All bonds issued in pursuance of the provisions of this chapter shall be in substantially the following form:

LOCAL IMPROVEMENT BONDS, DISTRICT NO.
of the city of Everett, state of Washington.

No. ____________________________

N.B. This bond is issued by virtue of the provisions of the act of the legislature of the state of Washington, entitled “An act relating to local improvements in cities and towns, and repealing certain acts and parts of acts.” Approved March 17, 1911. Section 52 of which act reads as follows: “Neither the holder nor owner of any bond issued under the authority of this act shall have any claim therefor against the City by which the same is issued except from the special assessment made for the improvement for which such bond was issued, but his remedy in case of non-payment shall be confined to the enforcement of such assessment. A copy of this section shall be plainly written, printed or engraved on each bond so issued.”

Everett, a municipal corporation of the state of Washington hereby promises to pay to ________ or bearer $_____ lawful money of the United States, with interest thereon at the rate of ___ percent per annum, payable annually out of the fund established by Ordinance No. ____ of said city and known as local improvement fund district No. ___ of Everett, and not otherwise. Both principal and interest payable at the offices of the city treasurer of said city. A coupon is hereto attached for each installment of interest to accrue thereon, and said interest shall be paid only on presentation and surrender of such coupon to the city treasurer, but in case this bond is called for payment before its maturity each and every coupon representing interest not accrued at the time this bond is payable under such call shall be void. This bond is payable on or before the ____ day of _______, 19___ and is subject to call by the city treasurer of said city whenever there shall be sufficient money in said local improvement fund to pay the same, and all unpaid bonds of the series of which this bond is one, which are prior to this bond in numerical order, over and above sufficient for the payment of interest on all unpaid bonds of said series. The city council of said city as the agent of said local improvement district No. ___ established by Ordinance No. ___ has caused this bond to be issued in the name of said city as the bond of said local improvement district, the bond or the proceeds thereof to be applied in part payment of so much of the cost and expense of the improvement of ________ under said Ordinance No. ___ as is levied and assessed against the property included in said local improvement district and benefited by said improvement, and the said local improvement fund district No. ___ of Everett has been established for said purpose, and the holder or holders of this bond shall look only to said fund for the payment of either the principal or interest of this bond. A call for payment of this bond, or of any bond of the series of which this is one, shall be made by the city treasurer by publishing the same in the city official newspaper of such city, and when such call is made for the payment of this bond it will be paid on the day next interest coupon thereon shall become due after said call, and upon said day interest upon this bond shall cease. This bond is one of a series of ___ bonds aggregating in all the principal sum of $____ issued for said local improvement district, all of which bonds are subject to the same terms and conditions as herein expressed.

IN WITNESS WHEREOF the city of Everett has caused these presents to be signed by its mayor and attested by its clerk and sealed with its corporate seal this ____ day of ________ in the year of our Lord one thousand nine hundred and ____.

EVERETT
By______________________Mayor
Attest: __________________________
City Clerk.

(SEAL)

COUPONS—NUMBER AND FORM: There shall be attached to each bond such number of coupons, not exceeding ten, as shall be required to represent the interest thereon payable annually for the term of said bonds, which coupons shall be in substantially the following form: ________

No. ________ $______

On the ____ day of __________ Everett promises to pay to the bearer at the office of the city treasurer $____ being one year’s interest due that day on bond No. ____ of the bonds of local improvement fund, district No. ____ of Everett, and not otherwise, provided, that this coupon is subject to all the terms and conditions in the bond to which it is annexed, and if said bond be called for payment before maturity hereof then this coupon shall be void.