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FIRepubficBank <br />Dallas <br />P.O. BOX 225981 • DALLAS. TEXAS MM <br />Adi - l'ft* *k- No. do On <br />We Telex number <br />REPUBANK 073.358 <br />Irrevocable Letter of Credit <br />No. RE2200-2483 <br />Indian River County <br />1840 N. W. 25th Street <br />Vero Beach, Florida 32960 <br />Gentlemen: <br />October 11, 198 <br />AMOUNT - $60,000.00 <br />EXPIRY - October 11, 1987 <br />We hereby issue in your favor this documentary credit which is available by <br />negotiation of your draft at sight drawn on RepublicBank Dallas, National Association <br />bearing the clause: "Drawn under documentary credit No. RE2200-2483 of RepublicBank <br />Dallas, National Association" -accompanied by the following documents: <br />1) Certificate signed by two members of the Board of County Commissioners of Indian <br />River County, Florida, duly notarized, and stating as follows: <br />"We hereby certify that: <br />1. The County's agreement to provide temporary wastewater allocations to <br />Crow -Wright #10, Ltd.'s 54 -bed Psychiatric Hospital in Vero Beach has been cancelled <br />due to a lapsed agreement between Indian River Coutny and the City of Vero Beach's <br />wastewater treatment facility, and <br />2. Crow -Wright #10, Ltd. has failed to commence construction of a private <br />wastewater facility or made other arrangements for service within the time spgcified <br />in the agreement dated October 14, 1985 between Indian River County and Crow -Wright <br />#10, Ltd. <br />Therefore, the funds drawn are due and payable." <br />0 <br />2) Original of this Letter of Credit <br />This Letter of Credit sets forth in full the terms of our undertaking to you. Such <br />undertaking shall not in any way be modified, amended or amplified by reference to <br />any document or instrument referrd to or related to herein and -any such reference <br />shall not be deemed to incorporate herein by reference any document or instrument. <br />The original of this Letter of Credit must be presented to us with any drawings <br />hereunder for our endorsement of any payments effected by us. <br />If cancellation of this Letter of Credit is required before the expiry date stated <br />herein, the original of this Letter of Credit must be returned to us with the <br />Beneficiary's letter requesting-cangellation. <br />Natj.aghl- Association <br />55 <br />> � <br />Signature de la banque emettrice <br />Signature of the issuing bank <br />Boor PAGE 763 <br />