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MOTION WAS MADE by Commiss.ioner Bird, SECONDED by <br />Commissioner Bowman, that the Board authorize the <br />Legal Department to renegotiate under the terms <br />stated above, and authorize the Chairman to sign <br />the developer's agreement. <br />Under discussion, Attorney William Stewart, representing <br />Hawk's Nest Associates, Inc., advised that they need approval of <br />another modification in the developer's agreement and that is to <br />change the trigger of a letter of credit before any Certificate <br />of Occupancy is issued for any buildings on the golf course. <br />Attorney Barkett advised that we would not have to change <br />the site plan ordinance for that modification. <br />Chairman Scurlock asked about the possibility of using an <br />involuntary special assessment as a vehicle in this case, because <br />it is more secure, and Attorneys Vitunac and Barkett advised that <br />option is not included in our site plan ordinance and pointed out <br />that some assessments are only good for so long and they expire <br />unless they are enforced. <br />Attorney Stewart felt the special assessment vehicle would <br />be fine if it could be worked out legally. He felt that if the <br />County decides to build the road, it would be a major road as <br />well as the access for the golf course. <br />Commissioner Bird understood that if we did have to call <br />down the second mortgage of $81,000, we would have to pay <br />attorney fees, etc. <br />Commissioner Wodtke wanted the agreement to read that the <br />mortgage will indeed be a second mortgage and that the second <br />mortgage combined with'the first mortgage shall not be greater <br />than 700 of the appraised value of the land, and Commissioner <br />Bird agreed to amend his Motion to include that language. - <br />45 BOCK 65 PAGE 07 <br />AUG 1 <br />� I <br />