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APPENDIX B <br /> Notice of Defeasance* <br /> City of Everett,Washington <br /> Limited Tax General Obligation and Refunding Bonds,2003 <br /> NOTICE IS HEREBY GIVEN to the owners of that portion of the above-captioned bonds <br /> with respect to which, pursuant to an Escrow Agreement dated October—, 2012, by and between <br /> City of Everett Washington (the "City") and <br /> (the "Escrow Agent"), the City has deposited into an escrow account, held by the Escrow Agent, <br /> cash and non-callable direct obligations of the United States of America, the principal of and <br /> interest on which, when due, will provide money sufficient to pay each year, to and including the <br /> respective maturity or redemption dates of such bonds so provided for, the principal thereof and <br /> interest thereon (the "Defeased Bonds"). Such Defeased Bonds are therefore deemed to be no <br /> longer outstanding pursuant to the provisions of Ordinance No. 2663-02 of the City, authorizing <br /> the issuance of the Defeased Bonds, but will be paid by application of the assets of such escrow <br /> account. <br /> The Defeased Bonds are described as follows: <br /> Limited Tax General Obligation and Refunding Bonds, 2003 (Dated January 1, 2003) <br /> Maturity Years Principal CUSIP Call Date <br /> (December 1) Amounts Interest Rates Nos. (@ 100%) <br /> 2013 $ 600,000 4.000% 300011LT8 12/01/2012 <br /> 2014 600,000 4.500 300011LU5 12/01/2012 <br /> 2015 750,000 4.500 300011LV3 12/01/2012 <br /> 2016 500,000 4.625 300011LW1 12/01/2012 <br /> 2017 500,000 4.625 300011LX9 12/01/2012 <br /> 2018 600,000 4.500 300011LY7 12/01/2012 <br /> 2019 800,000 4.625 300011LZ4 12/01/2012 <br /> 2020 2,000,000 5.000 300011MA8 12/01/2012 <br /> 2021 2,500,000 5.000 300011MB6 12/01/2012 <br /> 2022 2,000,000 5.000 300011MC4 12/01/2012 <br /> 2027 3,600,000 5.000 300011MH3 12/01/2012 <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; Moody's Ratings Services, New York, New York, Banc of America Securities LLC., <br /> National Public Finance Guarantee Corp. (formerly MBIA Insurance Corporation) and to the Municipal Securities <br /> Rulemaking Board. <br /> Page 1—Appendix B P:\20287_CMVN20287_9RD 5/4/2012 <br />