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fund occurring in the lawful operation thereof by <br /> the city. The remedy of the holder or owner of <br /> this bond in case of nonpayment shall be confined <br /> to the enforcement of the assessments and to the <br /> guaranty fund. <br /> The City of Everett, a municipal corporation of the <br /> State of Washington, hereby promises to pay to bearer the <br /> sum of <br /> ONE THOUSAND DOLLARS <br /> in lawful money of the United States of America with interest <br /> thereon from the date hereof at the rate of 6 . 50% per annum <br /> payable annually, upon presentation and surrender to the <br /> City Treasurer of this bond and the annexed interest coupons <br /> as they severally become due. <br /> This bond is issued to pay for the sewer improvements <br /> ordered by Ordinance No. 201-72 and as to both principal and <br /> interest, is payable only out of Local Improvement District <br /> No. 694 Fund created by Ordinance No. 201-72 of the City <br /> adopted October 4, 1972 , and from the Local Improvement <br /> Guaranty Fund of the City created by Chapter 209, Laws of <br /> Washington, 1927. This bond is one of an issue of bonds <br /> aggregating in principal amount the sum of $86, 713. 77 , is <br /> payable on or before March 1, 1991, and is subject to call <br /> by the Treasurer of said City on any annual interest payment <br /> date whenever there shall be sufficient money in said Local <br /> Improvement District No. 694 Fund to pay the same and all <br /> unpaid bonds of this issue which are prior in numerical <br /> order to this bond, over and above an amount sufficient for <br /> the payment of the interest next coming due on the unpaid <br /> bonds of this local improvement district. <br /> In case this bond is called for payment before its <br /> final maturity, each and every interest coupon not accrued <br /> - 3 - <br />