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authorized the issuance of a Certificate of Occu- <br />pancy for the Central Assembly of God upon receipt <br />of security acceptable to the Chairman and the <br />County Attorney to cover the additional grading <br />around the ponds, which is to be done within 60 days <br />and the landscaping, to be completed within 120 days. <br />4000 20TH STREET <br />VERO BEACH, FLORIDA 32960 <br />Of Indian Hives County <br />Indian River County <br />Board of County Commissioners <br />1840 25th Street <br />Vero Beach, Florida 32960 <br />Re: Irrevocable Letter of Credit No. 1000 <br />Gentlemen: <br />(305) 567.0552 <br />January 3, 1985 <br />We hereby establish our Irrevocable and Unconditional Letter of <br />Credit in your favor for the account of Central Assembly of God, Inc. of <br />Vero Beach, Florida for the sum of $38,000.00, available on the following <br />terms: <br />This letter of credit is being provided for the purpose of securing the <br />completion of all site plan improvements under the currently approved site <br />plan for construction of the Central Assembly of God Church at 6767 20th <br />Street, in Indian River County, Florida. This Letter of Credit is non- <br />transferrable. <br />The funds of this Letter of Credit will be on deposit and available to be <br />drawn by Indian River County in the event the remaining site plan work is not <br />completed in accordance with an Extension Agreement between the Church and <br />the County Commission made at the December 12, 1984 County Commission meeting. <br />Drafts must be drawn at this bank on or before June 10, 1985. Drafts drawn <br />under this Letter of Credit must be markad upon their face "drawn under First <br />American Bank of Indian River County Letter of Credit No. 1000 dated January <br />3, 1985." If the completion of improvements and your written approval of <br />such improvements occur prior to June 10, 1985, this Letter of Credit shall <br />be void upon said date of happening. <br />We hereby agree with the drawers, endorsers, and bona fide holders of drafts <br />drawn under and in compliance with the terms of this Letter of Credit that <br />such drafts shall be duly honored on presentation of a written statement <br />signed by the proper official for Indian River County that the above customer <br />is in default under the terms of its agreement. <br />Very truly yours, <br />FIRST AMERICAN BANK OF INDIAN RIVER COUNTY <br />DAVID H. TALLEY, PRESI ENT <br />35 <br />® E C 12 1984 BOOKji <br />I <br />