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APPENDIX B-2
<br /> Notice of Defeasance*
<br /> City of Everett, Washington
<br /> Water and Sewer Revenue Bonds,2005
<br /> NOTICE IS HEREBY GIVEN to the owners of that portion of the above-captioned
<br /> bonds with respect to which, pursuant to an Escrow Agreement dated February_, 2013, by and
<br /> between City of Everett Washington (the "City") and U.S. Bank National Association, Seattle,
<br /> Washington (the "Escrow Agent"), the City has deposited into an escrow account, held by the
<br /> Escrow Agent, cash and non-callable direct obligations of the United States of America, the
<br /> principal of and interest on which, when due, will provide money sufficient to pay each year, to
<br /> and including the respective maturity or redemption dates of such bonds so provided for, the
<br /> principal thereof and interest thereon (the "Defeased Bonds"). Such Defeased Bonds are
<br /> therefore deemed to be no longer outstanding pursuant to the provisions of Ordinance
<br /> No. 2870-05 of the City, authorizing the issuance of the Defeased Bonds, but will be paid by
<br /> application of the assets of such escrow account.
<br /> The Defeased Bonds are described as follows:
<br /> Water and Sewer Revenue Bonds, 2005 (Dated October 14, 2005)
<br /> Maturity Year Principal Interest CUSIP Call Date
<br /> (December 1) Amount Rate Nos. (@ 100%)
<br /> 2016 $ 990,000 5.00% 300060JL5 12/01/2015
<br /> 2017 1,045,000 5.00 300060JM3 12/01/2015
<br /> 2018 1,100,000 5.00 300060JN1 12/01/2015
<br /> 2019 1,150,000 5.00 300060JP6 12/01/2015
<br /> 2020 1,210,000 4.25 300060JQ4 12/01/2015
<br /> 2021 1,260,000 5.00 300060JR2 12/01/2015
<br /> 2022 1,325,000 4.25 300060JS0 12/01/2015
<br /> 2023 1,3 80,000 5.00 300060JT8 12/01/2015
<br /> 2024 1,450,000 5.00 300060JU5 12/01/2015
<br /> 2025 1,520,000 5.00 300060JV3 12/01/2015
<br /> 2026 1,595,000 4.50 300060JW1 12/01/2015
<br /> 2027 1,665,000 5.00 300060JX9 12/01/2015
<br /> 2029 10,540,000 5.00 300060JZ4 12/01/2015
<br /> 2030 5,670,000 4.50 300060KA7 12/01/2015
<br /> * This notice shall be given immediately by first class mail to each registered owner of the Defeased Bonds. In
<br /> addition notice shall be mailed to The Depository Trust Company of New York,New York; The Bank of New York
<br /> Mellon, as Fiscal Agent; Standard& Poor's Ratings Services, New York, New York, Banc of America Securities
<br /> LLC., National Public Finance Guarantee Corp. (formerly MBIA Insurance Corporation) and to the Municipal
<br /> Securities Rulemaking Board.
<br /> Appendix B-2 P:120287_CMW120287_9RC 01/02/13
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