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drainage issue which may arise, until the project is <br />reinstituted. <br />Attorney Collins saw no point in having an unsecured Developer's Agreement. He said <br />the control would be when the Certificate of Occupancy (CO) is issued for each individual <br />house, at which time it would be determined if the lot has been filled to the proper grade. <br />MOTION WAS AMENDED by Vice Chairman Flescher, <br />SECONDED by Chairman Davis, to allow the Letter of <br />Credit with Foster I.R.C., LLC, to expire. <br />Commissioner O'Bryan noted that although Vice Chairman Flescher's Motion would <br />vacate the Letter of Credit, the requirement for the lot fill remains. He felt it would be clearer to <br />have the Motion specify vacating the Contract for Lot Fill; the Letter of Credit could expire on <br />its own, and the lots could be filled individually as a builder/owner moves forward. <br />Attorney Collins confirmed that Commissioner O'Bryan was correct, and if the Board <br />vacates the Letter of Credit (the security), the Contract being secured by the Letter of Credit <br />should also be vacated. <br />Vice Chairman Flescher assented. <br />Attorney Collins added that, since the County would be deleting a time requirement on <br />the lot fill, Mr. Foster should amend his deed restrictions for the four lot owners accordingly, to <br />require lot fill at the time of development. <br />Commissioner Solari wanted to add an amendment to Vice Chairman Flescher's Motion <br />such that the four lot owners would be excluded from having to fill prior to building. <br />18 <br />June 23, 2009 <br />