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P. O. BOX 789 iv FERN PARK a FLORIDA 32730 <br />June 20, 1980 <br />Mr. Jack G. Jennings, Administrator <br />Indian River County Courthouse <br />Vero Beach, Florida 32960 <br />Re: Partial Bond Release <br />Laurelwood, Unit 3 <br />Indian River County <br />Dear Mr. Jennings: <br />TELEPHONE 831-2211 <br />This is to certify that the below stated percentage of subdivision development work has <br />been completed in substantial accordance with the approved plans and specifications. <br />Percent <br />Type of Work Bond Amount ConlPIC <br />tc <br />Street Paving $79,046.40 <br />Storm Drainage $15,698.75 <br />$94,745.15 <br />Amount to be Released <br />81.5% $64)425.10 <br />78. 9io $12,380,00 <br />} <br />$76,805.10 <br />In accordance with agreements concerning the Developer's Cost Completion Bond and <br />Escrow Agreement posted prior to recording the plat of Laurelwood, Unit 3, request <br />Indian River County release $76, 805.10 from the cash bond at this time by check made <br />payable to Laurel Builders, Inc. <br />This is also to advise you that the sewer and water utility systems are substantially <br />finished and the street soil cement base has been processed. If you or one of your <br />representatives have the opportunity, we would appreciate your review of the job prior <br />to our laying, the asphalt surface course. <br />Zl <br />If you have any questions, please call. <br />Yours truly, <br />LAUREL BUILDERS, INC, <br />Robert T. Shutts <br />Executive Vice President <br />RTS /eh --- } <br />cc: Peter G. Robinson .7�j?rr y �- �:� /`'�'✓- ���" �'�'�s E' — 6 0' /g0 <br />-' C✓` <br />THE ADMINISTRATOR REPORTED THAT HE HAS CHECKED THIS OVER, <br />AND IT IS IN ORDER. <br />COMMISSIONER WODTKE ASKED IF HE HAD BRIEFED LAUREL BUILDERS <br />ON WHAT WE LOOK TO BE OUR NEW POLICY IN THE FUTURE. HE FELT THE <br />ADMINISTRATOR HAD INDICATED THAT HE DID NOT WANT TO GET INTO THESE <br />PARTIAL RELEASES AND THAT THE WORK SHOULD BE COMPLETED BEFORE THE <br />BOND IS RETURNED. An <br />5 <br />JUN 251980 <br />