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APR 2 8 19187 <br />BOOK 68 DOGE 195 <br />=Q In no event will this Letter of Credit be extended past <br />0 U April 1, 1990. <br />i <br />j ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED. <br />TO BENEFICIARY <br />PLEASE ADVISE US IMMEDIATELY IF YOU ELECT NOT <br />TO ACCEPT THIS AMENDMENT. <br />FL�NATIONAL BANK <br />i <br />'Lourdes C. Diaz <br />Agcigtnnt Vice President <br />AUTHORIZED SIGNATURE <br />01.1750-269 (9$6) <br />INDICATIONS OF ADVISING BANK <br />PLACE, DATE, NAME, AND SIGNATURE OF ADVISING BANK <br />I <br />Chairman Scurlock felt the bottom line is that we want a <br />3 -year letter of credit to coincide with the 3 -year extension <br />date, but Attorney Barkett pointed out that in his 2 years with <br />the County he has never been able to convince a bank to issue a <br />letter of credit for more than a year at a time because they are <br />not willing to commit the funds for that long. <br />Attorney Vitunac didn't believe this would be a problem <br />because we can call the letter within 60 days if they don't renew <br />it, and Chairman Scurlock said that was fine as long as they <br />understand that is what would happen. <br />Dick Cook, consultant to Broadview Savings 6 Loan, <br />understood that in a rare situation a bank might refuse to extend <br />the letter of credit; however, they do have a CD on deposit with <br />the bank, and it is automatically renewable the same as a CD. In <br />addition, they have agreed to notify both Broadview and Indian <br />River.>County in the event they would not renew the letter of <br />credit and would do so 60 days prior to the expiration date. <br />36 <br />