Laserfiche WebLink
EXHIBIT A <br /> ESCROW DEPOSIT AGREEMENT <br /> CITY OF EVERETT, WASHINGTON <br /> LIMITED TAX GENERAL OBLIGATION REFUNDING BONDS, 2012 <br /> THIS ESCROW AGREEMENT, dated as of October_, 2012 (herein, together with any <br /> amendments or supplements hereto, called the "Agreement") is entered into by and between the <br /> City of Everett, Washington (herein called the "City") and <br /> as escrow agent (herein, together with any successor in such <br /> capacity, called the "Escrow Agent"). The notice addresses of the City and the Escrow Agent are <br /> shown on Exhibit A attached hereto and made a part hereof. <br /> WITNESSETH : <br /> WHEREAS, the City heretofore has issued and there presently remain outstanding the <br /> obligations described in Exhibit B attached hereto (the"Refunded Bonds"); and <br /> WHEREAS, pursuant to Ordinance No. passed on September 5, 2012 (the "Bond <br /> Ordinance"), the City has determined to issue its Limited Tax General Obligation Refunding <br /> Bonds, 2012 (the"Bonds"); and <br /> WHEREAS, the proceeds of the Bonds are being used for the purpose of providing funds <br /> to pay the costs of refunding the Refunded Bonds; and <br /> WHEREAS, simultaneously herewith, the City is entering into a Cost of Issuance <br /> Agreement with the Escrow Agent to provide for the payment of costs of issuance relating to the <br /> Bonds; and <br /> WHEREAS, pursuant to the Bond Ordinance, the Refunded Bonds have been designated <br /> for redemption prior to their scheduled maturity dates and, after provision is made for such <br /> redemption, the Refunded Bonds will come due in such years, bear interest at such rates, and be <br /> payable at such times and in such amounts as are set forth in Exhibit C attached hereto and made <br /> a part hereof; and <br /> WHEREAS, when Escrowed Securities have been deposited with the Escrow Agent for <br /> the payment of all principal and interest of the Refunded Bonds when due, then the Refunded <br /> Bonds shall no longer be regarded as outstanding except for the purpose of receiving payment <br /> from the funds provided for such purpose; and <br /> WHEREAS, the issuance, sale, and delivery of the Bonds have been duly authorized to be <br /> issued, sold, and delivered for the purpose of obtaining the funds required to provide for the <br /> payment of the principal of, interest on and redemption premium (if any) on the Refunded Bonds <br /> when due as shown on Exhibit C attached hereto; <br /> A-1 P:\20287 CMVV120287 9RD 5/4/2012 <br />