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RESOLUTION N0.2012-119 <br />standby letter of credit, and customer does. not provide acceptable alternative <br />security, the County shall have the right to drawn on the letter of credit, <br />notwithstandinU the lack of non-compliance with County ordinance; and <br />WHEREAS, Range Road Mine, LLC has not provided acceptable <br />alternaIive security, <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: <br />1. That Range Road Mine, LLC (applicant) has defaulted under the <br />terms or conditions of Indian River County Ordinance 934.07, and that the <br />amount of the draft represents the amount required by the County to fulfill the <br />performance of compliance ($18,000.00 -Phase 2) with the conditions of site <br />plan approval (Site Plan No. SP -MA -04-08-51/2004030073-40839) or restoration <br />($13,300.00) of the site. <br />2. The Office of Management and Budget is directed to make sight <br />draft marked "DRAWN ON IRREVOCABLE LETTER OF CREDIT OF <br />NORTHERN TRUST, NA, MIAMI, FLORIDA, NO. SLC500481" and accompany <br />the sight draft with this resolution. The draft must be presented no later than <br />December 9, 2012 at the following address: Nort <br />hern Trust, NA, 700 Brickell <br />Avenue, Miami, Florida 33131, Attn: Lett <br />er of Credit Dept. <br />The resolution was moved for adoption by Commissioner o�Bryan, and <br />the motion was seconded by Commissioner ��r <br />a vote, the vote was as follows: <br />2 <br />, and, upon being put to <br />