Everett Public Facilities District 8/23/2018

Inspecting Engineer has the meaning given such term in Section 2.02(e) of this Agreement. Inspection Report has the meaning given such term in Section 2.02(e) of this Agreement. Interest Payment Date means each date on which a payment of interest on the 2018 Bonds is due and payable. LSTI Revenues means Taxes, the Annual Contribution, City Hotel/Motel Tax Contribution, Project Interlocal Agreement Revenues, and any interest earnings thereon. Moody's means Moody's Investors Service, its successors and their assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, Moody's shall be deemed to refer to any other nationally recognized securities rating agency (other than S&P and Fitch) designated by the Treasurer. Operation and Maintenance Expenses mean, for any period, all ordinary operating expenses of the District incurred for the operation and maintenance of the Events Center, as determined in accordance with generally accepted accounting principles, but excluding depreciation. Principal Payment Date means each date on which a payment of principal of the 2018 Bonds is due and payable, whether at maturity or upon a mandatory redemption date. Project Interlocal Agreement means the Interlocal Agreement, dated December 20, 2001, among the City, the Snohomish County Public Facilities District, Snohomish County and the District, as amended by Addendum No. 1, dated February 25, 2009, and as the same may hereafter be amended. Project Interlocal Agreement Revenues means the proceeds of the sales and use tax imposed by Snohomish County Public Facility District pursuant to RCW 82.14.390, and received by the District from the Snohomish County Public Facilities District pursuant to the Project Interlocal Agreement. Projected Net Tax Revenues means Taxes projected by the District to be received during a fiscal year of the District; provided, however, Projected Net Tax Revenues may not be greater than one hundred percent (100%) of the actual Taxes received by the District in the prior fiscal year. Qualified Insurance means any non-cancelable municipal bond insurance policy or surety bond issued by any insurance company licensed to conduct an insurance business in any state of the United States (or by a service corporation acting on behalf of one or more such insurance companies) which insurance company or companies, as of the time of issuance of such policy or surety bond, are currently rated in one of the two highest Rating Categories by any Rating Agency. -5- 501534419 v3