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RESOLUTION NO. 2003- 052 <br />Seasons, P.D. which contract is numbered No. PD -01 -08 -18 -CFC (99110063- <br />26994), M -R Homes, Ltd. has defaulted under the terms of the aforementioned <br />Contract for Construction of Required Improvements, and that the amount of the <br />draft represents the amount required by the County to fulfill the performance of <br />said Contract for the Construction of Required Improvements. <br />2. Office of Management and Budget is directed to present this <br />Resolution together with a sight draft marked "DRAWN ON IRREVOCABLE <br />LETTER OF CREDIT NO. 3046140 OF BANK OF AMERICA, N.A." to the office <br />of Bank of America, N.A. Trade Operations, Miami Lakes Operations Center, <br />5875 NW 163rd Street, Hialeah, Florida 33014, on or before May12, 2003. <br />The resolution was moved for adoption by Commissioner Lowther , and <br />the motion was seconded by CommissionerNeuberger , and, upon being put to <br />a vote, the vote was as follows: <br />Chairman Kenneth R. Macht Aye <br />Vice Chairman Caroline D. Ginn Aye <br />Commissioner Fran B. Adams Ay <br />Commissioner Thomas S. Lowther Aye <br />Commissioner Arthur R. Neuberger Aye <br />The Chairman thereupon declared the resolution duly passed and <br />adopted this 6th day of May, 2003. <br />BOARD 9FZOUNTY COMMISSIONERS <br />INDIA RIVER COJNTY.,. FLORIDA <br />By /'> <br />u 4k�ue <br />'Deputy:Cier< <br />2 <br />F:W,ttorney\Nancy\DOCS\RES\Reso calling seasons loc.doc <br />eth R. , Chairman <br />