SSLM Properties LLC 9/13/2017 Amendment 7

EXHIBIT B FORM OF RELEASE RELEASE BY SMITH STREET MILL THIS RELEASE is by Smith Street Mill, Inc., a Washington corporation, and James Buse, Robert Buse, and Dwayne Buse, the shareholders of Smith Street Mill, Inc.; Smith Street Properties No. 1, LLC, a Washington limited liability company; Smith Street Properties No. 2, LLC, a Washington limited liability company; and Smith Street Properties No. 3, LLC, a Washington limited liability company(collectively referred to hereinafter as"Smith Street Mill"). RECITALS WHEREAS, Smith Street Mill owned certain real property located in Everett, Washington. Smith Street Mill sold this property to SSLM Properties,LLC ("SSLM Properties") in 2014. WHEREAS, on or about June 29,2016 SSLM Properties entered into a Real Estate Purchase and Sale Agreement for the sale of the property to the City of Everett(such agreement as amended, the"City Purchase Agreement";the property to be sold under such agreement,the"Property). WHEREAS, on or about April 12, 2017, Smith Street Mill initiated non judicial foreclosure proceedings against SSLM Properties. WHEREAS, on or about April 18, 2017, SSLM Properties filed a complaint against Smith Street Mill relating to the Property in Snohomish County Superior Court case number 17-2-03790- 31,in which Smith Street Mill has filed counterclaims(such lawsuit and all claims and counterclaims therein,the"Lawsuit"). WHEREAS,the Smith Street Mill desires SSLM Properties and the City of Everett to proceed with the closing of the sale of the Property to the City. The closing of this transaction will benefit Smith Street Mill because proceeds from the transaction will be deposited into the court registry, as set forth in the City Purchase Agreement. WHEREAS, the City has indicated that it is willing to proceed to closing of the sale of the Property, so long as the City has assurance that the dispute between SSLM Properties and Smith Street Mill will not"spill over"to the City. Accordingly, Smith Street Mill is tendering this release to the City as part of the closing of the sale of the Property to the City. RELEASE Smith Street Mill hereby releases and fully and forever discharges the City of Everett and the City of Everett's officers, employees and agents from any and all claims, demands, debts, guarantees, liabilities, obligations, liens, general, special or consequential damages, losses, or potential losses,through any and all actions or causes of action of any nature whatsoever, Exhibit B 107880 100 gn064N3gg.004