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. r <br /> M <br /> RESOLUTION NO. 2006- 071 <br /> 1. That DILECO DEVELOPMENT, LLC has defaulted under the terms <br /> of the aforementioned Contract for Construction of Required Improvements, as <br /> modified. <br /> 2. The amount of the draft represents the amount required by the <br /> County to fulfill the performance of said Contract for Construction of Required <br /> Improvements, as modified. <br /> 3. Office of Management and Budget is directed to present a sight <br /> draft in the amount of $582,375.02 marked "DRAWN ON IRREVOCABLE <br /> LETTER OF CREDIT NO. 2004-20 OF FIRST NATIONAL BANK AND TRUST <br /> COMPANY OF THE TREASURE COAST" to First National Bank and Trust <br /> Company of the Treasure Coast, 3730 7th Terrace, Vero Beach, FL 32960 on or <br /> before June 5, 2006. <br /> The resolution was moved for adoption by Commissioner wheel er , and <br /> the motion was seconded by Commissioner Davis , and, upon being put to <br /> a vote, the vote was as follows: <br /> Chairman Arthur R. Neubergerer Aye <br /> Vice Chairman Gary C. Wheeler Aye <br /> Commissioner Wesley S. Davis Aye <br /> Commissioner Thomas S. Lowther Aye <br /> Commissioner Sandra L. Bowden Aye <br /> 2 <br /> FAAttorney\Nancy\DOCS\RES\Reso calling oak hollow estates.doc <br />