOSIT PRO, Vo, 6.S000.= C., Rerinntl Flnsn l nc. 19%, 2M3 All R.ynts R,,., t WA WA S\GSSB11\CFI\TISLM TR-1659
Customer Copy
10/25/2002 12:50 7r- -46-9355 MICHAELSON CORP PAGE 02
KR =NT 42S 402 4799 1mlZ 04:01PTn P. 001
19707 Filbert Road
Bothell, WA 98012
(425) 487-1360
(425) 4024796 Fax
oil
Project: 4 Lot Short Plat for Michaelson Corp. on Edmonds Way
Attn: Mike Sweam
Date: 10/24/02
Telepho;ne:206 226-8900
e of work to be gerf-0rmed•
glearigiz G diha Wd haul off* -
__-S7500.00
e-TD1> v ,
52011t. + of - Silt a ce---
C nstruction
Storm System Complete---
Water for 4 lots less mete & settees by city
c2.360 00
'
� aV ws1�
Sewer for AbOs with
'1601
of curb and ftter—
160' off sidewplk-.••..-...,—___._�.....-...�_.
c control nd virmping of, sub a aid gravel---S3.80Q.0Q
Gradint=- and paving _S1E5,QQ0.00
Exelusion: _ Lej*b. bond s&ldn& survey poil testbff a d =ks tax
ct: $74,264.00
KR Construction Date Customer sipature Date �G
, DATE SENT Q e4l 9- V l0 `/-
BOND RELEASE FORM
CITY OF EDMONDS
TO: ['ENGINEERING DIVISION
❑ PLANNING DIVISION
FROM: CONNI CURTIS, ADMINISTRATIVE ASSISTANT
IDENTIFICATION NUMBER (Plat, ADB, Permit)
PROJECT ADDRESS
V,
DEVELOPER/CONTRACTOR
TYPE OF BOND TO BE RELEASED D "TGL $ %-7 Vd�
DATE BOND POSTED
k3 BOND EXPIRES
67L a&&66d ,
Please field -inspect the release of the subject bond. If there are outstanding
requirements, please note in the space provided. Failure to respond by the expiration
date constitutes approval by your division and automatic release of the bond.
1.
2.
3.
BOND APPROVED FOR RELEASE 1� DATED
Signature
BOND NOT APPROVED (SEE OUTSTANDING REQUIREMENTS)
WORK TO BE COMPLETED WITHIN
Copy to File
Copy to Developer/Contractor
DATED
DAYS. SUSPENDED TO: / _/
CADocuments and Settings\Curtis\My Documents\Engsec\BONDS\FORMS\BNDRLSFM.DOC
June 23, 2005
RECEIVED
JUN 2 4 2005
ENGINEERING DIVISION
Engineering Department
City of Edmonds
121 5th Avenue
Edmonds, WA 98020
To Whom It May Concern:
This letter is in regards to the property located at 9530 Edmonds Way. Gaston Enterprises
has completed the boundary line adjustment recording number 200506225428 that was
required to release the performance bond that was originally posted for the four lot
subdivision, with that said Gaston Enterprises is now requesting to have the bond
released as soon as possible. Any questions please call Shaun Leiser at 206-229-6038 or
email, Shaun@sclenterprises.net.
Sincerely,
5& ,
Shaun Leiser
Gaston Enterprises LLC
I'll c.189"1
CITY OF EDMONDS
121 5TH AVENUE NORTH • EDMONDS. WA 98020 • (425) 771-0220 • FAX (425) 771-0221
Website: www.d.edmonds.wa.us
DEVELOPMENT SERVICES DEPARTMENT
Planning • Building • Engineering
July 12, 2005
Shoreline Bank
PO Box 7129
Shoreline, WA 98133
RE: Gaston Enterprises Short Plat
9530 Edmonds Way
Performance Frozen Fund No. #179004189
GARY HAAKENSON
MAYOR
The City of Edmonds hereby authorizes the release of the above -referenced Performance
Frozen Fund account in the amount of $77,405. All interested City divisions have
approved release of the bond.
If there are any questions, contact me at 425-771-0220.
Thank you.
CONNI CURTIS
Administrative Assistant
C: Gaston Enterprises, LLC
17921 Linden Avenue North
Shoreline, WA 98177
CADocuments and Settings\Curtisft Documents\Engsec\BONDS\FORMS\Prfi'rzfnd.WithoutMaintenance.doc
• Incorporated August 11, 1890 0