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RESOLUTION NO. 2007-039 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, DECLARING DEFAULT BY BEAZER <br />HOMES CORPORATION, UNDER THE TERMS OF <br />THE CONTRACT FOR INSTALLATION AND <br />WARRANTY OF LIVE OAKS, AS MODIFIED, AND <br />AUTHORIZING STAFF TO MAKE SIGHT DRAFT <br />AGAINST SUNTRUST BANK IRREVOCABLE <br />LETTER OF CREDIT NO. ATL/P600979 AND <br />AMENDMENT NOS. 001 AND 002. <br />WHEREAS, on May 2, 2000 the Board of County Commissioners of <br />Indian River County approved a Contract for Installation and Warranty of Live <br />Oaks No. SD -99 -07 -10 -LO (99030155-002) and a Modification relating to Island <br />Club Riverside Phase IV Subdivision; and <br />WHEREAS, that contract required Beazer Homes Corporation to fulfill <br />certain obligations to be performed until May 2, 2006; and <br />WHEREAS, on April 4, 2006 the Board of County Commissioners agreed <br />to allow Beazer Homes Corporation to extend the letter of credit for one year and <br />the letter of credit was extended to May 2, 2007; and <br />WHEREAS, Beazer Homes Corporation has failed to guarantee <br />performance as required under the contract, as modified, particularly with <br />reference to Section 9 as follows: <br />• Failed to monitor and maintain the health of trees as required by the <br />contract in order for the trees to adjust to the shock of transplanting. <br />• Failed to document the health of the trees by not providing the County <br />with comparison photographs of each oak tree taken from 4 compass <br />points due the same month every year after the spring leaf flush. <br />• Failed to provide the annual report from a competent, certified arborist <br />documenting the health status of each of the 5 live oak trees on site; <br />