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RESOLUTION NO. 2007- 039 <br />and <br />WHEREAS, in order to guarantee performance of the contract, Beazer <br />Homes Corporation provided SunTrust Bank Irrevocable Letter of Credit No. <br />ATL/P600979 and Amendment Nos. 001 and 002 in the original amount of <br />$119,025.00, with a final expiration date of May 2, 2007. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />1. That Beazer Homes Corporation has defaulted under the terms of <br />the aforementioned Contract for Installation and Warranty of Live Oaks. <br />2. The amount of the draft represents the amount required by the <br />County to fulfill the performance of said Contract for Installation and Warranty of <br />Live Oaks. <br />3. Office of Management and Budget is directed to present this <br />Resolution accompanied by a sight draft in the amount of $119,025.00 marked <br />"Drawn on Irrevocable Letter of Credit No. ATL/P600979 of SunTrust Bank" to <br />SunTrust Bank, 2231 Indian River Boulevard, Vero Beach, Florida 32960, Attn: <br />Mike Sullivan, LOC Dept., ATL -3706 (340.8125) on or before May 2, 2007. <br />The resolution was moved for adoption by Commissioner Davis , and <br />the motion was seconded by Commissioner Bowden , and, upon being put to <br />a vote, the vote was as follows: <br />Chairman Gary C. Wheeler Aye <br />Vice Chairman Sandra L. Bowden Aye <br />Commissioner Wesley S. Davis Aye <br />Commissioner Joseph E. Flescher A� e <br />Commissioner Peter D. O'Bryan Aye <br />2 <br />F:\Attorney\Nancy\DOCS\RES\Reso calling re oak trees2.doc <br />