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The Northern Thst Company <br />600 Brickell Avenue, Suite 2400 <br />Kami, Florida 33131 <br />(305) 372-1000 <br />Northern Test <br />IRREVOCABLE STANDBY LETTER OF CREDIT NO. SLC501193 <br />DATE: MAY 16, 2016 <br />BENEFICIARY: <br />INDIAN RIVER COUNTY <br />BOARD OF COUNTY COMMISSIONERS <br />180127TH STREET <br />VERO BEACH, FL 32960 <br />APPLICANT' <br />790 AlA, LLC <br />6020 5T" STREET, S.W. <br />VERO BEACH, FL 32962 <br />EXPIRATION DATE: AUGUST 24, 2017 (AT OUR COUNTERS LOCATED AT <br />660 BRICKELL AVENUE, SUITE 2400 <br />MIAMI, FLORIDA 33131 <br />ATTN: LETTERS OF CREDIT DEPARTMENT <br />AMOUNT: USD183,372.01 <br />LADIES AND GENTLEMEN: <br />BY ORDER OF 790 AIA, LLC, WE, THE NORTHERN TRUST COMPHNY, MIAMI, FLORIDA, HEREBY <br />ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER '�,C501193 IN YOUR FAVOR <br />(BENEFICIARY), IN THE AMOUNT OF ONE HUNDRED EIGHTY THREE THOUSAND THREE HUNDRED <br />SEVENTY TWO AND 01/100 U.S. DOLLARS (USD183,372.01), EFFECTIVE AS OF . AY 16, 2016, AND <br />EXPIRING AT OUR OFFICE AT THE CLOSE OF BUSINESS ON AUGUST 24, 2017. <br />THIS LETTER OF CREDIT IS PROVIDED TO YOU AS REQUIRED UNDER THE CONTRACT FOR <br />CONSTRUCTION OF REQUIRED IMPROVEMENTS BETWEEN 790 AlA, LLC, A FLORIDA LIMITED LIABILITY <br />COMPANY AND INDIAN RIVER COUNTY, RELATING TO SANDY LANE PD WHICH CONTRACT IS NUMBERED <br />PD -15-07-02-(2014060029-76352). <br />WE, THE NORTHERN TRUST COMPANY, MIAMI, FLORIDA, SHALL MAKE FUNDS AVAILABLE UNDER THIS <br />CREDIT TO YOU NOT EXCEEDING THE AGGREGATE AMOUNT OF THIS LETTER OF CREDITAGAINST YOUR <br />SIGHT DRAFT, DULY ENDORSED, DRAWN ON US MENTIONING THIS LETTER OF CREDIT NO. SLC501193, <br />ACCOMPANIED BY A LETTER FROM THE COUNTY ADMINISTRATOR OR HIS DESIGNEE, WITH APPROVAL <br />SIGNATURES OF THE COUNTY ATTORNEY OR HIS DESIGNEE, AND THE DIRECTOR OF OFFICE OF <br />MANAGEMENT AND BUDGET OR HIS DESIGNEE, STATING THAT' <br />Page 1 of 2 <br />Tho Northern Trust Company Member FDIC. Equal Housing Lender ii <br />79 <br />