Laserfiche WebLink
rl� , <br />MAR 2 31993 <br />Telephone: (305) 587-8000 <br />8609 <br />BOARD OF COUNTY COMMISSIONERS <br />1840 25th Street, Vero Beach, Florida -32960 <br />Haven Federal Savings & <br />P. 0. Box 858 <br />250 Second Street, S.W. <br />Winter Haven, Florida <br />53 84 <br />Suncom Telephone: (305) 424-1012 <br />March 28, 1983 <br />Loan Association <br />33880 <br />Re: Irrevocable Letter of Credit No. 1 --Seagrove South <br />Subdivision/Corporate Investment Company/ <br />Board of County Commissioners of Indian River County, Florida <br />Gentlemen: <br />Please be advised that the Board of County Commissioners of Indian <br />River County, Florida during their regularly scheduled meeting of <br />March 23, 1983, approved by majority vote the request of Corporate <br />Investment Company to reduce the amount of the Irrevocable Letter <br />of Credit issued by you effective December 15, 1982, and expiring <br />on February 15, 1984, to secure required improvements_ -under a <br />contract -entitled CRI No. 1 dated December 15, 1982 by -39% or <br />$117,000 leaving a balance of $183,000. This action by the County <br />Commission is predicated upon certification by the project <br />engineers, CFS & Associates, that 43& of the work on the required <br />improvements is complete. Indian River County does not make any <br />representation with respect to the quality or the completion of <br />the work to date. <br />This letter authorizes the modification of the Irrevocable Letter <br />of Credit No. 1 by Corporate Investment Company only to the extent <br />specifically set forth herein. Indian River_ -County expressly , <br />reserves all rights that it may have with respect to the <br />Irrevocable Letter of Credit and to Corporate Investment Company's <br />obligations under the contract for required improvements -and does <br />not waive any such rights. <br />cc: Gary M. <br />John J. <br />Brandenburg, <br />County Attorney <br />Kabboord <br />0 <br />Sincerely, <br />Richard N. Bird <br />Chairman <br />Board of County Commissioners <br />Attest: 2 r <br />FREDA WRIGHT, erk <br />