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MAY 18 1993 <br />b"OK.tiLt 59-4 <br />REQUEST FOR REDUCTION OF LETTER OF CREDIT - SEAGROVE <br />SUBDIVISION <br />The Board reviewed the following letter dated 4/11/83: <br />May 11,1983 <br />Indian River County Board of Commissioners <br />1840 25th Street -- - <br />Vero Beach. Florida 32960 <br />Attention:. Mrs. E. Forlani <br />Secretary <br />Subject: Haven Federal. Savings and Loan Association <br />Irrevocable Letter of Credit Number 1 <br />Seagrove South Subdivision, Unit 1 <br />Dear Mrs. Forlani: <br />Corporate Investment Company respectfully requestsklt6.• <br />be on the agenda of the next scheduled County Commission <br />• meeting on May 18, 1983, for the purpose of having <br />additional sums released from the above described letter <br />of credit. <br />Our contractor, Dickerson, Inc., has as of April 25, 1983, <br />completed 820 of the work on the improvements for Seagrove <br />South. The sum of $117,000.00 or 39% of the letter of <br />credit was released to us previously on March 28, 1983 <br />and we would like the difference, or 43% more released to <br />us at this time.(for a total of 82%). <br />I have enclosed certified copies of our contractors request <br />for payment for your reference. <br />If_ you require anything further, please contact me. <br />Sin erely, <br />Patricia A. Murray <br />Corporate Investment Company <br />pain <br />enc. <br />cc: Por. G. Brandenburg/w/att. <br />One $eagroae Drive C'cro Reach, FL 32960 <br />34 <br />(305) 231-5885 <br />k <br />