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Y <br />RESOLUTION NO. 2004- QA <br />1. That pursuant to the Contract for Construction of Requirement <br />Improvements, as modified, between M -R Homes, Ltd. and Indian River <br />County, relating to Seasons, P.D. which contract is numbered No. PD -01 -08 -18 - <br />CFC (99110063-26994), M -R Homes, Ltd. has defaulted under the terms of the <br />aforementioned Contract for Construction of Required Improvements and <br />Modification, and that the amount of the draft represents the amount required by <br />the County to fulfill the performance of said Contract for the Construction of <br />Required Improvements as modified. <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 May 12, 2004. <br />The resolution was moved for adoption by Commissioner Neuberger, and <br />the motion was seconded by Commissioner Lowther , and, upon being put to <br />a vote, the vote was as follows: <br />Chairman Caroline D. Ginn Aye <br />Vice Chairman Arthur R. Neuberger Ace <br />Commissioner Fran B. Adams Aye <br />Commissioner Thomas S. Lowther Ayp <br />Commissioner Kenneth R. Macht AVe- <br />2 <br />FAattorney\nancy\DOCS\RES\Reso calling seasons loc2004.doc <br />