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I <br />Honorable Chairman and Members of the <br />Board of County Commissioners of <br />Indian River County, Florida <br />Page 3 <br />September 21, 1977 <br />6. William R. Hough & Co. agrees to supervise the printing of the Bonds and <br />the Officialtatement and arrange for the bond closing. Delivery of the <br />Bonds by the shall be made in New York, New York or at such other mutually <br />agreeable place within 90 days from the acceptance of this offer, unless such <br />time limit is extended by mutual agreement. <br />7. The County agrees to pay for the printing of the bonds, printing and <br />distribution of the Official Statement, filing costs for validation, the fee <br />of bond counsel, and the fee of the County Attorney. <br />8. As evidence of our good faith in making this proposal, we enclose our <br />check in the amount of $18,150 made payable to the Board of County Commissioners <br />of Indian River County, Florida. This check shall be held uncashed until the <br />bond closing at which time the proceeds of said check shall be applied to the <br />purchase price of the Bonds. In the event William R. Hough & Co. fails to <br />perform under the terms of this agreement, the $18,150 good -faith check shall <br />be retained by the County as full and liquidating damages. In the event the <br />County is unable to deliver the Bonds within 90 days from the date of acceptance <br />of this offer or within such extended period mutually agreed upon, then said <br />good -faith deposit shall be returned to William R. Hough & Co. and this agree- <br />ment shall be deemed null and void. If this proposal is not accepted, said <br />check is to be returned to us forthwith. <br />8. This proposal is for acceptance by 5 p.m. September 21, 1977. <br />Very truly yours, <br />WI R. HOUGH & CO. <br />eorge T. Bland <br />Partner <br />ACCEPTED BY: <br />INDIAN RIVER COUNTY, FLORIDA <br />/� ( <br />_X46,on C Ivele'94 <br />ATTEST: <br />P 211977 <br />a <br />