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EVERETT <br /> WASHINGTON <br /> Lexon Insurance Company <br /> 12890 Lebanon Rd. <br /> Mount Juliet,TN 37122 <br /> Re: Bond#LICX1177353(the "New Bond"), with Riverfront Commercial <br /> Investment L.L.C. as Principal <br /> To Whom It May Concern: <br /> The New Bond states as follows: <br /> IT IS FURTHER DECLARED AND AGREED that the City, as set forth in the <br /> Agreement,will allow Principal to reduce the amount of this bond to the <br /> New Bond Reduced Amount upon Main Road Completion; provided, <br /> however,that such reduction is only effective upon the Surety's receipt of a <br /> letter signed by the Mayor of the City and notarized,stating the New Bond <br /> Reduced Amount. <br /> By this letter,the City authorizes and allows the Principal to reduce the amount <br /> of the New Bond to the New Bond Reduced Amount. The New Bond Reduced <br /> Amount is: two million nine hundred seventy thousand dollars($2,970,000). <br /> Capitalized terms in this letter have the same meaning as set forth in the New <br /> Bond. <br /> Sincerely, <br /> Cassie Franklin <br /> Mayor,City of Everett <br /> Office of the Mayor <br /> CASSIE FRANKLIN <br /> Q2930 Wetmore Ave.,Ste.10-A <br /> Everett,WA 98201 <br /> 0 425.257.7115 <br /> 425.257.8729 fax �+ <br /> everettwa.gov <br /> 4 <br /> City Clerk <br />